2020-05-07T10:00:16-05:00 2019-06-30 560747981 Dixon Hughes Goodman LLP 500 Ridgefield Court Asheville NC 28806 990 2018-07-01 560889168 Asheville Christian Academy ASHE 8285812200 PO Box 1089 Swannanoa NC 28778 William J Putnam Chief Financial Officer 8285812200 2020-05-07 1 Amy Bibby P00445891 8282542254 2020-05-07 99.47.28.203 2020-05-07 09:29:53 ED P 083993E8E059FCB3C563BE1594239D73DD9572BD 48FB394F9AA065459641371F168D9F2AFFFBB473 2018 2020-11-06 18:47:13Z William George 1037 New Haw Creek Road Asheville NC 28805 9985341 0 X www.ACACADEMY.org X 1967 NC Operation of private school 11 10 191 150 0 0 2325722 1487187 7682262 8022378 126 -11942 56281 475776 10064391 9973399 788216 828414 0 0 4934047 5445209 0 0 191953 2875392 2886484 8597655 9160107 1466736 813292 18159923 19204330 3642192 3845457 14517731 15358873 Seeking to serve Jesus Christ and uphold His Pre-eminence, Asheville Christian Academy, in committed partnership with Christian parents, provides a Gospel-centered education to shepherd and inspire Christ-oriented lives within a community of grace. 0 0 6146018 828414 8022378 Provide instruction and educational activities for students from preschool to 12th grade. 6146018 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 191 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X William George 8285812200 74 Riverwood Road Swannanoa NC 28778 Matthew Putnam Board Chairperson 10.00 X X 0 0 0 Kevin Hefner Vice Chair 5.00 X X 0 0 0 Fei St Onge Treasurer 2.00 X X 0 0 0 Nathan Renfro Secretary 5.00 X X 0 0 0 Jay Womack Board Member 2.00 X 0 0 0 Alex Miller Board Member 2.00 X 0 0 0 Julie Wallace Board Member 2.00 X 0 0 0 Darren Pinkerton Board Member 2.00 X 0 0 0 Courtney Parks Board Member 2.00 X 0 0 0 Ken Condra Board Member 2.00 X 0 0 0 Tracy Galano Board Member (Thru July) 10.00 X 0 0 0 William George Head of School 40.00 X X 147769 0 30019 147769 0 30019 1 0 1 0 M T Enterprises 50 White Rock Branch Rd Candler NC 28715 Cleaning 163530 1 1487187 1487187 Tuition and fees 611110 7931587 7931587 Bus ticket sales 480000 36039 36039 Extended care income 28320 28320 Food service 26432 26432 8022378 64805 0 64805 64805 64805 11942 -11942 -11942 -11942 442986 0 442986 442986 Miscellaneous 900099 34237 34237 PV discount of long-te 900099 -66252 -66252 -32015 9973399 8022378 0 463834 828414 828414 147768 36942 103438 7388 3964503 2995846 968657 134699 99220 35479 892766 861344 31422 305473 252114 53359 43705 43705 38485 38485 73619 43007 30612 286839 184982 99141 2716 24634 24634 735658 88472 572935 74251 71445 71445 556283 556283 90415 90415 Fine arts supply 202801 202801 Other 157324 64943 89731 2650 J Term 143023 143023 Supplies 88260 88260 373993 299657 74336 9160107 6146018 2822136 191953 51994 202667 227735 344098 857667 2846224 256766 307811 2097 22302035 7093370 15357174 15208665 1408587 292768 18159923 19204330 194436 433370 1008747 847672 2325895 1603984 113114 960431 3642192 3845457 X 12302697 13143839 2215034 2215034 14517731 15358873 18159923 19204330 813292 27848 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 263658 10595 9745 2722 281276 582259 1737872 8140 113237 2215034 825930 356772 12636 613079 582259 390336 1034280 -18125 580561 825930 2175662 684343 10288 2479957 390336 1.00000 1 0 1682401 1682401 18102068 6500666 11601402 1650471 592704 1057767 867095 867095 15208665 Line of credit 707925 Custodial accounts 243031 Other 9475 960431 X 9172833 27848 27848 9144985 828414 828414 9973399 8331693 0 8331693 828414 828414 9160107 Part V, Line 4: ENDOWMENT FUNDS ARE HELD TO PROVIDE SCHOLARSHIPS TO STUDENTS OF THE ORGANIZATION. For fiscal year 2019 the beginning endowment fund balance has an adjustment of $1,951,376 in comparison with the prior year ending balance. In previous filings the organization has included funds designated for capital improvements under its endowment disclosure. An adjustment was made in the current year to only reflect designated endowment funds. Part X, Line 2: The Academy is established as a not-for-profit entity and has been recognized as an organization exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. FASB ASC 740, "Accounting for Uncertainty in Income Taxes" clarified the accounting for the recognition and measurement of uncertainties in income taxes recognized in an entity's financial statements and prescribes a threshold of more likely-than-not for recognition of tax positions taken or expected to be taken in a tax return. The Academy's policy is to evaluate the likelihood that its uncertain tax positions will prevail upon examination based on the extent to which those positions have substantial support within the Internal Revenue Code and Regulations, Revenue Rulings, court decisions and other evidence. The Academy's income tax returns are subject to examination by taxing authorities for a period of three years from the date they are filed. As of June 30, 2019, the fiscal years ending in June 30, 2016, 2017, and 2018 are subject to examination. Part XI, Line 4b - Other Adjustments: Student aid Part XII, Line 4b - Other Adjustments: Student aid 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 Newspaper advertisements and prochure list nondiscrimination policy Gala Auction Event 442986 442986 442986 442986 442986 0 Student aids/grants 248 828414 0 0 0 0 0 0 0 0 0 William George Head of School 130474 0 17295 0 0 0 7519 0 22500 0 177788 0 0 0 Form 990, Part VI, Section A, line 6 Classes of Members or Stockholders Current parents, staff, grandparents and great-grandparents as well as alumni, alumni parents, former staff and former board members are eligible for corporation membership. The Corporation as a body elects the Board of Directors and votes on major school decisions. Form 990, Part VI, Section A, line 7a Election of Members and Their Rights The Corporation as a body elects the Board of Directors and votes on major school decisions. Form 990, Part VI, Section A, line 7b Decisions Subject to Approval of Members The Corporation as a body elects the Board of Directors and votes on major school decisions. Form 990, Part VI, Section B, line 11b Organization's Process to Review Form 990 A copy of the 990 return is provided to the Board for review. Form 990, Part VI, Section B, line 12c Any conflicts of interests are presendted at board meetings and is covered under board policy 4.5.3.B. which states: When the Board is to decide upon an issue about which a member has a conflict of interest, that member shall disclose the conflict to the Board and absent herself or himself without comment from not only the vote but also from the deliberation. Form 990, Part VI, Section B, line 15 Compensation Management is covered in policy 2.6 and states: The Head of School will not cause or allow jeopardy to the organization's fiscal integrity or public image when dealing with employment, compensation and benefits for employees, consultants or contractors. The Head of School will not: 1. Change his own compensation. 2 Change his own benefits, except as consistent with a package for all other employees. 3. Promise or imply anything other than "at-will" employment. 4. Establish current compensation and benefits that deviate materially from the geographic and/or professional market value for the skills employed. 5. Pertaining to consultants and contract vendors, create obligations over a longer term than revenues can be safely projected, in no event longer than one year. 6. Establish or change retirement benefits so as to cause situations that are unpredictable for the organization, or inequitable for employees. Form 990, Part VI, Section C, line 19 Governing Documents Disclosure Explanation All governing documents are available upon request