ESPERANZA ACADEMY INC: Form 990, tax year 2018

View the entire original 990 at ProPublica ↗

Organization: ESPERANZA ACADEMY INC (EIN 73-1722348)
Tax period: 2018-07-01 to 2019-06-30
Filed: 2019-11-14
IRS object ID: 201943189349311609
Schema version: 2018v3.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule B
Schedule D
Schedule E
Schedule G
Schedule M
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2019-11-14T15:37:26-06:00	ReturnTs
Tax Period End	2019-06-30	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	042571780	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	ALEXANDER ARONSON FINNING & CO PC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	50 WASHINGTON STREET	AddressLine1Txt
City	WESTBOROUGH	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	01581	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2018-07-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	731722348	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	ESPERANZA ACADEMY INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	ESPE	BusinessNameControlTxt
Phone	9786864673	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	198 GARDEN STREET	AddressLine1Txt
City	LAWRENCE	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	01840	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	JADIHEL TAVERAS	PersonNm
Person Title	HEAD OF SCHOOL	PersonTitleTxt
Phone	9786864673	PhoneNum
Signature	2019-11-12	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	JOYCE RIPIANZI CPA	PreparerPersonNm
PTIN	P00548581	PTIN
Phone	5083669100	PhoneNum
Preparation	2019-11-12	PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	40.70.31.102	IPv4AddressTxt

Field	Value	IRS element (for citing)
IP	2019-11-12	IPDt
IP Tm	17:41:35	IPTm
IP Timezone	ES	IPTimezoneCd
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	2DDD31951ED2AB8CB25029F66ABAED5153B45454	AtSubmissionCreationDeviceId
At Submission Filing Device Id	98886D9C2EE2353E64B4721720E2EA877921E95E	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2018	TaxYr
Build TS	2020-03-31 21:24:44Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	JADIHEL TAVERAS	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	198 GARDEN STREET	AddressLine1Txt
City	LAWRENCE	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	01840	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$2,358,485	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	ESPERANZAACADEMY.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	2004	FormationYr
Legal Domicile State	MA	LegalDomicileStateCd
Activity Or Mission	ESPERANZA ACADEMY, INC. (THE ACADEMY) IS A TUITION-FREE, INDEPENDENT MIDDLE SCHOOL IN THE EPISCOPAL TRADITION WELCOMING GIRLS OF DIVERSE FAITHS, RACES, AND CULTURES FROM LAWRENCE, MASSACHUSETTS. THE SCHOOL INSPIRES STUDENTS TO BECOME ACTIVE LEARNERS AND RESPONSIBLE GLOBAL CITIZENS. WE EMPOWER AND PREPARE OUR GIRLS TO MEET CHALLENGES WITH COURAGE, INTEGRITY, AND RESPECT.	ActivityOrMissionDesc
Voting Members Governing Body	19	VotingMembersGoverningBodyCnt
Voting Members Independent	19	VotingMembersIndependentCnt
Total Employee	36	TotalEmployeeCnt
Total Volunteers	150	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$2,630,012	PYContributionsGrantsAmt
CY Contributions Grants	$1,992,862	CYContributionsGrantsAmt
PY Program Service Revenue	$19,653	PYProgramServiceRevenueAmt
CY Program Service Revenue	$17,484	CYProgramServiceRevenueAmt
PY Investment Income	$52,569	PYInvestmentIncomeAmt
CY Investment Income	$50,982	CYInvestmentIncomeAmt
PY Other Revenue	-$29,923	PYOtherRevenueAmt
CY Other Revenue	-$8,449	CYOtherRevenueAmt
PY Total Revenue	$2,672,311	PYTotalRevenueAmt
CY Total Revenue	$2,052,879	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$1,277,955	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$1,302,118	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$292,601	CYTotalFundraisingExpenseAmt
PY Other Expenses	$576,010	PYOtherExpensesAmt
CY Other Expenses	$629,487	CYOtherExpensesAmt
PY Total Expenses	$1,853,965	PYTotalExpensesAmt
CY Total Expenses	$1,931,605	CYTotalExpensesAmt
PY Revenues Less Expenses	$818,346	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$121,274	CYRevenuesLessExpensesAmt
Total Assets BOY	$3,943,003	TotalAssetsBOYAmt
Total Assets EOY	$4,121,091	TotalAssetsEOYAmt
Total Liabilities BOY	$69,411	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$75,084	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$3,873,592	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$4,046,007	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	THE ACADEMY IS A TUITION-FREE, INDEPENDENT MIDDLE SCHOOL IN THE EPISCOPAL TRADITION WELCOMING GIRLS OF DIVERSE FAITHS, RACES, AND CULTURES FROM LAWRENCE, MASSACHUSETTS. THE SCHOOL INSPIRES STUDENTS TO BECOME ACTIVE LEARNERS AND RESPONSIBLE GLOBAL CITIZENS. WE EMPOWER AND PREPARE OUR GIRLS TO MEET CHALLENGES WITH COURAGE, INTEGRITY, AND RESPECT.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Expense	$1,427,148	ExpenseAmt
Revenue	$17,484	RevenueAmt
Desc	TO PROVIDE A TUITION-FREE MIDDLE SCHOOL TO ECONOMICALLY DISADVANTAGED GIRLS FROM LAWRENCE, MASSACHUSETTS. ANNUAL ENROLLMENT TOTALS APPROXIMATELY 60 GIRLS.	Desc
Total Program Service Expenses	$1,427,148	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (1)	DescribedInSection501c3Ind
Schedule B Required	Yes (1)	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Lobbying Activities	0	LobbyingActivitiesInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Temp Or Permanent Endowments	Yes (1)	TempOrPermanentEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	0	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (1)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (1)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	Yes (1)	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	Yes (1)	ProfessionalFundraisingInd
Fundraising Activities	Yes (1)	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	0	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Engaged In Excess Benefit Trans	0	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	0	PYExcessBenefitTransInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With Officer Ent	0	BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri	Yes (1)	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	0	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	9	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	36	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	0	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Quid Pro Quo Contributions	Yes (1)	QuidProQuoContributionsInd
Quid Pro Quo Contri Discl	Yes (1)	QuidProQuoContriDisclInd
Form8282 Property Disposed Of	0	Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	0	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	0	PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	19	GoverningBodyVotingMembersCnt
Independent Voting Member	19	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	0	MembersOrStockholdersInd
Election Of Board Members	0	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	Yes (1)	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
States Where Copy Of Return Is Fld	MA	StatesWhereCopyOfReturnIsFldCd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	JADIHEL TAVERAS	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	9786864673	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	198 GARDEN STREET	AddressLine1Txt
City	LAWRENCE	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	01840	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Highest Compensated EmployeeHighestCompensatedEmployeeInd
CATHY PERRON EATON
VICE PRESIDENT	5.00	Yes (X)	Yes (X)	$0	$0	$0
CHRISTINE DWYER
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
DENISE BORDONARO
CO-PRESIDENT	5.00	Yes (X)	Yes (X)	$0	$0	$0
DIANNE DOMENECH BURGOS
CO-PRESIDENT	5.00	Yes (X)	Yes (X)	$0	$0	$0
SARAH NEWTON
SECRETARY	5.00	Yes (X)	Yes (X)	$0	$0	$0
THOMAS ABISALIH
TREASURER	5.00	Yes (X)	Yes (X)	$0	$0	$0
IAN GRACEY
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
JOHANNA BARRETT
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
KATE MORRIS
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
LINDA BORLAND
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
LINDSEY CURLEY
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
MARVIN NYMAN
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
PEDRO LARA
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
ROBERT MILLER
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
CHUCK BUTLER
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
STEVE MARTIN
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
CHERYL MAIURI
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
JENNIFER MCKENELLEY
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
ELAINE WHITE
BOARD MEMBER	2.00	Yes (X)		$0	$0	$0
JADIHEL TAVERAS
HEAD OF SCHOOL (AS OF 7/1/18)	40.00		Yes (X)	$68,650	$0	$9,492
SHELLEY REESE
DIRECTOR OF DEVELOPMENT	40.00			$101,901	$0	$15,853	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$170,551	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$25,345	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	1	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	0	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K	0	CntrctRcvdGreaterThan100KCnt
Fundraising	$316,381	FundraisingAmt
Government Grants	$41,322	GovernmentGrantsAmt
All Other Contributions	$1,635,159	AllOtherContributionsAmt
Noncash Contributions	$29,453	NoncashContributionsAmt
Total Contributions	$1,992,862	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

Field	Value	IRS element (for citing)
Desc	ACTIVITY FEES	Desc
Business	900099	BusinessCd
Total Revenue Column	$17,484	TotalRevenueColumnAmt
Related Or Exempt Func Income	$17,484	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$17,484	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$20,557	TotalRevenueColumnAmt
Exclusion	$20,557	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$253,382	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$222,957	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$30,425	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$30,425	TotalRevenueColumnAmt
Exclusion	$30,425	ExclusionAmt

Field	Value	IRS element (for citing)
Fundraising Gross Income	$74,200	FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event	$316,381	ContriRptFundraisingEventAmt
Fundraising Direct Expenses	$82,649	FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	-$8,449	TotalRevenueColumnAmt
Exclusion	-$8,449	ExclusionAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$2,052,879	TotalRevenueColumnAmt
Related Or Exempt Func Income	$17,484	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$42,533	ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$158,350	TotalAmt
Program Services	$110,845	ProgramServicesAmt
Fundraising	$47,505	FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$951,967	TotalAmt
Program Services	$704,599	ProgramServicesAmt
Management And General	$98,027	ManagementAndGeneralAmt
Fundraising	$149,341	FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$11,174	TotalAmt
Program Services	$8,387	ProgramServicesAmt
Management And General	$2,282	ManagementAndGeneralAmt
Fundraising	$505	FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$83,694	TotalAmt
Program Services	$60,596	ProgramServicesAmt
Management And General	$8,111	ManagementAndGeneralAmt
Fundraising	$14,987	FundraisingAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$96,933	TotalAmt
Program Services	$70,320	ProgramServicesAmt
Management And General	$9,103	ManagementAndGeneralAmt
Fundraising	$17,510	FundraisingAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$8,453	TotalAmt
Management And General	$8,453	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$24,277	TotalAmt
Management And General	$24,277	ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$10,075	TotalAmt
Management And General	$10,075	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$59,723	TotalAmt
Program Services	$2,500	ProgramServicesAmt
Management And General	$25,055	ManagementAndGeneralAmt
Fundraising	$32,168	FundraisingAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$47,346	TotalAmt
Program Services	$23,359	ProgramServicesAmt
Management And General	$6,189	ManagementAndGeneralAmt
Fundraising	$17,798	FundraisingAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$179,763	TotalAmt
Program Services	$172,289	ProgramServicesAmt
Management And General	$1,740	ManagementAndGeneralAmt
Fundraising	$5,734	FundraisingAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$63,520	TotalAmt
Program Services	$62,171	ProgramServicesAmt
Management And General	$432	ManagementAndGeneralAmt
Fundraising	$917	FundraisingAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	FundraisingFundraisingAmt	Management And GeneralManagementAndGeneralAmt
MEALS PROGRAM	$104,784	$101,524	$3,260
PROGRAM SUPPLIES	$82,513	$82,513
STAFF DEVELOPMENT	$33,134	$21,046	$2,876	$9,212
MISCELLANEOUS	$8,900			$8,900

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$6,999	TotalAmt
Program Services	$6,999	ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$1,931,605	TotalAmt
Program Services	$1,427,148	ProgramServicesAmt
Management And General	$211,856	ManagementAndGeneralAmt
Fundraising	$292,601	FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$511,477	BOYAmt
EOY	$784,891	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$805,672	BOYAmt
EOY	$683,337	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$57,588	BOYAmt
EOY	$60,794	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$2,223,657	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$733,427	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$1,553,750	BOYAmt
EOY	$1,490,230	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$990,066	BOYAmt
EOY	$1,077,389	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$24,450	BOYAmt
EOY	$24,450	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$3,943,003	BOYAmt
EOY	$4,121,091	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$69,411	BOYAmt
EOY	$75,084	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$69,411	BOYAmt
EOY	$75,084	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows SFAS117	Yes (X)	OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$2,944,759	BOYAmt
EOY	$3,181,763	EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$908,833	BOYAmt
EOY	$844,244	EOYAmt

Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$20,000	BOYAmt
EOY	$20,000	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$3,873,592	BOYAmt
EOY	$4,046,007	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$3,943,003	BOYAmt
EOY	$4,121,091	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$121,274	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$51,141	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Info In Schedule O Part XII	Yes (X)	InfoInScheduleOPartXIIInd
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
School	Yes (X)	SchoolInd

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule D IRS990ScheduleD

CY Endwmt Fund CYEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$990,066	BeginningYearBalanceAmt
Investment Earnings Or Losses	$97,342	InvestmentEarningsOrLossesAmt
Other Expenditures	$890	OtherExpendituresAmt
Administrative Expenses	$9,129	AdministrativeExpensesAmt
End Year Balance	$1,077,389	EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$893,157	BeginningYearBalanceAmt
Contributions	$1,500	ContributionsAmt
Investment Earnings Or Losses	$106,286	InvestmentEarningsOrLossesAmt
Other Expenditures	$919	OtherExpendituresAmt
Administrative Expenses	$9,958	AdministrativeExpensesAmt
End Year Balance	$990,066	EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$812,991	BeginningYearBalanceAmt
Contributions	$1,500	ContributionsAmt
Investment Earnings Or Losses	$88,413	InvestmentEarningsOrLossesAmt
Other Expenditures	$601	OtherExpendituresAmt
Administrative Expenses	$9,146	AdministrativeExpensesAmt
End Year Balance	$893,157	EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$230,626	BeginningYearBalanceAmt
Contributions	$540,140	ContributionsAmt
Investment Earnings Or Losses	$43,749	InvestmentEarningsOrLossesAmt
Other Expenditures	$1,524	OtherExpendituresAmt
End Year Balance	$812,991	EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$224,252	BeginningYearBalanceAmt
Contributions	$1,500	ContributionsAmt
Investment Earnings Or Losses	$5,519	InvestmentEarningsOrLossesAmt
Other Expenditures	$645	OtherExpendituresAmt
End Year Balance	$230,626	EndYearBalanceAmt

Field	Value	IRS element (for citing)
Board Designated Balance EOY	0.98140	BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY	0.01860	PrmnntEndowmentBalanceEOYPct
Endowments Held Unrelated Org	0	EndowmentsHeldUnrelatedOrgInd
Endowments Held Related Org	0	EndowmentsHeldRelatedOrgInd

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$75,900	OtherCostOrOtherBasisAmt
Book Value	$75,900	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,959,816	OtherCostOrOtherBasisAmt
Depreciation	$588,245	DepreciationAmt
Book Value	$1,371,571	BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$70,736	OtherCostOrOtherBasisAmt
Depreciation	$39,404	DepreciationAmt
Book Value	$31,332	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$117,205	OtherCostOrOtherBasisAmt
Depreciation	$105,778	DepreciationAmt
Book Value	$11,427	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$1,490,230	TotalBookValueLandBuildingsAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$2,097,145	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$51,141	NetUnrealizedGainsInvstAmt
Donated Services And Use Fclts	$3,200	DonatedServicesAndUseFcltsAmt
Revenue Not Reported	$54,341	RevenueNotReportedAmt
Revenue Subtotal	$2,042,804	RevenueSubtotalAmt
Investment Expenses Not Incld	$10,075	InvestmentExpensesNotIncldAmt
Revenue Not Reported Fincl Stmt	$10,075	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$2,052,879	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$1,924,730	TotExpnsEtcAuditedFinclStmtAmt
Donated Services Use Fclts	$3,200	DonatedServicesUseFcltsAmt
Expenses Not Reported	$3,200	ExpensesNotReportedAmt
Expenses Subtotal	$1,921,530	ExpensesSubtotalAmt
Investment Expenses Not Incld2	$10,075	InvestmentExpensesNotIncld2Amt
Expenses Not Rpt Fincl Stmt	$10,075	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$1,931,605	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

PART V, LINE 4:

THE PERMANENTLY RESTRICTED PORTION OF THE ENDOWMENT FUNDS REPRESENT AMOUNTS RECEIVED FROM DONORS WITH THE STIPULATION THAT THE PRINCIPAL WILL BE HELD IN PERPETUITY AND ONLY THE INVESTMENT INCOME CAN BE SPENT. INVESTMENT INCOME EARNED ON PERMANENTLY RESTRICTED ENDOWMENT FUNDS ARE RESTRICTED FOR STAFF AND MATERIALS RELATED TO THE ACADEMY'S LIBRARY. THE WITHDRAWAL FROM THE ENDOWMENT FUND IN SUPPORT OF CURRENT OPERATIONS IS EXPECTED TO REMAIN A CONSTANT PERCENTAGE OF THE TOTAL ENDOWMENT FUND (UP TO 5% OF ENDOWMENT AVERAGE VALUE OVER THE PREVIOUS TWELVE MONTHS), ADJUSTED FOR NEW GIFTS TO THE FUND.

PART X, LINE 2:

THE ACADEMY ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ACADEMY HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2019 AND 2018.

Schedule E IRS990ScheduleE

Field	Value	IRS element (for citing)
Nondiscriminatory Policy Stmt	Yes (1)	NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures Etc	Yes (1)	PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast Media	Yes (1)	PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp Recs	Yes (1)	MaintainRacialCompRecsInd
Maintain Scholarships Recs	Yes (1)	MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures Etc	Yes (1)	MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All Sol	Yes (1)	MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts	0	DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy	0	DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty	0	DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs	0	DiscriminateRaceSchsInd
Discriminate Race Educ Plcy	0	DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts	0	DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog	0	DiscriminateRaceAthltProgInd
Discriminate Race Other Acty	0	DiscriminateRaceOtherActyInd
Government Financial Aid Rcvd	Yes (1)	GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd	0	GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550	Yes (1)	ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE E, PART I, LINE 3	ADVERTISING THROUGH THE ASSOCIATION OF INDEPENDENT SCHOOLS OF NEW ENGLAND.
FORM 990, SCHEDULE E, LINE 6A	FEDERAL LUNCH PROGRAM AND TITLE IIA FUNDS.

Schedule G IRS990ScheduleG

Field	Value	IRS element (for citing)
Email Solicitations	Yes (X)	EmailSolicitationsInd
In Person Solicitations	Yes (X)	InPersonSolicitationsInd
Solicitation Of Govt Grants	Yes (X)	SolicitationOfGovtGrantsInd
Special Fundraising Events	Yes (X)	SpecialFundraisingEventsInd
Agrmt Prof Fundraising Acty	0	AgrmtProfFundraisingActyInd
Licensed States	MA	LicensedStatesCd

Fundraising Event Information FundraisingEventInformationGrp

Field	Value	IRS element (for citing)
Event1	FALL DINNER	Event1Nm
Gross Receipts Event1	$227,705	GrossReceiptsEvent1Amt
Charitable Contri Event1	$177,305	CharitableContriEvent1Amt
Gross Revenue Event1	$50,400	GrossRevenueEvent1Amt
Non Cash Prizes Event1	$5,518	NonCashPrizesEvent1Amt
Rent Facility Costs Event1	$25,161	RentFacilityCostsEvent1Amt
Other Direct Expenses Event1	$20,506	OtherDirectExpensesEvent1Amt
Event2	FENWAY	Event2Nm
Gross Receipts Event2	$162,876	GrossReceiptsEvent2Amt
Charitable Contri Event2	$139,076	CharitableContriEvent2Amt
Gross Revenue Event2	$23,800	GrossRevenueEvent2Amt
Non Cash Prizes Event2	$3,301	NonCashPrizesEvent2Amt
Rent Facility Costs Event2	$15,912	RentFacilityCostsEvent2Amt
Other Direct Expenses Event2	$12,251	OtherDirectExpensesEvent2Amt
Other Events Total	0	OtherEventsTotalCnt
Gross Receipts Total	$390,581	GrossReceiptsTotalAmt
Charitable Contributions Tot	$316,381	CharitableContributionsTotAmt
Gross Revenue Total Events	$74,200	GrossRevenueTotalEventsAmt
Non Cash Prizes Total Events	$8,819	NonCashPrizesTotalEventsAmt
Rent Fclty Costs Total Events	$41,073	RentFcltyCostsTotalEventsAmt
Oth Direct Expnss Total Events	$32,757	OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events	$82,649	DirectExpenseSummaryEventsAmt
Net Income Summary	-$8,449	NetIncomeSummaryAmt

Schedule M IRS990ScheduleM

Securities Publicly Traded SecuritiesPubliclyTradedGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	6	ContributionCnt
Noncash Contributions Rpt F990	$29,453	NoncashContributionsRptF990Amt
Method Of Determining Revenues	FAIR VALUE	MethodOfDeterminingRevenuesTxt

Field	Value	IRS element (for citing)
Any Property That Must Be Held	0	AnyPropertyThatMustBeHeldInd
Review Process Unusual NC Gifts	0	ReviewProcessUnusualNCGiftsInd
Third Parties Used	0	ThirdPartiesUsedInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11B	THE BOARD RECEIVES AND APPROVES THE 990 BEFORE IT IS SUBMITTED TO THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	THE TRUSTEES AND OFFICERS OF THE ACADEMY SHALL EXERCISE UTMOST GOOD FAITH, LOYALTY AND CARE IN ALL ACTIONS ASSOCIATED WITH THE PERFORMANCE OF THEIR DUTIES TO THE ACADEMY. THEY SHALL NOT USE THEIR POSITION AS TRUSTEES OR OFFICERS, OR KNOWLEDGE GAINED THEREFROM, SO THAT A CONFLICT MIGHT ARISE BETWEEN THE ACADEMY'S INTEREST AND THEIR OWN, OR THAT ANY FIRM OR ORGANIZATION WITH WHICH THEY ARE ASSOCIATED. A CONFLICT OF INTEREST ARISES IN ANY SITUATION IN WHICH A TRUSTEE OR OFFICER (AND HIS OR HER IMMEDIATE FAMILY) IS INVOLVED IN A CONTRACT, TRANSACTION OR ACTIVITY WHICH COULD ADVERSLY AFFECT HIS OR HER JUDGEMENT WITH RESPECT TO THE ACADEMY'S AFFAIRS OR OTHERWISE DIMINISH THE INTEREST OF, OR CONFIDENCE IN, THE ACADEMY. IN THEIR DEALING WITH AND ON BEHALF OF THE ACADEMY, TRUSTEES AND OFFICERS SHALL BE HELD TO A STRICT RULE OF HONEST AND FAIR DEALING BETWEEN THEMSELVES AND THE ACADEMY. WHEN SUCH A CONFLICT ARISES, THE INDIVIDUAL WITH THE CONFLICT IS EXPECTED TO DISCLOSE IN WRITING TO THE BOARD OF TRUSTEES THE EXISTENCE OF THE CONFLICT. ANY TRUSTEE OR OFFICER INDIVIDUALLY, OR ANY FIRM OR ORGANIZATION WITH WHICH SUCH TRUSTEE OR OFFICER IS ASSOCIATED, MAY, HOWEVER, BE A PARTY TO OR MAY BE PECUNIARILY OR OTHERWISE INTERESTED IN A CONTRACT, TRANSACTION OR ACTIVITY OF THE ACADEMY, PROVIDED THAT THE FACT THAT SUCH INTEREST EXISTS SHALL HAVE BEEN KNOWN BY OR DISCLOSED TO THE BOARD OF TRUSTEES PRIOR TO THE TRUSTEES CONSIDERING OR TAKING ACTION WITH RESPECT TO SUCH CONTRACT, TRANSACTION, OR ACTIVITY. WHEN ADVISABLE AND IN THE BEST INTEREST OF THE ACADEMY, THE TRUSTEE OR OFFICER SO INVOLVED MAY BE ASKED TO RECUSE HIMSELF OR HERSELF FROM DISCUSSION AND ACTION OF THE BOARD OF TRUSTEES INVOLVING SUCH INTEREST, AND SUCH RECUSAL SHALL BE NOTED IN THE MINUTES OR OTHER RECORDS OF THE ACADEMY. TRUSTEES AND OFFICERS ARE REQUIRED TO SUBMIT A SIGNED CONFLICT OF INTEREST DISCLOSURE FORM ANNUALLY TO THE BOARD SECRETARY.
FORM 990, PART VI, SECTION B, LINE 15	THE ACADEMY DESIRES TO PROVIDE THE HEAD WITH A WRITTEN EMPLOYMENT CONTRACT IN ORDER TO ENHANCE ADMINISTRATIVE STABILITY AND CONTINUITY WITHIN THE ACADEMY. THE ACADEMY BELIEVES A WRITTEN CONTRACT IMPROVES THE QUALITY OF ITS OVERALL EDUCATIONAL PROGRAM, AND THE PARTIES FURTHER BELIEVE THAT A WRITTEN EMPLOYMENT CONTRACT IS NECESSARY AND APPROPRIATE TO DESCRIBE SPECIFICALLY THE RELATIONSHIP BETWEEN THE HEAD, THE BOARD OF TRUSTEES, AND THE ACADEMY. THE PARTIES FURTHER BELIEVE THE WRITTEN CONTRACT WILL SERVE AS A BASIS OF EFFECTIVE COMMUNICATION AND UNDERSTANDING BETWEEN THE TRUSTEES AND THE HEAD AS THEY FULFILL THEIR GOVERNANCE AND ADMINISTRATIVE FUNCTIONS. 15B. TAKEN FROM ESPERANZA ACADEMY'S BY-LAWS: "ESPERANZA ACADEMY SHALL, TO THE EXTENT LEGALLY PERMISSABLE, INDEMNIFY EACH PERSON WHO MAY SERVE OR WHO HAS SERVED AT ANY TIME AS A TRUSTEE, OR OFFICER OF THE CORPORATION OR WHO AT THE REQUEST OF THE CORPORATION MAY SERVE OR AT ANY TIME HAS SERVED AS A FIDUCIARY OR TRUSTEE OF AN EMPLOYEE BENEFIT PLAN OF THE CORPORATION (COLLECTIVELY, "INDEMNIFIED OFFICERS OR INDIVIDUALLY, "INDEMNIFIED OFFICER"), AGAINST ALL EXPENSES AND LIABILITIES, INCLUDING, WITHOUT LIMITATION, COUNSEL FEES, JUDGMENTS, FINES, EXCISE TAXES, PENALTIES AND SETTLEMENT PAYMENTS, REASONABLY INCURRED BY OR IMPOSED UPON SUCH PERSON PROCEEDING WHETHER CIVIL, CRIMINAL, ADMINISTRATIVE OR INVESTIGATIVE (A "PROCEEDING") IN WHICH AN INDEMNIFIED OFFICER MAY BECOME INVOLVED BY REASON OF SERVING OR HAVING SERVED IN SUCH CAPACITY (OTHER THAN A PROCEEDING VOLUNTARILY INITIATED BY SUCH A PERSON UNLESS A MAJORITY OF THE FULL BOARD OF DIRECTORS AUTHORIZED THE PROCEEDING); PROVIDED THAT NO INDEMNIFICATION SHALL BE PROVIDED FOR ANY SUCH INDEMNIFIED OFFICER SHALL HAVE BEEN FINALLY ADJUDICATED IN ANY PROCEEDING NOT TO HAVE ACTED IN GOOD FAITH IN THE REASONABLE BELIEF THAT SUCH INDEMNIFIED OFFICER'S ACTION WAS IN THE BEST INTERESTS OF THE CORPORATION OR, TO THE EXTENT THAT SUCH MATTER RELATES TO SERVICE WITH RESPECT TO AN EMPLOYEE BENEFIT PLAN, IN THE BEST INTERESTS OF THE PARTICIPANTS OR BENEFICIARIES OF SUCH EMPLOYEE BENEFIT PLAN. SUCH INDEMNIFICATION MAY, TO THE EXTENT AUTHORIZED BY THE BOARD OF TRUSTEES, INCLUDE PAYMENT BY THE CORPORATION OR EXPENSES INCURRED IN DEFENDING A CIVIL OR CRIMINAL ACTION OR PROCEEDING IN ADVANCE OF THE FINAL DISPOSITION OF SUCH ACTION OR PROCEEDING, UPON RECEIPT OF AN UNDERTAKING BY THE INDEMNIFIED OFFICER TO PREPAY SUCH PAYMENT IF NOT ENITITLED TO INDEMNIFICATION UNDER THIS ARTICLE, WHICH UNDERTAKING MAY BE ACCEPTED WITHOUT REGARD TO THE FINANCIAL ABILITY OF SUCH INDEMNIFIED OFFICER TO MAKE REPAYMENT. THE INDEMNIFICATION PROVIDED HEREUNDER SHALL INURE TO THE BENEFIT OF THE HEIRS, EXECUTORS AND ADMINISTRATORS OF ANY INDEMNIFIED OFFICER ENITITLED TO INDEMNIFICATION HEREUNDER. THE RIGHT OF INDEMNIFICATION UNDER THIS ARTICLE SHALL BE IN ADDITION TO AND NOT EXCLUSIVE OF ALL OTHER RIGHTS TO WHICH ANY PERSON MAY BE ENTITLED. NOTHING CONTAINED IN THIS ARTICLE SHALL AFFECT THE RIGHTS TO INDEMNIFICATION TO WHICH CORPORATION EMPLOYEES, AGENTS, DIRECTORS, OFFICERS AND OTHER PERSONS MAY BE ENTITLED BY CONTRACT, STATUTE OR OTHERWISE UNDER LAW. NO AMENDMENT OR REPEAL OF THE PROVISIONS OF THIS ARTICLE WHICH ADVERSELY AFFECTS THE RIGHT OF AN INDEMNIFIED OFFICER UNDER THIS ARTICLE SHALL APPLY TO THE INDEMNIFIED OFFICER WITH RESPECT TO THE ACTS OR OMISSIONS OF SUCH INDEMNIFIED OFFICER THAT OCCURED AT ANY TIME PRIOR TO SUCH AMENDMENT OR REPEAL, UNLESS SUCH AMENDMENT OR REPEAL WAS VOTED FOR BY OR WAS MADE WITH THE WRITTEN CONSENT OF SUCH INDEMNIFIED OFFICER. ESPERANZA ACADEMY SHALL PURCHASE AND MAINTAIN IN FORCE APPROPRIATE TRUSTEE AND OFFICER LIABILITY INSURANCE."
FORM 990, PART VI, SECTION C, LINE 19	CONFLICT OF INTEREST POLICY IS CONTAINED IN THE ESPERANZA ACADEMY'S BY-LAWS AND PERSONNEL POLICIES. FINANCIAL STATEMENTS AND MASS FORM PC ARE AVAILABLE UPON REQUEST.
FORM 990, PART XII, LINE 2C:	THE AUDIT COMMITTEE HAS OVERSIGHT OF THE AUDIT REVIEW PROCESS. THE PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.