Carmel Academy: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- Carmel Academy (EIN 13-4013334)
- Tax period
- 2016-07-01 to 2017-06-30
- Filed
- 2018-05-15
- IRS object ID
- 201801359349309955
- Schema version
- 2016v3.0
- 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 I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2018-05-15T15:09:38-05:00 | ReturnTs |
| Tax Period End | 2017-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 113518842 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Marks Paneth LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 30 Oak Street | AddressLine1Txt |
| City | Stamford | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06905 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2016-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 134013334 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Carmel Academy | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CARM | BusinessNameControlTxt |
| Phone | 2038639663 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 270 Lake Ave | AddressLine1Txt |
| City | Greenwich | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 068304518 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Nora Anderson | PersonNm |
| Person Title | Head of School | PersonTitleTxt |
| Phone | 2038639663 | PhoneNum |
| Signature | 2018-05-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Scott M Brenner | PreparerPersonNm |
| PTIN | P01247233 | PTIN |
| Phone | 2039758830 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Nora Anderson | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 270 Lake Ave | AddressLine1Txt |
| City | Greenwich | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 068304518 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $11,689,448 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.carmelacademy.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1997 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | Carmel Academy provides a meaningful Jewish day school experience for all children. | ActivityOrMissionDesc |
| Voting Members Governing Body | 17 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 17 | VotingMembersIndependentCnt |
| Total Employee | 139 | TotalEmployeeCnt |
| Total Volunteers | 117 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,679,627 | PYContributionsGrantsAmt |
| CY Contributions Grants | $2,307,368 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $6,696,869 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $7,721,075 | CYProgramServiceRevenueAmt |
| PY Investment Income | $37,954 | PYInvestmentIncomeAmt |
| CY Investment Income | $69,383 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,174,087 | PYOtherRevenueAmt |
| CY Other Revenue | $805,485 | CYOtherRevenueAmt |
| PY Total Revenue | $10,588,537 | PYTotalRevenueAmt |
| CY Total Revenue | $10,903,311 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,400,450 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,592,645 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,516,622 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,723,584 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $418,516 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $3,218,504 | PYOtherExpensesAmt |
| CY Other Expenses | $3,006,726 | CYOtherExpensesAmt |
| PY Total Expenses | $11,135,576 | PYTotalExpensesAmt |
| CY Total Expenses | $11,322,955 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$547,039 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$419,644 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $28,218,018 | TotalAssetsBOYAmt |
| Total Assets EOY | $27,837,721 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $16,389,943 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $16,071,128 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $11,828,075 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $11,766,593 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | Carmel Academy is an educational institution that stretches each child's intellect and creativity; that is passionate about Jewish identity and values; that is committed to the betterment of our world and a strong bond with the State of Israel. Our faculty models it ... our students live it. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $8,578,722 | ExpenseAmt |
| Grant | $1,592,645 | GrantAmt |
| Revenue | $7,733,509 | RevenueAmt |
| Desc | Carmel Academy is a forward-thinking private school for children of all Jewish affiliations, offering each of its students an exceptional, challenging and creative educational experience from kindergarten through eighth grade. Accredited with distinction by the Connecticut Association of Independent Schools, Carmel Academy's multi-disciplinary educational approach encourages its students to make connections between the classroom and the world. Experienced, passionate master teachers bring the school's educational philosophy to life, instilling creativity, critical thinking and a joy of learning in each student. With the benefits of a low student-teacher ratio and a dynamic, differentiated learning environment, students master the knowledge essential to continue on to the finest secondary schools, as well as to think critically and in a broader scope. The school's expert educational leadership designed Carmel Academy's dual curriculum from the ground up - incorporating only the highest in national standards - to integrate general and Judaic knowledge throughout the day. Set on a beautiful, historic 17-acre campus in Greenwich, CT, Carmel Academy is equipped with the infrastructure and technology to make it an unrivaled 21st century educational institution. With its central Greenwich location, Carmel attracts students throughout Fairfield and Westchester Counties, as well Riverdale and Manhattan. The school offers state-of-the-art laboratory and computer resources, as well as award winning enrichment programs to foster excellence in science, technology, engineering and mathematics (STEM). Children enjoy a wide-array of extracurricular activities and interscholastic team sports.As part of Carmel Academy's commitment to providing a meaningful Jewish day school experience for all children, the school offers a special education program for children with language-based learning disabilities. PALS (Providing Alternative Learning Strategies) gives children with special needs the tools to maximize their academic potential, while at the same time affording them the myriad benefits of a Jewish education.Carmel Academy provides an excellent foundation for long-term academic success, while fostering a deep love and connection to a common Jewish identity through history and culture, prayer and text, Zionism and Hebrew as a modern, living language. | Desc |
| Total Program Service Expenses | $8,578,722 | 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 | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | 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 | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | Yes (1) | 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 | 66 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 139 | 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 | 0 | QuidProQuoContributionsInd |
| 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 |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 17 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 17 | 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 | NY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Pam Franco Director of Finance | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2038639663 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 270 Lake Ave | AddressLine1Txt |
| City | Greenwich | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 068304518 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| Evan Levy | ||||||
| President | 16.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Laurel Asness | ||||||
| Vice President | 8.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Yale Paprin | ||||||
| Vice President | 8.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Jonathan Malkin | ||||||
| Treasurer | 8.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Rochelle Tarlowe | ||||||
| Secretary | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Emanuel Citron | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Pam Feldstein | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Ivan Horak | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Michael Kaplan | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Gilad Kalter | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Guy Levy | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Robye Margolius | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Jeffrey Richard | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Stuart Roth | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Adam Safer | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Cori SaNogueira | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Noah Yechiely | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Nora Anderson | ||||||
| Head of School | 40.00 | Yes (X) | $174,945 | $0 | $14,436 | |
| Risa Vine | ||||||
| Chief Fin. Officer as of 10/31/16 | 40.00 | Yes (X) | $66,500 | $0 | $50,780 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $241,445 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $65,216 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Beth Torah Kosher Caterers llc | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 106-06 Queens Blvd | AddressLine1Txt |
| City | Forest Hills | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 11375 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | Catering services | ServicesDesc |
| Compensation | $126,105 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $2,307,368 | AllOtherContributionsAmt |
| Noncash Contributions | $85,398 | NoncashContributionsAmt |
| Total Contributions | $2,307,368 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Student tuition & fees | 611600 | $7,520,376 | $7,520,376 |
| Activity revenue | 611600 | $200,699 | $200,699 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $7,721,075 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $40,952 | TotalRevenueColumnAmt |
| Exclusion | $40,952 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,176,385 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $383,334 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $793,051 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $793,051 | TotalRevenueColumnAmt |
| Exclusion | $793,051 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $431,234 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $402,803 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $28,431 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $28,431 | TotalRevenueColumnAmt |
| Exclusion | $28,431 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Miscellaneous Income | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $12,434 | TotalRevenueColumnAmt |
| Exclusion | $12,434 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $12,434 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,903,311 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $7,721,075 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $874,868 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,592,645 | TotalAmt |
| Program Services | $1,592,645 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $267,826 | TotalAmt |
| Program Services | $208,721 | ProgramServicesAmt |
| Management And General | $49,562 | ManagementAndGeneralAmt |
| Fundraising | $9,543 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,124,676 | TotalAmt |
| Program Services | $3,993,736 | ProgramServicesAmt |
| Management And General | $948,333 | ManagementAndGeneralAmt |
| Fundraising | $182,607 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $946,655 | TotalAmt |
| Program Services | $793,289 | ProgramServicesAmt |
| Management And General | $128,603 | ManagementAndGeneralAmt |
| Fundraising | $24,763 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $384,427 | TotalAmt |
| Program Services | $299,590 | ProgramServicesAmt |
| Management And General | $71,139 | ManagementAndGeneralAmt |
| Fundraising | $13,698 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $72,265 | TotalAmt |
| Management And General | $72,265 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,500 | TotalAmt |
| Management And General | $25,500 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $368 | TotalAmt |
| Management And General | $368 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,288 | TotalAmt |
| Management And General | $33,288 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74,806 | TotalAmt |
| Management And General | $74,806 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $265,866 | TotalAmt |
| Management And General | $155,267 | ManagementAndGeneralAmt |
| Fundraising | $110,599 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $55,902 | TotalAmt |
| Management And General | $55,902 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,928 | TotalAmt |
| Management And General | $8,928 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $575,093 | TotalAmt |
| Program Services | $448,179 | ProgramServicesAmt |
| Management And General | $106,422 | ManagementAndGeneralAmt |
| Fundraising | $20,492 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $755,204 | TotalAmt |
| Program Services | $588,542 | ProgramServicesAmt |
| Management And General | $139,752 | ManagementAndGeneralAmt |
| Fundraising | $26,910 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $155,619 | TotalAmt |
| Management And General | $155,619 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| Auxiliary Services | $373,308 | $290,924 | $69,082 | $13,302 |
| Repairs & Maintenance | $280,250 | $218,403 | $51,861 | $9,986 |
| Instructional | $174,217 | $135,770 | $32,239 | $6,208 |
| Bad Debt Expense | $144,663 | $144,663 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,449 | TotalAmt |
| Program Services | $8,923 | ProgramServicesAmt |
| Management And General | $2,118 | ManagementAndGeneralAmt |
| Fundraising | $408 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,322,955 | TotalAmt |
| Program Services | $8,578,722 | ProgramServicesAmt |
| Management And General | $2,325,717 | ManagementAndGeneralAmt |
| Fundraising | $418,516 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $988,148 | BOYAmt |
| EOY | $474,517 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,303 | BOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $793,147 | BOYAmt |
| EOY | $703,857 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $186,854 | BOYAmt |
| EOY | $543,588 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $121,289 | BOYAmt |
| EOY | $28,430 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $32,595,943 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $8,977,098 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,164,068 | BOYAmt |
| EOY | $23,618,845 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,904,983 | BOYAmt |
| EOY | $2,426,393 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $54,226 | BOYAmt |
| EOY | $42,091 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,218,018 | BOYAmt |
| EOY | $27,837,721 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $609,673 | BOYAmt |
| EOY | $685,991 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $623,891 | BOYAmt |
| EOY | $541,916 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,239,000 | BOYAmt |
| EOY | $3,239,000 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,452,892 | BOYAmt |
| EOY | $11,181,507 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $464,487 | BOYAmt |
| EOY | $422,714 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,389,943 | BOYAmt |
| EOY | $16,071,128 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,718,675 | BOYAmt |
| EOY | $11,663,993 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $109,400 | BOYAmt |
| EOY | $102,600 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,828,075 | BOYAmt |
| EOY | $11,766,593 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,218,018 | BOYAmt |
| EOY | $27,837,721 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$419,644 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $285,897 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $72,265 | DonatedServicesAndUseFcltsAmt |
| 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
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,230,568 | OtherCostOrOtherBasisAmt |
| Book Value | $6,230,568 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $24,479,186 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,323,090 | DepreciationAmt |
| Book Value | $17,156,096 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,428,004 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,253,770 | DepreciationAmt |
| Book Value | $174,234 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $458,185 | OtherCostOrOtherBasisAmt |
| Depreciation | $400,238 | DepreciationAmt |
| Book Value | $57,947 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $23,618,845 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Investments | Desc |
| Book Value | $2,426,393 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $2,426,393 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| Interest payable | $340,169 |
| Interest rate swap agreement liability | $82,545 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $422,714 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $9,486,134 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $285,897 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $72,265 | DonatedServicesAndUseFcltsAmt |
| Other Revenue | $383,334 | OtherRevenueAmt |
| Revenue Not Reported | $741,496 | RevenueNotReportedAmt |
| Revenue Subtotal | $8,744,638 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $368 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $2,158,305 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $2,158,673 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $10,903,311 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $9,547,616 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $383,334 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $383,334 | ExpensesNotReportedAmt |
| Expenses Subtotal | $9,164,282 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $368 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $2,158,305 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $2,158,673 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $11,322,955 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part X, Line 2: | The School evaluates all significant tax positions as required by accounting principles generally accepted in the United States of America. As of June 30, 2017, the School does not believe that it has taken any positions that would require the recording of any additional tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year. |
| Part XI, Line 2d - Other Adjustments: | Reimbursed expenses from Japanese School 383,334. |
| Part XI, Line 4b - Other Adjustments: | Tuition assistance included net tuition 1,844,345. Investment gains and change in value of interest rate cap and swap 313,960. |
| Part XII, Line 2d - Other Adjustments: | Reimbursed expenses from Japanese School 383,334. |
| Part XII, Line 4b - Other Adjustments: | Tuition assistance included net tuition 1,844,345. Investment gains and change in value of interest rate cap and swap 313,960. |
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 | 0 | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | 0 | 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 | 0 | 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 | The academy is a Jewish day school and primarily publicizes in the Jewish community. It has a non-discriminatory policy and there are minority Jewish students that apply and attend. |
| Schedule E, Part I, Line 4 | We don't maintain a complete or accurate record of racial composition of the student body. We do not track or record ethnicity for faculty or staff. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | Need based financial aid | GrantTypeTxt |
| Recipient | 93 | RecipientCnt |
| Cash Grant | $1,592,645 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part III | FormAndLineReferenceDesc |
| Explanation | Assistance decisions are guided by financial data submitted by parents to the Director of Finance and Operations. This financial information, along with the names of families who ultimately receive tuition assistance, is kept confidential and not shared with any member of the Carmel Academy community. Tuition assistance is awarded annually and for one year at a time. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Nora Anderson | PersonNm |
| Title | Head of School | TitleTxt |
| Base Compensation Filing Org | $174,945 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $14,436 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $189,381 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Colorado Educational and Cultural Facilities Authority | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 840896727 | BondIssuerEIN |
| CUSIP | 999999999 | CUSIPNum |
| Bond Issued | 2014-02-05 | BondIssuedDt |
| Issue Price | $12,000,000 | IssuePriceAmt |
| Purpose | To refinance borrower debt from FJC and The Conduit Foundation | PurposeDesc |
| Defeased | 0 | DefeasedInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Pool Financing | 0 | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Total Proceeds | $12,000,000 | TotalProceedsAmt |
| Issuance Costs From Proceeds | $239,000 | IssuanceCostsFromProceedsAmt |
| Other Spent Proceeds | $11,761,000 | OtherSpentProceedsAmt |
| Substantial Completion | 2021 | SubstantialCompletionYr |
| Current Refunding | 0 | CurrentRefundingInd |
| Advance Refunding | 0 | AdvanceRefundingInd |
| Final Allocation Made | 0 | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (1) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | 0 | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | 0 | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | 0 | MgmtContractBondFincdPropInd |
| Any Research Agreements | 0 | AnyResearchAgreementsInd |
| Bond Iss Meet Prvt Sec Pymt Test | 0 | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | Yes (1) | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiledInd |
| Rebate Not Due Yet | 0 | RebateNotDueYetInd |
| Exception To Rebate | 0 | ExceptionToRebateInd |
| No Rebate Due | 0 | NoRebateDueInd |
| Variable Rate Issue | Yes (1) | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | Yes (1) | HedgeIdentifiedInBksAndRecInd |
Hedge Provider Name HedgeProviderName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | M&T Trust Company | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 7.000000000000 | TermOfHedgePct |
| Superintegrated Hedge | 0 | SuperintegratedHedgeInd |
| Hedge Terminated | 0 | HedgeTerminatedInd |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | 0 | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | Yes (1) | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | Yes (1) | ProceduresCorrectiveActionInd |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Conduit Fdn | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Loan Purpose | To purchase the campus at 270 Lake Ave | LoanPurposeTxt |
| Loan To Organization | Yes (X) | LoanToOrganizationInd |
| Original Principal | $11,980,000 | OriginalPrincipalAmt |
| Balance Due | $3,239,000 | BalanceDueAmt |
| Default | 0 | DefaultInd |
| Board Or Committee Approval | Yes (1) | BoardOrCommitteeApprovalInd |
| Written Agreement | Yes (1) | WrittenAgreementInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $3,239,000 | TotalBalanceDueAmt |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 5 | ContributionCnt |
| Noncash Contributions Rpt F990 | $85,398 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | 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 audit committee reviews the form 990 and supplies its comments. Once the return is final the organization provides the governing body with a copy of the form 990 prior to it being filed with the IRS. |
| Form 990, Part VI, Section B, line 12c | The board members are required to sign the COI statement annually. |
| Form 990, Part VI, Section B, line 15 | The Finance Committee Chair and President of the School have the ability to extend the Head of School contract annually or based on a predetermined term. During the negotiation process, they consider other comparable local HOS school compensation packages when they are available. The Head of School negotiates all other highly compensated employee packages. |
| Form 990, Part VI, Section C, line 19 | The governing documents, conflict of interest policy, financial statements and form 990 are available upon request. |
| Form 990, Part XII, Line 2C | Carmel Academy has an audit committee that assumes the responsibility for overseeing the audit. This process has not changed from previous years. |
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