2018-04-12T07:59:26-05:00 2017-06-30 131517563 LOEB & TROPER LLP 655 THIRD AVENUE 12TH FLOOR NEW YORK NY 10017 990 2016-07-01 135653140 CORLEARS SCHOOL CORL 2127412800 324 WEST 15TH STREET NEW YORK NY 10011 ROBERT FANTAUZZI DIRECTOR, BUSINESS & FINANCE 2127412800 2018-04-09 1 AARON SHAPIRO P01333816 2128674000 38.98.118.70 2018-04-10 13:42:04 ED P D7076C0EC39B17C3336BFEA465ABF20A32036F2A 73A2BDB4DEE3E1301F7FB9DCBA9193E2BC5F7900 2016 2021-01-29 14:40:06Z ROBERT FANTAUZZI 324 WEST 15TH STREET NEW YORK NY 10011 6652467 0 X WWW.CORLEARSSCHOOL.ORG X 1970 NY TO OPERATE A NON-PROFIT PRIVATE SCHOOL FOR STUDENTS AGED 2-10. 19 19 67 50 0 0 684859 553234 5638981 6036690 3325 3814 1654 -21367 6328819 6572371 1070804 1286128 0 0 3663250 3759590 117875 5000 192953 1627044 1539505 6478973 6590223 -150154 -17852 13135040 12780953 9912732 9576497 3222308 3204456 X CORLEARS STUDENTS LEARN, PLAY AND GROW TOGETHER IN A SCHOOL DESIGNED FOR WHO THEY ARE AT AGES 2 THROUGH 10. DURING THESE CRUCIAL FORMATIVE YEARS, WE BUILD A FOUNDATION OF COMPASSION, CRITICAL THINKING, IMAGINATION AND LEADERSHIP, AND CULTIVATE A JOY AND CONFIDENCE IN LEARNING THAT SERVES OUR GRADUATES THROUGHOUT THEIR LIVES. 0 0 4908337 1286128 6036690 CORLEARS SCHOOL IS AN INDEPENDENT PROGRESSIVE SCHOOL FOR STUDENTS AGED 2-10. IT PROVIDES NURSERY THROUGH FIFTH GRADE EDUCATIONAL SERVICES, SERVING 140 STUDENTS. 4908337 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 40 0 67 1 0 0 0 0 0 1 1 0 0 0 0 X 19 19 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROBERT FANTAUZZI 2127412800 324 WEST 15TH STREET NEW YORK NY 10011 JO BURNSIDE CHAIR 1.00 X X 0 0 0 JOEL STEINHAUS VICE CHAIR 1.00 X X 0 0 0 STEPHANIE CONNOR TREASURER 1.00 X X 0 0 0 MARY SANTAMARINA SECRETARY 1.00 X X 0 0 0 LEE KEMPLER OFFICER 1.00 X 0 0 0 JACIE ECKHOUSE OFFICER 1.00 X 0 0 0 SABRINA COUGHLIN BOARD MEMBER 1.00 X 0 0 0 MORGAN KAVANAGH BOARD MEMBER 1.00 X 0 0 0 JASON KELLEY BOARD MEMBER 1.00 X 0 0 0 RYAN PARISH BOARD MEMBER 1.00 X 0 0 0 NILDA RESNICK BOARD MEMBER 1.00 X 0 0 0 LIONEL SHOCKNESS BOARD MEMBER 1.00 X 0 0 0 BRANDON WEBER BOARD MEMBER 1.00 X 0 0 0 DAHLIA FISCHBEIN BOARD MEMBER 1.00 X 0 0 0 MAYANK SINGH BOARD MEMBER 1.00 X 0 0 0 SYLVIE FAN BOARD MEMBER 1.00 X 0 0 0 DAVID COHEN BOARD MEMBER 1.00 X 0 0 0 RENEE NICHOLSON BOARD MEMBER 1.00 X 0 0 0 CHRISTOPHER NICHOLSON BOARD MEMBER 1.00 X 0 0 0 DAVID EGOLF HEAD OF SCHOOL 40.00 X 219708 0 21423 ROBERT FANTAUZZI DIR OF BUSINESS & FINANCE 40.00 X 160663 0 9541 AMY MARIE RIVERA ASSISTANT HEAD 40.00 X 111981 0 34247 492352 0 65211 3 0 1 0 0 206119 347115 553234 TUITION & FEES 611110 5732993 5732993 AFTER SCHOOL 611110 176826 176826 SUMMER SCHOOL 611110 120859 120859 EARLY BIRD CHILD CARE 611110 6012 6012 6036690 3814 3814 24070 206119 78846 -54776 -54776 11859 1250 10609 10609 MISCELLANEOUS 900099 22800 22800 22800 6572371 6036690 0 -17553 1286128 1286128 432009 267846 146883 17280 2695847 1671425 916588 107834 93828 58173 31902 3753 294287 182458 100058 11771 243619 151412 83554 8653 23624 23624 31500 31500 5000 5000 61358 61358 13371 13371 239936 158224 59436 22276 5851 1042 4809 311289 284540 26749 22996 22996 89643 88773 870 426322 383690 42632 57444 50487 6957 MISCELLANEOUS 186024 169638 16386 SUBCONTRACTS - SPECIAL 41147 41147 PAINTING- SUMMER PROJEC 25000 25000 BAD DEBT 4000 4000 6590223 4908337 1488933 192953 115633 144929 1450262 1304077 140181 77980 61876 73607 110967 60418 14238997 3119055 11256121 11119942 13135040 12780953 391331 397112 1937840 1765528 7462061 7316357 121500 97500 9912732 9576497 X 2913207 2975720 248097 167732 61004 61004 3222308 3204456 13135040 12780953 -17852 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 61004 1355 1355 61004 61004 715 715 61004 255004 32 194000 32 61004 255004 56 56 255004 255004 43649 43649 255004 1.00000 0 0 453000 453000 12781278 2670788 10110490 514006 448267 65739 490713 490713 11119942 STUDENT BONDS PAYABLE 97500 97500 X 5286243 0 5286243 1286128 1286128 6572371 5304095 0 5304095 1286128 1286128 6590223 PART V, LINE 4: PART V LINE 4: THE SCHOOL'S ENDOWMENT FUND INCOME IS AVAILABLE FOR GENERAL OPERATIONS. PART X, LINE 2: THE SCHOOL HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PERIODS ENDING JUNE 30, 2014 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS 1,286,128. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS 1,286,128. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 SCHOOL'S APPLICATION & INDEPENDENT SCHOOL ASSOCIATION SITES, SUCH AS NYSAIS AND NAIS. X X X X 1 CCS FUNDRAISING PO BOX 824885 PHILADELPHIA PA 19182 FUNDRAISING 0 0 5000 -5000 5000 -5000 NY ANNUAL AUCTION 230189 206119 24070 43014 4250 31582 230189 206119 24070 43014 4250 31582 78846 -54776 1 1 FINANCIAL AID 42 1286128 PART I, LINE 2: THE BOARD ANNUALLY MEETS TO DECIDE THE FINANCIAL AID BEING AWARDED FOR THE YEAR. ALL AMOUNTS ARE REVIEWED AND APPROVED IN THE FOLLOWING MANNER: FAMILIES ARE REQUIRED TO REGISTER AND PROVIDE EARNINGS DATA TO A THIRD PARTY FINANCIAL EVALUATOR. THE FINANCIAL AID COMMITTEE REVIEWS THE INFORMATION AND MAKES A DECISION BASED UPON NEED. THIS PROCEDURE IS DONE ANNUALLY BY MARCH. X X X 0 0 0 0 0 0 0 0 0 DAVID EGOLF HEAD OF SCHOOL 219708 0 0 0 0 0 14002 0 7421 0 241131 0 0 0 ROBERT FANTAUZZI DIR OF BUSINESS & FINANCE 159800 0 0 0 863 0 9541 0 0 0 170204 0 0 0 A BUILD NYC RESOURCE CORPORATION 454040561 2012-07-18 10000000 REFINANCING OF TAXABLE MORTGAGE TO RENOVATE CORLEARS SCHOOL 0 0 0 A 10000000 199500 9800500 2022 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 1 A 1 NOAM SPANIER FORMER BOARD MEMBER 90513 LEASE OF APARTMENTS FROM COMPANY IN WHICH HE IS A SHAREHOLDER 0 FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED ITS BY-LAWS, AND ADOPTED NEW CONFLICT OF INTEREST AND CONFIDENTIALITY AGREEMENTS FOR TRUSTEES AND KEY EMPLOYEES, AS WELL AS A WHISTLE-BLOWER POLICY TO REFLECT CHANGES IN THE LAW GOVERNING NOT-FOR-PROFIT ORGANIZATIONS. FORM 990, PART VI, SECTION B, LINE 11B THE DIRECTOR OF BUSINESS AND FINANCE ALONG WITH THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES HAVE BEEN TASKED TO REVIEW THE FORM 990 AFTER COMPLETION BY INDEPENDENT TAX ACCOUNTANTS. ONCE THE COMMITTEE'S REVIEW IS COMPLETE, IT WILL BE PROVIDED TO THE FULL BOARD FOR REVIEW. IN THE EVENT THAT QUESTIONS ARISE DURING THE AUDIT COMMITTEE REVIEW OR BOARD REVIEW, AND THE DIRECTOR OF FINANCE IS UNABLE TO PROVIDE AN APPROPRIATE RESPONSE, THE TAX ACCOUNTANTS WILL BE REQUESTED TO PROVIDE FURTHER CLARIFICATION. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. EACH YEAR EVERY MEMBER OF THE BOARD OF TRUSTEES, AS WELL AS OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION CERTIFY THAT THEY HAVE READ THE POLICY AND AGREE TO BE BOUND BY ITS PROVISIONS. THE POLICY NOT ONLY CONTAINS DETAILED PROCEDURES FOR IDENTIFYING CONFLICT OF INTEREST AND RELATED PARTY TRANSACTIONS, BUT ALSO, THE PROCESS BY WHICH THE BOARD REVIEWS AND POSSIBLY APPROVES SUCH TRANSACTIONS, AND THE STEPS TO BE TAKEN IF A PERSON SUBJECT TO THE POLICY FAILS TO COMPLY WITH IT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE HEAD OF SCHOOL'S COMPENSATION ANNUALLY BASED UPON THE CONTRACT REQUIREMENTS AND AN EXAMINATION OF DATA FROM COMPARABLE INSTITUTIONS TO DETERMINE REASONABLE COMPENSATION. THE AFOREMENTIONED PROCESS WAS MOST RECENTLY COMPLETED IN 2016. THE PROCESS TO DETERMINE COMPENSATION OF KEY EMPLOYEES USES COMPARABLE DATA PROVIDED BY NAIS, THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL. THE NAIS DATA MANAGEMENT ANNUAL COLLECTION PROCESS, KNOWN AS DASL, COLLECTS COMPARATIVE DATA FROM ALL OF THEIR MEMBER SCHOOLS IN THE FALL EACH YEAR. COMPARATIVE DATA CAN BE FILTERED TO SIMILAR SIZED SCHOOLS, GEOGRAPHY, GRADE RANGE, AND SPECIFIC AREAS OF NEW YORK CITY. DATA IS ACCESSED ONLINE AND DOWNLOADED TO EXCEL SHEETS FOR FURTHER COMPARISON AND REVIEW. THE DATA IS REVIEWED BY THE HEAD OF SCHOOL, WHO DETERMINES THE ANNUAL SALARIES FOR ALL KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.