2018-02-22T06:31:40-06:00 2017-06-30 050409384 KAHN LITWIN RENZA & CO LTD 800 SOUTH STREET SUITE 300 WALTHAM MA 02453 990 2016-07-01 042134815 LEXINGTON CHRISTIAN ACADEMY LEXI 7818627850 48 BARTLETT AVENUE LEXINGTON MA 02420 GERALD MOORE TREASURER 7818627850 2018-02-21 1 MEYER H LEVY P00036576 7815478800 71.117.160.66 2018-02-21 14:44:15 ES P CF4F43011701AC67CF9143E4F98770E9DAF4C32E 37D944205B0B1500ADBA67DA649DC2E92F86BA45 2016 2021-01-29 14:40:06Z JAMES BOLTON 48 BARTLETT AVENUE LEXINGTON MA 02420 10432921 0 X WWW.LCA.EDU X 1946 MA AN INDEPENDENT COLLEGE PREPARATORY SCHOOL SERVING GRADES SIX THROUGH TWELVE. 19 19 177 100 0 0 1396353 611558 8139143 8088590 471517 397859 -5264 -2129 10001749 9095878 0 0 0 0 5152856 5445498 0 0 396078 3234523 3825543 8387379 9271041 1614370 -175163 26766296 39541375 10121431 21841112 16644865 17700263 LEXINGTON CHRISTIAN ACADEMY IS AN INDEPENDENT COLLEGE PREPARATORY SCHOOL THAT EXISTS TO EDUCATE YOUNG MEN AND WOMEN IN THE ARTS AND SCIENCES IN THE CONTEXT OF A COMPLETE COMMITMENT TO THE GOSPEL OF JESUS CHRIST. 0 0 7631748 8088590 LEXINGTON CHRISTIAN ACADEMY PROVIDES SCHOOLING FOR APPROXIMATELY 307 STUDENTS IN GRADES 6-12 AND A SUMMER DAY CAMP FOR CHILDREN THROUGH GRADE 12. 7631748 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 22 0 177 1 0 0 0 0 0 0 0 0 0 0 X 19 19 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X YOON-HI KING 7818627850 48 BARTLETT AVENUE LEXINGTON MA 02420 JAMES BOLTON CHAIRMAN 1.50 X X 0 0 0 ROBERT LAWRENCE VICE CHAIR 0.50 X X 0 0 0 GERALD MOORE TREASURER 0.50 X X 0 0 0 DIANE CAMBOURELIS CLERK OF THE BOARD 0.50 X X 0 0 0 JOSH BENNETT TRUSTEE 0.50 X 0 0 0 ROBERT BLOODWORTH TRUSTEE 0.50 X 0 0 0 ALEX CIST TRUSTEE 0.50 X 0 0 0 KENNETH FONG TRUSTEE 0.50 X 0 0 0 MICHAEL LEVITZ TRUSTEE 0.50 X 0 0 0 ERIC MOLLENHAUER TRUSTEE 0.50 X 0 0 0 STEPHEN PALMER TRUSTEE 0.50 X 0 0 0 BETH PETIPAS TRUSTEE (AS OF 6/17) 0.50 X 0 0 0 CHARLES PU TRUSTEE 0.50 X 0 0 0 MICHAEL STEVENS TRUSTEE 0.50 X 0 0 0 ELIZABETH SOMERS STUTZMAN TRUSTEE 0.50 X 0 0 0 WALLACE WADMAN TRUSTEE 0.50 X 0 0 0 BENJAMIN WARF TRUSTEE 0.50 X 0 0 0 TED WHEATLEY TRUSTEE 0.50 X 0 0 0 DAVID WILSON TRUSTEE 0.50 X 0 0 0 TIMOTHY RUSSELL HEAD OF SCHOOL 40.00 X 172069 0 24557 YOON-HI KING CHIEF FINANCIAL OFFICER 40.00 X 119930 0 12674 SCOTT STEVENS DIRECTOR OF STUDENT LIFE 40.00 X 104288 0 21217 396287 0 58448 3 0 1 0 NAGOG 530 GREAT ROAD ACTON MA 01720 OWNER'S REP - CONSTRUCTION 1214699 1 4175 607383 23568 611558 TUITION 611710 5762746 5762746 RESIDENTIAL LIFE 611710 1045040 1045040 SUMMER DAY CAMP 611710 944685 944685 INTENSIVE ACAD. ENG. 611710 129200 129200 OTHER INCOME 611710 85129 85129 121790 121790 8088590 115591 115591 1617182 1334914 282268 282268 282268 0 4175 2129 -2129 -2129 9095878 8088590 0 395730 340146 244905 85038 10203 4058925 3415822 457303 185800 108400 87906 16834 3660 623403 508484 79315 35604 314624 261454 38987 14183 12189 12189 41409 41409 15302 15302 6235 5735 500 53585 53585 279866 74312 186341 19213 111933 91969 13733 6231 516013 329169 129299 57545 701 310 391 3268 472 2796 417424 342974 51213 23237 875662 822364 36663 16635 31747 31747 RESIDENTIAL LIFE EXPENS 812601 812601 ATHLETIC PROGRAM EXPENS 135301 135301 DAY CAMP/CLUB EXPENSES 102520 102520 ACADEMIC PROGRAM EXPENS 91074 91074 318713 250791 45046 22876 9271041 7631748 1243215 396078 5472729 5775366 63805 55907 8900 26676 36375527 10765728 14231161 25609799 6327397 7584661 143983 0 518321 488966 26766296 39541375 435580 579890 6227975 17745877 3457876 3515345 10121431 21841112 X 13044225 12457895 1512742 2650724 2087898 2591644 16644865 17700263 26766296 39541375 -175163 1230561 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6578643 90690 1623952 272598 8020687 7399787 17855 -577460 261539 6578643 6306529 568250 751113 226105 7399787 5574634 10045 931298 209448 6306529 4764212 4050 1009784 203412 5574634 0.38090 0.32310 0.29600 0 0 3671923 3671923 27479616 6260433 21219183 1249933 1057653 192280 3010657 2525382 485275 963398 922260 41138 25609799 ADVANCED TUITION & FEES 3406865 STUDENT ACTIVITIES FUND 108480 3515345 X 10313266 1230561 2129 1232690 9080576 15302 15302 9095878 9257868 2129 2129 9255739 15302 15302 9271041 PART X, LINE 2: THE SCHOOL IS EXEMPT FROM INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THAT THE SCHOOL OPERATES IN A MANNER CONSISTENT WITH THEIR TAX-EXEMPT STATUS AT BOTH THE STATE AND FEDERAL LEVEL. THE SCHOOL ANNUALLY FILES IRS FORM 990 - RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, REPORTING VARIOUS INFORMATION THAT THE IRS USES TO MONITOR THE ACTIVITIES OF TAX-EXEMPT ENTITIES. THESE TAX RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES GENERALLY FOR A PERIOD OF THREE YEARS AFTER THEY WERE FILED. THE SCHOOL CURRENTLY HAS NO TAX EXAMINATIONS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES INCLUDED IN NET INCOME FROM FUNDRAISING ACTIVITIES 2,129. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES INCLUDED IN NET INCOME FROM FUNDRAISING ACTIVITIES 2,129. FORM 990, SCHEDULE D, PART XIII THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY SIXTY INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED UPON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE SCHOOL HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE SCHOOL HAS A POLICY OF DISTRIBUTING ON AN ANNUAL BASIS BETWEEN 4% AND 6% OF ITS AVERAGE ANNUAL ENDOWMENT BALANCE FOR EACH OF THE THREE FISCAL YEARS PRECEDING THE END OF THE PREVIOUS FISCAL YEAR. THIS IS CONSISTENT WITH THE SCHOOL'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY OR FOR A SPECIFIED TERM AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 IN ACCORDANCE WITH REV PROC. 75-50, THE SCHOOL HAS SATISFIED THE PUBLICITY REQUIREMENT AS A RESULT OF ITS PUBLICATION OF ITS RACIALLY NONDISCRIMINATORY POLICY IN ALL ITS BROCHURES AND CATALOGUES DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS AND BY THE FACT THAT IT CURRENTLY ENROLLS STUDENTS OF RACIAL MINORITY GROUPS IN MEANINGFUL NUMBERS. THE POLICY IS ALSO PUBLISHED ANNUALLY IN THE BOSTON GLOBE. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 TIMOTHY RUSSELL HEAD OF SCHOOL 88319 0 0 0 83750 0 8375 0 16182 0 196626 0 0 0 PART II, COLUMN (B)(III): THIS AMOUNT REPRESENTS NON-TAXABLE HOUSING ALLOWANCE. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 2006-02-17 2500000 CONSTRUCTION 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 2017-04-27 16410000 PURCHASE OF REAL ESTATE/PAY OFF OF BALANCE OF PRIOR BOND ISSUE 0 0 0 A 2500000 2500000 2006 0 0 1 1 B 16410000 16410000 2017 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 0 B 0 TIMOTHY RUSSELL FORMER HEAD OF SCHOOL 37000 THE SCHOOL HAD A SHARED APPRECIATION AGREEMENT WITH THE FORMER HEAD OF SCHOOL, WHEREBY THE SCHOOL INVESTED $119,980 TO ASSIST WITH THE PURCHASE OF THE PRIMARY RESIDENCE FOR THE FORMER HEAD OF SCHOOL. THE INVESTMENT WAS SECURED BY A MORTGAGE LIEN ON THE RESIDENCE, RECORDED AT THE MIDDLESEX SOUTH DISTRICT REGISTRY OF DEEDS. IN MAY 2017, THE RESIDENCE WAS SOLD AND THE SCHOOL'S SHARE OF THE PROCEEDS WAS $130,348.DURING 2015, THE SCHOOL ADVANCED THE HEAD OF SCHOOL AN ADDITIONAL $37,000 UNDER A PROMISSORY NOTE AND LOAN AGREEMENT, RELATED TO RELOCATION EXPENSE. THE LOAN AGREEMENT CALLED FOR THE ACCRUAL OF INTEREST AT 1.91% CALCULATED AT THE END OF EACH FISCAL YEAR. UNDER THE TERMS OF THE AGREEMENT, PROVIDED THE HEAD OF SCHOOL WAS CONTINUOUSLY EMPLOYED BY THE SCHOOL, THE SCHOOL FORGAVE PRINCIPAL AND ACCRUED INTEREST, AS DEFINED, EACH FISCAL YEAR-END THROUGH JUNE 30, 2018. AS OF JUNE 30, 2017, THE REMAINING BALANCE OF THE PROMISSORY NOTE WAS FORGIVEN UPON TERMINATION OF EMPLOYMENT. 0 FORM 990, PART VI, SECTION A, LINE 2 FROM TIME TO TIME, TRUSTEES ENGAGE IN BUSINESS RELATIONSHIPS OUTSIDE OF AND UNRELATED TO THEIR DUTIES AS SCHOOL TRUSTEES. THOSE RELATIONSHIPS ARE DISCLOSED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE EXTERNAL AUDITORS, A DRAFT COPY IS REVIEWED BY MANAGEMENT AND THEN REVIEWED BY THE BOARD. REVISIONS, CORRECTIONS, ETC. ARE MADE AS NECESSARY. THE REVISED COPY IS THEN DISCUSSED WITH THE FINANCE COMMITTEE. ONCE ALL ARE SATISFIED WITH THE FORM, IT IS FINALIZED AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS PROVIDED TO ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES. THESE PEOPLE ARE ASKED TO REVIEW THE POLICY AND SIGN A STATEMENT INDICATING THAT THEY UNDERSTAND THE POLICY, HAVE REPORTED ALL POTENTIAL CONFLICTS DURING THE PAST YEAR IN ACCORDANCE WITH THE POLICY AND WILL REPORT ALL POTENTIAL CONFLICTS DURING THE COMING YEAR. ALL POTENTIAL CONFLICTS ARE EVALUATED BY THE BOARD TO DETERMINE IF A CONFLICT ACTUALLY EXISTS. IN THOSE INSTANCES WHERE THE POTENTIAL TRANSACTION IS A CONFLICT THE BOARD EXAMINES THE TRANSACTION AND A VOTE IS TAKEN (WITH THOSE INVOLVED RECUSING THEMSELVES) AS TO WHETHER THE ORGANIZATION WILL ENTER INTO THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A ANNUALLY THE BOARD CONDUCTS A PERFORMANCE REVIEW AND EVALUATION OF THE HEAD OF SCHOOL. THE REVIEW ALSO ESTABLISHES THE INDIVIDUAL'S COMPENSATION FOR THE FOLLOWING YEAR. THIS PROCESS INVOLVES THE EVALUATION OF THE INDIVIDUAL AND A REVIEW OF COMPENSATION OF COMPARABLE POSITIONS OBTAINED FROM THE FORM 990 OF SIMILAR ORGANIZATIONS. THE BOARD'S DELIBERATION AND DECISION IS NOTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS (ARTICLES OF INCORPORATION AND BY-LAWS), ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE ORGANIZATION WILL MAIL COPIES UPON REQUEST OR PROVIDE COPIES TO THOSE WHO COME TO THE ADMINISTRATIVE OFFICE DURING NORMAL BUSINESS HOURS. THE ORGANIZATION CHARGES FOR THE COPIES IN ACCORDANCE WITH IRS REGULATIONS.