2017-01-26T08:00:09-06:00 2016-06-30 410746749 CLIFTONLARSONALLEN LLP 4099 TAMIAMI TRAIL N STE 300 NAPLES FL 34103 990 2015-07-01 591039978 FUN TIME EARLY CHILDHOOD ACADEMY INC FUNT 2392618284 102 12TH ST N NAPLES FL 34102 RUSTY TROTH CHAIR 2392618284 2017-01-26 1 AMELIA COOPER CPA P00437898 2392628686 2017-01-26 2015 2021-01-29 14:40:06Z RUSTY TROTH 102 12TH ST N NAPLES FL 34102 1776845 0 X WWW.FUNTIMEACADEMY.ORG X 1962 FL TO PROVIDE EDUCATION & CARE FOR THE CHILDREN OF LOW-INCOME WORKING FAMILIES. 16 16 36 104 0 0 1444923 1108926 185788 485854 757 25927 -36525 -24744 1594943 1595963 0 0 0 0 923776 936222 0 0 70107 407679 497338 1331455 1433560 263488 162403 4461150 4582935 43246 84511 4417904 4498424 X PLEASE REFER TO SCHEDULE O FOR A MORE DETAILED DESCRIPTION OF OUR MISSION. 0 0 1262870 485854 FUN TIME PROVIDES A HIGH-QUALITY EARLY CHILDHOOD LEARNING ENVIRONMENT. THE CHILDREN ARE TAUGHT BY TEACHERS WITH EARLY CHILDHOOD EDUCATION DEGREES AND CREDENTIALS. VOLUNTARY PRE-KINDERGARTEN IS OFFERED TO ALL CHILDREN AT FUN TIME THE YEAR PRIOR TO THEM ENTERING KINDERGARTEN, AND HEAD START IS AVAILABLE TO INCOME-ELIGIBLE FAMILIES.FUN TIME EDUCATES 84 CHILDREN FROM AGE TWO TO PRE-KINDERGARTEN. FULL BREAKFAST, LUNCH AND SNACK ARE SERVED FREE OF CHARGE TO ALL CHILDREN. FUN TIME IS OPEN FIVE DAYS A WEEK FROM 6:30 A.M. TO 5:30 P.M. TO ACCOMMODATE WORKING FAMILIES YEAR ROUND. 1262870 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 6 0 36 1 0 0 0 0 0 1 1 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 FL X HELEN CRUZ FINANCE MANAGER 2392618284 102 12TH STREET N NAPLES FL 34102 RUSTY TROTH CHAIR 12.00 X X 0 0 0 ANN OLSON TREASURER 5.00 X X 0 0 0 JINNY JOHNSON SECRETARY 5.00 X X 0 0 0 GARY ROOT BOARD MEMBER, ASSISTANT TREASURER 4.00 X 0 0 0 CONNIE MESSNER BOARD MEMEBER, PAST CHAIR 8.00 X 0 0 0 MAUREEN DENMAN BOARD MEMBER 6.00 X 0 0 0 JENNIFER AURAY BOARD MEMBER 1.00 X 0 0 0 KIM DILLION BOARD MEMBER 2.00 X 0 0 0 JIM FREY BOARD MEMBER 1.00 X 0 0 0 BOB POLIZZOTTO BOARD MEMBER 3.00 X 0 0 0 CRAIG JILK BOARD MEMBER 4.00 X 0 0 0 JANET GABLE BOARD MEMBER 5.00 X 0 0 0 RON CIESLA BOARD MEMBER 1.00 X 0 0 0 LYNN NOLAN BOARD MEMBER 4.00 X 0 0 0 HEIDI VARSAMES BOARD MEMBER 3.00 X 0 0 0 MARSHA MURPHY BOARD MEMBER 5.00 X 0 0 0 VAL TROTMAN BOARD MEMBER 6.00 X 0 0 0 CHRISTINE KRUMAN BOARD MEMBER 1.00 X 0 0 0 ROBIN LARKIN BOARD MEMBER 1.00 X 0 0 0 BARBARA TYRRELL EXECUTIVE DIRECTOR 40.00 X 61346 0 4147 61346 0 4147 0 0 0 0 0 X 340140 87873 680913 99357 1108926 TUITION ASSISTANCE 624410 252303 252303 CHILD CARE FEES 624410 233551 233551 485854 39491 39491 13564 -13564 -13564 -13564 138374 340140 167318 -28944 -28944 T-SHIRT SALES 900099 4200 4200 4200 1595963 485854 0 1183 122356 110121 8565 3670 669648 602683 46875 20090 88408 79566 6189 2653 55810 50229 3907 1674 29803 28313 1490 14125 14125 64311 58284 4340 1687 10816 10816 29448 28250 1198 13038 12386 652 74944 71197 3747 2078 1662 416 98255 93342 4913 25260 21471 3789 PROGRAM SUPPLIES 98804 98804 FUNDRAISING EXPENSES 29475 29475 LICENSES AND PERMITS 1705 1620 85 DUES AND SUBSCRIPTIONS 235 223 12 5041 4719 280 42 1433560 1262870 100583 70107 79778 118446 425405 300509 29859 23161 446 1811 20508 23528 2491288 732575 1842044 1758713 2063110 2356767 4461150 4582935 43246 84511 43246 84511 X 3934367 4020119 483537 478305 4417904 4498424 4461150 4582935 162403 -81883 0 X 0 1 X 1 0 X 1088531 1248904 1307010 1444923 1108926 6198294 1088531 1248904 1307010 1444923 1108926 6198294 222126 5976168 1830 2546 833 757 39491 45457 134943 137442 121228 135101 142574 671288 6915039 1294453 0.86420 0.96050 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING INCOME - 2011 AMOUNT: $ 130,875. 2012 AMOUNT: $ 134,954. 2013 AMOUNT: $ 117,644. 2014 AMOUNT: $ 131,031. 2015 AMOUNT: $ 138,374. T-SHIRT SALES - 2011 AMOUNT: $ 4,068. 2012 AMOUNT: $ 2,488. 2013 AMOUNT: $ 3,584. 2014 AMOUNT: $ 4,070. 2015 AMOUNT: $ 4,200. PART II ADJUSTMENTS FOR 2015 THE DECREASE IN GIFTS, GRANTS, AND CONTRIBUTIONS REPORTED IN PART II, LINE 1 FOR 2015 IS DUE TO A RECLASSIFICATION OF CERTAIN GOVERNMENT PAYMENTS AS TUITION INCOME. THIS AMOUNT IS NOW INCLUDED IN PART II, LINE 12 WITH OTHER SIMILAR TUTION PAYMENTS RECEIVED OVER THE PAST 5 YEARS. THE DECREASE IN THE PUBLIC SUPPORT PERCENTAGE FOR 2015 REPORTED IN PART II, LINE 14 IS DUE TO THE DECREASE IN REVENUE REPORTED IN PART II, LINE 1 AS MENTIONED ABOVE, AS WELL AS AN INCREASE IN INVESTMENT INCOME REPORTED IN PART II, LINE 8 FOR 2015. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1579573 370000 -56986 14125 1878462 1258429 295751 25393 1579573 878055 268000 117468 -5094 1258429 601616 250000 46439 -20000 878055 426314 190000 -14698 601616 1.00000 1 0 2039159 401482 1637677 452129 331093 121036 1758713 CAPITAL LAND LEASE 478305 BENEFICIAL INTERESTS IN ASSETS HELD BY OTHERS 1878462 2356767 X 1499955 -81883 -81883 1581838 14125 14125 1595963 1419435 0 1419435 14125 14125 1433560 PART V, LINE 4: EACH YEAR FUN TIME EARLY CHILDHOOD ACADEMY HAS TO RAISE APPROXIMATELY HALF OF ITS BUDGETED OPERATING EXPENSES FROM DONORS. THE 50 MORE YEARS FUND HAS BEEN ESTABLISHED SO THAT FUN TIME WILL HAVE AN ENDOWMENT FUND THAT WILL ULTIMATELY PROVIDE INCOME TO MEET A PORTION OF THE OPERATING EXPENSES OF THE ACADEMY. AS THE 50 MORE YEARS FUND GROWS THE FINANCIAL POSITION OF FUN TIME WILL BE SECURED. THE BUILDING CAPITAL RESERVE FUND WILL BE USED TO PURCHASE ANY ADDITIONAL ASSETS NEEDED BY THE ACADEMY AND TO REPLACE THE EXISTING ASSETS WHEN REQUIRED. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THE ACADEMY TO BE EXEMPT FROM INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3) AND THE ACADEMY IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THESE FINANCIAL STATEMENTS. THE ACADEMY FOLLOWS THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THIS GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON THE ACADEMY'S FINANCIAL STATEMENTS. SURF'S UP 478514 340140 138374 97324 48854 21140 478514 340140 138374 97324 48854 21140 167318 -28944 X 142 8253 SALES PRICE X AUCTION ITEMS AND VACATION PACKAGES 95 91104 DONOR DETERMINATION 0 0 1 PART I, LINE 32B: THE ACADEMY USES A THIRD PARTY BROKERAGE COMPANY TO RECEIVE GIFTS OF PUBLICLY TRADED SECURITIES. THE COMPANY IMMEDIATELY LIQUIDATES THE STOCK UPON RECEIPT. TWO CONSIGNMENT AUCTION ITEMS TOTALLING $6,220 WERE PURCHASED FROM WINSPIRE, INC. FORM 990, PART III, LINE 1 THE MISSION OF FUN TIME EARLY CHILDHOOD ACADEMY IS TO PROVIDE SAFE, QUALITY, AFFORDABLE EDUCATION AND CARE FOR CHILDREN OF LOW-INCOME WORKING FAMILIES AND TO PREPARE THE CHILDREN FOR KINDERGARTEN, READY TO READ AND READY TO LEARN! FUN TIME IS NATIONALLY ACCREDITED AND HAS BEEN AWARDED THE GOLD SEAL OF EXCELLENCE FROM THE FLORIDA DEPARTMENT OF CHILDREN AND FAMILIES. FUN TIME IS CERTIFIED AS A VOLUNTARY PRE-KINDERGARTEN PROVIDER AS WELL AS BEING A NATIONAL HEAD START PROVIDER. FUN TIME HAS SATISFIED THE REQUIREMENTS OF THE EARLY LEARNING COALITION OF SOUTHWEST FLORIDA AND IS AN APPROVED SCHOOL READINESS PROVIDER. FUN TIME HAS OBTAINED PROVEN RESULTS ON THE KINDERGARTEN READINESS TEST WHICH SHOWS THAT FUN TIME IS ACHIEVING ITS MISSION! FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE CONSISTS OF DESIGNATED BOARD MEMBERS. THE EXECUTIVE COMMITTEE SHALL BE RESPONSIBLE FOR THE CONDUCT OF ALL CORPORATE BUSINESS IN ACCORDANCE WITH THE POLICIES FORMULATED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 THE DRAFT OF FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE TO ENSURE THAT IT AGREES TO THE ANNUAL FINANCIAL STATEMENTS. ANY QUESTIONS THAT ARE RAISED ARE RESOLVED. THE FORM 990 IS SENT TO THE BOARD FOR THEIR REVIEW PRIOR TO THE BOARD MEETING WHERE THE ACCEPTANCE OF THE FORM 990 WILL BE VOTED ON. PRIOR TO VOTING TO ACCEPT THE FORM 990, A PRESENTATION IS MADE TO THE BOARD WHERE THE FORM 990 IS EXPLAINED TO THE BOARD AND ANY QUESTIONS ARE ANSWERED. THE BOARD APPROVES THE 990 BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST IS AN INTERESTED PERSON. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD OR EXECUTIVE COMMITTEE. ANY DIRECTOR MAY RECUSE HIMSELF OR HERSELF AT ANY TIME FROM INVOLVEMENT IN ANY DECISION OR DISCUSSION IN WHICH THE DIRECTOR BELIEVES HE OR SHE HAS OR MAY HAVE A CONFLICT OF INTEREST, WITHOUT GOING THROUGH THE PROCESS FOR DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR EXECUTIVE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR EXECUTIVE COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR EXECUTIVE COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE BOARD OR EXECUTIVE COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER FUN TIME EARLY CHILDHOOD ACADEMY CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR EXECUTIVE COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN FUN TIME EARLY CHILDHOOD ACADEMY'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. THE MINUTES OF THE BOARD AND ALL COMMITTEES WITH BOARD DELEGATED POWERS SHALL CONTAIN THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A FINANCIAL INTEREST IN CONNECTION WITH AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THE FINANCIAL INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE BOARD'S OR EXECUTIVE COMMITTEE'S DECISION AS TO WHETHER A CONFLICT OF INTEREST IN FACT EXISTED, AND THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION WITH THE PROCEEDINGS. FORM 990, PART VI, SECTION B, LINE 15A AANNUAL REVIEW AND BENCHMARKING TO COMPARABLE ORGANIZATIONS ARE PERFORMED. THE EXECUTIVE DIRECTOR SETS GOALS THAT ARE TO BE ACHIEVED DURING THE YEAR AND THE GOALS ARE APPROVED BY THE ADMINISTRATIVE COMMITTEE CHAIRED BY THE CHAIR OF THE BOARD OF DIRECTORS. THE ADMINISTRATIVE COMMITTEE REVIEWS THE PERFORMANCE AGAINST THE GOALS AND ANY INCREASE IS APPROVED BY THE ADMINISTRATIVE COMMITTEE. THE REVIEW WAS LAST PERFORMED IN 2016. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST IN EITHER ELECTRONIC OR PAPER FORM. FORM 990, PART VIII, LINE 1E THE DECREASE IN GOVERNMENT GRANTS IN PART VIII, LINE 1E IS DUE TO A RECLASSIFICATION OF CERTAIN GOVERNMENT PAYMENTS AS TUITION INCOME. THIS AMOUNT IS NOW INCLUDED IN PART VIII, LINE 2 WITH OTHER SIMILAR TUITION PAYMENTS.