FOUNDERS EDUCATION LEGACY INC: Form 990, tax year 2015

View the entire original 990 at ProPublica ↗

Organization
FOUNDERS EDUCATION LEGACY INC (EIN 46-0693350)
Tax period
2015-07-01 to 2016-06-30
Filed
2017-03-02
IRS object ID
201710619349300846
Schema version
2015v3.0
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 ReturnHeader

FieldValueIRS element (for citing)
Return2017-03-02T16:32:23-08:00ReturnTs
Tax Period End2016-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN952242818PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1VICENTI LLOYD & STUTZMANBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12210 E ROUTE 66 STE 100AddressLine1Txt
CityGLENDORACityNm
State AbbreviationCAStateAbbreviationCd
ZIP917404676ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2015-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN460693350EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1FOUNDERS EDUCATION LEGACY INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlFOUNBusinessNameControlTxt
Phone7022281175PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line15898 JASPER RIDGE STAddressLine1Txt
CityLAS VEGASCityNm
State AbbreviationNVStateAbbreviationCd
ZIP89130ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRICHARD MORENOPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone7022281175PhoneNum
Signature2017-02-11SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDERRICK DEBRUYNE CPAPreparerPersonNm
PTINP00591016PTIN
Phone6268577300PhoneNum
Preparation2017-02-24PreparationDt
FieldValueIRS element (for citing)
Tax2015TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerRICHARD MORENOPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line15898 JASPER RIDGE STAddressLine1Txt
CityLAS VEGASCityNm
State AbbreviationNVStateAbbreviationCd
ZIP89130ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$259,630GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2012FormationYr
Legal Domicile StateNVLegalDomicileStateCd
Activity Or MissionTO PROVIDE FINANCIAL SUPPORT TO FOUNDERS ACADEMY LAS VEGAS.ActivityOrMissionDesc
Voting Members Governing Body3VotingMembersGoverningBodyCnt
Voting Members Independent3VotingMembersIndependentCnt
Total Employee7TotalEmployeeCnt
Total Volunteers3TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$500PYContributionsGrantsAmt
CY Contributions Grants$49,241CYContributionsGrantsAmt
PY Program Service Revenue$271,924PYProgramServiceRevenueAmt
CY Program Service Revenue$210,389CYProgramServiceRevenueAmt
CY Investment Income$0CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$272,424PYTotalRevenueAmt
CY Total Revenue$259,630CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$268,026PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$249,623CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$3,898PYOtherExpensesAmt
CY Other Expenses$3,041CYOtherExpensesAmt
PY Total Expenses$271,924PYTotalExpensesAmt
CY Total Expenses$252,664CYTotalExpensesAmt
PY Revenues Less Expenses$500PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$6,966CYRevenuesLessExpensesAmt
Total Assets BOY$27,241TotalAssetsBOYAmt
Total Assets EOY$157,668TotalAssetsEOYAmt
Total Liabilities BOY$26,741TotalLiabilitiesBOYAmt
Total Liabilities EOY$150,202TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$500NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$7,466NetAssetsOrFundBalancesEOYAmt
MissionTO PROVIDE FINANCIAL SUPPORT TO FOUNDERS ACADEMY LAS VEGAS.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$249,623ExpenseAmt
Revenue$210,389RevenueAmt
DescTO PROVIDE FINANCIAL SUPPORT TO FOUNDERS ACADEMY LAS VEGAS.Desc
Total Program Service Expenses$249,623TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Temp Or Permanent EndowmentsfalseTempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (true)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (true)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntfalseBusinessRlnWithOfficerEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld CompliancefalseBackupWthldComplianceInd
Employee7EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members3GoverningBodyVotingMembersCnt
Independent Voting Member3IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyfalseConflictOfInterestPolicyInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonCHARTER SCHOOL MANAGEMENT CORPPersonNm
Phone8889942762PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line143460 RIDGE PARK DRIVE SUITE 100AddressLine1Txt
CityTEMECULACityNm
State AbbreviationCAStateAbbreviationCd
ZIP92590ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
RICHARD MORENO
PRESIDENT1.00Yes (X)Yes (X)$0$0$0
MARK HESIAK
VICE PRESIDE1.00Yes (X)Yes (X)$0$0$0
GEORGE MEHOCIC
SECRETARY/TR1.00Yes (X)Yes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$49,241AllOtherContributionsAmt
Total Contributions$49,241TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescEDUCATIONAL SERVICESDesc
Total Revenue Column$210,389TotalRevenueColumnAmt
Related Or Exempt Func Income$210,389RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$210,389TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$259,630TotalRevenueColumnAmt
Related Or Exempt Func Income$210,389RelatedOrExemptFuncIncomeAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$230,320TotalAmt
Program Services$230,320ProgramServicesAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$4,159TotalAmt
Program Services$4,159ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$15,144TotalAmt
Program Services$15,144ProgramServicesAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$3,041TotalAmt
Management And General$3,041ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$252,664TotalAmt
Program Services$249,623ProgramServicesAmt
Management And General$3,041ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$702BOYAmt
EOY$16,668EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$26,539BOYAmt
EOY$125,000EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$16,000LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
EOY$16,000EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$27,241BOYAmt
EOY$157,668EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$26,741BOYAmt
EOY$202EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

FieldValueIRS element (for citing)
EOY$150,000EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$26,741BOYAmt
EOY$150,202EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$500BOYAmt
EOY$7,466EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$500BOYAmt
EOY$7,466EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$27,241BOYAmt
EOY$157,668EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$6,966ReconcilationRevenueExpnssAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$500CurrentTaxYearMinus1YearAmt
Current Tax Year$49,241CurrentTaxYearAmt
Total$49,741TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$500CurrentTaxYearMinus1YearAmt
Current Tax Year$49,241CurrentTaxYearAmt
Total$49,741TotalAmt
FieldValueIRS element (for citing)
Public Support Total170$49,741PublicSupportTotal170Amt
Total Support$49,741TotalSupportAmt
Gross Receipts Rltd Activities$482,313GrossReceiptsRltdActivitiesAmt
First5 Years170Yes (X)First5Years170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$16,000OtherCostOrOtherBasisAmt
Book Value$16,000BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$16,000TotalBookValueLandBuildingsAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$259,630TotalRevEtcAuditedFinclStmtAmt
Revenue Subtotal$259,630RevenueSubtotalAmt
Total Revenue Per Form990$259,630TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$252,664TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal$252,664ExpensesSubtotalAmt
Total Expenses Per Form990$252,664TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE D, PAGE 3, PART X"LEGACY IS A NON-PROFIT ENTITY EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNALREVENUE CODE SECTION 501(C)(3). ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES.MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINEDUPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS AREREQUIRED. LEGACY FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION AND THE STATUTE OF LIMITATIONSFOR FEDERAL PURPOSES IS GENERALLY THREE YEARS."
SCHEDULE D, PAGE 4, PART XIIILEGACY IS A NON-PROFIT ENTITY EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. LEGACY FILES INFORMATIONAL RETURNS IN THE U.S FEDERAL JURISDICTION AND THE STATUTE OF LIMITATIONS FOR FEDERAL PURPOSES IS GENERALLY THREE YEARS.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 11BA COPY OF THE FORM 990 IS PRESENTED TO THE BOARD FOR COMMENTS AND/OR APPROVAL PRIOR TO FILING THE FORM.
FORM 990, PAGE 6, PART VI, LINE 19THE DOCUMENTS ARE READILY AVAILABLE TO THE PUBLIC UPON REQUEST

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