VERANO LEARNING PARTNERS: Form 990, tax year 2015

View the entire original 990 at ProPublica ↗

Organization
VERANO LEARNING PARTNERS (EIN 86-1017522)
Tax period
2015-07-01 to 2016-06-30
Filed
2017-05-15
IRS object ID
201741359349310874
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)
Return2017-05-15T13:24:27-07:00ReturnTs
Tax Period End2016-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN860540978PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1JOHNSON GOFF & COMPANY PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line18777 E VIA DE VENTURA STE 245AddressLine1Txt
CitySCOTTSDALECityNm
State AbbreviationAZStateAbbreviationCd
ZIP852583345ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2015-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN861017522EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PRIMAVERA TECHNICAL LEARNING CENTERBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPRIMBusinessNameControlTxt
Phone4804566678PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12471 N ARIZONA AVEAddressLine1Txt
CityCHANDLERCityNm
State AbbreviationAZStateAbbreviationCd
ZIP85225ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDAMIAN CREAMERPersonNm
Person TitleCEOPersonTitleTxt
Phone4804566678PhoneNum
Signature2017-05-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMARIA KREY CPAPreparerPersonNm
PTINP00020362PTIN
Phone4809480060PhoneNum
Preparation2017-05-15PreparationDt
FieldValueIRS element (for citing)
Tax2015TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerDAMIAN CREAMERPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line12471 N ARIZONA AVENUEAddressLine1Txt
CityCHANDLERCityNm
State AbbreviationAZStateAbbreviationCd
ZIP85225ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$3,700,631GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.PRIMAVERATECH.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2001FormationYr
Legal Domicile StateAZLegalDomicileStateCd
Activity Or MissionTO BUILD AND MANAGE THE HIGHEST QUALITY, NATIONWIDE SCHOOLS, DELIVERING RIGOROUS EDUCATION IN A VIRTUAL LEARNING ENVIRONMENT THAT CREATES A SUSTAINABLE, POSITIVE IMPACT ON A STUDENT'S LIFE.ActivityOrMissionDesc
Voting Members Governing Body5VotingMembersGoverningBodyCnt
Voting Members Independent3VotingMembersIndependentCnt
Total Employee302TotalEmployeeCnt
Total Volunteers5TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$2,971,806PYContributionsGrantsAmt
CY Contributions Grants$55,491CYContributionsGrantsAmt
PY Program Service Revenue$29,319,264PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$1,342,044PYInvestmentIncomeAmt
CY Investment Income$3,284,048CYInvestmentIncomeAmt
PY Other Revenue$20,191PYOtherRevenueAmt
CY Other Revenue$348,129CYOtherRevenueAmt
PY Total Revenue$33,653,305PYTotalRevenueAmt
CY Total Revenue$3,687,668CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$10,585,091PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$231,632CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$21,432,286PYOtherExpensesAmt
CY Other Expenses$3,538,778CYOtherExpensesAmt
PY Total Expenses$32,017,377PYTotalExpensesAmt
CY Total Expenses$3,770,410CYTotalExpensesAmt
PY Revenues Less Expenses$1,635,928PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$82,742CYRevenuesLessExpensesAmt
Total Assets BOY$48,889,141TotalAssetsBOYAmt
Total Assets EOY$44,867,579TotalAssetsEOYAmt
Total Liabilities BOY$3,437,028TotalLiabilitiesBOYAmt
Total Liabilities EOY$325,757TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$45,452,113NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$44,541,822NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTO BUILD AND MANAGE THE HIGHEST QUALITY, NATIONWIDE SCHOOLS, DELIVERING RIGOROUS EDUCATION IN A VIRTUAL LEARNING ENVIRONMENT THAT CREATES A SUSTAINABLE, POSITIVE IMPACT ON A STUDENT'S LIFE.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangeYes (true)SignificantChangeInd
Expense$2,305,636ExpenseAmt
DescTHE ORGANIZATION CONDUCTED VARIOUS STUDIES AND DUE DILIGENCE ACTIVITIES TO ESTABLISH THE SPRINGBOARD FROM WHICH TO LAUNCH ITS VISION FOR NATIONWIDE SCHOOLS.Desc
Total Program Service Expenses$2,305,636TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
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 LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingYes (true)SchoolOperatingInd
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 RequiredYes (true)ScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingYes (true)LoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntYes (true)BusinessRlnWithOfficerEntInd
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 Document48IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee302EmployeeCnt
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 Members5GoverningBodyVotingMembersCnt
Independent Voting Member3IndependentVotingMemberCnt
Family Or Business RlnYes (true)FamilyOrBusinessRlnInd
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 BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnfalseAnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherYes (true)CompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonROSS MUSILPersonNm
Phone4804052634PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12471 N ARIZONA AVEAddressLine1Txt
CityCHANDLERCityNm
State AbbreviationAZStateAbbreviationCd
ZIP85225ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
TROY WALLIN
DIRECTOR1.00Yes (X)$0$0$0
SCOTT BARKER
DIRECTOR1.00Yes (X)$0$0$0
MICHAEL STECK
DIRECTOR1.00Yes (X)$0$0$0
MAVEONIEN CREAMER
COO40.00$158,217$0$2,743Yes (X)
DAMIAN CREAMER
CEO40.00$29,286$0$4,620Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$187,503TotalReportableCompFromOrgAmt
Total Other Compensation$7,363TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (true)TotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (2 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
CHASSE BUILDING TEAM
2400 W BROADWAY ROADMESAAZ85202CONSTRUCTION$550,111
BLANK ROME LLP
130 N 18TH STPHILADELPHIAPA19103LEGAL$157,723
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K2CntrctRcvdGreaterThan100KCnt
Government Grants$55,491GovernmentGrantsAmt
Total Contributions$55,491TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,074,048TotalRevenueColumnAmt
Exclusion$1,074,048ExclusionAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$361,092RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$12,963RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$348,129RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$348,129TotalRevenueColumnAmt
Exclusion$348,129ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Other$2,210,000OtherAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Other$2,210,000OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,210,000TotalRevenueColumnAmt
Related Or Exempt Func Income$2,210,000RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$3,687,668TotalRevenueColumnAmt
Related Or Exempt Func Income$2,210,000RelatedOrExemptFuncIncomeAmt
Exclusion$1,422,177ExclusionAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$217,528TotalAmt
Management And General$217,528ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$14,104TotalAmt
Management And General$14,104ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$306,056TotalAmt
Management And General$306,056ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$20,775TotalAmt
Management And General$20,775ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$4,938TotalAmt
Management And General$4,938ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$179,491TotalAmt
Management And General$179,491ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$46,685TotalAmt
Management And General$46,685ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$36,549TotalAmt
Management And General$36,549ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$167TotalAmt
Management And General$167ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$610,685TotalAmt
Management And General$610,685ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$10,369TotalAmt
Management And General$10,369ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
RELEASED FROM RESTRICTION$2,305,636$2,305,636
MEALS AND ENTERTAINMENT$15,486$15,486
PROFESSIONAL DEVELOPMENT$1,641$1,641
GOODYEAR PROPERTY$300$300

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$3,770,410TotalAmt
Program Services$2,305,636ProgramServicesAmt
Management And General$1,464,774ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$3,595,735BOYAmt
EOY$1,696,386EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$397,469BOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

FieldValueIRS element (for citing)
EOY$2,442,721EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
EOY$762,188EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$380,256BOYAmt
EOY$37,536EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$10,488,214LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$1,851,205LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$8,504,117BOYAmt
EOY$8,637,009EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$36,011,564BOYAmt
EOY$31,291,739EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$48,889,141BOYAmt
EOY$44,867,579EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$660,370BOYAmt
EOY$323,257EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$2,738,617BOYAmt

Loans From Officers Directors LoansFromOfficersDirectorsGrp

FieldValueIRS element (for citing)
BOY$38,041BOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
EOY$2,500EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$3,437,028BOYAmt
EOY$325,757EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$43,146,478BOYAmt
EOY$44,541,822EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$2,305,635BOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$45,452,113BOYAmt
EOY$44,541,822EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$48,889,141BOYAmt
EOY$44,867,579EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss-$82,742ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst-$920,072NetUnrlzdGainsLossesInvstAmt
Prior Period Adjustments$92,523PriorPeriodAdjustmentsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,842,655OtherCostOrOtherBasisAmt
Book Value$1,842,655BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$5,848,344OtherCostOrOtherBasisAmt
Depreciation$976,585DepreciationAmt
Book Value$4,871,759BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$2,471,431OtherCostOrOtherBasisAmt
Depreciation$718,549DepreciationAmt
Book Value$1,752,882BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$88,903OtherCostOrOtherBasisAmt
Depreciation$50,622DepreciationAmt
Book Value$38,281BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$236,881OtherCostOrOtherBasisAmt
Depreciation$105,449DepreciationAmt
Book Value$131,432BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$8,637,009TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescSECURITY DEPOSITDesc
Amt$2,500Amt
FieldValueIRS element (for citing)
Total Liability$2,500TotalLiabilityAmt

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (true)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (true)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (true)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (true)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (true)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (true)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (true)MaintainCpyOfAllSolInd
Discriminate Race Stdnts RghtsfalseDiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss PlcyfalseDiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm FcultyfalseDiscriminateRaceEmplmFcultyInd
Discriminate Race SchsfalseDiscriminateRaceSchsInd
Discriminate Race Educ PlcyfalseDiscriminateRaceEducPlcyInd
Discriminate Race Use Of FcltsfalseDiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt ProgfalseDiscriminateRaceAthltProgInd
Discriminate Race Other ActyfalseDiscriminateRaceOtherActyInd
Government Financial Aid RcvdfalseGovernmentFinancialAidRcvdInd
Government Financial Aid RvkdfalseGovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (true)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE E, LINE 3THE SCHOOL'S POLICY ON RACIAL NONDISCRIMINATION IS DESCRIBED IN ITS STUDENT HANDBOOK, WHICH IS AVAILABLE ONLINE TO THE GENERAL PUBLIC AS WELL AS TO ALL CURRENT AND PROSPECTIVE STUDENTS.
SCHEDULE E, LINE 6THE ORGANIZATION DID NOT SOLICIT OR ENGAGE STUDENTS DURING THE REPORTING YEAR BECAUSE IT WAS IN TRANSITION AND WORKING TOWARD BUILDING AND MANAGING A NETWORK OF SCHOOLS, INCLUDING PURSUING THE ACQUISITION OF EXISTING SCHOOLS IN MULTIPLE STATES. THE NETWORK OF SCHOOLS SHALL BE OPERATED IN A NONDISCRIMINATORY MANNER. THERE WILL BE A RACIAL NONDISCRIMINATION POLICY THAT WILL BE PUBLISHED IN STUDENT HANDBOOKS, ONLINE AND OTHER MATERIALS PROVIDED TO CURRENT AND PROSPECTIVE STUDENTS.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Severance PaymentfalseSeverancePaymentInd
Supplemental Nonqual Rtr PlanfalseSupplementalNonqualRtrPlanInd
Equity Based Comp ArrngmfalseEquityBasedCompArrngmInd
Comp Based On Revenue Of Flng OrgfalseCompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related OrgsfalseCompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng OrgfalseCompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd OrgsfalseCompBsdNetEarnsRltdOrgsInd
Any Non Fixed PaymentsfalseAnyNonFixedPaymentsInd
Initial Contract ExceptionfalseInitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonMAVEONIEN CREAMERPersonNm
TitleCOOTitleTxt
Base Compensation Filing Org$158,217BaseCompensationFilingOrgAmt
Nontaxable Benefits Filing Org$2,743NontaxableBenefitsFilingOrgAmt
Total Compensation Filing Org$160,960TotalCompensationFilingOrgAmt

Schedule L IRS990ScheduleL

Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (2 entries)

Relationship With OrgRelationshipWithOrgTxtLoan PurposeLoanPurposeTxtLoan From OrganizationLoanFromOrganizationIndOriginal PrincipalOriginalPrincipalAmtBalance DueBalanceDueAmtDefaultDefaultIndBoard Or Committee ApprovalBoardOrCommitteeApprovalIndWritten AgreementWrittenAgreementInd
FLIPSWITCH
SAME MANAGEMENTSALE OF TRADEMARKS/TRADENAMESYes (X)$2,210,000$2,210,000falseYes (true)Yes (true)
AMERICAN VIRTUAL ACADEMY INC
SAME MANAGEMENTREIMBURSEMENT FOR EXPENSESYes (X)$824,746$232,721falseYes (true)false
FieldValueIRS element (for citing)
Total Balance Due$2,442,721TotalBalanceDueAmt

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)

Relationship DescriptionRelationshipDescriptionTxtTransactionTransactionAmtTransactionTransactionDescSharing Of RevenuesSharingOfRevenuesInd
FLIPSWITCH
SAME MANAGEMENT$2,210,000SEE PART Vfalse
AMERICAN VIRTUAL ACADEMY
SAME MANAGEMENT$249,050SEE PART Vfalse
AMERICAN VIRTUAL ACADEMY
SAME MANAGEMENT$272,303SEE PART Vfalse

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE L, PART VFormAndLineReferenceDesc
ExplanationFLIPSWITCH ACQUIRED THE TRADENAME "PRIMAVERA" IN EXCHANGE FOR 2,210,000. THE PURCHASE PRICE WAS DETERMINED TO BE FAIR MARKET VALUE OF THE NAME AND ASSOCIATED GOODWILL AS OF THE DATE OF TRANSFER, BASED UPON AN INDEPENDENT THIRD-PARTY VALUATION. AMERICAN VIRTUAL ACADEMY (AVA) ACQUIRED THE CHARTER (EXPIRING JUNE 2016) AND ASSETS OF THE ORGANIZATION IN EXCHANGE FOR 249,050 PLUS ASSUMPTION OF THE OPERATIONS OF THE ARIZONA CHARTER SCHOOL, INCLUDING ASSUMPTION OF ALL LIABILITIES ASSOCIATED WITH THE OPERATIONS, EMPLOYEE OBLIGATIONS AND RISKS OF OPERATING THE SCHOOL, INCLUDING DECREASING STATE FUNDING. ONE OBLIGATION ASSUMED WAS PAYMENT DUE TO THE STATE FOR OVERPAYMENT OF EQUALIZATION FUNDS, WHICH WOULD BE RECOVERED BY THE STATE THROUGH REDUCTION OF FUTURE EQUALIZATION PAYMENTS THAT AVA WOULD HAVE OTHERWISE RECEIVED UNDER THE CHARTER. THE ORGANIZATION TRANSFERRED 2,723,994 TO OFFSET THIS LIABILITY. ANOTHER OBLIGATION ASSUMED WAS USE OF 2,305,636 IN PROPOSITION 301 FUNDS FOR TEACHER PERFORMANCE, WHICH AMOUNT WAS COLLECTED BY THE ORGANIZATION AND TRANSFERRED TO AVA FOR PAYMENT UNDER THE CHARTER. AMERICAN VIRTUAL ACADEMY LEASES TWO BUILDINGS FROM PRIMAVERA TECHNICAL LEARNING CENTER AT MARKET RATES.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PAGE 2, PART III, LINE 3THE ORGANIZATION DISCONTINUED ITS ARIZONA CHARTER OPERATIONS DURING THE FISCAL YEAR AND HAS UNDERTAKEN CREATION OF A NETWORK OF NATIONWIDE SCHOOLS THAT WILL DELIVER HIGH SCHOOL, TRADE SCHOOL AND ALTERNATIVE EDUCATION IN A VIRTUAL LEARNING ENVIRONMENT.
FORM 990, PAGE 6, PART VI, LINE 2DAMIAN CREAMER MAVEONIEN CREAMER CEO COO SIBLINGS
FORM 990, PAGE 6, PART VI, LINE 11BA MEMBER OF MANAGEMENT, AN OUTSIDE ACCOUNTING FIRM UNRELATED TO THE FIRM PREPARING THE FORM 990, AND A MEMBER OF THE BOARD OF DIRECTORS REVIEW THE RETURN FOR ACCURACY.
FORM 990, PAGE 6, PART VI, LINE 12CTHE SCHOOL'S FINANCE DEPARTMENT CONSISTENTLY MONITORS COMPLIANCE WITH THE POLICY.
FORM 990, PAGE 6, PART VI, LINE 15ATHE SCHOOL'S CONTRACTED ACCOUNTANT DETERMINED THE MARKET RATE FOR THE CEO BASED ON COMPARABLE DATA WITH OTHER ORGANIZATIONS OF SIMILAR SIZE.
FORM 990, PAGE 6, PART VI, LINE 15BTHE SCHOOL'S CONTRACTED ACCOUNTANT DETERMINED THE MARKET RATE FOR THE CEO AND OTHER KEY EMPLOYEES BASED ON COMPARABLE DATA WITH OTHER ORGANIZATIONS OF SIMILAR SIZE.
FORM 990, PAGE 6, PART VI, LINE 19GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC FROM THE SECRETARY AT THE SCHOOL'S MAIN OFFICE UPON REQUEST.
FORM 990, PART XI, LINE 9PRIOR PERIOD ADJUSTMENT FOR ACCRUAL OF 401(K) MATCH THAT WAS NOT MADE IN THE PROCESS OF TRANSFERRING THE CHARTER AND EMPLOYEES.

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