BRAINATION INC: Form 990, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- BRAINATION INC (EIN 74-2869255)
- Tax period
- 2014-09-01 to 2015-08-31
- Filed
- 2016-07-06
- IRS object ID
- 201601889349300340
- Schema version
- 2014v6.0
- 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
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule J
- Schedule K
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2016-07-06T13:33:54-05:00 | ReturnTs |
| Tax Period End | 2015-08-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 203992693 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RANDY WALKER & CO | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7800 IH 10 WEST | AddressLine1Txt |
| City | SAN ANTONIO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78230 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2014-09-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 742869255 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCATIONAL RESOURCE CENTER INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | EDUC | BusinessNameControlTxt |
| Phone | 2106385017 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10325 BANDERA ROAD | AddressLine1Txt |
| City | SAN ANTONIO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78250 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | OLIN TUNNELL | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 2106385017 | PhoneNum |
| Signature | 2016-05-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RANDY L WALKER CPA | PreparerPersonNm |
| PTIN | P00963779 | PTIN |
| Phone | 2103669430 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2016-09-27 15:27:22Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | OLIN TUNNELL | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10325 BANDERA ROAD | AddressLine1Txt |
| City | SAN ANTONIO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78250 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $16,579,810 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WOODCHARTER.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1999 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | THE SCHOOL SERVES AT-RISK STUDENTS WITH EXCEPTIONAL AND EXEMPLARY EDUCATIONAL RESOURCES. THE SCHOOL PROVIDES AN ENVIRONMENT IN WHICH STUDENTS ARE ENCOURAGED TO DEVELOP THEIR INTELLECTUAL, LINGUISTIC, SOCIAL, EMOTIONAL, CIVIC, AND PHYSICAL ABILITIES. THE ULTIMATE GOAL IS TO TRANSITION AND INTEGRATE THESE STUDENTS BACK INTO THEIR HOME SCHOOLS AND SOCIETY AND TO ENSURE THEY ARE CAPABLE OF FULL PARTICIPATION IN THE PROCESS OF FAMILY, EMPLOYMENT, AND COMMUNITY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 241 | TotalEmployeeCnt |
| Total Volunteers | 121 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $10,640,721 | PYContributionsGrantsAmt |
| CY Contributions Grants | $16,484,717 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,727 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,967 | CYInvestmentIncomeAmt |
| PY Other Revenue | $51,489 | PYOtherRevenueAmt |
| CY Other Revenue | $93,126 | CYOtherRevenueAmt |
| PY Total Revenue | $10,694,937 | PYTotalRevenueAmt |
| CY Total Revenue | $16,579,810 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $7,095,106 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $10,475,389 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,659,828 | PYOtherExpensesAmt |
| CY Other Expenses | $4,078,442 | CYOtherExpensesAmt |
| PY Total Expenses | $9,754,934 | PYTotalExpensesAmt |
| CY Total Expenses | $14,553,831 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $940,003 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,025,979 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $20,831,382 | TotalAssetsBOYAmt |
| Total Assets EOY | $22,252,551 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $10,955,957 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $10,402,967 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $9,875,425 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $11,849,584 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE SCHOOL OFFERS A CHALLENGING CORE CURRICULUM WITH AN ACCELERATED ACADEMIC FOCUS SERVING PRIMARILY AT-RISK AND UNDERACHIEVED STUDENTS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $12,867,796 | ExpenseAmt |
| Desc | OPERATED A PUBLIC CHARTER SCHOOL FOR KINDERGARTEN THROUGH 12TH GRADE. AT THE END OF THE FISCAL YEAR, THE CHARTER HAD 7 CAMPUSES AND SERVED APPROXIMATELY 2,100 STUDENTS. | Desc |
| Total Program Service Expenses | $12,867,796 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | Yes (1) | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 42 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 241 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TAMMY PADILLA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2106385000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10325 BANDERA ROAD | AddressLine1Txt |
| City | SAN ANTONIO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78250 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| DR G KEITH CATHEY | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| RAYMON KRESHA | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JEROME JERRY MULDOWNEY | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DEBRA HARKIEWICZ | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| OLIN TUNNELL | ||||||||
| BOARD PRESIDENT | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| JOSEPHINE ARREDONDO-HOLDEN | ||||||||
| BOARD VICE PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| CARMEN BALDERAS | ||||||||
| BOARD SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| BRUCE ROCKSTROH | ||||||||
| SUPERINTENDENT | 40.00 | $155,840 | $0 | $24,899 | Yes (X) | |||
| PATRICIA L RAMIREZ | ||||||||
| ASSISTANT SUPERINTENDENT | 40.00 | $109,946 | $0 | $4,159 | Yes (X) | |||
| JENNIFER TRINIDAD ROWER | ||||||||
| EXECUTIVE DIR. OF HUMAN RESOURCES | 40.00 | $105,168 | $0 | $1,307 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $370,954 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $30,365 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 3 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TURNER CONSTRUCTION COMPANY | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1077 CENTRAL PARKWAY SOUTH STE 600 | AddressLine1Txt |
| City | SAN ANTONIO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78232 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | CONSTRUCTION | ServicesDesc |
| Compensation | $745,694 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $16,297,078 | GovernmentGrantsAmt |
| All Other Contributions | $187,639 | AllOtherContributionsAmt |
| Noncash Contributions | $43,223 | NoncashContributionsAmt |
| Total Contributions | $16,484,717 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,967 | TotalRevenueColumnAmt |
| Exclusion | $1,967 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $71,798 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $71,798 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $71,798 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $71,798 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $21,328 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $21,328 | TotalRevenueColumnAmt |
| Exclusion | $21,328 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $16,579,810 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $71,798 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $23,295 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $180,739 | TotalAmt |
| Program Services | $177,124 | ProgramServicesAmt |
| Management And General | $3,615 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,708,654 | TotalAmt |
| Program Services | $8,534,481 | ProgramServicesAmt |
| Management And General | $174,173 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $143,624 | TotalAmt |
| Program Services | $140,752 | ProgramServicesAmt |
| Management And General | $2,872 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $803,027 | TotalAmt |
| Program Services | $786,966 | ProgramServicesAmt |
| Management And General | $16,061 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $639,345 | TotalAmt |
| Program Services | $626,558 | ProgramServicesAmt |
| Management And General | $12,787 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $388,807 | TotalAmt |
| Program Services | $272,164 | ProgramServicesAmt |
| Management And General | $116,643 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,891 | TotalAmt |
| Program Services | $17,609 | ProgramServicesAmt |
| Management And General | $45,282 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,102,268 | TotalAmt |
| Program Services | $870,790 | ProgramServicesAmt |
| Management And General | $231,478 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $516,755 | TotalAmt |
| Program Services | $470,247 | ProgramServicesAmt |
| Management And General | $46,508 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $188,990 | TotalAmt |
| Program Services | $120,954 | ProgramServicesAmt |
| Management And General | $68,036 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $501,798 | TotalAmt |
| Management And General | $501,798 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $517,678 | TotalAmt |
| Program Services | $450,597 | ProgramServicesAmt |
| Management And General | $67,081 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $126,497 | TotalAmt |
| Management And General | $126,497 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| EDUCATION SERVICE CTR | $252,906 | $189,679 | $63,227 |
| OPERATING EXPENSE | $249,419 | $69,837 | $179,582 |
| OUTSIDE SERVICES | $110,470 | $87,271 | $23,199 |
| MAINTENANCE & REPAIR | $59,963 | $52,767 | $7,196 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,553,831 | TotalAmt |
| Program Services | $12,867,796 | ProgramServicesAmt |
| Management And General | $1,686,035 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,390,018 | BOYAmt |
| EOY | $2,268,462 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $764,884 | BOYAmt |
| EOY | $51,514 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $19,018,025 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,809,906 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,399,756 | BOYAmt |
| EOY | $17,208,119 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,276,724 | BOYAmt |
| EOY | $2,724,456 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,831,382 | BOYAmt |
| EOY | $22,252,551 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,385,414 | BOYAmt |
| EOY | $749,557 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,837 | BOYAmt |
| EOY | $11,390 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,561,706 | BOYAmt |
| EOY | $9,430,491 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $211,529 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,955,957 | BOYAmt |
| EOY | $10,402,967 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,544,572 | BOYAmt |
| EOY | $3,670,289 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,330,853 | BOYAmt |
| EOY | $8,179,295 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,875,425 | BOYAmt |
| EOY | $11,849,584 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,831,382 | BOYAmt |
| EOY | $22,252,551 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,025,979 | ReconcilationRevenueExpnssAmt |
| Prior Period Adjustments | -$51,820 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $877,925 | OtherCostOrOtherBasisAmt |
| Book Value | $877,925 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $12,652,686 | OtherCostOrOtherBasisAmt |
| Depreciation | $411,614 | DepreciationAmt |
| Book Value | $12,241,072 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,066,582 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,398,292 | DepreciationAmt |
| Book Value | $668,290 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,420,832 | OtherCostOrOtherBasisAmt |
| Book Value | $3,420,832 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $17,208,119 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (5 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| DUE FROM STATE | $654,600 |
| DUE FROM FEDERAL AGENCIES | $569,887 |
| OTHER RECEIVABLES | $301,907 |
| BOND ISSUANCE COSTS, NET | $382,188 |
| RESTRICTED CASH | $815,874 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $2,724,456 | TotalBookValueOtherAssetsAmt |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | THE ORGANIZATION MAKES ITS RACIALLY NONDISCRIMINATORY POLICY KNOWN TO ALL STUDENTS THROUGH ITS REGISTRATION PROCEDURES AND THROUGH ITS WEBSITE. |
| SCHEDULE E, PART I, LINE 6 | THE ORGANIZATION IS ELIGIBLE AND RECEIVES TITLE I, PART A & D, TITLE II, PART A, AND IDEA B FUNDING. THE ORGANIZATION IS ELIGIBLE AND RECEIVES FUNDS AND FOOD INVENTORY COMMODITIES FROM THE TEXAS DEPARTMENT OF AGRICULTURE AND USDA FOR THE PARTICIPATION IN THE NATIONAL SCHOOL AND BREAKFAST PROGRAM. |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | SPECIAL EVENTS | Event1Nm |
| Gross Receipts Event1 | $21,328 | GrossReceiptsEvent1Amt |
| Gross Revenue Event1 | $21,328 | GrossRevenueEvent1Amt |
| Gross Receipts Total | $21,328 | GrossReceiptsTotalAmt |
| Gross Revenue Total Events | $21,328 | GrossRevenueTotalEventsAmt |
| Net Income Summary | $21,328 | NetIncomeSummaryAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Discretionary Spending Acct | Yes (X) | DiscretionarySpendingAcctInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BRUCE ROCKSTROH | PersonNm |
| Title | SUPERINTENDENT | TitleTxt |
| Base Compensation Filing Org | $155,840 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $10,000 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $14,899 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $180,739 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DANBURY HIGHER EDUCATION AUTHORITY INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 760663443 | BondIssuerEIN |
| CUSIP | 236035BH3 | CUSIPNum |
| Bond Issued | 2013-07-02 | BondIssuedDt |
| Issue Price | $9,945,000 | IssuePriceAmt |
| Purpose | SEE PART VI | PurposeDesc |
| Defeased | 0 | DefeasedInd |
| On Behalf Of Issuer | Yes (1) | OnBehalfOfIssuerInd |
| Pool Financing | 0 | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Total Proceeds | $9,799,443 | TotalProceedsAmt |
| In Reserve Fund | $752,736 | InReserveFundAmt |
| Capitalized Interest | $412,501 | CapitalizedInterestAmt |
| Capital Expenditures | $6,357,373 | CapitalExpendituresAmt |
| Other Spent Proceeds | $198,900 | OtherSpentProceedsAmt |
| Substantial Completion | 2015 | SubstantialCompletionYr |
| Current Refunding | 0 | CurrentRefundingInd |
| Advance Refunding | 0 | AdvanceRefundingInd |
| Final Allocation Made | 0 | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (1) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | 0 | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | 0 | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | 0 | MgmtContractBondFincdPropInd |
| Any Research Agreements | 0 | AnyResearchAgreementsInd |
| Bond Iss Meet Prvt Sec Pymt Test | 0 | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | 0 | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiledInd |
| Rebate Not Due Yet | 0 | RebateNotDueYetInd |
| Exception To Rebate | 0 | ExceptionToRebateInd |
| No Rebate Due | 0 | NoRebateDueInd |
| Variable Rate Issue | Yes (1) | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | 0 | HedgeIdentifiedInBksAndRecInd |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | 0 | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | Yes (1) | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | 0 | ProceduresCorrectiveActionInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE K, PART I AND PART II | THE TOTAL PROCEEDS LISTED ON PART II, LINE 3 DIFFER FROM THE AMOUNT REPORTED ON PART I, COLUMN (E): PAR AMOUNT OF BONDS OF $9,945,000, PLUS ACCRUED INTEREST OF $53,342.60 LESS $198,900.00 IN PARTIAL PAYMENT OF UNDERWRITER'S DISCOUNT. |
| SCHEDULE K, PART I, LINE A, COLUMN (F) | DESCRIPTION OF PURPOSE: PROPERTY ACQUISITION AND CONSTRUCTION AT THE INSPIRE ACADEMIES CAMPUS. |
Schedule M IRS990ScheduleM
Food Inventory FoodInventoryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1158 | ContributionCnt |
| Noncash Contributions Rpt F990 | $43,223 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART IV, LINE 24A | ERC, INC. AND ITS AFFILIATE'S OBLIGATIONS UNDER BONDS PAYABLE CONSIST OF EDUCATION REVENUE BONDS (SERIES 2013A) ISSUED THROUGH DANBURY HIGHER EDUCATION AUTHORITY, INC. AND DATED JUNE 1, 2013. ALL BONDS WERE CLOSED AND FUNDED ON JULY 2, 2013, WITH PROCEEDS BEING HELD BY THE U.S. BANK NATIONAL ASSOCIATION. THE BONDS' PROCEEDS WILL BE USED FOR PROPERTY ACQUISITION AND CONSTRUCTION AT THE INSPIRE ACADEMIES CAMPUS AND WERE UNDERWRITTEN BY OPPENHEIMER & CO., INC. THE INTEREST RATES ON THE BONDS RANGE FROM 5.25% TO 6.50%, AND THE TERMS OF THE BONDS RANGE FROM TEN TO THIRTY YEARS. AS OF AUGUST 31, 2015, THE OUTSTANDING BALANCE ON BONDS PAYABLE WAS $9,675,000, CONSISTING OF BONDS PAYABLE - CURRENT PORTION OF $145,000 AND BONDS PAYABLE - LONG-TERM OF $9,285,491 (NET OF A DISCOUNT OF $263,543 AND RELATED ACCUMULATED AMORTIZATION OF $19,034). AS OF AUGUST 31, 2014, THE OUTSTANDING BALANCE ON BONDS PAYABLE WAS $9,815,000, CONSISTING OF BONDS PAYABLE - CURRENT PORTION OF $140,000 AND BONDS PAYABLE - LONG-TERM OF $9,421,706 (NET OF A DISCOUNT OF $263,543 AND RELATED ACCUMULATED AMORTIZATION OF $10,249). THE ORIGINAL AMOUNT OF THE DISCOUNT AT DATE OF ISSUANCE WAS $263,543, OF WHICH APPROXIMATELY $64,642 WAS PAID AT DATE OF ISSUANCE. AMORTIZATION EXPENSE RELATED TO THIS DISCOUNT FOR THE YEARS ENDED AUGUST 31, 2015 AND 2014 WAS $8,785. ISSUANCE COSTS PAID FOR THESE BONDS AT DATE OF ISSUANCE TOTALED $411,93 9. AMORTIZATION EXPENSE RELATED TO THESE COSTS FOR THE YEARS ENDED AUGUST 31, 2015 AND 2014 WAS $13,731. SECTION 5.9 OF THE SERIES 2013A BOND COVENANTS ESTABLISHES A DEBT SERVICE COVERAGE RATIO, WHICH STIPULATES THAT AVAILABLE REVENUES (I.E., THE AMOUNT OF EXCESS (DEFICIT) OF ADJUSTED REVENUES OVER EXPENSES) FOR EACH FISCAL YEAR MUST BE EQUAL TO AT LEAST 1.10 TIMES THE ANNUAL DEBT SERVICE REQUIREMENTS OF ERC, INC. AS OF THE END OF THE FIRST FISCAL YEAR AFTER THE DATE OF ISSUANCE OF THE BONDS AND ANNUALLY THEREAFTER UNTIL THE BONDS HAVE BEEN PAID IN FULL. EXPENSES INCLUDE ALL OPERATING AND NON-OPERATING EXPENSES OR LOSSES INCURRED DURING THE FISCAL YEAR OTHER THAN (A) INTEREST EXPENSE, (B) DEPRECIATION AND AMORTIZATION, ( C) EXTRAORDINARY LOSSES AND ( D) CAPITAL EXPENDITURES. AS OF AUGUST 31, 2015 AND 2014, ERC, INC. WAS IN COMPLIANCE WITH THIS COVENANT AND ALL OTHER APPLICABLE COVENANTS CONTAINED IN THE LOAN AGREEMENT. INTEREST EXPENSE ON BONDS PAYABLE WAS $501,798 AND $81,526 FOR THE YEARS ENDED AUGUST 31, 2015 AND 2014, RESPECTIVELY. CAPITALIZED INTEREST WAS $110,227 AND $537,368 FOR THE YEARS ENDED AUGUST 31, 2015 AND 2014, RESPECTIVELY. |
| FORM 990, PART VI, SECTION B, LINE 11 | THE BOARD OF DIRECTORS ANNUALLY REVIEWS THE 990 TAX RETURN AT A BOARD MEETING. IN ADDITION, THE BOARD CERTIFIES THE AUDITED FINANCIAL STATEMENTS THAT ARE USED IN THE PREPARATION OF THE 990 TAX RETURN. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION FOLLOWS THE NECESSARY TEXAS EDUCATION AGENCY REQUIREMENTS OF INDEPENDENCE. ALL TRANSACTIONS ARE MONITORED FOR POSSIBLE CONFLICTS OF INTEREST. THE ORGANIZATION ENFORCES POLICIES THAT ARE IN COMPLIANCE WITH THE REQUIREMENTS OF THE TEXAS EDUCATION AGENCY. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS OF THE ORGANIZATION REVIEWS AND SURVEYS COMPARABLE DATA IN DETERMINING COMPENSATION. THE BOARD OF DIRECTORS APPROVE THE COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. |
| FORM 990, PART XII, LINE 2C | THE ORGANIZATION'S PROCESS FOR ASSUMING RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT, REVIEW, OR COMPILATION OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT AUDITOR HAVE NOT CHANGED FROM THE PRIOR YEAR. |
| FORM 990, PART XI, LINE 8 | NOTE 12 - PRIOR PERIOD RESTATEMENT DURING THE YEAR AUGUST 31, 2015, MANAGEMENT RECEIVED A SPECIAL ACCREDITATION INVESTIGATION REPORT FROM TEA, IN WHICH ONE OF THE OUTLINED FINDINGS RELATED TO THE RECORDING OF THE ADMINISTRATION BUILDING PURCHASED IN 2011 FOR $1,060,390. THE CHARTER DISTRICT PAID $665,036 TOWARDS THE PURCHASE OF THE BUILDING, WITH THE REMAINING PORTION PAID BY THE FOUNDATION. THE TOTAL AMOUNT OF THE BUILDING WAS RECORDED ON THE FOUNDATION'S BOOKS AND WAS CLASSIFIED AS LOCAL FUNDS ON THE SCHEDULE OF CAPITAL ASSETS IN THE SPECIFIC PURPOSE FINANCIAL STATEMENTS. THE TEA CONCLUDED THAT THE CHARTER DISTRICT RECORDS MUST REFLECT THE APPROPRIATE BREAKDOWN BETWEEN STATE AND LOCAL INTERESTS; THEREFORE, THE PURCHASE SHOULD HAVE REFLECTED THE PORTION OF FUNDS PAID BY THE CHARTER DISTRICT FOR THE BUILDING AND CLASSIFIED AS STATE FUNDS ON THE SCHEDULE OF CAPITAL ASSETS IN THE SPECIFIC PURPOSE FINANCIAL STATEMENTS. IN RESPONSE TO THIS REQUIRED ACTION, MANAGEMENT DECIDED TO USE LOCAL FUNDS TO PURCHASE BACK THE PORTION OF THE BUILDING FUNDED BY THE CHARTER DISTRICT. THEREFORE, AS OF AUGUST 31, 2014, $665,036 OF THE TOTAL BUILDING AMOUNT WAS TRANSFERRED FROM THE FOUNDATION'S BOOKS TO ERC, INC.'S BOOKS, WITH A CORRESPONDING PAYABLE TO THE CHARTER DISTRICT RECORDED ON ERC, INC.'S BOOKS. CONVERSELY, A RECEIVABLE FROM ERC, INC. FOR THIS AMOUNT WAS RECORDED ON THE CHARTER DISTRICT'S BOOKS. THESE TRANSACTIONS HAD NO EFFECT ON NET ASSETS AT AUGUST 31, 2014. HOWEVER, TO PROPERLY RESTATE NET ASSETS BY ENTITY, THE PORTION OF DEPRECIATION EXPENSE AND ACCUMULATED DEPRECIATION ($51,819) RELATED TO THE TRANSFER OF THE BUILDING WAS ALSO TRANSFERRED FROM THE FOUNDATION'S BOOKS TO ERC, INC.'S BOOKS, RESULTING IN A DECREASE OF $51,819 IN THE NET ASSETS OF ERC, INC. AND A CORRESPONDING INCREASE IN THE NET ASSETS OF THE FOUNDATION AT AUGUST 31, 2014. THE RELATED PARTY PAYABLE AND RECEIVABLE AS OF AUGUST 31, 2015 AND 2014 RELATED TO THIS TRANSACTION WAS $-0- AND $665,036, RESPECTIVELY, DUE TO ERC, INC. USING LOCAL FUNDS TO PURCHASE THE BUILDING FROM THE CHARTER DISTRICT. |
| SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION | EDUCATIONAL RESOURCE CENTER INC 10325 BANDERA ROAD SAN ANTONIO, TX 78250 EMPLOYER IDENTIFICATION NUMBER: 74-2869255 FOR THE YEAR ENDING AUGUST 31, 2015 EDUCATIONAL RESOURCE CENTER INC IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC. 1.263(A)-1(F). |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCATIONAL RESOURCE CENTER FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10325 BANDERA ROAD | AddressLine1Txt |
| City | SAN ANTONIO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78250 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 451144651 | EIN |
| Primary Activities | SUPPORTING EDUCATIONAL RESOURCE CENTER, INC. | PrimaryActivitiesTxt |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 11B, II | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCATIONAL RESOURCE CENTER INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | Yes (1) | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCATIONAL RESOURCE CENTER FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | K | TransactionTypeTxt |
| Involved | $44,002 | InvolvedAmt |
| Method Of Amount Determination | AMOUNT FROM AUDITED FINANCIALS | MethodOfAmountDeterminationTxt |
Comments