BETA

THE CORNERSTONE CHRISTIAN ACADEMY: Form 990, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
THE CORNERSTONE CHRISTIAN ACADEMY (EIN 23-2499985)
Tax period
2014-07-01 to 2015-06-30
Filed
2016-05-16
IRS object ID
201621379349301402
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 ReturnHeader

FieldValueIRS element (for citing)
Return2016-05-16T08:14:20-05:00ReturnTs
Tax Period End2015-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN231909723PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1MCKONLY & ASBURY LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1415 FALLOWFIELD ROADAddressLine1Txt
CityCAMP HILLCityNm
State AbbreviationPAStateAbbreviationCd
ZIP17011ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2014-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN232499985EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CORNERSTONE CHRISTIAN ACADEMYBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlCORNBusinessNameControlTxt
Phone6105394136PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11939 S 58TH STREETAddressLine1Txt
CityPHILADELPHIACityNm
State AbbreviationPAStateAbbreviationCd
ZIP19143ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDENNY HORNERPersonNm
Person TitleTREASURERPersonTitleTxt
Phone6105394136PhoneNum
Signature2016-05-14SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonGARY J DUBASPreparerPersonNm
PTINP00252339PTIN
Phone7177617910PhoneNum
Self EmployedYes (X)SelfEmployedInd
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-08-17 19:52:53ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerDENNY HORNERPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1186 S MIDLAND AVEAddressLine1Txt
CityAUDUBONCityNm
State AbbreviationPAStateAbbreviationCd
ZIP19403ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$2,620,074GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.CORNERSTONEPHILADELPHIA.COMWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1987FormationYr
Legal Domicile StatePALegalDomicileStateCd
Activity Or MissionTO EDUCATE CHILDREN INCLUDING THOSE FROM AT-RISK NEIGHBORHOODS, IN AN ENVIRONMENT THAT PROVIDES THE HIGHEST STANDARDS FOR ACADEMIC ACHIEVEMENT AND SPIRITUAL DEVELOPMENT.ActivityOrMissionDesc
Voting Members Governing Body20VotingMembersGoverningBodyCnt
Voting Members Independent19VotingMembersIndependentCnt
Total Employee56TotalEmployeeCnt
Total Volunteers168TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$2,878,132PYContributionsGrantsAmt
CY Contributions Grants$1,986,230CYContributionsGrantsAmt
PY Program Service Revenue$560,748PYProgramServiceRevenueAmt
CY Program Service Revenue$608,639CYProgramServiceRevenueAmt
PY Investment Income$2,354PYInvestmentIncomeAmt
CY Investment Income$19,604CYInvestmentIncomeAmt
PY Other Revenue$6,105PYOtherRevenueAmt
CY Other Revenue$5,601CYOtherRevenueAmt
PY Total Revenue$3,447,339PYTotalRevenueAmt
CY Total Revenue$2,620,074CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$1,368,991PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$1,638,714CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$22,220CYTotalFundraisingExpenseAmt
PY Other Expenses$544,805PYOtherExpensesAmt
CY Other Expenses$567,604CYOtherExpensesAmt
PY Total Expenses$1,913,796PYTotalExpensesAmt
CY Total Expenses$2,206,318CYTotalExpensesAmt
PY Revenues Less Expenses$1,533,543PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$413,756CYRevenuesLessExpensesAmt
Total Assets BOY$2,555,358TotalAssetsBOYAmt
Total Assets EOY$2,760,552TotalAssetsEOYAmt
Total Liabilities BOY$374,530TotalLiabilitiesBOYAmt
Total Liabilities EOY$169,178TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$2,180,828NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$2,591,374NetAssetsOrFundBalancesEOYAmt
MissionTO EDUCATE CHILDREN INCLUDING THOSE FROM AT-RISK NEIGHBORHOODS, IN AN ENVIRONMENT THAT PROVIDES THE HIGHEST STANDARDS FOR ACADEMIC ACHIEVEMENT AND SPIRITUAL DEVELOPMENT.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,282,860ExpenseAmt
Revenue$614,240RevenueAmt
DescTO EDUCATE CHILDREN, INCLUDING THOSE FROM AT-RISK NEIGHBORHOODS, IN AN ENVIRONMENT THAT PROVIDES THE HIGHEST STANDARDS FOR ACADEMIC ACHIEVEMENT AND SPIRITUAL DEVELOPMENT. PROVIDED OVER $719,000 OF FINANCIAL AID TO EDUCATIONAL NEEDS OF INTER CITY CHILDREN FROM LOW INCOME FAMILIES. AT THE BEGINNING OF THE SCHOOL YEAR 2014/15, 232 STUDENTS HAVE BEEN ENROLLED.Desc
Total Program Service Expenses$1,282,860TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Temp Or Permanent EndowmentsYes (1)TempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School OperatingYes (1)SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org MemYes (1)BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash ContriYes (1)DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee56EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members20GoverningBodyVotingMembersCnt
Independent Voting Member19IndependentVotingMemberCnt
Family Or Business RlnYes (1)FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (1)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BUSINESS MANAGERBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6105394136PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1186 S MIDLAND AVEAddressLine1Txt
CityAUDUBONCityNm
State AbbreviationPAStateAbbreviationCd
ZIP19403ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
PETER W GRIM
BOARD CHAIR0.30Yes (X)Yes (X)$0$0$0
DENNIS HORNER
TREASURER5.00Yes (X)Yes (X)$0$0$0
MARY CLAMPET
SECRETARY0.30Yes (X)Yes (X)$0$0$0
REV DR ANITA M BELL
BOARD MEMBER0.30Yes (X)$0$0$0
RONALD BOND
BOARD MEMBER0.30Yes (X)$0$0$0
DONNELL SHEPPARD
BOARD MEMBER0.30Yes (X)$0$0$0
MAROSSA DAVIS
BOARD MEMBER0.30Yes (X)$0$0$0
KENNETH C FRAZIER ESQ
BOARD MEMBER0.30Yes (X)$0$0$0
WAYNE GEISSER
VICE-CHAIR0.30Yes (X)Yes (X)$0$0$0
CYNTHIA HANSCOM
BOARD MEMBER0.30Yes (X)$0$0$0
DARYL MARTINO
BOARD MEMBER0.30Yes (X)$0$0$0
JAMES W SUMMERS
BOARD MEMBER0.30Yes (X)$0$0$0
KEVIN BLACKNEY
BOARD MEMBER0.30Yes (X)$0$0$0
REBECCA CLAYTON ESQ
BOARD MEMBER0.30Yes (X)$0$0$0
DR JANICE BOWDRE
BOARD MEMBER0.30Yes (X)$0$0$0
CASEY DUNN
BOARD MEMBER0.30Yes (X)$0$0$0
WILLIAM P SIMON JR
BOARD MEMBER0.30Yes (X)$0$0$0
JAMES J DOLENTE SR
BOARD MEMBER1.30Yes (X)$0$0$0
CHARLES A OLSON III
BOARD MEMBER2.30Yes (X)$0$0$0
RICHARD D SCOTT
BOARD MEMBER3.30Yes (X)$0$0$0
DEBORAH LEE
PRINCIPAL40.00Yes (X)$62,906$0$597
RICHARD R OLLINGER
PRESIDENT/CEO40.00Yes (X)$89,102$0$850
FieldValueIRS element (for citing)
Total Reportable Comp From Org$152,008TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$1,447TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$1,986,230AllOtherContributionsAmt
Noncash Contributions$77,482NoncashContributionsAmt
Total Contributions$1,986,230TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
TUITION AND FEES900099$558,839$558,839
STUDENT TRIPS AND CAMP900099$49,800$49,800
FieldValueIRS element (for citing)
Total Program Service Revenue$608,639TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$19,604TotalRevenueColumnAmt
Exclusion$19,604ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescMISCELLANEOUS INCOMEDesc
Business900099BusinessCd
Total Revenue Column$5,601TotalRevenueColumnAmt
Related Or Exempt Func Income$5,601RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Other Revenue Total$5,601OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,620,074TotalRevenueColumnAmt
Related Or Exempt Func Income$614,240RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$19,604ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$152,008TotalAmt
Program Services$89,316ProgramServicesAmt
Management And General$62,692ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$1,486,706TotalAmt
Program Services$873,552ProgramServicesAmt
Management And General$613,154ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$16,800TotalAmt
Program Services$8,400ProgramServicesAmt
Management And General$8,400ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$6,720TotalAmt
Program Services$3,360ProgramServicesAmt
Management And General$3,360ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$96,318TotalAmt
Program Services$48,159ProgramServicesAmt
Management And General$48,159ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$184,181TotalAmt
Program Services$100,424ProgramServicesAmt
Management And General$83,757ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$2,354TotalAmt
Management And General$2,354ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$58,660TotalAmt
Program Services$29,330ProgramServicesAmt
Management And General$29,330ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$43,310TotalAmt
Program Services$21,655ProgramServicesAmt
Management And General$21,655ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtManagement And GeneralManagementAndGeneralAmtProgram ServicesProgramServicesAmt
BAD DEBTS$28,377$28,377
STUDENT TRIPS$23,648$23,648
STAFF DEVELOPMENT$22,630$22,630
SUMMER SCHOOL AND PAREN$22,385$22,385

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$62,221TotalAmt
Program Services$40,001ProgramServicesAmt
Fundraising$22,220FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$2,206,318TotalAmt
Program Services$1,282,860ProgramServicesAmt
Management And General$901,238ManagementAndGeneralAmt
Fundraising$22,220FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$75,281BOYAmt
EOY$44,049EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$342,284BOYAmt
EOY$632,442EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$1,151,500BOYAmt
EOY$742,172EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$8,250BOYAmt
EOY$54,516EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$1,564,388LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$571,625LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$876,423BOYAmt
EOY$992,763EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$101,620BOYAmt
EOY$294,610EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$2,555,358BOYAmt
EOY$2,760,552EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$183,610BOYAmt
EOY$156,142EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$12,795BOYAmt
EOY$13,036EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$178,125BOYAmt
EOY$0EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$374,530BOYAmt
EOY$169,178EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$280,427BOYAmt
EOY$271,151EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,850,401BOYAmt
EOY$2,270,223EOYAmt

Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$50,000BOYAmt
EOY$50,000EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$2,180,828BOYAmt
EOY$2,591,374EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$2,555,358BOYAmt
EOY$2,760,552EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$413,756ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst-$3,210NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

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

CY Endwmt Fund CYEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$101,620BeginningYearBalanceAmt
Contributions$196,200ContributionsAmt
Investment Earnings Or Losses-$3,210InvestmentEarningsOrLossesAmt
End Year Balance$294,610EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$91,666BeginningYearBalanceAmt
Investment Earnings Or Losses$9,954InvestmentEarningsOrLossesAmt
End Year Balance$101,620EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$82,715BeginningYearBalanceAmt
Investment Earnings Or Losses$8,951InvestmentEarningsOrLossesAmt
End Year Balance$91,666EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$84,035BeginningYearBalanceAmt
Investment Earnings Or Losses-$1,320InvestmentEarningsOrLossesAmt
End Year Balance$82,715EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$65,997BeginningYearBalanceAmt
Contributions$4,198ContributionsAmt
Investment Earnings Or Losses$14,393InvestmentEarningsOrLossesAmt
Administrative Expenses$553AdministrativeExpensesAmt
End Year Balance$84,035EndYearBalanceAmt
FieldValueIRS element (for citing)
Prmnnt Endowment Balance EOY0.17000PrmnntEndowmentBalanceEOYPct
Term Endowment Balance EOY0.83000TermEndowmentBalanceEOYPct
Endowments Held Unrelated OrgYes (1)EndowmentsHeldUnrelatedOrgInd
Endowments Held Related Org0EndowmentsHeldRelatedOrgInd

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$16,875OtherCostOrOtherBasisAmt
Book Value$16,875BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$574,121OtherCostOrOtherBasisAmt
Depreciation$270,018DepreciationAmt
Book Value$304,103BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$719,493OtherCostOrOtherBasisAmt
Depreciation$217,155DepreciationAmt
Book Value$502,338BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$116,478OtherCostOrOtherBasisAmt
Depreciation$84,452DepreciationAmt
Book Value$32,026BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$137,421OtherCostOrOtherBasisAmt
Book Value$137,421BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$992,763TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp

FieldValueIRS element (for citing)
DescBENEFICIAL INTEREST IN ENDOWMENT FUNDDesc
Book Value$294,610BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Other Assets$294,610TotalBookValueOtherAssetsAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$2,616,864TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst-$3,210NetUnrealizedGainsInvstAmt
Revenue Not Reported-$3,210RevenueNotReportedAmt
Revenue Subtotal$2,620,074RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$2,620,074TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$2,206,318TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$2,206,318ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$2,206,318TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART V, LINE 4:BENEFICIAL INTEREST IN ENDOWMENT FUND IN MAY 2000, THE ACADEMY ENTERED INTO A BENEFICIAL INTEREST IN ENDOWMENT FUND (THE FUND) VIA AN IRREVOCABLE AGREEMENT WITH THE PHILADELPHIA FOUNDATION (THE FOUNDATION), A NON-RELATED ENTITY. THE ORIGINAL AGREEMENT STATED THAT THE FOUNDATION IS TO RETAIN AND REINVEST 100% OF THE INCOME ANNUALLY UNTIL THE FUND REACHED $300,000. THE FOUNDATION LOWERED THE REQUIREMENT ON THE SCHOOL'S BENEFICIAL INTEREST IN ENDOWMENT FUND RESTRICTION FROM $300,000 TO $50,000 IN FEBRUARY 2010, THEREBY PERMITTING THE SCHOOL TO RECEIVE DISTRIBUTIONS FROM THE FUND. THE SPENDING RATE IN EFFECT WHEN THE FUND DOES REACH $50,000 PROVIDES THE FOUNDATION TO ANNUALLY DISBURSE 5% OF THE AVERAGE QUARTERLY VALUE OF THE FUND. DISTRIBUTIONS FROM THE FUND SHALL BE USED FOR GENERAL OPERATIONAL EXPENSES, WHICH INCLUDES, BUT IS NOT LIMITED TO, STUDENT FINANCIAL AID, CAPITAL IMPROVEMENTS, AND CURRICULUM DEVELOPMENT.
PART X, LINE 2:THE ACADEMY ADHERES TO THE PROVISIONS OF FASB ASC 740, INCOME TAXES (ASC 740). ASC 740 ESTABLISHES RULES FOR RECOGNIZING AND MEASURING TAX POSITIONS TAKEN IN AN INCOME TAX RETURN, INCLUDING DISCLOSURES OF UNCERTAIN TAX POSITIONS (UTPS). ASC 740 MANDATES THAT COMPANIES EVALUATE ALL MATERIAL INCOME TAX POSITIONS FOR PERIODS THAT REMAIN OPEN UNDER APPLICABLE STATUTES OF LIMITATION, AS WELL AS POSITIONS EXPECTED TO BE TAKEN IN FUTURE RETURNS. THE UTP RULES THEN IMPOSE A RECOGNITION THRESHOLD ON EACH TAX POSITION. A COMPANY CAN RECOGNIZE AN INCOME TAX BENEFIT ONLY IF THE POSITION HAS A "MORE LIKELY THAN NOT" (I.E., MORE THAN 50 PERCENT) CHANCE OF BEING SUSTAINED ON ITS TECHNICAL MERITS. FOR THE YEARS ENDED JUNE 30, 2015 AND 2014, THE ACADEMY HAS TAKEN NO MATERIAL TAX POSITIONS ON ITS APPLICABLE TAX FILINGS THAT DO NOT MEET THE MORE LIKELY THAN NOT THRESHOLD. AS A RESULT, NO AMOUNT FOR UTPS HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. THE ACADEMY BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS PRIOR TO 2012.

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (1)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (1)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (1)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (1)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (1)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (1)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (1)MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts0DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy0DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty0DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs0DiscriminateRaceSchsInd
Discriminate Race Educ Plcy0DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts0DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog0DiscriminateRaceAthltProgInd
Discriminate Race Other Acty0DiscriminateRaceOtherActyInd
Government Financial Aid Rcvd0GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd0GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (1)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE E, PART I, LINE 3FormAndLineReferenceDesc
ExplanationTHE PURPOSE OF THE SCHOOL IS TO EDUCATE CHILDREN INCLUDING THOSE FROM AT-RISK NEIGHBORHOODS, IN AN ENVIRONMENT THAT PROVIDES THE HIGHEST STANDARDS FOR ACADEMIC ACHIEVEMENT AND SPIRITUAL DEVELOPMENT.ExplanationTxt

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp

Name Of Interested NameOfInterested

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BUILDING RENEWAL INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Relationship DescriptionOWNED BY A BOARD MEMBERRelationshipDescriptionTxt
Transaction$10,005TransactionAmt
TransactionTHE ACADEMY PAID $10,005 FOR SERVICES FOR MAINTENANCE AND CONSULTING WORK RELATED TO ACCREDITATION.TransactionDesc
Sharing Of Revenues0SharingOfRevenuesInd

Schedule M IRS990ScheduleM

Securities Publicly Traded SecuritiesPubliclyTradedGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
Contribution6ContributionCnt
Noncash Contributions Rpt F990$77,482NoncashContributionsRptF990Amt
Method Of Determining RevenuesFAIR VALUEMethodOfDeterminingRevenuesTxt
FieldValueIRS element (for citing)
Any Property That Must Be Held0AnyPropertyThatMustBeHeldInd
Review Process Unusual NC Gifts0ReviewProcessUnusualNCGiftsInd
Third Parties Used0ThirdPartiesUsedInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 2THE BUSINESS MANAGER, NORMA HORNER IS THE WIFE OF THE TREASURER, DENNIS HORNER.
FORM 990, PART VI, SECTION A, LINE 7BANY MAJOR DECISIONS BY MANAGEMENT MUST GET APPROVED BY THE BOARD.
FORM 990, PART VI, SECTION B, LINE 11A COPY OF THE COMPLETED FORM 990 AND RELATED SCHEDULES IS REVIEWED BY THE TREASURER. THE FINANCE COMMITTEE REVIEWS AND APPROVES THE FINAL COPY OF THE IRS FORM 990 AND RELATED SCHEDULES AND THE FINAL COPY IS PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES.
FORM 990, PART VI, SECTION B, LINE 12CTHE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY WITH EMPLOYEES AND BOARD MEMBERS. NEW BOARD MEMBERS ARE INFORMED OF THE POLICY WHEN THEY JOIN THE BOARD.
FORM 990, PART VI, SECTION B, LINE 15ACOMPENSATION IS REVIEWED ANNUALLY BY THE FULL BOARD OF TRUSTEES. THE BOARD USES COMPARABILITY DATA FROM THE "EVANGELICAL COUNCIL OF FINANCIAL ACCOUNTABILITY", THE ASSOCIATION OF CHRISTIAN SCHOOLS INTERNATIONAL (ACSI), AND THE PHILADELPHIA ASSOCIATION OF INDEPENDENT SCHOOL BUSINESS OFFICERS (PAISBOA).
FORM 990, PART VI, SECTION C, LINE 19UPON WRITTEN REQUEST. THEY MAY ALSO VIEW THE POLICY IN THE OFFICE OF MANAGEMENT.
PART XII, 2CTHE EXECUTIVE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.