2016-04-12T08:45:16-05:00 2015-05-31 LANE GORMAN TRUBITT PLLC 2626 HOWELL STREET SUITE 700 DALLAS TX 752044064 990 2014-06-01 202131507 June F Shelton Legacy Foundation % GLEN BROWN JUNE 9727741772 15720 Hillcrest Road Dallas TX 75248 GLEN BROWN TREASURER 9727741772 2016-04-15 true David H Ovesen P00740904 2148717500 2014 2016-08-17 19:52:53Z WILLIAM C WARD 15720 HILLCREST ROAD DALLAS TX 75248 1921845 false X N/A X 2004 TX TO SUPPORT THE JUNE SHELTON SCHOOL AND EVALUATION CENTER BY MANAGING, HOLDING AND INVESTING AN ENDOWMENT FUND FOR THE BENEFIT OF THE SCHOOL. 11 8 0 6 0 284827 277916 0 0 488159 315816 0 0 772986 593732 0 1130 0 0 32552 33982 0 0 0 45142 67840 77694 102952 695292 490780 6508615 6908370 66164 33982 6442451 6874388 X THE JUNE F. SHELTON LEGACY FOUNDATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR THE BENEFIT OF THE JUNE SHELTON SCHOOL AND EVALUATION CENTER. IT SHALL SUPPORT THE SCHOOL BY SOLICITING, RECEIVING, HOLDING, INVESTING, AND MANAGING GIFTS, CONTRIBUTIONS AND BEQUESTS, WHICH ARE INTENDED TO BENEFIT THE LONG-TERM GOALS, PURPOSES AND OBJECTIVES OF SHELTON SCHOOL, AND BY HOLDING, MANAGING AND INVESTING AN ENDOWMENT FUND FOR THE BENEFIT OF THE SCHOOL. false false 1130 1130 JUNE F. SHELTON LEGACY FOUNDATION PROVIDES FINANCIAL SUPPORT FOR JUNE SHELTON SCHOOL AND EVALUATION CENTER. THE SCHOOL IS AN INDEPENDENT, NONSECTARIAN, COEDUCATIONAL, NONPROFIT SCHOOL WHOSE PURPOSE IS TO PROVIDE EXCELLENCE IN EDUCATION TO STUDENTS OF AVERAGE TO ABOVE-AVERAGE INTELLIGENCE WITH LEARNING DIFFERENCES FROM PRESCHOOL THROUGH GRADE 12. THE SCHOOL OFFERS A COMPREHENSIVE CURRICULUM WITH A STRONG ACADEMIC ORIENTATION AND A NURTURING FAMILY ATMOSPHERE THAT CONSIDERS THE PHYSICAL, INTELLECTUAL, EMOTIONAL AND SOCIAL GROWTH OF EACH STUDENT. SHELTON SERVES SOME 887 STUDENTS ANNUALLY. GRADUATES HAVE AN 75% SUCCESS RECORD OF ENTERING A 4-YEAR COLLEGE. 1130 true true false false false false false false false true false false false false false true true true false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 0 0 true 0 false false false false false false false false false false X 11 8 false false false false false false false true true false false false true true true true true true false false X GLEN BROWN 9727741772 15720 HILLCREST ROAD Dallas TX 75248 SUZANNE STELL EXECUTIVE DIRECTOR, SCHOOL 1.0 41.0 X 0 229046 16936 GLEN BROWN TREASURER 1.0 41.0 X X 0 167625 0 JOYCE PICKERING EMERITA DIRECTOR, SCHOOL 1.0 41.0 X 0 131731 1500 WILLIAM C WARD CHAIRMAN 5.0 0.0 X X 0 0 0 GARY L WEBB VICE CHAIRMAN 1.0 2.0 X X 0 0 0 SUSAN JARZEMSKY TRUSTEE 1.0 1.0 X 0 0 0 BENTON MARKEY TRUSTEE 1.0 1.0 X 0 0 0 CYNTHIA WILSON KRAUSE TRUSTEE 1.0 0.0 X 0 0 0 KRISTY ROBINSON TRUSTEE 1.0 0.0 X 0 0 0 PHILLIP WIGGINS TRUSTEE 1.0 0.0 X 0 0 0 ROBERT L WALKER SECRETARY 1.0 1.0 X X 0 0 0 0 528402 18436 0 false true false NA 0 200000 77916 277916 0 93429 93429 0 0 0 0 0 1550500 1328113 222387 222387 222387 0 0 0 0 593732 315816 0 1130 1130 0 0 4376 4376 0 27250 27250 0 0 2356 2356 0 550 550 2450 2450 0 0 33019 33019 0 0 1821 1821 0 0 0 0 0 0 0 0 0 0 BAD DEBT EXPENSE 30000 30000 102952 1130 101822 0 182944 391011 0 0 1180000 644733 0 3000 0 0 0 0 0 0 0 0 0 0 0 5145671 5869626 0 0 0 0 0 0 0 0 6508615 6908370 66164 33982 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 66164 33982 X 2963157 3803649 3179294 2770739 300000 300000 6442451 6874388 6508615 6908370 X 490780 -58843 -416764 416764 X X false true X true false X X X 1 JUNE SHELTON SCHOOL AND EVALUATION CENTER 751507280 2 true 1130 0 1 1130 0 true false false false false false false false false false false false false false false true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6442451 277916 256973 1130 101822 6874388 5747159 284827 488159 77694 6442451 3494491 951157 604609 0 178725 92901 4778631 3423653 274060 1995 0 163999 41218 3494491 3408652 0 54747 0 38380 1366 3423653 0.55330 0.04360 0.40310 false false 0 0 X 501870 -58843 -58843 560713 33019 33019 593732 69933 69933 33019 33019 102952 FIN 48 (ASC 740) FOOTNOTE SCHEDULE D, PART X, LINE 2 FOLLOWING IS THE TEXT FROM THE FOOTNOTES OF THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS: The Foundation is exempt from federal income taxes under Section 501(c)(3) of the United States Internal Revenue Code (the "Code") according to the United States Internal Revenue Service ("IRS") determination letter dated July 17, 2012, except to the extent it has unrelated business income. For the years ended May 31, 2015 and 2014, unrelated business income did not result in any material net taxable income, therefore no provision for income tax has been provided in the accompanying financial statements. The Foundation is required to file an annual Form 990-T with the United States Internal Revenue Service for any unrelated business income. GAAP requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Foundations financial statements to determine whether the tax positions are more likely than not of being sustained by the applicable tax authority. Tax positions not deemed to meet the more likely than not threshold would be recorded as a tax benefit or expense in the current year. A reconciliation is not provided herein, as the beginning and ending amounts of unrecognized benefits are zero, with no interim additions, reductions, or settlements. The Foundation is relying on its tax-exempt status and its adherence to all applicable laws and regulations to preserve that status. However, the conclusions regarding the uncertainty in income taxes will be subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analysis of tax laws, regulations, and interpretations thereof. The Foundation recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense. The Foundations informational returns filed with the IRS are generally subject to examination for three years after the later of the due date or date of filing. As a result, the Foundation is no longer subject to income tax examinations by tax authorities for years prior to 2012. INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE ENDOWMENT FUNDS REPORTED CONSIST OF THE ENTIRE ACTIVITY OF THE JUNE F. SHELTON LEGACY FOUNDATION, WHICH IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF THE JUNE SHELTON SCHOOL AND EVALUATION CENTER. The June F. Shelton Legacy Foundation is a Texas nonprofit corporation, the principal purposes of which are to support, benefit and further the purposes of Shelton School, primarily by raising, preserving, managing and investing funds for the benefit of Shelton School. The Foundation's endowments according to GAAP definitions consist of only a single fund established and used for financial aid. Currently the Foundation considers donor restricted endowment funds, according to GAAP, as permanently restricted net assets in the amount of $300,000 as of May 31, 2015. The beginning of year balance for column (B) PRIOR year incorporates prior period adjustments totaling $968,527 recorded in the audited GAAP financial statements in relation to the change in accounting method from modified cash basis to accrual method of accounting and proper reallocation of fixed assets among related entities for presentational purposes. X X X X false false false false false false false false false SUZANNE STELL EXECUTIVE DIRECTOR, SCHOOL 0 204046 0 25000 0 0 0 1500 0 15436 0 245982 0 0 GLEN BROWN TREASURER 0 152625 0 15000 0 0 0 0 0 0 0 167625 0 0 REVIEW PROCESS OF FORM 990 FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE ORGANIZATION'S CHIEF FINANCIAL OFFICER AND EXECUTIVE DIRECTOR. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C FORMS ARE COMPLETED AND REVIEWED EACH YEAR. ANY CONFLICTS ARE REVIEWED AND THAT DIRECTOR IS ASKED TO REFRAIN FROM VOTING ON ANY ISSUE AFFECTED BY THE CONFLICT. DETERMINATION OF COMPENSATION FORM 990, PART VI, SECTION B, LINE 15A THE JUNE F. SHELTON LEGACY FOUNDATION DOES NOT DIRECTLY COMPENSATE ANY BOARD MEMBERS OR OFFICERS LISTED IN PART VII. THE RELATED ORGANIZATION, JUNE SHELTON SCHOOL AND EVALUATION CENTER, UTILIZES PUBLISHED INFORMATION FROM THEIR ACCREDITING BODY AS TO SALARY STRUCTURES BY POSITION. THE SCHOOL ALSO USES LOCAL PUBLIC SCHOOLS AS A BENCHMARK. THE EXECUTIVE COMMITTEE APPROVES THE EXECUTIVE DIRECTOR'S SALARY, WHICH IS DOCUMENTED IN THE COMMITTEE MEETING MINUTES. AVAILABILTY OF DOCUMENTS PART 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. AUDIT OVERSIGHT BOARD FORM 990, PART XI, LINE 2C NO CHANGE HAS BEEN MADE TO THE ORGANIZATION'S AUDIT OVERSIGHT PROCESS OR SELECTION PROCESS. PRIOR PERIOD ADJUSTMENT FORM 990, PART XI, LINE 8 $416,764 Prior Period Adjustment associated with change in accounting method from modified cash basis to accrual basis already accounted for in audited GAAP financials in year of change. OTHER CHANGES IN NET ASSETS OR FUND BALANCES FORM 990, Part XI, Line 9 Total positive section 481(a) adjustment of $1,667,054, due to change in accounting method from modified cash to accrual basis of accounting during the fiscal year ended 5/31/14, of which $416,764 is reported on Form 990, Part XI, Line 9 for the current year (and following two years) to account for the positive adjustment across four tax years in accordance with Section 7.03 of Rev. Proc. 2015-13. JUNE SHELTON SCHOOL & EVALUATION CENTER 15720 HILLCREST ROAD DALLAS TX 75248 751507280 SCHOOL TX 501(C)(3) 2 School false THE LANDMARK FOUNDATION 15720 HILLCREST ROAD DALLAS TX 75248 202532325 SUPPORT TX 501(C)(3) 11A-I School false false true true false false false false false false false false false false true true true false false false NA