2014-07-14T15:24:48-05:00 2013-08-31 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD STE 700 LOS ANGELES CA 900243783 990 2012-09-01 952539719 PARK CENTURY SCHOOL PARK 3108400500 3939 LANDMARK ST CULVER CITY CA 90232 DOUGLAS E PHELPS 3108400500 2014-07-11 1 NANAZ BENYAMINI P00666808 3104773924 2014-07-03 2012 2015-11-30 17:44:51Z DOUGLAS E PHELPS 3939 LANDMARK ST CULVER CITY CA 90232 7076453 0 X WWW.PARKCENTURYSCHOOL.ORG X 1968 CA TO MEET THE EDUCATIONAL, EMOTIONAL AND SOCIAL NEEDS OF LEARNING DISABLED STUDENTS. 26 25 72 26 0 0 1140511 1448880 5082872 5461121 36832 31259 189144 53960 6449359 6995220 198200 232750 0 0 4185789 4575931 0 0 179279 2336625 2563335 6720614 7372016 -271255 -376796 24859723 25513967 15659106 16583397 9200617 8930570 TO MEET THE EDUCATIONAL, EMOTIONAL AND SOCIAL NEEDS OF LEARNING DISABLED STUDENTS. 0 0 4105718 232750 5479704 THE PARK CENTURY ACADEMIC PROGRAM IS TAUGHT IN ONE-TO-ONE AND SMALL GROUPS TUTORIAL SESSIONS AS WELL AS IN SMALL UNGRADED CLASSROOMS. ONE-TO-ONE INSTRUCTION IN READING AND MATHEMATICS IS PROVIDED. SUBJECT AREAS SUCH AS SOCIAL STUDIES AND SCIENCE ARE PRESENTED WITHIN SMALL GROUPS. WRITTEN AND ORAL EXPESSION ARE TAUGHT INDIVIDUALLY. INTEGRAL PARTS OF THE PROGRAM ARE COMPUTER AND STUDY SKILLS, PHYSICAL EDUCATION AND PERCEPTUAL MOTOR SKILLS, ARTS AND ENRICHMENT, AND, IF NECESSARY, SPEECH AND LANGUAGE THERAPY. STUDENTS ARE HELPED TO DEVELOP A POSITIVE SELF IMAGE, SET REALISTIC GOALS AND LEARN SKILLS AND STRATEGIES NECESSARY TO SUCCEED IN SECONDARY SCHOOLS. 4105718 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 22 0 1 72 1 0 0 0 0 0 1 1 0 0 0 0 X 26 25 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X ANGELICA CASTRO - CHIEF FINANCIAL O 3108400500 3939 LANDMARK ST CULVER CITY CA 90232 MICHAEL BRYANT MD 1.00 X 0 0 0 DEBBIE CHERNOFF 1.00 X 0 0 0 LISA DOHERTY 1.00 X 0 0 0 SARAH EMANUEL 1.00 X 0 0 0 FLAXIE FLETCHER MD 1.00 X 0 0 0 CINDY FREY 1.00 X 0 0 0 HELEN HARTUNG 1.00 X 0 0 0 JUSTIN HUNT 1.00 X 0 0 0 ANTHONY JAFFE 1.00 X 0 0 0 PAUL JENNINGS 1.00 X 0 0 0 STEVE LEDER 1.00 X 0 0 0 RENEE MASI 1.00 X 0 0 0 TIM MASON 1.00 X 0 0 0 SANDRA RABINS MATHERN 1.00 X 0 0 0 CONNIE MICHAELS 1.00 X 0 0 0 JEFFREY MIRKIN 1.00 X 0 0 0 RICHARD NEWMAN 1.00 X 0 0 0 KENNETH SALKIN 1.00 X 0 0 0 SALLY SHAYWITZ MD 1.00 X 0 0 0 PHYLLIS THOMAS 1.00 X 0 0 0 RAE SANCHINI TOBEY 1.00 X 0 0 0 LOUIS UNGAR 1.00 X 0 0 0 JOSHUA WAYSER 1.00 X 0 0 0 BESS ARMSTRONG FIEDLER 1.00 X X 0 0 0 STEPHEN THOMAS 1.00 X X 0 0 0 EDWARD VICTOR 1.00 X X 0 0 0 ANGELICA CASTRO 40.00 X 0 0 0 DOUGLAS E PHELPS 40.00 X 0 0 0 GENNY SHAIN 40.00 X 71791 0 47969 GAIL SPINDLER 40.00 X 160000 0 54225 NANCY BLEY 40.00 X 112498 0 29969 344289 0 132163 2 0 1 0 0 39165 1409715 1448880 TUITION AND FEES 611600 5461121 5461121 5461121 31259 31259 114910 39165 81233 33677 33677 OTHER INCOME 611710 20283 18583 1700 20283 6995220 5479704 0 66636 232750 232750 593434 318809 274625 2811993 2109162 596506 106325 46356 19144 26356 856 863578 344380 501495 17703 260570 187047 65155 8368 15608 15608 23325 23325 320421 101105 219316 175117 149525 25592 80061 52886 27175 458396 458396 671122 536898 134224 LOSS ON EXTINGUISHMENT 509849 509849 BOND COMMISSIONS & FEES 50465 50465 FUNDRAISING 48387 2360 46027 BAD DEBT 46883 46883 163701 54012 109689 7372016 4105718 3087019 179279 5300 56525 6359318 6861355 517564 612588 52958 283934 57116 43939 18902574 3291181 16124846 15611393 958267 1455253 784354 588980 24859723 25513967 224701 595601 2441815 2854499 10000000 12746618 2992590 386679 15659106 16583397 X 7611866 8002312 1426931 741438 161820 186820 9200617 8930570 24859723 25513967 X -376796 -127 106876 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 187154 25000 212154 182767 7500 1852 4965 187154 168425 20000 2715 8373 182767 165381 5044 2000 168425 145524 21300 1658 3101 165381 0.00000 0.88060 0.11940 0 0 4050000 4050000 13654163 2275694 11378469 957315 821303 136012 241096 194184 46912 15611393 TAX-DEFERRED COMPENSATION PLAN OBLIGATION - 457(B) 343829 CAPTAL LEASE OBLIGATION 42850 386679 X 6869219 -127 106876 106749 6762470 232750 232750 6995220 7139266 0 7139266 232750 232750 7372016 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: FACULTY DEVELOPMENT AND FINANCIAL AID. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: IN ACCORDANCE WITH FASB ASC TOPIC NO. 740, "UNCERTAINTY IN INCOME TAXES," THE SCHOOL RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. TO DATE, THE SCHOOL HAS NOT RECORDED ANY UNCERTAIN TAX POSITIONS. DURING THE YEAR ENDED AUGUST 31, 2013, THE SCHOOL DID NOT RECOGNIZE ANY AMOUNT IN POTENTIAL INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS. THE SCHOOL IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE OR LOCAL INCOME TAX EXAMINATIONS BY THE TAX AUTHORITIES FOR YEARS BEFORE 2009. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUATION OF INTEREST RATE SWAP 97,520. ACTUARIAL GAIN ON THE 457(B) PLAN 9,356. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 232,750. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 232,750. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 PARK CENTURY SCHOOL PUBLISHED ITS RACIALLY NON-DISCRIMINATORY POLICY IN NEWSPAPER MEDIA, IN ADDITION TO PRINTING IT ON BROCHURES, APPLICATION FORMS, AND SCHOLARSHIP APPLICATION FORMS GIVEN TO POTENTIAL NEW STUDENTS. SPRING BENEFIT 154075 39165 114910 12300 36342 32591 154075 39165 114910 12300 36342 32591 81233 33677 1 FINANCIAL AID AWARDED TO ELIGIBLE STUDENTS 11 232750 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SCHOLARSHIPS ARE GRANTED TO STUDENTS BASED ON FINANCIAL NEEDS AS DETERMINED BY THE BOARD OF TRUSTEES' FINANCIAL AID COMMITTEES' FINANCIAL AID COMMITTEE SCHOLARSHIPS ARE AWARDED ON A RACIALLY NON-DISCRIMINATORY BASIS. X X X 0 0 0 0 0 0 0 0 0 GAIL SPINDLER 160000 0 0 0 0 0 0 0 54225 0 214225 0 0 0 SUPPLEMENTAL INFORMATION PART III SCHEDULE J PART II: PLEASE NOTE THAT DURING CALENDAR YEAR 2012 GAIL SPINDLER FULFILLED THE DUTIES OF HER COLLEAGUE WHO WAS ABSENT FOR A FEW MONTHS DURING THE YEAR. THEREFORE, SHE RECEIVED AN INCREASE IN HER WAGES FOR THOSE MONTHS. A CA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 521598225 1309115Y2 2007-09-27 10000000 SEE PART V 0 0 0 A 10000000 10000000 296615 9703385 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 BANK OF AMERICA 24.000000000000 0 0 0 0 0 A 0 SCHEDULE K, PART I: DESCRIPTION OF PURPOSE OF BOND TO REFINANCE THE BANK NOTE PAYABLE AND FINANCE THE ACQUISITION, DESIGN, CONSTRUCTION AND IMPROVEMENT OF THE SCHOOL'S NEW CAMPUS IN CULVER CITY. REBECCA CHERNOFF DAUGHTER OF TRUSTEE 52082 REBECCA CHERNOFF IS A SALARIED TEACHER AT THE SCHOOL AND THE DAUGHTER OF A TRUSTEE 0 X 1 114136 FMV 0 0 0 1 THIRD PARTY USE: PART I, LINE 32B: THE ORGANIZATION USES A BROKER TO SELL THEIR STOCK CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 2 THE ORGANIZATION'S BOARD TRUSTEES STEPHEN THOMAS AND PHYLLIS THOMAS ARE RELATED AS BROTER-IN-LAW AND SISTER-IN-LAW. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION'S FORM 990 WAS PREPARED BY PROFESSIONAL, INDEPENDENT ACCOUNTANTS. THE BOARD OF TRUSTEES DELEGATED THE REVIEW OF THE DRAFT OF THE FORM 990 TO THE AUDIT COMMITTEE, THE MEMBERSHIP OF WHICH INCLUDES NON-TRUSTEES WITH PROFESSIONAL EXPERTISE IN ACCOUNTING AND FEDERAL TAX LAW. BEFORE SUBMISSION OF THE FORM 990 TO THE IRS, THE AUDIT COMMITTEE REVIEWS A DRAFT OF THE FORM 990 AND REPORTS TO THE BOARD OF TRUSTEES THAT THE AUDIT COMMITTEE HAD, TO THE BEST OF ITS ABILITY, DETERMINED THAT THE FORM 990 WAS COMPLETE, ACCURATE, AND CORRECT. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER, TRUSTEE AND KEY EMPLOYEE IS ANNUALLY REQUIRED TO COMPLETE A QUESTIONNAIRE REGARDING ACTUAL AND POTENTIAL CONFLICTS OF INTEREST, AND THE COMMITTEE ON TRUSTEES OF THE BOARD REVIEW THESE QUESTIONNAIRES. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR KEY EMPLOYEES AND MANAGEMENT IS DETERMINED ANNUALLY BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES AS PART OF THE PREPARATION OF THE ANNUAL BUDGET. COMPARATIVE SALARY DATA IS OBTAINED BY MEMBERS OF THE COMMITTEE AND BOARD WHO CONTACT OTHERS SCHOOLS AND PERFORM OTHER SURVEYS. THE COMPENSATION DECISIONS ARE DOCUMENTED IN THE FINANCE COMMITTEE MINUTES. THE ORGANIZATION IS CURRENTLY IN THE PROCESS OF PROVIDING WRITTEN EMPLOYMENT CONTRACTS FOR ITS EXECUTIVES. FORM 990, PART VI, SECTION C, LINE 18 FORM 990, PART VI, SECTION C, LINE 18: THE FORM 990 IS AVAILABLE UPON REQUEST AND ALSO AVAILABLE ON THE PUBLIC WEBSITE WWW.GUIDESTAR.ORG. THE ORGANIZATION IS EXEMPT FROM SUPPLYING ITS FORM 1023 TO ANYONE REQUESTING FOR THIS BECAUSE IT FILED ITS FORM 1023 BEFORE JULY 15, 1987 AND DID NOT RETAIN A COPY OF THE FORM. ACCORDING TO THE INSTRUCTIONS FROM THE IRS WEBSITE, AN ORGANIZATION THE FILED ITS FORM 1023 APPLICATION BEFORE JULY 15, 1987, IS REQUIRED TO MAKE THE APPLICATION AVAILABLE IF IT HAD A COPY OF THE APPLICATION ON JULY 15, 1987. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUATION OF INTEREST RATE SWAP 97,520. ACTUARIAL GAIN ON THE 457(B) PLAN 9,356.