2014-11-03T10:10:28-06:00 2014-06-30 141918990 TEMPLETON & COMPANY LLP 222 LAKEVIEW AVENUE SUITE 1200 WEST PALM BEACH FL 33401 990 2013-07-01 590977808 GULF STREAM SCHOOL INC GULF 5612765225 3600 GULF STREAM ROAD GULF STREAM FL 33483 HILARY LYNCH PRESIDENT 5612765225 2014-10-27 1 RICHARD JUBACK P00630706 5617989988 2013 2015-11-30 17:44:51Z HILARY LYNCH 3600 GULF STREAM ROAD GULF STREAM FL 33483 6478120 0 X WWW.GULFSTREAMSCHOOL.ORG X 1971 FL EDUCATION OF GRADES PRE-SCHOOL THROUGH EIGHTH GRADE. 17 17 55 180 0 0 1115486 1035302 5038922 5072249 202534 242763 12058 -49194 6369000 6301120 387886 413847 0 0 3380655 3662349 0 0 2313 1555186 1432312 5323727 5508508 1045273 792612 19983181 21955626 1055851 882525 18927330 21073101 EDUCATION OF GRADES PRE-SCHOOL THROUGH EIGHTH GRADE. 0 0 4231611 413847 5076649 COMPREHENSIVE EDUCATIONAL PROGRAM SERVING 250 STUDENTS FROM PRE-SCHOOL THROUGH EIGHTH GRADE. 4231611 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 7 0 1 55 1 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 FL X X HUGH MC GRAW 5612765225 3600 GULF STREAM ROAD GULF STREAM FL 33483 GREG YOUNG TRUSTEE 1.00 X 0 0 0 HILARY LYNCH PRESIDENT 12.00 X X 0 0 0 DEVON COUGHLIN VICE PRESIDENT 1.00 X X 0 0 0 MARY ALICE UNDERWOOD TREASURER 1.00 X X 0 0 0 SHIELDS FERBER JR TRUSTEE 1.00 X 0 0 0 CHARLES FRANKEL III TRUSTEE 1.00 X 0 0 0 KENNETH KALEEL TRUSTEE 1.00 X 0 0 0 ROGER KUMAR JR TRUSTEE 1.00 X 0 0 0 RONALD LUSK TRUSTEE 1.00 X 0 0 0 LISA MORGAN TRUSTEE 1.00 X 0 0 0 ROBIN MUIR SECRETARY 1.00 X X 0 0 0 BARRON SNYDER TRUSTEE 1.00 X 0 0 0 PENNY KOSINSKI TRUSTEE 1.00 X 0 0 0 DR KEVEN ROSS TRUSTEE 1.00 X 0 0 0 KATHY SCHILLING-COLLETTA MD TRUSTEE 1.00 X 0 0 0 WILLIAM SHANNON TRUSTEE 1.00 X 0 0 0 JOHN THOMPSON TRUSTEE 1.00 X 0 0 0 JOSEPH J ZALUSKI HEAD OF SCHOOL 45.00 X 175887 0 27456 FRED HOFFMAN BUSINESS MANAGER 45.00 X 156000 0 9170 331887 0 36626 2 0 1 0 0 1035302 1035302 TUITIONS AND FEES 611110 4856908 4856908 AUXILIARY 611110 212930 212930 SUMMER CAMP PROGRAM 611110 2411 2411 5072249 242763 242763 34731 40105 -5374 -5374 -5374 88675 136895 -48220 -48220 TRUSTEE DUES INCOME 611110 4400 4400 4400 6301120 5076649 0 189169 413847 413847 331887 175887 156000 2522937 2057620 465317 157223 126643 30580 458508 369328 89180 191794 154490 37304 2140 2140 35764 35764 44749 44749 100190 31570 68620 430722 346947 83775 19354 19354 395852 318859 76993 150493 121222 29271 MISCELLANEOUS EXPENSE 90287 9190 81097 SUPPLIES 65749 65749 COMPUTER EXPENSE 35659 35659 STAFF DEVELOPMENT 23283 18754 4529 38070 21505 14252 2313 5508508 4231611 1274584 2313 3327254 629499 358745 371839 71780 107643 111334 90069 13896760 6443908 6189974 7452852 9924094 13303724 19983181 21955626 508568 382742 547283 499783 1055851 882525 X 17332359 18906212 754721 756139 840250 1410750 18927330 21073101 19983181 21955626 792612 1353159 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9495490 1615386 1540275 1002376 11648775 6920176 2508675 1031628 964989 9495490 7016868 76890 150950 324532 6920176 6216689 293132 1117435 610388 7016868 5207164 515661 778839 284975 6216689 0 0 803210 803210 10366770 4238153 6128617 2331663 1942126 389537 395117 263629 131488 7452852 X 7292993 1353159 177000 1530159 5762834 35764 502522 538286 6301120 5147222 177000 177000 4970222 35764 502522 538286 5508508 PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT IS TO ASSIST THE SCHOOL IN MAINTAINING FINANCIAL STABILITY. THE MAIN FUNCTION OF THE ENDOWMENT FUND IS TO HELP MINIMIZE TUITION INCREASES THAT MIGHT OTHERWISE BE REQUIRED AS EDUCATIONAL COSTS RISE. PART X, LINE 2: THE SCHOOL HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE FINANCIAL STATEMENTS. THE SCHOOL IS REQUIRED TO OPERATE IN CONFORMITY WITH THE PROVISIONS OF THE IRC TO MAINTAIN ITS EXEMPT STATUS. MANAGEMENT ANALYZES TAX POSITIONS IN JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS. BASED ON ITS EVALUATION, MANAGEMENT DID NOT IDENTIFY ANY TAX POSITIONS FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY INCREASE OR DECREASE. INTEREST AND PENALTIES ATTRIBUTABLE TO INCOME TAXES, IF ANY, ARE INCLUDED IN OPERATING EXPENSES. NO SUCH INTEREST OR PENALTIES WERE RECORDED FOR THE YEARS 2014 OR 2013. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES - LINE 6B 40,105. SPECIAL EVENT EXPENSES 136,895. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSIONS 413,847. SPECIAL EVENT REVENUE 88,675. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES - LINE 6B 40,105. SPECIAL EVENT EXPENSES 136,895. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSIONS 413,847. SPECIAL EVENT REVENUE 88,675. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE FOLLOWING STATEMENT IS INCLUDED IN THE ANNUAL BROCHURE AND LOCAL NEWSPAPER: GULF STREAM DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR OR NATIVE ORIGINS IN ITS ADMISSIONS, FINANCIAL AID, EDUCATION, OR ANY OTHER PROGRAM. GALA 71750 71750 110902 BEACH BASH 10175 10175 14191 1 6750 6750 11802 88675 88675 136895 136895 -48220 1 FINANCIAL AID/TUITION REMISSION 34 413847 FMV PART I, LINE 2: GULF STREAM SCHOOL ENDEAVORS TO MAKE AVAILABLE NEED-BASED FINANCIAL AID TO QUALIFIED STUDENTS WHO ARE ACCEPTED TO THE SCHOOL. FINANCIAL AID ALLOWS DESERVING STUDENTS AN OPPORTUNITY FOR AN INDEPENDENT SCHOOL EDUCATION WHILE ENABLING THE SCHOOL TO ATTRACT FAMILIES AND STUDENTS WITH VARIED BACKGROUNDS AND INTERESTS. GULF STREAM SCHOOL SUBSCRIBES TO THE PRINCIPLES AND SERVICES OF SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS). PARENTS APPLYING FOR FINANCIAL AID MUST COMPLETE THE CONFIDENTIAL STATEMENT OF NEED KNOWN AS THE PARENTS' FINANCIAL STATEMENT (PFS). ONCE THE PFS IS RECEIVED AND REVIEWED BY SSS, GULF STREAM RECEIVES A REPORT WHICH INCLUDES A RECOMMENDATION FOR A FINANCIAL AID AWARD. FAMILIES MUST ALSO PROVIDE THE SCHOOL WITH SIGNED COPIES OF THEIR MOST RECENT IRS FORM 1040, INCLUDING ALL SCHEDULES, AND SUPPORTING DATA WITH W-2S. X X 0 0 X X 0 0 0 0 0 0 0 0 0 JOSEPH J ZALUSKI HEAD OF SCHOOL 175887 0 0 0 0 0 12019 0 15437 0 203343 0 0 0 FRED HOFFMAN BUSINESS MANAGER 156000 0 0 0 0 0 9170 0 0 0 165170 0 0 0 PART I, LINE 1A THE RESIDENCE OF THE HEAD OF SCHOOL IS PROVIDED FOR THE BENEFIT OF THE SCHOOL. THE RESIDENCE IS USED FOR THE FOLLOWING SCHOOL FUNCTIONS: COOKOUTS AND PICNICS FOR STUDENTS AND PARENTS; FACULTY ENTERTAINMENT; INDIVIDUAL COUNSELING OF STUDENTS AND PARENTS; ENTERTAINMENT AND HOUSING GUESTS; AND OTHER SIMILAR USE. THE PROPERTY IS AVAILABLE AT ALL TIMES FOR SUCH USE. THE DISCRETIONARY SPENDING ACCOUNT IS PROVIDED TO THE HEAD OF SCHOOL TO BE USED AT HIS DISCRETION. ALL OF THE ACTIVITY ON THIS ACCOUNT IS REVIEWED MONTHLY BY THE BUSINESS MANAGER. A MAJORITY OF THE EXPENSES ARE RELATED TO THE SCHOOL, TO UNDERWRITE THE STUDENT NEEDS OR THE RESIDENCE PROVIDED BY THE SCHOOL. THE HEAD OF SCHOOL AND BUSINESS MANAGER MEET MONTHLY TO VERIFY THAT ALL EXPENDITURES FROM THE ACCOUNT BENEFIT THE SCHOOL. RONALD LUSK TRUSTEE 11712 FINCL AID HILARY LYNCH PRESIDENT 35798 INSURANCE AGENT 0 0 FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE RETURN HAS BEEN PROVIDED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD OF TRUSTEE MEMBERS SIGN THE CONFLICT OF INTEREST POLICY. THE CONFLICT OF INTEREST POLICY REQUIRES MEMBERS WHO HAVE A CONFLICT TO DISCLOSE IT TO THE OTHER MEMBERS AND ABSTAIN FROM VOTING ON THE ITEM IN WHICH THEY HAVE A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES NEGOTIATES THE HEAD OF SCHOOLS ORIGINAL CONTRACT. THE BOARD OF TRUSTEES USES STATISTICAL INFORMATION FROM NAIS TO HELP DETERMINE THE HEAD OF SCHOOLS COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C: THE SCHOOL'S OVERSIGHT POLICY HAS NOT CHANGED,