2013-10-27T17:20:08-05:00 2013-06-30 141918990 TEMPLETON & COMPANY LLP 222 LAKEVIEW AVENUE SUITE 1200 WEST PALM BEACH FL 33401 990 2012-07-01 590977808 GULF STREAM SCHOOL INC GULF 5612765225 3600 GULF STREAM ROAD GULF STREAM FL 33483 GREGORY YOUNG 5612765225 2013-10-27 1 ISABELLA LUNSFORDCPA P00642327 5617989988 2013-10-23 2012 2016-02-25 16:41:14Z GREGORY YOUNG 3600 GULF STREAM ROAD GULF STREAM FL 33483 6414349 0 X WWW.GULFSTREAMSCHOOL.ORG X 1971 FL EDUCATION OF GRADES PRE-SCHOOL THROUGH EIGHTH GRADE. 18 18 63 172 0 0 555997 1115486 4904905 5038922 207083 202534 -3957 12058 5664028 6369000 326408 387886 0 0 3317239 3380655 0 0 55272 1418895 1555186 5062542 5323727 601486 1045273 18140546 19983181 1123685 1055851 17016861 18927330 EDUCATION OF GRADES PRE-SCHOOL THROUGH EIGHTH GRADE. 0 0 4082553 387886 5038922 COMPREHENSIVE EDUCATIONAL PROGRAM SERVING 250 STUDENTS FROM PRE-SCHOOL THROUGH EIGHTH GRADE. 4082553 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 1 63 1 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 FL X X FRED HOFFMAN 5612765225 3600 GULF STREAM ROAD GULF STREAM FL 33483 GREG YOUNG 12.00 X X 0 0 0 HILARY LYNCH 1.00 X X 0 0 0 DEVON COUGHLIN 1.00 X X 0 0 0 ANNE GAUDREE 12.00 X X 0 0 0 MARY ALICE UNDERWOOD 1.00 X X 0 0 0 SHIELDS FERBER JR 1.00 X 0 0 0 CHARLES FRANKEL III 1.00 X 0 0 0 KENNETH KALEEL 1.00 X 0 0 0 PENNY KOSINSKI 1.00 X 0 0 0 ROGER KUMAR JR 1.00 X 0 0 0 RONALD LUSK 1.00 X 0 0 0 LISA MORGAN 1.00 X 0 0 0 ROBIN MUIR 1.00 X 0 0 0 DR KEVIN ROSS 1.00 X 0 0 0 KATHY SCHILLING-COLLETTA MD 1.00 X 0 0 0 WILLIAM SHANNON 1.00 X 0 0 0 BARRON SNYDER 1.00 X 0 0 0 JOHN THOMPSON 1.00 X 0 0 0 JOSEPH J ZALUSKI 40.00 X 171112 0 30882 171112 0 30882 1 0 1 0 0 1115486 1115486 TUITIONS AND FEES 611110 4742466 4742466 AUXILIARY 611110 294572 294572 SUMMER CAMP PROGRAM 611110 1884 1884 5038922 202534 202534 31804 45349 -13545 -13545 -13545 MISCELLANEOUS INCOME 611110 21753 21753 TRUSTEE DUES INCOME 611110 3850 3850 25603 6369000 5064525 0 188989 387886 387886 171112 171112 2529104 2136115 392989 157223 126643 30580 328663 264738 63925 194553 156712 37841 2226 2226 25876 25876 30384 30384 96249 20198 76051 406961 327807 79154 10185 10185 8564 8564 355668 286491 69177 131966 106299 25667 AUXILIARY EXPENSE 133988 133988 MISCELLANEOUS EXPENSE 109679 20647 89032 SUPPLIES 68526 68526 FUNDRAISING EXPENSES 55272 55272 119642 46503 73139 5323727 4082553 1185902 55272 3806945 3327254 154789 358745 65720 71780 10006 70419 111334 12238029 6048055 6208991 6189974 7823676 9924094 18140546 19983181 468430 508568 655255 547283 1123685 1055851 X 15455016 17332359 721595 754721 840250 840250 17016861 18927330 18140546 19983181 1045273 865196 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6920176 2508675 1031628 964989 9495490 7016868 76890 150950 324532 6920176 6216689 293132 1117435 610388 7016868 5207164 515661 778839 284975 6216689 5873448 370452 -785347 251499 5207164 0.83200 0.08850 0.07950 0 0 191651 191651 9463805 3976288 5487517 1782062 1578783 203279 800511 492984 307527 6189974 X 6861275 865196 45349 910545 5950730 30384 387886 418270 6369000 4950806 45349 45349 4905457 30384 387886 418270 5323727 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 2013 OR 2012. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES - LINE 6B 45,349. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSIONS 387,886. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES - LINE 6B 45,349. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSIONS 387,886. FORM 990, SCHEDULE D, PART V, LINE 4, THE PURPOSE OF THE ENDOWMENT FUND IS TO ASSIST THE SCHOOL IN MAINTAINING FINANCIAL STABILITY. THE MAIN FUNCTION OF THE ENDOWMENT FUND IS THE HELP MINIMIZE TUITION INCREASES THAT MIGHT OTHERWISE BE REQUIRED AS EDUCATIONAL COSTS RISE. 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 THE FOLLOWING STATEMENT IS INCLUDED IN THE ANNUAL BROCHURE: GULF STREAM DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR OR NATIVE ORIGINS IN ITS ADMISSIONS, FINANCIAL AID, EDUCATION, OR ANY OTHER PROGRAM. 1 FINANCIAL AID/TUITION REMISSION 34 387886 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 167512 0 3600 0 0 0 12019 0 18863 0 201994 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 11370 FINCL AID 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 NAICS TO HELP DETERMINE THE HEAD OF SCHOOLS COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.