2013-02-15T13:03:13-06:00 2012-06-30 651083521 HOLYFIELD & THOMAS LLC 125 BUTLER STREET WEST PALM BEACH FL 33407 990 2011-07-01 591276282 THE PINE SCHOOL INC PINE 7726757005 12350 SE FEDERAL HIGHWAY HOBE SOUND FL 33455 MICHAEL BAUM 7726757005 2013-02-11 1 DAVID J THOMAS P00002419 5616896000 X 2011 2016-02-25 16:41:14Z MICHAEL BAUM 12350 SE FEDERAL HIGHWAY HOBE SOUND FL 33455 37971547 0 X WWW.THEPINESCHOOL.ORG X 1969 FL THE PINE SCHOOL, INC. IS A NON-PROFIT , NONDENOMINATIONAL DAY SCHOOL PROVIDING A COLLEGE PREPARATORY EDUCATION TO CHILDREN AGES 3 YEARS OLD THROUGH GRADE 12. 25 25 109 350 -549 0 514222 515362 5828500 6431688 4885 -289535 1206074 931828 7553681 7589343 0 0 0 0 4769094 5090445 0 0 84891 5016099 4674748 9785193 9765193 -2231512 -2175850 32745093 1637789 31394590 2540494 1350503 -902705 X THE MISSION OF THE PINE SCHOOL IS TO PROMOTE ACADEMIC EXCELLENCE WITHIN A CHALLENGING, SUPPORTIVE, AND MORAL ENVIRONMENT THAT FOSTERS THE DEVELOPMENT OF MIND, BODY, AND SPIRIT. 0 0 7021582 6431688 THE PINE SCHOOL IS A COLLEGE PREPARATORY NONSECTARIAN DAY SCHOOL WHICH PROVIDES A SUPERIOR COLLEGE PREPARATORY EDUCATION FOR CHILDREN OF PRE-SCHOOL AGE THROUGH 12TH GRADE BY PROVIDING INSTRUCTION AND STUDENT ACTIVITIES. AVERAGE ENROLLMENT IS OVER 500 STUDENTS. ACCOMPLISHMENTS INCLUDE:TWO SCHOLARSHIP PROGRAMS-THE "PINE SCHOOL SCHOLARSHIP PROGRAM" IS AWARDED TO STUDENTS JUDGED TO BE ACADEMICALLY STRONG. THE "PATRIOT SCHOLARSHIP PROGRAM" IS AWARDED TO STUDENTS OF VETERANS AND QUALIFY ON A FINANCIAL NEEDS BASIS.ACADEMIC PROGRAM-STAFFED BY LEARNING SPECIALISTS THAT DEVELOP A CHILD'S LEARNING PROFILE WHICH INCLUDES THE STUDENT'S STRENGTHS AND NATURAL INTERESTS. THE STUDENT SUPPORT TEAM DEVELOPS A PLAN THAT MATCHES THE STUDENT'S SPECIFIC ACADEMIC ABILITY, DEVELOPMENTAL LEVEL AND INTELLECTUAL POTENTIAL.FINE ARTS PROGRAM-THE PINE SCHOOL IS PASSIONATE ABOUT ARTS EDUCATION. WE BELIEVE THAT EVERY STUDENT WHO ATTENDS OUR SCHOOL SHOULD HAVE A CHANCE TO DEVELOP THEIR ARTISTIC TALENTS. WE ENCOURAGE CREATIVITY AND COLLABORATION AND WILL CONTINUE TO OFFER OPPORTUNITIES FOR OUR STUDENTS TO CONTRIBUTE TO OUR SCHOOL AND COMMUNITY THROUGH THEIR ARTISTIC EXPRESSIONS.ATHLETIC PROGRAM-THE PINE SCHOOL ATHLETIC PROGRAM EMPHASIZES THE VALUE OF PHYSICAL ACTIVITY, GOOD SPORTSMANSHIP, FITNESS FOR LIFE, AND THE JOY OF ATHLETIC COMPETITION.OTHER EVENTS AND ACCOMPLISHMENTS INCLUDE FOOD FAIRS, BOOK FAIRS, CONCERTS, GOLF TOURNAMENT, FUND RAISING AUCTIONS, ETC. 7021582 1 1 0 0 0 0 1 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 48 0 1 109 1 1 1 0 0 0 0 1 1 0 0 0 0 X 25 25 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 FL X LARRY PITTMAN 7726757005 12350 SE FEDERAL HIGHWAY HOBE SOUND FL 33455 MICHAEL BAUM 4.00 X X 0 0 0 DEBBIE TEXTOR 4.00 X X 0 0 0 MICHAEL DIEGIDIO 4.00 X X 0 0 0 OTTIE MCCULLUM III 2.00 X X 0 0 0 MICHAEL MORTELL 2.00 X 0 0 0 BRIDGET BARATTA 2.00 X 0 0 0 CRIS BRANDON 2.00 X 0 0 0 LESLIE DAVIES 2.00 X 0 0 0 JOHN FREENAN 2.00 X 0 0 0 GREG GARDNER 2.00 X 0 0 0 KATE GILBERT 2.00 X 0 0 0 JEFF HARDIN 2.00 X 0 0 0 JIM HAUSLEIN 2.00 X 0 0 0 DR MARIANNE IRELAND 2.00 X 0 0 0 ROBERT LEIDY 2.00 X 0 0 0 STEPHEN LEIGHTON 2.00 X 0 0 0 JOHN LOESSER 2.00 X 0 0 0 DON MADER 2.00 X 0 0 0 MICHAEL MORTELL 2.00 X 0 0 0 HEATHER POSEY 2.00 X 0 0 0 CHAD QUIST 2.00 X 0 0 0 ALEX RALICKI 2.00 X 0 0 0 MARY REYNOLDS 2.00 X 0 0 0 PAUL SHIRLEY 2.00 X 0 0 0 RAMSEY SMALL 2.00 X 0 0 0 STEPHEN MANDELL 40.00 X 144650 0 14244 LARRY PITTMAN 40.00 X 66739 0 7648 211389 0 21892 1 0 1 0 0 515362 11000 515362 TUITION & FEES REVENUE 611600 6431688 6431688 6431688 7132 7132 25664 29651 -3987 -3987 -3987 29666837 29963504 -296667 -296667 3438 -300105 615784 383604 232180 232180 4983 5445 -462 -462 AUXILIARY INCOME 611710 634765 634765 OTHER REVENUES 611710 69332 69332 704097 7589343 6431688 -549 642842 394396 304122 86630 3644 3971945 3062794 872448 36703 87055 67129 19122 804 304458 234770 66874 2814 332591 256464 73054 3073 20953 20953 25067 25067 31526 31526 903986 903986 860922 860922 241670 241670 TEACHING AND SCHOOL SUP 748713 748713 LUNCH PROGRAM 519881 519881 REPAIRS & MAINTENANCE 415192 373199 41993 ELECTRIC 232850 232850 673988 360738 275397 37853 9765193 7021582 2658720 84891 1 126 1569410 1249599 704854 155373 162203 27905 131391 57074 639155 525123 29950097 114032 227137 33680 32745093 1637789 4105879 350079 2143031 2118473 25050000 40000 95680 31942 31394590 2540494 X 519464 -1159014 831039 256309 1350503 -902705 32745093 1637789 X -2175850 -77358 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 3 50.00 0 26755 15327 11428 95027 9346 85681 517373 500450 16923 114032 LEASES PAYABLE 31942 31942 7589343 9765193 -2175850 -77358 -77358 -2253208 8304710 418700 418700 7886010 -296667 -296667 7589343 10113798 418700 418700 9695098 70095 70095 9765193 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: DURING FISCAL YEAR 2011, THE SCHOOL ADOPTED FASB ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THIS PRONOUNCEMENT SEEKS TO REDUCE THE DIVERSITY IN PRACTICE ASSOCIATED WITH CERTAIN ASPECTS OF MEASUREMENT AND RECOGNITION IN ACCOUNTING FOR INCOME TAXES. IT PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION WHICH AN ENTITY TAKES OR EXPECTS TO TAKE IN A TAX RETURN. AN ENTITY MAY ONLY RECOGNIZE OR CONTINUE TO RECOGNIZE TAX POSITIONS WHICH MEET A "MORE LIKELY THAN NOT" THRESHOLD. THE SCHOOL ASSESSES ITS INCOME TAX POSITIONS BASED ON MANAGEMENT'S EVALUATION OF THE FACTS, CIRCUMSTANCES AND INFORMATION AVAILABLE AT THE REPORTING DATE. THE SCHOOL USES THE PRESCRIBED "MORE LIKELY THAN NOT" THRESHOLD WHEN MAKING ITS ASSESSMENT. AT ADOPTION, THE SCHOOL DID NOT RECORD ANY CUMULATIVE EFFECT ADJUSTMENT, AND THE SCHOOL DID NOT ACCRUE ANY INTEREST EXPENSE OR PENALTIES RELATED TO TAX POSITIONS. THERE ARE CURRENTLY NO OPEN FEDERAL OR STATE TAX YEARS UNDER AUDIT. THERE IS CURRENTLY NO UNRELATED BUSINESS TAXABLE INCOME FOR TAX YEAR 2011. PART XI, LINE 8 - OTHER ADJUSTMENTS: PRIOR PERIOD ADJUSTMENTS TO PREPAID EXPENSES -77,358. UNCOLLECTABLE PLEDGES WRITTEN OFF 0. BAD DEBTS-UNCOLLECTABLE REVENUE 0. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL FUNDRAISING EVENT EXPENSES 383,604. COGS 5,445. RENTAL EXPENSES 29,651. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSITION OF ASSETS -296,667. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL FUNDRAISING EVENT EXPENSES 383,604. COGS 5,445. RENTAL EXPENSES 29,651. PART XIII, LINE 4B - OTHER ADJUSTMENTS: NET PLEDGES DEEMED UNCOLLECTABLE 70,095. 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 SCHOOL PLACES A NEWSPAPER AD PRIOR TO THE REGISTRATION OF THE STUDENTS FOR THE UPCOMING SCHOOL YEAR WHICH INCLUDES A STATEMENT TO THE EFFECT THE ENROLLMENT POLICIES ARE NONDISCRIMINATORY AS TO RACE, CREED, NATIONAL ORIGIN OR GENDER. AUCTION 284464 284464 119892 GOLF TOURN. 15055 15055 6939 7 316265 316265 256774 615784 615784 383605 383605 232179 1 TUITION DISCOUNTS 150 1320862 X 0 0 0 0 0 0 0 0 0 STEPHEN MANDELL 144650 0 0 0 0 0 0 0 14244 0 158894 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE PINE SCHOOL IS A NOT-FOR-PROFIT SCHOOL GOVERNED BY A BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF FORM 990 IS NOT MADE AVAILABLE TO THE BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE GOVERNANCE COMMITTEE AND EXECUTIVE COMMITTEE MONITOR AND ENFORCE THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION LEVELS ARE DETERMINED BY THE BOARD USING THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS COMPENSATION RECORDS AS A BENCHMARK. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENT ETC. AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: PRIOR PERIOD ADJUSTMENTS TO PREPAID EXPENSES -77,358. UNCOLLECTABLE PLEDGES WRITTEN OFF 0. BAD DEBTS-UNCOLLECTABLE REVENUE 0. TOTAL TO FORM 990, PART XI, LINE 5: -77,358. AUDIT REPORT REVIEW PROCESS PART XII LINE 2B THE AUDIT REPORT IS REVIEWED AT THE ANNUAL AUDIT REPORT REVIEW MEETING AS PRESENTED BY THE INDEPENDENT AUDITOR. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. . TAX EXEMPT BOND ISSUE PART IV LINE 24 SETTLEMENT OF BOND AND MORTGAGE OBLIGATIONS AS A RESULT OF LOWER THAN PROJECTED STUDENT ENROLLMENT, THE SCHOOL'S CASH FLOW WAS ADVERSELY AFFECTED SUCH THAT THE SCHOOL CEASED MAKING PRINCIPAL AND INTEREST PAYMENTS AND DEFAULTED ON ITS MORTGAGE AND BOND OBLIGATIONS. DURING THE CURRENT FISCAL YEAR, THE SCHOOL REACHED AN AGREEMENT TO TRANSFER THE LAND, IMPROVEMENTS, AND CERTAIN EQUIPMENT TO AN ENTITY CREATED BY THE MORTGAGE AND BOND HOLDERS IN EXCHANGE FOR THE COMPLETE RELEASE OF ALL OBLIGATIONS UNDER THE MORTGAGE AND BOND AGREEMENTS. THE RESULTS OF THESE TRANSACTIONS ARE REFLECTED IN THESE FINANCIAL STATEMENTS. AS A CONDITION OF THE SETTLEMENT, THE SCHOOL ENTERED INTO LEASING AGREEMENTS WITH THE NEW OWNERSHIP ENTITY. THE LEASE TERMS CALL FOR MONTHLY PAYMENTS IN THE AMOUNT OF APPROXIMATELY $32,000 FOR A PERIOD OF TWO YEARS, TERMINATING ON JUNE 30, 2014. THE LEASE ALSO GRANTS THE SCHOOL AN OPTION DURING THE LEASE TERM TO MATCH ANY PURCHASE OFFER OF THE TRANSFERRED ASSETS MADE TO THE NEW OWNERSHIP ENTITY. A DETAILED RECONCILIATION SCHEDULE OF SETTLEMENT DESCRIBED ABOVE IS AVAILABLE UPON REQUEST. NUMBER OF VOLUNTEERS PAGE 1 LINE 6 THE NUMBER OF VOLUNTEERS (350) DOES NOT INCLUDE THE NUMBER OF UNCOMPENSATED MEMBERS OF THE BOARD. THEY ARE SHOW SEPARATELY ON PAGE ONE AND LABELED INDEPENDENT MEMBERS OF THE BOARD.