2012-11-07T08:56:26-06:00 2012-06-30 LEATHERBURY & BROACHE & CO PC 23307 COURTHOUSE AVE ACCOMAC VA 23301 990 2011-07-01 540799130 BROADWATER ACADEMY BROA 7574429041 PO BOX 546 EXMORE VA 23350 ROBERT SAVAGE 7574429041 2012-10-23 true ROBERT W LEATHERBURY 7577874444 2012-11-07 2011 2016-02-24 21:20:13Z ROBERT SAVAGE PO BOX 546 EXMORE VA 23350 3965511 false X BROADWATERACADEMY.ORG X 1965 VA SEE STATEMENT ATTACHED X 15 15 87 0 219700 303500 3041946 2833333 15371 -29257 32777 21165 3309794 3128741 0 246616 233050 2324507 2401639 51108 75340 790071 1071164 3361194 3756961 -51400 -628220 5067958 3950952 587346 1137652 4480612 2813300 SEE STATEMENT ATTACHED false false 2721570 EDUCATIONAL INSTRUCTION AND SERVICES PROVIDED TO APPROXIMATELY 415 STUDENTS. SERVICES INCLUDE BUS TRANSPORTATION, ATHLETICS AND OTHER EXTRACURRICULAR ACTIVITIES. 233050 TUITION GRANTS AND SCHOLARSHIPS ARE USED TO ASSIST STUDENTS IN ATTENDING THE ACADEMY WHEN THEY WOULD OTHERWISE NOT BE FINANCIALLY ABLE TO DO SO. APPROXIMATELY 120 STUDENTS BENEFIT DIRECTLY EACH YEAR. 2954620 true true false false false false false false false true true false false false true false true true true false false false false true true false false false false false false false false false false false false false false false false true false false false false false false true 4 0 true 87 true false false false false false true true false false false false false false X 15 15 false false false false false false false true true false false false true false false false false true false false X BUSINESS MANAGER 7574429041 PO BOX 546 EXMORE VA 23350 X LUKE KELLAM 2.00 X X 0 0 0 CATHY RIOPEL 2.00 X X 0 0 0 TOM HILL JR 2.00 X X 0 0 0 KEVIN K KELLAM 2.00 X 0 0 0 BERT TURNER 2.00 X 0 0 0 JOHN T WILLIAMS 2.00 X 0 0 0 ROBERTA KELLAM 2.00 X 0 0 0 EDWARD A AMES IV 2.00 X X 0 0 0 ELLIE GORDON 2.00 X 0 0 0 LINDA MITCHELL 2.00 X 0 0 0 MJ GOLIBART 2.00 X 0 0 0 LAURA NEAL 2.00 X 0 0 0 TONYA TANKARD 2.00 X 0 0 0 JEREMY MCLEAN 40.00 X 140625 0 0 140625 1 false false false 13992 289508 303500 TUITION AND OTHER SCHOOL FEES 2833333 2833333 2833333 11438 11438 2380 2380 2380 2380 782308 823003 -40695 -40695 -40695 21083 10500 13767 7316 OTHER INCOME 11469 11469 11469 3128741 2795018 22907 233050 233050 2033248 1506314 526934 27936 21231 6705 175225 131139 44086 165230 124919 40311 4191 4191 18400 18400 51108 51108 8116 4058 4058 72580 36359 35987 234 21159 21159 161605 145445 16160 26584 26584 13419 11764 1655 8286 8286 173128 165735 7393 29993 27030 2963 PROVISION FOR DOUBTFUL AC 217294 217294 INSTRUCTIONAL COSTS 143070 143070 SCHOOL BUS EXPENSES 59611 59611 ATHLETICS COST 49883 49883 63845 38657 5248 19940 3756961 2954620 727001 75340 416363 201663 382729 188842 6431642 3384787 2882950 3046855 1195258 350287 190658 163305 5067958 3950952 231861 201627 147145 657437 1079 207261 278588 587346 1137652 X 4060285 2649995 151611 78731 268716 84574 4480612 2813300 5067958 3950952 X -628220 -1039092 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false 1195724 1733 -27274 817339 2557 350287 1012007 2465 215019 31170 2597 1195724 988091 11901 114625 56479 43521 2610 1012007 1.00000 true false false 153098 153098 5391080 2679678 2711402 887464 705109 182355 3046855 S/T NOTE PAYABLE 215000 CAPITAL LEASES 63588 LINE OF CREDIT 278588 3128741 3756961 -628220 -628220 3128741 3128741 3128741 3756961 3756961 3756961 true true true true true true true false false false false false false false false false false true X X X X X true THE CURTIS GROUP 2512 SHEPHERDS LANE VIRGINIA BEACH VA 23454 CONSULTING false 32300 50359 -18059 32300 50359 -18059 GALA FUNDRAISER 31583 10500 21083 13767 31583 10500 21083 13767 13767 7316 CASH 2012-06-25 1041232 US VALUE 455245398 BROADWATER ACADEMY FOUNDATION 3500 BROADWATER ROAD PO BOX 546 EXMORE VA 23350 501(C)(3) true false false false DETAIL SCHEDULE N PART II PAGE 2 LINE 2E THE ORGANIZATIONS CURRENT GOVERNING BOARD HAS APPOINTED CERTAIN OF ITS BOARD MEMBERS TO SERVE AS BOARD DIRECTORS OF THE NEWLY FORMED NON PROFIT CORPORATION WHERE ASSETS HAVE BEEN TRANSFERED THE CURRENT GOVERNING BOARD MEMBERS THAT WILL SERVE ON THE NEW CORPORATIONS BOARD ARE AS FOLLOWS 1 MR LUCIUS KELLAM III CHAIR 2 MRS ELIZABETH GORDON 3 MR EDWARD AMES IV TREASURER 4 MR MARTIN J GOLIBART 5 MRS LAURA NEAL 6 MR THOMAS HILL JR ADDITIONAL INFORMATION SCHEDULE N SEE SCHEDULE O FOR DESCRIPTION RELATED TO FORM 990 PART XI LINE 5 THIS DESCRIPTION EXPLAINS THE REASON FOR THE TRANSFER OF ASSETS ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B FINANCE COMMITTEE MEMBERS HAVE THE OPPORTUNITY TO REVIEW THE TAX RETURN COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A DUTY OF THE FINANCE COMMITTEE AND BOARD OF DIRECTORS TO APPROVE COMPENSATION FOR HEADMASTER, CEO AND EMPLOYEES OF THE SCHOOL. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC OTHER CHANGES IN NET ASSETS EXPLANATION FORM 990, PART XI, LINE 5 DURING THE YEAR THE ORGANIZATION TRANSFERED 1,041,232 TO A NEWLY FORMED NON-PROFIT CORPORATION, BROADWATER ACADEMY FOUNDATION, IN ORDER TO RAISE, MANAGE, AND DISTRIBUTE FUNDS SOLELY FOR THE BENEFIT OF THE STUDENTS OF BROADWATER ACADEMY. THIS CORPORATION IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE WHICH OPERATES FOR THE BENEFITS OF BROADWATER ACADEMY, A COLLEGE PREPARATORY SCHOOL THAT IS A SECTION 509(A)(1) ORGANIZATION. FURTHERMORE, THIS NEW CORPORATION MAY ALSO HOLD AND MANAGE REAL PROPERTY ON BEHALF OF OR FOR THE BENEFIT OF BROADWATER ACADEMY. EACH BOARD MEMBER OF THIS NEW CORPORATION SHALL BE APPOINTED BY THE BROADWATER ACADEMY BOARD OF DIRECTORS.