2012-05-15T12:51:30-05:00 2011-06-30 LINK MURREL & CHANG LLP 18831 BARDEEN AVENUE STE 200 IRVINE CA 926121520 990 2010-07-01 330488250 THE YOUNG AMERICANS INC YOUN 9514936753 1132 OLYMPIC DRIVE CORONA CA 92881 CAMERON COY 9514936753 2012-05-15 1 CRAIG W MURREL 9492611120 2012-05-14 2010 2016-02-24 21:20:13Z X THE YOUNG AMERICANS CAMERON COY 1132 OLYMPIC DRIVE CORONA CA 92881 2985610 0 X WWW.YOUNGAMERICANS.ORG X 1992 CA TO PROVIDE CLASSES IN THE PERFORMING ARTS TO YOUNG PERFORMERS. FORMED TO BRING AN HONEST AND HEALTHY IMAGE OF AMERICAN YOUTH TO THE NATION AND TO ALL PEOPLE THROUGHOUT THE WORLD. 7 6 28 5 0 0 265453 196766 2492993 2795133 21948 16619 27032 -22908 2807426 2985610 0 0 0 0 626249 953820 0 0 0 2375727 2204672 3001976 3158492 -194550 -172882 2522538 2434493 164719 124666 2357819 2309827 TO PROVIDE CLASSES IN THE PERFORMING ARTS TO YOUNG PERFORMERS. FORMED TO BRING AN HONEST AND HEALTHY IMAGE OF AMERICAN YOUTH TO THE NATION AND TO ALL PEOPLE THROUGHOUT THE WORLD. 0 0 2045236 2127020 OUTREACH TOURS: THE STUDENT MEMBERS TRAVEL TO "HOST SCHOOLS" AND PUT ON A THREE-DAY WORKSHOP FOR ELEMENTARY, JUNIOR HIGH AND HIGH SCHOOL LEVEL STUDENTS (THE "PARTICIPANTS"). THE STUDENT MEMBERS TEACH THE PARTICIPANTS SONG AND DANCE NUMBERS. AT THE CONCLUSION OF THE WORKSHOP, THE STUDENT MEMBERS AND THE PARTICIPANTS PERFORM TOGETHER IN A SHOW. 722228 668113 COLLEGE PROGRAM: THE ORGANIZATION OPERATES AN UNACCREDITED COLLEGE FOR ITS STUDENT MEMBERS. FORMED AS A SPECIALTY SCHOOL, THE COLLEGE BLENDS THE CONCEPTS OF THEORETICAL LEARNING WITH PRACTICAL APPLICATION, CONCENTRATED IN THE PERFORMING ARTS. THE TWO-YEAR PROGRAM OF STUDY CULMINATES IN THE AWARDING OF A PERFORMANCE CERTIFICATE. THE STUDENT MEMBERS PAY TUITION, RENT AND UTILITIES TO THE ORGANIZATION TO PARTICIPATE IN THE COLLEGE BASED UPON THEIR LEVEL OF COURSE ENROLLMENT. 2767464 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 80 0 28 1 0 1 UK GM 0 0 0 0 0 0 0 0 0 X 7 6 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 1 0 CA X CO CAMERON COY 9514936753 1132 OLYMPIC DRIVE CORONA CA 92881 WILLIAM H KERRY X X 0 0 0 ANDREW GARCIA X X 0 0 0 ANDREW MCGARITY X 0 0 0 CAMERON COY 8.00 X X 44100 0 0 PHIL LISLE X 0 0 0 VANESSA BROWN X 0 0 0 SUSAN JOHNSON X 0 0 0 MILTON C ANDERSON 40.00 X 65500 0 0 WILLIAM BRAWLEY 40.00 X 112176 0 0 221776 0 0 1 0 0 0 0 196766 196766 TOURS 711190 1719656 1719656 TUITION & FEES 711190 668113 668113 SHOW INCOME 711190 344232 344232 MERCHANDISE SALES 711190 63132 63132 2795133 16619 16619 MISCELLANEOUS 900099 -22908 -22908 -22908 2985610 2772225 0 16619 114325 65500 48825 774741 607261 167480 64754 46088 18666 300 300 48039 48039 318982 318982 45674 45674 161120 142246 18874 784827 784827 152665 135487 17178 136698 87291 49407 EQUIPMENT RENTAL 111816 111816 CHRISTMAS SHOW EXPENSE 72134 72134 UTILITIES 44985 44985 ACCRUAL TO CASH ADJUSTM 44585 44585 MISCELLANEOUS 43037 39075 3962 239810 221213 18597 3158492 2767464 391028 0 2120069 1873537 195679 40833 29680 36847 580795 322850 330340 257945 31296 40805 2522538 2434493 109490 164719 15176 164719 124666 X 2357819 2299827 10000 2357819 2309827 2522538 2434493 X -172882 124890 X X 0 1 1 X 0 X 124756 164841 255321 265453 196766 1007137 1892754 2216048 2896689 2520025 3449962 12975478 2017510 2380889 3152010 2785478 3646728 13982615 0 78032 122667 61617 52974 315290 78032 122667 61617 52974 315290 13667325 52177 65380 43056 21948 16619 199180 52177 65380 43056 21948 16619 199180 127094 27032 154126 2069687 2446269 3322160 2834458 3663347 14335921 0.95340 0.94270 0.01390 0.01640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 164888 155359 9529 316117 127528 188589 99790 39963 59827 257945 SECURITY DEPOSITS 10241 DEFERRED RENT 4935 15176 2985610 3158492 -172882 80305 44585 124890 -47992 2985610 0 2985610 0 2985610 3113907 -44585 -44585 3158492 0 3158492 PART XI, LINE 8 - OTHER ADJUSTMENTS: ACCRUAL TO CASH ADJUSTMENT 44,585. PART XI, LINE 7, PRIOR PERIOD ADJUSTMENT OF $80,305 TO RECONCILE FUND BALANCES TO ACTUAL. PART XI, LINE 8, OTHER ADJUSTMENT OF $44,585: THIS IS AN ACCRUAL TO CASH ADJUSTMENT (SEE SCHEDULE O, EXPLANATION TO FORM 990, PART XI, LINE 5). PART X, LINE 2: FIN 48 FOOTNOTE DISCLOSURE. THE YOUNG AMERICANS, INC. FOLLOWS THE PROVISIONS OF FASB ASC 740 WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN A NONPUBLIC ENTITY'S FINANCIAL STATEMENTS. IT DETAILS HOW ENTITIES SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE UNCERTAIN TAX POSITIONS THAT HAVE BEEN OR ARE EXPECTED TO BE TAKEN. AS SUCH, FINANCIAL STATEMENTS WILL REFLECT EXPECTED FUTURE TAX CONSEQUENCES OF UNCERTAIN TAX POSITIONS PRESUMING THE TAXING AUTHORITIES' FULL KNOWLEDGE OF THE POSITION AND ALL RELEVANT FACTS. THERE WAS NO IMPACT TO THE YOUNG AMERICANS INC.'S FINANCIAL STATEMENTS AS A RESULT OF FASB ASC 740. ENGLAND 0 0 PROGRAM SERVICES OUTREACH TOURS 227000 GERMANY 0 0 PROGRAM SERVICES OUTREACH TOURS 504000 JAPAN 0 0 PROGRAM SERVICES OUTREACH TOURS 9000 0 0 0 740000 0 740000 0 0 0 0 0 0 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: THE ACCRUAL METHOD WAS USED TO ACCOUNT FOR EXPENDITURES. ANDREW MCGARITY BOARD MEMBER 14800 ANDREW'S SPOUSE SERVED AS A VOICE TEACHER FOR THE ORGANIZATION. 0 DISCLOSURE REGARDING EXPLANATION OF PROGRAMS: FORM 990, PART III, LINE 4: PLEASE NOTE THAT THE EXPLANATIONS ON LINE 4 ARE NOT NEW PROGRAMS. THEY ARE AN EXPANSION OF THE EXPLANATION PROVIDED IN PRIOR YEARS' RETURNS. FORM 990, PART VI, SECTION A, LINE 2 FAMILY & BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 A FINAL DRAFT OF THE 990 WAS CIRCULATED TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CFO, AND MEMBER OF THE BOARD, REGULARLY REVIEWS ALL MATERIAL TRANSACTIONS IN WHICH THE ORGANIZATION BECOMES INVOLVED TO IDENTIFY ANY POTENTIAL TRANSACTIONS THAT MAY FALL WITHIN THE CONFLICT POLICY AND TO ENSURE THAT THERE ARE NO TRANSACTIONS THAT HAVE NOT BEEN IDENTIFIED AND DISCLOSED PURSUANT TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 15B COMPENSATION OF ALL EMPLOYEES IS ESTABLISHED BY THE CEO AND THOSE FOR HIGH LEVEL EMPLOYEES ARE SUBJECT TO REVIEW BY THE CFO, AND THE BOARD, WHERE NECESSARY FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS AND STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: PRIOR PERIOD ADJUSTMENTS: 80,305. ACCRUAL TO CASH ADJUSTMENT 44,585. TOTAL TO FORM 990, PART XI, LINE 5: 124,890. ACCRUAL TO CASH ADJUSTMENT: FORM 990, PART XII, LINE 1 AUDITED FINANCIAL STATEMENTS WERE PREPARED FOR THE YOUNG AMERICANS, INC. ("THE ORGANIZATION") BASED ON THE ACCRUAL METHOD. IN ADDITION, THE ORGANIZATION'S BOOKS WERE ALSO CHANGED TO THE SAME ACCOUNTING METHOD. IN ORDER TO COMPLY WITH THE CASH BASIS REPORTING FOR TAX PURPOSES, A NET ACCRUAL TO CASH ADJUSTMENT OF $-44,585 HAS BEEN REFLECTED IN THE RETURN (SEE STATEMENT OF FUNCATIONAL EXPENSES, LINE 24 AND "RECONCILIATION OF CHANGE IN NET ASSETS"). FORM 990, PART XII, LINE 2C: THE PROCESS HAS REMAINED THE SAME AS IN THE PRIOR YEAR.