2012-07-13T14:01:10-05:00 2011-08-31 SIKICH LLP 1415 W DIEHL RD SUITE 400 NAPERVILLE IL 605632349 990 2010-09-01 202059533 NORTHERN KANE EDUCATIONAL CORP NORT 8474645300 900 WESTER BOULEVARD PINGREE GROVE IL 60140 LARRY FUHRER 8474645300 2012-07-11 1 ANDREW TWARDOWSKI 6305668400 2010 2016-02-24 21:20:13Z LARRY FUHRER 900 WESTER BOULEVARD PINGREE GROVE IL 60140 5857899 0 X N/A X 2004 IL TO PROVIDE A HIGH ACHIEVEMENT LEARNING ENVIRONMENT 9 5 71 120 0 0 303405 144511 4309768 5630651 676 458 49176 20716 4663025 5796336 0 0 0 0 2625580 445747 0 0 0 2506191 5753818 5131771 6199565 -468746 -403229 14952107 20060697 12887343 18399162 2064764 1661535 X TO PROVIDE A HIGH ACHIEVEMENT LEARNING ENVIRONMENT WHILE ADDRESSING FINANCIAL, SPACE AND EDUCATIONAL DELIVERY ISSUES WITHIN A RAPIDLY-EXPANDING, LARGE SCHOOL DISTRICT. 1 0 4513655 5349719 CAMBRIDGE LAKES CHARTER SCHOOL PROVIDES DISTRICT 300 FAMILIES WITH AN ALTERNATIVE COMMUNITY SCHOOL CHOICE FOR STUDENTS IN KINDERGARTEN THROUGH EIGHTH GRADE. DURING THE 2011 SCHOOL YEAR, 587 STUDENTS WERE ENROLLED. 791889 170227 CAMBRIDGE LAKES PRESCHOOL OFFERS TUITION-BASED PRESCHOOL FOR 3- AND 4-YEAR-OLDS USING HIGH SCOPE METHODS. MIXED-AGE OFFERING IN COLLABORATION WITH PRESCHOOL FOR ALL, A STATE INITIATIVE. FAMILIES THAT QUALIFY RECEIVE PRESCHOOL PARTICIPATION AT NO COST. THE CHILDREN LEARN FROM ILLINOIS-CERTIFIED EARLY CHILDHOOD TEACHERS. DURING THE 2011 SCHOOL YEAR, 14 THREE YEAR OLDS AND 53 FOUR YEAR OLDS WERE ENROLLED. 44447 102347 SCHOOL'S OUT PROVIDES STUDENTS WITH LEARNING ENRICHMENT FOR CORE SUBJECTS AND OPPORTUNITIES TO EXPLORE ART, MUSIC, TECHNOLOGY, FITNESS AND SPORTS. SCHOOL'S OUT SUMMER FUN PROVIDES A 2-WEEK CAMP EXPERIENCE SIX TIMES DURING THE SUMMER. SCHOOL'S OUT COMMUNITY FUN SERVES ADULTS AND FAMILIES. ENROLLMENT IN THE SCHOOL'S OUT PROGRAM FOR THE 2011 SCHOOL YEAR WAS 143 PARTICIPANTS. 44387 THE CAMBRIDGE ACADEMY 9316 ILLINOIS ON-LINE CHARTER SCHOOL 9273 8358 CAMBRIDGE ADULT ACADEMY 62976 8358 5412967 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 25 0 1 71 1 0 0 0 0 0 0 0 0 0 0 X 9 5 0 1 1 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 1 0 X THE ORGANIZATION 8474645300 900 WESTER BOULEVARD PINGREE GROVE IL 60140 JULIE MAHAFFEY 5.00 X X 0 0 0 STACEY RUIZ 1.00 X 0 0 0 KRISTEN LEHMAN 1.00 X 0 0 0 MOSES MUTUKU 1.00 X 0 0 0 HOLLY BLAIR-CASCIO 57.00 X 27034 15175 4260 RICHARD RAAB 24.50 X 13520 11640 4260 KAREN BEHRNS 58.00 X 46696 21867 4260 TRACY WAHL 55.00 X 36000 18333 4260 LARRY FUHRER 128.00 X X 0 0 0 TOM HAY 5.00 X 0 0 0 SYLVIA POLLETTA 50.00 X X 48999 0 4260 MARG BOGNER 30.00 X 24600 0 2860 DAWN MUHAMMAD 40.00 X 2000 0 0 198849 67015 24160 0 0 0 0 LINCOLN EDUCATORS COOPERATIVE 3831 MCCOY DRIVE SUITE 109 AURORA IL 60504 PROVIDE CERTIFICATED WORKERS 2679575 HODGES LOIZZI EISENHAMMER RODICK AND 3030 SALT CREEK LANE STE 202 ARLINGTON HEIGHTS IL 60005 LEGAL FEES 124700 PRESIDENTIAL SERVICES LTD 3831 MCCOY DRIVE SUITE 109 AURORA IL 60504 MANAGEMENT & SUPPORT SERVICES; CEO 120000 3 136000 8511 7326 144511 CHARTER SCHOOL TUITION 900099 5069824 5069824 PRESCHOOL TUITION 900099 169818 169818 REGISTRATION FEES 900099 121037 121037 SCHOOL'S OUT PROGRAM 900099 102347 102347 LUNCH FEES 900099 100611 100611 67014 67014 5630651 458 458 72818 61563 11255 11255 6525 6525 6525 MISCELLANEOUS INCOME 900099 2936 2936 2936 5796336 5630651 0 21174 121246 13538 107708 239611 130572 109039 52562 25091 27471 32328 11615 20713 94279 94279 37565 37565 2989865 2800726 189139 23644 8755 14889 155321 136638 18683 36821 2347 34474 965726 960128 5598 696931 681823 15108 73684 13151 60533 REPAIRS AND MAINTENANCE 295959 278612 17347 SUPPLIES 156941 142278 14663 LUNCH 109006 108051 955 FIELDTRIP AND EVENT EXP 51527 51527 SUBSCRIPTIONS AND SOFTW 38467 33161 5306 28082 14954 13128 6199565 5412967 786598 0 220415 694942 1239693 1389355 20000 23221 100385 20228 18139063 2952585 12408349 15186478 963265 2746473 14952107 20060697 188214 221499 108409 148662 11720313 17737604 870407 0 291397 12887343 18399162 X 2027596 1639461 37168 22074 2064764 1661535 14952107 20060697 -403229 0 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1800000 1800000 11220470 1726606 9493864 1622777 967021 655756 3495816 258958 3236858 15186478 BOND ISSUANCE COST 227242 BOND PROCEEDS HELD IN TRUST 2513147 ACCRUED INTEREST RECEIVABLE 29 EMPLOYEE RECEIVABLE 6055 2746473 ACCRUED INTEREST 291397 291397 5796336 6199565 -403229 0 -403229 5857899 61563 61563 5796336 0 5796336 6261128 61563 61563 6199565 0 6199565 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE NONPROFIT CORPORATION ADOPTED THE AUTHORITATIVE GUIDANCE ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS NOT BEEN MET. THIS GUIDANCE ALSO ADDRESSES DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE, AND TRANSITION. THE NONPROFIT CORPORATION CONDUCTS BUSINESS SOLELY IN THE U.S. AND, AS A RESULT, FILES INCOME TAX RETURNS FOR U.S. AND ILLINOIS. IN THE NORMAL COURSE OF BUSINESS, THE NONPROFIT CORPORATION IS SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. THE NONPROFIT CORPORATION'S TAX RETURNS FOR YEARS SUBSEQUENT TO FISCAL 2007 ARE OPEN, BY STATUTE, FOR REVIEW BY AUTHORITIES. HOWEVER, AT PRESENT, THERE ARE NO ONGOING INCOME TAX AUDITS OR UNRESOLVED DISPUTES WITH THE VARIOUS TAX AUTHORITIES THAT THE NONPROFIT CORPORATION CURRENTLY FILES OR HAS FILED WITH. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT DIRECT EXPENSE 61,563. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT DIRECT EXPENSE 61,563. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE ILLINOIS STATE BOARD OF EDUCATION AWARDED TWO GRANTS TO NORTHERN KANE IN THE AMOUNTS OF $108,000 AND $28,000. BOOKFAIR 12958 12958 10187 SCRIP 8741 8741 8112 21 51119 51119 43264 72818 72818 61563 61563 11255 VILLAGE OF LAKE IN THE HILLS 366009195 510021AJ7 2007-06-13 1600000 TO FURNISH CLASSROOMS AND OFFICES AT CAMBRIDGE LAKES LEARNING CENTER 0 0 0 VILLAGE OF PINGREE GROVE 361188432 72342PAA8 2007-01-23 10565000 TO CONSTRUCT SCHOOL BUILDINGS 0 0 0 VILLAGE OF PINGREE GROVE 361188432 72342PAC4 2011-07-06 6400000 TO CONSTRUCT AND FURNISH SCHOOL BUILDINGS 0 0 0 1600000 32000 1568000 2007 0 0 1 1 10565000 811280 147635 9606085 2007 0 0 1 1 6400000 1701867 84177 4613956 2011 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PRESIDENTIAL SERVICES LTD THE OWNER OF PRESIDENTIAL SERVICES, LTD. IS ALSO THE CEO OF NKEC 120000 PROVIDED MANAGEMENT AND SUPPORT SERVICES TO NKEC AS THE CEO OF NKEC 0 LINCOLN EDUCATORS COOPERATIVE PSLTD IS THE SOLE SHAREHOLDER OF LEC 2679575 LEC PROVIDES PERSONNEL SERVICES AS CERTIFICATED PERSONNEL ARE LEASED FROM LEC BY NKEC. 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 THE CAMBRIDGE ACADEMY PROVIDES A BLENDED LEARNING OPPORTUNITY USING RESOURCES OF THE CAMPUS AND THE ON-LINE CAPABILITY OF K12 MANAGEMENT, INC. ILLINOIS ON-LINE CHARTER SCHOOL IS IN PROCESS WITH K12 MANAGEMENT, INC. FORM 990, PART VI, SECTION A, LINE 3 THE CEO FOR NORTHERN KANE IS AN INDEPENDENT CONTRACTOR. DUTIES OF THE CEO INCLUDE HIRING, FIRING, SUPERVISING PERSONNEL, BUDGETING, SUPERVISING FINANCIAL OPERATIONS, STRATEGIC PLANNING AND FUNDRAISING. THE CEO ALSO SERVES AS THE LIASON WITH INVESTMENT BANKERS, BOND TRUSTEE, ATTORNEYS, AND ACCOUNTANTS. FORM 990, PART VI, SECTION A, LINE 4 THE BY-LAWS WERE CHANGED DURING FY2011 TO CREATE THE POSITION OF VP HEAD OF SCHOOLS WHICH IS AN EX-OFFICIO POSITION. FORM 990, PART VI, SECTION B, LINE 11 LARRY FUHRER, CEO REVIEWS ALL SCHEDULES. AFTER A DRAFT OF THE 990 IS RECEIVED, IT WILL BE DISTRIBUTED TO THE BOARD FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND OFFICERS ARE COVERED UNDER THE POLICY. DIRECTORS AND OFFICERS HAVE BEEN INSTRUCTED FROM THE BEGINNING OF THE CORPORATION TO DISCLOSE AS THEY OCCUR ANY CONFLICTS OF INTEREST. THE BOARD MONITORS POTENTIAL CONFLICTS BETWEEN MEMBERS AND OTHER ENTITIES. NEW VENDORS OR TRANSACTIONS ARE SCREENED FOR POSSIBLE CONFLICTS. THE ROLES OF OFFICERS AND DIRECTORS IN OUTSIDE INTERESTS ARE ALSO MONITORED FOR POTENTIAL CONFLICT. AN INTERESTED PARTY CANNOT VOTE ON A TRANSACTION. THERE IS NO LIMIT TO THE AMOUNT OF A TRANSACTION; ALL ARE APPROVED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 15B THE CEO DETERMINES COMPENSATION OF OFFICERS BY USING RUBRICS TO EVALUATE STAFF AND PAY IS BASED ON THE RESULTS OF THE EVALUATIONS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.