2011-02-24T15:43:58-06:00 2010-06-30 LaPORTE SEHRT ROMIG & HAND CPAs 5100 VILLAGE WALK SUITE 300 COVINGTON LA 70433 990 2009-07-01 202024597 CHOICE FOUNDATION A NON-PROFIT CORP DBA Lafayette Academy Charter School CHOI 5048618370 940 GRAVIER ST NEW ORLEANS LA 70112 SANDY VILLERE 5048618370 2011-02-04 1 Bruce S Prendergast MS CPA 9858925850 2009 2016-02-24 21:20:13Z LAFAYETTE ACADEMY CHARTER SCHOOL SANDY VILLERE 940 GRAVIER ST NEW ORLEANS LA 70112 8309771 0 X WWW.LAFAYETTEACADEMYNO.ORG X 2004 LA PREPARE STUDENTS FOR SUCCESS IN A COLLEGE PREPARATORY HIGH SCHOOL IN AN ATMOSPHERE THAT CHALLENGES AND SUPPORTS EACH STUDENT TO ACHIEVE HIS OR HER HIGHEST POTENTIAL. 16 16 123 124 0 0 8533812 8218825 0 13596 28188 86878 62222 8634286 8309235 0 0 5925353 6398163 0 0 2816933 2853896 8742286 9252059 -108000 -942824 3101130 2228514 599541 669749 2501589 1558765 PREPARE STUDENTS FOR SUCCESS IN A COLLEGE PREPARATORY HIGH SCHOOL IN AN ATMOSPHERE THAT CHALLENGES AND SUPPORTS EACH STUDENT TO ACHIEVE HIS OR HER HIGHEST POTENTIAL. 0 0 8523648 PREPARE ITS STUDENTS FOR SUCCESS IN A COLLEGE PREPARATORY HIGH SCHOOL IN AN ATMOSPHERE THAT CHALLENGES AND SUPPORTS EACH STUDENT TO ACHIEVE HIS OR HER HIGHEST POTENTIAL. The school had approximately 780 students. 8523648 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 1 123 1 0 0 0 0 0 0 0 0 0 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JAMES FULTON 5048618370 2727 S CARROLLTON AVENUE NEW ORLEANS LA 70118 JANET BEAN 5.00 X 0 0 0 DON BEERY 5.00 X 0 0 0 Joseph STOREY CHARBONNET 5.00 X 0 0 0 SUSIE DE RUSSEY 5.00 X 0 0 0 ROBERT EVANS 5.00 X 0 0 0 BILLY FITZGERALD 5.00 X 0 0 0 WILLIAM GOLIWAS 5.00 X 0 0 0 BRIAN GIBBS 5.00 X 0 0 0 FRITZ GOMILA 5.00 X 0 0 0 JAMES HUGER 5.00 X X 0 0 0 WENDY LODRIG 5.00 X 0 0 0 STEVE SERIO 5.00 X X 0 0 0 JIM SWANSON 5.00 X X 0 0 0 St Denis Villere III 5.00 X X 0 0 0 Kevin Kane 5.00 X 0 0 0 Matthew Miller 5.00 X 0 0 0 CHARLES LANDRY 40.00 X 199000 0 11260 James Fulton 40.00 X 91900 0 10072 199000 0 11260 1 0 1 0 TRSL PO Box 94123 Baton Rouge LA 70804 Retirement Benefits 701404 Blue Cross of Louisiana PO Box 261798 Baton Rouge LA 70826 Health Insurance 519499 SODEXHO INC & AFFILIATES PO BOX 536922 ATLANTA GA 30353 FOOD SERVICES 519150 BLUE DIAMOND TOURS PO BOX 791741 NEW ORLEANS LA 70119 STUDENT TRANSPORTATION SERVICES 397475 4 8138754 80071 8218825 28188 28188 1072 536 536 536 OTHER INCOME 533110 61686 61686 61686 8309235 61686 0 28724 210260 210260 4871782 4576466 295316 734812 695442 39370 484661 408424 76237 96648 91561 5087 371756 371756 1344 1344 27450 27450 715264 680262 35002 21844 16654 5190 64777 30878 33899 14109 14109 2804 2344 460 1268 1268 658863 658863 3869 3869 SCHOOL EXPENSES 164018 164018 UTILITIES 149238 149238 Bad Debt Expense - Gran 141655 141655 STUDENT ACTIVITIES 126009 126009 PROFESSIONAL DEVELOPMEN 125036 125036 264592 212568 52024 9252059 8523648 728411 0 461654 429442 325427 340150 1225103 637473 45790 21511 27075 80213 1820056 1100331 1016081 719725 3101130 2228514 192384 230014 10000 397157 439735 599541 669749 X 2495969 1522517 5620 36248 2501589 1558765 3101130 2228514 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 860060 536015 324045 959996 564316 395680 719725 ACCRUED EXPENSES 439735 439735 8309235 9252059 -942824 0 -942824 8309235 0 8309235 0 8309235 9252059 0 9252059 0 9252059 Part X: Description of Uncertain Tax Positions Under FIN 48: On July 1, 2009, the School adopted the provisions of the Accounting for Uncertainty in Income Taxes Topic of the FASB ASC. As a result of this adoption, the School believes there was no impact on the statement of financial position or statement of activities and did not record any adjustment to the beginning balance of net assets. The Schools 2007 and 2008 tax returns were filed appropriately. As of November 12, 2010, the School had not filed their 2009 tax return. The School recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. The Schools tax filings are subject to audit by various taxing authorities. The Schools open audit periods are 2006 through 2009. Management has evaluated the Schools tax position and concluded that the School has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. 1 1 1 LAFAYETTE ACADEMY IS A PULIC CHARTER SCHOOL AND AS SUCH ABIDES BY THE NONDISCRIMINATION POLICY ADOPTED BY THE LOUISIANA DEPARTMENT OF EDUCATION BY PUBLICIZING ITS RACIALLY NONDISCRIMINATORY POLICY DURING THE REGISTRATION PERIOD THROUGH PRINT AND RADIO ADVERTISEMENTS TO MAKE THE POLICY KNOWN TO ALL PARTS OF THE GENERAL COMMUNITY. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 THE UNITED STATES DEPARTMENT OF EDUCATION AWARDED A GRANT TO LOUISIANA DEPARTMENT OF EDUCATION, WHICH WAS AWARDED TO THE SCHOOL AS A SUBRECIPIENT, TO HELP ENSURE THAT ALL CHILDREN MEET CHALLENGING STATE ACADEMIC STANDARDS, TO SUPPORT THE PLANNING, DEVELOPMENT AND INITIAL IMPLEMENTATION OF CHARTER SCHOOL, TO ASSIST IN PROVIDING FREE APPROPRIATE PUBLIC EDUCATION TO ALL CHILDREN WITH DISABILITIES AND TO INCREASE STUDENT ACADEMIC ACHIEVEMENT THROUGH STRATEGIES SUCH AS IMPROVING TEACHER AND PRINCIPAL QUALITY AND INCREASING THE NUMBER OF HIGHLY QUALIFIED TEACHERS, PRINCIPALS, AND ASSISTANT PRINCIPALS. THE UNITED STATES DEPARTMENT OF AGRICULTURE AWARDED A GRANT UNDER THE NATIONAL SCHOOL LUNCH PROGRAM.THE STATE OF LOUISIANA PROVIDES FUNDING WHICH IS DETERMINED ON AN ANNUAL BASIS BASED ON THE NUMBER OF PUPILS ENROLLED IN THE SCHOOL AS OF OCTOBER 1ST. THIS STATE FUNDED, PER PUPIL ALLOCATION, IS BASED ON THE MOST RECENTLY APPROVED MINIMUM FOUNDATION PROGRAM FORMULA RESOLUTION. 1 X X 0 0 0 0 0 0 0 0 0 CHARLES LANDRY 199000 0 0 0 0 0 0 0 11260 0 210260 0 0 0 Form 990, Part VI, Section B, line 11 THE TAX PREPARERS PROVIDE A DRAFT COPY OF THE FORM 990 TO THE BUSINESS MANAGER TO PRESENT TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. AFTER APPROVAL, THE TREASURER SIGNS THE RETURN AND ALLOWS THE TAX PREPARERS TO RELEASE IT TO THE IRS. Form 990, Part VI, Section B, line 12c ON AN ANNUAL BASIS, THE BUSINESS MANAGER REQUESTS THAT OFFICERS, DIRECTORS, AND OTHER KEY EMPLOYEES DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. Form 990, Part VI, Section B, line 15 THE PRINCIPAL'S COMPENSATION IS DETERMINED AND APPROVED BY THE CHOICE FOUNDATION'S INDEPENDENT COMPENSATION COMMITTEE AND IS THEN APPROVED BY THE BOARD OF DIRECTORS. THE COMPENSATION COMMITTEE USED EDUCATION DIRECTIONS, A NATIONAL EXECUTIVE SEARCH AND SCHOOL CONSULTING FIRM, TO DETERMINE THE SALARY OF THE PRINCIPAL. THIS PROCESS AND DECISION IS DOCUMENTED. MANAGEMENT'S SALARY IS DETERMINED BY CHARLES LANDRY, THE PRINCIPAL, WITH CONSIDERATION OF COMPARABLE DATA OBTAINED FROM THE RECOVERY SCHOOL DISTRICT. THE BOARD IS THEN CONSULTED AND APPROVES MANAGEMENT'S SALARY. THIS PROCESS AND DECISION IS DOCUMENTED. Form 990, Part VI, Section C, line 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 2C - THE OVERSIGHT PROCESS OF THE AUDIT COMMITTEE HAS NOT CHANGED FROM THE PRIOR YEAR.