Fountain Valley School Of Colorado in Colorado Spgs, Colorado (CO)

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Fountain Valley School Of Colorado
Employer Identification Number (EIN)840423922
Name of OrganizationFountain Valley School Of Colorado
In Care of NameJanet Refior
Address6155 Fountain Valley School Rd, Colorado Spgs, CO 80911-2251
ActivitiesPrivate school, School, college, trade school, etc.
SubsectionEducational Organization
Ruling Date12/1959
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$61,042,810
Amount of Income$19,091,990
Form 990 Revenue Amount$13,538,606
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Secondary, High School


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Amount of income in 2014: $19,091,990
This organization: 

 $19,091,990
Other organizations performing similar types of work: 

 $16,999,627

Assets in 2014: $61,042,810
Fountain Valley School Of Colorado: 

 $61,042,810
Other organizations performing similar types of work: 

 $41,630,965

Expenses in 2014: $14,967,796
This organization: 

 $14,967,796
Other organizations performing similar types of work: 

 $14,637,671

Income to expenses ratio in 2014: 1.3
Fountain Valley School Of Colorado: 

 1.3
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2007: 71.3%
This organization: 

 71.3%
Other organizations performing similar types of work: 

 78.8%

Number of employees in 2014: 183
Fountain Valley School Of Colorado: 

 183
Other organizations performing similar types of work: 

 175

Employees paid over $100,000 in 2014: 2.2%
This organization: 

 2.2%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2014: 9.9%
This organization: 

 9.9%
Other organizations performing similar types of work: 

 11.2%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Checklist
201220132014
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNoYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNoYes
Did the organization report an amount for land, buildings, and equipment?YesYesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for other liabilities?YesYesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNoYes
Did the organization maintain an office, employees, or agents outside of the United States?NoNoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?YesYesYes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNoNo
Did the organization operate one or more hospital facilities?NoNoNo
Did the organization attach a copy of its audited financial statements?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYesNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNoYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNoNo
A family member of a current or former officer, director, trustee, or key employee?NoNoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNoNo
Was the organization related to any tax-exempt or taxable entity?NoNoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNoNo
Statements Regarding Other IRS Filings and Tax Compliance
2011201220132014
The number reported in Box 3 of Form 1096363255
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoNoNo
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return179193183
Did the organization file all required federal employment tax returns?YesYesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoYesYes
Has it filed a Form 990-T for this year?NoYesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNoNo
Did the organization notify the donor of the value of the goods or services provided?NoNoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
201220132014
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$258,961$305,759$366,272
Total reportable compensation from related organizations$0$0$0
Total estimated amount of other compensation from the organization and related organizations$51,071$48,661$54,589
Total number of individuals who received more than $100,000 of reportable compensation from the organization224
Total number of independent contractors who received more than $100,000 of compensation from the organization000
Statement of Revenue
2011201220132014
Total revenue$15,927,530$12,702,215$12,723,292$13,538,606
Contributions, Gifts, Grants and Other Similar Amounts$4,317,769$2,584,527$2,206,326$1,339,925
Program Service Revenue$10,139,568$9,189,734$9,634,782$10,849,979
900099$9,154,424$9,356,927$10,677,737
900099$35,310$47,034$33,065
900099$0$124,353$139,177
All other program service revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,052,009$637,567$111,107$913,358
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental loss$-271,861$-290,917$-207,096$-243,315
Gross rents (Real / Personal)$170,822 / $0$133,335 / $0$168,734 / $0$203,867 / $0
Less: rental expenses (Real / Personal)$442,683 / $0$424,252 / $0$375,830 / $0$447,182 / $0
Rental income or (loss) (Real / Personal)$-271,861 / $0$-290,917 / $0$-207,096 / $0$-243,315 / $0
Net gain/loss from sales of assets other than inventory$689,588$208,727$457,065$-73,716
Gross amount from sales of assets other than inventory (Securities / Other)$6,856,733 / $43,530$2,950,974 / $4,810$2,985,663 / $0$4,986,228 / $2,642
Less: cost or other basis and sales expenses (Securities / Other)$6,203,175 / $7,500$2,744,328 / $2,729$2,512,514 / $16,084$5,062,586 / $0
Gain or (loss) (Securities / Other)$653,558 / $36,030$206,646 / $2,081$473,149 / $-16,084$-76,358 / $2,642
Net income/loss from fundraising events$0$0$0$0
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$-89,551$118,997$121,191$178,248
Gross sales of inventory, less returns and allowances$309,578$376,057$378,184$221,864
Less: cost of goods sold$399,129$257,060$256,993$43,616
Miscellaneous Revenue$90,008$253,580$399,917$574,127
900099$97,673$155,605$202,174
900099$148,580$106,829$163,742
900099$7,327$137,483$208,211
All other revenue$0$0$0
Statement of Functional Expenses
2011201220132014
Total functional expenses$13,866,421$14,469,259$13,972,503$14,967,796
Grants and other assistance to domestic organizations and domestic governments$0$0$0
Grants and other assistance to domestic individuals$1,874,610$2,072,799$2,392,900
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$346,747$328,290$309,823$371,889
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$3,802,359$3,893,906$3,959,652$4,011,149
Pension plan accruals and contributions$295,393$257,840$303,245
Other employee benefits$670,307$619,423$883,751
Payroll taxes$316,443$348,881$317,599$317,000
Fees for services (non-employees)
Management$45,277$15,337$84,761
Legal$4,658$61,689$172,308
Accounting$55,356$40,856$37,969
Lobbying$0$0$0
Professional fundraising services$43,049$54,931$72,755$20,527
Investment management fees$52,134$50,936$59,071
Other$114,778$102,031$146,412
Advertising and promotion$204,644$225,607$152,224
Office expenses$645,921$588,650$666,961
Information technology$95,050$100,429$0
Royalties$0$0$0
Occupancy$1,552,839$1,414,949$1,708,153
Travel$226,743$205,533$301,195
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$118,318$224,541$124,834
Interest$104,325$105,091$129,599
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$1,360,096$1,422,038$1,342,683
Insurance$245,111$297,196$280,646
Other expenses$987,662$740,959$873,172
Other expenses$647,375$614,822$347,977
Other expenses$494,590$98,186$19,013
Other expenses$48,064$53,762$57,571
Other expenses$0$0$162,786
Balance Sheet
2011201220132014
Total assets$58,067,067$54,451,544$56,680,971$61,042,810
Cash - non-interest-bearing$13,021$1,978$2,001
Savings and temporary cash investments$3,140,233$3,341,904$3,987,935
Pledges and grants receivable, net$1,307,870$1,203,048$963,543
Accounts receivable, net$166,126$20,461$183,645
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0
Notes and loans receivable, net$0$0$0
Inventories for sale or use$14,012$12,383$14,715
Prepaid expenses and deferred charges$164,412$39,115$283,878
Land, buildings, and equipment: cost or other basis$19,417,358$18,504,853$17,813,668
Investments - publicly traded securities$23,802,622$25,735,982$27,465,964
Investments - other securities$4,488,132$5,736,977$8,074,935
Investments - program-related$0$0$0
Intangible assets$0$0$0
Other assets$1,937,758$2,084,270$2,252,526
Total liabilities$10,219,737$9,066,911$8,024,558$8,032,773
Accounts payable and accrued expenses$625,738$408,617$549,165
Grants payable$0$0$0
Deferred revenue$3,493,716$3,370,916$3,167,136
Tax-exempt bond liabilities$5,440,000$4,795,000$4,115,000$4,200,000
Escrow or custodial account liability$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$152,457$130,025$116,472
Total net assets or fund balances$47,847,330$45,384,633$48,656,413$53,010,037
Unrestricted net assets$25,005,309$27,601,886$29,473,674
Temporarily restricted net assets$4,050,545$4,430,514$6,492,593
Permanently restricted net assets$16,328,779$16,624,013$17,043,770
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$18,433,631$6,237,040$7,092,806$8,869,815$15,147,205$9,900,329$11,994,668$14,854,232
Contributions, gifts, grants, and similar amounts received$1,972,684$1,327,355$1,367,695$2,920,767$2,612,407$2,054,092$3,156,892$4,323,939
Contributions to donor advised funds$0$0
Direct public support$1,972,684$1,327,355$1,367,695$2,920,767$2,612,407$2,054,092$3,156,892$4,323,939
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$4,635,230$4,857,854$4,994,505$4,996,253$5,459,759$6,492,034$6,629,822$7,442,284
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$0
Dividends and interest from securities$1,456,853$653,841$426,843$287,971$473,173$1,158,198$1,900,542$1,711,935
Net rental income or (loss)$69,286$80,355$52,774$66,166$-30,224$-32,298$-61,998$-63,046
Gross rents$268,146$278,355$237,139$272,950$205,488$225,021$207,291$190,748
Less: rental expenses$198,860$198,000$184,365$206,784$235,712$257,319$269,289$253,794
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$10,014,665$-942,154$-9,752$281,585$6,607,472$89,970$242,229$1,200,103
Gross amount from sales of assets other than inventory$10,014,665$2,982,227$5,129,725$2,691,001$14,726,081$2,282,115$2,435,907$2,052,484
Less: cost or other basis and sales expenses$0$3,924,381$5,139,477$2,409,416$8,118,609$2,192,145$2,193,678$852,381
Net income or (loss) from special events and activities$0$0$0$0$-54,357$0$0$0
Gross revenue$0$0$0$0$80,250$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$134,607$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$-8,249
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$312,408
Less: cost of goods sold$0$0$0$0$0$0$0$320,657
Other revenue$284,913$259,789$260,741$317,073$78,975$138,333$127,181$247,266
Total expenses$9,121,180$9,372,430$9,449,582$9,494,500$9,680,528$10,514,358$11,252,143$11,451,459
Program services$6,776,439$6,760,367$7,207,229$7,258,069$7,314,172$7,756,939$7,907,033$8,159,847
Management and general$1,634,726$1,586,601$1,481,690$1,677,024$1,936,910$1,977,582$2,581,480$2,408,397
Fundraising$710,015$1,025,462$760,663$559,407$429,446$779,837$763,630$883,215
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$40,688,764$36,662,296$33,495,862$36,017,511$43,262,342$44,585,035$48,189,372$46,651,643
Excess or (deficit) for the year$9,312,451$-3,135,390$-2,356,776$-624,685$5,466,677$-614,029$742,525$3,402,773
Net assets or fund balances at beginning of year$43,201,031$40,688,761$36,662,296$33,495,862$36,017,511$43,262,342$44,585,035$48,189,372
Other changes in net assets or fund balances$-11,824,718$-891,075$-809,658$3,146,334$1,778,154$1,936,722$2,861,812$-4,940,502
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$11,451,459$8,159,847$2,408,397$883,215
Grants paid from donor advised funds$0
Other grants and allocations$1,435,988
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$327,525$223,910$75,419$28,196
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$4,040,638$2,772,329$913,062$355,247
Pension plan contributions not included above$230,887$155,282$55,944$19,661
Employee benefits not included above$396,981$256,289$105,869$34,823
Payroll taxes$332,682$229,738$74,110$28,834
Professional fundraising fees$85,273$0$0$85,273
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$212,051$143,729$16,561$51,761
Telephone$43,604$5,574$30,280$7,750
Postage and shipping$76,519$1,836$40,239$34,444
Occupancy$669,119$598,968$62,265$7,886
Equipment rental and maintenance$139,766$139,766$0$0
Printing and publications$130,669$31,479$12,558$86,632
Travel$158,079$0$80,363$77,716
Conferences, conventions, and meetings$0$0$0$0
Interest$308,949$0$308,949$0
Depreciation, depletion, etc.$1,213,339$1,091,613$121,726$0
Other expenses not covered above$1,649,390$1,073,346$511,052$64,992
Balance Sheets
20002001200220032004200520062007
Total assets$54,010,529$49,586,861$45,293,377$46,676,101$55,075,933$55,499,691$60,521,477$58,313,536
Cash - non-interest-bearing$369,861$383,091$831,853$269,723$2,371,690$1,585,695$15,000$15,000
Savings and temporary cash investments$0$0$0$0$10,000$15,000$6,654,266$5,949,653
Accounts receivable less allowance for doubtful accounts$236,132$2,096$1,496$30,553$681$83,618$110,710$75,513
Pledges receivable less allowance for doubtful accounts$3,107,945$1,902,832$939,733$834,258$334,083$527,968$182,213$206,917
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$80,925$85,325$70,078$92,363$109,538$104,536$100,236$201,086
Prepaid expenses and deferred charges$135,817$201,708$57,684$59,972$123,980$233,815$267,354$222,497
Investments - publicly-traded securities$34,360,216$28,232,663
Investments - other securities$25,535,114$22,973,677$20,134,826$23,099,939$31,328,261$33,182,483$0$3,712,889
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$3,406,720$444,308$176,157$184,326$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$21,002,291$23,425,196$22,905,998$21,943,154$20,797,700$19,766,576$18,831,482$19,697,318
Other assets, including program-related investments$135,724$168,628$175,552$161,813$0$0$0$0
Total liabilities$13,321,765$12,924,565$11,797,515$10,658,590$11,813,591$10,914,656$12,332,105$11,661,893
Accounts payable and accrued expenses$1,283,371$546,704$413,444$475,660$844,211$730,006$633,909$763,076
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$3,038,394$3,171,172$2,582,207$1,807,806$3,260,028$2,808,324$3,896,711$3,423,162
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$9,000,000$9,000,000$8,585,000$8,144,582$7,684,092$7,198,167$7,198,167$7,198,167
Mortgages and other notes payable$0$0$0$0$25,260$18,439$10,374$0
Other liabilities$0$206,689$216,864$230,542$0$159,720$592,944$277,488
Total liabilities and net assets/fund balances$54,010,529$49,586,861$45,293,377$46,676,101$55,075,933$55,499,691$60,521,477$58,313,536
Total net assets or fund balances$40,688,764$36,662,296$33,495,862$36,017,511$43,262,342$44,585,035$48,189,372$46,651,643
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$18,433,631$6,237,040$7,092,806$8,869,815$15,147,205$9,900,329$11,994,668$14,854,232
Total revenue, gains, and other support per audited financial statements$6,807,773$5,330,521$6,812,653$12,222,933$17,215,428$12,094,370$15,125,769$10,488,181
Other expenses$-11,625,858$-906,519$-280,153$3,353,118$2,068,223$2,194,041$3,131,101$-4,366,051
Net unrealized gains on investments$-11,824,718$-1,104,519$-809,658$3,146,334$1,804,640$1,957,992$2,879,788$-4,928,930
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$198,860$198,000$529,505$206,784$263,583$236,049$251,313$562,879
Other revenue$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$9,121,180$9,372,430$9,449,582$9,494,500$9,680,528$10,514,358$11,252,143$11,451,459
Total expenses and losses per audited financial statements$9,320,040$9,570,430$9,979,087$9,701,284$9,970,597$10,771,677$11,521,432$12,025,910
Other revenue$198,860$198,000$529,505$206,784$290,069$257,319$269,289$574,451
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$198,860$198,000$529,505$206,784$290,069$257,319$269,289$574,451
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$161,240$12,554$41,140
40$88,800$15,991$7,800
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings29
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006114
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$-63,046$3,034,819$7,558,520
Program service revenue
Program service revenue 1000000$000$0$7,312,854
Program service revenue 2000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$129,430$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,711,935$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal propertyRental of personal property$-63,04600$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$1,200,103$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$-8,249$0
Other revenue000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$1,600$245,666
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$97,000$19,930$17,700
$90,168$7,934$16,200
$80,000$15,554$16,200
$70,000$14,337$16,200
$70,000$14,337$800
Total number of other employees paid over $50,00011
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$190,748$253,794$-63,046
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$190,748$253,794$-63,046
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$0
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$-796,303
Unrelated business taxable income before net operating loss deduction$-63,046
Net operating loss deduction$733,257
Unrelated business taxable income before specific deduction$-796,303
Specific deduction$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Kent Denver Country Day School4000 E Quincy Ave, Englewood, CO 80113-4916CO1941-11$33,050,443
2Fountain Valley School Of Colorado6155 Fountain Valley School Rd, Colorado Spgs, CO 80911-2251CO1959-12$19,091,990
3American Honda Education Corporation3750 Notaiah Rd, Estes Park, CO 80517CO1991-08$6,184,030
4Yeshiva Of Los Angeles High Schools1619 S Robertson Blvd, Los Angeles, CA 90035-4245CA2006-09$5,722,875
5Timothy L Johnson Academy2125 University Park Drive, Okemos, MI 48864-6910MI2005-07$2,846,717
6The Gateway Academy Inc3721 Dacoma St, Houston, TX 77092-8905TX2007-03$2,064,161
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8Parkway Christian Academy Inc9753 Parkway E, Birmingham, AL 35215-7803AL2009-07$1,382,258
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Number of organizations performing similar types of work
Alabama2
Arizona3
California31
Colorado5
Connecticut20
District of Columbia1
Delaware1
Florida6
Georgia5
Hawaii2
Iowa1
Illinois3
Indiana2
Kansas1
Kentucky2
Massachusetts29
Maryland5
Maine5
Michigan2
Minnesota3
Missouri5
Mississippi1
North Carolina8
New Hampshire9
New Jersey5
New Mexico4
New York13
Ohio4
Oregon3
Pennsylvania7
Rhode Island1
South Carolina2
Tennessee6
Texas7
Utah1
Virginia8
Vermont5
Washington5
Wisconsin1
Wyoming1
International2
Total227

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