2024-05-14T19:35:45-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 4501 TAMIAMI TRAIL NORTH SUITE 200 NAPLES FL 341033548 990 2022-07-01 582395519 ROYAL PALM ACADEMY INC ROYA 2395949888 16100 LIVINGSTON ROAD NAPLES FL 34110 CHARLES R CIUNI TREASURER 2395949888 2024-05-13 1 CHARLES CIUNI 999009999 1 AMELIA COOPER P00437898 2392628686 2024-05-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CHARLES R CIUNI 16100 LIVINGSTON ROAD NAPLES FL 34110 7257404 0 X ROYALPALMACADEMY.ORG X 1998 FL THE MISSION OF ROYAL PALM ACADEMY IS TO PARTNER WITH FAMILIES TO PROVIDE AN EDUCATION OF RICH ACADEMICS WITH CATHOLIC FORMATION. WE TEACH THE MIND, EDUCATE THE HEART, AND FORM THE CHARACTER OF TOMORROW'S LEADERS. 8 8 82 50 0 0 983608 1442642 3385231 5327960 43040 24072 -51548 7421 4360331 6802095 575652 1401768 0 0 2524915 3198995 0 0 240460 1303681 1852466 4404248 6453229 -43917 348866 6267583 6638103 2208894 2192664 4058689 4445439 THE MISSION OF ROYAL PALM ACADEMY IS TO PARTNER WITH FAMILIES TO PROVIDE AN EDUCATION OF RICH ACADEMICS WITH CATHOLIC FORMATION. WE TEACH THE MIND, EDUCATE THE HEART, AND FORM THE CHARACTER OF TOMORROW'S LEADERS. 0 0 5665369 1401768 5327960 ROYAL PALM ACADEMY OPERATES AN ELEMENTARY SCHOOL WITH APPROXIMATELY 325 STUDENTS FROM PRE-KINDERGARTEN THROUGH 8TH GRADE. 5665369 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 1 82 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DENNIS FRODSHAM 2395949888 16100 LIVINGSTON RD NAPLES FL 34110 KAREN AVERY PRESIDENT 0.10 X X 0 0 0 JOE O'MALLEY VICE PRESIDENT 0.10 X X 0 0 0 CHARLES CIUNI TREASURER 0.10 X X 0 0 0 OLESYA KARAKOSTA SECRETARY 0.10 X X 0 0 0 JACQUELINE BALANDRA IMMEDIATE PAST PRESIDENT 0.10 X X 0 0 0 JARED FORD DIRECTOR 0.10 X 0 0 0 ROBERT RINGHOFER DIRECTOR 0.10 X 0 0 0 TIMOTHY SCHWARTZ DIRECTOR 0.10 X 0 0 0 MICHAEL BUSSMAN HEAD OF SCHOOL 40.00 X 136470 0 9851 DENNIS FRODSHAM BUSINESS MANAGER/CFO 40.00 X 97640 0 10106 234110 0 19957 2 0 0 0 0 110412 810489 521741 59000 1442642 TUITION INCOME 611110 4847955 4847955 VARIOUS SCHOOL PROGRAM 611110 343555 343555 RESOURCE & TECHNOLOGY 611110 127831 127831 BOOK SALES 611110 8619 8619 5327960 21080 21080 597 0 597 597 597 361196 358204 2992 2992 2992 87310 110412 97105 -9795 -9795 INSURANCE SETTLEMENT 900099 16563 16563 CARD CREDIT 900099 56 56 16619 6802095 5327960 0 31493 1401768 1401768 299516 263477 23603 12436 2409086 2119210 189847 100029 28991 25342 2390 1259 256064 223908 21059 11097 205338 179627 16839 8872 10073 1185 8829 59 24079 2833 21106 140 3983 3983 9362 1037 8274 51 40372 40372 57378 17678 37034 2666 37200 32542 3051 1607 541834 513659 22757 5418 25848 25848 286379 271487 12028 2864 129780 122425 5762 1593 MATERIAL AND SUPPLIES 406998 380251 7304 19443 VOLUNTEERING EXPENSE 81285 52835 24386 4064 FUNDRAISING EXPENSE 66935 66935 CONTINUING EDUCATION 43310 10033 33277 87650 46072 39651 1927 6453229 5665369 547400 240460 880751 547 435793 1508050 400 26318 26838 43075 61957 7444685 2869989 4455534 4574696 425712 451015 15000 6267583 6638103 166523 238486 1334637 1357534 570834 536606 136900 60038 2208894 2192664 X 3002160 3557486 1056529 887953 4058689 4445439 6267583 6638103 348866 37884 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15000 15000 15000 15000 15000 15000 15000 15000 15000 15000 1.00000 0 0 389939 389939 4119842 1498282 2621560 842162 511848 330314 1101437 675963 425474 991305 183896 807409 4574696 X 5352398 37884 -1483598 -1445714 6798112 3983 3983 6802095 4965648 0 4965648 3983 1483598 1487581 6453229 PART V, LINE 4: THE SCHOOL HAS A DONOR-RESTRICTED ENDOWMENT FUND ESTABLISHED FOR THE PURPOSE OF PROVIDING INCOME SUPPORT GENERAL OPERATIONS AND SCHOLARSHIPS. THERE IS NO BOARD-DESIGNATED ENDOWMENT. PART X, LINE 2: THE INTERNAL REVENUE SERVICE (IRS) HAS DETERMINED THE SCHOOL IS EXEMPT FROM INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). IN ADDITION, THE SCHOOL HAS BEEN DETERMINED BY THE IRS NOT TO BE A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE IRS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THESE FINANCIAL STATEMENTS. THE SCHOOL FOLLOWS THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THIS GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON THE FINANCIAL STATEMENTS. THE SCHOOL'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE SCHOOL IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. THE SCHOOL IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES. PART XI, LINE 2D - OTHER ADJUSTMENTS: DISCOUNTS AND SCHOLARSHIP TUITION -1,401,768. PARENT VOLUNTEERING EXPENSES -81,285. TUITION BILLING FEES -545. PART XII, LINE 4B - OTHER ADJUSTMENTS: DISCOUNTS AND SCHOLARSHIP TUITION 1,401,768. PARENT VOLUNTEERING EXPENSE 81,285. TUITION BILLING FEES 545. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 RPA DID NOT PUBLICIZE ITS POLICY THROUGH NEWSPAPER OR BROADCAST MEDIA. RPA DID NOT SOLICIT STUDENTS THROUGH THESE MEDIUMS. RPA INCORPORATES ITS NON-DISCRIMINATORY POLICY (INCLUDING RACIAL NON-DISCRIMINATION) INTO ITS PRINTED BROCHURES AND MARKETING MATERIALS, ON ITS WEBSITE AND ON ITS ENROLLMENT APPLICATION. SCHEDULE E, PART I, LINE 4 RACIAL COMPOSITION DATA ARE NOT COLLECTED FOR STUDENTS OF EMPLOYEES. SCHEDULE E, PART I, LINE 6 THE SCHOOL ACCEPTS SCHOLARSHIP PAYMENTS ON BEHALF OF STUDENTS FROM THE STATE OF FLORIDA UNDER THE FLORIDA TAX CREDIT SCHOLARSHIP PROGRAM. GALA 112571 59151 53420 1050 17470 20452 14837 756 FASHION SHOW 85151 51261 33890 31295 8549 2696 2 197722 110412 87310 1050 17470 51747 23386 3452 97105 -9795 1 FTC AWARDS 94 808527 FINANCIAL ASSISTANCE AND BENEFITS 87 552869 MULTI CHILD DISCOUNT 19 40372 PART I, LINE 2: APPLICANTS FOR FINANCIAL AID SUBMIT AN APPLICATION THROUGH FACTS, WHICH PRODUCES A NEEDS ASSESSMENT FOR THE SCHOOL TO USE. A FINANCIAL AID COMMITTEE MEETS WITH EACH FAMILY AND REVIEWS THEIR APPLICATION. THE COMMITTEE RECOMMENDS AN AWARD TO THE HEAD OF SCHOOL FOR REVIEW AND APPROVAL. AWARDS ARE BASED ON DEMONSTRATED FINANCIAL NEED. 20193 FINANCIAL ASSISTANCE TUITION DISCOUNT X FURNITURE AND EQUIPMENT 1 50000 FAIR MARKET VALUE X AUCTION ITEMS 2 9000 FAIR MARKET VALUE 0 0 0 PART I, COLUMN (B): THE NUMBERS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE PRESIDENT, IMMEDIATE PAST PRESIDENT (WHEN APPLICABLE), VICE PRESIDENT, TREASURER, AND THE SECRETARY, AND THE CHAIRPERSONS OF THE STANDING COMMITTEES. THE EXECUTIVE COMMITTEE MAY ACT FOR THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD, WITHIN THE POLICIES ESTABLISHED BY THE BOARD AND WITH SUCH ADDITIONAL AUTHORITY AS MAY BE DELEGATED BY THE BOARD, EXCEPT IN THOSE MATTERS RESERVED BY LAW, THE ARTICLES OF INCORPORATION OR IN THESE BYLAWS FOR DETERMINATION BY THE BOARD OF DIRECTORS. IN ALL MATTERS RELATING TO THE ORDINARY CONDUCT OF THE AFFAIRS OF ROYAL PALM ACADEMY, INC., THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SHALL HAVE AND MAY EXERCISE, AS REQUIRED, THE POWERS OF THE BOARD OF DIRECTORS. ACTIONS WHICH ARE NOT CONSIDERED IN THE ORDINARY COURSE OF BUSINESS SHALL INCLUDE THE BORROWING OF MONEY, THE SELLING OF REAL ESTATE, OR AN EXPENDITURE IN EXCESS OF $50,000, AND THEREFORE REQUIRE ACTION BY THE FULL BOARD. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED THEIR BYLAWS WHICH INCLUDED ADDING THE IMMEDIATE PAST PRESIDENT AS A VOTING MEMBER TO THE BOARD OF DIRECTORS AND PROVIDING FURTHER EXPLANATION OF THE EXECUTIVE COMMITTEE'S PURPOSE AND SCOPE. FORM 990, PART VI, SECTION B, LINE 11B THE BUSINESS MANAGER REVIEWS THE 990 AND FORWARDS A COPY TO THE HEAD OF THE SCHOOL AND THE TREASURER FOR FINAL REVIEW. ALL BOARD MEMBERS ARE PROVIDED A COPY OF THE 990 BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND OFFICERS SHALL AVOID ANY ACTION WHICH GIVES RISE TO AN ACTUAL CONFLICT OR WHICH GIVES EVEN THE APPEARANCE OF PRESENTING A CONFLICT OF INTEREST. WHERE A CONFLICT EXISTS OR MAY BE PERCEIVED TO EXIST, BOARD MEMBERS AND OFFICERS SHALL FOLLOW THE PROCEDURES OUTLINED IN THIS POLICY. DUTY TO DISCLOSE - IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE FULLY THE EXISTENCE OF THE FINANCIAL OR CONFLICTING INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD OF DIRECTORS AND/OR MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS - AFTER DISCLOSURE OF THE FINANCIAL AND/OR CONFLICTING INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST A. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. B. THE PRESIDENT OF THE GOVERNING BOARD SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. C. WHILE EXERCISING THE APPROPRIATE DUE DILIGENCE AND GOOD BUSINESS JUDGMENT, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. D. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. VIOLATION OF THE CONFLICT OF INTEREST POLICY A. IF THE GOVERNING BOARD HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. B. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION WHICH MAY INCLUDE AMONG OTHER THINGS A REBUKE, A CENSURE AND/OR REMOVAL FROM THE BOARD OF DIRECTORS OR OFFICER POSITION(S). ANNUALLY, BOARD MEMBERS SUBMIT A SIGNED STATEMENT THAT THERE ARE NO CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE HEAD OF SCHOOL (CEO) IS DETERMINED ANNUALLY BY THE FULL BOARD OF DIRECTORS WITH COLLABORATIVE REVIEW AND CONSIDERATION OF COMPARABLE MARKET SALARIES. COMPENSATION OF ALL OTHER EMPLOYEES IS DETERMINED BY THE HEAD OF SCHOOL WITH CONSIDERATION OF COMPARABLE MARKET SALARIES AND OVERSIGHT BY THE BOARD OF DIRECTORS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST.