2024-12-20T09:59:34-05:00 2024-06-30 825326756 GORMAN & ASSOCIATES PC 1825 FRANKLIN ST STE B NORTHAMPTON PA 180671573 990 2023-07-01 814137987 EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL FOUNDATION EXEC 6108417044 555 UNION BOULEVARD ALLENTOWN PA 18109 ROBERT LYSEK BOARD PRESIDENT 2158961413 2024-12-19 true true ROBERT B TRAVIS CPA P01044470 6102621280 2024-12-19 2023 2024-10-15 13:58:12Z ROBERT LYSEK 555 UNION BLVD ALLENTOWN PA 18109 6521904 false X N/A X 2016 PA TO REVIEW PROGRAM IDEAS AND MAKE GIFTS AND GRANTS TO THE EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL, AND TO THE INDIVIDUAL DEPARTMENTS, TEACHERS, STUDENTS, AND STUDENT GROUPS TO FURTHER THE MISSION OF THE EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL AND THE FOUNDATION; AND TO RECEIVE DONATIONS FROM DONORS WHO WISH TO SPONSOR PROJECTS AT EEACS AND ITS INDIVIDUAL DEPARTMENTS, TEACHERS, STUDENTS, AND STUDENT GROUPS, TO FURTHER THE PURPOSE OF THE FOUNDATION AND EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL. THE FOUNDATION WILL PROMOTE,ENHANCE, AND SUPPLEMENT EDUCATIONAL PROGRAMS, INCLUDING EXTRACURRICULAR ACTIVITIES, FOR THE BENEFIT OF EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL. 11 11 0 149471 148471 4356 24282 500 0 371430 389126 -163127 291741 213159 705149 0 0 0 0 0 101841 138080 101841 138080 111318 567069 53719995 53128170 53799079 52640184 -79084 487986 X TO REVIEW PROGRAM IDEAS AND MAKE GIFTS AND GRANTS TO THE EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL, AND TO THE INDIVIDUAL DEPARTMENTS, TEACHERS, STUDENTS, AND STUDENT GROUPS TO FURTHER THE MISSION OF THE EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL AND THE FOUNDATION; AND TO RECEIVE DONATIONS FROM DONORS WHO WISH TO SPONSOR PROJECTS AT EEACS AND ITS INDIVIDUAL DEPARTMENTS, TEACHERS, STUDENTS, AND STUDENT GROUPS, TO FURTHER THE PURPOSE OF THE FOUNDATION AND EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL. THE FOUNDATION WILL PROMOTE,ENHANCE, AND SUPPLEMENT EDUCATIONAL PROGRAMS, INCLUDING EXTRACURRICULAR ACTIVITIES, FOR THE BENEFIT OF EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL. false false 15100 TO MAKE GIFTS AND GRANTS TO THE EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL 15100 true false false false false false false false false false true false false false true false true false false false false false false false true false false false false false true false false false false false false false false false false false false false false false false false false false false 0 0 0 true true false false false false false false false 11 11 false false false false false false false true true false false false false false false false false false SELMA ABI-DAHER 6108417044 555 UNION BLVD ALLENTOWN PA 18109 X ROBERT LYSEK BOARD PRESID X X 0 0 0 BARRY DOBIL TREASURER X 0 0 0 JACK DADDONA BOARD MEMBER X 0 0 0 KEITH FLICKINGER BOARD MEMBER X 0 0 0 SELMA ABI-DAHER BOARD SECRET X 0 0 0 MICHAEL MCCREARY BOARD MEMBER X 0 0 0 GABRIEL RENDON BOARD MEMBER X 0 0 0 ROBERT BUCKLEY BOARD MEMBER X 0 0 0 KIM BJORKMAN SEC. TO BOAR X 0 0 0 false false false 24282 24282 389126 389126 5963948 5801636 162312 162312 149471 12841 63748 15119 48629 LEHIGH VALLEY HEALTH NETWORK 80800 80800 80800 705149 389126 149471 93641 X 46272 46272 8000 8000 37521 15100 22421 515 515 1093 1093 UNRELATED BUSINESS INC. T 44679 44679 138080 15100 122980 0 12029065 7883881 94225 80009 48456440 4421946 36627124 44034494 1079224 1014886 3890357 114900 53719995 53128170 3887980 3356648 38625 37829 43580000 43580000 6292474 5665707 53799079 52640184 X -79084 487986 -79084 487986 53719995 53128170 X 567069 1 X false true false X X 1 EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL 463958358 2 true 0 0 1 0 true false false false false false false false false false false false false false false true 7613000 7613000 40843440 4421946 36421494 44034494 TAXABLE REV BONDS - SERIES B OF 2017 3995000 QNB MORTGAGE PAYABLE 945073 SECURITY DEPOSITS 725634 5665707 705149 705149 705149 138079 138079 1 1 138080 SCHEDULE D, PAGE 4, PART XII, LINE 4B BOOK / TAX DEPRECIATION DIFFERENCE 1 GOLF OUTING 43748 43748 15119 SPONSORSHIP SIG 20000 20000 63748 63748 15119 15119 48629 A ALLENTOWN COMMERCIAL AND INDUSTRIAL DEVELOPMENT AUTHORITY 232248358 018433AL6 2017-08-09 3870000 THE PURPOSE OF THIS LIMITED OFFERING MEMORANDUM OF THE ALLENTOWN COMMERCIAL AND INDUSTRIAL DEVELOPME false false false B ALLENTOWN COMMERCIAL AND INDUSTRIAL DEVELOPMENT AUTHORITY 232248358 018433AH5 2017-08-09 6675000 SAME AS A false false false C ALLENTOWN COMMERCIAL AND INDUSTRIAL DEVELOPMENT AUTHORITY 232248358 018433AJ1 2017-08-09 24265000 SAME AS A false false false D ALLENTOWN COMMERCIAL AND INDUSTRIAL DEVELOPMENT AUTHORITY 232248358 018433AU6 2022-10-03 8770000 THE AUTHORITY AND BORROWER HAVE ENTERED INTO THE LOAN AND TRUST AGREEMENT PURSUANT TO WHICH THE AUTH false false false A 3870000 3870000 2018 false false false true B 6675000 6675000 2018 false false false true C 24265000 24265000 2018 false false false true D 8770000 8770000 2024 false false false true A false true false false 0.02830 0.25680 0.28510 false false false B false true false false 0.02830 0.25680 0.28510 false false false C false true false false 0.02830 0.25680 0.28510 false false false D false true false false 0.02830 0.25680 0.28510 false false false A false false false false false false false false false B false false false false false false false false false C false false false false false false false false false D false false false false false false false false false A false B false C false D false PURPOSE OF ISSUE DESCRIPTION ALLENTOWN COMMERCIAL AND INDUSTRIAL THE PURPOSE OF THIS LIMITED OFFERING MEMORANDUM OF THE ALLENTOWN COMMERCIAL AND INDUSTRIAL DEVELOPMENT ATHORITY (THE "AUTHORITY") IS TO FURNISH INFORMATION CONCERNING EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL FOUNDATION (THE "BORROWER"), EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL (THE "SCHOOL") AND THE AUTHORITY'S 34,810,000 TAX-EXEMPT REVENUE BONDS (EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL FOUNDATION PROJECT) SERIES A OF 2017 (THE "SERIES A BONDS") AND 6,865,000 TAXABLE REVENUE BONDS (EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL FOUNDATION PROJECT) SERIES B OF 2017 (THE "SERIES B BONDS- AND TOGETHER WITH THE SERIES A BONDS, THE "BONDS"). THE PROJECT - THE PROCEEDS OF THE BONDS WILL BE LOANED TO THE BORROWER IN ORDER TO FINANCE A PROJECT (THE "PROJECT") CONSISTING OF: (I) THE AQUISITION, RENOVATION AND EQUIPING OF A FACITLITY TO BE USED, IN PART, AS A SCHOOL FACILITY, AND THE CONSTRUCTION OF ADDITIONS OR OTHER CAPITAL EXENDITURES WITH RESPECT TO SUCH FACILITY (THE "FACILITIES"); (II) THE FUNDING OF A DEBT SERVICES RESERVE FUND FOR THE BONDS; (III) THE PAYMENT OF COSTS OF ISSUING THE BONDS. THE PORTION OF THE FACILITIES CONSISTING OF A SCHOOL FACILITY (THE "SCHOOL FACILITY") WILL BE LEASED BY THE BORROWER TO ITS AFFILIATE, EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL, A CHARTER SCHOOL DULY ORGANIZED AND VALIDLY EXISTING UNDER 24 PS 17-1701-A ET SEQ. (THE "SCHOOL") PURSUANT TO A LEASE AGREEMENT DATED AS OF AUGUST 1, 2017 (THE "LEASE") FOR USE AS A PUBLIC CHARTER SCHOOL FOR GRADES K THROUGH 12. CERTAIN PORTIONS OF THE FACILITIES NOT LEASED TO THE SCHOOL WILL BE LEASED TO CERTAIN OTHER ORGANIZATIONS( THE "OTHER TENANTS") PURSUANT TO CERTAIN OTHER INDIVIDUAL LEASES (THE "OTHER LEASES"). PURPOSE OF ISSUE DESCRIPTION ALLENTOWN COMMERCIAL AND INDUSTRIAL SAME AS A PURPOSE OF ISSUE DESCRIPTION ALLENTOWN COMMERCIAL AND INDUSTRIAL SAME AS A PURPOSE OF ISSUE DESCRIPTION ALLENTOWN COMMERCIAL AND INDUSTRIAL THE AUTHORITY AND BORROWER HAVE ENTERED INTO THE LOAN AND TRUST AGREEMENT PURSUANT TO WHICH THE AUTHORITY IS MAKING A LOAN OF THE PROCEEDS OF THE 2022 BONDS TO THE BORROWER. THE PROCEEDS FROM THE 2022 BONDS, TOGETHER WITH OTHER AVAILABLE FUNDS, WILL BE USED BY THE BORROWER FOR THE PURPOSE OF: (I) MAKING CERTAIN RENOVATIONS AND CONSTRUCTING CERTAIN ADDITIONS TO THE EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL'S ("SCHOOL") FACILITIES INCLUDING A FIELDHOUSE AND FLEX SPACE ADDITION AS WELL AS TO OTHERWISE FURNISH AND EQUIP THE SCHOOL'S FACITLITY AT PROPERTY LOCATED AT 555 UNION BOULEVARD, ALLENTOWN, PENNSYLVANIA ("PROPERTY"); (II) THE FUNDING OF A DEBT SERVICE RESERVE FUND; (III) MAKING PROVISION FOR CAPITALIZED INTEREST; AND (IV) THE PAYMENT OF COSTS OF ISSUANCE OF THE 2022 BONDS (COLLECTIVELY, THE "PROJECT"). UNDER THE LOAN AND TRUST AGREEMENT, THE BORROWER IS OBLIGATED TO MAKE PAYMENTS WHICH WILL BE SUFFICIENT TO PAY THE PRINCIPAL OR PREPAYMENT PRICE OF AND INTEREST ON THE 2022 BONDS AS AND WHEN THE SAME BECOME DUE. FORM 990 - ORGANIZATION'S MISSION TO REVIEW PROGRAM IDEAS AND MAKE GIFTS AND GRANTS TO THE EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL, AND TO THE INDIVIDUAL DEPARTMENTS, TEACHERS, STUDENTS, AND STUDENT GROUPS TO FURTHER THE MISSION OF THE EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL AND THE FOUNDATION; AND TO RECEIVE DONATIONS FROM DONORS WHO WISH TO SPONSOR PROJECTS AT EEACS AND ITS INDIVIDUAL DEPARTMENTS, TEACHERS, STUDENTS, AND STUDENT GROUPS, TO FURTHER THE PURPOSE OF THE FOUNDATION AND EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL. THE FOUNDATION WILL PROMOTE,ENHANCE, AND SUPPLEMENT EDUCATIONAL PROGRAMS, INCLUDING EXTRACURRICULAR ACTIVITIES, FOR THE BENEFIT OF EXECUTIVE EDUCATION ACADEMY CHARTER SCHOOL. FORM 990, PAGE 6, PART VI, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC FORM 990, PART IX, LINE 11G BANK SERVICE CHARGES 0 4,310 0 OTHER PROFESSIONAL SERVICES 0 17,911 0 MISCELLANEOUS EXPENSES 0 200 0 SCHOLARSHIPS & AWARDS 15,100 0 0 TOTAL 15,100 22,421 0 FORM 990, PART XI, LINE 9 BOOK / TAX DEPRECIATION DIFFERENCE 1