2024-05-13T14:01:09-05:00 2023-06-30 PATTILLO BROWN & HILL LLP 5610 HOMESTEAD RD NE SUITE 100B ALBUQUERQUE NM 87110 990 2022-07-01 263139215 COTTONWOOD CLASSICAL FOUNDATION INC COTT 5059981021 7801 JEFFERSON ST NE ALBUQUERQUE NM 87109 MATT MERHEGE TREASURER 5059981021 2024-05-10 MATT MERHEGE 999009999 1 MICHELLE DUNLAP P01219593 5052665904 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z MATT MERHEGE 7801 JEFFERSON ST NE ALBUQUERQUE NM 87109 1897573 0 X WWW.COTTONWOODCLASSICALFOUNDATION.ORG X 2009 NM THE ORGANIZATION PROVIDES COTTONWOOD CLASSICAL PREPARATORY CHARTER SCHOOL WITH FINANCIAL ASSISTANCE FOR ITS STUDENTS AND FACULTY. THE ORGANIZATION ALSO ASSISTS THE SCHOOL BY BEING A CONDUIT FOR FINANCING THE SCHOOL PROPERTY. 9 8 0 20 0 0 148936 17490 1078721 885618 369630 972732 13706 15665 1610993 1891505 0 0 0 0 0 0 0 0 0 1716151 1203398 1716151 1203398 -105158 688107 33407726 37617546 34227856 37749569 -820130 -132023 THE ORGANIZATION PROVIDES COTTONWOOD CLASSICAL PREPARATORY CHARTER SCHOOL WITH FINANCIAL ASSISTANCE FOR ITS STUDENTS AND FACULTY. THE ORGANIZATION ALSO ASSISTS THE SCHOOL BY BEING A CONDUIT FOR FINANCING THE SCHOOL PROPERTY. 0 0 1167814 885618 THE ORGANIZATION PROVIDES COTTONWOOD CLASSICAL PREPARATORY SCHOOL (CCPS) ADDITIONAL EDUCATIONAL ASSISTANCE. THE ORGANIZATION ENTERED INTO A LEASE PURCHASE AGREEMENT TO ACT AS A FACILITOR/CONDUIT TO ACQUIRE A PERMANENT SCHOOL FACILITY FOR CCPS WITH THE LEASE PURCHASE STARTING IN JULY 2013. PER NM STATUTES CHARTER SCHOOLS ARE NOT ALLOWED TO OWN ENCUMBERED PROPERTY. APPROVAL WAS OBTAINED FROM THE STATE OF NEW SCHOOL BOARD FOR THE TRANSACTION AND AGREEMENT. 1167814 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 NM X X MATT MERHEGE 5059981021 7801 JEFFERSON ST NE ALBUQUERQUE NM 87109 X CURTIS HOLLOWAY PRESIDENT 8.00 X X 0 0 0 CRYSTAL MEGOFNA VICE PRESIDENT 20.00 X X 0 0 0 LEXI HARTMAN SECRETARY 5.00 X X 0 0 0 MATT MERHEGE TREASURER 3.00 X X 0 0 0 JESSICA WEEMS DIRECTOR 3.00 X 0 0 0 DEANZA VALENCIA DIRECTOR 4.00 X 0 0 0 ISAIAH NIXON DIRECTOR 4.00 X 0 0 0 KEITH JORDAN DIRECTOR 3.00 X 0 0 0 JUAN LOPEZ DIRECTOR 3.00 X 0 0 0 IGOR DERNOV DIRECTOR 3.00 X 0 0 0 0 0 0 0 0 0 0 0 2204 5265 10021 17490 AFFILIATED ENTITY RENT 531120 885618 885618 885618 972732 972732 21733 5265 6068 15665 15665 1891505 885618 0 988397 9021 9021 13059 13059 3759 3759 5440 5440 2625 2625 698412 698412 431935 431935 1680 1680 BOND ISSUANCE COSTS 27534 27534 SCHOOL SUPPORT 9933 9933 1203398 1167814 35584 0 1 0 659330 728124 887798 944543 18232681 17315107 104378 102469 19677923 1513349 12901536 18164574 622002 362729 33407726 37617546 8243 192439 18940674 17775094 15278939 19782036 34227856 37749569 X -820130 -132023 -820130 -132023 33407726 37617546 688107 0 X X 0 1 X 0 0 X X 1 COTTONWOOD CLASSICAL PREPATORY SCHOOL 262087410 2 1 9933 27534 1 9933 27534 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE A, PART IV, SECTION B, LINE 1 THE ORGANIZATION SOLELY SUPPORTS COTTONWOOD CLASSICAL PREPARATORY SCHOOL (CCPS) SO IT HAS REVISED ITS GOVERNING DOCUMENTS TO REFLECT THAT IT IS A SUPPORT ORGANIZATION FOR CCPS. THE ORGANIZATION IS OPERATED, SUPERVISED, AND CONTROLLED BY CCPS EVEN THOUGH THE MAJORITY OF THE FOUNDATION'S GOVERNING BOARD OR OFFICERS ARE NOT ELECTED OR APPOINTED BY CCPS AND INSTEAD ARE SELF-ELECTED. THUS, THE ORGANIZATION IS A TYPE 1 SUPPORTING ORGANIZATION NOTWITHSTANDING ANSWERING "NO" TO THIS QUESTION. CCPS OPERATES, SUPERVISES, AND HAS CONTROL OVER THE ORGANIZATION THROUGH A MEMORANDUM OF AGREEMENT EXECUTED BY CCPS AND THE ORGANIZATION DATED NOVEMBER 30, 2009 AND AMENDED ON NOVEMBER 20, 2012. THIS MEMORANDUM OF AGREEMENT (MOA) GIVES CCPS ULTIMATE CONTROL OVER THE FOUNDATION. EITHER PARTY MAY TERMINATE THE MOA FOR ANY REASON, AND IF THE MOA IS TERMINATED (OR THE ORGANIZATION IS DISSOLVED), ALL ASSETS AND PROPERTY OF THE ORGANIZATION SHALL BE TRANSFERRED TO CCPS OR A SUCCESSOR ORGANIZATION. THIS GIVES CCPS CONTROL OVER THE FOUNDATION'S ACTIONS, BECAUSE IF CCPS DOES NOT APPROVE DECISIONS MADE BY THE ORGANIZATION, CCPS CAN TERMINATE THE MOA AND TAKE OVER THE ORGANIZATION'S ASSETS AND ACTIVITIES. CCPS ALSO OPERATES AND SUPERVISES THE ORGANIZATION THROUGH THE ORGANIZATION'S OBLIGATIONS TO SUPPORT CCPS AND TO PROVIDE CCPS WITH INFORMATION AND THROUGH THE SERVICES CCPS PROVIDES THE ORGANIZATION. PURSUANT TO THE MOA, THE ORGANIZATION'S ACTIVITIES SHALL BE CONDUCTED FOR THE BENEFIT OF CCPS AND MUST BE CONSISTENT WITH CCPS'S PLANS,PROGRAMS, AND POLICIES. ALL DISBURSEMENT OF FUNDS SHALL BE MADE DIRECTLY TO CCPS UNLESS APPROVED BY CCPS'S EXECUTIVE DIRECTOR. THE MOA GIVES THE ORGANIZATION PERMISSION TO DISBURSE FUNDS MAINTAINED BY THE ORGANIZATION FOR DIRECT EXPENSES THE OROGANIZATION INCURS. THE ORGANIZATION MUST PROVIDE CCPS WITH ANNUAL REPORTS REGARDING DONATIONS RECEIVED, INVESTMENT PERFORMANCE, AND THE ORGANIZATION'S OPERATING INCOME AND EXPENSES AND ANY OTHER FINANCIAL INFORMATION REQUESTED BY CCPS. CCPS PROVIDES AND PAYS FOR APPROPRIATE STAFF SUPPORT OF THE ORGANIZATION TO FULFILL ITS ROLE AND RESPONSIBILITIES. STAFFING LEVELS ARE DETERMINED AT THE SOLE AND ABSOLUTE DISCRETION OF CCPS. THE EXECUTIVE DIRECTOR AND THE PRESIDENT OF THE GOVERNING COUNCIL OF CCPS SERVE AS EX-OFFICIO, NON-VOTING MEMBERS OF THE ORGANIZATION'S BOARD OF DIRECTORS TO REPRESENT CCPS AT THE ORGANIZATION'S BOARD MEETINGS AND TO ENSURE THAT THE ORGANIZATION IS ACTING IN ACCORDANCE WITH THE MOA. ALTHOUGH THE FOUNDATION HAS A VOLUNTEER BOARD THAT IS INDEPENDENTLY SELF-ELECTED RATHER THAN APPOINTED OR ELECTED BY CCPS, THE ORGANIZATION'S BOARD IS CONSTRAINED BY ITS OBLIGATIONS UNDER THE MOA. THE BOARD CANNOT TAKE ACTIONS THAT ARE INCONSISTENT WITH CCPS'S POLICIES AND ALL ACTIONS MUST BE FOR CCPS'S BENEFIT. CCPS SETS THE ORGANIZATION'S FUNDRAISING POLICIES AND FUNDING PRIORITIES. IF CCPS DISAGREES WITH ANY OF THE ORGANIZATION'S ACTIONS, CCPS MAY TERMINATE THE MOA, FORCING THE ORGANIZATION TO DISSOLVE AND DISTRIBUTE ITS ASSETS TO CCPS OR A SUCCESSOR ORGANIZATION. THE CONTROL ESTABLISHED IN THE MOA MAKES THE RELATIONSHIP A TYPE 1 SUPPORTING ORGANIZATION. COTTONWOOD CLASSICAL FOUNDATION, INC. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5861868 5861868 13734070 1474809 12259261 81985 38540 43445 18164574 FUNDRAISING - OTHER 21732 21732 4880 NETWORK FOR GOOD 5265 5265 1188 26997 5265 21732 6068 6068 15664 A NM PUBLIC FINANCE AUTHORITY 273866124 2019-12-01 10620000 REFUND ISSUE 0 0 0 B NM PUBLIC FINANCE AUTHORITY 273866124 2019-12-10 2660000 REFUND ISSUE 0 0 0 A 645000 10620000 512596 10107403 2019 1 0 1 1 B 2660000 2660000 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 0 B 0 SCHEDULE K, PART 1, BOND ISSUERS: (A) ISSUER NAME: PUBLIC FINANCE AUTHORITY (F) DESCRIPTION OF PURPOSE: CAPITAL EXPENDITURE BOND - TO ACQUIRE SCHOOL FACILITIES SCHEDULE K, PART V, EXPLANATION: AT THIS TIME THE ORGANIZATION IS LOOKING AT PUTTING INTO PLACE PROCEDURES TO ADDRESS THIS ISSUE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE TREASURER AND THEN PRESENTED TO THE OTHER BOARD MEMBERS FOR APPROVAL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN DISCLOSURE STATEMENTS ANNUALLY. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE BOARD DOES NOT HAVE A SEPARATE COMMITTEE TO OVERSEE THE AUDIT PROCESS, RATHER IT WORKS WITH THE BOARD OF ITS SUPPORTED ORGANIZATION - COTTONWOOD CLASSICAL PREPARATORY CHARTER SCHOOL, AS PART OF ITS CONSOLIDATED AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XII, LINE 2C, EXPLANATION: THE BOARD DOES NOT HAVE A SEPARATE COMMITTEE TO OVERSEE THE AUDIT PROCESS, RATHER IT WORKS WITH THE BOARD OF ITS SUPPORTED ORGANIZATION - COTTONWOOD CLASSICAL PREPARATORY CHARTER SCHOOL, AS PART OF ITS CONSOLDATED AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. COTTONWOOD CLASSICAL PREPATORY CHAPTER SCHOOL 7801 JEFFERSON ST NE ALBUQUERQUE NM 87109 262087410 PUBLIC SCHOOL CLASSIFIED AS A GOVERNMENT ENTITY UNDER IRC SEC 115 NM 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 COTTONWOOD CLASSICAL PREPATORY SCHOOL J 885618 ACTUAL COST