2024-12-20T11:58:52-06:00 2024-06-30 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2023-07-01 873737183 LIBERTY CLASSICAL SCHOOLS FOUNDATION INC LIBE 6786314822 100 GALLERIA PARKWAY SE STE 500 ATLANTA GA 30339 MERRITT HUBER TREASURER 6786314822 2024-12-19 1 1 MARY JO ALEXANDER P00002534 7709558600 2024-12-19 2023 2024-10-15 13:58:12Z X MATTHEW KIRBY 100 GALLERIA PARKWAY SE STE 500 ATLANTA GA 30339 5447445 0 X LIBERTYCLASSICALSCHOOLS.ORG X 2021 GA TO AQUIRE PROPERTY FOR USE BY CERTAIN CLASSICAL K-12 PUBLIC CHARTER SCHOOLS WHO EMPHASIZE VIRTUOUS LIVING, TRADITIONAL LEARNING, AND CIVIC RESPONSIBILITY IN KENNESAW, GA. 3 3 0 3 0 0 0 0 0 5447445 0 0 0 0 0 5447445 0 0 0 0 0 0 0 0 0 0 942786 0 942786 0 4504659 0 36583932 0 32079273 0 4504659 X TO SUPPORT AND FURTHER THE CHARITABLE AND EDUCATIONAL PURPOSES OF CHARTER SCHOOLS IN KENNESAW, GEORGIA, BY ACQUIRING CERTAIN FACILITIES AND REAL PROPERTY LOCATED IN KENNESAW, GEORGIA AND OWNING, HOLDING, OPERATING, MANAGING, DEVELOPING, LEASING, SELLING, CONVEYING, MORTGAGING, AND/OR OTHERWISE DISPOSING OF ALL OR ANY PART OF SUCH FACILITIES AND REAL PROPERTY. 0 0 942786 5447445 DURING THE YEAR ENDED JUNE 30, 2024 THE DEVELOPMENT AUTHORITY OF COBB COUNTY ISSUED REVENUE SERIES 2023 BONDS AND LOANED THE PROCEEDS TO LIBERTY CLASSICAL SCHOOLS FOUNDATION KENNESAW, LLC IN THE AGGREGATE PRINCIPAL AMOUNT OF $28,375,000. THE REVENUE SERIES 2023 BONDS WERE ISSUED TO FACILITATE THE ACQUISITION OF A CHARTER SCHOOL BUILDING AND PROPERTY TO RENT TO ELIGIBLE CHARTER SCHOOLS. THE ORGANIZATION'S LEASING ACTIVITIES CONSIST OF LEASING A BUILDING UNDER A DIRECT FINANCING LEASE EXPIRING IN JUNE 2058. THIS BUILDING IS LEASED TO A CHARTER SCHOOL TO USE AS THEIR PRIMARY SCHOOL LOCATION. THE LEASE DOES NOT PROVIDE AN OPTION FOR THE LESSEE TO PURCHASE THE ASSET OR TO EXTEND THE TERMS. 942786 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 GA X JENNIFER LAI 6786314822 100 GALLERIA PARKWAY SE STE 500 ATLANTA GA 30339 HARRISON COLEMAN CHAIR 2.00 2.00 X X 0 0 0 MERRITT HUBER TREASURER 2.00 2.00 X X 0 0 0 BOBBY JONES MEMBER 2.00 2.00 X 0 0 0 MATTHEW KIRBY CEO / EXECUTIVE DIRECTOR 2.00 38.00 X 0 161417 27398 ROBERT KELLY SECRETARY / CHIEF ADMINISTRATOR 2.00 38.00 X 0 104693 12673 MARK NOLAN CFO 2.00 38.00 X 0 97117 15493 0 363227 55564 0 0 1 0 0 INCOME FROM DIRECT FIN 531120 5447445 5447445 5447445 5447445 5447445 0 0 923799 923799 18987 18987 942786 942786 0 0 7456152 0 29127780 0 36583932 4731828 27347445 0 32079273 X 0 4504659 0 4504659 0 36583932 4504659 0 X X 0 1 X 1 0 X 0 0 0 5447445 X 0 MINIMUM LEASE PAYMENTS RECEIVABLE 29127780 29127780 X PART X, LINE 2: THE FOUNDATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN INTERNAL REVENUE CODE SECTION 501(C)(3) AND HAS BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS A PUBLICLY SUPPORTED ORGANIZATION AND NOT AS A PRIVATE FOUNDATION. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE FOUNDATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE FOUNDATION FOLLOWS THE STATUTORY REQUIREMENTS FOR ITS INCOME TAX ACCOUNTING AND GENERALLY AVOIDS RISKS ASSOCIATED WITH POTENTIALLY PROBLEMATIC TAX POSITIONS THAT MAY BE CHALLENGED UPON EXAMINATION. MANAGEMENT BELIEVES ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING ADDITIONAL INCOME TAXES FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE FOUNDATION'S TAX-EXEMPT STATUS WOULD NOT HAVE A MATERIAL EFFECT ON THE FOUNDATION'S CONSOLIDATED FINANCIAL STATEMENTS. FORM 990, PART X THERE ARE NO UNCERTAIN TAX LIABILITIES AT DECEMBER 31, 2023 UNDER FIN 48 (ASC 740). 0 0 0 0 0 0 0 0 0 MATTHEW KIRBY CEO / EXECUTIVE DIRECTOR 0 160417 0 1000 0 0 0 0 0 27398 0 188815 0 0 A DEVELOPMENT AUTHORITY OF COBB COUNTY 581522881 190779AJ7 2023-12-21 27916740 CHARTER FACILITY (NCA PROJECT), SERIES 2023A BONDS 0 0 0 A 28065000 2055066 558334 0 0 0 0 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 1 A 1 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WAS REVIEWED BY THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY PREVENTS INAPPROPRIATE PRIVATE INTERESTS. TO ENSURE COMPLIANCE, OUR ORGANIZATION FOLLOWS THESE STEPS: 1. AT THE START OF EACH FISCAL YEAR, EVERY BOARD MEMBER MUST FILL OUT A "CONFLICT OF INTEREST" FORM WITH A SERIES OF QUESTIONS CONFIRMING THE ABSENCE OF ANY CONFLICTS. 2. THROUGHOUT THE YEAR, WE PROVIDE TRAINING SESSIONS THAT REINFORCE OUR POLICY AND INCREASE AWARENESS OF POTENTIAL CONFLICT SITUATIONS. 3. WE HAVE ESTABLISHED EFFICIENT PROCEDURES FOR RESOLVING ANY CONFLICT-OF-INTEREST SITUATIONS SHOULD THEY ARISE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE TO THE ORGANIZATION'S OVERSIGHT OR REVIEW PROCESS. LIBERTY CLASSICAL SCHOOLS FOUNDATION KENNESAW LLC 100 GALLERIA PARKWAY SUITE 500 ATLANTA GA 30339 LEASE AND RENTAL AGREEMENTS GA 5447445 36584032 LIBERTY CLASSICAL SCHOOLS FOUNDATION INC LIBERTY CLASSICAL SCHOOLS EDUCATIONAL SERVICES INC 100 GALLERIA PARKWAY SUITE 500 ATLANTA GA 30339 873737445 CHARTER SCHOOL MANAGEMENT GA 501(C)(3) LINE 7 LIBERTY CLASSICAL SCHOOLS FOUNDATION INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0