2024-03-20T08:35:23-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2022-07-01 383773629 CHESTERTON ACADEMY CHES 9523781779 1320 MAINSTREET HOPKINS MN 55343 JAY WARD CHAIRMAN 9523781779 2024-03-13 1 JAY WARD 999009999 0 SARAH REICHLING P01587996 6123764500 2024-02-29 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JAY WARD 1320 MAINSTREET HOPKINS MN 55343 3671166 0 X WWW.CHESTERTONACADEMY.ORG X 2008 MN PRO-FAMILY CATHOLIC HIGH SCHOOL OFFERING AN INTEGRATED COLLEGE PREPARATORY CLASSICAL CURRICULUM. 8 8 32 60 0 0 1067413 2079211 1265062 1366541 27636 41570 70855 64166 2430966 3551488 288894 257959 0 0 1115637 1295206 0 0 208646 681949 819364 2086480 2372529 344486 1178959 1492407 2826314 72988 165811 1419419 2660503 X THE PURPOSE OF CHESTERON ACADEMY IS TO NURTURE THE MINDS AND THE SOULS OF OUR CHILDREN THROUGH AN INTEGRATED EDUCATION. WE BELIEVE THAT ALL TRUTHS ARE RELATED TO THE CENTRAL TRUTH OF THE INCARNATION, CRUCIFIXION, AND THE RESURRECTION OF JESUS CHRIST. FAITH AND REASON DO NOT CONTRADICT ONE ANOTHER, NOR ARE THEY TO BE SEGREGATED FROM ONE ANOTHER. THROUGH THE STUDY OF ART, MUSIC, LITERATURE, LANGUAGE, HISTORY, MATH, SCIENCE, PHILOSOPHY, AND RELIGION, WE WANT TO PREPARE OUR CHIDREN TO THINK BOTH RATIONALLY AND CREATIVELY, TO DEFEND THEIR FAITH, TO CONTRIBUTE POSITIVELY TO SOCIETY AND TO PROMOTE A CULTURE OF LIFE. 0 0 1841354 257959 1366541 RUNNING A PRIVATE INDEPENDENT CATHOLIC HIGH SCHOOL THAT TEACHES A CLASSICAL CURRICULUM BASED ON THE CATHOLIC FAITH. THERE ARE 140 STUDENTS IN GRADES 9-12. 1841354 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 0 1 0 0 0 0 0 0 0 0 0 0 0 1 21 0 32 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 8 8 1 0 0 0 0 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 MN X CHRISTOPHER OLLEY 9523781779 1320 MAINSTREET HOPKINS MN 55353 JAY WARD BOARD PRESIDENT 1.00 X X 0 0 0 DALE AHLQUIST DIRECTOR 1.00 X 0 0 0 KATHERINE KERSTEN DIRECTOR 1.00 X 0 0 0 NATHAN METZINGER DIRECTOR 1.00 X 0 0 0 CASEY SCOTT DIRECTOR 1.00 X 0 0 0 TOM SCHULZETENBERG DIRECTOR 1.00 X 0 0 0 MATT SAXE DIRECTOR 1.00 X 0 0 0 JEFF CAMPBELL DIRECTOR 1.00 X X 0 0 0 CHRISTOPHER OLLEY HEADMASTER 40.00 X 106820 0 0 106820 0 0 1 0 0 0 0 308997 1770214 2079211 INSTRUCTIONAL/TUITION 611110 1281157 1281157 SCHOOL ACTIVITIES 611110 85384 85384 1366541 28470 28470 13100 0 13100 13100 13100 144384 308997 107728 36656 36656 39460 11950 27510 27510 3551488 1366541 0 105736 257959 257959 132000 33000 99000 1066859 895624 121128 50107 3476 2597 447 432 92871 69380 11940 11551 105654 105654 7775 5389 1543 843 23167 3845 19322 38615 21233 12682 4700 9422 9194 116 112 403520 361658 27512 14350 2510 1875 323 312 37292 27860 4794 4638 15492 11573 1992 1927 STUDENT ACTIVITES 165045 165045 DUES AND SUBSCRIPTIONS 5926 4427 762 737 MISCELLANEOUS EXPENSE 4946 3695 636 615 2372529 1841354 322529 208646 250168 259600 464034 388208 30721 0 2624 1755 18941 326359 249287 91917 131510 157370 594409 1693022 1492407 2826314 23136 77261 49852 88550 72988 165811 X 1027674 1266035 391745 1394468 1419419 2660503 1492407 2826314 1178959 62125 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 129941 926656 56056 1112653 145370 -15429 129941 97712 20000 29958 2300 145370 100000 -2288 97712 0.06470 0.89570 0.03960 0 0 145380 35105 110275 103907 56812 47095 157370 X 3357212 62125 1558 63683 3293529 257959 257959 3551488 2116128 1558 1558 2114570 257959 257959 2372529 PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SCHOOL IS ALSO EXEMPT FROM STATE INCOME TAXES. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. IN ACCORDANCE WITH THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, THE SCHOOL ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERIT OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE SCHOOL AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME. THERE WERE NO SIGNIFICANT UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES DURING FISCAL YEAR 2023 OR 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 257,959. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 257,959. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE NON-DISCRIMINATION POLICY IS AVAILABLE TO THE PUBLIC ON THE CLIENT'S WEBSITE. SCHEDULE E, PART I, LINE 6 THE SCHOOL IS REIMBURSED BY THE MINNESOTA DEPARTMENT OF EDUCATION FOR EXPENDITURES INCURRED IN PROVIDING PUPILS TEXTBOOKS, STANDARDIZED TESTS, AND INDIVIDUAL INSTRUCTIONAL MATERIALS, PUPIL HEALTH SERVICES, AND SECONDARY PUPIL GUIDANCE AND COUNSELING SERVICES. ANNUAL GALA 453381 308997 144384 83552 2500 21676 453381 308997 144384 83552 2500 21676 107728 36656 39460 11950 0 0.50000 39460 11950 11950 27510 MN 1 0 1 0 1.00000 CHRISTOPHER OLLEY 1320 MAINSTREET HOPKINS MN 55343 0 CHRISTOPHER OLLEY 0 CHRISTOPHER OLLEY IS THE HEADMASTER OF CHESTERTON ACADEMY AND AS SUCH HE OVERSEES THE FUNDRAISING EVENTS WITH THE GAMING. X 0 1 FINANCIAL AID 57 257959 N/A DISCOUNTED TUITION TO ELIGIBLE STUDENTS. PART I, LINE 2: CHESTERTON ACADEMY USES THE SERVICES OF TADS (A THIRD-PARTY TUITION AND FINANCIAL AID ASSESSMENT PROVIDER) TO ENSURE THAT FINANCIAL AID IS DISTRIBUTED FAIRLY. FAMILIES MAY INDICATE THEIR NEED FOR FINANCIAL AID DURING THE ONLINE APPLICATION PROCESS, AND THE FINANCIAL AID APPLICATION PROCESS ALSO COMPLETED VIA TADS. CHESTERTON ACADEMY AWARDS FINANCIAL AID TO FAMILIES BASED ON CALCULATED NEED. FINANCIAL AID IS AWARDED AS A TUITION CREDIT AND IS MANAGED ON A MONTHLY BASIS THROUGH TADS' TUITION MANAGEMENT SERVICE. CASEY SCOTT BOARD MEMBER AND FINANCE COMMITTEE MEMBER 1693022 INVESTMENT ACCOUNTS KEPT AT AND MANAGED BY CCF, WHERE CASEY IS VP OF FINANCE AND ADMINISTRATION 0 FORM 990, PART VI, SECTION A, LINE 2 JAY WARD AND CASEY SCOTT HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 7A AT ALL TIMES, THE BOARD SHALL EXERT ITS BEST EFFORTS TO ENSURE THAT IT INCLUDES TWO MEMBERS FROM THE BOARD OF DIRECTORS OF THE SOCIETY OF GILBERT KEITH CHESTERTON. IN ADDITION, THE ARCHBISHOP OF THE ARCHDIOCESE OF ST. PAUL AND MINNEAPOLIS MUST APPROVE ALL INDIVIDUALS PUT FORTH FOR THE APPOINTMENT TO THE BOARD OF DIRECTORS. IN ADDITION, ANY MEMBER OF THE BOARD OF DIRECTORS MAY BE REMOVED BY THE ARCHBISHOP OF THE ARCHDIOCESE OF ST. PAUL AND MINNEAPOLIS. FORM 990, PART VI, SECTION A, LINE 7B ANY AMENDMENT TO THE BYLAWS MUST BE APPROVED IN WRITING BY THE ARCHBISHOP OF THE ARCHDIOCESE OF ST. PAUL AND MINNEAPOLIS IF THE AMENDMENT RELATES TO THE DISSOLUTION, MERGER, CONSOLIDATION OR TRANSFER OF ASSETS OR ACTIVITIES, COMPOSITION OF THE BOARD OF DIRECTORS AND OTHER AREAS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE RETURN IS PREPARED AND REVIEWED BY MANAGEMENT, ANY CHANGES ARE INCORPORATED INTO THE DOCUMENT BEFORE THE FULL COPY OF THE FORM 990 IS THEN REVIEWED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE CHESTERTON ACADEMY BOARD WORKS TO ENSURE THAT BOARD MEMBERS, FACULTY, AND STAFF AVOID PLACING THEMSELVES IN POSITIONS IN WHICH THEIR PERSONAL INTERESTS ARE, OR MAY BE, IN CONFLICT WITH THE INTERESTS OF THE SCHOOL. WHERE A POTENTIAL CONFLICT OF INTEREST EXISTS, IT IS THE RESPONSIBILITY OF THE PERSON INVOLVED OR ANY OTHER PERSON WITH KNOWLEDGE TO NOTIFY THE BOARD OF CIRCUMSTANCES RESULTING IN THE POTENTIAL CONFLICT SO THAT THE BOARD CAN REVIEW THE INFORMATION AND TAKE ACTION AS IT SHALL DEEM APPROPRIATE. THIS REVIEW SHALL BE DOCUMENTED WITHIN THE BOARD'S MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 DURING THE BUDGETING PROCESS IN JANUARY OF EACH ACADEMIC YEAR, THE HEADMASTER AND BUSINESS MANAGER SUBMIT A PROPOSED BUDGET FOR SCHOOL OPERATIONS INCLUDING SALARIES. THE BUDGET IS REVIEWED FIRST BY THE FINANCE COMMITTEE AND THEN REVIEWED AND APPROVED BY THE FULL BOARD. RECOMMENDATIONS ARE BASED IN PART ON BENCHMARK DATA FROM NATIONAL ORGANIZATIONS OF PRIVATE AND INDEPENDENT CATHOLIC SCHOOLS. APPROVAL OF THE BUDGET IS RECORDED IN BOARD MEETING MINUTES; STAFF REVIEWS ARE CONDUCTED IN EXECUTIVE SESSION. OFFICERS WHO RECEIVE COMPENSATION ARE NON-VOTING, EX-OFFICIO MEMBERS OF THE BOARD, AND THEREFORE DO NOT VOTE ON THEIR OWN SALARIES OR ATTEND EXECUTIVE SESSION DELIBERATIONS. THIS IS AN ANNUAL PROCESS AND WAS LAST CONDUCTED IN MAY 2023. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE OVERSIGHT PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.