2024-05-13T13:20:39-05:00 2023-06-30 561965804 THOMAS JUDY & TUCKER PA 300 WEST MORGAN STREET SUITE 1450 DURHAM NC 27701 990 2022-07-01 560538019 DURHAM ACADEMY INC DURH 9194900193 3130 PICKETT ROAD DURHAM NC 27705 MICHAEL ULKU-STEINER HEAD OF SCHOOL 9194900193 2024-05-13 1 MICHAEL ULKU-STEINER 999009999 0 KRISTEN HOYLE CPA P00118964 9195717055 2024-05-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MICHAEL ULKU-STEINER 3130 PICKETT ROAD DURHAM NC 27705 61390641 0 X WWW.DA.ORG X 1961 NC THE PURPOSE OF DURHAM ACADEMY IS TO PROVIDE EACH STUDENT AN EDUCATION THAT WILL ENABLE HIM OR HER TO LIVE A MORAL, HAPPY AND PRODUCTIVE LIFE. THE DEVELOPMENT OF INTELLECT IS CENTRAL TO SUCH A LIFE AND, THUS, INTELLECTUAL ENDEAVOR AND GROWTH ARE THE PRIMARY WORK OF THE SCHOOL. THE ACQUISITION OF KNOWLEDGE; THE DEVELOPMENT OF SKILLS, CRITICAL JUDGMENT AND INTELLECTUAL CURIOSITY; AND INCREASED UNDERSTANDING ARE THE GOALS OF THE SCHOOL'S ACADEMIC PROGRAM. 23 23 622 970 3597 2597 3696412 3115590 36883035 38263871 116521 990180 197124 223361 40893092 42593002 2632956 2498814 0 0 23774058 25625206 0 0 1103444 9778673 11701165 36185687 39825185 4707405 2767817 112409131 116101697 31364437 30492443 81044694 85609254 X THE PURPOSE OF DURHAM ACADEMY IS TO PROVIDE EACH STUDENT AN EDUCATION THAT WILL ENABLE HIM OR HER TO LIVE A MORAL, HAPPY AND PRODUCTIVE LIFE. THE DEVELOPMENT OF INTELLECT IS CENTRAL TO SUCH A LIFE AND, THUS, INTELLECTUAL ENDEAVOR AND GROWTH ARE THE PRIMARY WORK OF THE SCHOOL. THE ACQUISITION OF KNOWLEDGE; THE DEVELOPMENT OF SKILLS, CRITICAL JUDGMENT AND INTELLECTUAL CURIOSITY; AND INCREASED UNDERSTANDING ARE THE GOALS OF THE SCHOOL'S ACADEMIC PROGRAM. 0 0 29995621 2498814 38438201 DURHAM ACADEMY PROVIDES SCHOOLING FOR PRE-SCHOOL THROUGH TWELFTH GRADE STUDENTS. 29995621 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 1 1 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 1 107 0 622 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ADAM BRAUDE 9192871713 3130 PICKETT ROAD DURHAM NC 27705 JAMIE SPATOLA BOARD MEMBER 1.00 X 0 0 0 HOBSON HOGAN BOARD MEMBER 1.00 X 0 0 0 STERLING INGUI BOARD MEMBER 1.00 X 0 0 0 MEREDITH HOWELL BOARD MEMBER 1.00 X 0 0 0 RASNA PRAKASH BOARD MEMBER 1.00 X 0 0 0 BRYAN BRANDER BOARD MEMBER 1.00 X 0 0 0 ASHLEY FREEDMAN BOARD MEMBER 1.00 X 0 0 0 JENNIFER BULLOCK BOARD MEMBER 1.00 X 0 0 0 DELORES MOORE BOARD MEMBER 1.00 X 0 0 0 MELISSA PFEIL BOARD MEMBER 1.00 X 0 0 0 CAROLINE ROGERS BOARD MEMBER 1.00 X 0 0 0 RANDY GELBER BOARD MEMBER 1.00 X 0 0 0 ASHLEY YETMAN BOARD MEMBER 1.00 X 0 0 0 NINA KING BOARD MEMBER 1.00 X 0 0 0 PAUL CASEY BOARD MEMBER 1.00 X 0 0 0 CHRISTIAN LUNDBLAD BOARD MEMBER 1.00 X 0 0 0 DAN GONZALEZ BOARD MEMBER 1.00 X 0 0 0 CHUCK LOVELACE SECRETARY 2.00 X X 0 0 0 KAVITA NAYAR TREASURER 2.00 X X 0 0 0 DEBBIE DIBBERT VICE CHAIR 2.00 X X 0 0 0 EDWIN POSTON CHAIR 2.00 X X 0 0 0 ASHINI FERNANDO BOARD MEMBER 1.00 X 0 0 0 SELENA KEEGAN BOARD MEMBER 1.00 X 0 0 0 MICHAEL ULKU-STEINER EX OFFICIO DURHAM ACADEMY HEAD OF SCHOOL 40.00 X 404071 0 68090 KRISTEN KLEIN ASSOCIATE HEAD OF SCHOOL 40.00 X 193410 0 9705 GERALD BENSON DIRECTOR OF BUSINESS SERVICES 40.00 X 326403 0 6767 VICTORIA MURADI DIRECTOR OF STRATEGIC INITIATIVES 40.00 X 176065 0 8170 JONATHAN M MEREDITH DIRECTOR OF MIDDLE SCHOOL 40.00 X 163325 0 11665 LANIS WILSON DIRECTOR OF UPPER SCHOOL 40.00 X 157140 0 7712 CAROLYN RONCO DIRECTOR OF LOWER SCHOOL 40.00 X 153377 0 7709 MICHAEL SMITH DIRECTOR OF FACILITIES SERVICES 40.00 X 151180 0 7712 KEMI NONEZ DIRECTOR OF ENROLLMENT MANGEMENT 40.00 X 134274 0 7712 TREVOR HOYT DIRECTOR OF TECHNOLOGY 40.00 X 128177 0 9545 ANDY POGACH DIRECTOR OF ATHLETICS 40.00 X 123739 0 7709 KARL SCHAEFER MS STEAM TEACHER 40.00 X 121367 0 4619 VERLE REGNERUS US MATH TEACHER/ADVISOR 40.00 X 120108 0 7712 2352636 0 164827 29 0 1 0 CT WILSON CONSTRUCTION CO PO BOX 2011 DURHAM NC 27702 CONSTRUCTION 11814593 CENPLEX BUILDING SERVICES LLC 2400 RELIANCE AVENUE SUITE B APEX NC 275397010 CLEANING 444418 KREUGER INTERNATIONAL INC PO BOX 737048 DALLAS TX 75373 EQUIPMENT/FURNITURE 380639 CANNON ARCHITECTS 401 N WEST STREET RALEIGH NC 27603 ARCHITECTURE 242366 TEMPERATURE CONTROL SERVICES PO BOX 749 CREEDMORE NC 27522 HVAC CONTRACTOR 145642 5 3115590 202378 3115590 TUITION AND FEES 611110 36081680 36081680 SUMMER SCHOOL REVENUE 611110 1392087 1392087 STUDENT ACTIVITIES 611110 404332 404332 NEW STUDENT FEES 611110 385772 385772 38263871 945423 945423 58900 19467 39433 39433 39433 18650292 3597 18609132 0 41160 3597 44757 3597 41160 17011 7413 9598 9598 237937 161627 76310 76310 HILL CENTER FEES 900099 49372 49372 OTHER 900099 31566 31566 FINES AND ASSESSMENTS 900099 17082 17082 98020 42593002 38438201 3597 1035614 2498814 2498814 2048377 1474831 512095 61451 17146604 12305656 4297395 543553 956809 686782 239773 30254 3919107 2852508 947305 119294 1554309 1115851 389453 49005 35837 35837 70800 70800 90000 90000 16400 16400 123432 112456 10976 511619 228366 190625 92628 435296 299245 136051 2390066 1912053 430212 47801 564822 505394 59428 2659111 2127289 478640 53182 147089 147089 SUPPLIES AND CONTRIBUTI 2660243 2436979 208698 14566 DEBT SERVICE 791738 633390 142513 15835 SUMMER EXPENSES 515227 515227 RECRUITING EXPENSE 207681 207681 481804 127291 289614 64899 39825185 29995621 8726120 1103444 2300598 434221 2066345 379745 3922059 3050866 434698 744937 27869 35765 722005 333323 109452788 42411470 55726850 67041318 45099079 41201021 2109628 2880501 112409131 116101697 1861133 2450796 4023862 4641733 17979442 15899914 7500000 7500000 31364437 30492443 X 62335594 68511477 18709100 17097777 81044694 85609254 112409131 116101697 X 2767817 1800340 -3597 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14153273 128619 1954343 470482 15765953 15984170 37107 -1516511 351493 14153273 13351046 70545 2901296 279975 58742 15984170 13602525 118770 -133659 121590 115000 13351046 13156279 172040 506668 172462 60000 13602525 0.18528 0.54153 0.27319 0 0 3076582 3076582 82979480 21747689 61231791 14616503 12633252 1983251 8780223 8030529 749694 67041318 X 41989438 1800340 184910 1985250 40004188 90000 2498814 2588814 42593002 37424878 188507 188507 37236371 90000 2498814 2588814 39825185 PART V, LINE 4: THE ENDOWMENT FUNDS IS AN INVESTMENT TOOL TO HOLD FUNDS TO BE USED TOWARDS THE SCHOOLS PROGRAMS. PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ACADEMY AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ACADEMY HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ACADEMY, AND HAS CONCLUDED THAT AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ACADEMY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 7,413. COST OF GOODS SOLD 161,627. RENTAL EXPENSE 19,467. K-1 INCOME -3,597. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, REPORTED NET OF TUITION ON FINANCIAL STATEMENTS 2,498,814. GAIN ON SALE OF ASSET PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 7,413. COST OF GOODS SOLD 161,627. RENTAL EXPENSE 19,467. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, REPORTED NET OF TUITION ON FINANCIAL STATEMENTS 2,498,814. GAIN ON SALE OF ASSET 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 LOCAL NEWSPAPERS AND TRADE PUBLICATIONS ANNUAL RUN 17011 17011 7413 17011 17011 7413 7413 9598 1 STUDENT FINANCIAL AID 111 2498814 FMV SCHOLARSHIPS AND DISCOUNTED TUITION PART I, LINE 2: DURHAM ACADEMY HAS MORE THAN $2 MILLION OF NEED-BASED FINANCIAL AID AVAILABLE. THE SCHOOL DETERMINES A FAMILY'S ABILITY TO PAY TUITION WITH THE HELP OF AN INDEPENDENT THIRD PARTY, TUITION AID DATA SERVICES (TADS). THE RESULTS OF THE TADS FORMULA ARE CONSIDERED BY DA'S FINANCIAL AID COMMITTEE, WHICH THEN DETERMINES WHETHER AID IS TO BE GRANTED AND HOW MUCH AID TO GRANT. FINANCIAL AID NEED IS CALCULATED BY TADS WITHOUT REGARD TO RACE, GENDER, ABILITY, ETHNICITY OR RELIGION. X 1 0 X X X 0 0 0 0 0 0 0 0 0 MICHAEL ULKU-STEINER EX OFFICIO DURHAM ACADEMY HEAD OF SC 404071 0 0 0 0 0 57006 0 11084 0 472161 0 0 0 GERALD BENSON DIRECTOR OF BUSINESS SERVICES 326403 0 0 0 0 0 0 0 6767 0 333170 0 0 0 KRISTEN KLEIN ASSOCIATE HEAD OF SCHOOL 193410 0 0 0 0 0 0 0 9705 0 203115 0 0 0 VICTORIA MURADI DIRECTOR OF STRATEGIC INITIATIVES 176065 0 0 0 0 0 0 0 8170 0 184235 0 0 0 JONATHAN M MEREDITH DIRECTOR OF MIDDLE SCHOOL 163325 0 0 0 0 0 0 0 11665 0 174990 0 0 0 LANIS WILSON DIRECTOR OF UPPER SCHOOL 157140 0 0 0 0 0 0 0 7712 0 164852 0 0 0 CAROLYN RONCO DIRECTOR OF LOWER SCHOOL 153377 0 0 0 0 0 0 0 7709 0 161086 0 0 0 MICHAEL SMITH DIRECTOR OF FACILITIES SERVICES 151180 0 0 0 0 0 0 0 7712 0 158892 0 0 0 PART I, LINE 1A HEAD OF SCHOOL, MICHAEL ULKU-STEINER RECEIVED A HOUSING ALLOWANCE WHICH WAS TAXABLE. A PUBLIC FINANCE AUTHORITY 273866124 2017-04-15 25570000 TO REFUND A PRIOR ISSUE (2013) AND FUND NEW CAPITAL PROJECTS 0 0 0 A 25390000 144516 15830000 1 0 0 0 A 0 0 0 0 1 0 0 0 1 A 1 BOARD MEMBERS OR EMPLOYEES PERSON ON BOARD MEMBER OR EMPLOYEE OF THE ORGANIZATION 191960 DISCOUNTED TUITION PROVIDING OFFICERS AND KEY EMPLOYEES WITH DISCOUNTED STUDENT TUITION. CHARLIE WILSON FORMER BOARD MEMBER 11814593 DURHAM ACADEMY PAYS C.T. WILSON CONSTRUCTION FOR CONSTRUCTION PROJECTS. 0 X 30 202378 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED BY THE HEAD OF SCHOOL, DIRECTOR OF BUSINESS SERVICES AND FINANCE COMMITTEE. THE FINANCE COMMITTEE WILL APPROVE THE DRAFT INCLUDING ANY IDENTIFIED CHANGES AS A RESULT OF THIS REVIEW. THE FINAL FORM 990 TAX RETURN WILL BE SIGNED BY THE HEAD OF SCHOOL AND A COPY OF THE APPROVED RETURN WILL BE PROVIDED TO ALL OF THE OFFICERS, DIRECTORS AND TRUSTEES BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ANY MEMBER OF THE BOARD OF TRUSTEES SHALL DISCLOSE TO THE BOARD ANY RELATIONSHIP WHICH HE/SHE MAY HAVE WITH ANY PERSON, CORPORATION OR OTHER ENTITY WITH WHOM THE SCHOOL PROPOSES TO ENTER INTO ANY CONTRACT OR OTHER TRANSACTION WHICH WILL OR MAY RESULT IN FINANCIAL GAIN OR ADVANTAGE TO SUCH BOARD MEMBERS BY REASON OF SUCH RELATIONSHIP. IF IT APPEARS THAT A BOARD MEMBER HAS FAILED TO MAKE DISCLOSURE BEFORE THE SCHOOL ENTERS INTO SUCH CONTRACT OR TRANSACTION, THE BOARD MAY REMOVE SUCH TRUSTEE BY VOTE OF A SIMPLE MAJORITY OF THE TRUSTEES THEN IN OFFICE, AT ANY MEETING IN WHICH A QUORUM IS PRESENT. IF ANY TRUSTEE IS SO REMOVED A NEW TRUSTEE MAY BE ELECTED AT THE SAME MEETING OR AT A SUBSEQUENT MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S HEAD OF SCHOOL INCLUDES ALL OF THESE ELEMENTS: THE REVIEW AND APPROVAL BY THE BOARD, USE OF DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS, AND WRITTEN EMPLOYMENT CONTRACT AND CONTEMPORANEOUS RECORDS. FORM 990, PART VI, SECTION C, LINE 19 ALL AUDITED FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND POLICIES ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: K-1 INCOME -3,597. FORM 990, PART XII LN 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.