2024-04-11T11:48:48-05:00 2023-06-30 141918990 TEMPLETON & COMPANY LLP 222 LAKEVIEW AVENUE SUITE 1200 WEST PALM BEACH FL 33401 990 2022-07-01 591298881 THE KING'S ACADEMY INC KING 5616864244 8401 BELVEDERE ROAD WEST PALM BEACH FL 33411 RANDAL MARTIN PRESIDENT 5616864244 2024-04-11 1 RANDAL MARTIN XXX-XX-XXXX 1 RICHARD JUBACK P00630706 5617989988 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RANDAL MARTIN 8401 BELVEDERE ROAD WEST PALM BEACH FL 33411 47090871 0 X WWW.TKA.NET X 1970 FL EDUCATION - NON-PROFIT CHRISTIAN SCHOOL. 7 6 456 200 0 0 6038081 5840216 33560041 39614759 1196130 33849 311453 280138 41105705 45768962 6332755 9270182 0 0 14430599 15722080 0 0 604437 14056540 16902824 34819894 41895086 6285811 3873876 71507499 77752133 29313194 29767532 42194305 47984601 X THE KING'S ACADEMY EXISTS TO ASSIST THE HOME AND CHURCH IN THEIR ENDEAVOR TO "TRAIN UP A CHILD IN THE WAY HE SHOULD GO" (PROVERBS 22:6). ITS MISSION IS TO SHARE SALVATION THROUGH JESUS CHRIST AND TO GRADUATE CHRISTIAN LEADERS WHO SEEK TO IMPACT THEIR WORLD FOR THE KING OF KINGS THROUGH ACADEMIC EXCELLENCE AND SPIRITUAL VITALITY. 0 0 37415694 9270182 39894897 COMPREHENSIVE EDUCATION PROGRAM - PRESCHOOL THROUGH GRADE TWELVE, SERVING APPROXIMATELY 1,650 STUDENTS. 37415694 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 1 1 1 1 1 0 0 0 1 0 0 0 0 1 93 1 456 1 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X X PETER WELLMAN 5616864244 8401 BELVEDERE ROAD WEST PALM BEACH FL 33411 STEVE RASMUSSEN CHAIR 1.00 X X 0 0 0 ERIC ENGSTROM VICE CHAIR/TREASURER 1.00 X X 0 0 0 MEG PERCY SECRETARY 1.00 X X 0 0 0 JERRY Y BELL DIRECTOR 1.00 X 0 0 0 DR CLYDE S MECKSTROTH DIRECTOR 1.00 X 0 0 0 DAVID DREYER DIRECTOR 1.00 X 0 0 0 RANDAL MARTIN PRESIDENT 60.00 X X 292988 0 23988 JEFFREY M LOVELAND CHIEF OPERATING OFFICER 40.00 X 142777 0 13201 PETER N WELLMAN CHIEF FINANCIAL OFFICER 40.00 X 111143 0 0 DOUGLAS RAINES V.P & HEADMASTER 60.00 X 216843 0 23501 ADAM MILLER ELEMENTARY PRINCIPAL 40.00 X 118646 0 0 JENNIFER CEPPO DIR. OF PROGRAM INNOVATION & NON-TRADITIONAL LEARN 40.00 X 120312 0 0 ADAM WINTERS ATHLETIC DIRECTOR 40.00 X 114219 0 0 ROSARIO LARSON DEVELOPMENT DIRECTOR 40.00 X 125504 0 0 DEBORAH J RANTIN HIGH SCHOOL PRINCIPAL 40.00 X 122446 0 0 1364878 0 60690 9 0 1 0 0 5840216 41732 5840216 ACADEMIC PROGRAM TUITION AND FEES 611600 37892698 37892698 AUXILIARY SERVICES 611600 1722061 1722061 39614759 367422 367422 635338 968911 -333573 -333573 -333573 633136 352998 280138 280138 45768962 39894897 0 33849 9270182 9270182 833307 395139 389213 48955 12244946 10406002 1624853 214091 639313 542045 80102 17166 1061599 781713 255832 24054 942915 790627 133532 18756 65253 65253 65676 49506 16170 276906 106097 112099 58710 263965 238323 12282 13360 4242945 4085966 137716 19263 237895 237895 565791 337867 184140 43784 700172 658299 37818 4055 3619461 3403002 195496 20963 740959 708086 29690 3183 SCHOOL SUPPLIES, MATERI 5247184 4917341 329839 4 PROFESSIONAL FEES 526604 213608 270920 42076 TRANSPORTATION 273996 273996 OTHER COSTS 76017 76017 41895086 37415694 3874955 604437 10168142 6622357 1877004 3746533 61938 58750 11793 5312 318012 626249 427804 323220 81707615 28180567 46623947 53527048 11905138 12745662 113721 97002 71507499 77752133 2278343 3183591 9678360 10753132 14341530 13066236 2172679 2547571 842282 217002 29313194 29767532 X 27771321 33163987 14422984 14820614 42194305 47984601 71507499 77752133 3873876 1809435 41732 65253 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 16240386 4467314 1825784 5363875 17169609 18049527 5340043 -1984693 5164491 16240386 11818719 4131159 3353586 1253937 18049527 4961319 8557195 334281 2034076 11818719 2506440 2911661 220357 677139 4961319 0.13680 0.86320 0 0 4356204 4356204 55882598 16540537 39342061 8234407 2421385 5813022 13234406 9218645 4015761 53527048 MUTUAL FUNDS 6967846 F EQUITY SECURITIES 5777816 F 12745662 OPERATING LEASE LIABILITIES 97002 OTHER LIABILITIES 120000 217002 X 38702945 1874688 41732 352998 2269418 36433527 65253 9270182 9335435 45768962 32912649 352998 352998 32559651 65253 9270182 9335435 41895086 PART X, LINE 2: THE KING'S ACADEMY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES AS AN EDUCATIONAL INSTITUTION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE SCHOOL IS REQUIRED TO OPERATE IN CONFORMITY WITH THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) TO MAINTAIN ITS EXEMPT STATUS. PRESCHOOL, SANSBURYS WAY HOME, OLD BRIDGE ROAD HOME, ROCK TERRACE HOME, 9226 NUGENT HOME, AND 9081 NUGENT HOME ARE WHOLLY-OWNED BY THE KING'S ACADEMY AND ARE DISREGARDED ENTITIES FOR INCOME TAX PURPOSES. MANAGEMENT ANALYZES TAX POSITIONS IN JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS. INTEREST AND PENALTIES ATTRIBUTABLE TO INCOME TAXES, IF ANY, ARE INCLUDED IN OPERATING EXPENSES. NO SUCH INTEREST OR PENALTIES WERE RECORDED FOR THE FISCAL YEARS 2023 OR 2022. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE YEARS BEFORE 2020. BASED ON ITS EVALUATION, MANAGEMENT DID NOT IDENTIFY ANY TAX POSITIONS FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAXES WILL SIGNIFICANTLY INCREASE OR DECREASE. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 352,998. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 9,270,182. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 352,998. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 9,270,182. SCHEDULE D, PART V, LINE 4: THE INTENDED PURPOSE OF THE SCHOOL'S ENDOWMENT FUNDS IS TO SUPPORT THE EDUCATIONAL PURPOSE OF THE SCHOOL BY GIVING FINANCIAL ASSISTANCE TO STUDENTS WITH DEMONSTRATED FINANCIAL NEEDS; TO PROVIDE CONTINUING AND POST-GRADUATE EDUCATION TO FACULTY MEMBERS; AND TO INCREASE THE FINANCIAL STABILITY OF THE SCHOOL THROUGH DEBT REDUCTION. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE KING'S ACADEMY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, OR NATIONAL AND ETHNIC ORIGIN AND INCLUDES SUCH A STATEMENT IN ITS PUBLISHED MEDIA. 1 FINANCIAL ASSISTANCE SCHOLARSHIP AND TUITION ALLOWANCES 394 9270182 COST OF ATTENDANCE TUITION ASSISTANCE PART I, LINE 2: FUNDS FOR FINANCIAL ASSISTANCE ARE GIVEN BASED ON FINANCIAL NEED AND A SET FORMULA BASED ON THE NUMBER OF YEARS THAT THE STUDENT HAS ATTENDED THE KING'S ACADEMY. REPORTS ON FINANCIAL AID ARE PREPARED BY THE KING'S ACADEMY'S ACCOUNTS RECEIVABLE CLERK AND ARE REVIEWED BY THE CHIEF FINANCIAL OFFICER. RESULTS ARE THEN PRESENTED TO THE FINANCE COMMITTEE. X X 0 0 0 0 0 0 0 0 0 RANDAL MARTIN PRESIDENT 216738 0 76250 0 0 0 8474 0 15514 0 316976 0 0 0 JEFFREY M LOVELAND CHIEF OPERATING OFFICER 130777 0 10000 0 2000 0 4326 0 8875 0 155978 0 0 0 DOUGLAS RAINES V.P & HEADMASTER 190243 0 25000 0 1600 0 10840 0 12661 0 240344 0 0 0 A PALM BEACH COUNTY FL 596000785 696547ET1 2006-08-10 22000000 TO RETIRE LINE OF CREDIT ON NEW CONSTRUCTION SITE 0 1 0 B PALM BEACH COUNTY FL 596000785 2014-06-10 6000000 TO FINANCE NEW THEATRE PROJECT 0 1 0 A 0 0 0 0 B 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 1 1 0 0 0 0 B 0 0 0 1 1 0 0 0 0 A 0 B 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PALM BEACH COUNTY, FL DATE THE REBATE COMPUTATION WAS PERFORMED: 06/30/2020 ISSUER NAME: PALM BEACH COUNTY, FL DATE THE REBATE COMPUTATION WAS PERFORMED: 05/31/2019 RANDAL MARTIN PRESIDENT CONTINUING EDUCATION X 26634 5312 0 1 1 5312 DOUGLAS RAINES V.P & HEADMASTER 46200 TUITION BENEFIT EDUCATIONAL JULIE ENGSTROM SPOUSE OF BOD MEMBER 17177 HOUSEKEEPING - PAID $17,177 IN FISCAL YEAR. 0 BENJAMIN MOORE PAINT REGAL BOD BUSINESS 44281 PAID CONTRACTOR - PAID $33,401 IN FISCAL YEAR AND ACCRUED $10,880 AT 06/30/2023. 0 BLUE POOLS BOD BUSINESS 4671 POOL SERVICES - PAID $4,671 IN FISCAL YEAR. 0 LOVELAND ELECTRIC COO FAMILY BUSINESS 87913 ELECTRICAL - PAID $79,675 IN FISCAL YEAR. ACCRUED $8,238 AT 06/30/2023. 0 RICHARD LARSON SPOUSE OF DIR OF DEVELOPMENT 38163 DESIGN SERVICES - PAID $36,163 IN FISCAL YEAR. ACCRUED $2,000 AT 06/30/2023. 0 KRISTI MARTIN PRESIDENT'S DAUGHTER 44342 12 MONTH EMPLOYEE, TEACHER AND MARKETING ASSISTANT - PAID $44,342 IN FISCAL YEAR. 0 HEIDI MARTIN PRESIDENT'S SPOUSE 57527 EXECUTIVE ASSISTANT, IMPACT LEADERSHIP LEADER, AND KING'S SERVICE SPONSOR - PAID $57,527 IN THE FISCAL YEAR. 0 KYLE MARTIN PRESIDENT'S SON 8870 PART TIME MAINTENANCE SERVICES - PAID $8,870 IN FISCAL YEAR. 0 CHERYL RAINES HEADMASTER'S SPOUSE 64560 MIDDLE SCHOOL MATH TEACHER, 7TH GRADE GRADE CHAIR - PAID $64,560 IN FISCAL YEAR. 0 JOHN RAINES HEADMASTER'S BROTHER 97493 DIRECTOR OF CURRICULUM AND INSTRUCTION AND MS PRINCIPAL - PAID $97,493 IN FISCAL YEAR 0 KELLY RAINES HEADMASTER'S SISTER IN LAW 49107 FIFTH GRADE TEACHER - PAID $49,107 IN FISCAL YEAR. 0 AMBER LOVELAND COO'S NIECE 32727 PRODUCTION MANAGER AND THEATER PHOTOGRAPHY - PAID $32,727 IN FISCAL YEAR. 0 X CONSTRUCTION MATERIALS 1 41732 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 IS PROVIDED TO EACH VOTING BOARD MEMBER FOR APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS DISCLOSE, REVIEW, AND RESOLVE CONFLICTS OF INTEREST ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S AUDIT COMMITTEE HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESS OF THE AUDIT. 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