2024-01-24T13:23:20-05:00 2023-06-30 COACHELLA VALLEY ACCOUNTING & AUDITING 43675 ALBA CT LA QUINTA CA 92253 990 2022-07-01 952133079 THE PALM VALLEY SCHOOL PALM 7603280861 35525 DA VALL DR RANCHO MIRAGE CA 922701822 DR STEVEN SHERMAN HEAD OF SCHOOL - CEO 7603280861 2024-01-23 true DR STEVEN SHERMAN 999009999 false ANDREA L OLIVERI P01890398 4423250089 2024-01-24 2022 2023-04-26 12:10:37Z DR STEVEN SHERMAN 35525 DA VALL DR RANCHO MIRAGE CA 92270 7098868 false X WWW.PVS.ORG X 2000 CA PALM VALLEY SCHOOL IS AN EXCEPTIONAL LEARNING COMMUNITY THAT EDUCATES, NURTURES, AND CHALLENGES EACH STUDENT TO ACHIEVE EXCELLENCE AND CONTRIBUTE TO OUR GLOBAL SECURITY. 7 7 96 40 0 179111 149311 5761873 6657682 862 21798 226328 197722 6168174 7026513 733536 880147 0 3707765 4217836 0 42179 2537894 2766569 6979195 7864552 -811021 -838039 14833118 13624821 8254619 7884361 6578499 5740460 PALM VALLEY SCHOOL IS AN EXCEPTIONAL LEARNING COMMUNITY THAT EDUCATES, NURTURES, AND CHALLENGES EACH STUDENT TO ACHIEVE EXCELLENCE AND CONTRIBUTE TO OUR GLOBAL SOCIETY. false false 6044960 880147 EDUCATIONAL PROGRAMS BENEFITTING PRIMARY AND SECONDARY GRADE LEVEL STUDENTS OF ANY RACE, CREED, OR COLOR. 6044960 true true false false false false false false false true true false false false true true true false true false false false false false true false false false true true false false false false false false false false false false false false false false false false false true 4 0 true 96 true false false false false false false false false false false false false false false X 7 7 false false false false false false false true true false false false true true true true false true true false CA X DAVID WOLFE 7603280861 35525 DA VALL DR RANCHO MIRAGE CA 92270 DR STEVEN SHERMAN HEAD OF SCHO 40.00 X 287500 0 57031 DAVID WOLFE CFO 40.00 X 66111 0 1269 STONE JAMES CHAIR 5.00 X X 0 0 0 SARAH DUNN VICE-CHAIR 5.00 X X 0 0 0 KEVIN DORAN TREASURER 5.00 X X 0 0 0 BRIANA JORDAN SECRETARY 5.00 X X 0 0 0 ROGER SNOBLE DIRECTOR 5.00 X 0 0 0 NATHAN OTTO DIRECTOR 5.00 X 0 0 0 LAUREN SKIVER DIRECTOR 5.00 X 0 0 0 353611 58300 1 false true false 149311 21653 149311 TUITION & FEES 6491852 6491852 AUXILIARY SERVICES 110784 110784 TUITION INTEREST INCOME 55046 55046 6657682 21798 21798 8120 8120 8120 8120 181381 72355 109026 MISCELLANEOUS INCOME 611710 48217 48217 YEAR BOOKS & FIELD TRIPS 611710 18164 18164 BD RECOVERY & FORFEITURE 611710 14195 14195 80576 7026513 6738258 29918 880147 880147 458175 343631 109962 4582 3241111 2430834 777866 32411 236932 177699 56863 2370 281618 211214 67588 2816 19800 19800 33590 33590 101932 101932 39872 29904 9968 291454 218590 72864 256102 192077 64025 761949 571462 190487 207858 187071 20787 OVERHEAD 385868 192934 192934 BOOKS & INSTRUCTIONAL MAT 155641 155641 AGENCY EXPENSE 121999 121999 REPAIRS & MAINTENANCE 104229 78172 26057 286275 253585 32690 7864552 6044960 1777413 42179 2303178 2437723 420027 36934 77690 81296 25660719 14751104 11560647 10909615 471576 159253 14833118 13624821 305656 252706 2004368 1964497 5799879 5502772 144716 164386 8254619 7884361 X 6419012 5672169 159487 68291 6578499 5740460 14833118 13624821 X -838039 X false true X true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 168192 168192 168031 161 168192 138758 29273 168031 588687 449929 138758 588687 588687 0.50230 0.49770 false false 1281463 1281463 80000 10383 69617 101085 8871 92214 24198171 14731850 9466321 10909615 CURRENT PORTION ON L/T NOTE 148282 DEFERRED COMPENSATION 16104 164386 X 6218720 -807793 -807793 7026513 7026513 7056759 -807793 -807793 7864552 7864552 SCHEDULE D, PAGE 2, PART V, LINE 4 THE SCHOOL'S ENDOWMENT CONSISTS OF FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE ENDOWMENT INVESTMENT FUNDS WERE LIQUIDATED DURING THE YEAR ENDED JUNE 30, 2019 AND ARE NOW HELD IN THE SCHOOL'S CASH ACCOUNTS. SCHEDULE D, PAGE 3, PART X THE SCHOOL IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SCHOOL HAS NOT ENGAGED IN ANY ACTIVITIES SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME; THEREFORE, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. THE SCHOOL'S POLICY IS TO RECORD INCOME TAX RELATED INTEREST AND PENALTIES IN OPERATING EXPENSES. FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, THERE WAS NO INCOME TAX RELATED INTEREST OR PENALTIES EXPENSE RECORDED AND NO ACCRUED INTEREST AND PENALTIES. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE SCHOOL AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE SCHOOL HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL, AND HAS CONCLUDED THAT AS OF JUNE 30, 2023 AND 2022 THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOLS ANNUAL EXEMPT ORGANIZATION TAX RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES, GENERALLY FOR THREE AND FOUR YEARS, RESPECTIVELY, AFTER FILED. THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. SCHEDULE D, PAGE 4, PART XI, LINE 2D SCHOLARSHIPS/TUITION DISCOUNTS -880,148 SPECIAL EVENT DIRECT EXPENSES 72,355 SCHEDULE D, PAGE 4, PART XII, LINE 2D SCHOLARSHIPS/TUITION DISCOUNTS -880,148 SPECIAL EVENT DIRECT EXPENSES 72,355 true true true true true true true false false false false false false false false false false true ANNUAL GALA 181381 181381 20905 29718 21732 181381 181381 20905 29718 21732 72355 109026 false SCHOLARSHIPS 93 784540 TUITION DISCOUNTS 17 95607 false false false false false false false false false DR STEVEN SHERMAN HEAD OF SCHOOL - CEO 287500 57031 344531 FORM 990, PAGE 6, PART VI, LINE 11B ANNUAL BOARD MEETING DISCUSSION. FORM 990, PAGE 6, PART VI, LINE 12C DISCLOSURE FORM IS COMPLETED ANNUALLY BY BOARD MEMBERS. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION COMMITTEE REVIEWS THE HEADMASTER'S CONTRACT WITH COMPARATIVE DATA FROM OTHER INDEPENDENT SCHOOLS AS REPORTED BY THE CALIFORNIA ASSOCIATION OF INDEPENDENT SCHOOLS, AS WELL AS NATIONAL AND LOCAL DATA FROM SIMILAR INSTITUTIONS. FORM 990, PAGE 6, PART VI, LINE 15B THE COMPENSATION COMMITTEE REVIEWS THE EMPLOYEE CONTRACTS WITH COMPARATIVE DATA FROM OTHER INDEPENDENT SCHOOLS AS REPORTED BY THE CALIFORNIA ASSOCIATION OF INDEPENDENT SCHOOLS, AS WELL AS NATIONAL AND LOCAL DATA FROM SIMILAR INSTITUTIONS. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE BY REQUEST TO THE HEADMASTER OR THE BUSINESS MANAGER THROUGH THE SCHOOL'S ADMINISTRATIVE OFFICE. COPIES OF THE FILED FORM 990 TAX RETURNS ARE AVAILABLE ON THE GUIDESTAR WEBSITE. FORM 990, PART XI, LINE 9 SCHOLARSHIPS/TUITION DISCOUNTS -880,148 SPECIAL EVENT DIRECT EXPENSES 72,355 SCHOLARSHIPS/TUITION DISCOUNTS 880,148 SPECIAL EVENT DIRECT EXPENSES -72,355