2025-02-17T16:39:01-05:00 2024-06-30 SMITH & HOWARD ADVISORY LLC 271 17TH STREET NW SUITE 2100 ATLANTA GA 30363 990 2023-07-01 582057721 MID SOUTH INDEPENDENT SCHOOL BUSINESS OFFICERS INC % DAMIAN KAVANAGH MIDS 4049213811 1000 Whitlock Ave Ste 320-337 MARIETTA GA 30064 DAMIAN KAVANAGH PRESIDENT & CEO 4049213811 2025-05-15 true true SABRE J LINAHAN P01372980 4048746244 2025-05-15 2023 2025-03-06 01:10:19Z DAMIAN KAVANAGH 1000 Whitlock Ave Ste 320-337 MARIETTA GA 30064 4712441 false X www.misbo.com X 1993 GA MISBO connects independent school professionals and delivers exceptional value to enrich learning. 24 24 10 80 0 0 0 1509832 1700782 46752 106403 0 100 1556584 1807285 0 15000 0 0 1069226 1178232 0 0 0 383008 441905 1452234 1635137 104350 172148 2958906 3483996 976544 1125788 1982362 2358208 X MISBO HAS FOUR MAJOR GOALS (1) TO ENCOURAGE EXCELLENCE AND CREATIVE LEADERSHIP IN BUSINESS AND FINANCIAL MANAGEMENT OF INDEPENDENT SCHOOLS, (2) TO OPEN CHANNELS OF COMMUNICATION ON PROBLEMS OF BUSINESS MANAGEMENT THAT ARE IMPORTANT TO INDEPENDENT SCHOOLS,(3) TO GIVE THE BUSINESS OFFICER AND OPERATIONAL PROFESSIONALS CONTINUING OPPORTUNITY FOR PROFESSIONAL CONTACT, EXPRESSION AND GROWTH BY CREATING AND DEVELOPING OPPORTUNITY FOR EXPOSURE TO OUTSTANDING BUSINESS LEADERS WITHIN AND WITHOUT THE EDUCATION COMMUNITY,(4) TO ENCOURAGE JOINT PROCUREMENT OF GOODS AND SERVICES AMONG INDEPENDENT SCHOOLS THROUGH THE ADMINISTRATION OF PURCHASING CONSORTIUM FOR THE MUTUAL BENEFIT, DEVELOPMENT AND FINANCIAL IMPROVEMENT OF MEMBER INSTITUTIONS. false false 810758 639233 MISBO provides its over 400 member independent schools with a purchasing program and access to MISBO negotiated discount contracts with over 160 vendors, referred to as consortium partners, of goods and services that are used by member schools. Schools purchase directly from the consortium partners and MISBO receives a percentage fee on all purchases, primarily from the partners, and in some cases from the schools. The revenues from the purchasing program generate approximately 40% of the association's annual revenue. Schools that utilize the program save significantly more from just a few consortium partners than the annual membership dues cost. 405379 364865 MISBO offers many professional development opportunities annually for independent school business officers, human resources directors, technology directors, and facilities directors. Typically, MISBO offers an annual conference and partners with various associations to offer programs throughout the region. Additionally, MISBO offers as a member benefit approximately 50 webinars and virtual roundtable discussions throughout the year on a wide range of subjects relevant to independent schools. MISBO also creates several tools and consultative services that are provided to members with their membership. 135126 15000 696784 MISBO provides its over 400 member independent schools with access to listservs for exchange of information and sharing of resources. MISBO hosts lists for school business officers, human resources directors, technology directors, facilities directors, and librarians / media specialists. This forum for sharing best practices and asking and receiving answers to relevant questions is consistently ranked as one of the most significant MISBO member benefits. 1351263 true false false false false false false false true false false true false false false true true false false false false false false false false false false true false true false false false false false false false false false false false false false false false false false true 8 0 true 10 true false false false false false false false false false false false false X 24 24 false false false false false false false true true false false true true true true true true true true false GA X DAMIAN KAVANAGH 4049188850 1000 WHITLOCK AVE STE 320-337 MARIETTA GA 30064 DAMIAN KAVANAGH President & CEO 40.0 0.0 X 324605 0 23001 Michelle Shea Vice President 40.0 0.0 X 102737 0 20406 Anita Pittman Chair 5.0 0.0 X 0 0 0 Charles Maumus Vice Chair 5.0 0.0 X 0 0 0 Alan Stob Treasurer 3.0 0.0 X 0 0 0 Paul Ibsen Secretary 3.0 0.0 X 0 0 0 Dave Michelman Committee Chair 3.0 0.0 X 0 0 0 Laura Turner Past Chair 2.0 0.0 X 0 0 0 Richard Swindell Past Chair 2.0 0.0 X 0 0 0 Florence Calhoun Director at Large 2.0 0.0 X 0 0 0 Jim Callis Director at Large 2.0 0.0 X 0 0 0 Tracie Catlett Director at Large 2.0 0.0 X 0 0 0 Kathleen Cole Director at Large 2.0 0.0 X 0 0 0 Brannon Fisette Director at Large 2.0 0.0 X 0 0 0 Iris Goodson Director at Large 2.0 0.0 X 0 0 0 Christie Holman Director at Large 2.0 0.0 X 0 0 0 Felix Jacomino Director at Large 2.0 0.0 X 0 0 0 Veronique Kessler Director at Large 2.0 0.0 X 0 0 0 Beth Lucas Director at Large 2.0 0.0 X 0 0 0 Louise Mann Director at Large 2.0 0.0 X 0 0 0 Todd Morris Director at Large 2.0 0.0 X 0 0 0 Andrew Phelps Director at Large 2.0 0.0 X 0 0 0 Beth Pollard Director at Large 2.0 0.0 X 0 0 0 Mark Vosskamp Director at Large 2.0 0.0 X 0 0 0 Alan Weiler Director at Large 2.0 0.0 X 0 0 0 Jennifer Wyly Director at Large 2.0 0.0 X 0 0 0 427342 0 43407 2 false true false 0 0 SCHOOL FEES 611710 639133 639133 MISBO MEMBERSHIP DUES 611710 696784 696784 CONFERENCE REGISTRATION 611710 364865 364865 1700782 152666 152666 0 0 0 0 0 2858893 2905156 -46263 -46263 -46263 0 0 0 0 0 0 0 0 0 MISCELLANEOUS 100 100 100 1807285 1700882 106403 15000 15000 0 0 0 362294 289835 72459 0 604332 483466 120866 22348 17878 4470 130445 123052 7393 58813 47050 11763 0 5515 5515 13000 13000 0 0 8574 8574 0 0 16864 13491 3373 34849 27879 6970 0 3574 2859 715 17813 14250 3563 0 202143 202143 0 0 0 10324 8259 2065 STRATEGIC PLANNING 88614 70891 17723 WEBPAGE EXPENSE 20040 16032 4008 MISCELLANEOUS 20595 19178 1417 1635137 1351263 283874 0 X 175694 144459 661810 812916 0 0 456697 592489 0 0 0 0 0 0 0 0 23229 23671 41000 41000 0 0 1641476 1910461 0 0 0 0 0 0 2958906 3483996 71027 128355 0 0 744173 882233 0 0 161344 115200 0 0 0 0 0 0 0 0 976544 1125788 X 1982362 2358208 0 0 1982362 2358208 2958906 3483996 172148 203698 X false true X true false X 105503 18897 0 0 0 124400 1178844 1139056 1317815 1509832 1700782 6846329 0 0 0 1284347 1157953 1317815 1509832 1700782 6970729 228619 199848 237674 165382 831523 195280 195280 195280 228619 199848 237674 165382 1026803 5943926 25262 24708 31806 46752 152666 281194 0 25262 24708 31806 46752 152666 281194 0 171 100 271 1309609 1182661 1349792 1556584 1853548 7252194 0.81960 0.81827 0.03877 0.02542 X Part III Section A Line 1 In May 2020, the Organization obtained a Small Business Administration ("SBA") loan under the Paycheck Protection Program Flexibility Act ("PPPFA") in the amount of $124,400. The Paycheck Protection Program ("PPP") loan bore interest at 1% and followed certain repayment terms outlines by the Coronavirus Aid, Relief, and Economic Securities Act (the "CARES" Act) and PPPFA. At June 30, 2020, the Organization had incurred $105,503 in qualifying expenses, and had thereby recorded these PPP funds as grant revenue in the accompanying statement of activities and changes in net assets under ASU 2018-08. During 2021, the Organization incurred qualifying expenses for the remainder of the PPP grant, obtained loan forgiveness and recognized the remaining PPP proceeds of $18,987 as grant revenue in the accompanying statement of activities and changes in net assets. false true X MUTUAL FUNDS 0 F EXCHANGE TRADED FUNDS 1895158 F MONEY MARKET FUNDS 15303 F 1910461 0 0 X 2002410 203699 203699 1798711 8574 8574 1807285 1626563 1626563 8574 8574 1635137 SCHEDULE D, PART IV, LINE 2b THE ORGANIZATION ACTS AS AN AGENT ON BEHALF OF MEMBER SCHOOLS IN PURCHASE TRANSACTIONS WITH VENDORS WHO PROVIDE DIGITAL EDUCATIONAL RESOURCE DATABASES TO THE SCHOOLS. THE AMOUNT REFLECTED AS A LIABILITY PERTAINS TO TIMING DIFFERENCES BETWEEN WHEN INVOICES ARE RECEIVED FROM THE VENDORS AND PAYMENTS RECEIVED FROM THE SCHOOLS. SCHEDULE D, PART X, LINE 2 The Internal Revenue Service has notified the Organization that it qualifies as a publicly supported charity as described in section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. The Organization annually evaluates all federal and state income tax positions. This process includes an analysis of whether these income tax positions the Organization takes meet the definition of an uncertain tax position under the Income Taxes Topic of the Financial Accounting Standards Codification. In general, the Organization is no longer subject to tax examinations for the years ending before June 30, 2021. true Schwab Charitable Fund 9800 Schwab Way Lone Tree CO 80124 311640316 501(c)(3) 15000 GENERAL FUNDING 1 Part I, Line 2 The organization has a process in place to ensure that the grant is used for the purpose for which it was intended. The organization requires that grantees provide evidence of the use of funds and a response to the outcomes of the use of funds as it relates to the stated purpose of the funds. X X X X false true false false false false false false false DAMIAN KAVANAGH President & CEO 302696 14634 7275 16230 6940 347775 part I line 4b During 2021, The Organization instituted a supplemental executive retirement plan for key employees. Under this plan, participants shall receive a specified payment upon the completion of a defined period of service or upon involuntary separation from service. The Organization recognized an expense of $13,500 to record the present value of the unfunded portion of this obligation during the years ended June 30, 2024 and 2023. PART VI, Section B, Line 11B PRIOR TO FILING, FORM 990 IS CONFIDENTIALLY DISTRIBUTED TO ALL BOARD MEMBERS WHO WILL EACH APPROVE OR DISSENT. PART VI, SECTION B, LINE 12C PROCEDURE FOR ADDRESSING THE CONFLICT OF INTEREST (1) AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST, (2) THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, (3) AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER MISBO CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, (4) IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN MISBO'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH THE DETERMINATION REQUIRED BY THE PRECEDING SENTENCE. PART VI, SECTION B, LINE 15B The executive committee researched executive director compensation for Georgia associations as well as for independent school associations. Careful study was done to correlate the compensation with membership size, budget size geographic diversity, etc. Data was obtained from a survey by the Georgia Society of Association Executives, Guidestar, and from other independent school associations. PART VI, SECTION B, LINE 19 DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.