SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2021
Open to Public
Inspection
Name of the organization
THE LEELANAU SCHOOL
 
Employer identification number

38-6061392
Return Reference Explanation
FORM 990, PART VI, SECTION B, LINE 11B THE CFO AND HEAD OF SCHOOL WILL REVIEW THE 990 IN COMPARISON TO THE FISCAL YEAR FINANCIAL STATEMENTS. THE CFO/HEAD OF SCHOOL AFTER THEIR REVIEW, WILL RECOMMEND APPROVAL BY THE BOARD OF TRUSTEES. EACH TRUSTEE WILL BE PROVIDED A COPY OF THE 990 BEFORE APPROVING AND FILING.
FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST STATEMENTS ARE DISTRIBUTED AT THE ANNUAL MEETING (TYPICALLY HELD IN MAY) AND COLLECTED BY THE BOARD SECRETARY. THE BOARD SHARES ANY POTENTIAL CONFLICT WITH THE HEAD OF SCHOOL AND CFO. THE CFO MANUALLY SIGNS EACH CHECK WHILE REVIEWING SUPPORTING DOCUMENTATION, THE VENDORS USED ARE KNOWN ENTITIES AND WITH A SMALL BOARD, THE TRUSTEES' BUSINESS VENTURES ARE KNOWN.
FORM 990, PART VI, SECTION B, LINE 15A THE SALARY IS DETERMINED BY THE BOARD OF TRUSTEES. THE HEAD OF SCHOOL RELIES ON ANNUAL PERFORMANCE EVALUATION AND WORKS WITH THE CFO WITHIN THE CONFINES OF THE BUDGET.
FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART IX, LINE 24E DUES & PUBLICATIONS: PROGRAM SERVICE EXPENSES 18,487. MANAGEMENT AND GENERAL EXPENSES 4,622. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 23,109. CLASS EXPENSES: PROGRAM SERVICE EXPENSES 18,006. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,006. PRINTING, PUBLISHING, MAILING: PROGRAM SERVICE EXPENSES 10,775. MANAGEMENT AND GENERAL EXPENSES 2,694. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 13,469. OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 10,699. MANAGEMENT AND GENERAL EXPENSES 2,675. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 13,374. SERVICE CHARGES: PROGRAM SERVICE EXPENSES 12,200. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,200. BAD DEBT: PROGRAM SERVICE EXPENSES 11,725. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,725.
FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST -19,300.
FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSEEING THE AUDIT HAS REMAINED UNCHANGED FROM PRIOR YEARS.
PART VIII, LINE 1E EXPLANATION ON DECEMBER 27, 2020, THE CONSOLIDATED APPROPRIATIONS ACT (CAA) WAS SIGNED INTO LAW. THIS LAW ALLOWED A SECOND DRAW OF PPP STIMULUS FUNDS IF CERTAIN CRITERIA WERE MET. THE ASSOCIATION APPLIED FOR AND WAS AWARDED A SECOND PPP LOAN UNDER THE PROVISIONS OF THE CAA AND OBTAINED ADDITIONAL FUNDS OF $339,325 UNDER AN UNSECURED PROMISSORY NOTE DATED JANUARY 27, 2021. THE ASSOCIATION RECEIVED FORMAL FORGIVENESS FROM THE SBA FOR THE FULL AMOUNT OF THIS LOAN IN OCTOBER 2021 AND INCLUDED THE LOAN PROCEEDS AS GOVERNMENT GRANT REVENUE ON THE 2021 STATEMENT OF REVENUE. AMONG OTHER PROVISIONS, THE CARES ACT CONTAINS SIGNIFICANT BUSINESS TAX PROVISIONS, INCLUDING AN EMPLOYEE RETENTION CREDIT FOR EMPLOYER PAYROLL TAXES. THE ASSOCIATION HAS CLAIMED AN EMPLOYEE RETENTION CREDIT OF $518,914 WHICH IS INCLUDED AS GOVERNMENT GRANT REVENUE AS OF 6/30/22.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2021


Additional Data


Software ID:  
Software Version: