2023-11-16T13:08:48-05:00 2023-06-30 990 2022-10-13 920677719 Rosati-Kain Academy % Maggie A Sullivan President ROSA 3146030976 4389 Lindell Boulevard St Louis MO 63108 Barbara A Geisman Secretary-Treasurer 2023-11-16 2022 2023-04-26 12:10:37Z X Rosati-Kain Academy Maggie A Sullivan President 4389 Lindell Boulevard St Louis MO 63108 267694 false X rosati-kain.org X 2022 MO Rosati-Kain Academy "RKA" was formed in October 2022 to take over the operation of Rosati-Kain High School then operated by the Archdiocese of St. Louis. RKA began operating the high school on July 1 2023. This return covers the organizational period prior to RKA's assumption of high school operation. 8 7 0 50 0 0 235254 235254 32440 32440 0 0 0 0 267694 267694 0 0 0 0 0 0 0 0 0 10 10 10 10 267684 267684 0 267684 0 0 0 267684 Rosati Kain Academy's "RKA's" mission is to provide a quality Catholic high school education for a culturally ethnically economically and geographically diverse young women. 76% of our students receive financial aid; our students come from 60 zip codes in the St. Louis region including Illinois; our students are 33% black 12% Hispanic 5% Asian 5% multiracial and 44% white. Last year Rosati-Kain seniors received over $12 million in college scholarship offers and are attending Harvard and other top-tier schools. false false 10 0 267694 This return covers the period beginning on the day of our incorporation October 13 2022 and ending on June 30 2023. During the period covered by this tax return the RKA board of directors conducted organizational activities in preparation for taking control of Rosati-Kain High School from the St. Louis Archdiocese on July 1 2023. Those organizational activities included the following: * Negotiated a lease with the Archdiocese of St. Louis for the school campus at 4389 Lindell Boulevard. * Formed a search committee for President of the school and hired the school President. * Selected outside legal counsel and accountants and secured property liability insurance for the Board and the school. * After receiving our 501c3 approval established our first bank accounts in May 2023. * Contracted with an outside payroll service for payrolls beginning July 15 2023. * Retained contracted with approximately 2 3 of the High School's faculty and hired new faculty and staff. * Retained approximately 85 students from the High School and recruited 27 new freshmen others for our current total 125 students. 0 0 0 0 0 0 0 0 0 10 true true false false false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false true false false false false false false false false false false false true 0 0 0 false false false false false false false 0 false false false false false X 8 7 false false false false false false false true true false false true true true false false false true false false MO X Barbara A Geisman 3146030976 4389 Lindell Boulevard St Louis MO 63108 X Michelle Martin Bonner Board Chair 15.00 0 X X 0 0 0 Barbara A Geisman Secretary-Treasurer 50.00 0 X X 0 0 0 Maggie A Sullivan President 60.00 0 X X 0 0 0 Nicholas Odem Board Member 50.00 0 X 0 0 0 Nicole Martinez Board Member 15.00 0 X 0 0 0 John Delautre Board Member 2.50 0 X 0 0 0 Dr Eric Clark Board Member 1.50 0 X 0 0 0 Samantha Montgomery Board Member 1.50 0 X 0 0 0 0 0 0 0 false false false 0 0 0 0 0 235254 0 235254 Tuition 611110 31750 31750 0 0 Registration Fees 611110 690 690 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 32440 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NONE 0 0 0 0 NONE 0 0 0 0 NONE 0 0 0 0 0 0 0 0 0 267694 32440 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Minimum balance fee--Midwest Bankcentre 10 0 10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10 0 10 0 0 0 0 0 0 6600 0 261084 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 267684 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 0 0 0 0 0 267684 0 267684 0 267684 267684 0 0 0 0 0 X false false false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true false true true true true true false false false false false false false false false false true Part I | PartandLinenumber:,Explanation:| Part1Line3,The school did not have a school or a school website until July 1 after the fiscal year end for which this return is submitted. When the school acquired the school website we displayed our racially nondiscriminatory policy on its primary publicly accessible Internet homepage. The school is in the process of adding its racially nondiscriminatory policy to brochures catalogues and other written communications with the public dealing with student admissions programs and scholarships.| 0 Maggie Sullivan President Board Member 22500 SEE DESCRIPTION BELOW false Cynthia Goudy Board Member 37500 SEE DESCRIPTION BELOW false Part V | PartandLinenumber:,Explanation:| Part III General,The individuals listed above provided independent contractor services to Rosati-Kain Academy during the fiscal year for which this return is submitted but were paid by the St. Louis Community Foundation. St. Louis Community Foundation is an organization unrelated to RKA that collected donations and paid expenses on RKA's behalf until RKA received its 501c3 approval. Therefore the payments to these individuals do not show up as RKA expenses in other sections of this return--it is our understanding that the St. Louis Community Foundation will include these expenses in its applicable tax return and issue 1099s for the individuals above for their calendar year 2023 tax returns.| Part III General,RKA contracted with Cynthia Goudy to serve as the organization's half-time Interim President and fundraiser from January 1 2023 through June 30 2023 until a new President could be selected and hired; as noted she was paid by the St. Louis Community Foundation. Maggie Sullivan was selected as RKA's School President in mid-April 2023. RKA contracted with Ms Sullivan to serve as President from May 1 through June 30 2023 until RKA took over operation of the school on July 1 2023 at the beginning of RKA's next fiscal year. Beginning on July 1 2023 Ms. Sullivan became an employee of RKA and is currently being paid by RKA.| Part III General,Cynthia Goudy remained an RKA independent contractor during the two months in which Maggie Sullivan was an independent contractor in order to help transition the President's work to Ms. Sullivan and transition Ms. Goudy to an exclusively fundraising role. Ms. Goudy now continues to serve RKA as an independent contractor with a fundraising scope of services and is paid by RKA. Employee salary payments to both Ms. Sullivan and Ms. Goudy will appear on RKA's next tax return for its 2023-24 fiscal year. Cynthia Goudy has now resigned from the Rosati-Kain Academy board.| Part VI, Line 11b A draft of this 990 form and schedules were provided to all members of the RKA board of directors seven 7 days before the filing deadline. The final version of this 990 form and schedules was provided to all members of the RKA board of directors the day prior to the filing deadline. Part VI, Line 15 The chair of the RKA board of directors with the approval of the board formed a selection committee to select the RKA President. The selection committee consisted of the chair educators not associated with RKA including other school presidents as well as several RKA faculty. The selection committee and the board of directors examined salaries for other private school presidents in the area and determined that an appropriate salary was between $125,000 and $150,000 per year. The board hired the President at a salary of $135,000. Part VI, Line 19 PART VI LINE 19: The organization made its governing documents including its conflict of interest policy available to the public during the tax year by filing its governing documents a on the Missouri Secretary of State website; and b including those documents with its publicly available Form 1023 per heading on Form 1023 "Note: If exempt status is approved this application will be open for public inspection." Due to the organization's limited financial activity during the fiscal year addressed by this return the board did not prepare financial statements or make any financial statements available to the public. The financial information included in this return will be available to the public on the IRS website after this return is filed. In addition the organization is prepared to provide copies of this Form 990 and its accompanying schedules and copies of its organizational documents and Form 1023 application for exemption to any member of the public who requests them in person or in writing pursuant to IRC Section 6104. Part I General | Explanation:| GENERALLY: Rosati-Kain Academy "RKA" was formed as a Missouri nonprofit corporation on October 13 2022 days after the Archbishop of St. Louis announced that he was closing Rosati-Kain High School on June 30 2023. Many alumnae of the high school rallied to form the new organization to take over the school's operation on July 1 2023. This return covers the time period between our new Rosati-Kain Academy formation and our take-over of the school on July 1 2023. RKA applied for 501c3 approval via submission of its Form 1023 on November 19 2022. Because RKA was not certain if or when it would receive its 501c3 approval the St. Louis Community Foundation "SLCF" graciously established a component fund the "RK Fund" for the charitable purpose of supporting the transition of Rosati-Kain High School from an Archdiocesan organization to Rosati-Kain Academy an independent 501c3 organization. Beginning in January 2023 the RK Fund received donations for that charitable purpose and paid expenses in support of that purpose until the disposition of our 501c3 application was known. SLCF is a 501c3 organization unrelated to RKA. Expenses for SLCF payments to RKA individuals during this fiscal year are listed on Schedule L but are not included as RKA expenses since those payments were not made by RKA. Except for the $200,000 transferred to RKA from the RK Fund before June 30 2023 and reported herein no expenses paid or income deposited into the RK Fund on or before June 30 2023 are included as income or expenses in this RKA return. It is our understanding that SLCF will report all expenses paid from and income paid into the RK Fund on its own SLCF tax return. RKA opened its own bank accounts at Midwest Bankcentre on May 19 2023. This return includes RKA income deposited into and expenses paid from those RKA bank accounts on and after May 19 2023 and thereafter through June 30 2023 the end of RKA's fiscal year. SLCF continued to receive some donations into the RK Fund after May 19 2023 and after June 30 2023 if the donations were directed to the RK Fund or the donations consisted of securities---RKA is not experienced in converting donated securities into cash and relies on SLCF to process those conversions. It is hoped that funds remaining in the RK Fund will be transferred to RKA going forward. Any such transfers will be reported on future RK returns.