2023-10-25T14:56:27-05:00 2023-06-30 060674034 VENMAN & CO LLC CPA'S 375 BRIDGEPORT AVENUE SHELTON CT 06484 990 2022-07-01 453859735 ADAM J LEWIS ACADEMY INC ADAM 2033332211 500 STATE STREET BRIDGEPORT CT 06604 PATRICIA D LEWIS FOUNDER & HEAD OF SCHOOL 2033332211 2023-10-25 PATRICIA LEWIS 999009999 0 JAMES G WOODS P01429665 2039299945 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PATRICIA D LEWIS 500 STATE STREET BRIDGEPORT CT 06604 7207295 0 X AJLACADEMY.ORG X 2011 CT SEE SCHEDULE O FOR SUMMARYADAM J. LEWIS ACADEMY TRANSFORMS THE LIFE TRAJECTORIES OF UNDERSERVED CHILDREN IN BRIDGEPORT, CT. OUR MISSION IS TO PROVIDE AN ENRICHING, NURTURING, HIGH-QUALITY ELEMENTARY EXPERIENCE, WHICH WILL SET THE CHILDREN ON A PATH OF SUCCESS IN SCHOOL AND IN LIFE. 17 15 72 15 0 0 3407794 4404718 1577499 2740669 1111 9335 37782 31202 5024186 7185924 1292949 2369378 0 0 1791401 2255938 0 0 522710 1213876 1367217 4298226 5992533 725960 1193391 5233196 7718009 293475 1577129 4939721 6140880 ADAM J. LEWIS ACADEMY TRANSFORMS THE LIFE TRAJECTORIES OF UNDERSERVED CHILDREN IN BRIDGEPORT, CT. OUR MISSION IS TO PROVIDE AN ENRICHING, NURTURING, HIGH-QUALITY ELEMENTARY EXPERIENCE, WHICH WILL SET THE CHILDREN ON A PATH OF SUCCESS IN SCHOOL AND IN LIFE. 0 0 5095944 2369378 2740669 THE ORGANIZATION OPERATES AN INDEPENDENT CO-EDUCATIONAL DAY SCHOOL LOCATED IN THE WEST END OF BRIDGEPORT, CONNECTICUT - A COMMUNITY FACED WITH DEEP-SEATED CHALLENGES AND LIMITED EDUCATIONAL OPPORTUNITIES. THE SCHOOL ORIGINALLY OPENED AS A PRESCHOOL INSPIRING HOPE IN YOUNG LEARNERS AND THEIR FAMILIES. THE SCHOOL PROVIDES AN ENRICHED EXPERIENCE DURING THE CRITICALLY IMPORTANT EARLY YEARS TO TRANSFORM THE LIFE TRAJECTORIES OF UNDERSERVED CHILDREN.THE ACADEMY CURRENTLY PROVIDES PRESCHOOL, KINDERGARTEN, AND FIRST THROUGH FOURTH GRADE CLASSES WITH PLANS TO EXPAND THROUGH EIGHTH GRADE BY 2027. 5095944 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 15 0 1 72 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT X PATRICIA D LEWIS 2033332211 500 STATE STREET BRIDGEPORT CT 06604 PATRICIA D LEWIS FOUNDER & HEAD OF SCHOOL 40.00 X X 67500 0 0 JULIE MOMBELLO CO-FOUNDER & DIRECTOR 40.00 X X 56071 0 25236 KIMBERLY WALIN TREASURER 1.00 X X 0 0 0 DAVID MCGRATH BOARD CHAIR 1.00 X X 0 0 0 JOHN MUNRO BOARD MEMBER 1.00 X 0 0 0 JOHN G DUFFY BOARD MEMBER 1.00 X 0 0 0 TRICIA VANACORE BOARD MEMBER 1.00 X 0 0 0 BRIAN CONNELL BOARD MEMBER 1.00 X 0 0 0 CHRIS GRIFFIN BOARD MEMBER 1.00 X 0 0 0 DAWN KREITLER BOARD MEMBER 1.00 X 0 0 0 CATHERINE DAVIS BOARD MEMBER 1.00 X 0 0 0 ANTHONY ALLOTT BOARD MEMBER 1.00 X 0 0 0 JIM CRETELLA BOARD MEMBER 1.00 X 0 0 0 DWAYNE SMITH PHD BOARD MEMBER 1.00 X 0 0 0 JIM CONROY BOARD MEMBER 1.00 X 0 0 0 ANNE JUGE BOARD MEMBER 1.00 X 0 0 0 SUSAN LENCI BOARD MEMBER 1.00 X 0 0 0 123571 0 25236 0 0 0 0 BRYAN AND BRIAN CONSTRUCTION INC 442 ROCK HOUSE ROAD WEST REDDING CT 06896 LEASEHOLD RENOVATIONS 127962 1 300250 4104468 4404718 TUITION INCOME 611110 2740669 2740669 2740669 9335 9335 36000 0 36000 36000 36000 8850 300250 21371 -12521 -12521 OTHER 900099 7723 7723 7723 7185924 2740669 0 40537 2369378 2369378 165236 39995 51110 74131 1965187 1581944 120763 262480 33067 24890 2764 5413 92448 50849 14064 27535 560 560 17038 17038 71572 37584 33988 38769 38769 39754 20988 2331 16435 341121 256762 28517 55842 189561 142683 15847 31031 57655 43397 4820 9438 LUNCH AND SNACKS 267953 267953 ENRICHMENT PROGRAMS 145655 145655 CLASSROOM SUPPLIES 56135 56135 STAFF APPRECIATION 51115 51115 90329 57731 30962 1636 5992533 5095944 373879 522710 891839 570646 913579 1140794 2027228 3372954 22759 10327 75781 35423 1902885 570799 1291298 1332086 10712 1255779 5233196 7718009 244360 307098 28436 19101 20679 1250930 293475 1577129 X 2860993 2485035 2078728 3655845 4939721 6140880 5233196 7718009 X 1193391 7768 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14000 14000 274383 29961 244422 1516075 483714 1032361 98427 57124 41303 1332086 SECURITY DEPOSIT 10712 FINANCE LEASE - ROU ASSET 20450 OPERATING LEASE - ROU ASSET 1224617 1255779 SECURITY DEPOSIT PAYABLE 5000 FINANCE LEASE LIABILITY 21313 OPERATING LEASE LIABILITY 1224617 1250930 4831213 14667 14667 4816546 2369378 2369378 7185924 3630054 14667 14667 3615387 2377146 2377146 5992533 PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 2,369,378. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 2,369,378. BOOK/TAX DIFFERENCE - DEPRECIATION 7,768. PART XII, LINE 4B (ADDITIONAL EXPLANATIONS): THE BUILDING AND LAND VALUES ACQUIRED TWO YEARS PRIOR WERE ACCOUNTED FOR ON THE ACADEMY'S BOOKS AT FAIR MARKET VALUE ON THE DATE OF THE MERGER, AS REQUIRED BY GAAP. THE ORIGINAL TAX BASIS OF THE LAND AND BUILDING WAS $517,486 AT JANUARY 29, 2019 (THE MERGER DATE). THE ORIGINAL TAX BASIS IS RETAINED FOR TAX PURPOSES AS THIS WAS A MERGER AND ASSETS RECEIVE CARRYOVER BASIS FOR TAX PURPOSES (LESS ASSUMED LIABILITIES). THE BUILDING DEPRECIATION RECORDED ON THE FINANCIAL STATEMENTS WAS $181,795 WHICH IS BASED ON THE FAIR VALUE OF THE ACQUIRED ASSETS. THE DEPRECIATION RECORDED ON THE 990 WAS $189,562 WHICH IS BASED ON THE TAX BASIS OF THE ACQUIRED ASSETS. THIS REPRESENTS A $7,768 BOOK/TAX DIFFERENCE. 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 ACADEMY ADMITS ALL CHILDREN, REGARDLESS OF RACE, COLOR, NATIONALITY, OR RELIGIOUS BACKGROUND. SPRING FUNDRAISER 309100 300250 8850 4642 16729 309100 300250 8850 4642 16729 21371 -12521 1 SCHOLARSHIPS/TUITION ASSISTANCE 157 2369378 BOOK VALUE TUITION REDUCTION PART I, LINE 2: THE ORGANIZATION REVIEWS SCHOLARSHIP ASSISTANCE ON A STUDENT-BY-STUDENT BASIS BASED ON THE FAMILY'S NEED FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION PROVIDES A COPY OF FORM 990 TO ITS MEMBERS PRIOR TO FILING THE FORM. ANY COMMENTS OR CONCERNS ARE NOTED BY THE MEMBERS AND ADDRESSED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORED ITS CONFLICT OF INTEREST POLICY WHICH WAS REQUIRED TO BE SIGNED BY MEMBERS. ANY QUESTIONS REGARDING THE DISCLOSURE WERE APPROPRIATELY DISCUSSED. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HAVE DESIGNED AND SET COMPENSATION PRACTICES AND CONTROLS TO MAKE SURE THE TOP MANAGEMENT OFFICIALS OF THE ORGANIZATION DO NOT RECEIVE EXCESS COMPENSATION OR BENEFITS. IN FACT, THEY ARE PAID WELL BELOW MARKET RATE. THE BOARD SURVEYS COMPETITIVE WAGES FOR SIMILAR NON-PROFIT BUSINESSES - PROCESS IS REVIEWED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES AVAILABLE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, FINANCIAL STATEMENTS, AND 990 UPON REQUEST. FORM 990, PART XI, LINE 9: INCREASE IN NET ASSETS FROM BOOK/TAX DIFFERENCE - DEPRECIATION 7,768.