2024-05-07T08:57:25-05:00 2023-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2022-07-01 811625366 NORTH STAR ACADEMY FOUNDATION INC NORT 2128443584 55 BROAD STREET 3RD FLOOR NEW YORK NY 10004 JOHN POWELL CFO 2033760656 2024-05-07 1 JOHN POWELL XXX-XX-XXXX 1 JOHN BUCKLEY CPA P00830631 5083669100 2024-05-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN POWELL 55 BROAD STREET 3RD FLOOR NEW YORK NY 10004 12692468 0 X WWW.UNCOMMONSCHOOLS.ORG X 2016 NJ NSA FOUNDATION WAS FORMED TO SUPPORT NORTH STAR ACADEMY CHARTER SCHOOL OF NEWARK, BOTH OPERATIONALLY AND IN CONNECTION WITH THE ACQUISITION AND DEVELOPMENT OF FACILITIES. 4 3 0 3 0 0 1055000 1226000 10535299 11143068 848 152761 0 170639 11591147 12692468 1055000 1226000 0 0 0 0 0 0 0 12312943 11104242 13367943 12330242 -1776796 362226 174771536 171675890 181210106 177752234 -6438570 -6076344 NSA FOUNDATION WAS FORMED TO SUPPORT NORTH STAR ACADEMY CHARTER SCHOOL OF NEWARK, BOTH OPERATIONALLY AND IN CONNECTION WITH THE ACQUISITION AND DEVELOPMENT OF FACILITIES. 0 0 12330242 1226000 11313707 EXPENSES INCURRED IN SUPPORTING NORTH STAR ACADEMY CHARTER SCHOOL OF NEWARK. PLEASE REFER TO FORM 990, PART III, LINE 1, FOR THE ORGANIZATION'S MISSION. 12330242 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X BRETT PEISER 6467742150 55 BROAD STREET 3RD FLOOR NEW YORK NY 10004 BRETT PEISER DIRECTOR/CEO 1.00 47.00 X X 0 497653 44709 BROOKE REID DIRECTOR (UNTIL 6/2023) 1.00 2.00 X 0 0 0 RAVI BELLUR DIRECTOR 1.00 0.00 X 0 0 0 NORMAN ATKINS DIRECTOR 1.00 7.00 X 0 0 0 YVONNE CHAO DIRECTOR 1.00 2.00 X 0 0 0 0 497653 44709 0 0 1 0 0 1226000 1226000 RENTAL INCOME 531110 10128259 10128259 MANAGEMENT FEES 900099 855316 855316 INTEREST INCOME 900099 159493 159493 11143068 152761 152761 MISCELLANEOUS 900099 170639 170639 170639 12692468 11313707 0 152761 1226000 1226000 991315 991315 261060 261060 5182482 5182482 4669385 4669385 12330242 12330242 0 0 8606181 9081555 810333 861876 36370 205691 183162269 33091613 154647016 150070656 10671636 11456112 174771536 171675890 1955278 2378749 2719105 2607315 54974178 53461851 46344251 45609167 75217294 73695152 181210106 177752234 X -6438570 -6076344 -6438570 -6076344 174771536 171675890 362226 0 X X 0 1 X 1 0 X 1055000 1226000 2281000 1055000 1226000 2281000 2281000 376028 87203 1153 848 152761 617993 2898993 54365490 0.78680 0.57590 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10099957 10099957 76783596 14681955 62101641 94667435 18101562 76565873 1611281 308096 1303185 150070656 RESTRICTED DEPOSITS 6932289 RIGHT-OF-USE ASSET - FINANCING LEASE 4285663 DUE FROM RELATED PARTIES 238160 11456112 FINANCING LEASE OBLIGATION 4257466 DUE TO RELATED PARTIES 1013891 NOTES PAYABLE TO RELATED PARTIES 68348754 CONSTRUCTION ADVANCES 75041 73695152 X PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR THE UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS AT JUNE 30, 2023. 1 NORTH STAR ACADEMY 55 BROAD STREET 3RD FLOOR NEW YORK NY 10004 134290294 GOVERNMENT ENTITY 0 1226000 WORKING CAPITAL GRANT 1 PART I, LINE 2: NORTH STAR ACADEMY FOUNDATION PROVIDES GRANTS TO NORTH STAR ACADEMY TO THE EXTENT THAT THEY HAVE LIQUIDITY. UNCOMMON SCHOOLS, INC. SERVES AS THE MANAGEMENT COMPANY FOR VARIOUS PARTIES THAT WILL BE THE ULTIMATE BENEFICIARY OF THESE GRANT FUNDS. THE USE OF THESE GRANT FUNDS IS MONITORED BY UNCOMMON SCHOOLS, INC.'S FINANCE PERSONNEL AS THEY MANAGE THE ACCOUNTING RECORDS OF THE PARTIES THAT RECEIVE THE GRANT FUNDS. 0 0 0 0 0 0 0 0 0 BRETT PEISER DIRECTOR/CEO 0 497653 0 0 0 0 0 24000 0 20709 0 542362 0 0 PART I, LINE 3 ONE OF NORTH STAR ACADEMY FOUNDATION, INC.'S DIRECTORS AND/OR OFFICERS IS AN EMPLOYEE OF UNCOMMON SCHOOLS, INC (SEE SCHEDULE R). THIS INDIVIDUAL IS COMPENSATED ONLY FOR THEIR EMPLOYMENT SERVICES TO UNCOMMON SCHOOLS, INC. THE COMPENSATION IS PAID ONLY BY UNCOMMON SCHOOLS, INC. UNCOMMON SCHOOLS INC.'S BOARD OF DIRECTORS HAS A COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE COMPLETES A COMPARATIVE ANALYSIS OF SIMILAR ORGANIZATIONS WHICH IT USES AS GUIDANCE WHEN IT REVIEWS AND APPROVES THE COMPENSATION AND BENEFITS OF SENIOR MANAGEMENT. THE COMPENSATION COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE INDIVIDUAL WHICH INCLUDES BOTH CURRENT AND DEFFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND UNQUALIFIED. THE COMPENSATION COMMITTEE'S REVIEW IS COMPLETED ON A REGULAR BASIS AND ENSURES THAT THE "TOTAL COMPENSATION" OF SENIOR MANAGEMENT IS REASONABLE. THE ACTIONS TAKEN BY THE COMPENSATION COMMITTEE ENABLE UNCOMMON SCHOOLS, INC. TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR PURPOSES OF INTERNAL REVENUE CODE 4958 WITH RESPECT TO THE TOTAL COMPENSATION OF CERTAIN MEMBERS OF THE SENIOR MANAGEMENT TEAM. THE THREE FACTORS WHICH MUST BE SATISFIED IN ORDER TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS ARE THE FOLLOWING: 1. THE COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY AN "AUTHORIZED BODY" OF THE APPLICABLE TAX-EXEMPT ORGANIZATION WHICH IS COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A "CONFLICT OF INTEREST" WITH RESPECT TO THE COMPENSATION ARRANGEMENT. 2. THE "AUTHORIZED BODY" OBTAINED AND RELIED UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION; AND 3. THE "AUTHORIZED BODY" "ADEQUATELY DOCUMENTED THE BASIS FOR ITS DETERMINATION" CONCURRENTLY WITH MAKING THAT DETERMINATION. THE COMPENSATION COMMITTEE IS COMPRISED OF MEMBER OF THE BOARD OF TRUSTEES/DIRECTORS OF UNCOMMON SCHOOLS, INC. EACH OF WHOM ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. THE COMPENSATION COMMITTEE ADEQUATELY DOCUMENTED ITS BASIS FOR ITS DETERMINATION THROUGH THE TIMELY PREPARATION OF WRITTEN MINUTES OF THE COMPENSATION COMMITTEE'S MEETINGS WHICH THE EXECUTIVES' COMPENSATION AND BENEFITS WERE REVIEWED AND SUBSEQUENTLY APPROVED. THE ACTIONS OUTLINED ABOVE WITH RESPECT TO THE COMPENSATION COMMITTEE AND THE ESTABLISHMENT OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS ONLY APPLIES TO CERTAIN SENIOR MANAGEMENT PERSONNEL OF UNCOMMON SCHOOLS, INC. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 64577BL77 2017-10-25 26376594 FINANCING THE CONSTRUCTION OF REAL PROPERTY 0 1 0 B ESSEX COUNTY IMPROVEMENT AUTHORITY 222023989 29681CAM0 2020-10-29 31146334 FINANCING THE CONSTRUCTION OF REAL PROPERTY 0 1 0 A 2950000 26376594 3224126 938650 526813 21687005 0 0 1 1 B 440000 31146334 1620805 295950 29229579 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 FORM 990, PART VI, SECTION A, LINE 7A TWO OF THE INDEPENDENT TRUSTEES OF NORTH STAR ACADEMY FOUNDATION ARE APPOINTED BY THE BOARD OF TRUSTEES OF UNCOMMON SCHOOLS, INC. IN ADDITION, AS VACANCIES ARISE ON THE NORTH STAR ACADEMY FOUNDATION BOARD, THE BOARD OF TRUSTEES OF UNCOMMON SCHOOLS, INC. HAS THE RIGHT TO APPOINT TWO OF THE INDEPENDENT TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE FEDERAL FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS OF NORTH STAR ACADEMY FOUNDATION, INC. FOR REVIEW BY ITS MEMBERS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF DIRECTORS, OFFICERS, KEY EMPLOYEES AND SENIOR MANAGEMENT PERSONNEL COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION'S CHIEF FINANCIAL OFFICER FOR REVIEW. THEREAFTER, IF ANY CONFLICTS ARE IDENTIFIED, THE CHIEF FINANCIAL OFFICER PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES FOR REVIEW WITH THE BOARD OF DIRECTORS. WHEN NECESSARY, PROCEDURES ARE CREATED FOR ADDRESSING ANY IDENTIFIED CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 NORTH STAR ACADEMY FOUNDATION, INC'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND CONSOLIDATED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE THE OVERSIGHT PROCESS DURING THE TAX YEAR. 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