2025-05-12T19:38:07-05:00 2024-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2023-07-01 811625366 NORTH STAR ACADEMY FOUNDATION INC NORT 6467742150 100 CHURCH STREET 9TH FLOOR NEW YORK NY 10007 JOHN POWELL CFO 2033760656 2025-05-12 1 1 CAITLIN LIMOGES CPA P01633588 5083669100 2025-05-12 2023 2025-03-06 01:10:19Z X JOHN POWELL 100 CHURCH STREET 9TH FLOOR NEW YORK NY 10007 13576488 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. 7 4 0 4 0 0 1226000 1925537 11143068 11405235 152761 245716 170639 0 12692468 13576488 1226000 1925537 0 0 0 0 0 0 0 11104242 11478064 12330242 13403601 362226 172887 171675890 167952135 177752234 173855592 -6076344 -5903457 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 13403601 1925537 11405235 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. 13403601 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 6 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 4 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NJ X JOHN POWELL 6467742150 100 CHURCH STREET 9TH FLOOR NEW YORK NY 10007 BRETT PEISER DIRECTOR/CEO 1.00 47.00 X X 0 664917 47342 JOHN POWELL SENIOR VICE PRESIDENT 1.00 45.00 X X 0 200859 3526 PEGGY LIAO SENIOR VICE PRESIDENT 1.00 44.00 X X 0 75989 2637 NORMAN ATKINS DIRECTOR 1.00 7.00 X 0 0 0 YVONNE CHAO DIRECTOR 1.00 2.00 X 0 0 0 BROOKE REID DIRECTOR 1.00 1.00 X 0 0 0 RAVI BELLUR DIRECTOR 1.00 0.00 X 0 0 0 0 941765 53505 0 0 1 0 0 1925537 1925537 RENTAL INCOME 531110 10464934 10464934 MANAGEMENT FEES 900099 797427 797427 INTEREST INCOME 900099 142874 142874 11405235 245716 245716 13576488 11405235 0 245716 1925537 1925537 894347 894347 114537 114537 5786390 5786390 4682790 4682790 13403601 13403601 0 0 9081555 10081241 861876 912936 205691 139685 183162269 37640476 150070656 145521793 11456112 11296480 171675890 167952135 2378749 1842640 2607315 2607313 53461851 53031811 45609167 22838846 73695152 93534982 177752234 173855592 X -6076344 -5903457 -6076344 -5903457 171675890 167952135 172887 0 X X 0 1 X 1 0 X 1055000 1226000 1925537 4206537 1055000 1226000 1925537 4206537 4206537 87203 1153 848 152761 245716 487681 4694218 55253061 0.89610 0.78680 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10099957 10099957 76783596 16700176 60083420 94667435 20589852 74077583 1611281 350448 1260833 145521793 RESTRICTED DEPOSITS 6861956 RIGHT-OF-USE ASSET - FINANCING LEASES 4151736 DUE FROM RELATED PARTIES 282788 11296480 FINANCING LEASE OBLIGATION 4076928 DUE TO RELATED PARTIES 1099002 NOTES PAYABLE TO RELATED PARTIES 88284012 CONSTRUCTION ADVANCES 75040 93534982 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, 2024. 1 NORTH STAR ACADEMY 100 CHURCH STREET 9TH FLOOR NEW YORK NY 10007 134290294 GOVERNMENT ENTITY 1925537 0 TO FUND PROGRAMS AT THE SCHOOL 1 PART I, LINE 2: NORTH STAR ACADEMY FOUNDATION PROVIDES GRANTS TO NORTH STAR ACADEMY TO SUPPORT THE PROGRAMMING OR OTHER NEEDS OF THE SCHOOL. 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 664917 0 0 0 0 0 25500 0 21842 0 712259 0 0 JOHN POWELL SENIOR VICE PRESIDENT 0 200859 0 0 0 0 0 3500 0 26 0 204385 0 0 PART I, LINE 3 THREE OF NORTH STAR ACADEMY FOUNDATION, INC.'S DIRECTORS AND/OR OFFICERS ARE EMPLOYEES OF UNCOMMON SCHOOLS, INC (SEE SCHEDULE R). THESE INDIVIDUALS ARE 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 2100000 26376594 3401681 938650 526813 21509450 0 0 1 1 B 665000 31146334 2864948 295950 27985436 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 THE INDEPENDENT DIRECTORS 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 THE INDEPENDENT DIRECTORS. 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 SENIOR VICE PRESIDENT FOR REVIEW. THEREAFTER, IF ANY CONFLICTS ARE IDENTIFIED, THE SENIOR VICE PRESIDENT 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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