2023-05-12T11:11:34-05:00 2022-06-30 420714325 RSM US LLP 1001 WATER ST STE 500 TAMPA FL 33602 990 2021-07-01 742974642 KIPP DC PUBLIC CHARTER SCHOOLS KIPP 2022655477 2600 VIRGINIA AVENUE NW 900 WASHINGTON DC 20037 SUSAN SCHAEFFLER MEMBER/CEO 2022655477 2023-05-11 1 SUSAN SCHAEFFLER XXX-XX-XXXX KRISTEN BARNETT P01234578 8133162300 2023-05-11 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z SUSAN SCHAEFFLER 2600 VIRGINIA AVENUE NW 900 WASHINGTON DC 20037 265355168 0 X WWW.KIPPDC.ORG X 2001 DC TOGETHER WITH FAMILIES AND COMMUNITIES, KIPP DC SCHOOLS CREATE JOYFUL, (CONT'D ON SCH O) ACADEMICALLY EXCELLENT SCHOOLS THAT PREPARE STUDENTS WITH THE SKILLS AND CONFIDENCE TO PURSUE THE PATHS THEY CHOOSE-COLLEGE, CAREER, AND BEYOND-SO THEY CAN LEAD FULFILLING LIVES AND BUILD A MORE JUST WORLD. 15 13 1640 125 0 0 41162153 55878509 148873704 154263914 1991226 1283830 989495 2240938 193016578 213667191 211152 3271719 0 0 110580471 128969872 0 0 2768125 56016036 87022856 166807659 219264447 26208919 -5597256 454640868 479444732 280594767 296669911 174046101 182774821 X KIPP DC IS A NETWORK OF HIGH-PERFORMING PUBLIC SCHOOLS IN WASHINGTON, D.C. THAT EDUCATES NEARLY 7,000 STUDENTS. KIPP DC SCHOOLS EDUCATE AND SUPPORT STUDENTS IN THE DISTRICT OF COLUMBIA WHO HAVE HISTORICALLY HAD LIMITED ACCESS TO QUALITY EDUCATIONAL OPTIONS. (CONT'D ON SCH O) WE ARE GROUNDED IN A COMMITMENT TO EXCELLENCE, EQUITY, AND JUSTICE. WE BELIEVE ALL STUDENTS HAVE THE RIGHT TO RIGOROUS, RELEVANT, AND JOYFUL LEARNING EXPERIENCES LED BY EXCEPTIONALLY TALENTED AND DIVERSE EDUCATORS AND SUPPORT STAFF WHO PROMOTE STUDENT ACHIEVEMENT AND A SENSE OF BELONGING. 0 0 193044248 3271719 154465237 KIPP DC IS CONSISTENTLY AMONG THE HIGHEST-PERFORMING PREK-12 PUBLIC SCHOOL SYSTEMS IN THE DISTRICT OF COLUMBIA. IN ADDITION TO OPERATING HIGH-PERFORMING SCHOOLS, KIPP DC IS SUPPORTED BY TWO CRITICAL PROGRAMS CENTRAL TO THE GOAL OF SUPPORTING STUDENTS AND ALUMNI PURSUE THE PATHS THEY CHOOSE: KIPP FORWARD AND THE CAPITAL TEACHING RESIDENCY. KIPP FORWARD SUPPORTS ALUMNI ON THE JOURNEY TO AND THROUGH COLLEGE, CAREERS, AND BEYOND, HELPING THEM NAVIGATE APPLICATION AND ENROLLMENT PROCESSES, ACCESS SCHOLARSHIPS AND FINANCIAL AID, CONNECT WITH COUNSELORS AND ADVISORS TO SUPPORT THEM ON THEIR PATHWAY, AND DEVELOP THE CONFIDENCE AND SELF-ADVOCACY THEY NEED TO SUCCEED IN LIFE. THE CAPITAL TEACHING RESIDENCY IS AN AWARD-WINNING TEACHER TRAINING PROGRAM DESIGNED TO INCREASE THE PIPELINE OF HIGHLY-EFFECTIVE EDUCATORS IN THE DISTRICT OF COLUMBIA. 193044248 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 200 0 1 1640 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 13 0 0 0 1 0 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 DC X ANGELA ZHANG 2022655477 2600 VIRGINIA AVENUE NW 900 WASHINGTON DC 20037 SUSAN SCHAEFFLER MEMBER/CEO 50.00 1.00 X X 305371 0 31101 KATHY WILLIAMS MEMBER/TEACHER UNTIL 9/2021 1.00 X 108848 0 7516 ANTONIA OVIEDO MEMBER/TEACHER 50.00 X 82318 0 12132 TONY LEWIS BOARD CHAIR 3.00 X X 0 0 0 JOHN DUFF TREASURER 2.00 X X 0 0 0 DAVID BRADLEY MEMBER 1.00 X 0 0 0 CAROL LUDWIG MEMBER 1.00 X 0 0 0 PAMELA YEE MEMBER 1.00 X 0 0 0 MARTIN RODGERS MEMBER 1.00 X 0 0 0 SHANI OLA AROWOLAJU MEMBER/PARENT 1.00 X 0 0 0 CRYSTAL LOCKERMAN MEMBER/PARENT UNTIL 7/2022 1.00 X 0 0 0 JUDSON STARR MEMBER 1.00 X 0 0 0 REGINALD WORKMAN MEMBER/PARENT 1.00 X 0 0 0 BARRY CALDWELL MEMBER 1.00 X 0 0 0 RASHAD YOUNG MEMBER 1.00 X 0 0 0 MICHAEL PICKRUM MEMBER 1.00 X 0 0 0 ALLISON FANSLER PRESIDENT 50.00 0.50 X 272857 0 31470 DANE ANDERSON COO 50.00 0.50 X 305225 0 17599 KATIE COLE SECRETARY/GENERAL COUNSEL 50.00 1.00 X 191962 0 11518 SUSAN TOTH CHIEF ACADEMIC OFFICER 50.00 X 234221 0 19762 JACQUE PATTERSON CHIEF COMMUNITY ENGAGEMENT & GROWTH OFFICER 50.00 X 212410 0 14364 ANNA GREGORY CHIEF OF TALENT 50.00 X 209330 0 21953 JAMI DUNHAM CHIEF EQUITY & INCLUSION OFFICER 50.00 X 203500 0 12210 MICHAEL CORDELL PRINCIPAL 50.00 X 195926 0 37622 2321968 0 217247 166 0 1 0 MCN BUILD LLC 1214 28TH STREET NW WASHINGTON DC 20007 CONSTRUCTION SERVICES 75961081 PREFERRRED MEALS SERVICES INC 5240 ST CHARLES ROAD BERKELEY IL 60163 FOOD SERVICES 2658048 BUSY BEE ENVIRONMENTAL SERVICES 7826 EASTERN AVENUE NW SUITE 503 WASHINGTON DC 20012 CLEANING SERVICES 2571585 COPPERWOOD CAPITAL (LGC SECURITY) 700 PENNSYLVANIA AVE SE STE 540 WASHINGTON DC 20003 SECURITY SERVICES 2219307 DYNAMIC NETWORK SOLUTIONS INC 5067 LAKE CIRCLE WEST COLUMBIA MD 21044 TECHNOLOGY SERVICES 1721365 46 422019 49799728 5656762 55878509 PUPIL ALLOCATION & FEE 900099 154263914 154263914 154263914 1278490 1278490 584524 0 584524 584524 584524 51693317 51687977 5340 5340 5340 8584 0 8584 8584 OTHER INCOME 900099 1280769 1280769 CTR PLACEMENT FEES 900099 165738 165738 STUDENT UNIFORMS 900099 109480 109480 91843 91843 1647830 213667191 154465237 0 3323445 2766642 2766642 505077 505077 1579587 637994 941593 105424008 93915288 9533697 1975023 6092810 5182994 848535 61281 7008032 5927243 1011026 69763 8865435 7494943 1282470 88022 529383 303549 223551 2283 427122 244912 180368 1842 105167 105167 17543417 15400676 2127508 15233 7241962 4500558 2717632 23772 1086967 623268 459011 4688 8602339 8560512 41827 162576 2902 151683 7991 2900889 1891487 932388 77014 8151849 8151849 11980263 11980263 979825 979825 DIRECT STUDENT EXPENSE 18958708 18958708 FOOD SERVICE 5448826 5448826 CHARTER BOARD ADMIN FEE 1604061 1604061 CANCELLATION OF LEASE 124497 124497 1175005 546557 187235 441213 219264447 193044248 23452074 2768125 1325488 738074 97463085 49166875 18377823 29921748 1227202 2471286 4595542 1892682 357509662 67174810 258163750 290334852 54803691 62176049 18684287 42743166 454640868 479444732 27669437 11150289 77500 394948 212907266 237446823 15765016 10140812 24175548 37537039 280594767 296669911 X 158739415 176801490 15306686 5973331 174046101 182774821 454640868 479444732 X -5597256 -2304224 16630200 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9936360 9936360 97704378 20224495 77479883 246159113 45703442 200455671 1577311 1246873 330438 2132500 2132500 290334852 DEPOSITS 375167 DEFERRED RENTAL INCOME 1304 RIGHT OF USE ASSETS FOR OPERATING LEASES, NET 15421983 RIGHT OF USE ASSETS FOR FINANCE LEASES, NET 26944712 42743166 OPERATING LEASE 21104157 FINANCE LEASE 16432882 37537039 X 211257800 -2304224 -2304224 213562024 105167 105167 213667191 219034783 0 219034783 105167 124497 229664 219264447 PART X, LINE 2: KIPP DC PUBLIC CHARTER SCHOOLS IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE IRC AND IS NOT CONSIDERED TO BE A PRIVATE FOUNDATION. KIPP DC PUBLIC CHARTER SCHOOLS IS EXEMPT FROM FEDERAL TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. KIPP DC PUBLIC CHARTER SCHOOLS DID NOT HAVE ANY NET UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2022 AND 2021. KIPP DC IS THE SOLE MEMBER OF WOODROCK AND WOODROCK IS A DISREGARDED ENTITY FOR TAX PURPOSES. KIPP DC FOLLOWS THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, KIPP DC MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. INTEREST AND PENALTIES ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS ADDITIONAL INCOME TAXES IN THE CONSOLIDATED STATEMENTS OF ACTIVITIES. MANAGEMENT EVALUATED KIPP DC'S TAX POSITIONS AND CONCLUDED THAT KIPP DC HAS TAKEN NO UNCERTAIN POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THE GUIDANCE. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON CANCELLATION OF LEASE 124,497. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL CHILDREN ARE TREATED THE SAME REGARDLESS OF ABILITY TO PAY. IN THE OPERATION OF CHILD NUTRITION PROGRAMS NO CHILD WILL BE DISCRIMINATED AGAINST BECAUSE OF RACE, COLOR, SEX, AGE, DISABILITY, OR NATIONAL ORIGIN. THE SCHOOL'S NON-DISCRIMINATION POLICY CAN BE FOUND UNDER THE PUBLIC INFORMATION SECTION OF OUR WEBSITE. SCHEDULE E, PART I, LINE 6 KIPP DC WAS ORGANIZED FOR THE PURPOSE OF OPERATING A PUBLIC CHARTER SCHOOL FOR EDUCATIONALLY UNDERSERVED CHILDREN RESIDING IN WASHINGTON, D.C. KIPP DC RECEIVES A PER STUDENT ALLOCATION FROM THE DISTRICT OF COLUMBIA TO COVER THE COST OF ACADEMIC AND FACILITIES EXPENSES. KIPP DC ALSO RECEIVES OTHER GOVERNMENT GRANTS IN SUPPORT OF THIS MISSION. 1 KIPP DC SUPPORTING CORP 2600 VIRGINIA AVENUE NW 900 WASHINGTON DC 20037 471876264 501(C)(3) 2766642 0 PROGRAM SERVICES 1 0 SCHOLARSHIPS 298 505077 PART I, LINE 2: THE STUDENTS SUBMIT APPLICATIONS AND ARE INTERVIEWED FOR THE MATCH AND PERSISTENCE SCHOLARSHIPS. THE APPLICANTS ARE ASSESSED BASED ON NEED AND PERFORMANCE BY AN INTERNAL REVIEW TEAM. CHECKS ARE CUT TO THE UNIVERSITY SPECIFYING THE STUDENT AND STUDENT ID FOR EACH PAYMENT WHICH IS HOW WE MONITOR THE FUNDS. WE PROCESS PAYMENTS THROUGH ANYBILL OR CREDIT CARD PAYMENTS DEPENDING ON THE UNIVERSITY REQUIREMENTS AND OUR PAYABLES TEAM CODES EXPENSES. WE ALSO TRACK THE AWARD AMOUNT AND ANY PAYMENTS MADE ON BEHALF OF THE INDIVIDUAL IN A CUFF RECORD. X X 0 0 0 0 0 0 0 1 0 SUSAN SCHAEFFLER MEMBER/CEO 304371 0 1000 0 0 0 23461 0 7640 0 336472 0 0 0 DANE ANDERSON COO 254225 0 51000 0 0 0 17599 0 522 0 323346 0 0 0 ALLISON FANSLER PRESIDENT 269857 0 3000 0 0 0 16950 0 15020 0 304827 0 0 0 SUSAN TOTH CHIEF ACADEMIC OFFICER 233221 0 1000 0 0 0 12622 0 7140 0 253983 0 0 0 MICHAEL CORDELL PRINCIPAL 193801 0 2125 0 0 0 12647 0 24975 0 233548 0 0 0 ANNA GREGORY CHIEF OF TALENT 208330 0 1000 0 0 0 12347 0 9606 0 231283 0 0 0 JACQUE PATTERSON CHIEF COMMUNITY ENGAGEMENT & GROWTH 211410 0 1000 0 0 0 12824 0 1646 0 226880 0 0 0 JAMI DUNHAM CHIEF EQUITY & INCLUSION OFFICER 202500 0 1000 0 0 0 12210 0 0 0 215710 0 0 0 KATIE COLE SECRETARY/GENERAL COUNSEL 190962 0 1000 0 0 0 11518 0 0 0 203480 0 0 0 PART I, LINE 3 THE BOARD CHAIR LEADS THE PROCESS FOR RECOMMENDING THE COMPENSATION LEVEL FOR THE CEO AND THE FULL BOARD OF DIRECTORS APPROVES THE FINAL CEO COMPENSATION LEVEL. THE CHAIR CONSIDERS THE FOLLOWING FACTORS IN DEVELOPING THE RECOMMENDED CEO COMPENSATION: COMPARABLE DATA INCLUDING DATA FROM OTHER KIPP REGIONS AND AN ANALYSIS BY A NATIONAL CHARTER SCHOOL FUNDER ON CEO COMPENSATION RELATIVE TO GEOGRAPHY AS WELL AS NUMBER OF SCHOOLS; THE CHANGE IN SCALE AND SCOPE OF THE ORGANIZATION; THE ORGANIZATION'S PERFORMANCE AS WELL AS STUDENT PERFORMANCE; THE CEO'S PRIOR COMPENSATION; AND THE FINANCIAL ABILITY OF THE ORGANIZATION TO PAY THE RECOMMENDED COMPENSATION. PART I, LINE 7 BONUSES WERE MANAGEMENT APPROVED BASED ON THE INDIVIDUAL'S PERFORMANCE. A REFUNDING REVENUE BONDS KIPP DC ISSUE SERIES 2017A AND SERIES 2017B 536001131 25483VTT1 2017-12-28 144670244 TO DEFEASE SERIES 2013, REFINANCE SERIES 2014&2015, REFINANCE NOTE PAYABLE 1 0 0 B REVENUE BONDS (KIPP DC ISSUE) SERIES 2019 536001131 25483VWD2 2019-10-29 61325000 REFINANCE EXISTING DEBT, FINANCE RENOVATION & EXPANSION OF BENNING CAMPUS 0 0 0 C VARIABLE RATE REVENUE BONDS (KIPP DC ISSUE) SERIES 2020 536001131 2020-12-17 50000000 FINANCE THE ACQUISITION, RENOVATION AND DEVELOPMENT OF THE HIGHLANDS CAMPUS 0 0 0 A 7135000 144670244 4149250 1718843 138802151 2018 1 0 1 1 B 1775000 67392306 1801475 490831 39984664 25115336 2021 0 0 0 1 C 50000000 40000000 10000000 0 0 0 1 A 0 0 0 0 0.00900 0.00000 0.00900 0 0 1 B 0 0 0 0 0.00160 0.00000 0.00160 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 C 0 0 0 0 1 0 0 0 0 A 1 B 1 C 1 VARIABLE RATE REVENUE BONDS (KIPP DC ISSUE) SERIES 2020 ON DECEMBER 17, 2020, KIPP DC, THROUGH THE DISTRICT OF COLUMBIA, ISSUED $50,000,000 OF DISTRICT OF COLUMBIA VARIABLE RATE REVENUE BONDS (KIPP DC ISSUE SERIES 2020). THE PROCEEDS ARE BEING USED TO FINANCE THE RENOVATION AND EXPANSION OF THE KIPP DC HIGHLANDS CAMPUS, FUND ANY DEBT SERVICE RESERVE FUNDS AND PAY FOR DEBT ISSUANCE COSTS ASSOCIATED WITH THE KIPP DC SERIES 2020 BONDS. THE INTEREST RATE IS FIXED. THE EFFECTIVE INTEREST RATE OF THE DEBT IS APPROXIMATELY 2.3%. MONTHLY INTEREST PAYMENTS COMMENCED FEBRUARY 1, 2021 AND PRINCIPAL PAYMENTS WILL COMMENCE IN DECEMBER 2022. AS OF JUNE 30, 2022, THE ORGANIZATION HAD WITHDRAWN $40,000,000. FORM 990, PART I, LINE 6, ESTIMATED NUMBER OF VOLUNTEERS VOLUNTEERS SUPPORT KIPP DC THROUGH A WIDE RANGE OF PROJECTS INCLUDING TUTORING, MENTORSHIP, CAMPUS BEAUTIFICATION, AND THE CHAPERONING OF FIELD TRIPS. FORM 990, PART VI, SECTION A, LINE 5 IN DECEMBER 2021, KIPP DC DISCOVERED THAT A FORMER EMPLOYEE DEFRAUDED THE NETWORK OF $2.2 MILLION INTENDED FOR STUDENT TECHNOLOGY AND SERVICES. WITHIN DAYS OF KIPP DC BECOMING AWARE OF POTENTIAL IRREGULARITIES, KIPP DC ALERTED THE DC U.S. ATTORNEY'S OFFICE, WHICH SUBSEQUENTLY INVESTIGATED. KIPP DC ALSO HIRED OUTSIDE COUNSEL TO CONDUCT AN INTERNAL INVESTIGATION. THE U.S. DEPARTMENT OF JUSTICE (DOJ), ALONG WITH KIPP DC'S INTERNAL INVESTIGATION, CONCLUDED THAT THE FRAUD WAS AN ISOLATED INCIDENT CONDUCTED BY A SINGLE INDIVIDUAL. THE DOJ HAS FILED A CIVIL FORFEITURE SUIT TO RECOVER AS MANY OF THE DEFRAUDED ASSETS AS POSSIBLE. KIPP DC HAS ALREADY RECOVERED $1 MILLION FROM INSURANCE AND MANAGEMENT IS OPTIMISTIC THAT WE WILL RECOVER ANOTHER $800,000 THROUGH THE DOJ'S ASSET RECOVERY SUIT. AT ALL TIMES, KIPP DC HAS MADE EVERY EFFORT TO SUPPORT THE U.S. ATTORNEY'S OFFICE AND DOJ AND HAS BEEN PROACTIVE IN ADDRESSING THE SITUATION WITH ITS AUTHORIZER, THE PUBLIC CHARTER SCHOOL BOARD. SINCE DISCOVERING THE FRAUD, KIPP DC'S MANAGEMENT HAS TAKEN STEPS TO BUILD ON EXISTING FINANCIAL CONTROLS AND OVERSIGHT PRACTICES, ESPECIALLY AROUND ASSET MANAGEMENT AND VENDOR VERIFICATION. KIPP DC'S BOARD HAS ADDED AN AUDIT COMMITTEE, AND KIPP DC IS IN THE PROCESS OF ADDING A MANAGING DIRECTOR OF COMPLIANCE ROLE, WHICH WILL SERVE AN INTERNAL AUDIT FUNCTION. FORM 990, PART VI, SECTION A, LINE 7B THE DISTRICT OF COLUMBIA PUBLIC CHARTER SCHOOL BOARD (PCSB) IS KIPP DC'S CHARTERING AUTHORITY AND HAS A DUTY TO MONITOR THE ACADEMIC ACHIEVEMENTS AND FISCAL MANAGEMENT OF ALL DC PUBLIC CHARTER SCHOOLS. CERTAIN CONTRACTS WITH A VALUE OF $25,000 OR MORE MUST BE APPROVED BY THE KIPP DC BOARD OF DIRECTORS AND SUBMITTED FOR REVIEW BY THE PCSB. FORM 990, PART VI, SECTION B, LINE 11B KIPP DC'S FINANCE COMMITTEE, A COMMITTEE OF THE BOARD OF DIRECTORS, MEETS WITH MANAGEMENT AND THE FORM 990 PAID PREPARERS TO REVIEW THE FINAL DRAFT OF THE FORM 990. AFTER THIS REVIEW, THE FINAL DRAFT OF THE FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE KIPP DC BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C KIPP DC'S DIRECTORS COMPLETE AN ANNUAL STATEMENT AFFIRMING THAT THEY HAVE RECEIVED A COPY OF KIPP DC'S CONFLICTS OF INTEREST POLICY, HAVE READ AND UNDERSTOOD THE POLICY, AND AGREE TO COMPLY WITH THE POLICY. THEY ALSO DISCLOSE IN THE ANNUAL STATEMENT ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST THEY MAY HAVE. AFTER DISCLOSURE OF THE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST AND ALL MATERIAL FACTS, THE INTERESTED PERSON MUST LEAVE THE BOARD OF DIRECTORS MEETING. THE BOARD OF DIRECTORS THEN DECIDES IF A CONFLICT OF INTEREST EXISTS AND, IF SO, THE PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD CHAIR LEADS THE PROCESS FOR RECOMMENDING THE COMPENSATION LEVEL FOR THE CEO, AND THE FULL BOARD OF DIRECTORS APPROVES THE FINAL CEO COMPENSATION LEVEL. THE CHAIR CONSIDERS THE FOLLOWING FACTORS IN DEVELOPING THE RECOMMENDED CEO COMPENSATION: COMPARABLE DATA INCLUDING DATA FROM OTHER KIPP REGIONS AND AN ANALYSIS BY A NATIONAL CHARTER SCHOOL FUNDER ON CEO COMPENSATION RELATIVE TO GEOGRAPHY AS WELL AS NUMBER OF SCHOOLS; THE CHANGE IN SCALE AND SCOPE OF THE ORGANIZATION; THE ORGANIZATION'S PERFORMANCE AS WELL AS STUDENT PERFORMANCE; THE CEO'S PRIOR COMPENSATION; AND THE FINANCIAL ABILITY OF THE ORGANIZATION TO PAY THE RECOMMENDED COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: GAIN ON EXTINGUISHMENT OF DEBT, NET 16,630,200. WOODROCK LLC 2600 VIRGINIA AVE NW SUITE 900 WASHINGTON DC 20037 582684134 LEASE HOLDER DC 0 0 KIPP DC PUBLIC CHARTER SCHOOLS KIPP DC SUPPORTING CORP 2600 VIRGINIA AVENUE NW WASHINGTON DC 20037 471876264 SUPPORT KIPP DC DC 501(C)(3) LINE 12C, III-FI N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0