2023-11-15T12:40:31-06:00 2022-12-31 873707167 CBIZ MARKS PANETH LLC 685 THIRD AVENUE NEW YORK NY 10017 990 2022-01-01 237173492 A BETTER CHANCE INC ABET 6463461310 253 W 35TH STREET 15TH FLOOR NEW YORK NY 10001 FRANCISCO TEZEN PRESIDENT & CEO 6463461310 2023-11-15 1 FRANCISCO TEZEN 999009999 1 MAGDALENA CZERNIAWSKI P00535099 2125038800 2023-11-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z FRANCISCO TEZEN 253 W 35TH STREET 15TH FLOOR NEW YORK NY 10001 7495560 0 X WWW.ABETTERCHANCE.ORG X 1971 MA A NATIONAL, EDUCATIONAL EQUITY ORG THAT HELPS YOUNG PEOPLE OF COLOR PREPARE TO BE LEADERS. 21 19 38 21 0 0 4943904 4701239 249100 245445 1114933 500124 32174 -29096 6340111 5417712 47864 113714 0 0 2272249 3014621 0 0 979141 1767545 1856103 4087658 4984438 2252453 433274 16472167 17353052 3110878 5587028 13361289 11766024 X TO INCREASE THE NUMBER OF WELL-EDUCATED YOUNG PEOPLE OF COLOR CAPABLE OF ASSUMING RESPONSIBILITY AND LEADERSHIP ROLES IN AMERICAN SOCIETY. 0 0 3393469 113714 245762 SINCE 1963, A BETTER CHANCE HAS ACCOMPLISHED ITS MISSION BY NATIONALLY RECRUITING, PLACING AND PROVIDING SUPPORT TO A COMMUNITY OF OVER 2,000 ACADEMICALLY TALENTED YOUTH OF COLOR THROUGH ITS SIGNATURE COLLEGE PREPARATORY SCHOOLS PROGRAM. OUR SUCCESS IS EVIDENT IN THE OVER 18,000 ALUMNI WHO HAVE BECOME GREAT INNOVATORS, THINKERS AND LEADERS IN THEIR RESPECTIVE FIELDS. IN 2022, A BETTER CHANCE ACHIEVED 370 PLACEMENTS FROM A POOL OF 700 AND SAW NEARLY 100% OF GRADUATING HS SCHOLARS ENROLLING IN COLLEGE (SEE SCHEDULE O FOR DETAILS). WE HOSTED VIRTUAL AND IN-PERSON SCHOOL FAIRS WITH 98% OF OUR SCHOOL PARTNERS PARTICIPATING AND ALSO LED VIRTUAL WORKSHOPS, VIRTUAL INTERVIEW DAYS AND OUR SIGNATURE SUMMER LEADERSHIP ACADEMY (SLA) TO HELP FAMILIES BETTER NAVIGATE AND UNDERSTAND THE APPLICATION, ACCEPTANCE AND PLACEMENT PROCESS. OF THE 700 STUDENTS ACCEPTED TO THE PROGRAM, 70% PARTICIPATED IN A SLA WORKSHOP. 3393469 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 27 0 1 38 1 0 0 0 0 0 1 1 0 0 0 0 X 21 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AK AL AR AZ CA CO CT DC FL GA IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN VA WA WI WV HI UT X X FRANCISCO TEZEN PRESIDENT & CEO 6463461352 253 W 35TH STREET 15TH FLOOR NEW YORK NY 10001 A LOUIS PARKER VICE CHAIR 2.00 X X 0 0 0 ALLISON LAWRENCE DIRECTOR 2.00 X 0 0 0 EKENE EZULIKE DIRECTOR 2.00 X 0 0 0 FRANCISCO TEZEN PRESIDENT & CEO 37.50 X X 309561 0 85601 GENNELL JEFFERSON DIRECTOR 2.00 X 0 0 0 GERALD KEEFE DIRECTOR 2.00 X 0 0 0 KEITH EVANS DIRECTOR 2.00 X 0 0 0 KURT VAN WAGENEN DIRECTOR 2.00 X 0 0 0 MICHELLE M GITTENS DIRECTOR 2.00 X 0 0 0 NICOLE MELWOOD DIRECTOR 2.00 X 0 0 0 RHONDA TROTTER VICE-CHAIR 2.00 X X 0 0 0 ROB FULLERTON DIRECTOR 2.00 X 0 0 0 ROGER G ARRIEUX JR DIRECTOR 2.00 X 0 0 0 ROXANE GAY DIRECTOR 2.00 X 0 0 0 SHEA MANIGO DIRECTOR 2.00 X 0 0 0 SHEILA MARMON DIRECTOR 2.00 X 0 0 0 STAR MCDADE DIRECTOR 2.00 X 0 0 0 SUZAN MORNO-WADE DIRECTOR 2.00 X 0 0 0 TAYO FAMAKINWA DIRECTOR 2.00 X 0 0 0 THEO KILLION CHAIR 2.00 X X 0 0 0 TRACEY KOZIOL DIRECTOR 2.00 X 0 0 0 DAMARIS HERON-WATKINS DIR. OF FINANCE & ADMIN 37.50 X 161206 0 28040 BENJAMIN BINGMAN-TENNANT DIR. OF PROGRAMS 37.50 X 165631 0 29484 KAREN JOHNS DIRECTOR OF EXTERNAL AFFAIRS (OUTGOING) 37.50 X 101731 0 4455 SAKINAH BIBBINS GARCIA DEPUTY DIRECTOR OF DEVELOPMENT 37.50 X 102752 0 11248 840881 0 158828 5 0 1 0 BEACON HILL STAFFING GROUP LLC PO BOX 846193 BOSTON MA 022846193 STAFFING SERVICES 138345 1 1006245 3694994 100995 4701239 SCHOOL MEMBERSHIP DUES 611600 233900 233900 REGISTRATION FEES 900099 11545 11545 245445 216312 216312 2253722 1969910 283812 283812 283812 78525 1006245 107938 -29413 -29413 MISCELLANEOUS 900099 317 317 317 5417712 245762 0 470711 113714 113714 584409 428677 50538 105194 1940612 1356398 204491 379723 2902 1192 979 731 285445 207246 25868 52331 201253 146174 18273 36806 52559 52559 71167 42556 15135 13476 346236 160636 10651 174949 50404 21373 10955 18076 296976 224204 21240 51532 78203 62782 11786 3635 86774 57897 12843 16034 14841 9291 2822 2728 27253 18856 2678 5719 EQUIPMENT PURCHASES 281119 216170 25375 39574 SUBSCRIPTION AND DUES 204660 153395 20083 31182 TESTING & PROGRAMMING 112263 112263 BAD DEBT 94774 94774 138874 60645 30778 47451 4984438 3393469 611828 979141 19 42 2533887 1778379 1999771 2990127 35325 56350 149183 208359 197883 106709 81008 91174 10458842 9188581 1214132 3040040 16472167 17353052 196956 250769 326881 126932 2524087 2959337 62954 2249990 3110878 5587028 X -1624111 -1666976 14985400 13433000 13361289 11766024 16472167 17353052 X 433274 -1772165 -256374 X X 0 1 X 1 0 X 3083432 2508425 4261300 4943904 4701239 19498300 3083432 2508425 4261300 4943904 4701239 19498300 1697521 17800779 250151 248072 233520 219368 216312 1167423 45500 33250 32174 78842 189766 20855489 1467765 0.85350 0.82830 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECIAL EVENT CONTRIBUTIONS - 2018 AMOUNT: $ 45,500. 2019 AMOUNT: $ 33,250. 2022 AMOUNT: $ 78,525. MISCELLANEOUS INCOME - 2021 AMOUNT: $ 32,174. 2022 AMOUNT: $ 317. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10835877 -1347435 120871 9367571 10391790 1228115 784028 10835877 10208647 933406 686520 63743 10391790 9258528 1729049 734100 44830 10208647 10338413 -661540 418345 9258528 0.01559 0.98451 1 0 102984 20574 82410 94899 86135 8764 91174 BENEFICIAL INTEREST IN PERPETUAL TRUST 957758 OPERATING LEASE RIGHT-OF-USE ASSETS 2082282 3040040 OPERATING LEASE LIABILITIES 2249990 2249990 X 3874380 -1772165 300000 -1472165 5346545 71167 71167 5417712 5213271 300000 300000 4913271 71167 71167 4984438 PART V, LINE 4: THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE FOR CAPITAL PRESERVATION, FUTURE GROWTH AND OPERATIONAL PURPOSES. PART X, LINE 2: THE ORGANIZATION BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2022 AND 2021, IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. BENEFIT DINNER 1084770 1006245 78525 107938 1084770 1006245 78525 107938 107938 -29413 1 SCHOLARSHIP AWARDS AND RESIDENTIAL ASSISTANCE 64 113714 PART I, LINE 2: SAFETY NET AWARDS ARE GRANTED TO COVER COSTS OF SUPPLEMENTAL EDUCATIONAL OPPORTUNITIES SUCH AS STUDY-ABROAD PROGRAMS, SUMMER ENRICHMENT OPPORTUNITIES AND SCHOOL TRIPS. THESE GRANTS ARE EITHER PAID DIRECTLY TO THE ORGANIZATION OR SCHOOL SPONSORING THE PROGRAM OR AS A REIMBURSEMENT FOR A PROGRAM THAT A SCHOLAR'S FAMILY HAS ALREADY PAID FOR. FOR ALL SCHOLARSHIP AWARDS GIVEN DIRECTLY TO STUDENTS (SUCH AS A BETTER CHANCE AWARDS GIVEN AT THE ANNUAL LUNCHEON), 1099'S ARE ISSUED TO ANYONE RECEIVING MORE THAN A TOTAL OF $600. X X 0 0 0 0 0 0 0 1 0 FRANCISCO TEZEN PRESIDENT & CEO 264561 0 45000 0 0 0 67750 0 17851 0 395162 0 0 0 BENJAMIN BINGMAN-TENNANT DIR. OF PROGRAMS 160631 0 5000 0 0 0 20500 0 8984 0 195115 0 0 0 DAMARIS HERON-WATKINS DIR. OF FINANCE & ADMIN 156206 0 5000 0 0 0 1689 0 26351 0 189246 0 0 0 PART I, LINE 7 THE CEO'S BONUS WAS LINKED TO AGREED UPON GOALS IN HIS OFFER LETTER. THE BONUS AMOUNT FOR STAFF IS APPROVED BY THE PRESIDENT & CEO AND THE CHAIRMAN OF THE BOARD. THE BONUS AMOUNT FOR THE PRESIDENT & CEO IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. X 4 33125 FMV X TEST WAIVERS 2 66370 FMV X OTHER SUPPLIES 1 1500 FMV 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT AND WILL BE REVIEWED BY MANAGEMENT AND THEN BE SENT TO MEMBERS OF THE FINANCE COMMITTEE FOR REVIEW. THE RETURN WILL BE SENT TO ALL BOARD MEMBERS TO REVIEW AND COMMENT BEFORE THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY FORM IS REQUIRED TO BE SIGNED EVERY YEAR BY THE BOARD AND SENIOR MANAGEMENT. THE BOARD AND SENIOR MANAGEMENT ARE ACTIVE IN KNOWLEDGE OF EACH OTHER'S CAREERS AND INTERESTS TO ENSURE THAT THIS POLICY IS ENFORCED." FORM 990, PART VI, SECTION B, LINE 15A THE BOARD CHAIR GATHERED DATA ON CEO SALARIES FROM COMPARABLE INDUSTRY ORGANIZATIONS AND FROM SALARY SURVEYS. THIS DATA WAS PRESENTED TO THE EXECUTIVE COMMITTEE, WHICH THEN SET THE CEO'S SALARY FOR 2021. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC ON WWW.ABETTERCHANCE.ORG FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -256,374. FORM 990, PART XI LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT HAS NOT BEEN CHANGED FROM THE PRIOR YEAR.