2022-04-18T17:49:03-05:00 2021-05-31 910189318 MOSS ADAMS LLP 101 SECOND STREET SUITE 900 SAN FRANCISCO CA 94105 990 2020-06-01 940948140 BERKELEY STUDENT COOPERATIVE INC BERK 5108481936 2424 RIDGE ROAD BERKELEY CA 94709 DAVE CHELSEA-SEIFERT OPERATIONS MANAGER/ACTING E.D. 5108481936 2022-04-18 1 DAVE CHELSEA-SEIFERT 999009999 MICHAEL LUMSDEN P01262236 4159561500 2022-04-18 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z DAVE CHELSEA-SEIFERT 2424 RIDGE ROAD BERKELEY CA 94709 15490207 0 X WWW.BSC.COOP X 1934 CA TO PROVIDE A QUALITY, LOW COST, COOPERATIVE HOUSING COMMUNITY TO UNIVERSITY STUDENTS WHO OTHERWISE MIGHT NOT BE ABLE TO AFFORD A UNIVERSITY EDUCATION. 26 20 70 1234 0 0 791681 1156947 10450145 9078796 478308 275534 593193 82645 12313327 10593922 198772 193243 0 0 3505820 3994837 0 0 210057 6644529 6449914 10349121 10637994 1964206 -44072 56996489 57970092 23737583 20017091 33258906 37953001 TO PROVIDE A QUALITY, LOW-COST, COOPERATIVE HOUSING COMMUNITY TO UNIVERSITY STUDENTS, THEREBY PROVIDING AN EDUCATIONAL OPPORTUNITY FOR STUDENTS WHO MIGHT NOT OTHERWISE BE ABLE TO AFFORD A UNIVERSITY EDUCATION. 0 0 7500420 193243 9078796 THE BERKELEY STUDENT COOPERATIVE (BSC) IS A NONPROFIT HOUSING COOPERATIVE PROVIDING AFFORDABLE HOUSING AND BOARD TO STUDENTS AT UC BERKELEY AND OTHER BAY AREA COLLEGES AND UNIVERSITIES. BSC HAS APPROXIMATELY 1,300 STUDENT MEMBERS LIVING IN OR EATING AT OUR SEVENTEEN HOUSES AND THREE APARTMENT COOPERATIVES AROUND THE UC BERKELEY CAMPUS. EACH HOUSE IS DEMOCRATICALLY RUN, WHERE ALL MEMBERS CONTRIBUTE LABOR TO KEEP HOUSING COSTS AFFORDABLE. 7500420 1 1 0 1 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 30 0 70 1 0 0 0 0 0 0 0 0 0 0 0 0 X 26 20 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CA X X JUHANDRYN DESSAMES 5105495959 2424 RIDGE ROAD BERKELEY CA 94709 KIM BENSON EXECUTIVE DIRECTOR (THROUGH 2/2021) 40.00 X 168643 0 21375 STEVE CATANO FINANCE & ACCTG MGR (THROUGH 5/2021) 40.00 X 120514 0 29665 MADELEINE LOH DEV DIR/BOARD MEMBER (THROUGH 10/2020) 40.00 X 102348 0 17095 MIGUEL DUARTE CFS SUPERVISOR/BOARD MEMBER START 11/2020 40.00 X 71791 0 12250 ALEX QUINTERO VP OF CAPITAL & FINANCES (FALL) 20.00 X X 6891 0 0 ARI CHIVUKULA SUMMER PRESIDENT 20.00 X X 2311 0 0 TOMMY CHUNG PRESIDENT 25.00 X X 2168 0 0 MINDY DAI VICE PRESIDENT OF INTERNAL AFFAIRS 20.00 X X 2157 0 0 VIVIAN NEDELTCHEV BOARD MEMBER 5.00 X 1099 0 0 TEENA LORIE HARRIS INTERIM EXEC. DIR. (START 3/2021) 40.00 X 0 0 0 PROSPER AMIE BOARD MEMBER (SPRING) 5.00 X 0 0 0 DYLAN ARTUNIAN BOARD MEMBER 5.00 X 0 0 0 ALEXANDRA BAUM BOARD MEMBER (PARTIAL FALL) 10.00 X 0 0 0 SAVON BARDELL BOARD MEMBER 5.00 X 0 0 0 SYNDEY BUFORD BOARD MEMBER (PARTIAL FALL/SPRING) 5.00 X 0 0 0 ELLIE CAWTHON BOARD MEMBER 10.00 X 0 0 0 SHMUEL COOPER VICE PRESIDENT OF EXTERNAL AFFAIRS 20.00 X X 0 0 0 ADITI DASH BOARD DIRECTOR (LATE FALL/SPRING) 5.00 X 0 0 0 DYLAN EARP BOARD MEMBER 5.00 X 0 0 0 JOHN EHRLICH ALUMNI ASSOCIATION BOARD MEMBER 5.00 X 0 0 0 GENNA FUDIN BOARD MEMBER 5.00 X 0 0 0 BEN KELLY BOARD MEMBER/VP OF CAPITAL & FINANCES (SPRING) 20.00 X X 0 0 0 TROY LIPKIN-PARKER BOARD DIRECTOR (SPRING) 5.00 X 0 0 0 MAURENA MCKEE BOARD MEMBER (SPRING) 5.00 X 0 0 0 KIMBERLY MEJIA VP OF EXPERIENCE & TRAINING 20.00 X X 0 0 0 DANIEL MILUTIN BOARD MEMBER 5.00 X 0 0 0 AMIT NARANG BOARD MEMBER 5.00 X 0 0 0 ANNA PAN BOARD MEMBER 5.00 X 0 0 0 JASKRIET RAY BOARD MEMBER 5.00 X 0 0 0 CONNIE ROBINSON BOARD MEMBER 5.00 X 0 0 0 TAMLYN SCHAFER BOARD MEMBER (PARTIAL FALL) 5.00 X 0 0 0 YAXUAN X SUN BOARD MEMBER 5.00 X 0 0 0 NEIL THOMAS BOARD MEMBER 5.00 X 0 0 0 JUSTIN URIBE BOARD MEMBER 5.00 X 0 0 0 VICTOR VASQUEZ BOARD MEMBER (SPRING) 5.00 X 0 0 0 MATTHEW VILLA BOARD MEMBER 5.00 X 0 0 0 ANNIE WONG BOARD MEMBER (SPRING) 5.00 X 0 0 0 DYLAN WILLIAMS BOARD DIRECTOR 5.00 X 0 0 0 KELLY YUN ALUMNI ASSOCIATION BOARD MEMBER 5.00 X 0 0 0 SARAH ZHANG BOARD MEMBER (PARTIAL FALL/SPRING) 10.00 X 0 0 0 FABIAN ZUNIGA VILLA BOARD MEMBER (SPRING) 5.00 X 0 0 0 477922 0 80385 3 0 1 0 0 1156947 1156947 ROOM AND BOARD REVENUE 721310 6153386 6153386 APARTMENT RENTALS 721310 2679564 2679564 OTHER OPERATING REVENUE 721310 245846 245846 9078796 300219 300219 4871600 4896285 -24685 -24685 -24685 MISCELLANEOUS REVENUE 900099 82645 82645 82645 10593922 9078796 0 358179 193243 193243 770059 103948 601750 64361 2766198 2101917 577255 87026 125793 107460 15363 2970 154656 125534 23821 5301 178131 113825 56855 7451 12891 12891 38550 38550 10746 10746 81216 81216 293362 293362 103068 51534 46381 5153 1184151 1124943 59208 7965 7965 427393 427393 1805500 1733199 72301 490463 490463 FOOD EXPENSE 984373 984373 REPAIRS & MAINTENANCE 707979 672580 35399 BAD DEBT 106648 106648 BOARD & STAFF TRAINING 41305 41305 154304 116509 37795 10637994 7500420 2927517 210057 4404243 4235101 3983358 3536547 269155 67686 1120740 1204845 73944286 39964765 34824704 33979521 12093835 14700259 300454 246133 56996489 57970092 592261 218428 6537978 5543869 15929882 13607262 122383 45982 555079 601550 23737583 20017091 X 32378160 35242783 880746 2710218 33258906 37953001 56996489 57970092 -44072 1944616 2793551 0 X 0 1 X 1 0 X 447979 1249198 664921 791681 1156947 4310726 10244787 10403025 10988029 10599350 9078796 51313987 10692766 11652223 11652950 11391031 10235743 55624713 0 0 0 55624713 339806 504155 805839 593900 300219 2543919 339806 504155 805839 593900 300219 2543919 191891 187994 61222 164395 82645 688147 11224463 12344372 12520011 12149326 10618607 58856779 0.94510 0.94300 0.04320 0.04270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 0 PART II-B, LINE 1: DURING FY2021, THE ORGANIZATION MADE THE FOLLOWING ENDORSEMENTS FOR CALIFORNIA BALLOT PROPOSITIONS: YES ON PROPOSITION 16 (TO SUPPORT AFFIRMATIVE ACTION); YES ON PROPOSITION 17 (TO SUPPORT ENFRANCHISEMENT OF ITS MEMBERS WHO ARE ON PAROLE); YES ON PROPOSITION 18 (TO SUPPORT ENFRANCHISEMENT OF ITS MEMBERS WHO ARE 17 YEARS OR YOUNGER); NO ON PROPOSITION 20 (TO OPPOSE EXPANDING THE PRISON SYSTEM); YES ON PROPOSITION 21 (TO SUPPORT AFFORDABLE HOUSING); AND NO ON PROPOSITION 22 (TO SUPPORT WORKERS' RIGHTS). ANY EXPENSES ASSOCIATED WITH THE SUPPORT OR OPPOSITION OF THESE BALLET MEASURES ARE NEGLIGIBLE. 0 1 X 935952 193243 193243 935952 935952 198772 198772 935952 935952 165597 4819 170416 935952 935952 106961 7001 113962 935952 878848 22773 142324 107993 935952 0.11000 0.89000 0.00000 0 0 1445551 1445551 68623374 36246815 32376559 3875361 3717950 157411 33979521 REFUNDABLE DEPOSITS 601550 601550 X 12538538 1944616 1944616 10593922 0 10593922 10637994 0 10637994 0 10637994 PART IV, LINE 2B: CERTAIN CASH ACCOUNTS ARE MAINTAINED BY THE VARIOUS HOUSES FOR TRANSACTIONS OCCURRING AT THE HOUSE LEVEL. CASH GENERALLY IS RAISED FROM HOUSE MEMBERS AND IS HELD IN BANK ACCOUNTS UNDER THE ORGANIZATION'S NAME. EXPENDITURES FROM THESE ACCOUNTS MUST ADHERE TO THE ORGANIZATION'S POLICIES AND ARE SUBJECT TO REVIEW. A CORRESPONDING LIABILITY IS INCLUDED IN THE STATEMENT OF FINANCIAL POSITION TO REFLECT THESE ASSETS ARE TO FUNDS NOT UNDER THE ORGANIZATION'S DIRECTION. PART V, LINE 4: BSC MAINTAINS ENDOWED SCHOLARSHIP FUNDS TO ENSURE THAT IT IS ABLE TO OFFER BSC MEMBERS WITH FINANCIAL NEED SCHOLARSHIPS IN PERPETUITY. PART X, LINE 2: THE ORGANIZATION HAS ADOPTED FASB ACCOUNTING STANDARD CODIFICATION (ASC) 740-10, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. ASC SECTION 740-10 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. ASC 740-10 REQUIRES THAT AN ORGANIZATION RECOGNIZE IN THE FINANCIAL STATEMENTS THE IMPACT OF THE TAX POSITION IF THAT POSITION WILL MORE LIKELY THAN NOT BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. AS OF AND FOR THE YEAR ENDED MAY 31, 2021, THE ORGANIZATION HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS, TAX PENALTIES OR INTEREST. 1 SCHOLARSHIPS FOR MEMBERS OF BSC 169 192243 PART I, LINE 2: SCHOLARSHIPS FOR INDIVIDUAL BSC MEMBERS ARE GRANTED ON THE BASIS OF UNMET FINANCIAL NEED, BASED ON INFORMATION GENERATED BY THE UNIVERSITY FINANCIAL AID OFFICE AT UC BERKELEY AND/OR OTHER BAY AREA COLLEGES/UNIVERSITIES. X X X 0 0 0 0 0 0 0 0 0 KIM BENSON EXECUTIVE DIRECTOR (THROUGH 2/2021) 168643 0 0 0 0 0 13491 0 7884 0 190018 0 0 0 STEVE CATANO FINANCE & ACCTG MGR (THROUGH 5/2021) 120514 0 0 0 0 0 9656 0 20009 0 150179 0 0 0 A CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY 352273601 NONEAVAIL 2018-10-01 15869099 REFUND BOND DATED 9/22/2016 0 0 0 A 896584 15869099 15869099 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 SYDNEY BUFORD BOARD MEMBER 2284 RENT STIPEND SCHOLARSHIP GENNA FUDIN BOARD MEMBER 960 RENT STIPEND SCHOLARSHIP DANIEL MILUTIN BOARD MEMBER 1284 RENT STIPEND SCHOLARSHIP ALEX QUINTERO VP OF CAPITAL & FINANCE 450 RENT STIPEND SCHOLARSHIP FABIAN ZUNIGA VILLA BOARD MEMBER 5173 RENT STIPEND SCHOLARSHIP FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S MEMBERS, AS DEFINED BY THE BYLAWS, ARE LIMITED TO ONLY FULL-TIME STUDENTS OF ANY POST-SECONDARY SCHOOL WITH CURRENT RENT AND/OR BOARDING CONTRACTS. EXCEPTIONS TO THE ABOVE MAY BE MADE BY THE ADMINISTRATIVE COMMITTEE IN ACCORDANCE WITH THE PROVISIONS OF THE ADMINISTRATIVE CODE OF THE ORGANIZATION, SUBJECT TO THE APPROVAL OF THE BOARD OF DIRECTORS. MEMBERSHIP SHALL NOT BE RESTRICTED BECAUSE OF RACE, COLOR, ETHNICITY, RELIGION, GENDER IDENTITY, NATIONAL ORIGIN, POLITICAL ADHERENCE, OR SEXUAL IDENTITY. THE FORM 990 INSTRUCTIONS ALSO DEFINE A "MEMBER" (WITHOUT REGARD TO WHAT A PERSON, INCLUDING A CORPORATION OR OTHER LEGAL ENTITY, IS CALLED IN THE GOVERNING DOCUMENTS) AS ANY PERSON WHO HAS THE POWER TO ELECT MEMBERS OF THE GOVERNING BODY. AS SUCH, THE PRESIDENT OF THE BSC ALUMNI ASSOCIATION AND THE BSC EMPLOYEE ASSOCIATION ARE ALSO CONSIDERED MEMBERS. LASTLY, THE FORM 990 INSTRUCTIONS FURTHER DEFINE A "MEMBER" (WITHOUT REGARD TO WHAT A PERSON, INCLUDING A CORPORATION OR OTHER LEGAL ENTITY, IS CALLED IN THE GOVERNING DOCUMENTS) AS ANY PERSON WHO CAN RECEIVE A SHARE OF THE ORGANIZATION'S NET ASSETS UPON DISSOLUTION. AS SUCH, THE UNIVERSITY OF CALIFORNIA IS ALSO CONSIDERED A "MEMBER". FORM 990, PART VI, SECTION A, LINE 7A THE PRESIDENT OF THE BSC ALUMNI ASSOCIATION, A SEPARATE 501(C)(3) ORGANIZATION, MAY APPOINT ONE MEMBER OF THE ALUMNI ASSOCIATION AS A DIRECTOR. THE TERM OF OFFICE OF THE ALUMNI ASSOCIATION MEMBER SHALL BE AT THE PLEASURE OF THE PRESIDENT OF THE BSC ALUMNI ASSOCIATION. IN ADDITION, THE BSC EMPLOYEE ASSOCIATION CONTRACT INCLUDES A PROVISION FOR THE DESIGNATION OF A DIRECTOR FROM AMONG MEMBERS OF THE EMPLOYEE ASSOCIATION. THE REMAINING MEMBERS OF THE BOARD OF DIRECTORS SHALL BE ELECTED BY THE MEMBERS OF THE SEVERAL UNITS. EACH UNIT SHALL ELECT ONE DIRECTOR FOR EACH SEVENTY MEMBERS, OR FRACTION THEREOF, IN THE RESIDENTIAL CAPACITY OF THE UNIT. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT TAX ACCOUNTANT IN CONJUNCTION WITH THE ORGANIZATION'S FINANCE AND ACCOUNTING STAFF. A DRAFT FORM 990 IS THEN REVIEWED BY MANAGEMENT OF THE ORGANIZATION, AS WELL AS THE FINANCE AND ACCOUNTING STAFF; ADJUSTMENTS ARE MADE AS NECESSARY. THE FORM 990 IS THEN ELECTRONICALLY FILED WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 WAS REVIEWED WITH THE CAPITAL & FINANCE COMMITTEE OF THE BOARD OF DIRECTORS AND MADE AVAILABLE TO ALL MEMBERS OF THE GOVERNING BODY AFTER FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY WHICH REQUIRES IT TO MONITOR CONFLICTS OF INTEREST THROUGH A WRITTEN DISCLOSURE QUESTIONNAIRE IMPLEMENTED ANNUALLY IN THE SPRING. THE QUESTIONNAIRE IS COMPLETED BY ALL EMPLOYEES, ALL EXECUTIVE OFFICERS, AND ALL BOARD MEMBERS. THE ORGANIZATION ALSO TRAINS STAFF, BOARD MEMBERS, AND EXECUTIVES ON THE DUTY TO DISCLOSE CONFLICTS OF INTEREST AS THEY ARISE THROUGHOUT THE YEAR. THE EXECUTIVE DIRECTOR EXAMINES ANY DISCLOSURES BY STAFF OF POTENTIAL CONFLICTS OF INTEREST TO DETERMINE WHETHER AN ACTUAL CONFLICT EXISTS. THE CABINET EXAMINES ANY DISCLOSURES BY THE BOARD MEMBERS, EXECUTIVES, AND SENIOR MANAGEMENT. THE AUDIT COMMITTEE IS CHARGED WITH MAKING DECISIONS CONCERNING RESOLUTION OF CONFLICTS OF INTEREST INVOLVING DIRECTORS, EXECUTIVE OFFICERS, AND SENIOR MANAGEMENT. THE PRESIDENT IS RESPONSIBLE FOR REVIEWING DISCLOSURES AND RESOLVING CONFLICTS WITH REGARD TO THE CHAIR OF THE AUDIT COMMITTEE. IN ALL CASES, CONFLICTED INDIVIDUALS ARE NOT ALLOWED TO PARTICIPATE IN THE DECISION REGARDING A POTENTIAL TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 BSC ANNUALLY COMPARES SALARIES AND BENEFITS, INCLUDING THAT OF THE EXECUTIVE DIRECTOR AND OTHER OFFICERS/KEY EMPLOYEES, TO THOSE OF COMPARABLE NONPROFITS IN THE BAY AREA UTILIZING FAIR PAY, A NONPROFIT WAGE AND BENEFITS SURVEY. IN 2016, BSC ALSO ENGAGED A PROFESSIONAL COMPENSATION CONSULTANT TO REVIEW AND ADVISE THE BOARD ON ALL PROFESSIONAL STAFF SALARIES/WAGES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC VIA THE ORGANIZATION'S WEBSITE (WWW.BSC.COOP) AND BY REQUEST.