2022-11-14T12:12:33-06:00 2021-12-31 873707167 CBIZ MARKS PANETH LLC 685 THIRD AVENUE NEW YORK NY 10017 990 2021-01-01 237173492 A BETTER CHANCE INC ABET 6463461310 253 W 35TH STREET 15TH FLOOR NEW YORK NY 10001 FRANCISCO TEZEN PRESIDENT & CEO 6463461310 2022-11-12 1 FRANCISCO TEZEN 999009999 MAGDALENA M CZERNIAWSKI P00535099 2125038800 2022-11-12 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z FRANCISCO TEZEN 253 W 35TH STREET 15TH FLOOR NEW YORK NY 10001 6340111 0 X WWW.ABETTERCHANCE.ORG X 1971 MA A NATIONAL, EDUCATIONAL EQUITY ORG THAT HELPS YOUNG PEOPLE OF COLOR PREPARE TO BE LEADERS. 20 19 29 200 0 0 4261300 4943904 237670 249100 718046 1114933 3343 32174 5220359 6340111 21688 47864 0 0 2398830 2272249 0 0 809887 1565303 1767545 3985821 4087658 1234538 2252453 14248883 16472167 3327942 3110878 10920941 13361289 TO INCREASE THE NUMBER OF WELL-EDUCATED YOUNG PEOPLE OF COLOR CAPABLE OF ASSUMING RESPONSIBILITY AND LEADERSHIP ROLES IN AMERICAN SOCIETY. 0 0 2751438 47864 249100 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. IN 2021, THE ORGANIZATION SAW NEARLY 100% OF SCHOLARS ENROLLING IN COLLEGE & OVER 85% OF ALUMNI GOING ON TO EARN COLLEGE DEGREES. OUR RECORD OF SUCCESS IS EVIDENT IN THE OVER 18,000 ALUMNI WHO HAVE BECOME GREAT INNOVATORS, THINKERS AND LEADERS IN THEIR RESPECTIVE FIELDS. 2751438 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 22 0 1 29 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 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 DIRECTOR 2.00 X 0 0 0 ALLISON LAWRENCE DIRECTOR 2.00 X 0 0 0 DARRELL FORD DIRECTOR (OUTGOING) 2.00 X 0 0 0 EKENE EZULIKE DIRECTOR 2.00 X 0 0 0 FRANCISCO TEZEN PRESIDENT & CEO 37.50 X X 277513 0 24010 GENNELL JEFFERSON VICE-CHAIR 2.00 X X 0 0 0 GERALD KEEFE DIRECTOR 2.00 X 0 0 0 GREGORY T DURANT VICE-CHAIR (OUTGOING) 2.00 X X 0 0 0 KEITH EVANS DIRECTOR 2.00 X 0 0 0 KURT VAN WAGENEN DIRECTOR 2.00 X 0 0 0 MALY BERNSTEIN DIRECTOR (OUTGOING) 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 SHEILA MARMON VICE-CHAIR 2.00 X 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 108833 0 28525 BENJAMIN BINGMAN-TENNANT DIR. OF PROGRAMS 37.50 X 165331 0 13558 551677 0 66093 3 0 1 0 0 4943904 92416 4943904 SCHOOL MEMBERSHIP DUES 611600 241600 241600 REGISTRATION FEES 900099 7500 7500 249100 219368 219368 895565 0 895565 895565 895565 MISCELLANEOUS 900099 32174 32174 32174 6340111 249100 0 1147107 47864 47864 438882 298440 26333 114109 1448680 1057278 162272 229130 43113 32882 4665 5566 185112 140493 19627 24992 156462 116526 15295 24641 14984 14984 79022 51747 17064 10211 370480 132535 31468 206477 44845 10868 11523 22454 374040 299546 24611 49883 39137 28824 8805 1508 47533 32827 8193 6513 9479 7378 827 1274 41251 31197 3916 6138 EQUIPMENT PURCHASES 254939 188310 24659 41970 SUBSCRIPTION AND DUES 167273 124949 15964 26360 BAD DEBT 100069 100069 TESTING & PROGRAMMING 96367 96367 128126 53407 36058 38661 4087658 2751438 526333 809887 300 19 1888652 2533887 1089684 1999771 31600 35325 81527 149183 172876 91868 4905 81008 10009231 10458842 1142984 1214132 14248883 16472167 208517 196956 178004 326881 2906650 2524087 17194 17577 62954 3327942 3110878 X -2368248 -1624111 13289189 14985400 10920941 13361289 14248883 16472167 X 2252453 113012 74883 X X 0 1 X 1 0 X 2831084 3083432 2508425 4261300 4943904 17628145 2831084 3083432 2508425 4261300 4943904 17628145 1861691 15766454 254412 250151 248072 233520 219368 1205523 91214 45500 33250 32174 202138 19035806 1547856 0.82830 0.81100 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECIAL EVENT CONTRIBUTIONS - 2017 AMOUNT: $ 91,214. 2018 AMOUNT: $ 45,500. 2019 AMOUNT: $ 33,250. MISCELLANEOUS INCOME - 2021 AMOUNT: $ 32,174. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10391790 1228115 784028 10835877 10208647 933406 686520 63743 10391790 9258528 1729049 734100 44830 10208647 10338413 -661540 418345 9258528 11541201 1297212 2500000 10338413 0.01000 0.84000 0.15000 1 0 88089 7213 80876 84787 84655 132 81008 BENEFICIAL INTEREST IN PERPETUAL TRUST 1214132 1214132 DEFERRED RENT 62954 62954 X 7538976 113012 1164875 1277887 6261089 79022 79022 6340111 5173511 1164875 1164875 4008636 79022 79022 4087658 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, 2021 AND 2020, IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. 1 SCHOLARSHIP AWARDS AND RESIDENTIAL ASSISTANCE 60 47864 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 0 0 0 0 0 0 0 1 0 FRANCISCO TEZEN PRESIDENT & CEO 252513 0 25000 0 0 0 8475 0 15535 0 301523 0 0 0 BENJAMIN BINGMAN-TENNANT DIR. OF PROGRAMS 157331 0 8000 0 0 0 5014 0 8544 0 178889 0 0 0 PART I, LINE 7 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 TEST VOUCHERS 2 89416 FMV X OTHER 1 3000 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 74,883. 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.