2021-05-14T14:34:06-05:00 2020-06-30 420714325 RSM US LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2019-07-01 270989006 URBAN TEACHER CENTER INC URBA 4106626600 1800 WASHINGTON BLVD NO 411 BALTIMORE MD 21230 SISILIA MO CONTROLLER & TREASURER 4106626600 2021-05-14 1 JULIA FLANNERY CPA P00928918 4102469301 2021-05-14 2019 2022-09-23 18:48:47Z URBAN TEACHERS PETER SHULMAN 1800 WASHINGTON BLVD NO 411 BALTIMORE MD 21230 24084865 0 X WWW.URBANTEACHERS.ORG X 2009 MD TO PREPARE HIGHLY EFFECTIVE TEACHERS WHO SIGNIFICANTLY ACCELERATE STUDENT ACHIEVEMENT IN THE NATION'S HIGHEST NEED SCHOOLS. 9 9 181 10 0 0 8522125 9388050 14289312 14696815 0 0 0 0 22811437 24084865 0 0 0 0 6988839 8262495 0 0 986797 16018357 17209175 23007196 25471670 -195759 -1386805 6418288 4670361 1943853 1582731 4474435 3087630 URBAN TEACHER CENTER'S MISSION IS TO PREPARE HIGHLY EFFECTIVE TEACHERS WHO SIGNIFICANTLY ACCELERATE STUDENT ACHIEVEMENT IN THE NATIONS' HIGHEST NEED SCHOOLS. 0 0 17292840 11543889 URBAN TEACHERS PREPARED 917 PARTICIPANTS IN THE FOLLOWING FOUR COHORTS; RESIDENTS - 301, YEAR 1 FELLOWS - 275, YEAR 2 FELLOWS -202, AND YEAR 3 FELLOWS - 139. URBAN TEACHERS SUCCESSFULLY IMPLEMENTED ITS PROGRAM IN 142 PUBLIC AND CHARTER SCHOOLS THROUGHOUT BALTIMORE, DC, AND DALLAS FORT WORTH. 1858482 1240635 DESIGNED, DEVELOPED, AND EVALUATED THE CURRICULUM AND PROFESSIONAL DEVELOPMENT FOR THE ORGANIZATION'S TEACHER PREPARATION PROGRAM. THE CURRICULUM IS USED TO DELIVER A MASTER OF SCIENCE IN EDUCATION TO EACH PROGRAM PARTICIPANT. THE OVERALL ACCOMPANYING SEQUENCE OF COACHING, EVALUATION, AND INDEPENDENT OBSERVATIONS, ALONG WITH QUARTERLY REVIEWS, HAS PROVEN SUCCESSFUL IN HONING THE QUALITY OF URBAN TEACHERS' PREPARATION PROGRAM. 2864628 1912291 RECRUITED 301 NEW RESIDENTS FOR COHORT YEAR 2019. EFFORTS TO INCREASE DIVERSITY PROVED SUCCESSFUL AS WELL, WITH 54% OF COHORT 2019 COMPRISED OF PEOPLE OF COLOR. 22015950 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 522 0 1 181 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X SISILIA MO 4106626600 1800 WASHINGTON BLVD NO 411 BALTIMORE MD 21230 PETER SHULMAN PRESIDENT & CEO 40.00 X 260051 0 22759 FRANK BONANNO TREASURER & CFO 40.00 X 215437 0 9138 ANNETTE O'BOYCE CHIEF ACADEMIC OFFICER(THRU 11/30/19) 40.00 X 214825 0 14579 ELINOR TAPPE CHIEF DEV. OFFICER (THRU 5/1/20) 40.00 X 214744 0 6864 JACQUELINE GREER CHIEF PROGRAM OFFICER 40.00 X 189586 0 6876 CHARELLE JAMES BALT. EXECUTIVE DIRECTOR 40.00 X 172033 0 11373 EMILY GARCIA NOLEN EXEC. DIR., DALLAS/FT. WORTH 40.00 X 158588 0 15983 KIRSTEN MACKLER EXECUTIVE DIRECTOR OF P&E 40.00 X 144513 0 11564 ROXANNE WHITE EXEC. DIR. OF CURRICULUM AND PD 40.00 X 144513 0 11532 KERRY SWARR CHIEF GROWTH OFFICER (THRU 5/1/20) 40.00 X 141641 0 22687 CANDACE SMITH EXECUTIVE DIRECTOR, DC 40.00 X 120446 0 13737 SEKOU BIDDLE TRUSTEE 1.00 X 0 0 0 GARY GEISEL TRUSTEE 1.00 X 0 0 0 DIANNE HOUGHTON TRUSTEE 1.00 X 0 0 0 JAMES PICKMAN TRUSTEE 1.00 X 0 0 0 VINCE TALBERT TRUSTEE 1.00 X 0 0 0 ADRIENNE WILLIAMS TRUSTEE 1.00 X 0 0 0 TERRI FREEMAN TRUSTEE 1.00 X 0 0 0 SHAYNE SPALTEN TRUSTEE 1.00 X 0 0 0 HEIDI RAMIREZ TRUSTEE 1.00 X 0 0 0 1976377 0 147092 16 0 1 0 BBMG 20 JAY STREET BROOKLYN NY 11201 CONSULTING CONTRACTUAL SERVICES 452421 GRAYSIDE MEDIA GROUP 6213 14TH STREET NW WASHINGTON DC 20011 CONSULTING CONTRACTUAL SERVICES 155390 CORE EDUCATION LLC 7411 SPROUT HILL ROAD SYKESVILLE MD 21784 CONSULTING CONTRACTUAL SERVICES 122106 EDPLUS CONSULTING 7035 BLAIR ROAD NW APT 313 WASHINGTON DC 20012 CONSULTING CONTRACTUAL SERVICES 120750 4 2092600 7295450 9388050 TEACHER TRAINING PROGR 611710 10409792 10409792 TUITION 611110 4062120 4062120 SUMMER PROGRAM 611710 224903 224903 14696815 24084865 14696815 0 0 1289987 938257 224603 127127 5840854 4241901 1014142 584811 127467 94818 23126 9523 316565 235481 57433 23651 687622 511495 124754 51373 47509 47509 41488 41488 1090173 879213 86804 124156 332124 289785 7441 34898 424431 63715 355185 5531 1007123 964832 34167 8124 280724 244535 28376 7813 171762 171762 90042 65485 18710 5847 FACULTY AND ASSESSMENT 6360427 6360427 PARTICIPANT EXPENSES 4000480 4000480 UNIVERSITY FEES 2602449 2602449 OTHER COURSEWORK MATERI 452292 394082 57103 1107 308151 128995 176320 2836 25471670 22015950 2468923 986797 553581 845693 878 887 4772681 3083039 483806 244098 149626 85392 160413 135123 575935 299806 297303 276129 6418288 4670361 946842 1156655 997011 0 426076 1943853 1582731 X 868447 831781 3605988 2255849 4474435 3087630 6418288 4670361 -1386805 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 575935 299806 276129 276129 PAYCHECK PROTECTION PROGRAM LOAN 426076 426076 X 24084865 0 24084865 0 24084865 25471670 0 25471670 0 25471670 PART X, LINE 2: URBAN TEACHERS 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 POLICY, URBAN TEACHERS MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WOULD BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS EVALUATED URBAN TEACHERS' TAX POSITIONS AND HAS CONCLUDED THAT URBAN TEACHERS HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. URBAN TEACHERS IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE JUNE 30, 2017. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION'S RACIALLY NONDISCRIMINATORY POLICY IS PUBLISHED IN THE WASHINGTON POST ANNUALLY. SCHEDULE E, LINE 6A: ON APRIL 16, 2020, URBAN TEACHERS RECEIVED A LOAN THROUGH A BANK FROM THE SMALL BUSINESS ASSOCIATION (SBA) FOR THE PAYCHECK PROTECTION PROGRAM IN THE AMOUNT OF $2,003,235. THE LOAN WAS SUBSEQUENTLY FUNDED ON APRIL 24, 2020. EITHER A PORTION OR ALL OF THE LOAN MAY BE FORGIVEN PROVIDED CERTAIN CONDITIONS ARE SUBSTANTIALLY MET DURING THE COVERED PERIOD. THE PAYCHECK PROTECTION PROGRAM ALLOWS URBAN TEACHERS TO SELECT ONE OF TWO COVERED PERIODS; AN 8 WEEK COVERED PERIOD OR A 24 WEEK COVERED PERIOD. THE CONDITIONS THAT MUST BE MET INCLUDE; A) THE FUNDS ARE USED FOR QUALIFYING EXPENSES; AND B) AND THE FULL-TIME EQUIVALENT (FTE) LEVEL AND RELATED PAYROLL COSTS LEVEL REQUIREMENTS ARE MET AS OUTLINED BY THE PAYCHECK PROTECTION PROGRAM. ANY AMOUNTS NOT FORGIVEN BY SBA WILL BE REPAID IN MONTHLY INSTALLMENTS INCLUDING 1% INTEREST. THE PAYMENT DEFERRAL PERIOD WAS EXTENDED BY THE SBA TO THE DATE THAT THE SBA REMITS THE BORROWER'S LOAN FORGIVENESS AMOUNT TO THE BANK. THE EIGHT WEEK COVERED PERIOD ENDED AS OF JUNE 18, 2020. URBAN TEACHERS MAINTAINED ITS FTE LEVELS AND RELATED PAYROLL COSTS LEVEL AND SPENT APPROXIMATELY $1,600,000 ON QUALIFYING EXPENSES DURING THIS PERIOD. URBAN TEACHERS ELECTED TO FOLLOW FASB ASC 958-605 AND TREAT THE LOAN AS A CONDITIONAL GRANT. BASED ON THE ACCOUNTING GUIDANCE AND THE FACT URBAN TEACHERS MET THE CONDITIONS FOR FORGIVENESS DURING THE 8 WEEK PERIOD, APPROXIMATELY $1,600,000 WAS RECOGNIZED IN GRANT REVENUE FOR THE YEAR ENDED JUNE 30, 2020. THE REMAINING LOAN AMOUNT OF $426,076 IS RECORDED AS A REFUNDABLE ADVANCE AS OF JUNE 30, 2020. SUBSEQUENT TO THE YEAR-END, URBAN TEACHERS MET THE CONDITIONS FOR THE FULL LOAN AMOUNT OF $2,003,235. URBAN TEACHERS SUBMITTED THE LOAN FORGIVENESS APPLICATION TO THE BANK, AND THE BANK HAS REVIEWED AND APPROVED THE LOAN FORGIVENESS REQUEST OF $2,003,235. THE LOAN FORGIVENESS APPLICATION HAS BEEN SUBMITTED TO THE SBA FOR REVIEW AND FINAL APPROVAL. THE LOAN FORGIVENESS REQUEST IS SUBJECT TO REVIEW AND APPROVAL BY THE SBA. FURTHERMORE, AS THE LOAN AMOUNT IS ABOVE $2,000,000, IT IS ALSO SUBJECT TO AN AUDIT OF THE LOAN BY THE SBA. MANAGEMENT BELIEVES THAT URBAN TEACHERS MET ALL THE LOAN FORGIVENESS REQUIREMENTS, AND EXPECTS THAT THE FULL LOAN AMOUNT SHOULD BE FORGIVEN. X X X 1 0 0 0 0 0 0 0 0 PETER SHULMAN PRESIDENT & CEO 260051 0 0 0 0 0 6773 0 15986 0 282810 0 0 0 FRANK BONANNO TREASURER & CFO 215437 0 0 0 0 0 8617 0 521 0 224575 0 0 0 ANNETTE O'BOYCE CHIEF ACADEMIC OFFICER(THRU 11/30/19 202219 0 0 0 12606 0 8139 0 6440 0 229404 0 0 0 ELINOR TAPPE CHIEF DEV. OFFICER (THRU 5/1/20) 214744 0 0 0 0 0 0 0 6864 0 221608 0 0 0 JACQUELINE GREER CHIEF PROGRAM OFFICER 189586 0 0 0 0 0 0 0 6876 0 196462 0 0 0 CHARELLE JAMES BALT. EXECUTIVE DIRECTOR 172033 0 0 0 0 0 75 0 11298 0 183406 0 0 0 EMILY GARCIA NOLEN EXEC. DIR., DALLAS/FT. WORTH 158588 0 0 0 0 0 5588 0 10395 0 174571 0 0 0 KIRSTEN MACKLER EXECUTIVE DIRECTOR OF P&E 144513 0 0 0 0 0 5834 0 5730 0 156077 0 0 0 ROXANNE WHITE EXEC. DIR. OF CURRICULUM AND PD 144513 0 0 0 0 0 5434 0 6098 0 156045 0 0 0 KERRY SWARR CHIEF GROWTH OFFICER (THRU 5/1/20) 141641 0 0 0 0 0 5907 0 16780 0 164328 0 0 0 PART I, LINE 4A ANNETTE O'BOYCE RECEIVED A SEVERANCE PAYMENT DURING THE CALENDAR YEAR. THE PAYMENT IS INCLUDED IN PART VII, COLUMN D AND SCHEDULE J, PART II, COLUMN BIII. THE TERMS AND CONDITIONS OF THE CONFIDENTIAL SEVERANCE AGREEMENT ARE AVAILABLE TO THE INTERNAL REVENUE SERVICE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE DRAFT 990 IS DISTRIBUTED TO THE BOARD MEMBERS FOR REVIEW BEFORE THE RETURN IS SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS, OFFICERS, AND MEMBERS OF A COMMITTEE WITH BOARD DELEGATED POWERS MUST FOLLOW THE CONFLICT OF INTEREST POLICY. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE OR SHE SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. THE CHAIRPERSON OF THE BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE CORPORATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. ALL EMPLOYEES MUST COMPLETE A CONFLICT OF INTEREST STATEMENT UPON HIRE AND UPDATE THE STATEMENT AT LEAST ONCE A YEAR. EMPLOYEES MUST IMMEDIATELY NOTIFY THE URBAN TEACHERS CHIEF EXECUTIVE OFFICER OF ANY MATTERS THAT MAY RESULT IN REAL OR APPARENT CONFLICTS OF INTEREST BY SUBMITTING A CONFLICT OF INTEREST STATEMENT TO THEIR SUPERVISOR. FORM 990, PART VI, SECTION B, LINE 15 WHEN THE EXECUTIVE DIRECTOR WAS INITIALLY HIRED, THE ORGANIZATION PREPARED A COMPARISON OF NON-PROFIT EXECUTIVE DIRECTOR COMPENSATION RATES REGIONALLY AND AT EDUCATION NON-PROFITS NATIONALLY. ADDITIONALLY, THE COMPENSATION WAS REVIEWED BY THE ORGANIZATION'S INITIAL VENTURE FUNDERS BEFORE THEY MADE AN INVESTMENT IN UTC. ON AN ANNUAL BASIS THE BOARD REVIEWS AND DOCUMENTS THE EXECUTIVE DIRECTOR'S PERFORMANCE AND MAKES ADJUSTMENTS TO THE OFFICER'S COMPENSATION FOR BOTH PERFORMANCE AND COST OF LIVING REASONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST, FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).