2020-12-03T15:39:45-06:00 2020-06-30 951777440 GREEN HASSON & JANKS LLP 10990 WILSHIRE BLVD 16TH FLOOR LOS ANGELES CA 900243929 990 2019-07-01 841582086 POINT FOUNDATION POIN 3239331234 6230 WILSHIRE BLVD NO 1606 LOS ANGELES CA 90048 JORGE VALENCIA EXECUTIVE DIRECTOR & CEO 3239331234 2020-11-23 1 LIZBETH G NEVAREZ P01399868 3108731600 2019 2022-09-23 18:48:47Z JORGE VALENCIA 6230 WILSHIRE BLVD NO 1606 LOS ANGELES CA 90048 6943963 0 X WWW.POINTFOUNDATION.ORG X 2001 CO TO GRANT SCHOLARSHIPS TO LESBIAN, GAY, BISEXUAL AND TRANSGENDER (LGBT) STUDENTS OF MERIT. 29 29 22 320 0 0 3590366 4323699 0 0 350640 399987 -442920 -325588 3498086 4398098 1208955 787038 0 0 1786925 1716318 69000 69000 478666 1153926 1013205 4218806 3585561 -720720 812537 9223627 10217046 170907 643952 9052720 9573094 X POINT FOUNDATION EMPOWERS PROMISING LGBTQ STUDENTS TO ACHIEVE THEIR FULL ACADEMIC AND LEADERSHIP POTENTIAL - DESPITE THE OBSTACLES OFTEN PUT BEFORE THEM - TO MAKE A SIGNIFICANT IMPACT ON SOCIETY. 0 0 1523333 640584 0 SCHOLARSHIP & SCHOLAR SUPPORT: AS OF JUNE 2020, POINT FOUNDATION (POINT) HAS AWARDED 540 SCHOLARSHIPS AND HAVE INVESTED OVER $40 MILLION IN OUR LGBTQ SCHOLARS. POINT FOUNDATION CURRENTLY AWARDS TWO TYPES OF SCHOLARSHIPS: COMMUNITY COLLEGE AND THE TRADITIONAL POINT SCHOLARSHIP. THE COMMUNITY COLLEGE SCHOLARSHIP IS GEARED TOWARD ENSURING LGBTQ COMMUNITY COLLEGE STUDENTS CAN TRANSFER TO FOUR-YEAR INSTITUTIONS. THE TRADITIONAL POINT SCHOLARSHIP IS DESIGNED TO HELP LGBTQ SCHOLARS CURRENTLY ENROLLED IN OR ENROLLING IN AN UNDERGRADUATE OR GRADUATE PROGRAM COMPLETE THEIR DEGREE. BOTH SCHOLARSHIP PROGRAMS OFFER FINANCIAL ASSISTANCE, ONE-ON-ONE MENTORING (COACHING) AND COMPREHENSIVE LEADERSHIP TRAINING. BY ENSURING THESE STUDENTS OBTAIN A SOLID EDUCATIONAL FOUNDATION, POINT FOUNDATION IS BUILDING A GENERATION OF LEADERS, COMMITTED BOTH TO PERSONAL ACHIEVEMENT AND TO INCREASING ACCEPTANCE AND UNDERSTANDING ACROSS SOCIETY.DURING THE 2019-2020 ACADEMIC YEAR, POINT FOUNDATION SUPPORTED 60 POINT SCHOLARS AND 25 COMMUNITY COLLEGE SCHOLARSHIP RECIPIENTS. AS A CHAMPION FOR EQUAL ACCESS TO HIGHER EDUCATION, POINT FOUNDATION IS PROUD THAT MANY POINT SCHOLARS ARE FROM GROUPS TRADITIONALLY UNDERREPRESENTED ON COLLEGE CAMPUSES. OF THE 60 MEMBERS OF THE 2019 POINT SCHOLAR CLASS: 67% IDENTIFY AS A RACIAL OR ETHNIC GROUP OTHER THAN WHITE; 42% IDENTIFY AS TRANSGENDER, GENDER-NONCONFORMING, OR INTERSEX; AND 40% ARE THE FIRST IN THEIR FAMILIES TO GO TO COLLEGE. OF THE 25 MEMBERS OF THE 2019 COMMUNITY COLLEGE SCHOLARSHIP CLASS: 67% IDENTIFY AS A RACIAL OR ETHNIC GROUP OTHER THAN WHITE; 50% IDENTIFY AS TRANSGENDER, GENDER-NONCONFORMING, OR INTERSEX; AND 50% ARE THE FIRST IN THEIR FAMILIES TO GO TO COLLEGE.EACH YEAR, WITH THE GUIDANCE OF THEIR POINT FOUNDATION SELECTED MENTOR, POINT SCHOLARS ARE REQUIRED TO COMPLETE A COMMUNITY SERVICE PROJECT (CSP) THAT WILL POSITIVELY IMPACT THE LGBTQ COMMUNITY. ONE SCHOLARDEDICATED HER COMMUNITY SERVICE PROJECT TO LOBBYING HER STATE GOVERNMENT TO INCLUDE LGBTQ EDUCATION FOR ALL CURRENT AND POTENTIAL CAREGIVERS IN THE STATE FOSTER CARE SYSTEM. HAVING GROWN UP IN FOSTER CARE, THIS SCHOLAR TURNED THE ADVERSITY SHE FACED INTO SUBJECT MATTER EXPERTISE AND MET ONE ON ONE WITH STATE LAWMAKERS TO DISCUSS THE IMPORTANCE OF MAKING FOSTER HOMES SAFE PLACES FOR LGBTQ YOUTH. THANKS TO HER WORK, THE STATE WILL NOW MANDATE COURSEWORK IN LGBTQ COMPETENCY FOR ALL FOSTER CARE GIVERS.POINT SCHOLARS ALSO MADE SIGNIFICANT CONTRIBUTIONS TO THEIR COMMUNITIES THROUGH INNOVATIVE PAID INTERNSHIPS AT NONPROFIT ORGANIZATIONS OF THEIR CHOICE. THE IMPACT OF THIS WORK WAS FELT IN COMMUNITIES THROUGHOUT THE COUNTRY. IN NEW YORK, ONE SCHOLAR WORKED WITH THE YOUTH LEADERSHIP COUNCIL WHERE HER WORK FOCUSED ON HELPING UNDOCUMENTED YOUTH DEVELOP LEADERSHIP SKILLS, CREATE PATHWAYS FOR MORE SECURE FUTURES, AND ADVOCATE FOR REFORMS TO IMMIGRATION LAW AND IMMIGRANT DETENTION. IN MINNESOTA, ANOTHER SCHOLAR HELPED THE FAMILY TREE CLINIC TO DEVELOP LGBTQ INCLUSIVE MATERIALS ON MENTAL AND SEXUAL HEALTH. THIS WORK ALLOWED THE CLINIC TO DEVELOP A FRAMEWORK FOR DELIVERING HEALTHCARE THAT TRANSCENDS LGBTQ COMPETENCY AND INSTEAD IS LGBTQ AFFIRMING, IMPROVING OUTCOMES AND EXPERIENCES FOR LGBTQ PEOPLE IN THE MID-WEST. POINT ALSO SAW CONTINUED SUCCESS WITH THE COMMUNITY COLLEGE PROGRAM. RECOGNIZING THAT MANY COMMUNITY COLLEGES LACK RESOURCES SPECIFICALLY GEARED FOR THEIR LGBTQ STUDENTS, POINT'S SUPPORT HAS PROVEN CRITICAL TO OUR STUDENT'S SUCCESS IN COMPLETING THEIR TIME AT COMMUNITY COLLEGE AND TRANSFERRING TO A 4-YEAR COLLEGE OR UNIVERSITY. OUR EXPANDED COMMUNITY COLLEGE TRANSFER SYMPOSIUM BROUGHT STUDENTS TO THE UNIVERSITY OF SOUTHERN CALIFORNIA WHERE POINT HOSTED A 3 DAY SYMPOSIUM THAT INCLUDED A MENTAL HEALTH SESSION, A SEXUAL HEALTH SESSION, AS WELL AS A PANEL ON QUEER ACTIVISM THAT WASLEDBY OUR ESTEEMED POINT SCHOLARS.STUDENTS ALSO LEARNED HOW TO PREPARE TO FINANCE THEIR HIGHER EDUCATION IN A PRESENTATION BY USC'S DEAN OF FINANCIAL AID AND LEARNED TIPS FOR TRANSFERRING SUCCESSFULLY FROM THE DEAN OF ADMISSIONS AT SWARTHMORE COLLEGE. OF THE 25 COMMUNITY COLLEGE PARTICIPANTS, 81% ARE CONFIRMED TO HAVE COMPLETED THEIR PROGRAMS AND TWO OF OUR 2019-20 COMMUNITY COLLEGE SCHOLARSHIP RECIPIENTS ARE NOW POINT SCHOLARS. 842679 146454 0 LEADERSHIP CONFERENCES & TRAINING: POINT FOUNDATION IS COMMITTED TO TRAINING OUR NEXT GENERATION LEADERS AND PROVIDES ITS SCHOLARS WITH A VARIETY OF LEADERSHIP ACTIVITIES AND EVENTS THROUGHOUT THE YEAR. DESPITE THE IMPACT OF THE COVID 19 PANDEMIC PREVENTING STUDENTS FROM BEING ABLE TO GATHER IN PERSON, POINT CONTINUED ITS LEADERSHIP DEVELOPMENT WORK BY HOSTING AN IN PERSON NEW SCHOLAR ORIENTATION, A VIRTUAL LEADERSHIP EDUCATION AND AFFINITIES DEVELOPMENT (LEAD) CONSORTIUM, A VIRTUAL REGIONAL LEADERSHIP FORUM, AND A COMMUNITY COLLEGE TRANSFER SYMPOSIUM FOR OUR COMMUNITY COLLEGE SCHOLARSHIP RECIPIENTS. IN AUGUST 2019 POINT HELD THE COMMUNITY COLLEGE TRANSFER SYMPOSIUM FOR OUR 25 CC SCHOLARSHIP RECIPIENTS. OVER THREE DAYS THE COMMUNITY COLLEGE STUDENTS ATTENDED TARGETED WORKSHOPS WHICH PROVIDED TRAINING ON: APPLYING TO 4-YEAR UNIVERSITIES, HOW TO ACCURATELY FILL OUT FINANCIAL AID PAPERWORK, EFFECTIVELY WRITING AN ADMISSIONS ESSAY, BEST PRACTICES FOR RESUME WRITING, AND DEVELOPING INTERVIEWING SKILLS.IN OCTOBER 2019, POINT WELCOMED ITS 16 NEW SCHOLARS TO LOS ANGELES FOR A NEW SCHOLAR ORIENTATION. DURING THIS TIME SCHOLARS ATTENDED A WORKSHOP ON HOW TO CREATE SUCCESSFUL COMMUNITY SERVICE PROJECTS. A POINT ALUM AND COLLEGE PROFESSOR ALSO LEAD THE GROUP IN A WORKSHOP ABOUT GETTING THE MOST OUT OF THEIR EXPERIENCE AS POINT SCHOLARS. THIS INCLUDED EVERYTHING FROM A HISTORY OF THE ORGANIZATION, TO ADVICE ON HOW TO TAKE ADVANTAGE OF THE INCREDIBLE COMMUNITY OF SUPPORT THAT POINT HAS CREATED SINCE ITS FOUNDING IN 2001. SCHOLARS WERE ALSO THEN HONORED GUESTS AT THE POINT HONORS LOS ANGELES GALA WHERE THEY HAD THE OPPORTUNITY TO MEET AND NETWORK WITH SOME OF POINT'S MOST ESTEEMED SUPPORTERS. AS THE WORLD GRAPPLED WITH THE COVID 19 PANDEMIC, POINT ADJUSTED BY CREATING A VIRTUAL SPACE WHERE OUR STUDENTS COULD COME TOGETHER FOR LEADERSHIP TRAINING AND DEVELOPMENT. WE CALL IT POINT FOUNDATION UNIVERSITY. IN JUNE, POINT BROUGHT 24 GRADUATING STUDENTS INTO THIS SPACE FOR A VIRTUAL LEADERSHIP EDUCATION AFFINITIES DEVELOPMENT (LEAD) SYMPOSIUM. POINT ALUMS HOSTED THE EVENT AND WELCOMED THE GRADUATING STUDENTS INTO THEIR NEW ROLE AS MEMBERS OF THE POINT ALUMNI COMMUNITY. TOPICS INCLUDED, SELF-CARE AND MANAGING EXPECTATIONS OF SUCCESS DURING A PANDEMIC AS WELL AS A PRESENTATION AND DISCUSSION ON FINDING EMPLOYMENT DURING A PANDEMIC. IT WAS CLEAR THAT WHILE WE COULD NOT BE TOGETHER IN PERSON, EVERYONE APPRECIATED THE CHANCE TO VISIT VIRTUALLY AND BE TOGETHER AGAIN AS A POINT COMMUNITY. ALSO, IN JUNE OF 2019 POINT BROUGHT ITS 54 NEW AND CONTINUING STUDENTS TOGETHER FOR A VIRTUAL REGIONAL LEADERSHIP FORUM. HOSTED ONLINE AT POINT FOUNDATION UNIVERSITY, POINT GAVE STUDENTS THE OPPORTUNITY TO EDUCATE ONE ANOTHER ON THE WAYS THEY WERE HELPING THEIR COMMUNITY AND DISCOVERING HOW TO BECOME MORE DYNAMIC LEADERS. PRESENTATIONS AT THE FORUM INCLUDED TOPICS SUCH AS PRESENTATION AND INTERVIEWING SKILLS, STRATEGIES FOR APPLYING TO MEDICAL SCHOOL, THE EXPERIENCE WITH, AND IMPACT OF, SUICIDE PREVENTION TRAININGS, AND SUCCESSFUL MODELS OF SELF-CARE. 337517 0 0 SCHOLAR SELECTIONS: WHILE CURRENT SCHOLARS WORKED THEIR WAY THROUGH THE ACADEMIC YEAR, POINT FOUNDATION WENT ABOUT THE BUSINESS OF SELECTING SCHOLARS FOR THE 2020/21 ACADEMIC YEAR. AS PART OF OUR DRIVE TO FURTHER DIVERSIFY FUTURE CLASSES OF POINT SCHOLARS, POINT CONTINUED WITH AN OUTREACH PLAN SPECIFICALLY TARGETING UNDERREPRESENTED GROUPS IN THE LGBTQ COMMUNITY (E.G., WOMEN; STUDENTS OF COLOR; TRANSGENDER AND GENDER NONCONFORMING STUDENTS; AND APPLICANTS WITH DISABILITIES). IN MARCH WE ENCOUNTERED A SIGNIFICANT CHALLENGE WITH COVID 19 AND RECOGNIZED THAT WE WOULD NOT BE ABLE TO HOLD OUR FINAL SELECTIONS IN PERSON. AGAIN, THE ORGANIZATION ADJUSTED, DEVELOPING A VIRTUAL MODEL OF SCHOLAR SELECTIONS THAT RELIED ON VIDEO PRESENTATIONS RATHER THAN INTERVIEWS. THE NEW PROCESS WAS A TREMENDOUS SUCCESS DESPITE THE QUICK WORK REQUIRED TO MAINTAIN THE INCREDIBLE LEVEL OF DETAIL AND THOUGHT POINT PUTS TOWARDS ITS SCHOLAR SELECTION PROCESS. IN ALL, NEARLY 2,200 COMPLETED APPLICATIONS WERE NARROWED TO A FINALIST POOL OF 29. IN APRIL 2019, 19 NEW SCHOLARS WERE SELECTED TO JOIN THE 2020-21 CLASS OF POINT SCHOLARS. THIS YEAR POINT ALSO SELECTED 44 OF THE REMAINING APPLICANTS WITH THE HIGHEST SCORES TO BE PART OF THE FIRST YEAR OF A NEW SMALL GRANT INITIATIVE. THIS INITIATIVE WILL AWARD A $1,000 SCHOLARSHIP AND LEADERSHIP DEVELOPMENT OPPORTUNITIES TO ALL SELECTED STUDENTS THROUGHOUT THE 2020/21 ACADEMIC YEAR. IN JUNE 2020, 25 COMMUNITY COLLEGE SCHOLARSHIP RECIPIENTS WERE SELECTED FROM NEARLY 200 APPLICANTS. AT THIS TIME, POINT ALSO WELCOMED 10 STUDENTS TO A NEW TWO-YEAR COMMUNITY COLLEGE PROGRAM. THESE STUDENTS WILL RECEIVE TWO YEARS OF SUPPORT FROM POINT FOUNDATION AND SUPPORTIVE COACHING THROUGH THEIR TIME OF TRANSFER, OR COMPLETION OF THEIR TWO-YEAR DEGREE. 2703529 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 19 0 1 22 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA AL AK AZ AR CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS NH NJ NM NY NC OH OK OR PA RI SC TN UT VA WA WV WI X X SCOTT ARNESON 3239331234 6230 WILSHIRE BLVD SUITE A PMB 890 LOS ANGELES CA 90048 JORGE VALENCIA EXECUTIVE DIRECTOR & CEO 70.00 X 232060 0 13857 SCOTT ARNESON CFO 50.00 X 142242 0 593 EDWARD T FARLEY DEPUTY EXECUTIVE DIRECTOR 50.00 X 141943 0 7664 HECTOR D GARZA DEVELOPMENT DIRECTOR - EAS 50.00 X 111259 0 8106 ADAM D CROWLEY DEVELOPMENT DIRECTOR - WES 50.00 X 109536 0 7857 ALAN GUNO CO-CHAIR 6.00 X X 0 0 0 JAMES WILLIAMS CO-CHAIR 6.00 X X 0 0 0 JEN WOHLNER CO-VICE CHAIR 6.00 X X 0 0 0 PETER LICHTENTHAL CO-VICE CHAIR 6.00 X X 0 0 0 ASHLAND JOHNSON SECRETARY 6.00 X 0 0 0 BRIAN DENT TREASURER 6.00 X X 0 0 0 AARON LEIFER BOARD MEMBER 3.00 X 0 0 0 ALEXIA WARD BOARD MEMBER (UNTIL 07/2019) 3.00 X 0 0 0 ANTHONY YU BOARD MEMBER 3.00 X 0 0 0 BEN HARMAN BOARD MEMBER 3.00 X 0 0 0 BEN KOZUB BOARD MEMBER 3.00 X 0 0 0 BRITTANY ELLENBERG BOARD MEMBER 3.00 X 0 0 0 CELINA GERBIC BOARD MEMBER 3.00 X 0 0 0 CLAUDIA CAINE CHAIR EMERITUS (UNTIL 06/2020) 3.00 X 0 0 0 DAN STIFFLER BOARD MEMBER (UNTIL 06/2020) 3.00 X 0 0 0 EDDIE SANTOS BOARD MEMBER 3.00 X 0 0 0 GLENN EVANS BOARD MEMBER 3.00 X 0 0 0 JAMES GARGAS BOARD MEMBER 3.00 X 0 0 0 JIM HOLMES BOARD MEMBER 3.00 X 0 0 0 JIM PATTON BOARD MEMBER 3.00 X 0 0 0 KELLY HORTON BOARD MEMBER 3.00 X 0 0 0 KEN THAXTON BOARD MEMBER 3.00 X 0 0 0 LOUIS GARY BOARD MEMBER (UNTIL 06/2020) 3.00 X 0 0 0 MARIO ACOSTA-VELEZ BOARD MEMBER 6.00 X 0 0 0 MATT BARBEY BOARD MEMBER 3.00 X 0 0 0 MICHAEL CIPRESSO BOARD MEMBER 3.00 X 0 0 0 NATHAN FRIEDMAN BOARD MEMBER 3.00 X 0 0 0 PAUL TESTA BOARD MEMBER 3.00 X 0 0 0 PETE SUBKOVIAK BOARD MEMBER (UNTIL 10/2019) 3.00 X 0 0 0 RYAN MILLER BOARD MEMBER (UNTIL 07/2019) 3.00 X 0 0 0 SALMAN AZHAR MD BOARD MEMBER (UNTIL 01/2020) 3.00 X 0 0 0 SARAH MADEY BOARD MEMBER 3.00 X 0 0 0 SEAN ROURKE BOARD MEMBER 3.00 X 0 0 0 SETH PERSILY BOARD MEMBER 3.00 X 0 0 0 SHARON BRACKETT BOARD MEMBER (UNTIL 06/2020) 3.00 X 0 0 0 STACEY SMITHERS BOARD MEMBER 3.00 X 0 0 0 TERRY LONGMORE BOARD MEMBER 3.00 X 0 0 0 737040 0 38077 5 0 1 0 0 625808 3697891 62543 4323699 315610 315610 2261522 2177145 84377 84377 84377 43132 625808 368720 -325588 -325588 4398098 0 0 74399 787038 787038 487655 328955 68857 89843 1026564 692111 145117 189336 84014 57650 11426 14938 118085 81029 16060 20996 611 611 39000 39000 69000 69000 16279 16279 25499 12025 13474 394786 369746 25040 39923 39923 94085 68870 12670 12545 104429 86507 6934 10988 13847 12547 654 646 5095 3729 686 680 21353 15631 2876 2846 PUBLIC AWARENESS/PROMO. 110211 92226 3513 14472 EVENTS EXPENSE 59996 29998 0 29998 RECRUITMENT 39280 0 39280 0 MEALS & FOOD 21215 21215 27596 25544 889 1163 3585561 2703529 403366 478666 287017 263161 933343 977666 1738858 1924848 67031 35624 349483 342765 8055 6718 6130234 6878465 59089 130564 9223627 10217046 170907 225904 150000 268048 170907 643952 X 2883744 3021485 6168976 6551609 9052720 9573094 9223627 10217046 X 812537 -225823 -66340 X X 0 1 X 1 0 X 4019511 5294605 3576268 3590366 4323699 20804449 4019511 5294605 3576268 3590366 4323699 20804449 2288750 18515699 202166 210342 271782 324220 315610 1324120 20044 20044 22148613 0.83600 0.78600 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3549267 1727 83899 85000 3549893 6334510 6911 189211 103433 2877932 3549267 6256043 9602 394524 325659 6334510 5742331 5063 591175 82526 6256043 5702219 64846 57578 109479 5742331 0.00000 0.67770 0.32230 0 0 349483 342765 6718 6718 X 4165466 -225823 75810 -66340 -216353 4381819 16279 16279 4398098 3645092 75810 75810 3569282 16279 16279 3585561 PART V, LINE 4: THE PRIMARY LONG-TERM FINANCIAL OBJECTIVE FOR POINT'S ENDOWMENT IS TO PRESERVE THE REAL (INFLATION-ADJUSTED) PURCHASING POWER OF ENDOWMENT ASSETS. BOARD-DESIGNATED FUNDS HAVE BEEN ESTABLISHED FOR: (1) A SCHOLARSHIP FUND WHOSE INCOME WILL BE USED TO ESTABLISH A RESERVE FOR FUNDING FUTURE SCHOLARSHIPS OR POSSIBLE MID-YEAR INCREASES IN SCHOLARSHIP AWARDS, AND (2) AN ADMINISTRATIVE RESERVE USED FOR COVERING POSSIBLE UNAVOIDABLE OPERATING DEFICITS. THE BOARD OF DIRECTORS (AFTER CONSIDERATION OF A RECOMMENDATION OF POINT'S FINANCE COMMITTEE) WILL GENERALLY CONSIDER A TARGET SPENDING POLICY EQUAL TO APPROXIMATELY 5% OF THE ENDOWMENT'S AVERAGE THREE-YEAR PORTFOLIO VALUE. DISTRIBUTIONS FROM THE ENDOWMENT ARE MADE AT THE DISCRETION OF POINT'S BOARD OF DIRECTORS, INCLUDING DECISIONS TO MAKE NO DISTRIBUTIONS FROM THE ENDOWMENT, IF APPROPRIATE. PART X, LINE 2: IN ACCORDANCE WITH THE FINANCIAL ACCOUNTING STANDARDS BOARD'S (FASB) ACCOUNTING STANDARDS CODIFICATION TOPIC 740, UNCERTAINTY IN INCOME TAXES, POINT RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. DURING THE YEAR ENDED JUNE 30, 2020, POINT PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AND DID NOT NOTE ANY MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR WHICH MIGHT HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON WRITE-OFF OF UNCOLLECTIBLE PLEDGES RECEIVABLE -66,340. X X X X X X 1 LAUTMAN MASKA NEILL & CO 1730 RHODE ISLAND AVE NW WASHINGTON DC 20036 DIRECT MAIL CAMPAIGN 0 561875 69000 492875 561875 69000 492875 AL AK AZ AR CA CO CT DE FL GA HI ID IA KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY KS IN IL LA POINT HONORS 365537 326981 38556 12180 87238 107329 58868 NY POINT HONORS 214315 214315 4253 38632 34724 1 89088 84512 4576 2500 10320 596 12080 668940 625808 43132 14680 101811 146557 105672 368720 -325588 1 SCHOLARSHIP/STIPEND 84 692942 94096 FMV SHARED COST OF UNDIVIDED BILL PART I, LINE 2: APPLICANTS MUST COMPLETE AN ONLINE APPLICATION BY THE ANNOUNCED DEADLINE. THE APPLICATION INCLUDES SECTIONS FOR GENERAL, FAMILY AND CITIZENSHIP INFORMATION, ACADEMIC RECORD AND STANDARDIZED TEST SCORES, LEADERSHIP EXPERIENCE, LGBT COMMUNITY EXPERIENCE, FINANCIAL NEED, AND ESSAYS. EACH APPLICATION IS READ AND SCORED BY 2 TO 3 POINT FOUNDATION DIRECTORS, STAFF AND/OR PRE-QUALIFIED/APPROVED VOLUNTEERS. SCORES ARE BASED UPON RUBRICS DEVELOPED FOR THAT PURPOSE, AND READERS ARE TRAINED IN THEIR USE. THE APPLICANT POOL IS NARROWED DOWN TO A GROUP OF SEMI-FINALISTS WHO ARE ASKED TO SUBMIT ADDITIONAL SUPPLEMENTAL MATERIAL, INCLUDING LETTERS OF RECOMMENDATION AND OFFICIAL SCHOOL TRANSCRIPTS. THE PRE-SELECTIONS COMMITTEE MEETS TO REVIEW THE STRONGEST SEMI-FINALISTS AND RANK THE APPLICANTS. CANDIDATES SELECTED FOR FURTHER REVIEW ARE INTERVIEWED BY TELEPHONE, FROM WHICH PROCESS A POOL OF FINALISTS IS SELECTED. THOSE FINALISTS ARE THEN BROUGHT TO A FINAL SELECTION WEEKEND WHERE THEY ARE INTERVIEWED IN PERSON BY PANELS OF POINT DIRECTORS, TRUSTEES, VOLUNTEERS AND STAFF. ALL SCHOLARSHIP RECIPIENTS MUST SHOW PROOF OF ENROLLMENT IN AN ACCREDITED U.S. COLLEGE OR UNIVERSITY. TUITION AND CAMPUS HOUSING PAYMENTS ARE SENT DIRECTLY TO THE SCHOOL UPON SUBMISSION OF A TUITION INVOICE. A COPY OF THE LEASE MUST BE SUBMITTED BEFORE ANY OFF-CAMPUS RENT PAYMENTS ARE PROCESSED. RECEIPTS AND A CHECK REQUEST ARE REQUIRED FOR OTHER SCHOLARSHIP REIMBURSEMENTS, WHICH ARE REVIEWED AND APPROVED BY POINT'S CFO BEFORE REIMBURSEMENT. X X X X X X 0 0 0 0 0 0 0 0 0 JORGE VALENCIA EXECUTIVE DIRECTOR & CEO 232060 0 0 0 0 0 0 0 13857 0 245917 0 0 0 X 7 41328 FMV X MEALS AND BEVERAGES 1 21215 FMV 0 1 0 PART I, COLUMN (B): NON CASH DONATIONS ARE LISTED BY TOTAL NUMBER OF NON CASH CONTRIBUTIONS RECIEVED. FORM 990, PART VI, SECTION B, LINE 11B THE FIRST DRAFT OF THE FORM 990 IS REVIEWED BY THE CFO. THE 990 IS THEN FORWARDED TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS THE 990 AND SUPPORTING DOCUMENTS AND DISCUSSES THE 990 AND ANNUAL AUDIT WITH THE INDEPENDENT AUDITORS. THE AUDIT COMMITTEE SUBMITS THE 990 AND THE ANNUAL AUDITED FINANCIAL STATEMENTS TO THE BOARD OF DIRECTORS (BOD) WITH A RECOMMENDATION OF ACCEPTING THE FORM 990 OR NOT. AFTER DISCUSSION AT A BOD MEETING, THE BOD VOTES TO ACCEPT OR REJECT THE 990. ONCE ACCEPTED, THE FINAL VERSION OF THE 990 IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AT THE BEGINNING OF EACH FISCAL YEAR, DIRECTORS, TRUSTEES AND EMPLOYEES READ AND SIGN-OFF ON POINT'S CONFLICT OF INTEREST POLICY, STATING THAT THEY WILL AVOID ACTIVITIES OR OUTSIDE INTERESTS THAT CONFLICT WITH THE BEST INTERESTS OF POINT FOUNDATION. THE POLICY ALSO REQUIRES THAT THEY FILE A CONFLICT OF INTEREST STATEMENT WITH THE EXECUTIVE DIRECTOR & CEO OF POINT EACH YEAR DISCLOSING ANY ANTICIPATED OR POSSIBLE CONFLICT SITUATIONS PRIOR TO ANY DISCUSSION OR NEGOTIATION OF THE TRANSACTIONS. POINT'S CHIEF OF STAFF COLLECTS, TRACKS AND REVIEWS THESE SIGNED FORMS. A LIST OF BUSINESSES AND/OR ORGANIZATIONS GATHERED FROM THE FORMS IS GIVEN TO THE CFO TO TRACK FINANCIAL DEALINGS THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR/CEO'S COMPENSATION IS NEGOTIATED AT THE BEGINNING OF THE TERM OF EACH MULTIYEAR CONTRACT RENEWAL; AT THAT TIME, THE BOARD OF DIRECTORS DOES A FULL REVIEW OF OTHER LIKE ORGANIZATIONS' SALARIES, USING IRS 990S, WHICH REVIEW INFORMS ITS OFFER AND APPROVAL OF THE EMPLOYMENT AGREEMENT. ANNUAL INCREASES ARE DETERMINED BY THE TERMS OF THE EMPLOYMENT AGREEMENT; ANNUAL BONUSES ARE DETERMINED BY A PERFORMANCE REVIEW COMPLETED BY THE BOARD OF DIRECTORS AT THE END OF EVERY FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 15B THE EXECUTIVE DIRECTOR/CEO, ALONG WITH THE DEPUTY EXECUTIVE DIRECTOR, USE COMPARABLE DATA TO REVIEW AND APPROVE THE COMPENSATION OF OTHER EMPLOYEES, INCLUDING THE CFO. THE OVERALL COMPENSATION INCREASE IS APPROVED BY THE FINANCE COMMITTEE AND BOARD OF DIRECTORS AS PART OF THE ANNUAL BUDGET APPROVAL PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE FOLLOWING POLICIES ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE: CONFLICT OF INTEREST POLICY FOR DIRECTORS, TRUSTEES, STAFF, ALUMNI AND SCHOLARS; NON-DISCRIMINATION POLICY; AND PRIVACY POLICY. THE AUDITED FINANCIAL STATEMENTS, FORM 990 AND THE ANNUAL REPORT ARE ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: LOSS ON WRITE-OFF OF UNCOLLECTIBLE PLEDGES RECEIVABLE -66,340. FORM 990, PART XII, LINE 2C NO CHANGES WERE MADE TO THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR, AS COMPARED TO THE PRIOR TAX YEAR.