2019-11-08T10:49:31-06:00 2018-12-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2018-01-01 237173492 A BETTER CHANCE INC ABET 6463461310 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 SANDRA E TIMMONS PRESIDENT 6463461310 2019-11-08 1 MAGDALENA M CZERNIAWSKI P00535099 2125038800 47.19.112.229 2019-11-08 09:15:30 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 E99CEA45C307B5E011B655275064C3D25F8033D4 2018 2020-03-31 21:24:44Z SANDRA E TIMMONS 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 5609330 0 X WWW.ABETTERCHANCE.ORG X 1971 MA TO CREATE A DIVERSE CADRE OF FUTURE LEADERS. 16 15 40 700 0 19548 2831084 3083432 325536 139195 1228030 581840 10437 -13230 4395087 3791237 72104 177994 0 0 2482188 2310000 0 0 895040 1916570 1862205 4470862 4350199 -75775 -558962 13572226 11797820 2067026 2340278 11505200 9457542 TO INCREASE THE NUMBER OF WELL-EDUCATED YOUNG PEOPLE OF COLOR CAPABLE OF ASSUMING RESPONSIBLE AND LEADERSHIP ROLES IN AMERICAN SOCIETY. 0 0 2928714 177994 139195 IN FISCAL YEAR 2018, A BETTER CHANCE RECEIVED 2419 APPLICATIONS, 737 ACCEPTANCES, AND 571 PLACEMENTS. THE ORGANIZATION HOSTED 6 SCHOOL FAIRS IN LOS ANGELES, OAKLAND, ATLANTA, PHILADELPHIA, WASHINGTON D.C., AND NEW YORK AT WHICH OVER 177 MEMBER SCHOOLS PARTICIPATED. THE ORGANIZATION ALSO LED MORE THAN 5 REFERRAL NIGHTS, FINISHING STRONG, AND FINANCIAL AID WORKSHOPS WHICH ARE USED TO HELP FAMILIES BETTER NAVIGATE AND UNDERSTAND THE APPLICATION, ACCEPTANCE, AND PLACEMENT PROCESS. 2928714 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 24 0 1 40 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 16 15 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 X SANDRA E TIMMONS 6463461352 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 A LOUIS PARKER VICE-CHAIR 2.00 X X 0 0 0 ARTURO SIDA DIRECTOR (OUTGOING) 2.00 X 0 0 0 CARLA A HARRIS VICE-CHAIR 2.00 X X 0 0 0 DARRELL FORD DIRECTOR 2.00 X 0 0 0 DONALD W TOREY DIRECTOR 2.00 X 0 0 0 FRANK CLYBURN DIRECTOR 2.00 X 0 0 0 GREGORY T DURANT VICE-CHAIR 2.00 X X 0 0 0 HERVE TESSLER DIRECTOR (OUTGOING) 2.00 X 0 0 0 KEITH EVANS DIRECTOR 2.00 X 0 0 0 KURT VAN WAGENEN CHAIR 2.00 X X 0 0 0 PETER ALLAN ATKINS DIRECTOR 2.00 X 0 0 0 RHONDA TROTTER DIRECTOR 2.00 X 0 0 0 RICHARD DANTAS DIRECTOR 2.00 X 0 0 0 SANDRA E TIMMONS PRESIDENT 37.50 X X 236545 0 22045 SIMONE YATRAKIS DIRECTOR 2.00 X 0 0 0 SUSAN CHAPMAN-HUGHES DIRECTOR 2.00 X 0 0 0 THEO KILLION DIRECTOR 2.00 X 0 0 0 VLADIMIR BERNARD DIR. OF FIN. AND ADMIN. (OUTGOING) 37.50 X 56251 0 5143 ALAN HEAPS DIR. OF PROGRAMS 37.50 X 143850 0 4100 NICOLE JOHNSON DIR. OF DEVELOPMENT 37.50 X 161714 0 26537 598360 0 57825 3 0 1 0 0 1494567 1588865 90650 3083432 SCHOOL MEMBERSHIP DUES 611600 115434 115434 REGISTRATION FEES 900099 23761 23761 139195 243381 243381 6770 6770 2091052 1752593 338459 338459 338459 45500 1494567 65500 -20000 -20000 3791237 139195 0 568610 177994 177994 319983 211059 57206 51718 1634080 1195161 94155 344764 57318 41944 3585 11789 134032 97994 8502 27536 164587 118895 12755 32937 20236 20236 35499 35499 68874 51029 5554 12291 368823 83765 152621 132437 146104 60653 49969 35482 399110 300615 29209 69286 368414 353229 2386 12799 61381 43030 5850 12501 18383 16461 657 1265 32695 22844 3205 6646 EQUIPMENT PURCHASES 120555 79809 9640 31106 MISCELLANEOUS 97054 31665 32091 33298 SUBSCRIPTION AND DUES 60788 36337 3325 21126 RECRUITING 59571 1771 57800 4718 4459 259 4350199 2928714 526445 895040 300 988244 939156 1044610 566896 41107 67020 117292 104393 31282 12899 10373610 9258529 1093373 953020 13572226 11797820 269068 239493 207461 239034 1454000 1754000 136497 107751 2067026 2340278 X -1312625 -1381840 2619496 720537 10198329 10118845 11505200 9457542 13572226 11797820 X -558962 -1194231 -294465 X X 0 1 X 1 0 X 2011204 2633291 568019 2831084 3083432 11127030 2011204 2633291 568019 2831084 3083432 11127030 1086414 10040616 268512 255382 114808 254412 250151 1143265 77647 152046 2964 91214 45500 369371 12639666 1025181 0.79440 0.80770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 10338413 -661540 418345 9258528 11541201 1297212 2500000 10338413 11718977 172224 350000 11541201 11622447 12500 434030 350000 11718977 12754575 2500 -534628 600000 11622447 0.01000 0.98300 0.00700 0 0 21882 16649 5233 95410 87744 7666 12899 BENEFICIAL INTEREST IN PERPETUAL TRUST 953020 953020 DEFERRED RENT 107751 107751 X 2536704 -1194231 148925 -140353 -1185659 3722363 68874 68874 3791237 4584362 148925 154112 303037 4281325 68874 68874 4350199 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, 2018 AND 2017, IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -140,353. PART XII, LINE 2D - OTHER ADJUSTMENTS: NON DEDUCTIBLE TRANSPORTATION BENEFITS 20,548. BAD DEBT 133,564. 0 AWARDS 1540067 1494567 45500 64575 925 1540067 1494567 45500 64575 925 65500 -20000 1 SCHOLARSHIP AWARDS AND RESIDENTIAL ASSISTANCE 59 177994 N/A N/A PART I, LINE 2: "SAFETY NET" AWARDS ARE GRANTED TO COVER COSTS OF SUPPLEMENTAL EDUCATIONAL OPPORTUNITIES (SUCH AS STUDY-ABROAD PROGRAMS AND SCHOOL TRIPS) OFFERED BY MEMBER SCHOOLS. THESE GRANTS ARE PAID DIRECTLY TO THE ORGANIZATION OF SCHOOL SPONSORING THE PROGRAM. FOR ALL SCHOLARSHIP AWARDS GIVEN DIRECTLY TO THE 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 0 0 SANDRA E TIMMONS PRESIDENT 236545 0 0 0 0 0 6952 0 15093 0 258590 0 0 0 NICOLE JOHNSON DIR. OF DEVELOPMENT 161714 0 0 0 0 0 4527 0 22010 0 188251 0 0 0 X 5000 FMV X TEST VOUCHERS 2 85650 FMV 0 1 0 PART I, COLUMN (B): THE NUMBER OF 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. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD CHAIR GATHERED DATA ON CEO SALARIES FROM SISTER ORGANIZATION TAX RETURNS AND FROM SALARY SURVEYS. THIS DATA WAS PRESENTED TO THE EXECUTIVE COMMITTEE, WHICH THEN SET THE CEO'S SALARY FOR THE COMING YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -140,353. NON DEDUCTIBLE TRANSPORTATION BENEFITS -20,548. BAD DEBT -133,564. 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.