2018-10-29T07:52:39-05:00 2017-12-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2017-01-01 237173492 A BETTER CHANCE INC ABET 6463461310 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 SANDRA E TIMMONS PRESIDENT 6463461310 2018-10-27 1 MAGDALENA M CZERNIAWSKI P00535099 2125038800 69.74.165.34 2018-10-27 09:05:55 ED P CE55B992A4E7BB938BB83E29A744DC585541D033 79DA3F7F838F945FD86622B3E897B41B13144F08 2017 2019-02-21 02:37:17Z SANDRA E TIMMONS 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 8931837 0 X WWW.ABETTERCHANCE.ORG X 1971 MA TO CREATE A DIVERSE CADRE OF FUTURE LEADERS. 16 15 40 650 0 0 568019 2831084 97045 325536 258190 1228030 4294 10437 927548 4395087 1578 72104 0 0 724400 2482188 0 0 925591 636167 1916570 1362145 4470862 -434597 -75775 14999913 13572226 3473324 2067026 11526589 11505200 TO INCREASE THE NUMBER OF WELL-EDUCATED YOUNG PEOPLE OF COLOR CAPABLE OF ASSUMING RESPONSIBLE AND LEADERSHIP ROLES IN AMERICAN SOCIETY. 0 0 3024440 72104 325536 IN FISCAL YEAR 2017, A BETTER CHANCE RECEIVED 2,451 APPLICATIONS, 731 ACCEPTANCES, AND 565 PLACEMENTS. THE ORGANIZATION INTERVIEWED 1,081 CANDIDATES AND HOSTED 6 SCHOOL FAIRS IN LOS ANGELES, OAKLAND, ATLANTA, PHILADELPHIA, WASHINGTON D.C., AND NEW YORK AT WHICH OVER 800 STUDENTS AND 150 MEMBER SCHOOLS PARTICIPATED.THE ORGANIZATION ALSO LED MORE THAN 20 REFERRAL NIGHTS, FINISHING STRONG, AND FINANCIAL AID WORKSHOPS WHICH ARE USED TO HELP FAMILIES BETTER NAVIGATE AND UNDERSTAND THE APPLICATION, ACCEPTANCE AND PLACEMENT PROCESSES. 3024440 1 1 0 0 0 0 0 0 0 1 1 0 0 1 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 26 0 40 1 0 0 0 0 0 1 1 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 MR KURT VAN WAGENEN CHAIR 2.00 X X 0 0 0 MR GREGORY T DURANT VICE-CHAIR 2.00 X X 0 0 0 MS CARLA A HARRIS VICE-CHAIR 2.00 X X 0 0 0 MR PETER ALLAN ATKINS DIRECTOR 2.00 X 0 0 0 MS SUSAN CHAPMAN-HUGHES DIRECTOR 2.00 X 0 0 0 MR FRANK CLYBURN DIRECTOR 2.00 X 0 0 0 MR RICHARD DANTAS DIRECTOR 2.00 X 0 0 0 MR KEITH EVANS DIRECTOR 2.00 X 0 0 0 MR THEO KILLION DIRECTOR 2.00 X 0 0 0 MR A LOUIS PARKER DIRECTOR 2.00 X 0 0 0 MR ARTURO SIDA DIRECTOR 2.00 X 0 0 0 MR HERVE TESSLER DIRECTOR 2.00 X 0 0 0 MR DONALD W TOREY DIRECTOR 2.00 X 0 0 0 MS RHONDA TROTTER DIRECTOR 2.00 X 0 0 0 MS SIMONE YATRAKIS DIRECTOR 2.00 X 0 0 0 MR RONALD R PRESSMAN CHAIR (FORMER) 2.00 X X 0 0 0 MS SANDRA E TIMMONS PRESIDENT 37.50 X X 230505 0 12183 MR VLADIMIR BERNARD DIR. OF FINANCE AND ADMIN. 37.50 X 96245 0 4324 MS NICOLE JOHNSON DIR. OF DEVELOPMENT 37.50 X 140904 0 8232 MR ALAN HEAPS DIR. OF PROGRAMS 37.50 X 134750 0 8221 602404 0 32960 3 0 1 0 0 864983 1966101 26212 2831084 SCHOOL MEMBERSHIP DUES 611600 174935 174935 REGISTRATION FEES 900099 150601 150601 325536 243975 243975 10437 10437 5429591 4445536 984055 984055 984055 91214 864983 91214 0 4395087 325536 0 1238467 72104 72104 567423 216513 152202 198708 1534250 1216095 45339 272816 80881 61413 3909 15559 126110 109646 1229 15235 173524 121735 14382 37407 39337 39337 76438 51478 6034 18926 327682 88370 125370 113942 44387 21250 22047 1090 379227 275069 26929 77229 525024 497899 14007 13118 85286 57718 6034 21534 21922 19249 632 2041 37526 25309 2902 9315 MISCELLANEOUS 110595 38723 28228 43644 SUBSCRIPTION AND DUES 71470 47312 5436 18722 TELEPHONE AND INTERNET 46027 25564 12052 8411 EQUIPMENT PURCHASES 45321 29872 3823 11626 106328 49121 10939 46268 4470862 3024440 520831 925591 272493 388244 1463250 1044610 39418 41107 117292 86010 48504 31282 12176379 10973610 999869 1093373 14999913 13572226 237999 269068 281325 343958 2954000 1454000 3473324 2067026 X -2253820 -1312625 1675584 2619496 12104825 10198329 11526589 11505200 14999913 13572226 X -75775 327509 -273123 X X 0 1 X 1 0 X 4179989 2011204 2633291 568019 2831084 12223587 4179989 2011204 2633291 568019 2831084 12223587 1399141 10824446 284110 268512 255382 114808 254412 1177224 13400811 820151 0.80770 0.84960 X 0 11541201 1297212 2500000 10338413 11718977 172224 350000 11541201 11622447 12500 434030 350000 11718977 12754575 2500 -534628 600000 11622447 13112925 7500 213150 579000 12754575 0.00900 0.88100 0.11000 0 0 21882 14413 7469 95410 71597 23813 31282 BENEFICIAL INTEREST IN PERPETUAL TRUST 1093373 1093373 X 4771474 327509 31812 93504 452825 4318649 76438 76438 4395087 4792863 31812 366627 398439 4394424 76438 76438 4470862 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, 2017 AND 2016, 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 93,504. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT FROM PLEDGES 366,627. 1 STETWIN CONSULTING 708 THIRD AVENUE 6TH FLOOR NEW YORK NY 10017 COORDINATION OF THE ANNUAL AWARDS EVENT SCHEDULED FOR SPRING 1 956197 57000 899197 956197 57000 899197 AK AL AR AZ CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV GALA 956197 864983 91214 91214 956197 864983 91214 91214 91214 0 1 SCHOLARSHIP AWARDS AND RESIDENTIAL ASSISTANCE 35 72104 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 MS SANDRA E TIMMONS PRESIDENT 230505 0 0 0 0 0 6915 0 5268 0 242688 0 0 0 X 3 26212 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 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 DIRECTOR OF FINANCE 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 93,504. BAD DEBT -366,627. 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.