2018-10-31T14:22:17-05:00 2017-12-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2017-06-21 822116378 BUILDING EQUITY INITIATIVE INC BUIL 2125717260 304 HUDSON STREET NO 301 NEW YORK NY 10013 BRAHM CRAMER TREASURER 2125717260 2018-10-31 1 GARRETT M HIGGINS P00543209 2122862600 2018-10-31 4.15.211.182 2018-10-31 13:48:29 ED P C5C0E2060BEB3F24671B5CC0358F632D6B4109AD C5C0E2060BEB3F24671B5CC0358F632D6B4109AD 2017 2019-02-21 02:37:17Z X KYLE PETERSON 304 HUDSON STREET NO 301 NEW YORK NY 10013 775929 0 X N/A X 2017 DE THE PURPOSE OF BEI IS TO MAKE CAPITAL AVAILABLE FOR HIGH PERFORMING PUBLIC CHARTER SCHOOLS, EITHER THROUGH DIRECT LENDING, OR BY LENDING TO A NON-PROFIT DEVELOPER WHO WILL LEASE THE DEVELOPED FACILITY TO A CHARTER SCHOOL. 3 2 0 4 0 0 775929 0 0 0 775929 0 0 0 0 0 776218 776218 -289 1598711 1599000 -289 X BEI IS ESTABLISHED FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF CIVIC BUILDERS, INC., A NEW YORK NOT-FOR-PROFIT CORPORATION, NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS, A COLORADO NOT-FOR-PROFIT CORPORATION, AND SUCH OTHER QUALIFIED PUBLIC CHARITIES THAT EXIST TO SUPPORT CHARTER SCHOOL FACILITIES AS BEI'S MEMBERS AND BOARD OF DIRECTORS MAY DESIGNATE FROM TIME TO TIME. 0 0 THE ORGANIZATION IS IN ITS START UP PHASE. THEREFORE, THERE WERE NO PROGRAM SERVICE EXPENDITURES DURING 2017. 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 2 0 1 1 0 1 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 NY X X BRAHM CRAMER 2125717260 C/O CIVIC BUILDERS HUDSON STREET NY 10013 KYLE PETERSON PRESIDENT 8.00 X X 0 0 0 BRAHM CRAMER TREASURER 4.00 1.00 X X 0 0 0 GREG RICHMOND SECRETARY 4.00 40.00 X X 0 282143 34373 RICHARD BILLINGS SECRETARY UNTIL AUG. 2017 2.00 X X 0 0 0 0 282143 34373 0 0 1 0 0 775929 775929 775929 0 0 0 273866 273866 438849 438849 25000 25000 289 289 38214 38214 776218 0 776218 0 24711 840000 0 734000 0 1598711 840000 759000 0 1599000 X 0 -289 0 -289 0 1598711 -289 0 X X 0 1 X 0 0 X X X 2 CIVIC BUILDERS INC 043635313 7 1 0 0 NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS 841553195 7 1 0 0 2 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 PART IV, SECTION A, LINE 5A: BEI ADDED NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS (EIN: 84-1553195) AS A SUPPORTED ORGANIZATION OF BEI DURING 2017. BEI WAS ESTABLISHED FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF A CLASS OF PUBLIC CHARITIES DESCRIBED IN SECTION 501(C)(3) AND SECTION 509(A)(1) OR (2) OF THE INTERNAL REVENUE CODE THAT OPERATE TO SUPPORT CHARTER SCHOOL FACILITIES (EACH A "QUALIFIED PUBLIC CHARITY"). NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS IS A PUBLIC CHARITY UNDER SECTION 501(C)(3) AND SECTION 509(A)(1) OF THE INTERNAL REVENUE CODE THAT OPERATES TO SUPPORT CHARTER SCHOOL FACILITIES. THE MEMBERS OF BEI, ACTING THROUGH THEIR UNDERSIGNED MEMBER REPRESENTATIVES, APPROVED THE AMENDED AND RESTATED CERTIFICATE OF INCORPORATION FOR BEI AND THE AMENDED BY-LAWS FOR BEI TO ADD NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS AS A SUPPORTED ORGANIZATION OF BEI. WITH THE AMENDMENT OF BEI'S BY-LAWS, NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZES BECOME A MEMBER AND A SUPPORTED ORGANIZATION OF BEI. 0 DEFERRED DEBT ISSUANCE COSTS 734000 734000 X 775929 0 775929 0 775929 776218 0 776218 0 776218 PART X, LINE 2: BEI RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT BEI HAVE NO UNCERTAIN POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. TAX PERIOD SINCE INCEPTION REMAINS OPEN TO EXAMINATION. 0 0 0 0 0 0 0 0 0 GREG RICHMOND SECRETARY 0 261591 0 20000 0 552 0 0 0 34373 0 316516 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION'S DISREGARDED ENTITY, UNITRANCHE CAPITAL FUND, LLC (UCF) HAS A MANAGEMENT/OPERATING AGREEMENT WITH CIVIC BUILDERS, INC.'S DISREGARDED ENTITY, CIVIC FUND MANAGER, LLC (CFM). PER THE AGREEMENT, CFM WILL ACT AS THE FUND MANAGER OF UCF. CFM WILL FURNISH SERVICES REGARDING THE ORIGINATION UNDERWRITING OF LOANS AND THE MANAGEMENT OF LOANS AND OTHER ASSETS HELD BY UCF. THE MANAGEMENT FEE ACCRUED IN 2017 FOR CFM WAS $273,866. NO INDIVIDUAL REPORTED ON FORM 990, PART VII, SECTION A WAS PAID BY CIVIC BUILDERS, INC. OR CIVIC FUND MANAGER, LLC. FORM 990, PART VI, SECTION A, LINE 4 THE AMENDED BY-LAWS WERE ADOPTED BY THE BOARD OF DIRECTORS IN AUGUST 2017. CHANGES MADE TO THE AMENDED BY-LAWS, INCLUDED THE FOLLOWING: -REMOVED CHARTER FUND, INC. (A PRIVATE FOUNDATION) AS A SUPPORTED ORGANIZATION AND MEMBER OF BUILDING EQUITY INITIATIVE, INC. (BEI) -ADDED NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS (PUBLIC SUPPORTED CHARITY) AS A SUPPORTED ORGANIZATION AND MEMBER OF BUILDING EQUITY INITIATIVE, INC. (BEI) FORM 990, PART VI, SECTION A, LINE 6 BUILDING EQUITY INITIATIVE, INC. (BEI) HAS ONE CLASS OF MEMBERS. THE INITIAL MEMBERS OF BEI SHALL BE AS FOLLOWS: - ONE MEMBER (THE "CB MEMBER") SHALL BE CIVIC BUILDERS, INC., A NEW YORK NOT-FOR-PROFIT CORPORATION AND A QUALIFIED PUBLIC CHARITY. THE MEMBER SHALL ACT THROUGH ITS CHIEF EXECUTIVE OFFICER OR HIS/HER DESIGNEE. - ONE MEMBER (THE "NACSA MEMBER") SHALL BE NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS, A COLORADO NONPROFIT CORPORATION AND A QUALIFIED PUBLIC CHARITY. THE MEMBER SHALL ACT THROUGH ITS CHIEF EXECUTIVE OFFICER OR HIS/HER DESIGNEE. - ONE MEMBER (THE "WFF MEMBER") SHALL BE THE WALTON FAMILY FOUNDATION, INC., A DELAWARE NONSTOCK, NONPROFIT CORPORATION. THE MEMBER SHALL ACT THROUGH ITS EXECUTIVE DIRECTOR OR HIS/HER DESIGNEE. FORM 990, PART VI, SECTION A, LINE 7A ONE OR MORE NEW MEMBERS THAT ARE QUALIFIED PUBLIC CHARITIES MAY BE ADDED AS MEMBERS OF BEI, BY VOTE OF A MAJORITY OF ALL THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS HAVE THE RIGHT TO APPOINT AND REMOVE ONE OR MORE DIRECTORS OF THE BEI. MEMBERS SHALL ALSO HAVE THE RIGHT TO VOTE ON AMENDMENTS TO THE CORPORATION'S CERTIFICATE OF INCORPORATION OR THESE BY-LAWS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE CURRENTLY NO COMMITTEES THAT ARE MADE UP OF THE BOARD MEMBERS. THE CURRENT BOARD OVERSEES ALL AREAS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND IS THEN REVIEWED BY MANAGEMENT PRIOR TO DISTRIBUTION TO ALL BOARD MEMBERS (BY HARD COPY OR ELECTRONICALLY) FOR THEIR REVIEW. ONCE THE FORM 990 IS REVIEWED BY THE BOARD, THE RETURN IS THEN FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BUILDING EQUITY INITIATIVE, INC. (BEI) HAS A WRITTEN CONFLICT OF INTEREST POLICY, WHICH IS MONITORED AND ENFORCED ANNUALLY. THE BOARD CURRENTLY MANDATES THAT ALL MEMBERS OF THE GOVERNING BODY ANNUALLY SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OF DIRECTORS OR DESIGNATED COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE PRESIDENT OR CHAIRPERSON OF THE BOARD OR DESIGNATED COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. THE MINUTES OF THE BOARD OF DIRECTORS AND DESIGNATED COMMITTEES SHALL CONTAIN: A) THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A FINANCIAL INTEREST IN CONNECTION WITH AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THE FINANCIAL INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE BOARD'S OR DESIGNATED COMMITTEE'S DECISION AS TO WHETHER A CONFLICT OF INTEREST IN FACT EXISTED. B) THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION WITH THE PROCEEDINGS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG, AS WELL AS OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, FORM 990, FORM 1023, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST TO 304 HUDSON STREET, SUITE 301, NEW YORK, NY 10013. FORM 990, PART XII, LINE 2C: THE ORGANIZATION PRESENTLY DOES NOT HAVE AN AUDIT COMMITTEE. AS SUCH, THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. UNITRANCHE CAPITAL FUND LLC 304 HUDSON STREET SUITE 301 NEW YORK NY 10013 822307858 PROVIDE LOAN TO SUPPORT BEI'S MISSION DE 775929 1598766 BUILDING EQUITY INITIATIVE INC CIVIC BUILDERS INC 304 HUDSON STREET SUITE 301 NEW YORK NY 10013 043635313 PROVIDES IMMEDIATE NEED FOR CHARTER SCHOOL FACILITIES SUPPORT NY 501(C)3 LINE 7 N/A 0 NATIONAL ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS 105 WEST ADAMS STREET CHICAGO IL 60603 841553195 PROMOTES ESTABLISHMENT AND OPERATION OF QUALITY CHARTER SCHOOLS CO 501(C)3 LINE 7 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0