2017-05-11T10:12:52-05:00 2016-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBOROUGH MA 01581 990 2016-02-09 811625366 NORTH STAR ACADEMY FOUNDATION INC NORT 7186406355 C/O RHF 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 BRETT PEISER CEO 7186406355 2017-05-08 1 JOHN BUCKLEY CPA P00830631 5083669100 2017-05-08 2015 2021-01-29 14:40:06Z X BRETT PEISER 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 5874473 0 X WWW.UNCOMMONSCHOOLS.ORG X 2016 NJ NSA FOUNDATION WAS FORMED TO SUPPORT NORTH STAR ACADEMY CHARTER SCHOOL OF NEWARK, BOTH OPERATIONALLY AND IN CONNECTION WITH THE ACQUISITION AND DEVELOPMENT OF FACILITIES. 3 1 0 1 0 0 5500000 374473 0 0 5874473 0 0 0 0 0 141993 141993 5732480 124065275 112388826 11676449 NSA FOUNDATION WAS FORMED TO SUPPORT NORTH STAR ACADEMY CHARTER SCHOOL OF NEWARK, BOTH OPERATIONALLY AND IN CONNECTION WITH THE ACQUISITION AND DEVELOPMENT OF FACILITIES. 0 0 137284 374473 EXPENSES INCURRED IN SUPPORTING NORTH STAR ACADEMY CHARTER SCHOOL OF NEWARK. PLEASE REFER TO FORM 990, PART III, LINE 1, FOR THE ORGANIZATION'S MISSION. 137284 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 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 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X DIANE FLYNN 7186406355 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 BRETT PEISER DIRECTOR / CEO 1.00 46.00 X X 0 289323 20959 DIANNE FLYNN DIRECTOR / CFO 1.00 40.00 X X 0 74585 0 AHKILAH JOHNSON DIRECTOR 1.00 X 0 0 0 CAROLYN HACK FORMER CFO / COO 1.00 40.00 X 0 128200 4765 PAUL BAMBRICK SANTOYO MANAGING DIRECTOR 1.00 40.00 X 0 226533 20959 JOSHUA PHILLIPS CHIEF INNOVATION AND SCHOOL OPERATION OFFICER 1.00 40.00 X 0 215454 22795 JULIE JACKSON MANAGING DIRECTOR 1.00 40.00 X 0 226041 19845 DANA LEHMAN MANAGING DIRECTOR 1.00 40.00 X 0 213343 22795 BARBARA MARTINEZ CHIEF EXTERNAL OFFICER 1.00 40.00 X 0 156539 13342 SARA BATTERTON CHIEF OPERATING OFFICER 1.00 40.00 X 0 165310 9868 JULIE KENNEDY FORMER MANAGING DIRECTOR 1.00 40.00 X 0 112582 13148 LAURA LEE MCGOVERN CHIEF OF STAFF 1.00 40.00 X 0 185972 20536 TARA MARLOVITZ COO-UNCOMMON NYC 1.00 40.00 X 0 164436 20523 MICHAEL AMBRIZ COO-NORTH STAR ACADEMY 1.00 40.00 X 0 170694 8956 ANNA HALL COO-UNCOMMON UPSTATE NY 1.00 40.00 X 0 151144 23011 0 2480156 221502 0 0 1 0 0 5500000 5500000 RENTAL INCOME 531110 194277 194277 REAL ESTATE REIMBURSEM 531120 180196 180196 374473 5874473 374473 0 0 4709 4709 34055 34055 74984 74984 28245 28245 141993 137284 4709 0 1315230 1044634 24167 83646618 7338006 0 76308612 0 45372632 0 124065275 3787691 19804 56475302 0 52106029 0 112388826 X 11676449 0 11676449 0 124065275 X 5732480 5943969 X X 0 1 X 1 0 X 5500000 5500000 5500000 5500000 5500000 5500000 374473 X PART II, SHORT YEAR EXPLANATION: NORTH STAR ACADEMY FOUNDATION INC. WAS INCORPORATED ON FEBRUARY 9, 2016 RESULTING IN A SHORT YEAR OF REPORTING FOR THE ORGANIZATION ON THE 2015 FEDERAL FORM 990. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4583736 4583736 46179444 4286019 41893425 32883438 3051987 29831451 76308612 RESTRICTED DEPOSITS 30074296 CONSTRUCTION IN PROCESS 12683084 FINANCING FEES, NET 2615252 45372632 CAPITAL LEASE OBLIGATION 3040101 DUE TO RELATED PARTIES 2125526 NOTES PAYABLE TO RELATED PARTIES 46940402 52106029 X PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR THE UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS AT JUNE 30, 2016. X X X 0 0 0 0 0 0 0 1 0 BRETT PEISER DIRECTOR / CEO 0 283823 0 5500 0 0 0 3500 0 17459 0 310282 0 0 PAUL BAMBRICK SANTOYO MANAGING DIRECTOR 0 221033 0 5500 0 0 0 3500 0 17459 0 247492 0 0 JOSHUA PHILLIPS CHIEF INNOVATION AND SCHOOL OPERATIO 0 209954 0 5500 0 0 0 3500 0 19295 0 238249 0 0 JULIE JACKSON MANAGING DIRECTOR 0 215541 0 10500 0 0 0 550 0 19295 0 245886 0 0 DANA LEHMAN MANAGING DIRECTOR 0 207843 0 5500 0 0 0 3500 0 19295 0 236138 0 0 BARBARA MARTINEZ CHIEF EXTERNAL OFFICER 0 156039 0 500 0 0 0 0 0 13342 0 169881 0 0 SARA BATTERTON CHIEF OPERATING OFFICER 0 159810 0 5500 0 0 0 3500 0 6368 0 175178 0 0 LAURA LEE MCGOVERN CHIEF OF STAFF 0 180472 0 5500 0 0 0 3500 0 17036 0 206508 0 0 TARA MARLOVITZ COO-UNCOMMON NYC 0 158936 0 5500 0 0 0 3500 0 17023 0 184959 0 0 MICHAEL AMBRIZ COO-NORTH STAR ACADEMY 0 165194 0 5500 0 0 0 3500 0 5456 0 179650 0 0 ANNA HALL COO-UNCOMMON UPSTATE NY 0 140644 0 10500 0 0 0 3500 0 19511 0 174155 0 0 PART I, LINE 7 THE AMOUNTS SHOWN ON PART II, COLUMN B(II) REFLECT BONUSES PAID TO THE INDIVIDUALS NOTED HEREIN DURING CALENDAR YEAR 2015. FORM 990, PART VI, SECTION B, LINE 11 THE FEDERAL FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS OF NORTH STAR ACADEMY FOUNDATION, INC. FOR REVIEW BY ITS MEMBERS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF DIRECTORS, OFFICERS, KEY EMPLOYEES AND SENIOR MANAGEMENT PERSONNEL COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION'S CHIEF FINANCIAL OFFICER FOR REVIEW. THEREAFTER, IF ANY CONFLICTS ARE IDENTIFIED, THE CHIEF FINANCIAL OFFICER PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES FOR REVIEW WITH THE BOARD OF DIRECTORS. WHEN NECESSARY, PROCEDURES ARE CREATED FOR ADDRESSING ANY IDENTIFIED CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 TWO OF NORTH STAR ACADEMY FOUNDATION, INC.'S DIRECTORS AND/OR OFFICERS ARE EMPLOYEES OF UNCOMMON SCHOOLS, INC. THESE INDIVIDUALS ARE COMPENSATED ONLY FOR THEIR EMPLOYMENT SERVICES TO UNCOMMON SCHOOLS, INC. THE COMPENSATION IS PAID ONLY BY UNCOMMON SCHOOLS, INC. UNCOMMON SCHOOLS INC.'S BOARD OF DIRECTORS HAS A COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE COMPLETES A COMPARATIVE ANALYSIS OF SIMILAR ORGANIZATIONS WHICH IT USES AS GUIDANCE WHEN IT REVIEWS AND APPROVES THE COMPENSATION AND BENEFITS OF SENIOR MANAGEMENT. THE COMPENSATION COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE INDIVIDUALS WHICH INCLUDES BOTH CURRENT AND DEFFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND UNQUALIFIED. THE COMPENSATION COMMITTEE'S REVIEW IS COMPLETED ON A REGULAR BASIS AND ENSURES THAT THE "TOTAL COMPENSATION" OF SENIOR MANAGEMENT IS REASONABLE. THE ACTIONS TAKEN BY THE COMPENSATION COMMITTEE ENABLE UNCOMMON SCHOOLS, INC. TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR PURPOSES OF INTERNAL REVENUE CODE 4958 WITH RESPECT TO THE TOTAL COMPENSATION OF CERTAIN MEMBERS OF THE SENIOR MANAGEMENT TEAM. THE THREE FACTORS WHICH MUST BE SATISFIED IN ORDER TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS ARE THE FOLLOWING: 1. THE COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY AN "AUTHORIZED BODY" OF THE APPLICABLE TAX-EXEMPT ORGANIZATION WHICH IS COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A "CONFLICT OF INTEREST" WITH RESPECT TO THE COMPENSATION ARRANGEMENT. 2. THE "AUTHORIZED BODY" OBTAINED AND RELIED UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION; AND 3. THE "AUTHORIZED BODY" "ADEQUATELY DOCUMENTED THE BASIS FOR ITS DETERMINATION" CONCURRENTLY WITH MAKING THAT DETERMINATION. THE COMPENSATION COMMITTEE IS COMPRISED OF MEMBER OF THE BOARD OF TRUSTEES/DIRECTORS OF UNCOMMON SCHOOLS, INC. EACH OF WHOM ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. THE COMPENSATION COMMITTEE ADEQUATELY DOCUMENTED ITS BASIS FOR ITS DETERMINATION THROUGH THE TIMELY PREPARATION OF WRITTEN MINUTES OF THE COMPENSATION COMMITTEE'S MEETINGS WHICH THE EXECUTIVES' COMPENSATION AND BENEFITS WERE REVIEWED AND SUBSEQUENTLY APPROVED. THE ACTIONS OUTLINED ABOVE AND ON PAGE ONE WITH RESPECT TO THE COMPENSATION COMMITTEE AND THE ESTABLISHMENT OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS ONLY APPLIES TO CERTAIN SENIOR MANAGEMENT PERSONNEL. FORM 990, PART VI, SECTION C, LINE 19 NORTH STAR ACADEMY FOUNDATION, INC'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND CONSOLIDATED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER OF NET ASSETS FROM UNCOMMON SCHOOLS, INC. 5,943,969. PART XII, LINE 2C THE ORGANIZATION DID NOT CHANGE THE OVERSIGHT PROCESS DURING THE TAX YEAR. 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