2016-04-14T08:51:33-05:00 2015-05-31 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2014-06-01 133541913 TEACH FOR AMERICA INC TEAC 2122792080 25 BROADWAY 12TH FLOOR NEW YORK NY 10004 JOSHUA GRIGGS EVP/CHIEF FINANCIAL OFFICER 2122792080 2016-04-05 1 GARRETT M HIGGINS P00543209 9143818900 2016-04-05 2014 2016-08-17 19:52:53Z X SEE SCHEDULE O 25 BROADWAY 12TH FLOOR NEW YORK NY 10004 656467361 0 X WWW.TEACHFORAMERICA.ORG X 1989 CT OUR MISSION IS TO ENLIST, DEVELOP, MOBILIZE AS MANY AS POSSIBLE OF OUR NATION'S MOST PROMISING FUTURE LEADERS TO GROW AND STRENGTHEN THE MOVEMENT FOR EDUCATIONAL EQUITY AND EXCELLENCE. 22 19 7619 37194 465356 292327 294928420 263854521 32253073 32144856 2884603 4697648 1037393 -257220 331103489 300439805 23623395 17244357 0 0 217908745 243204521 0 0 35842721 115855439 115093830 357387579 375542708 -26284090 -75102903 493569971 444449299 55739095 67704722 437830876 376744577 X TEACH FOR AMERICA'S MISSION IS TO BUILD THE MOVEMENT TO END EDUCATIONAL INEQUALITY BY ENLISTING OUR NATION'S MOST PROMISING FUTURE LEADERS IN THE EFFORT. 0 0 58746430 6019395 31400931 TEACHER RECRUITMENT AND SELECTION:TEACH FOR AMERICA ACTIVELY RECRUITS APPLICANTS FROM APPROXIMATELY 830 COLLEGES AND UNIVERSITIES AS WELL AS MEMBERS OF THE MILITARY AND PROFESSIONALS, THEN SELECTS FROM THAT POOL A DIVERSE TEACHING CORPS OF TOP COLLEGE GRADUATES AND PROFESSIONALS TO TEACH IN THE NATION'S MOST UNDERSERVED COMMUNITIES. THE RECRUITMENT AND SELECTION PROCESS CONSISTS OF IDENTIFYING POTENTIAL RECRUITS, SCHEDULING AND ATTENDING ON AND OFF-CAMPUS RECRUITING EVENTS, CONDUCTING ONE ON ONE RECRUITMENT INTERVIEWS, MAINTAINING ONGOING CORRESPONDENCE, PROCESSING APPLICATIONS (APPROXIMATELY 44,000 APPLICANTS IN 2015) AND CONDUCTING A MULTI-STEP SELECTION INTERVIEW PROCESS, INCLUDING FINAL DAY-LONG INTERVIEW SESSIONS IN MULTIPLE SITES ACROSS THE COUNTRY. TEACH FOR AMERICA HAS A 15% ACCEPTANCE RATE IN THE 2014-2015 ADMISSIONS CYCLE AND APPROXIMATELY 4,100 NEW CORPS MEMBERS BEGAN THEIR TEACHING ASSIGNMENTS IN FALL 2015. 42615386 533824 PRE-SERVICE INSTITUTE:PRE-SERVICE INSTITUTE IS ONE OF TEACH FOR AMERICA'S LARGEST PROGRAMMATIC EXPENSES. TEACH FOR AMERICA CONDUCTS INTENSIVE SUMMER TRAINING INSTITUTES HELD ON UNIVERSITY CAMPUSES AND IN CONJUNCTION WITH LOCAL PUBLIC SCHOOL DISTRICTS AS PART OF TEACHER PREPARATION FOR INCOMING CORPS MEMBERS. IN SUMMER 2014, APPROXIMATELY 5,300 CORPS MEMBERS WERE TRAINED AT ONE OF NINE CAMPUSES: PHOENIX (AZ), HOUSTON (TX), PHILADELPHIA (PA), LOS ANGELES (CA), NEW YORK (NY), ATLANTA (GA), CHICAGO (IL), CLEVELAND (MS), AND TULSA (OK) OR AT ONE OF OUR REGIONAL INSTITUTES: MEMPHIS, MASSACHUSETTS, TWIN CITIES, CHICAGO, NASHVILLE, OKLAHOMA CITY, AND ST. LOUIS REGIONS. DURING PRE-SERVICE INSTITUTE, CORPS MEMBERS PARTICIPATE IN TRAINING SESSIONS, COLLABORATE WITH PEERS, AND TEACH STUDENTS WHO ENROLL IN PUBLIC SUMMER SCHOOL PROGRAMS HOSTED BY PARTNER SCHOOL DISTRICTS AND PARTICIPATING PUBLIC CHARTER SCHOOLS. 147918630 1175955 PLACEMENT, PROFESSIONAL DEVELOPMENT, AND OTHER: BASED ON THE ARTICULATED HIRING NEEDS OF THE COMMUNITIES WITH WHICH WE PARTNER, TEACH FOR AMERICA BRINGS TEACHING CANDIDATES TO URBAN AND RURAL REGIONS THROUGHOUT THE UNITED STATES. TEACH FOR AMERICA HAS REGIONAL OFFICES, WHICH ARE RESPONSIBLE FOR WORKING WITH SCHOOL AND DISTRICT PARTNERS TO UNDERSTAND THEIR NEEDS, FACILITATING INTERVIEW/EMPLOYMENT OPPORTUNITIES FOR CORPS MEMBERS AT SCHOOLS, MONITORING CLASSROOM PROGRESS THROUGHOUT THEIR TWO-YEAR COMMITMENT, PROVIDING ONE-ON-ONE COACHING AND OBSERVATION, PROVIDING OPPORTUNITIES FOR ONGOING PROFESSIONAL DEVELOPMENT, AND HELPING CORPS MEMBERS BECOME PART OF THEIR LOCAL COMMUNITIES. TEACH FOR AMERICA CORPS MEMBERS TAUGHT ACROSS 52 REGIONS IN 2015. 41717882 9515183 743925 ALUMNI AFFAIRS:ESSENTIAL TO THE LONG TERM WORK OF ADDRESSING THE ISSUES OF EDUCATIONAL INEQUITY, TEACH FOR AMERICA SUPPORTS AND ENCOURAGES ITS ALUMNI TO CONTINUE TO WORK IN EDUCATION AND ACROSS SECTORS TO ADDRESS ISSUES NEGATIVELY IMPACTING LOW INCOME COMMUNITIES. TEACH FOR AMERICA SUPPORTS THE CONTINUED DEVELOPMENT OF ALUMNI IN THREE PROGRAMMATIC AREAS: CLASSROOM PRACTICE, SCHOOL LEADERSHIP AND SOCIAL ENTREPRENEURSHIP. MORE THAN TWO THIRDS OF OUR 37,000 ALUMNI IN 2015 WERE EMPLOYED AS TEACHERS, AS SCHOOL PRINCIPALS, AS SUPERINTENDENTS OR IN OTHER ROLES DIRECTLY IMPACTING EDUCATION WHILE THE OTHER THIRD WORKED ACROSS SECTORS. APPROXIMATELY 84% OF TEACH FOR AMERICA'S 37,000 ALUMNI IN 2015 WERE DOING MISSION ALIGNED WORK EITHER IN EDUCATION OR IN OTHER PROFESSIONS SERVING LOW INCOME COMMUNITIES. 41717882 9515183 743925 290998328 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 3714 0 7619 1 1 1 0 0 0 0 1 1 0 0 0 0 X 22 19 0 0 1 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 AL AK AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS NV NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI X X X JOSHUA GRIGGS EVP TALENTOPERATIONS & ACTING CFO 2122792080 25 BROADWAY 12TH FLOOR NEW YORK NY 10004 X WENDY KOPP CHAIR 8.00 X X 105996 0 0 STEPHEN F MANDEL JR TREASURER 1.00 X X 0 0 0 WALTER ISSACSON DIRECTOR 1.00 X 0 0 0 PAULA A SNEED DIRECTOR 1.00 X 0 0 0 JIDE ZEITLIN DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 THOMAS H CASTRO DIRECTOR 1.00 X 0 0 0 PAUL FINNEGAN DIRECTOR 1.00 X 0 0 0 LEW FRANKFORT DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 DAVID GERGEN DIRECTOR 1.00 X 0 0 0 DAVID W KENNY DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 JOHN LEGEND DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 SUE LEHMANN DIRECTOR 1.00 X 0 0 0 MICHAEL LOMAX PHD DIRECTOR 1.00 X 0 0 0 JAMES M MCCORMICK DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 DARLA MOORE DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 RICHARD S PECHTER DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 GREG PENNER DIRECTOR 1.00 X 0 0 0 NANCY PERETSMAN DIRECTOR 1.00 X 0 0 0 ARTHUR ROCK DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 VINCE ROIG DIRECTOR 1.00 X 0 0 0 SIR HOWARD STRINGER DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 KURT STROVINK DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 BEVERLY DANIEL TATUM PHD DIRECTOR 1.00 X 0 0 0 GREGORY W WENDT DIRECTOR 1.00 X 0 0 0 PATRICIA J CRAWFORD DIRECTOR UNTIL 9/15/14 1.00 X 0 0 0 MILLARD S DREXLER DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 RANDALL H HARBERT DIRECTOR 1.00 X 0 0 0 JOEL KLEIN DIRECTOR 1.00 X 0 0 0 RICHARD D PARSONS DIRECTOR 1.00 X 0 0 0 LAWRENCE SUMMERS DIRECTOR 1.00 X 0 0 0 SARA MARTINEZ TUCKER DIRECTOR UNTIL 12/16/14 1.00 X 0 0 0 JOSE H VILLARREAL DIRECTOR UNTIL 4/10/15 1.00 X 0 0 0 MEG WHITMAN DIRECTOR 1.00 X 0 0 0 MAXINE CLARK DIRECTOR 1.00 X 0 0 0 MATTHEW KRAMER CO-CEO 56.40 X X 373146 0 28990 ELISA VILLANUEVA BEARD CO-CEO 67.80 X X 373146 0 28990 E MIGUEL ROSSY SVP, FINANCE/ADMIN/CFO UNTIL 5/11/15 55.00 X 246945 0 11540 TRACY-ELIZABETH CLAY SVP, GENERAL COUNSEL/CCO/SECRETARY 58.60 X 189718 0 19516 JOSHUA GRIGGS EVP, TALENT, OPERATIONS & ACTING CFO 64.60 X 235058 0 26282 SUSAN ASIYANBI EVP, PROGRAM CONTINUUM 76.80 X 266949 0 5870 ELISSA SODHYUN KIM EVP, RECRUITMENT & ADMISSIONS 60.00 X 258684 0 18364 ERIC SCROGGINS EXECUTIVE DIRECTOR 59.90 X 299074 0 12368 JEFFREY WETZLER EVP, STRATEGY, INNOVATION, ORG. DEV 62.00 X 263185 0 28990 PAUL KEYS EVP, STRATEGY & ENGAGEMENT 47.40 X 260231 0 22045 2872132 0 202955 399 0 1 0 JRM CONSTRUCTION MANAGEMENT 242 WEST 34TH STREET NEW YORK NY 10018 CONSTRUCTION MGMT 6910472 M MOSER ASSOCIATES LLC 257 PARK AVENUE SOUTH SUITE 1101 NEW YORK NY 10010 ARCHITECTURAL DESIGN 3298877 COMPUTER DESIGN & INTEGRATION LLC 696 ROUTE 46 WEST TETERBORO NJ 07608 SOFTWARE CONSULTING 1252723 COLLABORATIVE SOLUTIONS 11190 SUNRISE VALLEY DRIVE RESTON VA 20191 PAYROLL CONSULTING 719565 MCGLADREY LLP 5155 PAYSPHERE CIRCLE CHICAGO IL 60674 FINANCE MGMT CONSULTING 561699 26 X 284434 12935383 69756254 180878450 11066853 263854521 SERVICE FEES REVENUE 611710 31400931 31400931 PUBLICATION REVENUE 900099 552440 552440 REG/CERTIFICATION FEES 611710 191485 191485 32144856 3756756 -276025 4032781 35100 35100 57300 0 57300 57300 57300 355956811 355015919 940892 940892 659236 281656 426300 12935383 1011637 -585337 -585337 IT SERVICES 900099 82145 82145 PURCHASING CARD REBATE 900099 81110 81110 OTHER EVENT INCOME 900099 53018 53018 19444 19444 235717 300439805 32144856 465356 3975072 9515183 9515183 7729174 7729174 1633525 1292504 164250 176771 187000136 143451250 23929591 19619295 6087312 4816503 612075 658734 32646412 25831026 3282572 3532814 15837136 12170113 2002562 1664461 512206 390057 775 121374 119343 74034 22272 23037 704403 704403 303622 303622 11883641 7824236 1624735 2434670 587916 412274 41191 134451 7108593 5169433 1095940 843220 12922045 9110795 2723920 1087330 140120 86922 26150 27048 17391908 14965649 1365459 1060800 36784629 32816278 1604421 2363930 255233 216889 15536 22808 150660 84338 42332 23990 20563288 13593483 5255718 1714087 636119 356093 178736 101290 RELOCATION EXPENSES 3087418 3087418 MISCELLANEOUS EXPENSES 678368 559492 68939 49937 BAD DEBT EXPENSE 494509 20960 471627 1922 INDIRECT SPECIAL EVENT 386185 189297 53990 142898 383624 322345 23425 37854 375542708 290998328 48701659 35842721 X 29345861 38196146 61818664 45051730 98601069 56489028 414264 448642 8304793 8146631 10685035 7849752 101959797 61191887 41305806 40767910 129712356 228331685 111078363 6354727 2303760 12813048 493569971 444449299 41035976 49436254 10830361 10082204 3872758 8186264 55739095 67704722 X 206482231 149850688 114186771 109732015 117161874 117161874 437830876 376744577 493569971 444449299 X -75102903 17813032 -3796428 X X 0 1 X 1 1 1 X 243647246 276189772 192639730 294928420 263854521 1271259689 243647246 276189772 192639730 294928420 263854521 1271259689 100689056 1170570633 2191505 2493238 3428722 4172646 3849156 16135267 10990 30551 10450 51991 1482997 99089 121898 161843 153572 2019399 1289466346 119868308 0.90780 0.92010 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PURCHASING CARD REBATE - 2012 AMOUNT: $ 44,983. 2013 AMOUNT: $ 2,403. 2014 AMOUNT: $ 81,110. MISCELLANEOUS - 2010 AMOUNT: $ 655,102. 2011 AMOUNT: $ 1,833. 2012 AMOUNT: $ 16,220. 2013 AMOUNT: $ 61,880. 2014 AMOUNT: $ 0. OTHER EVENTS REVENUE - 2011 AMOUNT: $ 43,324. 2012 AMOUNT: $ 52,633. 2013 AMOUNT: $ 85,913. 2014 AMOUNT: $ 53,018. HONORARIUM - 2011 AMOUNT: $ 1,000. COMMISSIONS - 2011 AMOUNT: $ 47,487. 2012 AMOUNT: $ 8,062. 2013 AMOUNT: $ 11,647. 2014 AMOUNT: $ 19,444. REGISTRATION FEES - 2010 AMOUNT: $ 827,895. 2011 AMOUNT: $ 5,445. FORM 990, SCHEDULE A, PART II: SHORT YEAR FILING IN 2013 IN OCTOBER 1, 2012, TEACH FOR AMERICA REVISED ITS FISCAL YEAR FROM SEPTEMBER 30 TO MAY 31. AS A RESULT, THE DATA REPORTED IN THE 2012 FORM 990 IS FOR A SHORT YEAR, FOR THE 8 MONTH PERIOD BEGINNING OCTOBER 1, 2012 THROUGH MAY 31, 2013. THE 2013 FORM 990, AS REPORTED ON SCHEDULE A, CONTAINS 12 MONTHS OF FINANCIAL DATA. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 1 3172 0 0 1 998230 0 0 1001402 0 PART II-B, LINE 1: ON A STATE LEVEL, LOCAL ADVISORY BOARD MEMBERS, PAID STAFF OR MANAGEMENT HAD DIRECT CONTACT WITH STATE LEGISLATORS, THEIR STAFF AND MEMBERS OF STATE EXECUTIVE BRANCH AGENCIES IN SUPPORT OF STATE APPROPRIATIONS FOR TEACH FOR AMERICA'S IN-STATE OPERATIONS THROUGH REGULAR STATE BUDGET PROCESSES. IN ADDITION, REGIONAL STAFF ALSO WORKED FOR THE PASSAGE OF VARIOUS PIECES OF LEGISLATION WHICH WOULD IMPACT TEACH FOR AMERICA'S ABILITY TO OPERATE IN A GIVEN COMMUNITY INCLUDING THE PASSAGE OF ALTERNATIVE CERTIFICATION LEGISLATION AND LEGISLATION PERMITTING TEACH FOR AMERICA TO BE RECOGNIZED BY THE STATE AS AN ALTERNATIVE PATHWAY TO TEACH LICENSURE. TEACH FOR AMERICA HAS USED CONSULTANTS AT THE STATE LEVEL TO PROVIDE LOBBYING SERVICES, SUCH AS BILL AND REGULATION TRACKING ON MATTERS, INCLUDING BUT NOT LIMITED TO, TEACHER CERTIFICATION AND STATE FUNDING. AT THE FEDERAL LEVEL, TEACH FOR AMERICA STAFF INTERFACED WITH MEMBERS OF CONGRESS, THEIR PERSONAL AND COMMITTEE STAFF, AND KEY MEMBERS OF THE PRESIDENT'S ADMINISTRATION AND FEDERAL AGENCIES, TO ADVOCATE FOR LEGISLATION AND REGULATIONS THAT WOULD SUPPORT TEACH FOR AMERICA AND THE CONSTITUENCIES WE SERVE. 162329225 17567105 179896330 199348112 3000000 19567057 59585944 162329225 160800743 27502093 11045276 199348112 117494011 32338964 10967768 160800743 91697407 27066562 -1269958 117494011 0.01800 0.65100 0.33100 0 0 81916 3072 78844 20617768 6790951 13826817 81260113 54397864 26862249 40767910 DEFERRED RENT PAYABLE 7345716 OTHER LIABILITIES 376345 CAPITAL LEASE OBLIGATION 464203 8186264 X 318017875 17813032 150805 17963837 300054038 303622 82145 385767 300439805 379104174 150805 3796428 3947233 375156941 303622 82145 385767 375542708 PART V, LINE 4: TEACH FOR AMERICA'S ENDOWMENT IS INTENDED TO PROVIDE A CONTINUOUS SOURCE OF FUNDING TO SUPPORT THE INSTITUTION'S PRIMARY EDUCATIONAL AND SOCIAL MISSION. THE ENDOWMENT'S PRINCIPAL IS INTENDED TO BE LEFT UNTOUCHED, WHILE ITS EARNINGS ARE USED TO FUND VARIOUS ORGANIZATION PROGRAMS (AND GRANTS). PART X, LINE 2: TFA IS A NOT-FOR-PROFIT ENTITY AS DESCRIBED IN SECTION 501 (A) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) AND SIMILAR STATE PROVISIONS. TFA FILES A FORM 990 ANNUALLY WITH THE INTERNAL REVENUE SERVICE AND RELATED STATE RETURNS. WHEN ANNUAL RETURNS ARE FILED, SOME TAX POSITIONS TAKEN ARE HIGHLY CERTAIN TO BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHER TAX POSITIONS ARE SUBJECT TO UNCERTAINTY ABOUT THE TECHNICAL MERITS OF THE POSITION OR AMOUNT OF THE POSITION'S TAX BENEFIT THAT WOULD ULTIMATELY BE SUSTAINED. MANAGEMENT EVALUATED TFA'S TAX POSITIONS, INCLUDING INTEREST AND PENALTIES ATTRIBUTABLE THERETO, AND CONCLUDED THAT THERE ARE NO TAX POSITIONS THAT REQUIRED ADJUSTMENT OR DISCLOSURE TO THE ACCOMPANYING FINANCIAL STATEMENTS. FORMS 990 AND RELATED STATE RETURNS FILED BY TFA ARE SUBJECT TO EXAMINATION BY THE RESPECTIVE TAXING AUTHORITIES UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF EACH RETURN. TFA BELIEVES THAT ITS INFORMATIONAL TAX FILINGS FOR YEARS ENDED PRIOR TO 2012 ARE NO LONGER SUBJECT TO EXAMINATION. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS IT SERVICES TO PART VIII, LINE 11 82,145. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS LOSS ON DISPOSAL DUE TO RELOCATION 3,796,428. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS IT SERVICES TO PART VIII, LINE 11 82,145. NY ANNUAL BENEFIT DINNER 5374711 5336311 38400 165353 65035 CHICAGO BENEFIT DINNER 2249804 2209104 40700 87774 18616 12 5737168 5389969 347199 108968 476892 88999 13361683 12935384 426299 108968 730019 172650 1011637 -585338 1 LEADERSHIP FOR EDUCATIONAL EQUITY 1805 7TH STREET NW 8TH FLOOR WASHINGTON DC 20001 208848357 501(C)4 9515183 CHARITABLE AND EDUCATIONAL PROGRAMS TO STRENGTHEN INDIVIDUAL AND COLLECTIVE LEADERSHIP OF TFA ALUMNI. 0 1 CORPS MEMBERS TRANSITIONAL GRANTS 3171 6019395 AMGEN AWARDS AND PLACEMENT FUNDING AWARDS 64 633876 CORPS MEMBERS COURSEWORK GRANTS 153 533824 CORPS MEMBERS EDUCATION AWARDS 46 249541 CORPS MEMBERS FELLOWSHIPS 16 292538 PART I, LINE 2: TEACH FOR AMERICA PROVIDES GRANTS AND/OR FINANCIAL AID TO CORPS MEMBERS WHO ARE ATTENDING THE CURRENT YEAR'S INSTITUTE. THE ORGANIZATION MAINTAINS A LISTING OF THE INDIVIDUALS THAT BENEFIT FROM THE GRANT, WITH ALL REQUIRED INFORMATION (E.G. FULL NAME, SOCIAL SECURITY NUMBER AND ADDRESS). GRANTS ARE ISSUED BASED ON THE FINANCIAL NEED OF THE RECIPIENT AND MAY BE USED FOR ANY PURPOSE. X X X X X 0 0 0 0 0 0 0 0 0 MATTHEW KRAMER CO-CEO 373146 0 0 0 0 0 15990 0 13000 0 402136 0 0 0 ELISA VILLANUEVA BEARD CO-CEO 373146 0 0 0 0 0 15990 0 13000 0 402136 0 0 0 E MIGUEL ROSSY SVP, FINANCE/ADMIN/CFO UNTIL 5/11/15 246945 0 0 0 0 0 11540 0 0 0 258485 0 0 0 TRACY-ELIZABETH CLAY SVP, GENERAL COUNSEL/CCO/SECRETARY 189718 0 0 0 0 0 11047 0 8469 0 209234 0 0 0 JOSHUA GRIGGS EVP, TALENT, OPERATIONS & ACTING CFO 235058 0 0 0 0 0 15252 0 11030 0 261340 0 0 0 SUSAN ASIYANBI EVP, PROGRAM CONTINUUM 266949 0 0 0 0 0 5870 0 0 0 272819 0 0 0 ELISSA SODHYUN KIM EVP, RECRUITMENT & ADMISSIONS 258684 0 0 0 0 0 5868 0 12496 0 277048 0 0 0 ERIC SCROGGINS EXECUTIVE DIRECTOR 299074 0 0 0 0 0 5868 0 6500 0 311442 0 0 0 JEFFREY WETZLER EVP, STRATEGY, INNOVATION, ORG. DEV 263185 0 0 0 0 0 15990 0 13000 0 292175 0 0 0 PAUL KEYS EVP, STRATEGY & ENGAGEMENT 260231 0 0 0 0 0 10806 0 11239 0 282276 0 0 0 X 113 10996236 FAIR MARKET VALUE X 3 41240 SALES PRICE X TRAVEL TICKETS 2 26997 SALES PRICE X SUPPLIES 2 2380 SALES PRICE 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B). FORM 990, BOX F: THE ORGANIZATION HAS TWO PRINCIPAL OFFICERS: - MATT KRAMER, CO-CEO - ELISA VILLANUEVA-BEARD, CO-CEO FORM 990, PART VI, SECTION A, LINE 4 TEACH FOR AMERICA ("TFA") AMENDED AND RESTATED ITS BYLAWS BY ACTION OF THE BOARD OF DIRECTORS AS OF DECEMBER 17, 2014. THE CHANGES MADE ARE OUTLINED AS FOLLOWS: ARTICLE III, SECTION 3.3 (C) ELECTION AND TERM OF OFFICE: TFA IMPLEMENTED A TERM LIMIT POLICY ALLOWING EACH DIRECTOR TO ONLY SERVE A MAXIMUM OF THREE CONSECUTIVE TERMS. IN EXTRAORDINARY CIRCUMSTANCES AND SUBJECT TO BOARD APPROVAL AND ESTABLISHED CONSIDERATIONS, AN INDIVIDUAL SERVING THE MAXIMUM NUMBER OF TERMS UNDER THE TERM LIMIT POLICY MAY BE ELIGIBLE FOR ADDITIONAL TERMS AFTER HE OR SHE HAS NOT SERVED AS A DIRECTOR FOR AT LEAST ONE YEAR. ARTICLE III, SECTION 3.12 (A) COMMITTEES: NEW WORDING WAS ADDED TO CLARIFY THAT THE BOARD OF DIRECTORS, BY MAJORITY VOTE, MAY ALSO DESIGNATE SPECIAL COMMITTEES AS DEEMED APPROPRIATE. ARTICLE III, SECTION 3.12 (B) COMMITTEES: LANGUAGE WAS ADDED TO CLARIFY THAT THE POWER AND AUTHORITY OF THE BOARD'S EXECUTIVE COMMITTEE DOES NOT INCLUDE THE ELECTION, FILLING OF VACANCIES OR REMOVAL OF BOARD COMMITTEE MEMBERS. THE MEMBERSHIP OF THE EXECUTIVE COMMITTEE WAS REDEFINED TO INCLUDE THE CHAIRPERSON, LEAD DIRECTOR, TREASURER, CHAIRPERSONS OF THE FINANCE COMMITTEE, AUDIT COMMITTEE, AND GOVERNANCE COMMITTEE, AND AN AT-LARGE DIRECTOR. ALL OTHER MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE APPOINTED BY THE BOARD OF DIRECTORS. ARTICLE III, SECTION 3.13 (B) LIFETIME DIRECTORS: CRITERIA FOR LIFETIME DIRECTORS WAS REDEFINED TO INCLUDE THOSE DIRECTORS WHO HAVE SERVED THE MAXIMUM NUMBER OF TERMS UNDER THE TERM LIMIT POLICY AND MET OTHER ELIGIBILITY CRITERIA AS DETERMINED BY THE BOARD MAY BE ELIGIBLE FOR NOMINATION AS A LIFETIME DIRECTOR. ARTICLE V, SECTION 5.2 AD HOC COMMITTEES: THE TFA BOARD MAY ESTABLISH AD HOC COMMITTEES FOR ANY PURPOSE AND DELEGATE POWERS AS APPROPRIATE, AND WHICH ARE NOT INCONSISTENT WITH CONNECTICUT LAW. AD HOC COMMITTEES WILL NOT HAVE THE AUTHORITY OF THE BOARD. AD HOC COMMITTEE MEMBERS ARE BOARD APPOINTED AND MAY CONSIST OF DIRECTORS AND INDIVIDUALS WHO ARE NOT DIRECTORS. ARTICLE IX, INDEMNIFICATION: SECTION 9.1 IN GENERAL: NEW LANGUAGE WAS ADDED TO CLARIFY WHO WILL BE INDEMNIFIED BY TFA AND QUALIFYING EXPENSES THAT MAY BE ATTRIBUTED TO THE INDEMNIFIED PARTIES. ARTICLE IX, INDEMNIFICATION: SECTION 9.2 ADVANCEMENT OF EXPENSES: REASONABLE EXPENSES INCURRED BY AN INDEMNIFIED PARTY SHALL BE PAID BY TFA PRIOR TO THE FINAL DISPOSITION OF SUCH ACTION IF APPROVED BY THE BOARD OF DIRECTORS AND IN ACCORDANCE WITH PROVISIONS OF APPLICABLE LAW. ARTICLE IX, INDEMNIFICATION: SECTION 9.3 INSURANCE: TFA MAY PURCHASE AND MAINTAIN INDEMNITY INSURANCE TO INDEMNIFY TFA AND THE INDEMNIFIED PARTIES. FORM 990, PART VI, SECTION A, LINE 8B FOR THE FIRST HALF OF FY15, ALL OF THE MEETINGS OF THE AUDIT, FINANCE, EXECUTIVE AND GOVERNANCE COMMITTEES OF THE BOARD WERE DOCUMENTED THROUGH MINUTES AND THE REMAINING 7 COMMITTEES DID NOT MEET. IN DECEMBER 2014 THE BOARD MOVED FROM 11 TO 4 COMMITTEES (AUDIT, FINANCE, GOVERNANCE AND EXECUTIVE) AND THE MEETINGS OF THOSE AUDIT, FINANCE AND GOVERNANCE COMMITTEES WERE DOCUMENTED THROUGH MINUTES. WHILE THE EXECUTIVE COMMITTEE ALSO MET DURING THIS TIME, THE MEETINGS WERE NOT DOCUMENTED THROUGH MINUTES AS THEY SOLELY DISCUSSED THE PERFORMANCE REVIEWS OF THE CO-CEOS. FORM 990, PART VI, SECTION B, LINE 11 TEACH FOR AMERICA'S FORM 990 WAS PREPARED BY AN INDEPENDENT TAX PREPARER. MANAGEMENT PERFORMED AN IN-DEPTH REVIEW. A DRAFT OF THE 990 WAS PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. THE FULL BOARD RECEIVES A COPY OF THE DRAFT 990 FORM VIA EMAIL BEFORE THE 990 FORM IS OFFICIALLY FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C TEACH FOR AMERICA, INC. REQUIRES EACH OFFICER, DIRECTOR, OR KEY EMPLOYEE ANNUALLY (1) TO REVIEW THE CONFLICT OF INTEREST POLICY; (2) TO DISCLOSE ANY POSSIBLE PERSONAL, FAMILY, OR BUSINESS RELATIONSHIP THAT REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST; AND (3) TO ACKNOWLEDGE BY HIS OR HER SIGNATURE THAT HE OR SHE IS ACTING IN ACCORDANCE WITH THE LETTER AND SPIRIT OF SUCH POLICY. WHEN A COVERED PERSON BECOMES AWARE OF A PROPOSED COVERED TRANSACTION, HE OR SHE SHALL HAVE A DUTY TO TAKE THE FOLLOWING ACTIONS: (A) IMMEDIATELY DISCLOSE THE EXISTENCE AND CIRCUMSTANCES OF SUCH COVERED TRANSACTION TO THE CHAIR (IN THE CASE OF OFFICERS AND KEY EMPLOYEES OTHER THAN THE CHAIR) OR TO THE BOARD OF DIRECTORS OF THE ORGANIZATION (THE "BOARD") OR APPLICABLE COMMITTEE THEREOF (IN THE CASE OF DIRECTORS AND THE CHAIR); (B) REFRAIN FROM USING HIS OR HER PERSONAL INFLUENCE TO ENCOURAGE THE ORGANIZATION TO ENTER INTO THE COVERED TRANSACTION; AND (C) PHYSICALLY EXCUSE HIMSELF OR HERSELF FROM PARTICIPATION IN ANY DISCUSSIONS REGARDING THE COVERED TRANSACTION WITH OFFICERS, DIRECTORS, AND EMPLOYEES OF THE ORGANIZATION, EXCEPT TO RESPOND TO REQUESTS FOR INFORMATION. CONFLICTS OF INTEREST ARE ADMINISTERED BY THE BOARD OF DIRECTORS, OR ANY APPLICABLE COMMITTEE THEREOF, WITH THE ASSISTANCE OF THE BOARD CHAIR, AND ARE RESPONSIBLE FOR REVIEWING THE ANNUAL DISCLOSURES AND RECEIVING DISCLOSURES OF PROPOSED COVERED TRANSACTIONS, REVIEWING PROPOSED COVERED TRANSACTIONS AND DETERMINING IF AN ACTUAL CONFLICT OF INTEREST EXISTS. THE BOARD DOCUMENTS THEIR REVIEW OF EACH DECLARATION IN THE MINUTES OF THE MEETING AT WHICH THE COVERED TRANSACTION IS COVERED. DOCUMENTATION ALSO INCLUDES THE BASIS FOR THE FINAL DETERMINATION AND RESOLUTION FOR EACH COVERED TRANSACTION. IF THE FINAL DETERMINATION WAS ACCOMPLISHED BY ACTION OF A BOARD COMMITTEE OR THE BOARD CHAIR, A REPORT TO THE BOARD OF DIRECTORS IS CONDUCTED REGARDING ANY COVERED TRANSACTION APPROVED IN ACCORDANCE WITH THE CONFLICTS OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 TEACH FOR AMERICA, INC. USES INDEPENDENT COMPENSATION CONSULTANTS TO ENSURE THAT THE SALARY SET FOR THE CEO IS APPROPRIATE. INDEPENDENT COMPENSATION CONSULTANTS ARE ALSO USED TO ENSURE THAT THE SALARIES FOR THE LEADERSHIP TEAM MEMBERS AND OTHER KEY OFFICERS ARE APPROPRIATE AND IN LINE WITH THOSE OF COMPARABLE ORGANIZATIONS. ALL CEO AND LEADERSHIP TEAM MEMBER SALARIES ARE APPROVED BY THE BOARD AT THE ANNUAL MEETING. DOCUMENTATION PROVIDED TO THE BOARD IN ADVANCE OF THE MEETING REGARDING EXECUTIVE COMPENSATION INCLUDES CURRENT SALARIES, MERCER BENCHMARKED COMPENSATION DATA, SALARY RECOMMENDATIONS FOR THE UPCOMING YEAR, AND ALTERNATIVE OPTIONS FOR CEO SALARY INCREASES. THE BOARD MEMBERS DISCUSS AND FINALIZE THE CEO AND LEADERSHIP TEAM COMPENSATION FOR THE COMING YEAR. ALL DISCUSSIONS, DELIBERATIONS AND DECISIONS REGARDING EXECUTIVE COMPENSATION ARE RECORDED IN THE MINUTES OF THE BOARD MEETING. COMPENSATION STRUCTURES AND INDIVIDUAL STAFF MEMBER SALARIES ARE REVIEWED AND ADJUSTED ANNUALLY AT TEACH FOR AMERICA. REGARDING OUR COMPENSATION STRUCTURES, EACH YEAR, THE COMPENSATION TEAM RECOMMENDS BASELINE ADJUSTMENTS TO THE CEOS, BASED ON MARKET RESEARCH. ONCE APPROVED, ANY FINANCIAL IMPACT IS INCLUDED IN THE OVERALL BUDGET RECOMMENDED TO THE FINANCE COMMITTEE AND THEN APPROVED BY THE BOARD. THESE COMPENSATION STRUCTURES ARE THEN USED TO SET STAFF MEMBER SALARIES IN THE NEXT YEAR IN LINE WITH OUR GUIDING PRINCIPLES OF PAYING COMPETITIVELY RELATIVE TO THE NON-PROFIT ORGANIZATIONS BUT NOT AT THE TOP OF THE MARKET, ADHERING TO INTERNAL EQUITY, RECOGNIZING CHANGES IN SCALE AND MARKET OF ROLES, AND ENSURING WE ARE PAYING FAIRLY AND COMPETITIVELY OVER THE COURSE OF STAFF MEMBER CAREERS IN THE ORGANIZATION THROUGH ANNUAL EVALUATION OF A STAFF MEMBER'S CHANGING CONTRIBUTION TO THE ORGANIZATION. STAFF SALARIES ARE CALIBRATED ANNUALLY BY THE LEADERSHIP TEAM AND APPROVED BY THE CO-CEOS, ENSURING FAIRNESS AND EQUITY ACROSS THE ORGANIZATION AND ALIGNMENT WITH OUR COMPENSATION PHILOSOPHY. THE COMPENSATION SETTING PROCESS, AS OUTLINED ABOVE, WAS LAST PERFORMED DURING THE PERIOD BEGINNING IN APRIL 2015 AND CONCLUDING IN MAY 2015. FORM 990, PART VI, SECTION C, LINE 19 TEACH FOR AMERICA MAKES ITS FORM 990 AVAILABLE TO PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE FORM 990 IS LIKEWISE PUBLISHED ON THE INTERNET AT WWW.GUIDESTAR.ORG AND AT WWW.TEACHFORAMERICA.ORG. TEACH FOR AMERICA ALSO PUBLISHES ITS FINANCIAL STATEMENTS ON ITS WEBSITE. THE ORGANIZATION'S GOVERNING DOCUMENTS AND LEGAL ATTACHMENTS, FORM 1023 AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC IF REQUESTED. FORM 990, PART VII, SECTION A: COMPENSATION OF OFFICERS COMPENSATION FOR WENDY KOPP, MATTHEW KRAMER, AND ELISA VILLANUEVA BEARD IS REPORTED FOR THE PERIOD JANUARY 1, 2014 THROUGH DECEMBER 31, 2014. WENDY KOPP, CHAIR OF BOARD RECEIVED COMPENSATION FOR FUNDRAISING, SPOKEPERSON, AND STRATEGIC CONTRIBUTIONS. MATTHEW KRAMER AND ELISA VILLANUEVA BEARD WERE CO-CEO'S FOR THE 2014 CALENDAR YEAR AND THE ENTIRE FISCAL YEAR 2015. FORM 990, PART VIII, LINE 2A: FEES FOR SERVICE REVENUE TEACH FOR AMERICA HAS CONTRACTUAL AGREEMENTS WITH VARIOUS SCHOOL DISTRICTS ACROSS THE UNITED STATES OF AMERICA TO RECRUIT, SELECT, TRAIN, AND PLACE CORPS MEMBERS TO TEACH WITHIN THEIR SCHOOL DISTRICTS. TEACH FOR AMERICA RECOGNIZES REVENUE RELATED TO THESE CONTRACTUAL AGREEMENTS AS EARNED, THAT IS, WHEN THE CORPS MEMBER IS PLACED. FORM 990, PART X, LINES 27-29: EXPLANATION OF NET ASSETS NET ASSETS OF A NONPROFIT ORGANIZATION ARE EQUIVALENT TO THE NET WORTH OF THE ORGANIZATION. HOWEVER NET ASSETS ARE CLASSIFIED IN THREE CATEGORIES: UNRESTRICTED, TEMPORARILY RESTRICTED AND PERMANENTLY RESTRICTED. UNRESTRICTED NET ASSETS ARE AVAILABLE FOR THE GENERAL OPERATIONS OF AN ORGANIZATION AND HAVE NOT BEEN RESTRICTED BY OUTSIDE DONORS. TEMPORARILY RESTRICTED NET ASSETS ARE RESTRICTED BY DONORS FOR CERTAIN PURPOSES AND/OR FUTURE TIME PERIODS. ONCE THESE RESTRICTIONS ARE MET, THE FUNDS ARE RELEASED AS UNRESTRICTED NET ASSETS. PERMANENTLY RESTRICTED NET ASSETS ARE TO BE MAINTAINED IN PERPETUITY; THEIR INCOME MAY BE USED FOR GENERAL OPERATIONS OR SPECIFIC ACTIVITIES BASED ON DONOR INTENT. UNRESTRICTED NET ASSETS HAVE DIFFERENT DEGREES OF LIQUIDITY AVAILABLE FOR DAILY OPERATIONS ARE NOT A REPRESENTATION OF AVAILABLE CASH FOR OPERATIONS. FOR FY15, OUR NET ASSETS FALL INTO THE FOLLOWING CATEGORIES: 1. APPROXIMATELY 15% IS "RECEIVABLES OR PROMISES FROM INDIVIDUALS, FOUNDATIONS, SCHOOL DISTRICTS, STATE GOVERNMENTS AND THE FEDERAL GOVERNMENT TO MAKE PAYMENTS IN THE FUTURE. MOST OF THESE PAYMENTS ARE TO BE USED TO FUND FUTURE ACTIVITIES, AND ARE NOT CURRENTLY AVAILABLE FUNDS; 2. APPROXIMATELY 31% IS THE BODY OF THE ENDOWMENT AND THUS CANNOT BE SPENT ON PROGRAMMING. IN FY15, OUR ENDOWMENT GENERATED APPROXIMATELY $17.2 MILLION IN ANNUAL RETURNS AVAILABLE FOR CURRENT USAGE, WHICH IS SPREAD BETWEEN THE NATIONAL ORGANIZATION AND OUR REGIONS; 3. APPROXIMATELY 11% IS FIXED ASSETS, WHICH INCLUDES ITEMS SUCH AS DEPRECIATING SOFTWARE, FURNITURE, TECHNOLOGY AND OTHER CAPITAL INVESTMENTS FROM PRIOR YEARS; 4. APPROXIMATELY 22% IS CASH OR CASH EQUIVALENTS. TEACH FOR AMERICA AIMS TO MAINTAIN A MINIMUM OPERATING RESERVE OF AROUND 25% OF ANNUAL EXPENSES THROUGHOUT THE YEAR, OR 3 MONTHS OF EXPENSES, WHICH IS THE BOTTOM OF THE RANGE OF 3-6 MONTHS RECOMMENDED BY BOTH THE NATIONAL COUNCIL FOR NON-PROFITS AND THE NON-PROFITS ASSISTANCE FUND. FORM 990, PART XI, LINE 9: LOSS ON DISPOSAL DUE TO RELOCATION -3,796,428. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S GOVERNING BODY HAS A COMMITTEE CHARGED WITH OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS. THE COMMITTEE'S PROCESS FOR OVERSIGHT OF THE AUDIT, PERFORMED BY AN INDEPENDENT ACCOUNTING FIRM, HAS NOT CHANGED FOR THE REPORTING YEAR. SCHEDULE R, RELATED PARTIES: THROUGH MAY 31, 2014, LEADERSHIP FOR EDUCATIONAL EQUITY ("LEE") AND LEADERSHIP FOR EDUCATIONAL EQUITY FOUNDATION ("LEEF"), WERE ENTITIES THAT WERE CONTROLLED BY TFA THROUGH BOARD OVERLAP. AS A RESULT OF CHANGES IN FISCAL YEAR 2015 TO THE BOARD OF DIRECTORS OF EACH OF THESE ENTITIES, TFA NO LONGER CONTROLS LEE OR LEEF, AND THEREFORE SCHEDULE R IS NO LONGER REQUIRED TO BE COMPLETED.