2015-05-14T12:51:11-05:00 2014-06-30 951777440 GREEN HASSON & JANKS LLP 10990 WILSHIRE BLVD 16TH FLOOR LOS ANGELES CA 900243929 990 2013-07-01 954813155 VALUE SCHOOLS VALU 3103448461 680 WILSHIRE PLACE NO 315 LOS ANGELES CA 90005 GERALDINE JACOBY PRESIDENT/CEO 3103448461 2015-05-11 1 RICHARD L RUVELSON P00234075 3108731600 2013 2016-02-25 16:41:14Z GERALDINE JACOBY 680 WILSHIRE PLACE NO 315 LOS ANGELES CA 90005 9383111 0 X WWW.VALUESCHOOLS.COM X 2000 CA VALUE SCHOOLS OPERATES TWO CHARTER SCHOOLS IN LOW-INCOME NEIGHBORHOODS IN LOS ANGELES. 5 5 108 260 0 0 7723765 8687780 536797 546118 60027 7878 247 141335 8320836 9383111 0 2508648 0 0 5350264 5761355 0 0 8736 2977383 3501203 8327647 11771206 -6811 -2388095 7012675 2927130 3308551 1611101 3704124 1316029 X VALUE SCHOOLS ESTABLISHES AND MAINTAINS PUBLIC CHARTER SCHOOLS IN NEIGHBORHOODS THAT HAVE BEEN TRADITIONALLY UNDERSERVED BY THE PUBLIC SCHOOL SYSTEM. VALUE SCHOOLS OFFERS A SUPERIOR EDUCATIONAL CHOICE FOR FAMILIES LIVING IN LOW-INCOME AREAS OF LOS ANGELES, PROVIDING A STRONG ACADEMIC PROGRAM IN A VALUES-BASED LEARNING COMMUNITY. 0 0 4779417 233593 VALUE SCHOOLS OPERATES CENTRAL CITY VALUE HIGH SCHOOL, A PUBLIC CHARTER SCHOOL EDUCATING STUDENTS IN GRADES 9-12. CURRENTLY ONE OF THE TOP PERFORMING HIGH SCHOOLS IN THE AREA, IN 2014 CENTRAL CITY GRADUATED 98% OF ITS SENIORS, AND SENT OVER 50% TO FOUR YEAR COLLEGES OR UNIVERSITIES. WITH A STRONG SPORTS PROGRAM AND MANY ACTIVE ON-CAMPUS CLUBS, STUDENTS HAVE MULTIPLE OPPORTUNITIES TO DEVELOP LEADERSHIP SKILLS AND PERSONAL INTERESTS. APPROXIMATELY 93% OF CENTRAL CITY'S 470 STUDENTS QUALIFY FOR FREE OR REDUCED PRICED MEALS, A STRONG INDICATOR OF LOW INCOME STATUS. 3809528 312525 VALUE SCHOOLS OPERATES DOWNTOWN VALUE SCHOOL, A PUBLIC K-8 CHARTER SCHOOL. WITH A 2013 API (ACADEMIC PERFORMANCE INDEX) OF 838, A DEDICATED FACULTY AND STRONG PARENT INVOLVEMENT, DOWNTOWN VALUE IS ONE OF THE LEADING ELEMENTARY AND MIDDLE SCHOOLS IN THE AREA. SERVING MOSTLY LOW-INCOME LATINO FAMILIES IN THE PICO UNION AREA OF LOS ANGELES, DOWNTOWN VALUE HAS A WAITING LIST OF OVER 250 STUDENTS. THE MAJORITY OF THE SCHOOL'S GRADUATING EIGHTH GRADERS IS CHOOSING A VALUE SCHOOLS HIGH SCHOOL TO ATTEND IN THEIR NINTH GRADE YEAR. 49973 VALUE SCHOOLS ADDED EVEREST VALUE SCHOOL, A PUBLIC K-8 CHARTER SCHOOL, TO ITS ORGANIZATION IN JULY 1, 2014, WITH THE SUCCESSFUL APPROVAL OF ITS CHARTER. OPENING ITS DOORS IN AUGUST, 2014 IN A TEMPORARY CHURCH-BASED FACILITY IN THE KOREATOWN NEIGHBORHOOD OF LOS ANGELES, EVEREST REACHED ITS CAPACITY OF 175 STUDENTS BY OCTOBER, AND HAS ALREADY ESTABLISHED A WAITING LIST OF INTERESTED FAMILIES. THE MAJORITY OF THE SCHOOL'S GRADUATING EIGHTH GRADERS IS CHOOSING A VALUE SCHOOLS HIGH SCHOOL TO ATTEND IN THEIR NINTH GRADE YEAR. 2508648 2508648 2508648 2508648 11147566 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 15 0 108 1 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 1 0 CA X RHONDA HOFFARTH 2133888695 680 WILSHIRE PLACE NO 315 LOS ANGELES CA 90005 MARIA AHUMADA DIRECTOR 2.00 X 0 0 0 JODY FOLDESY DIRECTOR 2.00 X 0 0 0 GRANT CAMBRIDGE DIRECTOR 2.00 X 0 0 0 JEFFREY GARCIA DIRECTOR 2.00 X 0 0 0 SYLVIA ALDANA DIRECTOR 2.00 X 0 0 0 DR JEROME PORATH RES 122013 PRESIDENT/CEO 40.00 X 140087 0 17969 HOWARD CAPLAN RES 032014 CFO 40.00 X 101515 0 15309 GERALDINE JACOBY CEO 40.00 X 121323 0 17558 DAVID DOYLE PRINCIPAL 40.00 X 110783 0 22301 ANA CHAVEZ PRINCIPAL 40.00 X 104381 0 22616 578089 0 95753 5 0 1 0 0 59706 8519268 108806 8687780 NUTRITION PROGRAM REVE 900099 546118 546118 546118 7878 7878 MISCELLANEOUS REVENUE 900099 141335 141335 141335 9383111 546118 0 149213 2508648 2508648 342291 316281 26010 4280673 3961151 319522 314328 286652 27676 553820 505057 48763 270243 263387 6856 2672 2672 59400 59400 73962 25488 48474 537655 532009 4396 1250 1170519 1155621 14898 18377 17614 384 379 12710 2417 10293 14906 6022 8884 88058 68545 19513 MEAL DELIVERY 1342621 1342621 REPAIRS & MAINTENANCE 134805 134805 DUES & SUBSCRIPTIONS 5780 5780 EMPLOYEE RECRUITMENT 600 600 39138 15468 16563 7107 11771206 11147566 614904 8736 862203 692759 1443436 1421429 809709 758008 314024 54934 0 0 3530392 0 52911 0 7012675 2927130 1232235 867949 1237438 838878 0 0 743152 3308551 1611101 X 3659598 1261108 44526 54921 3704124 1316029 7012675 2927130 -2388095 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO FEDERAL, STATE AND LOCAL GOVERNMENTS 171221 DEFERRED RENT 571931 743152 9383111 0 9383111 0 9383111 11771206 0 11771206 0 11771206 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATION POLICY IS INCLUDED IN ALL SCHOOL LITERATURE AND IS POSTED IN THE SCHOOLS. THE ENROLLMENT AT BOTH CENTRAL CITY VALUE SCHOOL AND DOWNTOWN VALUE SCHOOL ARE 99% MINORITIES. SCHEDULE E, PART I, LINE 6 VALUE SCHOOLS RECEIVES GRANTS FROM THE U.S DEPARTMENT OF EDUCATION AND THE U.S. DEPARTMENT OF AGRICULTURE. 1 VALUE SCHOOL FOUNDATION 950 W WASHINGTON BLVD LOS ANGELES CA 90015 455233028 501(C)(3) FMV 2,508,648 DIFFERENCE BETWEEN CONSIDERATION RECEIVED AND NET BOOK VALUE OF ASSETS TRANSFERRED TO VALUE SCHOOL FOUNDATION 1 PART I, LINE 2: VALUE SCHOOLS TRANSFERRED ASSETS TO A RELATED ENTITY, VALUE SCHOOLS FOUNDATION, MONITORING IS NOT NEEDED. IN AUGUST 2013, VALUE SCHOOLS FOUNDATION ENTERED INTO A LOAN AGREEMENT WITH THE CALIFORNIA SCHOOL FINANCE AUTHORITY (CSFA) TO ACQUIRE, REFINANCE, CONSTRUCT, EXPAND, AND REMODEL THE LAND AND FACILITIES CURRENTLY USED BY VALUE SCHOOLS. THE CSFA SOLD THE CALIFORNIA SCHOOL FINANCE AUTHORITY SCHOOL FINANCE REVENUE BONDS SERIES 2013 TOTALING $12,870,000 ON BEHALF OF VALUE SCHOOLS FOUNDATION. CONSEQUENTLY, VALUE SCHOOLS TRANSFERRED TITLE TO THE LAND, BUILDING AND BUILDING IMPROVEMENTS RELATED TO DVS AND CCVS TO VALUE SCHOOLS FOUNDATION AND SETTLED THE OUTSTANDING BALANCES OF THE NOTES PAYABLE TO THE BOARD MEMBERS AND THE MORTGAGE PAYABLE. THE ORGANIZATION RECOGNIZED GRANT EXPENSE OF $2,508,648 DURING THE YEAR ENDED JUNE 30, 2014, REPRESENTING THE DIFFERENCE IN THE CONSIDERATION RECEIVED AND THE NET BOOK VALUE OF THE ASSETS TRANSFERRED TO VSF. X X X X X 0 0 0 0 0 0 0 0 0 DR JEROME PORATH RES 122013 PRESIDENT/CEO 140087 0 0 0 0 0 12350 0 5619 0 158056 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE CEO REVIEWS THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CEO MONITORS THE POLICY. OFFICERS AND DIRECTORS MUST COMPLETE THE CALIFORNIA FORM 700 - STATEMENT OF ECONOMIC INTERESTS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPROVE THE COMPENSATION PACKAGES FOR ALL EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. ALL BOARD OF DIRECTORS' MEETING AGENDAS AND MINUTES, ALONG WITH FINANCIAL STATEMENTS AND CORPORATE DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XII, LINE 2C NO CHANGES WERE MADE TO THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR, AS COMPARED TO THE PRIOR TAX YEAR. VSF SCHOOL FACILITIES #1 LLC 680 WILSHIRE PLACE SUITE 315 LOS ANGELES CA 90005 SUPPORTS THE VALUE SCHOOLS FOUNDATION CA 3871857 17968305 VALUE SCHOOLS FOUNDATION VALUE SCHOOLS FOUNDATION 950 W WASHINGTON BLVD LOS ANGELES CA 90015 455233028 TO FACILITATE THE DEVELOPMENT OF CHARTER SCHOOLS CA 501(C)(3) LINE 7 N/A 0 0 1 1 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 VALUE SCHOOL FOUNDATION B 2985985 FMV VALUE SCHOOL FOUNDATION C 59706 FMV VSF SCHOOL FACILITIES K 885761 FMV VSF SCHOOL FACILITIES G 14188978 FMV