2015-03-05T12:29:19-06:00 2014-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2013-07-01 311488698 UNCOMMON SCHOOLS INC UNCO 2128443584 C/O RHF 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 BRETT PEISER CEO 2128443584 2015-02-12 1 JOHN BUCKLEY CPA P00830631 5083669100 2015-02-12 2013 2016-02-25 16:41:14Z BRETT PEISER 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 34859031 0 X WWW.UNCOMMONSCHOOLS.ORG X 1996 NJ TO START AND MANAGE OUTSTANDING URBAN CHARTER PUBLIC SCHOOLS THAT CLOSE THE ACHIEVEMENT GAP AND PREPARE LOW-INCOME STUDENTS TO GRADUATE FROM COLLEGE. 11 10 157 0 33722 0 17764202 12409168 23263564 18497071 13832 26165 3995193 3926627 45036791 34859031 8903065 10260820 0 0 9955199 11736920 0 0 794083 9717539 11406796 28575803 33404536 16460988 1454495 84833857 134899436 55315753 101166409 29518104 33733027 X SEE SCHEDULE O. 0 0 31705909 10260820 18497071 GRANTS TO CHARTER PUBLIC SCHOOLS AND EXPENSES INCURRED IN SUPPORTING CHARTER PUBLIC SCHOOLS. PLEASE REFER TO FORM 990, PART III, LINE 1, FOR THE ORGANIZATION'S MISSION. 31705909 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 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 93 0 157 1 1 1 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ NY MA X CAROLYN HACK 2128447905 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 NORMAN ATKINS CHAIRMAN 1.00 6.00 X X 0 0 0 DAVID COOPER DIRECTOR 1.00 1.00 X 0 0 0 DONALD KATZ DIRECTOR 1.00 1.00 X 0 0 0 CHARLES HARRIS DIRECTOR 1.00 1.00 X 0 0 0 PEARL KANE DIRECTOR 1.00 1.00 X 0 0 0 ROBERT KARR DIRECTOR 1.00 1.00 X 0 0 0 RONDO MOSES DIRECTOR 1.00 1.00 X 0 0 0 ROBERT JAIN DIRECTOR 1.00 1.00 X 0 0 0 BROOKE REID DIRECTOR 1.00 1.00 X 0 0 0 NEAL MOSZKOWSKI DIRECTOR 1.00 1.00 X 0 0 0 BRETT PEISER DIRECTOR/CEO 41.00 6.00 X X 270175 0 16940 CAROLYN HACK CFO/COO 40.00 0.00 X 203873 0 9510 PAUL BAMBRICK SANTOYO MANAGING DIRECTOR 40.00 0.00 X 200077 0 23150 JULIE KENNEDY MANAGING DIRECTOR 40.00 0.00 X 198251 0 18221 JOSHUA PHILLIPS MANAGING DIRECTOR 40.00 0.00 X 197311 0 18087 JULIE JACKSON MANAGING DIRECTOR 40.00 0.00 X 199579 0 14721 DANA LEHMAN MANAGING DIRECTOR 40.00 0.00 X 201424 0 10119 BARBARA MARTINEZ CHIEF EXTERNAL OFFICER 40.00 0.00 X 154789 0 13342 LAURA LEE MCGOVERN CHIEF OF STAFF 40.00 0.00 X 149770 0 16555 LAURA MAESTAS CHIEF TALENT OFFICER 40.00 0.00 X 147757 0 4220 TARA MARLOVITS COO-UNCOMMON NYC 40.00 0.00 X 145069 0 20523 MICHAEL AMBRIZ COO- NORTH STAR ACADEMY 40.00 0.00 X 146497 0 8956 KATHLEEN SULLIVAN ASSOCIATE MANAGING DIRECTOR-NYC 40.00 0.00 X 132686 0 4241 2347258 0 178585 13 0 1 0 SILHOUETTE-ART ON VIDEO PO BOX 11052 ALBANY NY 12211 VIDEO EDITING 106203 1 459000 2733855 9216313 192793 12409168 MANAGEMENT FEES 900099 13742163 13742163 TRAINING FEES 611430 2343767 2343767 REAL ESTATE REIMBURSEMENT 531120 2262564 2262564 REAL ESTATE DEVELOPMENT INCOME 531120 148577 148577 18497071 19040 19040 7125 7125 105217 105217 3821410 0 3821410 3821410 33722 3787688 34859031 18497071 33722 3919070 10200120 10200120 60700 60700 1822003 1673549 47538 100916 8370377 7689227 218117 463033 183981 168991 4800 10190 642435 590090 16762 35583 718124 659613 18736 39775 20115 20115 6199 6199 508776 156146 337463 15167 1629392 1623834 5558 4066978 4066978 1691060 1691060 11556 11556 OTHER SCHOOL SUPPORT 1627628 1470811 55480 101337 PROFESSIONAL DEVELOPMEN 1552870 1392842 147394 12634 TELEPHONE AND INTERNET 292222 261948 14826 15448 33404536 31705909 904544 794083 23176678 15965951 3446100 5653372 4608287 6325827 650030 232212 63345377 4915112 49803322 58430265 607523 607523 2541917 47684286 84833857 134899436 1352099 7419240 256665 21600391 53853734 32299204 39084996 64059 551774 55315753 101166409 X 29518104 29481804 4251223 29518104 33733027 84833857 134899436 X 1454495 -206029 2428957 537500 X X 0 1 X 1 1 1 X 17392379 11602179 15573442 17764202 12409168 74741370 17392379 11602179 15573442 17764202 12409168 74741370 7496243 67245127 1543273 2013006 4051793 3985887 3919070 15513029 27901 27901 90282300 66115616 0.74480 0.85330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5803050 5803050 46210077 3515714 42694363 10427361 753067 9674294 904889 646331 258558 58430265 RESTRICTED DEPOSITS 30869586 CONSTRUCTION IN PROCESS 13282764 DUE FROM RELATED PARTY 2209721 FINANCING FEES AND OTHER 1322215 47684286 DUE TO RELATED PARTIES 551774 551774 X PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR 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, 2014. THE ORGANIZATION HAS NO OPEN YEARS PRIOR TO 2010. 1 ROXBURY PREPARATORY CHARTER SCHOOL 22 REGINA ROAD DORCHESTER MA 02124 205060104 MASSACHUSETTS 992372 SCHOOL OPERATIONS NORTH STAR ACADEMY CHARTER SCHOOL 10 WASHINGTON PLACE NEWARK NJ 07102 223497097 NEW JERSEY 1425000 SCHOOL OPERATIONS LEADERSHIP PREPARATORY CHARTER SCHOOL 141 MACON STREET BROOKLYN NY 11216 203505981 NEW YORK 60000 SCHOOL OPERATIONS EXCELLENCE GIRLS CHARTER SCHOOL 794 MONROE STREET BROOKLYN NY 11221 264475595 NEW YORK 196500 SCHOOL OPERATIONS LEADERSHIP PREP CANARSIE CHARTER SCHOOL 1001 EAST 100 STREET BROOKLYN NY 11236 270326938 NEW YORK 1080369 SCHOOL OPERATIONS BEDFORD STUYV COLLEGIATE CHARTER SCHOOL 800 GATES AVENUE BROOKLYN NY 11221 262302736 NEW YORK 663000 SCHOOL OPERATIONS KINGS COLLEGIATE CHARTER SCHOOL 826 BROADWAY FLOOR 9 NEW YORK NY 10003 205733716 NEW YORK 931000 SCHOOL OPERATIONS UNCOMMON LENDER INC 826 BROADWAY FLOOR 9 NEW YORK NY 10003 263594129 NEW YORK 4387878 OPERATIONS TRUE NORTH TROY PREPARATORY ELEMENTARY SCHOOL 2 POLK STREET TROY NY 12180 262857555 NEW YORK 150750 SCHOOL OPERATIONS TRUE NORTH ROCHESTER PREPARATORY ELEMENTARY SCHOOL - WEST CAMPUS 1020 MAPLE STREET ROCHESTER NY 14611 205060104 NEW YORK 310483 SCHOOL OPERATIONS 10 0 EDUCATIONAL SCHOLARSHIPS 19 60700 PART I, LINE 2: UNCOMMON SCHOOLS, INC. SERVES AS THE MANAGEMENT ORGANIZATION TO THE PARTIES LISTED ON PART II. AS SUCH, THE USE OF GRANT FUNDS ARE MONITORED BY UNCOMMON SCHOOLS, INC.'S FINANCE PERSONNEL AS THEY MANAGE THE ACCOUNTING RECORDS OF THE PARTIES LISTED ON PART II. FOR GRANTS NOTED IN PART III, UNCOMMON SCHOOLS, INC. PAYS THE GRANT PROCEEDS AWARDED TO INDIVIDUALS DIRECTLY TO THE HIGHER EDUCATION INSTITUTION. X X X 0 0 0 0 0 0 0 1 0 BRETT PEISER DIRECTOR/CEO 269675 0 500 0 0 0 3500 0 13440 0 287115 0 0 0 CAROLYN HACK CFO/COO 203373 0 500 0 0 0 3500 0 6010 0 213383 0 0 0 PAUL BAMBRICK SANTOYO MANAGING DIRECTOR 199577 0 500 0 0 0 3500 0 19650 0 223227 0 0 0 JULIE KENNEDY MANAGING DIRECTOR 197751 0 500 0 0 0 3500 0 14721 0 216472 0 0 0 JOSHUA PHILLIPS MANAGING DIRECTOR 196811 0 500 0 0 0 3500 0 14587 0 215398 0 0 0 JULIE JACKSON MANAGING DIRECTOR 199079 0 500 0 0 0 0 0 14721 0 214300 0 0 0 DANA LEHMAN MANAGING DIRECTOR 200924 0 500 0 0 0 3500 0 6619 0 211543 0 0 0 BARBARA MARTINEZ CHIEF EXTERNAL OFFICER 154289 0 500 0 0 0 0 0 13342 0 168131 0 0 0 LAURA LEE MCGOVERN CHIEF OF STAFF 149270 0 500 0 0 0 3500 0 13055 0 166325 0 0 0 LAURA MAESTAS CHIEF TALENT OFFICER 147257 0 500 0 0 0 3500 0 720 0 151977 0 0 0 TARA MARLOVITS COO-UNCOMMON NYC 144569 0 500 0 0 0 3500 0 17023 0 165592 0 0 0 MICHAEL AMBRIZ COO- NORTH STAR ACADEMY 145997 0 500 0 0 0 3500 0 5456 0 155453 0 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 2013. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 NONEAVAIL 2012-12-28 5970816 REHABILITATION OF REAL PROPERTIES FOR USE OF PUBLIC CHARTER SCHOOLS 0 0 0 B NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 64591802J 2013-12-30 4586577 REHABILITATION OF REAL PROPERTIES FOR USE OF PUBLIC CHARTER SCHOOLS 0 0 0 C NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 NONEAVAIL 2013-12-23 28248878 REHABILITATION OF REAL PROPERTIES FOR USE OF PUBLIC CHARTER SCHOOLS 0 0 0 D NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 NONEAVAIL 2009-12-31 16480000 REHABILITATION OF REAL PROPERTIES FOR USE OF PUBLIC CHARTER SCHOOLS 0 0 0 A 5970816 5852235 119416 2000 0 0 1 1 B 4586577 4495035 91730 2000 0 0 1 1 C 28248878 564977 11981650 0 0 1 1 D 16480000 16480000 2013 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 C 0 1 0 0 0.03380 0.00000 0.03380 1 0 0 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 0 0 0 0 0 B 0 1 0 0 0 0 0 0 0 C 0 1 1 0 0 0 0 0 0 D 0 1 0 0 0 0 0 0 0 X 2 192793 FMV AT TIME OF GIFT 2 0 1 0 FORM 990, PART III, LINE 1 TO START AND MANAGE OUTSTANDING URBAN CHARTER PUBLIC SCHOOLS IN THE NORTH EAST THAT CLOSE THE ACHIEVEMENT GAP AND PREPARE LOW-INCOME STUDENTS TO GRADUATE FROM COLLEGE. THE ORGANIZATION BUILDS UNCOMMONLY GREAT SCHOOLS BY DEVELOPING AND MANAGING REGIONAL NETWORKS THAT ARE PHILOSOPHICALLY ALIGNED AND HIGHLY ACCOUNTABLE. A PRIMARY PURPOSE OF THE ORGANIZATION WAS TO PROVIDE SUPPORT TO NORTH STAR ACADEMY CHARTER SCHOOL OF NEWARK, A CHARTER PUBLIC SCHOOL. IN THAT CAPACITY, THE ORGANIZATION HELPED THE SCHOOL COME INTO EXISTENCE AND SUBSEQUENTLY BUILD AND EXPAND ITS SCHOOL FACILITIES. CHILDREN ARE ACCEPTED BY RANDOM LOTTERY, ALL TEACHERS ARE CERTIFIED BY THE STATE OF NEW JERSEY, AND THE SCHOOL CONSISTENTLY SCORES AS ONE OF THE HIGHEST ACHIEVING IN THE CITY OF NEWARK. IN ADDITION, THE ORGANIZATION HAS HELPED CREATE, BUILD AND SUPPORT OTHER CHARTER PUBLIC SCHOOLS SIMILAR TO NORTH STAR ACADEMY, INCLUDING EXCELLENCE CHARTER SCHOOL OF BEDFORD STUYVESANT, WHICH OPENED IN BROOKLYN, NEW YORK IN AUGUST, 2004, AND NOW SERVES GRADES K-8. THE SCHOOL ACHIEVED SIGNIFICANT ACHIEVEMENT GAINS IN ITS FIRST YEAR AND WAS HIGHLIGHTED BY NEW YORK CITY SCHOOLS CHANCELLOR JOEL KLEIN DURING A VISIT TO THE SCHOOL. THIS ORGANIZATION IS THE CONTROLLING MEMBER OF EXCELLENCE ACADEMIES FOUNDATION, INC. (EAF), AN INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION; EAF IS A SUPPORTING ORGANIZATION OF UNCOMMON SCHOOLS. EAF WAS FORMED TO BENEFIT EXCELLENCE CHARTER SCHOOL - TO SUPPORT THE SCHOOL'S BUILDING AND OPERATIONS. FOR THE FISCAL YEAR ENDING 6/30/2006, ORGANIZATION MADE A $9.88 MILLION CHARITABLE CONTRIBUTION TO EAF TO SUPPORT THE RENOVATION OF A 120 YEAR-OLD, BLIGHTED AND DECOMMISSIONED PUBLIC SCHOOL BUILDING - PS 16 ON PATCHEN AVENUE IN BROOKLYN. THE FUNDS WERE USED TO SUPPORT THE TRANSFORMATION OF THIS PROPERTY INTO A WORLD-CLASS PUBLIC SCHOOL FACILITY - REDESIGNED BY CELEBRATED ARCHITECT ROBERT A.M. STERN - ONE THAT HOUSES EXCELLENCE CHARTER SCHOOL OF BEDFORD STUYVESANT AND WILL BE OWNED BY THE NEW YORK CITY DEPARTMENT OF EDUCATION IN 2015. UNCOMMON SCHOOLS ALSO HELPED LAUNCH MANY OTHER CHARTER SCHOOLS IN CENTRAL BROOKLYN, UPSTATE NEW YORK AND BOSTON MASSACHUSETTS. ALL OF THESE ARE PUBLIC SCHOOLS. ORGANIZATION PROVIDES SERVICES TO ALL OF THESE SCHOOLS - DEVELOPMENT, FACILITIES, FINANCIAL, TECHNOLOGY, SPECIAL EDUCATION, PROGRAM COUNSEL AND DESIGN, START-UP SERVICES, AND OTHERS. FOR THESE SERVICES, THE ORGANIZATION RECEIVES A FEE OF BETWEEN 8-10% OF PUBLIC PER-PUPIL REVENUE, DEPENDING ON THE YEAR OF OPERATION OF THE SCHOOL. THE ORGANIZATION PERMITS THE SCHOOLS TO SECURE HIGHER QUALITY SERVICES THAN THEY COULD ON THEIR OWN AT A RATE SUBSIDIZED BY PHILANTHROPY TO THE ORGANIZATION. THE ORGANIZATION IS ACTIVELY INVOLVED IN TEACHER TRAINING AND TEACHER RECRUITMENT AS WELL. THE ORGANIZATION NOW HAS A STAFF OF APPROXIMATELY 157 INDIVIDUALS, HAS AN ACTIVE WEBSITE (WWW.UNCOMMONSCHOOLS.ORG), AND A NATIONAL REPUTATION AS A LEADING CHARTER SCHOOLS NETWORK WORKING ON SIGNIFICANT NATIONAL ISSUES, SUCH AS CLOSING THE "ACHIEVEMENT GAP."(SEE NEW YORK TIMES MAGAZINE, NOVEMBER 26, 2006.) FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION'S FEDERAL FORM 990 WAS PROVIDED TO THE FINANCE COMMITTEE OF UNCOMMON SCHOOLS, INC. FOR REVIEW BY ITS MEMBERS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS"). FOLLOWING THIS REVIEW THE FORM 990 WAS PROVIDED TO EACH VOTING MEMBER OF THE ORGANIZATION'S GOVERNING BODY, ITS BOARD OF DIRECTORS, PRIOR TO FILING WITH THE IRS. THE ORGANIZATION'S BOARD OF DIRECTORS HAS DELEGATED TO ITS FINANCE COMMITTEE THE RESPONSIBILITY TO OVERSEE, REVIEW AND APPROVE OF THE FEDERAL FORM 990, INCLUDING THE PREPARATION, REVIEW AND FILING PROCESS. AS PART OF THE TAX RETURN PREPARATION PROCESS THE ORGANIZATION HIRED A PROFESSIONAL CPA FIRM WITH EXPERIENCE AND EXPERTISE IN NOT-FOR-PROFIT TAX RETURN PREPARATION TO PREPARE THE FEDERAL FORM 990. THE CPA FIRM'S TAX PROFESSIONALS WORKED CLOSELY WITH THE ORGANIZATION'S FINANCE PERSONNEL AND VARIOUS OTHER INDIVIDUALS OF THE ORGANIZATION TO OBTAIN THE INFORMATION NEEDED IN ORDER TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE CPA FIRM PREPARED A DRAFT FEDERAL FORM 990 AND FURNISHED IT TO THE ORGANIZATION'S FINANCE PERSONNEL AND OTHER INDIVIDUALS FOR THEIR REVIEW. THE ORGANIZATION'S FINANCE PERSONNEL AND OTHER INDIVIDUALS REVIEWED THE DRAFT FEDERAL FORM 990 AND DISCUSSED QUESTIONS AND COMMENTS WITH THE CPA FIRM. REVISIONS WERE MADE TO THE DRAFT FEDERAL FORM 990 WHERE NECESSARY AND A FINAL DRAFT WAS FURNISHED BY THE CPA FIRM TO THE ORGANIZATION'S FINANCE PERSONNEL AND VARIOUS OTHER INDIVIDUALS FOR FINAL REVIEW AND APPROVAL PRIOR TO PRESENTATION OF THE FEDERAL FORM 990 TO THE MEMBERS OF THE ORGANIZATION'S FINANCE COMMITTEE AND PROVIDING IT TO EACH VOTING MEMBER OF ITS GOVERNING BODY PRIOR TO FILING WITH THE IRS. 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 ARE REQUIRED TO REVIEW THE EXISTING CONFLICT OF INTEREST POLICY AND COMPLETE A QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION'S CHIEF FINANCIAL OFFICER FOR REVIEW. THEREAFTER, THE CHIEF FINANCIAL OFFICER PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES WHICH CONTAINS INFORMATION DISCLOSED ON AN INDIVIDUAL BY INDIVIDUAL BASIS. THE CHIEF FINANCIAL OFFICER THEN PRESENTS THIS SUMMARY TO THE ORGANIZATION'S BOARD OF DIRECTORS FOR ITS REVIEW AND DISCUSSION AND ANY MITIGATING BEHAVIOR WHERE NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S BOARD OF DIRECTORS HAS A COMPENSATION COMMITTEE "COMMITTEE"). THE COMMITTEE HAS COMPLETED A COMPARATIVE ANALYSIS OF SIMILAR ORGANIZATIONS WHICH IT USES AS GUIDANCE WHEN IT REVIEWS AND APPROVES OF THE COMPENSATION AND BENEFITS OF THE ORGANIZATION'S SENIOR MANAGEMENT, INCLUDING THE CHIEF EXECUTIVE OFFICER, CHIEF OPERATING OFFICERS, CHIEF FINANCIAL OFFICER AND ALL MANAGING DIRECTORS. THE COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE INDIVIDUALS WHICH IS INTENDED TO INCLUDE BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE COMMITTEE'S REVIEW IS DONE ON AT LEAST AN ANNUAL BASIS AND ENSURES THAT THE "TOTAL COMPENSATION" OF SENIOR MANAGEMENT OF THE ORGANIZATION IS REASONABLE. THE ACTIONS TAKEN BY THE COMMITTEE ENABLE THE ORGANIZATION TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR PURPOSES OF INTERNAL REVENUE CODE SECTION 4958 WITH RESPECT TO THE TOTAL COMPENSATION OF CERTAIN MEMBERS OF THE SENIOR MANAGEMENT TEAM, INCLUDING THE CHIEF EXECUTIVE OFFICER, CHIEF OPERATING OFFICERS, CHIEF FINANCIAL OFFICER, CHIEF INFORMATION OFFICER AND ALL MANAGING DIRECTORS. 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 COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS EACH OF WHO ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. THE COMMITTEE RELIED UPON APPROPRIATE COMPARABLE DATA; SPECIFICALLY THE COMMITTEE UTILIZES INDUSTRY COMPARABLES AND PERFORMS IN-HOUSE STUDIES OF EXECUTIVE COMPENSATION WITH ASSISTANCE FROM NEWSCHOOLS VENTURE FUND. THE COMMITTEE ADEQUATELY DOCUMENTED ITS BASIS FOR ITS DETERMINATION THROUGH THE TIMELY PREPARATION OF WRITTEN MINUTES OF THE COMPENSATION COMMITTEE MEETINGS DURING WHICH THE EXECUTIVE COMPENSATION AND BENEFITS WAS REVIEWED AND SUBSEQUENTLY APPROVED. THE ACTIONS OUTLINED ABOVE WITH RESPECT TO THE COMMITTEE AND THE ESTABLISHMENT OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS ONLY APPLIES TO CERTAIN SENIOR MANAGEMENT PERSONNEL, INCLUDING THE CHIEF EXECUTIVE OFFICER, CHIEF OPERATING OFFICERS, CHIEF FINANCIAL OFFICER AND ALL MANAGING DIRECTORS. THE COMPENSATION AND BENEFITS OF CERTAIN OTHER INDIVIDUALS DISCLOSED IN THIS FORM 990 ARE REVIEWED ANNUALLY BY THE CHIEF EXECUTIVE OFFICER WITH ASSISTANCE FROM THE ORGANIZATION'S HUMAN RESOURCES DEPARTMENT IN CONJUNCTION WITH THE ORGANIZATION'S BUDGET PROCESS AND INDIVIDUAL'S JOB RESPONSIBILITIES DURING THE YEAR AND IS BASED UPON OTHER OBJECTIVE FACTORS DESIGNED TO ENSURE THAT REASONABLE AND FAIR MARKET VALUE COMPENSATION IS PAID BY THE ORGANIZATION. OTHER OBJECTIVE FACTORS INCLUDE MARKET SURVEY DATA FOR COMPARABLE POSITIONS, INDIVIDUAL GOALS AND OBJECTIVES, PERSONNEL REVIEWS, EVALUATIONS, SELF-EVALUATIONS AND PERFORMANCE FEEDBACK MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND CONSOLIDATED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: FORGIVENESS OF DEBT 537,500. FORM 990, PART XII, LINE 3B: AN INDEPENDENT AUDIT FIRM CONDUCTED THE REQUIRED AUDIT SET FORTH IN THE SINGLE AUDIT AND OMB CIRCULAR A-133. UNCOMMON PROPERTIES II LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463008952 REAL ESTATE NJ 388456 6167933 UNCOMMON PROPERTIES LLC UNCOMMON PROPERTIES III LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463867110 REAL ESTATE NJ 1082741 36648697 UNCOMMON PROPERTIES LLC UNCOMMON PROPERTIES IV LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 464063985 REAL ESTATE NJ 459188 5113926 UNCOMMON PROPERTIES LLC NSA 10 WASHINGTON LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE NJ 848587 7698640 UNCOMMON PROPERTIES LLC NSA CENTRAL AVENUE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE DE 1987149 22421147 UNCOMMON PROPERTIES LLC UNCOMMON CROWN HEIGHTS LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE NJ 1010678 204154 UNCOMMON PROPERTIES LLC NSA CLINTON AVENUE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE NJ 453483 9583271 UNCOMMON PROPERTIES LLC NSA HAZELWOOD LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE NJ 688195 36060048 UNCOMMON PROPERTIES LLC NSA 559 BROAD STREET LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 462996274 REAL ESTATE NJ 309620 10558037 UNCOMMON PROPERTIES LLC TRUE NORTH ROCHESTER REAL ESTATE AMES STREET LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE NY 130688 1400080 UNCOMMON PROPERTIES LLC TRUE NORTH ROCHESTER REAL ESTATE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE DE 165947 946642 UNCOMMON PROPERTIES LLC TRUE NORTH PARKING LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE DE 10000 UNCOMMON PROPERTIES LLC TRUE NORTH TROY REAL ESTATE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE NY 0 46108 UNCOMMON PROPERTIES LLC TRUE NORTH TYLER STREET LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE NY 506100 5310129 UNCOMMON PROPERTIES LLC ROCHESTER CHILI AVENUE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE NJ 0 0 UNCOMMON PROPERTIES LLC NSA S 9TH STREET LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463043354 REAL ESTATE NJ 0 6500 UNCOMMON PROPERTIES LLC TRUE NORTH WEST REAL ESTATE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE NY 0 8000 UNCOMMON PROPERTIES LLC UNCOMMON PROPERTIES LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE DE 244684 1467188 UNCOMMON SCHOOLS INC EXCELLENCE ACADEMIES FOUNDATION INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 010790110 SUPPORT SERVICES DE 501C3 LINE 11 NONE 0 UNCOMMON LENDER INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 263594129 LENDING SERVICES NJ 501C3 LINE 7 NONE 0 UNCOMMON NSA LENDER LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 263594129 LENDING SERVICES NJ UNCOMMON LENDER IS S LINE 7 UNCOMMON LENDER INC 0 UNCOMMON NSA LENDER II LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 263594129 LENDING SERVICES NJ UNCOMMON LENDER IS S LINE 7 UNCOMMON LENDER INC 0 UNCOMMON NSA LENDER III LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 611724112 LENDING SERVICES NJ UNCOMMON LENDER IS S LINE 7 UNCOMMON LENDER INC 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 EXCELLENCE ACADEMIES FOUNDATION INC O 50000 FAIR VALUE UNCOMMON LENDER INC B 4387878 FAIR VALUE UNCOMMON LENDER INC D 607523 FAIR VALUE UNCOMMON LENDER INC O 168852 FAIR VALUE UNCOMMON LENDER INC P 1503828 FAIR VALUE