2015-04-13T13:46:38-05:00 2014-08-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2013-09-01 237173492 A BETTER CHANCE INC ABET 6463461310 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 SANDRA E TIMMONS PRESIDENT 6463461310 2015-04-13 1 ROBERT LYONS CPA P00227472 2125038800 2013 2016-02-25 16:41:14Z SANDRA E TIMMONS 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 6969254 0 X WWW.ABETTERCHANCE.ORG X 1971 MA A BETTER CHANCE HAS BEEN OPENING THE DOOR TO GREATER EDUCATIONAL OPPORTUNITIES SINCE 1963.A BETTER CHANCE IS THE OLDEST AND ONLY NATIONAL ORGANIZATION OF ITS KIND CHANGING THE LIFE TRAJECTORY FOR ACADEMICALLY TALENTED YOUTH OF COLOR VIA ACCESS TO RIGOROUS AND PRESTIGIOUS EDUCATIONAL OPPORTUNITIES FOR STUDENTS IN GRADES 6-12. OUR MISSION IS TO INCREASE SUBSTANTIALLY THE NUMBER OF WELL-EDUCATED YOUNG PEOPLE OF COLOR WHO ARE CAPABLE OF ASSUMING POSITIONS OF RESPONSIBILITY AND LEADERSHIP IN AMERICAN SOCIETY. WE CARRY OUT OUR MISSION THROUGH OUR SIGNATURE COLLEGE PREPARATORY SCHOOLS PROGRAM ("CPSP"), WHICH ANNUALLY RECRUITS, REFERS AND SUPPORTS ABOUT 500 SCHOLARS AT MORE THAN 300 MEMBER SCHOOLS IN 27 STATES. 15 14 40 175 0 0 5344224 4179989 200878 263715 1164251 751614 6932 6281 6716285 5201599 73447 74900 0 0 2010142 2078811 0 56392 1015847 2044036 1991881 4127625 4201984 2588660 999615 15962382 17447547 2559031 2094617 13403351 15352930 TO INCREASE SUBSTANTIALLY THE NUMBER OF WELL-EDUCATED YOUNG PEOPLE OF COLOR WHO ARE CAPABLE OF ASSUMING POSITIONS OF RESPONSIBILITY AND LEADERSHIP IN AMERICAN SOCIETY. 0 0 2769893 74900 263715 IN FISCAL YEAR 2014, A BETTER CHANCE RECEIVED 2420 APPLICATIONS, 631 ACCEPTANCES, AND 474 PLACEMENTS. THE ORGANIZATION INTERVIEWED 921 CANDIDATES AND HOSTED 6 SCHOOL FAIRS IN LOS ANGELES, OAKLAND, ATLANTA, PHILADELPHIA, WASHINGTON DC, AND NEW YORK AT WHICH OVER 1000 STUDENTS AND 100 MEMBER SCHOOLS PARTICIPATED. OUR APPLICANTS RECEIVED FEE WAIVERS VALUED AT MORE THAN $155,000. THE ORGANIZATION ALSO LED MORE THAN 15 REFERRAL NIGHTS, FINISHING STRONG, AND FINANCIAL AID WORKSHOPS WHICH ARE USED TO HELP APPLICANTS AND FAMILIES NAVIGATE AND UNDERSTAND THE PROCESS BETTER. 2769893 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 26 0 40 1 0 0 0 0 0 1 1 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AK AL AR AZ CA CO CT DC FL GA IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN VA WA WI WV HI X TAHIRA WEST 6463461354 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 MS SANDRA E TIMMONS PRESIDENT 37.50 X X 190346 0 20550 MR RONALD R PRESSMAN CHAIRPERSON 2.00 X X 0 0 0 MR TIM C MCCHRISTIAN VICE-CHAIR 2.00 X X 0 0 0 MR PETER ALLAN ATKINS DIRECTOR 2.00 X 0 0 0 MR JOHN P COSTAS DIRECTOR 2.00 X 0 0 0 MR GREGG A GONSALVES DIRECTOR (FORMER) 2.00 X 0 0 0 MS CARLA A HARRIS DIRECTOR 2.00 X 0 0 0 MS TRACEY G RIESE DIRECTOR 2.00 X 0 0 0 MR KURT VAN WAGENEN DIRECTOR 2.00 X 0 0 0 MR A LOUIS PARKER DIRECTOR 2.00 X 0 0 0 MR STEVEN S ROGERS DIRECTOR 2.00 X 0 0 0 MS SUSAN CHAPMAN DIRECTOR 2.00 X 0 0 0 MR GREGORY T DURANT DIRECTOR 2.00 X 0 0 0 MR HENRY LAVINE DIRECTOR (FORMER) 2.00 X 0 0 0 MR DMITRI STOCKTON DIRECTOR 2.00 X 0 0 0 MR GREGORY ROBINSON DIRECTOR (FORMER) 2.00 X 0 0 0 MS ELLANOR BRIZENDINE DIRECTOR 2.00 X 0 0 0 MS JILLIAN E JOSEPH DIRECTOR 2.00 X 0 0 0 MS TAHIRA WEST DIR. OF FINANCE & ADMIN 37.50 X 16052 0 1504 MS NICOLE BOUKNIGHT-JOHNSON DIRECTOR OF DEVELOPMENT 37.50 X 0 0 0 MS CHANTAL STEVENS NATIONAL DIRECTOR, CPSP 37.50 X 89259 0 16450 MS LINDA ASHFIELD CFO (FORMER) 37.50 X 93573 0 7252 389230 0 45756 1 0 1 0 0 1038097 3141892 9915 4179989 SCHOOL MEMBERSHIP DUES 611600 137839 137839 REGISTRATION FEES 900099 125876 125876 263715 277829 277829 6281 6281 2155505 1681720 473785 473785 473785 85935 1038097 85935 0 5201599 263715 0 757895 X 74900 74900 529350 319520 87652 122178 1215263 948297 88850 178116 57131 43926 4763 8442 128664 95431 10872 22361 148403 108663 14499 25241 29501 29501 56392 56392 65888 65888 540948 233307 307641 129602 51754 18818 59030 348323 258983 32177 57163 547633 474802 12510 60321 41662 29728 4942 6992 12380 11400 360 620 27633 20113 2771 4749 MISCELLANEOUS 90940 42166 29624 19150 EQUIPMENT PURCHASES 49382 34174 4884 10324 RECRUITING 45231 1785 116 43330 SUBSCRIPTION AND DUES 38534 14826 8017 15691 24224 6118 18106 4201984 2769893 416244 1015847 173240 37585 2182409 2841783 30416 31568 104698 23837 17163 80861 12534173 13337394 1024981 1118356 15962382 17447547 237631 265690 159400 179927 2162000 1649000 2559031 2094617 X -2197060 -1981470 3492974 5126088 12107437 12208312 13403351 15352930 15962382 17447547 X 999615 927195 22769 X X 0 1 X 1 0 X 2282368 2589493 2174235 5408780 4179989 16634865 2282368 2589493 2174235 5408780 4179989 16634865 803966 15830899 330028 287290 280528 306283 284110 1488239 3263 1102 4365 18127469 2378035 0.87330 0.88050 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13112925 7500 213150 579000 12754575 13092291 200000 662086 841452 13112925 12618108 379519 761935 667271 13092291 11773455 916587 71934 12618108 11476697 364415 -67657 11773455 0.00590 0.86950 0.12460 1 0 47251 8900 38351 57447 14937 42510 80861 BENEFICIAL INTEREST IN PERPETUAL TRUST 1118356 1118356 X 6377878 927195 221597 93375 1242167 5135711 65888 65888 5201599 4428299 221597 70606 292203 4136096 65888 65888 4201984 PART V, LINE 4: THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE FOR OPERATIONAL PURPOSES. PART X, LINE 2: THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS AS OF AUGUST 31, 2014 AND 2013, IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. THE ORGANIZATION IS NO LONGER SUBJECT TO FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS ENDED BEFORE AUGUST 31, 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 93,375. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 70,606. X X X X X 1 STETWIN CONSULTING 355 LEXINGTON AVENUE 15TH FLOOR NEW YORK NY 10017 ANNUAL AWARDS EVENT 0 1124032 56392 1124032 1124032 56392 1124032 AK AL AR AZ CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV GALA 1124032 1038097 85935 85935 1124032 1038097 85935 85935 85935 0 1 SCHOLARSHIP AWARDS AND RESIDENTIAL ASSISTANCE 65 74900 N/A N/A PART I, LINE 2: FOR ALL SAFETY NET AWARDS, WE ISSUE CHECKS DIRECTLY TO THE ORGANIZATION OR SCHOOL SPONSORING THE PROGRAM, SUCH AS A STUDY-ABROAD PROGRAM OR SCHOOL TRIP. FOR ALL SCHOLARSHIP AWARDS GIVEN DIRECTLY TO THE STUDENTS (SUCH AS A BETTER CHANCE AWARDS GIVEN AT THE ANNUAL LUNCHEON), 1099'S ARE ISSUED TO ANYONE RECEIVING MORE THAN A TOTAL OF $600. X 0 0 0 0 0 0 0 0 0 MS SANDRA E TIMMONS PRESIDENT 190346 0 0 0 0 0 14315 0 6235 0 210896 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WILL BE REVIEWED BY MANAGEMENT AND THEN BE SENT TO MEMBERS OF THE FINANCE COMMITTEE. THE FINANCE COMMITTEE WILL BE GIVEN A MINIMUM OF ONE WEEK TO REVIEW AND COMMENT ON THE FORM 990. THE RETURN WILL BE SENT TO ALL BOARD MEMBERS. BOARD MEMBERS WILL BE GIVEN A MINIMUM OF ONE WEEK TO REVIEW AND COMMENT BEFORE THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY FORM IS REQUIRED TO BE SIGNED EVERY YEAR BY THE BOARD AND SENIOR MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE ANNUAL PERFORMANCE REVIEW IS AN IMPORTANT PART OF THE EMPLOYEE DEVELOPMENT PROCESS. IT SERVES THE FOLLOWING PURPOSES: TO ALIGN SUPERVISOR AND EMPLOYEE EXPECTATIONS TO ASSESS PERFORMANCE AGAINST MUTUALLY AGREED-UPON GOALS AND OBJECTIVES TO ESTABLISH AN ACTION PLAN THAT WILL ALLOW FOR PROFESSIONAL DEVELOPMENT ALL FULL-TIME EMPLOYEES CURRENTLY ON THE A BETTER CHANCE STAFF WHO HAVE COMPLETED AT LEAST THREE FULL MONTHS OF EMPLOYMENT ARE REVIEWED ANNUALLY AT THE END OF THE FISCAL YEAR TO ASSESS THE WORK PERFOMANCE DURING THAT YEAR. THE BOARD OF DIRECTORS REVIEW AND APPROVE THE COMPENSATION TO THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 233,307. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 307,641. TOTAL EXPENSES 540,948. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 93,375. BAD DEBT EXPENSE -70,606. FORM 990, PART XI LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT HAS NOT BEEN CHANGED FROM THE PRIOR YEAR.