2015-08-14T20:24:53-05:00 2014-12-31 952242818 VICENTI LLOYD & STUTZMAN 2210 E ROUTE 66 STE 100 GLENDORA CA 917404676 990 2014-01-01 200696786 PACIFIC CHARTER SCHOOL DEVELOPMENT PACI 2135424700 811 W 7TH STREET ROOM/SUITE 310 LOS ANGELES CA 90017 SCOTT THOMAS CFO 2135424700 2015-08-10 true DERRICK DEBRUYNE CPA P00591016 6268577300 2015-08-14 2014 2016-04-25 22:37:26Z SCOTT THOMAS 811 W 7TH STREET STE 310 LOS ANGELES CA 90017 7558183 false X WWW.PACIFICCHARTER.ORG X 2004 CA PACIFIC CHARTER SCHOOL DEVELOPMENT IS A NON-PROFIT REAL ESTATE DEVELOPMENT ORGANIZATION PROVIDING LOW-COST FACILITIES TO HIGH-QUALITY CHARTER SCHOOLS. 6 5 16 0 1078182 4124433 4532859 3120507 571738 33233 10973 280010 6193752 7558183 3248251 0 1461516 2012152 0 117087 3593394 2730373 5054910 7990776 1138842 -432593 56986674 55927416 42726314 42099649 14260360 13827767 X PACIFIC CHARTER SCHOOL DEVELOPMENT IS A NON-PROFIT REAL ESTATE DEVELOPMENT ORGANIZATION PROVIDING LOW-COST FACILITIES TO HIGH-QUALITY CHARTER SCHOOLS. false false 7236205 3248251 3120507 PACIFIC CHARTER SCHOOL DEVELOPMENT (PCSD) IS ACCELERATING THE PACE OF URBAN SCHOOL REFORM AS A NON-PROFIT DEVELOPER FOR PUBLIC CHARTER SCHOOL FACILITIES. BY PARTNERING WITH SOME OF THE NATION'S HIGHEST PERFORMING ORGANIZATIONS THAT OPERATE SCHOOLS SERVING LOW-INCOME STUDENTS, WE ARE HELPING THESE GROUPS EXPAND AND SERVE MORE FAMILIES. WE CREATE SMALL, ACADEMICALLY-FRIENDLY, SUSTAINABLE AND ENVIRONMENTALLY-RESPONSIBLE CHARTER SCHOOL CAMPUSES AT A FRACTION OF THE "COST-PER-SEAT" INCURRED BY TRADITIONAL PUBLIC SCHOOL SYSTEMS. IN OUR FIRST TEN YEARS OF SCHOOL OPENINGS, PCSD HAS SERVED 52 SCHOOLS ON 40 CAMPUSES, DEVELOPING 20,580 STUDENT SEATS. AT EACH PCSD CAMPUS EXCEPT ONE, AT LEAST 75% OF THE STUDENTS RECEIVE FREE OR REDUCED-PRICE MEALS THROUGH THE FEDERAL NATIONAL SCHOOL LUNCH PROGRAM. PCSD BUILDS PUBLIC CHARTER SCHOOLS THAT PROVIDE SMALLER, MORE CUSTOMIZED LEARNING ENVIRONMENTS THAT ARE YIELDING SUPERIOR ACADEMIC RESULTS. CHARTER SCHOOLS ARE FREE PUBLIC SCHOOLS. ADMISSION IS OPEN TO ALL AND DETERMINED BY AN UNBIASED LOTTERY OF THE APPLICANTS TO THE SCHOOL. THE DEMAND FOR CHARTER SCHOOLS CONTINUES TO GROW AS MORE PARENTS BECOME AWARE OF THIS OPPORTUNITY FOR THEIR CHILDREN. PCSD IS AT THE FOREFRONT OF MAKING THIS TRANSFORMATIVE CHANGE IN K-12 PUBLIC EDUCATION. VIA THE PROJECT DEVELOPMENT PROCESS, PCSD HELPS SCHOOLS OVERCOME TREMENDOUS BARRIERS TO FIND, FINANCE, ENTITLE, BUILD AND SECURE FACILITIES. PCSD'S DEVELOPMENT FEE, AT 5% OF PROJECT COST, IS BELOW MARKET. AS A LANDLORD, PCSD CHARGES A BELOW-MARKET RENT. WHEN EACH CHARTER SCHOOL TENANT REACHES A STATE OF MATURITY DEFINED BY METRICS INVOLVING ACADEMIC AND FINANCIAL PERFORMANCE AND COMMUNITY SUPPORT, PCSD WORKS WITH EACH SCHOOL'S LEADERSHIP TEAM TO SECURE LONG-TERM FINANCING TO SUPPORT THE PURCHASE OF THEIR CAMPUSES AT COST FROM PCSD. IN DOING SO, CHARTER SCHOOLS ACQUIRE REAL ASSETS AND LONG-TERM BALANCE SHEET STABILITY WHILE PCSD RECYCLES COMMITTED EQUITY SO EACH PHILANTHROPIC DOLLAR GENERATES ADDITIONAL CHARTER SCHOOL SEATS MANY TIMES OVER. PCSD'S PARTNERS CONTINUE TO INCLUDE SOME OF THE LEADING FOUNDATIONS INVOLVED IN URBAN EDUCATION REFORM: THE AHMANSON FOUNDATION, BROAD FOUNDATION, WALTON FAMILY FOUNDATION AND WEINGART FOUNDATION. THESE ORGANIZATIONS HAVE BEEN ABLE TO SEED THE ACTIVITIES OF PCSD WITH LARGE ENOUGH SUPPORT TO JUMPSTART PCSD'S CAPITAL INTENSIVE BUSINESS MODEL. 7236205 true true false false false false false false false false true false false false true true false true false false false false false false false false false true false true false false false false false false false true false false false false true true false false false true 45 0 true 16 true false false false false false false false false false false X 6 5 false false false false false false false true true false false true true true true false false true true false CA X APRIL CANG 2135424706 811 W 7TH STREET NO 310 STE 310 LOS ANGELES CA 90017 ELI KENNEDY FMR. CHIEF E 38.00 2.00 X X 104305 0 4204 REGGIE GILYARD BOARD MEMBER 1.00 1.00 X 0 0 0 RICH BILLINGS BOARD MEMBER 1.00 1.00 X 0 0 0 ERIC JOHNSON BOARD MEMBER 1.00 1.00 X 0 0 0 PAUL HABIBI BOARD MEMBER 1.00 1.00 X 0 0 0 ERIC SUSSMAN BOARD MEMBER 1.00 1.00 X 0 0 0 JOHN SUN CHIEF EXECUT 38.00 2.00 X 208014 0 25893 SCOTT THOMAS CHIEF FINANC 39.00 1.00 X 169475 0 25784 PATRICK A ONTIVEROS GENERAL COUN 38.00 2.00 X 145467 0 5918 MARY KATE HIRSH CHIEF OPERAT 38.00 2.00 X 137766 0 5611 JAMES HEUGAS SR. PROJECT 40.00 X 135819 0 18803 LINDSAY PHILLIPS SR. PROJECT 40.00 X 126060 0 9952 HOPE FANG SR. PROJECT 40.00 X 107906 0 22888 1134812 119053 8 false true false DEL AMO CONSTUCTION INC 23840 MADISON STREET TORRANCE CA 90505 CONSTRUCTION 2644434 BLACKWELL CONSTRUCTION 12345 VENTURA BLVD SUITE H STUDIO CITY CA 91604 CONSTRUCTION 1431070 BCRA DESIGN 2106 PACIFIC AVE SUITE 300 TACOMA WA 98402 DESIGN 446983 STUDIO G ARCHITECTS 179 BOYLSTON ST BUILDING P JAMAICA PLAIN MA 02130 DESIGN 376850 OSBORN ARCHITECTS 3951 MEDFORD ST LOS ANGELES CA 90063 DESIGN 258211 16 4124433 4124433 RENTAL & MGMT INCOME 2804589 2804589 DEVELOPMENT FEES 648991 648991 INV. GAIN-NOTES RECEIVABLE -333073 -333073 3120507 33233 33233 MISCELLANEOUS 280010 280010 280010 7558183 3120507 313243 3248251 3248251 483371 362528 96674 24169 1267988 950991 253598 63399 27274 20455 5455 1364 109888 82416 21978 5494 123631 92723 24726 6182 35645 7129 28516 59961 44971 11992 2998 265224 248909 13052 3263 50195 40873 7468 1854 15908 12726 3023 159 308443 277064 26855 4524 148311 140869 4961 2481 8210 8210 812078 812078 636534 636534 128893 64447 64446 STARTUP COSTS 188241 188241 TRAINING & DEVELOPMENT 33333 33333 MEALS & ENTERTAINMENT 30522 5000 24322 1200 MISC. EXPENSES 7665 7665 1210 1210 7990776 7236205 637484 117087 1393779 905851 20232909 13727399 220000 1433747 371323 800933 11028801 12780085 446757 41734 28358558 2421343 23135313 25937215 157792 300452 56986674 55927416 254031 525507 16673623 16515376 25150000 24400000 648660 658766 42726314 42099649 X 13508438 12131076 751922 1696691 14260360 13827767 56986674 55927416 -432593 X false true X true false X 860754 355510 1078182 4124433 6418879 860754 355510 1078182 4124433 6418879 5549464 869415 28423 143927 14605 36965 33233 257153 31326 8502 8692 10973 339503 398996 7075028 3120507 0.12290 0.16060 X PACIFIC CHARTER SCHOOL DEVELOPMENT (PCSD) MEETS THE TEN-PERCENT-OF-SUPPORT REQUIREMENT FOR THE FOUR TAX YEARS IMMEDIATELY BEFORE THE CURRENT YEAR AND UNDER ALL THE FACTS AND CIRCUMSTANCES, NORMALLY RECEIVES A SUBSTANTIAL PART OF ITS SUPPORT FROM DIRECT OR INDIRECT CONTRIBUTIONS FROM THE GENERAL PUBLIC. THE ORGANIZATION IS ALSO IN THE NATURE OF A PUBLICLY SUPPORTED ORGANIZATION. IT HAS A GOVERNING BODY THAT REPRESENTS THE BROAD INTERESTS OF THE PUBLIC, CONSISTING OF PERSONS HAVING SPECIAL KNOWLEDGE OR EXPERTISE IN THE PARTICULAR FIELD OR DISCIPLINE IN WHICH THE ORGANIZATION IS OPERATING. ADDITIONALLY, IT PROVIDES FACILITIES OR SERVICES DIRECTLY FOR THE BENEFIT OF THE CHARTER SCHOOLS AND THE GENERAL PUBLIC ON A CONTINUING BASIS. PART II, LINE 10 MISCELLANEOUS 398,996 PART II, LINE 17A PACIFIC CHARTER SCHOOL DEVELOPMENT (PCSD) MEETS THE TEN-PERCENT-OF-SUPPORT REQUIREMENT FOR THE FOUR TAX YEARS IMMEDIATELY BEFORE THE CURRENT YEAR AND UNDER ALL THE FACTS AND CIRCUMSTANCES, NORMALLY RECEIVES A SUBSTANTIAL PART OF ITS SUPPORT FROM DIRECT OR INDIRECT CONTRIBUTIONS FROM THE GENERAL PUBLIC. THE ORGANIZATION IS ALSO IN THE NATURE OF A PUBLICLY SUPPORTED ORGANIZATION. IT HAS A GOVERNING BODY THAT REPRESENTS THE BROAD INTERESTS OF THE PUBLIC, CONSISTING OF PERSONS HAVING SPECIAL KNOWLEDGE OR EXPERTISE IN THE PARTICULAR FIELD OR DISCIPLINE IN WHICH THE ORGANIZATION IS OPERATING. ADDITIONALLY, IT PROVIDES FACILITIES OR SERVICES DIRECTLY FOR THE BENEFIT OF THE CHARTER SCHOOLS AND THE GENERAL PUBLIC ON A CONTINUING BASIS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4500000 4500000 23802041 2421343 21380698 56517 56517 25937215 SECURITY DEPOSITS 527875 DEFERRED LEASE LIABILITY 130891 658766 X SCHEDULE D, PAGE 3, PART X PCSD HAS EVALUATED ITS TAX POSITIONS AND THE CERTAINTY AS TO WHETHER THOSE POSITIONS WILL BE SUSTAINED IN THE EVENT OF AN AUDIT BY TAXING AUTHORITIES AT THE FEDERAL AND STATE LEVELS. THE PRIMARY TAX POSITIONS EVALUATED ARE RELATED TO PCSD'S CONTINUED QUALIFICATIONS AS A TAX-EXEMPT ORGANIZATION AND WHETHER THERE ARE UNRELATED BUSINESS INCOME ACTIVITIES CONDUCTED THAT WOULD BE TAXABLE. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. true PACIFIC CHARTER FACILITIES HOLDING 811 7TH STREET SUITE 310 LOS ANGELES CA 90017 371763937 501C3 1248251 FMV CAPITAL CONTRIBUTION WASHINGTON CHARTER SCHOOL DEVELOPME 210 S HUDSON STREET SUITE 330 SEATTLE WA 98134 471346473 501C3 2000000 FMV CAPITAL CONTRIBUTION 2 SCHEDULE I, PAGE 1, PART I, LINE 2 ALL GRANTS ARE FOR DEVELOPMENT OF CHARTER SCHOOL FACILITIES IN THE UNITED STATES OF AMERICA. X X false false false false false false false false false JOHN SUN CHIEF EXECUTIVE OFFI 188014 20000 8321 17572 233907 SCOTT THOMAS CHIEF FINANCIAL OFFI 161375 8100 6508 19276 195259 PATRICK A ONTIVEROS GENERAL COUNSEL 136227 9240 5819 99 151385 JAMES HEUGAS SR. PROJECT MANAGER 123419 12400 5433 13370 154622 JAMES WILLCOX PCSD FORMER BOA 3001188 PROMISSORY NOTE false SCHEDULE L, PART V (A) NAME OF PERSON: JAMES WILLCOX (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: PCSD FORMER BOARD MEMBER AND CEO OF ASPIRE PUBLIC SCHOOLS (C) AMOUNT OF TRANSACTION: 3,001,188 (D) DESCRIPTION OF TRANSACTION: PROMISSORY NOTE (E) SHARING OF ORGANIZATION REVENUES? = NO FORM 990, PAGE 2, PART III, LINE 4A SCHOOL LUNCH PROGRAM. PCSD BUILDS PUBLIC CHARTER SCHOOLS THAT PROVIDE SMALLER, MORE CUSTOMIZED LEARNING ENVIRONMENTS THAT ARE YIELDING SUPERIOR ACADEMIC RESULTS. CHARTER SCHOOLS ARE FREE PUBLIC SCHOOLS. ADMISSION IS OPEN TO ALL AND DETERMINED BY AN UNBIASED LOTTERY OF THE APPLICANTS TO THE SCHOOL. THE DEMAND FOR CHARTER SCHOOLS CONTINUES TO GROW AS MORE PARENTS BECOME AWARE OF THIS OPPORTUNITY FOR THEIR CHILDREN. PCSD IS AT THE FOREFRONT OF MAKING THIS TRANSFORMATIVE CHANGE IN K-12 PUBLIC EDUCATION. VIA THE PROJECT DEVELOPMENT PROCESS, PCSD HELPS SCHOOLS OVERCOME TREMENDOUS BARRIERS TO FIND, FINANCE, ENTITLE, BUILD AND SECURE FACILITIES. PCSD'S DEVELOPMENT FEE, AT 5% OF PROJECT COST, IS BELOW MARKET. AS A LANDLORD, PCSD CHARGES A BELOW-MARKET RENT. WHEN EACH CHARTER SCHOOL TENANT REACHES A STATE OF MATURITY DEFINED BY METRICS INVOLVING ACADEMIC AND FINANCIAL PERFORMANCE AND COMMUNITY SUPPORT, PCSD WORKS WITH EACH SCHOOL'S LEADERSHIP TEAM TO SECURE LONG-TERM FINANCING TO SUPPORT THE PURCHASE OF THEIR CAMPUSES AT COST FROM PCSD. IN DOING SO, CHARTER SCHOOLS ACQUIRE REAL ASSETS AND LONG-TERM BALANCE SHEET STABILITY WHILE PCSD RECYCLES COMMITTED EQUITY SO EACH PHILANTHROPIC DOLLAR GENERATES ADDITIONAL CHARTER SCHOOL SEATS MANY TIMES OVER. PCSD'S PARTNERS CONTINUE TO INCLUDE SOME OF THE LEADING FOUNDATIONS INVOLVED IN URBAN EDUCATION REFORM: THE AHMANSON FOUNDATION, BROAD FOUNDATION, WALTON FAMILY FOUNDATION AND WEINGART FOUNDATION. THESE ORGANIZATIONS HAVE BEEN ABLE TO SEED THE ACTIVITIES OF PCSD WITH LARGE ENOUGH SUPPORT TO JUMPSTART PCSD'S CAPITAL INTENSIVE BUSINESS MODEL. FORM 990, PAGE 6, PART VI, LINE 11B A DRAFT OF THE FORM 990 IS REVIEWED BY ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C WHENEVER THERE IS A REASON TO BELIEVE THAT A POTENTIAL CONFLICT OF INTEREST EXISTS, THE BOARD OF DIRECTORS REVIEWS THE ISSUE TO DETERMINE THE APPROPRIATE RESPONSE. IF A POTENTIAL CONFLICT OF INTEREST INVOLVES AN EMPLOYEE OTHER THAN THE PRESIDENT OR CEO, THE PRESIDENT AND CEO ARE RESPONSIBLE FOR REVIEWING THE MATTER, TAKING APPROPRIATE ACTION AND REPORTING THE MATTER TO THE BOARD CHAIR WITH THE RESULTS OF ANY ACTION TAKEN. IF A CONFLICT OF INTEREST ARISES BETWEEN PACIFIC CHARTER SCHOOL DEVELOPMENT AND AN INTERESTED PARTY, THE ORGANIZATION SHALL REFRAIN FROM ACTING UNTIL SUCH A TIME AS A PROPOSED ACTION, POLICY OR TRANSACTION HAS BEEN APPROVED BY THE DISINTERESTED MEMBERS OF THE BOARD. FORM 990, PAGE 6, PART VI, LINE 15A PCSD'S TOP MANAGEMENT, KEY EMPLOYEES AND OTHER OFFICERS HAVE ANNUAL COMPENSATION REVIEWS WHICH ARE THEN FOLLOWED BY A WRITTEN SUMMARY PREPARED BY THE CEO AND SHARED WITH EACH EMPLOYEE. FORM 990, PAGE 6, PART VI, LINE 15B PCSD'S TOP MANAGEMENT, KEY EMPLOYEES AND OTHER OFFICERS HAVE ANNUAL COMPENSATION REVIEWS WHICH ARE THEN FOLLOWED BY A WRITTEN SUMMARY PREPARED BY THE CEO AND SHARED WITH EACH EMPLOYEE. FORM 990, PAGE 6, PART VI, LINE 19 PCSD'S WEBSITE ALLOWS INTERESTED PARTIES TO CONTACT THE PRESIDENT & CEO FOR GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, TAX RETURNS AND CONFLICT OF INTEREST POLICIES AND PROCEDURES. PCSD GUARANTY POOL LLC 811 W 7TH STREET SUITE 310 LOS ANGELES CA 90017 200696786 PART VII CA 1000000 PCSD PCSD 3200 ADAMS LLC 811 W 7TH STREET SUITE 310 LOS ANGELES CA 90017 200696786 PART VII CA 1020000 13026693 PCSD PCSD EAST 27TH STREET LLC 811 W 7TH STREET SUITE 310 LOS ANGELES CA 90017 200696786 PART VII CA 140284 2580012 PCSD PCSD 1700 PICO BLVD LLC 811 W 7TH STREET SUITE 310 LOS ANGELES CA 90017 200696786 PART VII CA 520766 4194133 PCSD PCSD 165TH & MENLO LLC 811 W 7TH STREET SUITE 310 LOS ANGELES CA 90017 200696786 PART VII CA 36528 151338 PCSD NATIONAL EDUCATION NEW MARKET TAX CREDIT LLC 811 W 7TH STREET SUITE 310 LOS ANGELES CA 90017 901009646 PART VII DE PCSD PCSD 3640 1ST STREET LLC 811 W 7TH STREET SUITE 310 LOS ANGELES CA 90017 200696786 PART VII CA 175785 3521063 PCSD PCSD 12700 AVALON LLC 811 W 7TH STREET SUITE 310 LOS ANGELES CA 90017 200696786 PART VII CA 258675 9620420 PCSD PCSD PUT CALL LLC 811 W 7TH STREET SUITE 310 LOS ANGELES CA 90011 900806601 PART VII CA PCSD PCSD 4335 EAST VALLEY BLVD LLC 811 W 7TH STREET SUITE 310 LOS ANGELES CA 90011 200696786 PART VII CA PCSD PACIFIC CHARTER FACILITIES HOLDING 811 7TH STREET SUITE 310 LOS ANGELES CA 90017 371763937 SUPPORT OR CA 501C3 11A NA false WASHINGTON CHARTER SCHOOL DEVELOPME 210 S HUDSON STREET SUITE 330 SEATTLE WA 98134 471346473 SUPPORT OR DE 501C3 11A NA false false true false false false false false false false false false false false true false false false false false SCHEDULE R PART I, COLUMN B: PRIMARY ACTIVITY FOR ALL DISREGARDED ENTITIES LISTED IS TO DEVELOP FACILITIES FOR CHARTER SCHOOLS.