2014-02-14T16:24:28-06:00 2013-06-30 WithumSmithBrown PC 465 South St Ste 200 Morristown NJ 079606497 990 2012-07-01 311488698 UNCOMMON SCHOOLS INC % CAROLYN HACK UNCO 2128447905 C/O RHF 826 BROADWAY 9TH FLOOR Suite NEW YORK NY 10003 CAROLYN HACK 9738989494 2014-02-14 true Anthony J Panico 9738989494 2012 2015-11-30 17:44:51Z BRETT PEISER 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 45036791 false X WWW.UNCOMMONSCHOOLS.ORG X 1996 NY TO START AND MANAGE OUTSTANDING URBAN CHARTER PUBLIC SCHOOLS THAT CLOSE THE ACHIEVEMENT GAP AND PREPARE LOW-INCOME STUDENTS TO GRADUATE FROM COLLEGE. 11 10 141 0 92958 -147171 15573442 17764202 11271173 23263564 2099553 13832 3671663 3995193 32615831 45036791 8382853 8903065 0 0 9010807 9955199 0 0 559412 8781424 9717539 26175084 28575803 6440747 16460988 72579802 84833857 59615228 55315753 12964574 29518104 X 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 IS 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, true false 26899948 8903065 23286702 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. 26899948 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 true true false false false false false false false false false false false false true true true true false false true 43 0 true 141 true true true false false false false false false false false false X 11 10 false false false false false true true true true false false true true true true true true true true false NJ X CAROLYN HACK 2128447905 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 X NORMAN ATKINS 1.0 X X 0 0 0 DAVID COOPER 1.0 X 0 0 0 CHARLES HARRIS 1.0 X 0 0 0 PEARL ROCK KANE 1.0 X 0 0 0 GAURAV KAPADIA 1.0 X 0 0 0 ROBERT T KARR 1.0 X 0 0 0 DONALD R KATZ 1.0 X 0 0 0 RONDO MOSES 1.0 X 0 0 0 NEAL MOSZKOWSKI 1.0 X 0 0 0 JAMES A PEYSER 1.0 X 0 0 0 BRETT PEISER 55.0 X X 223984 25000 21000 CAROLYN HACK 55.0 X 196636 0 9895 SARA BATTERTON 55.0 X 118731 0 11811 DANA LEHMAN 55.0 X 194186 0 16375 PAUL BAMBRICK SANTOYO 55.0 X 192839 0 21057 JOSHUA PHILLIPS 55.0 X 190154 0 24945 JULIE KENNEDY 55.0 X 173388 0 22351 EMMA VADEHRA 55.0 X 149125 0 3600 BARBARA MARTINEZ 55.0 X 146045 0 16538 LAURA LEE MCGOVERN 55.0 X 141221 0 20990 TARA MARLOVITS 55.0 X 136734 0 25564 MICHAEL AMBRIZ 55.0 X 129584 0 10834 DAVID E RUDALL 0.0 X 137470 12500 0 2130097 37500 204960 30 true true false JEFFREY W BROWN AIA RIBA CONSULTING 50 STONELEIGH CIRCLE WATERTOWN MA 02472 ARCHITECTURE 145500 CASERTA CONCEPTS LLC 9 CAMBRIDGE COURT LARCHMONT NY 10538 IT 138950 SILHOUETTE ART ON VIDEO PO BOX 11052 ALBANY NY 122110052 VIDEO PRODUCTION 117647 3 X 277513 2753574 14733115 17764202 MANAGEMENT FEES 900099 10842656 10842656 LOAN FORGIVENESS 900099 10000000 10000000 PROFESSIONAL DEVELOPMENT & TRAINING FEES 611430 1611012 1611012 REAL ESTATE DEVELOPMENT INCOME 531390 140191 140191 OTHER PROGRAM SERVICE REVENUE 900099 599885 599885 69820 69820 23263564 13832 13832 0 0 3995193 3995193 0 3995193 92958 3902235 0 0 0 0 0 45036791 23193744 92958 3985887 8832265 8832265 70800 70800 0 0 1417352 1417352 0 7214675 6569528 190882 454265 155591 140291 5606 9694 528907 475070 19726 34111 638674 590732 19925 28017 0 42718 42718 84509 84509 0 0 0 335697 322641 13056 0 97323 88913 7632 778 328428 22626 305802 287035 243424 13606 30005 0 1067424 1057136 10288 284650 229280 55370 0 211287 152743 58544 2357236 2357236 0 1432528 1432528 70316 70316 LOSS-DEBT OBLIGATION REDEMPT. 2203783 2203783 0 0 TRAINING 491257 442710 48547 0 ADMINSTRATIVE EXPENSES 203728 48701 154319 708 OTHER EXPENSES 219620 202189 15597 1834 28575803 26899948 1116443 559412 X 0 0 13258334 23176678 1012731 3446100 4869556 4608287 75000 0 0 0 0 0 0 0 650200 650030 53374221 3570899 48737495 49803322 0 0 0 0 3885200 1959613 15250 0 76036 1189827 72579802 84833857 1455298 1352099 0 0 281800 0 0 0 0 0 0 0 57777090 53899595 0 0 101040 64059 59615228 55315753 X 12964574 29518104 0 0 0 0 12964574 29518104 72579802 84833857 16460988 92542 X X false true X true true true X 11383536 17106116 11602179 15573442 17764202 73429475 0 0 11383536 17106116 11602179 15573442 17764202 73429475 9080041 64349434 933931 302414 358365 376812 13832 1985354 0 0 75414829 51060170 0.85327 0.79644 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3018220 3018220 38368583 2524933 35843650 11129879 665260 10464619 857539 380706 476833 49803322 0 OTHER PAYABLES 64059 64059 X TEXT OF FIN 48 AUDITED FINANCIAL STATEMENT FOOTNOTE SCHEDULE D, PART X THE FIN 48 FOOTNOTE BELOW IS FROM THE ORGANIZATION'S CONSOLIDATED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2013: THE ORGANIZATION FOLLOWS THE RECOGNITION AND DISCLOSURE PROVISIONS OF THE ACCOUNTING STANDARD RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. UNDER THIS STANDARD, TAX POSITIONS ARE EVALUATED FOR RECOGNITION USING A MORE-LIKELY-THAN-NOT THRESHOLD, AND THOSE TAX POSITIONS REQUIRING RECOGNITION ARE MEASURED AT THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. THE ORGANIZATION HAS EVALUATED THE LIKELIHOOD OF ITS TAX POSITIONS BEING CHALLENGED AS REMOTE. ACCORDINGLY, THE ORGANIZATION HAS NOT INCLUDED ANY INCOME TAX PROVISIONS, INCLUDING INTEREST AND PENALTIES, IN THE FINANCIAL STATEMENTS PRESENTED, RELATED TO POTENTIAL VIOLATIONS OF THEIR TAX EXEMPT STATUS. THE ORGANIZATION HAS NO OPEN YEARS PRIOR TO 2009. true EXCELLENCE BOY'S CHARTER SCHOOL of bedford stuyv 225 patchen avenue brooklyn NY 11233 810650035 501(C)(3) 267000 SCHOOL GRANT BROWNSVILLE COLLEGIATE CHARTER SCHOOL 826 BROADWAY FLOOR 9 NEW YORK NY 10003 264475658 501(C)(3) 299013 SCHOOL GRANT RUTGERS THE STATE UNIVERSITY OF NEW JERSEY 620 GEORGE STREET NEW BRUNSWICK NJ 08901 237086291 501(C)(3) 7000 SCHOLARSHIP EXCELLENCE GIRLS CHARTER SCHOOL 794 MONROE STREET BROOKLYN NY 11221 264475595 501(C)(3) 52950 SCHOOL GRANT NORTH STAR ACADEMY CHARTER SCHOOL 10 washington place newark NJ 07102 223497097 501(C)(3) 3146890 SCHOOL GRANT SETON HALL UNIVERSITY 400 S ORANGE AVE SOUTH ORANGE NJ 07079 221500645 501(C)(3) 7750 SCHOLARSHIP BEDFORD STUYV COLLEGIATE CHARTER SCHOOL 800 GATES AVENUE BROOKLYN NY 11221 262302736 501(C)(3) 607087 SCHOOL GRANT LEADERSHIP PREP CANARSIE CHARTER SCHOOL 1001 EAST 100 STREET BROOKLYN NY 11236 270326938 501(C)(3) 103850 SCHOOL GRANT BROOKLYN EAST COLLEGIATE CHARTER SCHOOL 80 UNDERHILL AVENUE BROOKLYN NY 11238 270327096 501(C)(3) 85000 SCHOOL GRANT OCEAN HILL COLLEGIATE CHARTER SCHOOL 1137 HERKIMER STREET BROOKLYN NY 11233 043414783 501(C)(3) 100000 SCHOOL GRANT ROXBURY PREPARATORY CHARTER SCHOOL 22 REGINA ROAD DORCHESTER MA 02124 205060104 501(C)(3) 2018188 SCHOOL GRANT TRUE NORTH ROCHESTER PREP ELEMENTARY SCHOOL 2 POLK STREET TROY NY 12180 205060104 501(C)(3) 475000 SCHOOL GRANT TRUE NORTH ROCHESTER PREPARATORY WEST CAMPUS 1020 MAPLE STREET ROCHESTER NY 14611 262857555 501(C)(3) 300000 SCHOOL GRANT EXCELLENCE BOY'S CHARTER SCHOOL of bedford stuyv 225 patchen avenue BROOKLYN NY 11233 810650035 501(C)(3) 63055 SCHOOL GRANT GROVE HALL PREPARATORY CHARTER SCHOOL 22 REGINA ROAD DORCHESTER MA 02124 450816383 501(C)(3) 56627 SCHOOL GRANT UNCOMMON LENDER INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 263594129 501(C)(3) 250000 PROGRAM SUPPORT KINGS COLLEGIATE CHARTER SCHOOL 826 BROADWAY FLOOR 9 NEW YORK NY 10003 205733716 501(C)(3) 325782 SCHOOL GRANT WILLIAMSBURG COLLEGIATE CHARTER SCHOOL 826 BROADWAY FLOOR 7 NEW YORK NY 10003 202849835 501(C)(3) 662073 SCHOOL GRANT 17 0 educational scholarships 49 70800 GRANT FUND MONITORING Schedule I, Part I; Question 2 GRANTS ARE MONITORED BY THE ORGANIZATION'S FINANCE PERSONNEL THROUGH THE UTILIZaTION OF COST CENTERS AND OTHER INFORMATION; INCLUDING WRITTEN DOCUMENTATION AND RECEIPTS. X X X false false false false false false false true false BRETT PEISER 223484 0 500 0 0 25000 3088 0 17912 0 244984 25000 0 0 CAROLYN HACK 196136 0 500 0 0 0 3500 0 6395 0 206531 0 0 0 DANA LEHMAN 193686 0 500 0 0 0 3500 0 12875 0 210561 0 0 0 PAUL BAMBRICK SANTOYO 192339 0 500 0 0 0 3500 0 17557 0 213896 0 0 0 JOSHUA PHILLIPS 189654 0 500 0 0 0 3500 0 21445 0 215099 0 0 0 JULIE KENNEDY 172888 0 500 0 0 0 3500 0 18851 0 195739 0 0 0 EMMA VADEHRA 148625 0 500 0 0 0 3500 0 100 0 152725 0 0 0 BARBARA MARTINEZ 143845 0 500 0 1700 0 0 0 16538 0 162583 0 0 0 LAURA LEE MCGOVERN 140721 0 500 0 0 0 3500 0 17490 0 162211 0 0 0 TARA MARLOVITS 136234 0 500 0 0 0 3500 0 22064 0 162298 0 0 0 DAVID E RUDALL 97470 0 0 0 40000 12500 0 0 0 0 137470 12500 0 0 COMPENSATION INFORMATION SCHEDULE J, PART I, QUESTION 7 AND CORE FORM, PART VII CERTAIN INDIVIDUALS INCLUDED IN SCHEDULE J, PART II AND IN CORE FORM, PART VII, RECEIVED A BONUS DURING CALENDAR YEAR 2012 WHICH AMOUNTS WERE INCLUDED IN COLUMN B(II) HEREIN AND IN EACH INDIVIDUAL'S 2012 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES. PLEASE REFER TO THIS SECTION OF THE FORM 990, SCHEDULE J FOR THIS INFORMATION BY PERSON BY AMOUNT. STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS PART III, QUESTION 2 In December 2006, Excellence Academies Foundation, Inc. ("EAF"); a related Internal Revenue Code 501(c)(3) tax-exempt organization, purchased a loan receivable in the amount of $6,932,000. The receivable was originally held by one of the major supporters of Uncommon Schools, Inc. and its affiliates who assigned all rights and benefits on that date. On May 31, 2013 CitiCorp USA Inc. ("Citi"), which previously held the $3,068,000 remaining interest in the $10M promissory note, notified EAF of its intention to exercise its Put Option as defined in the agreement. On May 31, 2013 Citi and EAF entered into a Withdrawal and Interest Purchase and Sale Agreement and Assignment of Membership Interest agreement, pursuant to which Citi sold, assigned and transferred to EAF 100% of Citi's interest in Brooklyn Excellence Investment Fund, LLC. ("Fund"), for a purchase price of $123,400. Upon the sale of Citi's interest in the Fund, EAF became the sole member of the Fund. Pursuant to such purchase, EAF became the sole holder of the promissory note of $10M, which resulted in a net gain to EAF of $2,929,900. The promissory note of $10M was a liability of Excellence II, LLC; a disregarded entity of Uncommon Schools, Inc. ("USI"). On June 28, 2013, by consent of all members of the Board of Trustees of EAF, it was resolved that the Fund would be liquidated and dissolved and EAF would forgive the Excellence II Note and deemed it "Paid in Full". Accordingly, USI has recorded income for forgiveness of debt in the amount of $10M. DISCLOSURE INFORMATION CORE FORM, PART VI, SECTION b; QUESTION 11b THE ORGANIZATION IS THE PARENT ENTITY OF UNCOMMON SCHOOLS, INC. AND AFFILIATES. 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 TRUSTEES, PRIOR TO FILING WITH THE IRS. THE ORGANIZATION'S BOARD OF TRUSTEES 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. DISCLOSURE INFORMATION CORE FORM, PART VI, SECTION B; QUESTION 12 THE ORGANIZATION IS THE PARENT ENTITY OF UNCOMMON SCHOOLS, INC. AND AFFILIATES. THE ORGANIZATION REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF TRUSTEES, 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 TRUSTEES FOR ITS REVIEW AND DISCUSSION AND ANY MITIGATING BEHAVIOR WHERE NECESSARY. DISCLOSURE INFORMATION CORE FORM, PART VI, SECTION B; QUESTION 15 THE ORGANIZATION'S BOARD OF TRUSTEES 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, GENERAL COUNSEL 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 TRUSTEES 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. DISCLOSURE INFORMATION CORE FORM, PART VI, SECTION C; QUESTION 19 THE ORGANIZATION'S FILED CERTIFICATE OF INCORPORATION AND ANY AMENDMENTS CAN BE OBTAINED AND REVIEWED THROUGH THE STATE OF NEW JERSEY department OF TREASURY. RELATED HOURS DISCLOSURE CORE FORM, PART VII, SECTION A, COLUMN B THE ORGANIZATION IS THE PARENT ENTITY OF UNCOMMON SCHOOLS, INC. AND AFFILIATES. CERTAIN BOARD OF TRUSTEE MEMBERS, OFFICERS AND/OR DIRECTORS LISTED ON CORE FORM, PART VII AND SCHEDULE J OF THIS FORM 990 MAY HOLD SIMILAR POSITIONS WITH BOTH THIS ORGANIZATION AND OTHER AFFILIATES. THE HOURS SHOWN ON THIS FORM, 990 FOR BOARD MEMBERS WHO RECEIVE NO COMPENSATION FOR SERVICES RENDERED IN A NON-BOARD CAPACITY, REPRESENT THE ESTIMATED HOURS DEVOTED PER WEEK FOR THIS ORGANIZATION. TO THE EXTENT THESE INDIVIDUALS SERVE AS A MEMBER OF THE BOARD OF TRUSTEES OF OTHER RELATED ORGANIZATIONS, THEIR RESPECTIVE HOURS PER WEEK PER ORGANIZATION ARE APPROXIMATELY ONE HOUR. THE HOURS REFLECTED ON PART VII OF THIS FORM 990, FOR BOARD MEMBERS WHO RECEIVE COMPENSATION FOR SERVICES RENDERED IN A NON-BOARD CAPACITY, PAID OFFICERS AND KEY EMPLOYEES, REFLECT TOTAL HOURS WORKED PER WEEK ON BEHALF OF UNCOMON SCHOOLS, INC. AND AFFILIATES; NOT SOLELY THIS ORGANIZATION. AUDITED FINANCIAL STATEMENTS CORE FORM, PART XII; QUESTION 2 THE ORGANIZATION IS THE PARENT ENTITY OF UNCOMMON SCHOOLS, INC. AND AFFILIATES. AN INDEPENDENT CPA FIRM AUDITED THE FINANCIAL STATEMENTS OF THE TAXPAYER FOR THE FISCAL YEARS ENDED JUNE 30, 2013 AND JUNE 30, 2012; RESPECTIVELY, AND ISSUED A CONSOLIDATED FINANCIAL STATEMENT WITH CONSOLIDATING SCHEDULES BY ENTITY. AN UNQUALIFIED OPINION WAS ISSUED BY THE INDEPENDENT CPA FIRM EACH YEAR. THE BOARD OF TRUSTEES ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE TAXPAYER'S FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT AUDITOR. EXCELLENCE II LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 311488698 REAL ESTATE NY 10245818 0 USI UNCOMMON PROPERTIES LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463030189 REAL ESTATE NY 1349431 1199041 USI NSA 10 WASHINGTON LLC 10 WASHINGTON STREET NEWARK NJ 07102 311488698 REAL ESTATE NY 1061662 7312642 UNC PROP NSA CLINTON AVENUE LLC 600 CLINTON AVENUE NEWARK NJ 07108 311488698 REAL ESTATE NY 592397 9714147 UNC PROP NSA CENTRAL AVENUE LLC 13-25 CENTRAL AVENUE NEWARK NJ 07102 311488698 REAL ESTATE NY 1608621 22481150 UNC PROP NSA HAZELWOOD AVENUE LLC 24 HAZELWOOD AVENUE NEWARK NJ 07106 463055962 REAL ESTATE NY 1221250 2862652 UNC PROP TRUE NORTH ROCHESTER AMES STREET LLC 435 AMES STREET ROCHESTER NY 14611 311488698 REAL ESTATE NY 129521 1428347 UNC PROP TRUE NORTH ROCHESTER REAL ESTATE LLC 630 BROOKS AVENUE ROCHESTER NY 14619 311488698 REAL ESTATE NY 173362 988903 UNC PROP TRUE NORTH ROCHESTER PARKING LLC 657 BROOKS AVENUE ROCHESTER NY 14619 311488698 REAL ESTATE NY 0 10001 UNC PROP TRUE NORTH TROY REAL ESTATE LLC 82 THIRD STREET TROY NY 12180 311488698 REAL ESTATE NY 37500 8773 UNC PROP UNCOMMON CROWN HEIGHTS LLC 1485 PACIFIC STREET BROOKLYN NY 11216 311488698 REAL ESTATE NY 0 0 UNC PROP TRUE NORTH TYLER STREET LLC 2 POLK STREET TROY NY 12180 311488698 REAL ESTATE NY 506461 5703502 UNC PROP 559 BROAD STREET LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 462996274 REAL ESTATE NY 4238278 4410487 UNC PROP UNCOMMON PROPERTIES II LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463008952 REAL ESTATE NY 227897 6098914 UNC PROP NSA 15TH AVENUE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 371735871 REAL ESTATE NY 0 3500 UNC PROP EXCELLENCE ACADEMIES FOUNDATION INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 010790110 SUPPORT NY 501(C)(3) 509(A)(3) usi true UNCOMMON LENDER INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 263594129 REAL ESTATE NJ 501(C)(3) 509(a)(1) USI true NORTH STAR QALICB LLC 826 BROADWAY NEW YORK NY 10003 201991956 REAL ESTATE NY USI related 106157 0 false 0 false 0.85000 false true true false false false false false false false false false false false true false false false false UNCOMMON LENDER INC B 250000 COST EXCELLENCE ACADEMIES FOUNDATION INC C 243313 COST