2014-02-12T12:36:34-06:00 2013-06-30 911194016 CLARK NUBER PS 10900 NE 4TH STREET SUITE 1700 BELLEVUE WA 98004 990 2012-07-01 911163554 NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION NORT 2063748844 2815 2ND AVENUE NO 280 SEATTLE WA 98121 CINDY R SEREMEK 2063748844 2014-02-15 1 SARA ELIZABETH J HYRE P00235495 4254544919 2012 2015-11-30 17:44:51Z AMERICAN FINANCIAL SOLUTIONS CINDY R SEREMEK 2815 2ND AVENUE NO 280 SEATTLE WA 98121 4622754 0 X WWW.MYFINANCIALGOALS.ORG X 1986 WA NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION PROMOTES, SUPPORTS, MAINTAINS, DEVELOPS, AND EXTENDS EDUCATIONAL OFFERINGS AND THE PURSUIT THEREOF AT OR IN CONNECTION WITH THE NORTH SEATTLE COMMUNITY COLLEGE.AMERICAN FINANCIAL SOLUTIONS (AFS) IS A DIVISION OF THE NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION, THE MISSION OF WHICH IS TO EMPOWER PEOPLE TO IMPROVE THE QUALITY OF THEIR LIVES THROUGH FINANCIAL EDUCATION AND COUNSELING. WE REDIRECT A PORTION OF OUR PROCEEDS TO A FUND THAT PROVIDES STUDENT SCHOLARSHIPS, FACULTY GRANTS, AND OTHER ACADEMIC PROGRAMS FOR NORTH SEATTLE COMMUNITY COLLEGE. 10 10 48 4 0 0 2216045 2300804 3224045 2284198 61338 37752 0 0 5501428 4622754 250000 250000 0 0 2783950 2583064 0 0 0 2387334 1677018 5421284 4510082 80144 112672 7334431 7219753 1674412 1453003 5660019 5766750 X THE NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION (THE FOUNDATION) OPERATES EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1954, AS AMENDED. - SEE SCHEDULE O 0 0 3789975 2284198 CONSUMER CREDIT COUNSELING PROGRAM TO ASSIST FINANCIALLY DISTRESSEDINDIVIDUALS GAIN CONTROL OF PERSONAL FINANCIAL SITUATIONS THROUGHEDUCATION AND INDIVIDUALLY TAILORED SOLUTIONS. NET REVENUES ARE AVAILABLE AT THE DISCRETION OF THE BOARD TO FUND THE FOUNDATION'S FINANCIAL AND PROGRAMMATIC SUPPORT OF THE COLLEGE.CREDIT COUNSELING - AMERICAN FINANCIAL SOLUTIONS (AFS) HELPS CLIENTSFREE THEMSELVES FROM THE ANXIETY AND STRESS OF CREDIT, DEBT ANDFINANCIAL WORRIES BY PROVIDING CREDIT COUNSELING, FINANCIAL EDUCATIONAND DEBT MANAGEMENT SERVICES THAT PUT CLIENTS IN CONTROL OF THEIRFINANCIAL SUCCESS. 10,255 CLIENTS WERE COUNSELED IN A CONFIDENTIAL,ONE-ON-ONE COUNSELING SESSION, WHERE CERTIFIED CREDIT COUNSELORS HELP ASSESS CLIENTS' SITUATIONS AND IDENTIFY OPTIONS TO MANAGE AND PAY OFF DEBTS. THERE IS NO CHARGE FOR COUNSELING OR EDUCATION SERVICES. DEBT MANAGEMENT PLANS - ONE OF THE OPTIONS AVAILABLE TO CLIENTS WHO ARESTRUGGLING WITH REPAYING UNSECURED DEBT IS A DEBT MANAGEMENT PLAN. ADEBT MANAGEMENT PLAN IS A WAY TO CONSOLIDATE CREDIT AND UNSECURED DEBTINTO ONE MONTHLY PAYMENT THAT FITS WITHIN A CLIENT'S BUDGET, ALLOWINGREPAYMENT OF DEBTS MORE QUICKLY OVER TIME THAN WOULD OTHERWISE BEPOSSIBLE. CHARGES APPLY TO ENROLL IN DEBT MANAGEMENT PLANS. THESE FEES ARE REGULATED BY THE 48 STATES IN WHICH AFS IS LICENSED AND BY INDUSTRYGUIDELINES DEVELOPED BY NON-PROFIT CREDIT COUNSELING AGENCIES. 2,061DEBT MANAGEMENT PLANS WERE ENTERED INTO DURING THE FISCAL YEAR.HOME FORECLOSURE COUNSELING - AFS IS A SUB-GRANTEE OF THE WASHINGTON STATE HOUSING FINANCE COMMISSION, A HUD-APPROVED HOUSING COUNSELINGAGENCY. AFS OFFERS ASSISTANCE TO CLIENTS TO HELP THEM TRY TO AVOID THELOSS OF THEIR HOMES. IN CONFIDENTIAL, ONE-ON-ONE COUNSELING SESSIONS,479 CLIENTS WERE OFFERED HELP BY AFS COUNSELORS WHO ASSESS THEIRSITUATIONS, INFORM THEM OF OPTIONS AND WORK DIRECTLY WITH THEIR LENDERSTO TRY TO FIND SOLUTIONS THAT WILL WORK FOR THE CLIENT. MORTGAGECOUNSELING SESSIONS ARE OFFERED FREE OF CHARGE TO CLIENTS.COUNSELING BEFORE BANKRUPTCY - IN CONFIDENTIAL, ONE-ON-ONE COUNSELINGSESSIONS, AFS CERTIFIED CREDIT COUNSELORS HELPED 369 CLIENTS ASSESSTHEIR CURRENT INCOME AND ASSETS VERSUS MONTHLY EXPENSES AND DEBTS. WITHTHIS INFORMATION, AFS CREATES AN ACCURATE AND DETAILED MONTHLY BUDGETTHAT CAPTURES THE CLIENT'S OVERALL FINANCIAL SITUATION. THIS PROCESSALLOWS THE COUNSELOR TO BETTER EXPLAIN WHAT BANKRUPTCY MEANS TO THECLIENT AND THE POSSIBLE ALTERNATIVES FOR HANDLING DEBTS. AFS ISAPPROVED BY THE EXECUTIVE OFFICE FOR U.S. TRUSTEES (EOUST) TO ISSUECERTIFICATES OF CREDIT COUNSELING IN COMPLIANCE WITH THE BANKRUPTCYCODES OF ARIZONA, CALIFORNIA, COLORADO, CONECTICUT, DELAWARE, GEORGIA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, MAINE, MARYLAND, MINNESOTA, MISSISSIPPI, MISSOURI, NEBRASKA, NEVADA, NEW JERSEY, NEW YORK, NORTH DAKOTA, OREGON, PENNSYLVANIA, SOUTH CAROLINA, TENNESSEE, TEXAS, UTAH, VERMONT, VIRGINIA AND WASHINGTON. APPROVAL DOES NOT ENDORSE OR ASSURE THE QUALITY OF AN AGENCY'S SERVICES.POST-BANKRUPTCY EDUCATION - THE BANKRUPTCY CODE REQUIRES CONSUMERS TOCOMPLETE AN APPROVED FINANCIAL EDUCATION COURSE, ALSO KNOWN ASPOST-BANKRUPTCY CREDIT COUNSELING, WITH AN APPROVED AGENCY BEFORE DEBTS CAN BE DISCHARGED. AFS PROVIDES THIS COURSE UTILIZING THE "MONEY INMOTION" PROGRAM. AFS IS APPROVED BY THE EXECUTIVE OFFICE FOR U.S.TRUSTEES (EOUST) TO PROVIDE THE REQUIRED POST-BANKRUPTCY EDUCATION INCOMPLIANCE WITH THE BANKRUPTCY CODES OFARIZONA, CALIFORNIA, COLORADO, CONECTICUT, DELAWARE, GEORGIA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, MAINE, MARYLAND, MINNESOTA, MISSISSIPPI, MISSOURI, NEBRASKA, NEVADA, NEW JERSEY, NEW YORK, NORTHDAKOTA, OREGON, PENNSYLVANIA, SOUTH CAROLINA, TENNESSEE, TEXAS, UTAH, VERMONT, VIRGINIA AND WASHINGTON. THERE WERE 276 CLIENTS SERVED DURING THE YEAR. 250000 250000 SUPPORTS NORTH SEATTLE COMMUNITY COLLEGE THROUGH FINANCIAL CONTRIBUTIONS FOR SCHOLARSHIPS, FACULTY GRANTS AND OTHER PURPOSES, AND BY PROVIDING FOUNDATION PERSONNEL THE RESOURCES FOR SPECIFIC EDUCATIONAL PROJECTS IN COLLABORATION WITH THE COLLEGE. 24012 PUBLIC EDUCATIONAL OUTREACH ACTIVITIES FOCUSING ON CONSUMER DEBT ANDOTHER PERSONAL FINANCE SUBJECTS. FREE WORKSHOPS, SEMINARS, PUBLICATIONS AND ONLINE COURSES. 1,963 INDIVIDUALS PARTICIPATED IN FACE TO FACE EDUCATION CLASSES, WHILE 2,833 INDIVIDUALS PARTICIPATED IN ON-LINE EDUCATION CLASSES.FINANCIAL LITERACY EDUCATION - AMERICAN FINANCIAL SOLUTIONS, IN PARTNERSHIP WITH THE SEATTLE COMMUNITY COLLEGES TELEVISION AND NORTH SEATTLE COMMUNITY COLLEGE, HAS CREATED EIGHT POWERFUL PERSONAL FINANCE COURSES THAT ARE AVAILABLE TO THE PUBLIC ONLINE FOR FREE, WITH AN OPTION TO RECEIVE A CERTIFICATE FOR THE STUDENT'S CREDIT FILE, CALLED "INVESTING IN YOURSELF." THIS SERIES OF PROGRAMS TEACHES THE ESSENTIALS OF SMART MONEY MANAGEMENT. AFS ALSO CONDUCTS WORKSHOPS IN THE WESTERN WASHINGTON COMMUNITY TO BUILD FINANCIAL LITERACY AND HELP PERSONS TO BETTER MANAGE THEIR MONEY. A VARIETY OF PROGRAMS ARE AVAILABLE FOR ADULTS, YOUNG ADULTS, PARENTS AND TEACHERS. 4063987 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 20 0 1 48 1 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OR ME MA OH MT CA CT MD IL WA X THERESE COAD 2063748877 2815 2ND AVENUE 280 SEATTLE WA 98121 JEROME GRONFEIN 3.00 X X 2400 0 0 JOSEPH JAHN 3.00 X X 2400 0 0 JAMES MEDLEY 3.00 X X 2700 0 0 DR RONALD LAFAYETTE 3.00 X 2100 0 0 MARK MITSUI 3.00 X 0 0 0 LEE OKARMA REES 3.00 X 2100 0 0 CAROLYN BARTON 3.00 X 2100 0 0 WADE PARROTT 3.00 X 2100 0 0 WILLIAM MASON 3.00 X 0 0 0 SYLVESTER IFFERT 3.00 X 0 0 0 REED DAVIS 3.00 X 0 0 0 HENRY F KEATON 45.00 X 79972 0 5656 CINDY R SEREMEK 45.00 X 155084 0 17565 DEREK OLSON 10.00 X 21000 0 0 KEVIN F CROWE 40.00 X 132967 0 13428 404923 0 36649 2 0 1 0 AMERIX CORPORATION 8930 STANFORD BLVD COLUMBIA MD 21045 BACK OFFICE PROCESSING 396377 GOOGLE 1600 AMPHITHEATRE PARKWAY MOUNTAIN VIEW CA 21405 MARKETING 139327 INTEGRANT 5405 OBERLIN DR SUITE 200 SAN DIEGO CA 92121 SOFTWARE PROCESSING 120471 3 X 223050 2077754 2300804 CLIENT/SETUP, NSF FEES 541990 2284198 2284198 2284198 37152 37152 600 0 600 600 600 4622754 2284198 0 37752 250000 250000 382720 174429 208291 1686184 1656055 30129 21110 20537 573 308008 299995 8013 185042 173540 11502 1355 575 780 32470 32470 1096 1096 9211 9211 277050 277050 324219 299600 24619 18186 14265 3921 206103 172664 33439 27773 6943 20830 34063 29296 4767 197093 155413 41680 PROCESSING FEES 379413 379413 LICENSE/PERMITS/FEES 57534 57534 DUES & SUBSCRIPTIONS 54090 48681 5409 CLIENT EDUCATION 24012 24012 33350 14774 18576 4510082 4063987 446095 0 849346 997200 6061069 5671576 144185 132531 30713 22229 209154 61838 749258 714632 39964 34626 215253 84500 7334431 7219753 526806 552860 62505 12501 1085101 887642 1674412 1453003 X 5660019 5766750 5660019 5766750 7334431 7219753 112672 -5941 0 X 0 1 X 1 0 X 11302088 7126727 4179449 2216045 2300804 27125113 11302088 7126727 4179449 2216045 2300804 27125113 3310134 23814979 127572 7154 78478 61338 37152 311694 616088 314270 930358 28367165 13579512 0.83950 0.89600 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INSURANCE REIMBURSEMENT - 2008 AMOUNT: $ 616,088. 2009 AMOUNT: $ 314,270. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 110004 110004 0 639254 604628 34626 34626 4616813 -5941 -5941 4622754 0 4622754 4510082 0 4510082 0 4510082 PART IV, LINE 2B: AMERICAN FINANCIAL SOLUTIONS, A DIVISION OF NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION, COLLECTS PAYMENTS FROM CLIENTS THAT IT DISTRIBUTES TO VARIOUS CREDITORS ON THE CLIENT'S BEHALF IN ACCORDANCE WITH EACH CLIENT'S DEBT MANAGEMENT PLAN. THE AMOUNTS COLLECTED BUT NOT YET REMITTED TO CREDITORS ARE SHOWN AS CASH HELD IN TRUST WITH A CORRESPONDING LIABILITY FOR THE AMOUNTS HELD IN TRUST. 1 NORTH SEATTLE COMMUNITY COLLEGE 9600 COLLEGE WAY NORTH SEATTLE WA 98103 910826872 GOV'T ENTITY 235000 SCHOLARSHIPS, FACULTY GRANTS, PROGRAMS AND OTHER PURPOSES. NORTH SEATTLE COMMUNITY COLLEGE EDUCATION FUND 9600 COLLEGE WAY NORTH SEATTLE WA 98103 412178833 501(C)(3) 15000 SPONSORSHIP FOR AUCTION AND SCHOLARSHIPS. 2 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION GRANTED FUNDS FOR SCHOLARSHIPS, FACULTY GRANTS AND OTHER PURPOSES. A SUMMARY IS RECEIVED FROM THE RECIPIENTS SHOWING HOW THE FUNDS WERE SPENT. X X X 0 0 0 0 0 0 0 0 0 CINDY R SEREMEK 140084 0 15000 0 0 0 4137 0 13428 0 172649 0 0 0 FORM 990, PART I, LINE 6 - VOLUNTEER ACTIVITIES: THERE WERE 4 VOLUNTEERS DURING THE YEAR. 2 VOLUNTEERS SERVED ON THE BOARD OF DIRECTORS AND 2 PERFORMED ADMINISTRATIVE DUTIES FOR THE ORGANIZATION. ORGANIZATION MISSION STATEMENT FORM 990, PART III, LINE 1, ORGANIZATION MISSION STATEMENT INCLUDING PROMOTING, SUPPORTING, MAINTAINING, DEVELOPING, AND EXTENDING EDUCATIONAL OFFERINGS AND THE PURSUIT THEREOF AT OR IN CONNECTION WITH THE NORTH SEATTLE COMMUNITY COLLEGE. AMERICAN FINANCIAL SOLUTIONS (AFS) IS A DIVISION OF THE NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION, A NON-PROFIT 501(C)(3) TAX EXEMPT ORGANIZATION. AFS IS DEDICATED TO: -EDUCATING THE GENERAL PUBLIC ON THE PROPER USE OF CREDIT, DEBT MANAGEMENT, AND RELATED PURPOSES. -PROVIDING FINANCIAL SUPPORT TO NORTH SEATTLE COMMUNITY COLLEGE TO FUND STUDENT SCHOLARHSIPS AND OTHER EDUCATIONAL PROGRAMS. NO PART OF THE NET EARNINGS OF THE FOUNDATION OR OF AFS INURES TO THE BENEFIT OF ANY PRIVATE PERSON OR ORGANIZATION OTHER THAN STUDENT SCHOLARSHIPS AND RELATED PROGRAMS OF NORTH SEATTLE COMMUNITY COLLEGE. AFS WAS ESTABLISHED AS A PROGRAM OF THE FOUNDATION DURING THE FISCAL YEAR ENDED JUNE 30, 1999. AFS OPERATES A CONSUMER CREDIT COUNSELING PROGRAM AND AS SUCH, OFFERS COUNSELING, EDUCATION, REFERRAL RESOURCES, AND DEBT MANAGEMENT PROGRAMS TO ITS CALLERS. AFS ALSO OFFERS A VARIETY OF EDUCATIONAL AND COUNSELING RESOURCES AND PROGRAMS TO THE GENERAL PUBLIC AND COMMUNITY ORGANIZATIONS. THE PURPOSE OF THESE SERVICES IS TO ENABLE FINANCIALLY DISTRESSED PEOPLE TO HAVE A BETTER UNDERSTANDING OF THEIR PERSONAL FINANCES AND USE OF CREDIT BY OFFERING RESOURCES AND ALTERNATIVES TO THEM. PROGRAMS OFFERED INCLUDE FINANCIAL LITERACY EDUCATION, CREDIT COUNSELING, DEBT MANAGEMENT PLANS, HOME FORECLOSURE COUNSELING, COUNSELING BEFORE BANKRUPTCY AND POST-BANKRUPTCY EDUCATION. FORM 990, PART VI, SECTION B, LINE 11 EACH BOARD MEMBER IS PROVIDED A COPY OF THE FORM 990 AND ASKED TO REVIEW THE FORM AND PROVIDE ANY COMMENTS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND DIRECTORS COMPLETE A CONFLICT OF INTEREST DISCLOSURE YEARLY. THE ORGANIZATION'S ATTORNEY REVIEWS ALL INFORMATION TO ENSURE THERE ARE NO CONFLICTS. IF A CONFLICT OF INTEREST ARISES WITH A BOARD DIRECTOR, THEY WILL NOT BE ABLE TO PARTICIPATE IN DISCUSSION OR VOTE ON SUCH TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS AND SETS THE SALARY OF THE CEO BASED UPON COMPARABILITY DATA. IN ADDITION, THEY APPROVE THE SALARIES SUGGESTED BY THE CEO FOR HER DIRECT REPORTS. SALARY REVISIONS WERE BASED ON LOCAL SALARY SURVEYS OBTAINED AND JOB PERFORMANCE. THE LAST COMPENSATION REVIEW WAS PERFORMED IN JUNE OF 2013. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WOULD REVIEW EACH REQUEST AND IF DEEMED REASONABLE, PROVIDE COPIES OF THE REQUESTED DATA. FORM 990, PART VIII, LINE 2 NSF REFERS TO NON-SUFFICIENT FUNDS. I.R.C. SECTION 501(Q) DISCLOSURE THE INTERNAL REVENUE SERVICE HAS ESTABLISHED GUIDELINES FOR TAX EXEMPT CREDIT COUNSELING ORGANIZATIONS, WHICH ARE DESCRIBED IN IRC SECTION 501(Q). NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION REVIEWS THESE GUIDELINES EACH YEAR AND VERIFIES THAT IT DOES MEET THE REQUIREMENTS OF IRC SECTION 501(Q), AS FOLLOWS: THE ORGANIZATION PROVIDES CREDIT COUNSELING SERVICES TAILORED TO THE SPECIFIC NEEDS AND CIRCUMSTANCES OF THE CONSUMER; DOES NOT MAKE LOANS TO DEBTORS; PROVIDES ONLY INCIDENTAL SERVICES TO IMPROVE CONSUMER CREDIT RECORDS AND CREDIT HISTORY, AND DOES NOT CHARGE A SEPARATE FEE FOR SUCH SERVICES; DOES NOT REFUSE SERVICES BASED ON ABILITY TO PAY OR INELIGIBILITY/UNWILLINGNESS OF CONSUMER TO ENROLL IN A DEBT MANAGEMENT PLAN (DMP); CHARGES REASONABLE FEES AND PROVIDES WAIVERS IF CONSUMER IS UNABLE TO PAY; THE MAJORITY OF THE ORGANIZATION'S BOARD MEMBERS REPRESENT BROAD INTERESTS OF THE PUBLIC AND ARE NOT EMPLOYED BY THE ORGANIZATION OR BENEFIT FROM IT; THE ORGANIZATION DOES NOT HAVE OWNERSHIP IN AN ENTITY THAT IS INVOLVED IN THE CREDIT COUNSELING OR SIMILAR BUSINESS; AND DOES NOT PAY FOR REFERRALS OR RECEIVE AMOUNTS FOR PROVIDING REFERRALS FOR DEBT MANAGEMENT PLANS. IN ADDITION, THE ORGANIZATION DOES NOT SOLICIT CONTRIBUTIONS FROM CONSUMERS DURING THE INITIAL COUNSELING PROCESS, OR WHILE A CONSUMER IS RECEIVING SERVICES FROM ORGANIZATION; AND THE AMOUNT OF REVENUE THE ORGANIZATION RECEIVES FROM ITS CUSTOMERS' CREDITORS ATTRIBUTABLE TO DMP SERVICES DOES NOT EXCEED THE LIMIT OF 50 PERCENT OF TOTAL REVENUES.