2014-04-07T15:33:50-05:00 2013-08-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2012-09-01 237173492 A BETTER CHANCE INC ABET 6463461310 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 SANDRA E TIMMONS 6463461310 2014-04-07 1 ROBERT LYONS CPA P00227472 2125038800 2012 2016-03-07 17:11:31Z SANDRA E TIMMONS 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 10554045 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. 16 15 31 500 0 0 2174235 5344224 269532 200878 793670 1164251 -20419 6932 3217018 6716285 79741 73447 0 0 1755007 2010142 53055 0 1055458 1713880 2044036 3601683 4127625 -384665 2588660 13523061 15962382 2381457 2559031 11141604 13403351 X 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 2664158 73447 200878 IN OUR 50TH ANNIVERSARY YEAR, FISCAL YEAR 2013, 2783 APPLICATIONS WERE RECEIVED, 664 ACCEPTANCES, AND 508 PLACEMENTS. THE ORGANIZATION INTERVIEWED 1911 APPLICANTS AND HOSTED 4 SCHOOL FAIRS IN LOS ANGELES, OAKLAND, ATLANTA, AND PHILADELPHIA AT WHICH OVER 1000 STUDENTS AND 100 MEMBER SCHOOLS PARTICIPATED. IN CELEBRATION OF OUR ANNIVERSARY, WE ALSO HOSTED 8 CELEBRATORY BREAKFAST EVENTS IN EACH REGION. MORE THAN 350 PEOPLE AND 52% OF OUR 308 MEMBER SCHOOLS PARTICIPATED IN THESE REGIONAL CELEBRATIONS.A BETTER CHANCE CONDUCTED 27 ADMINISTRATIONS OF THE SSAT AND ISEE EXAMS TESTING A TOTAL OF 2354 APPLICANTS. OVER 1900 APPLICANTS RECEIVED FEE WAIVERS VALUED AT MORE THAN $211,000. THE ORGANIZATION ALSO LED 19 REFERRAL NIGHTS, FINISHING STRONG, AND FINANCIAL AID WORKSHOPS WHICH ARE USED TO HELP APPLICANTS AND FAMILIES NAVIGATE AND UNDERSTAND THE PROCESS BETTER. 2664158 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 1 0 0 0 0 0 0 0 0 1 20 0 31 1 0 0 0 0 0 1 1 0 0 0 0 X 16 15 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 37.50 X X 193275 0 6678 MR RONALD R PRESSMAN 2.00 X X 0 0 0 MR TIM C MCCHRISTIAN 2.00 X X 0 0 0 MR PETER ALLAN ATKINS 2.00 X 0 0 0 MR JOHN P COSTAS 2.00 X 0 0 0 MR GREGG A GONSALVES 2.00 X 0 0 0 MS CARLA A HARRIS 2.00 X 0 0 0 MS TRACEY G RIESE 2.00 X 0 0 0 MR KURT VAN WAGENEN 2.00 X 0 0 0 MR A LOUIS PARKER 2.00 X 0 0 0 MR STEVEN S ROGERS 2.00 X 0 0 0 MS SUSAN CHAPMAN 2.00 X 0 0 0 MR GREGORY T DURANT 2.00 X 0 0 0 MR HENRY LAVINE 2.00 X 0 0 0 MR DMITRI STOCKTON 2.00 X 0 0 0 MR GREGORY ROBINSON 2.00 X 0 0 0 MS LINDA ASHFIELD 37.50 X 103820 0 1500 MR SUNIL OOMMEN 37.50 X 108742 0 5676 405837 0 13854 3 0 1 0 0 1140293 4203931 52614 5344224 SCHOOL MEMBERSHIP DUES 611600 148575 148575 REGISTRATION FEES 900099 52303 52303 200878 299351 299351 6932 6932 4516692 3651792 864900 864900 864900 185968 1140293 185968 0 6716285 200878 0 1171183 X 73447 73447 439974 198222 98473 143279 1200369 960260 57974 182135 225038 163404 20977 40657 144761 102780 13752 28229 34676 34676 72762 72762 707347 232852 6092 468403 160055 69793 17901 72361 342148 251199 30905 60044 506907 488117 17214 1576 51224 35749 4646 10829 2236 1584 212 440 25968 18357 2435 5176 EQUIPMENT PURCHASES 58082 44063 4233 9786 MISCELLANEOUS 30095 23724 6371 SUBSCRIPTION AND DUES 29355 20389 1456 7510 RECRUITING 19035 1525 140 17370 4146 2417 437 1292 4127625 2664158 408009 1055458 64064 173240 343997 2182409 32613 30416 28620 11457 19399 17163 12053018 12534173 1009970 1024981 13523061 15962382 340426 237631 133031 159400 1908000 2162000 2381457 2559031 X -1950687 -2197060 1124865 3492974 11967426 12107437 11141604 13403351 13523061 15962382 X 2588660 -96497 -230416 X X 0 1 X 1 0 X 1950164 2282368 2589493 2174235 5408780 14405040 1950164 2282368 2589493 2174235 5408780 14405040 364151 14040889 327607 330028 287290 280528 306283 1531736 5857 3263 1102 10222 15946998 2114320 0.88050 0.84730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13092291 200000 662086 841452 13112925 12618108 379519 761935 667271 13092291 11773455 916587 71934 12618108 11476697 364415 -67657 11773455 13327566 -1563134 -287735 11476697 0.92300 0.07700 1 0 21882 4719 17163 6738 6738 0 17163 BENEFICIAL INTEREST IN PERPETUAL TRUST 1024981 1024981 X 6994182 335648 15011 350659 6643523 72762 72762 6716285 4732435 335648 341924 677572 4054863 72762 72762 4127625 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE FOR OPERATIONAL PURPOSES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS AS OF AUGUST 31, 2013 AND 2012 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, 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 15,011. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET UNREALIZED LOSSES ON INVESTMENTS 96,497. BAD DEBT EXPENSE 245,427. X X X X X 1 SUSAN ULIN ASSOCIATES 156 FIFTH AVENUE SUITE 1100 NEW YORK NY 10010 SPECIAL EVENTS 0 1326261 53066 1326261 1326261 53066 1326261 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 LUNCHEON 1326261 1140293 185968 185968 1326261 1140293 185968 185968 185968 0 1 SCHOLARSHIP AWARDS AND RESIDENTIAL ASSISTANCE 65 73447 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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), WE ISSUE 1099'S TO ANYONE RECEIVING MORE THAN A TOTAL OF $600. X 0 0 0 0 0 0 0 0 0 MS SANDRA E TIMMONS 193275 0 0 0 0 0 0 0 6678 0 199953 0 0 0 X 1 52614 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. OTHER FEES FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 232,852. MANAGEMENT AND GENERAL EXPENSES 6,092. FUNDRAISING EXPENSES 468,403. TOTAL EXPENSES 707,347. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 15,011. BAD DEBT EXPENSE -245,427. THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT FORM 990, PART XI LINE 2C: HAS NOT BEEN CHANGED FROM THE PRIOR YEAR.