2013-02-13T11:12:50-06:00 2012-06-30 WithumSmithBrown PC 465 South St Ste 200 Morristown NJ 079606497 990 2011-07-01 311488698 UNCOMMON SCHOOLS INC % CAROLYN HACK UNCO 2128447905 C/O RHF 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 carolyn hack 2013-01-18 true 9738989494 2011 2016-03-07 17:11:31Z BRETT PEISER 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 32953891 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. 10 9 137 0 98082 -123305 11602179 15573442 8179926 11271173 292359 2099553 1757091 3671663 21831555 32615831 5555128 8382853 0 0 6872183 9010807 0 0 512053 7501578 8781424 19928889 26175084 1902666 6440747 77215299 72579802 70129705 59615228 7085594 12964574 X TO START AND MANAGE OUTSTANDING URBAN CHARTER PUBLIC SCHOOLS 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. TO START, DEVELOP AND SUPPORT (THROUGH FUNDRAISING AND SERVICES) EXEMPLARY CHARTER PUBLIC SCHOOLS SERVING LOW INCOME STUDENTS PRIMARILY IN THE NORTHEAST. 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 false true 24400933 8382583 11267855 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. 24400933 true true false false false false false false false true false true false true true false true false false false false false false false false false true true true false false false true false false false false false false false false true true true true false false true 63 0 true 137 true true true false false false false false false false false false X 10 9 false false true 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 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 DAVID E RUDALL 55.0 X X 227941 25000 3801 JOSHUA PHILLIPS 55.0 X 187959 0 26430 CAROLYN HACK 55.0 X 174451 0 10261 BRETT PEISER 55.0 X 187782 50000 22402 DANA LEHMAN 55.0 X 191218 0 14905 DOUG LEMOV 55.0 X 190796 0 22984 PAUL BAMBRICK SANTOYO 55.0 X 189130 0 21554 SIMON MOLONEY 55.0 X 141167 0 13649 LAURA LEE MCGOVERN 55.0 X 140055 0 16045 TARA MARLOVITS 55.0 X 129496 0 24847 MICHAEL AMBRIZ 55.0 X 119001 0 10246 SARA BATTERTON 55.0 X 109364 0 11776 1988360 75000 198900 32 false true false CASERTA CONCEPTS LLC 9 CAMBRIDGE COURT LARCHMONT NY 10538 IT 536055 SILHOUETTE ART ON VIDEO PO BOX 11052 ALBANY NY 122110052 PHOTOGRAPHY 143500 2 913664 1893854 12765924 15573442 MANAGEMENT FEES 900099 8316901 8316901 PROFESSIONAL DEVELOPMENT & TRAINING FEES 611430 1054406 1054406 REAL ESTATE DEVELOPMENT INCOME 531390 186399 186399 OTHER PROGRAM SERVICE REVENUE 900099 1612067 1612067 ROYALTY 525990 101400 101400 11271173 376812 376812 0 0 3671663 0 3671663 3671663 98082 3573581 2060801 338060 1722741 1722741 1722741 0 0 0 0 32615831 11169773 98082 5774534 8358967 8358967 23886 23886 0 0 1471616 1471616 0 6424812 5565589 460740 398483 135684 118064 9611 8009 425564 367991 31403 26170 553131 492287 33188 27656 0 12387 248 12139 90028 1801 88227 0 0 0 490566 478496 12070 130187 127919 2268 317071 43442 272313 1316 454610 446353 8257 0 1135847 1125141 10706 265045 179805 84379 861 0 505753 430578 75175 3393961 3393961 0 1113685 1113685 38321 766 37555 TRAINING 294615 294615 RECRUITMENT 79860 79860 FELLOWSHIP EXPENSES 56945 56945 OTHER EXPENSES 402543 228918 134592 39033 26175084 24400933 1262098 512053 0 0 15512301 13258334 2014039 1012731 3661911 4869556 115000 75000 0 0 0 0 0 0 228042 650200 51032797 2295302 42000182 48737495 0 0 0 0 13588232 3885200 9930 15250 85662 76036 77215299 72579802 4442450 1455298 0 0 2759730 281800 642372 0 0 0 0 0 61477664 57777090 0 0 807489 101040 70129705 59615228 X 7085594 12964574 0 0 0 0 7085594 12964574 77215299 72579802 X 6440747 -561767 X X false true true X true true X 7603467 11383536 17106116 11602179 15573442 63268740 7603467 11383536 17106116 11602179 15573442 63268740 10908560 52360180 502665 933931 302414 358365 376812 2474187 65742927 29494608 0.79644 0.79617 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 3008220 3008220 0 37236821 1622618 35614203 0 10203358 503248 9700110 0 584398 169436 414962 48737495 ESCROW RESERVE ACCOUNTS 3885200 F LIABILITY COMPANY 0 F 3885200 0 OPTION LIABILITY 0 OTHER PAYABLES - RELATED PARTY 0 OTHER PAYABLES 101040 101040 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, 2012: 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 2008. true EXCELLENCE BOY'S CHARTER SCHOOL of bedford stuyv 225 patchen avenue brooklyn NY 11233 810650035 501(C)(3) 11000 PROGRAM SUPPORT uncommon collegiate charter high school 832 mercy avenue 2nd floor brooklyn NY 11216 262302736 501(C)(3) 220000 PROGRAM SUPPORT dorchester prep 206 magnolia street dorchester MA 02121 451185757 501(C)(3) 168467 PROGRAM SUPPORT EXCELLENCE GIRLS CHARTER SCHOOL 794 MONROE STREET BROOKLYN NY 11221 264475595 501(C)(3) 25000 PROGRAM SUPPORT NORTH STAR ACADEMY CHARTER SCHOOL 10 washington place newark NJ 07102 223497097 501(C)(3) 3050492 PROGRAM SUPPORT BROOKLYN EAST COLLEGIATE CHARTER SCHOOL 80 UNDERHILL AVENUE BROOKLYN NY 11238 270327096 501(C)(3) 185230 PROGRAM SUPPORT OCEAN HILL COLLEGIATE CHARTER SCHOOL 1137 HERKIMER STREET BROOKLYN NY 11233 043414783 501(C)(3) 90000 PROGRAM SUPPORT ROXBURY PREPARATORY CHARTER SCHOOL 120 FISHER AVENUE ROXBURY MA 02120 205060104 501(C)(3) 582500 PROGRAM SUPPORT TRUE NORTH ROCHESTER PREP ELEMENTARY SCHOOL 1020 MAPLE STREET ROCHESTER NY 14611 205060104 501(C)(3) 150000 PROGRAM SUPPORT TRUE NORTH TROY PREPARATORY ELEMENTARY SCHOOL 2 POLK STREET TROY NY 12180 262857555 501(C)(3) 705250 PROGRAM SUPPORT UNCOMMON CHARTER HIGH SCHOOL 157 WILSON STREET BROOKLYN NY 11233 263594129 501(C)(3) 1735000 PROGRAM SUPPORT GROVE HALL PREPARATORY CHARTER SCHOOL 214 HARVARD STREET DORCHESTER MA 02124 450816383 501(C)(3) 835382 PROGRAM SUPPORT LEADERSHIP PREP 4 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 270326938 501(C)(3) 7500 PROGRAM SUPPORT TRUE NORTH ROCHESTER WEST CAMPUS 1020 MAPLE STREET ROCHESTER NY 14611 451340701 501(C)(3) 338146 PROGRAM SUPPORT UNCOMMON LENDER INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 263594129 501(C)(3) 250000 PROGRAM SUPPORT 15 educational scholarships 12 23886 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 X false false false false false false false true false BRETT PEISER 187282 0 500 0 0 50000 3500 0 18902 0 210184 50000 0 0 DAVID E RUDALL 192441 0 500 0 35000 25000 3500 0 301 0 231742 25000 0 0 JOSHUA PHILLIPS 187459 0 500 0 0 0 3500 0 22930 0 214389 0 0 0 CAROLYN HACK 173951 0 500 0 0 0 3500 0 6761 0 184712 0 0 0 DANA LEHMAN 190718 0 500 0 0 0 3500 0 11405 0 206123 0 0 0 SIMON MOLONEY 140667 0 500 0 0 0 3500 0 10149 154816 0 0 0 LAURA LEE MCGOVERN 139555 0 500 0 0 0 3500 0 12545 0 156100 0 0 0 TARA MARLOVITS 128996 0 500 0 0 0 3500 0 21347 0 154343 0 0 0 DOUG LEMOV 190296 0 500 0 0 0 3500 0 19484 0 213780 0 0 0 PAUL BAMBRICK SANTOYO 188630 0 500 0 0 0 3500 0 18054 0 210684 0 0 0 COMPENSATION INFORMATION SCHEDULE J, PART I, QUESTION 7 AND CORE FORM, PART VII CERTAIN INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A BONUS DURING CALENDAR YEAR 2011 WHICH AMOUNTS WERE INCLUDED IN COLUMN B(II) HEREIN AND IN EACH INDIVIDUAL'S 2011 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. DAVID E RUDALL X 150000 75000 false true true 75000 DISCLOSURE INFORMATION CORE FORM, PART iii, QUESTION 3 As more fully noted in the explanation to Part III, Line 1 of this Form 990 (included in attachment # 1), the program services included, for the purpose of furthering Uncommon's tax-exempt purposes as well as the tax-exempt purposes of Uncommon's charter schools, helping to launch or otherwise assist with the formation and day-to-day operations of the charter schools. Support services included, but were not limited to: professional development; development and management of educational program and curriculum; training and recruitment of charter school personnel activities; fundraising service activities; facility maintenance and management activities; financial management activities; technology management activities; and special education service activities. These services were provided in exchange for a fee. The fees paid by the charter schools in exchange for these services were less than the cost of providing such services. DISCLOSURE INFORMATION CORE FORM, PART VI, SECTION a; QUESTION 4 THE ORGANIZATION UPDATED ITS MISSION DURING THE YEAR. PLEASE REFER TO THE UPDATED MISSION STATEMENT narrative for core form, part iii, line 1 included in schedule o. 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. THEREAFTER, 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. 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 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 ADOPTED A WRITTEN EXECUTIVE COMPENSATION PHILOSOPHY WHICH IT FOLLOWS 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 OFFICER, 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 FUNDS. 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 PERFORMANCE 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. OTHER CHANGES IN NET ASSETS CORE FORM, PART XI; LINE 5 OTHER CHANGES IN NET ASSETS OR FUND BALANCES INCLUDE: - NET UNREALIZED GAINS AND LOSSES ON INVESTMENTS - $12,504 - NET UNREALIZED LOSS ON LONG-TERM DEBT AT FAIR VALUE - ($574,271) 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, 2012 AND JUNE 30, 2011; 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. 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