2013-05-08T08:25:16-05:00 2012-06-30 861065772 Deloitte Tax LLP 250 East Fifth Street Suite 1900 Cincinnati OH 45202 990 2011-07-01 311321973 KnowledgeWorks Foundation KNOW 5139294777 One West Fourth Street No 200 Cincinnati OH 452023634 William L McNeese 5139294777 2013-05-07 1 Rebecca Lyons P01487105 5137847100 2011 2016-02-25 16:41:14Z Timothy C Tuff One West Fourth Street No 200 Cincinnati OH 452023634 24452880 0 X http://knowledgeworks.org/ X 1991 OH Create sustainable improvement in student readiness for college and careers. 13 11 112 0 0 0 4896566 4461731 16784618 18722514 2569 849 213266 1267786 21897019 24452880 1668092 1334315 0 0 10629940 13159754 0 0 113280 19753781 17990904 32051813 32484973 -10154794 -8032093 190763496 180038043 181739515 165577592 9023981 14460451 X KnowledgeWorks' mission is to create sustainable improvement in student readiness for college and careers. Through its portfolio of school and community approaches, KnowledgeWorks provides innovative tools, training and assistance to school leaders, teachers and community stakeholders. KnowledgeWorks supports student-centered approaches that deliver real learning and results. 0 0 3265368 0 1965527 EdWorks, LLCDuring fiscal year 2012, the EdWorks technical assistance team provided professional development for more than 500 teachers in 39 schools across 24 districts in six states, impacting a total of 14,396 students. Three distinct technical assistance models guide EdWorks' support to schools, including EdWorks New Start, EdWorks Fast Track and EdWorks' STEMLab. During FY2012, 40% of the sites implemented the EdWorks' New Start model and 58% implemented the EdWorks Fast Track model. Results included reduced dropout rates, increases in English language arts scores and a higher percentage of students on track for a 4-year high school graduation rate. In STEMLab sites, EdWorks' newest technical assistance model, students outperform their peers across the state, not just in mathematics and science, but in reading and social studies, as well. As signature elements of EdWorks' STEMLab strategy, students participate in hands-on, real world engineering design challenges with local STEM business and industry partners. 9836014 23000 7818999 New Technology Network, LLC (NTN)New Technology Network works nationwide with schools, districts and communities to develop innovative schools. NTN provides services and support that enable schools to fundamentally rethink teaching and learning. NTN's goal is to enable students to gain the knowledge and skills they need to succeed in life, college and the careers of tomorrow. The NTN design provides an instructional approach centered on project-based learning, a culture that empowers students and teachers, and integrated technology in the classroom. NTN's hands-on, multi-year approach gives schools structure and support to ensure long-term success. As of fiscal year-end, NTN's school portfolio included 115 schools in 18 states across the country, representing over 30,000 students and 2,200 teachers. 3264480 675753 561343 Strive: Cincinnati/Northern Kentucky, LLC (Strive)In its national Cradle to Career work, Strive reached the benchmark of having over 150 communities reach out for assistance in implementing collective impact initiatives using the Cradle to Career Civic Infrastructure framework. During the year, Strive saw 80 communities participate in its national network. Each community engages a variety of sectors, including education, youth development, philanthropy, civic, and business. Strive also embarked on the delivery of tools and resources to help communities better use data to drive decisions, including the Community Impact Report Card and the Student Success Dashboard. The Strive Partnership focused efforts on improving academic achievement in the Greater Cincinnati region's urban core and creating work groups around its shared outcomes to better align resources and funding. The Partnership realized success with coordinating volunteer recruitment through their initiative "Be the Change". The initiative recruits volunteer tutors from the business community and community at large to spend one hour a week tutoring an elementary student in Cincinnati Public Schools (CPS). The Partnership also worked with local school districts to incorporate the Learning Partner Dashboard, a data system that tracks the performance of students into the work of all resource coordinators within the districts. 10824362 635562 9599757 Included in the other program services are Ohio Education Matters, National Advocacy & State Cultivation, Organizational Learning & Innovation, Grantmaking and Student Lending, described below.Ohio Education Matters (OEM) - From July 2011 to June 2012, the OEM team worked with state leaders and education stakeholders to create more learning opportunities for students and more efficient delivery of education services. OEM helped state leaders think through new policies on the use of digital and blending learning that called for better use of technology to improve learning. OEM sponsored forums and events that brought national experts on digital learning to Ohio to meet with educators and stakeholders. In February, OEM sponsored Digital Learning Day activities to draw attention to the advantages of digital learning. To help promote efficiency in schools, OEM sponsored a statewide conference in November to share best practices of school districts that were identified as getting more for their money in non-instructional spending. KnowledgeWorks also continued support for the Ohio 8 school districts and union leaders to help promote collaboration, and continued to sponsor the Transformational Dialogue for Public Education - a multi-year initiative where education leaders and stakeholders come together on long-term strategies for state education improvement. National Advocacy & State Cultivation - From July 2011 to June 2012, KnowledgeWorks worked closely with policymakers and national organizations to drive demand for innovative learning environments. Throughout the year, KnowledgeWorks advised fourteen state departments of education on development and implementation of comprehensive school improvement systems. Conversations focused on flexibility and innovation within the federal School Improvement Grant program and development of new state accountability systems under the Obama Administration's Elementary and Secondary Education (ESEA) Act waiver package. Two KnowledgeWorks' publications released this year informed these conversations: - A Guide to School Improvement Grant Implementation and Transforming to a World of Learning: An ESEA State Waiver Strategy Document. KnowledgeWorks also engaged federal policymakers on a number of topics, helping shape the U.S. Senate Health, Education, Labor and Pensions Committee's bipartisan ESEA reauthorization bill, the School Improvement Grant Program, and the Race to the Top - District program. The release of KnowledgeWorks' first federal policy agenda in July 2011. - Transforming to A World of Learning: A Federal Policy Agenda, provided the framework for these discussions. In addition to shaping state and federal policy, KnowledgeWorks secured a $3 million Investing in Innovation (i3) Grant in partnership with the Riley Institute at Furman University to establish two STEM NTN schools in rural South Carolina along the underserved, underrepresented I-95 corridor. Organizational Learning & Innovation (OLI) - KnowledgeWorks' OLI group worked to create a vision for the future of learning and identify ways of taking action in the present that will help make that vision a reality. It distributed and conducted presentations on, and designed learning experiences around KnowledgeWorks' second future forecast, the 2020 Forecast: Creating the Future of Learning (http://futureofed.org/wp-content/uploads/2011/07/2020-Forecast.pdf). OLI researched and created the third futures publication, Recombinant Education; Regenerating the Learning Ecosystem. It is expected that more than 10,000 copies of the publication will be distributed in the first quarter of FY2013. OLI continued to impact the strategic planning processes of major national education organizations, including the Council of Chief State School Officers and Grantmaker's for Education. Grant-making - The Grant making program provided approximately $1.3 million of grant funding to 100 organizations.KnowledgeWorks and its subsidiary, KnowledgeFunding Ohio, served approximately 23,000 students during the fiscal year through its student lending programs. 10824362 635562 9599757 27190224 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 169 0 1 112 1 0 0 0 0 0 0 0 0 0 0 0 X 13 11 1 1 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X William L McNeese 5139291135 One West Fourth Street Suite 200 Cincinnati OH 452023634 Joseph P Tomain Esq 2.00 X 8600 2000 22000 Dr Jacquelyn M Belcher 2.00 X 14300 0 0 John E Dean Esq 2.00 X 0 0 13400 Dr Sherrill Cleland 2.00 X 12500 0 1000 Hon Nathaniel R Jones 2.00 X 11000 0 0 Lucie Lapovsky 2.00 X 0 0 11500 Steven Minter 2.00 X 0 0 12000 Richard W Riley Esq 2.00 X 52100 0 0 Eileen Rudden 2.00 X 0 0 0 Barry Schuler 2.00 X 0 0 0 Timothy Tuff 2.00 X 0 0 16200 Chad P Wick 40.00 X 492271 0 56100 Brian Ross 40.00 X X 425494 0 121722 Douglas Thomson 2.00 X 0 0 0 William L McNeese 40.00 X 227444 0 62674 Holly A Brinkman 40.00 X 175611 0 54129 Meredith Meyer 40.00 X 185143 0 39427 James Scott 40.00 X 171772 0 42504 Harold Brown 40.00 X 205045 0 36667 Lydia Dobyns 40.00 X 216524 0 58441 Matthew Barcus 40.00 X 193115 0 50537 Andrew Benson 40.00 X 156626 0 52906 Jeff Edmondson 40.00 X 154295 0 47620 Jillian Darwish 40.00 X 152136 0 50165 Christopher Walsh 40.00 X 133228 0 45636 Deborah Howard 40.00 X 119792 0 27609 3106996 2000 822237 23 0 1 0 Kohne O'Neill LLC 8160 Corporate Park Drive Cincinnati OH 45242 Student Loan Consulting 1133669 Logicalis PO Box 67000 Detroit MI 482671723 Technology Development & Support 892881 Frost Brown Todd LLC 301 E 4th Street Cincinnati OH 45201 Legal Services 344566 The Bridespan Group Inc 535 Boylston Street 10th Floor Boston MA 02116 Business Planning and Consulting 230000 Robinson Lerer & Montgomery 1345 Avenue of the Americas New York NY 10105 PR & Strategic Communications 200000 10 94279 4367452 4461731 Fees for Services 611710 10437570 10437570 Int on Student Loans 611710 6571250 6571250 KFO Admin Fee Income 611710 1415584 1415584 OH Centric Admin Fees 611710 298110 298110 18722514 849 849 Servicing Fee Income 611710 1069560 1069560 KWI Admin Fee Income 611710 83552 83552 Pledge Fee Income 611710 70000 70000 44674 44674 1267786 24452880 19945626 0 45523 1334315 1334315 3012197 1527149 1429264 55784 7660736 6483821 1134373 42542 785937 697270 86273 2394 981583 803461 172545 5577 719301 558507 153811 6983 318031 217586 100445 212670 62985 149685 82017 82017 4130069 3864145 265924 323795 227354 96441 521062 374687 146375 1082905 812275 270630 572810 278193 294617 2157567 2019202 138365 1267492 1203290 64202 3746420 3746420 598992 259796 339196 112909 833 112076 Cons Rebate Fees 1431473 1431473 Amortization Expense 672677 672677 Loan Svc/Trustee Fees 318254 318254 Student Loan Provision 37689 37689 404072 176825 227247 32484973 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Admin Fee Income Securities Litigation Income KWF Miscellaneous Income Non-profit Servicing Fee Revenues RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 82017 0 0 82017 0 Part IV, Supplemental Information: Part I-A and I-B: These sections are "Not Applicable" as KnowledgeWorks Foundation does not participate in or intervene in (including the publishing or distributing of statements), any political campaign on behalf of (or in opposition to) any candidate for public office. 1466145 533739 932406 1211672 1024713 186959 2355087 1653552 701535 1820900 Student Loan Receivables, Net of Unamortized Loan Acquisition Costs 141858413 C 141858413 Interest Rate Swap Agreement 1130563 Interest Payable 411230 1541793 Description of Uncertain Tax Positions Under FIN 48: Part X: On July 1, 2009, the Foundation adopted Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes, which prescribed a comprehensive model for how an organization should measure, recognize, present, and disclose in its financial statements uncertain tax positions that an organization has taken or expects to take on a tax return. The Foundation has analyzed tax positions taken for filing with the IRS and all state jurisdictions where it operates. The Foundation believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the Foundation's financial position, statement of activities, or cash flows. Accordingly, the Foundation has not recorded any reserves or related accruals for interest and penalties for uncertain income tax positions at June 30, 2012 and 2011. In the event interest and penalties accrued on unrecognized tax benefits, the Foundation would recognize such amounts as a component of income tax expense. 1 Akron City School District 70 N Broadway Akron OH 44308 346000033 Gov't Entity 20000 Challenge Grant Alliance for Excellent Education Inc 1201 Connecticut Avenue SW Washington DC 20036 113487339 501(c)(3) 25000 Digital Learning Day Arts Corps Headquarters 4408 Delridge Way SW Suite 110 Seattle WA 98106 912044679 501(c)(3) 112500 Fostering Creative Habits Bethel Baptist Church 2712 Alms Place Cincinnati OH 45206 311126074 501(c)(3) 47350 CDF Freedom School Cincinnati Federation of Teachers 2721 Central Parkway Suite 200 Cincinnati OH 45225 316083464 501(c)(5) 9000 Teacher Evaluation System Cincinnati Institute of Fine Arts DBA Artswave 20 E Central Parkway Suite 200 Cincinnati OH 45202 310537138 501(c)(3) 8547 Annual Campaign - Employer Contribution Cincinnati Public Schools 2651 Burnet Avenue Cincinnati OH 45219 316000758 Gov't Entity 20000 SSEP Cincinnati State Technical & Community College Foundation 3520 Central Parkway Cincinnati OH 45223 311430847 501(c)(3) 7500 One Life, Twelve Classrooms & Connect2success Cleveland Municipal School District 1380 East 6th Street Cleveland OH 44114 346000662 Gov't Entity 20000 Challenge Grant College Mentors for Kids 212 W 10th Street Suite B260 Indianapolis IN 46202 352002052 501(c)(3) 5450 College Mentors for Kids Community Center for Education Results 1200 Fifth Avenue Suite 1300 Seattle WA 981013151 271667560 501(c)(3) 25000 Road Map Project Community Research Partners 300 E Broad Street Suite 490 Columbus OH 43215 311690992 501(c)(3) 10000 Ohio Student Mobility Connected The California Center for College and Career 2150 Shattuck Suite 1200 Berkeley CA 94704 204781979 501(c)(3) 5500 Digital Learning Video Development Council of Chief State School Officers One Massachusetts Avenue NW Washington DC 20001 530198090 501(c)(3) 40000 Future of Learning & Sponsorship Council of Christian Communions of Greater Cincinnati 7030 Reading Rd Suite 642 Cincinnati OH 45237 310537082 501(c)(3) 7500 Be the Change Tutoring Covington Independent Schools 25 E Seventh Street Covington KY 41011 616001265 Gov't Entity 6100 IB Program at Holmes High School Covington Partners in Prevention PO Box 0426 Covington KY 41012 201515753 501(c)(3) 16000 Mentoring Program & Annual Meeting Sponsor End Zone Club 945 Smiley Ave Cincinnati OH 452401836 203337351 501(c)(3) 10333 End Zone Mentoring Envision Schools 436 14th Street Suite 920 Oakland CA 946122703 943394659 501(c)(3) 5500 Deeper Learning Video Expeditionary Learning Outward Bound Inc 247 W 35th Street 8th FL New York NY 10001 310537502 501(c)(3) 5500 Deeper Learning Video Grantmakers for Education 720 SW Washington Street Suite 605 Portland OR 97205 330919329 501(c)(3) 45000 Pathways Action Comm. Hamilton County Educational Service Center 11083 Hamilton Avenue Cincinnati OH 452311499 310967612 Gov't Entity 10000 Evaluation High Tech High 2861 Wombole Rd San Diego CA 921066025 330866869 501(c)(3) 5500 Deeper Learning Video Lighthouse Youth Services Inc 401 E McMillan Street Cincinnati OH 45206 237046229 501(c)(3) 23075 Lys Youth Mentoring & Beacon of Light Mayerson Academy for Human Resource Development 2650 Highland Avenue Cincinnati OH 45219 311366582 501(c)(3) 25000 Ascend Performance Institute Monroe Community College Foundation 1000 E Henrietta Road Rochester NY 14623 161204210 501(c)(3) 25000 Roc the Future Napa Valley Unified School District 2425 Jefferson Street Napa CA 94558 521550087 Gov't Entity 200000 NTHS Learning System NapaLearns PO Box 7057 Napa CA 94558 272705006 501(c)(3) 10000 Fall Conference Ohio Grantmakers Forum 37 W Broad Street Suite 800 Columbus OH 43215 311111842 501(c)(3) 15000 2012 General Operating Support Portland Schools Foundation 608G-ED PO Box 751 Portland OR 97207 931148789 501(c)(3) 15000 EPIN Grant/Cradle to Career Powerful Schools 3301 S Horton Street Seattle WA 98144 911551141 501(c)(3) 112500 Inspiring Minds St Aloysius Orphanage Foundation 4721 Reading Rd Cincinnati OH 45237 522415878 501(c)(3) 75000 Education & Training Center Talbert House 2600 Victory Parkway Cincinnati OH 452061711 311624973 501(c)(3) 6500 Family Thera Mentor Project Teach for America Inc 315 W 36th Street 8th Floor New York NY 10018 133541913 501(c)(3) 75000 Expansion - Southwest Ohio The Interalliance of Greater Cincinnati 10290 Alliance Rd Cincinnati OH 45242 208444742 501(c)(3) 12750 Techolympics Expo & IT Careers Camps Sponsor The Research Foundation of State of Univerity of New York PO Box 9 Albany NY 12201 141368361 501(c)(3) 35000 Building Civic Infrastructure Thomas B Fordham Institute 37 W Broad Street Suite 400 Columbus OH 43221 311816446 501(c)(3) 15000 Digital Learning United Way of Greater Cincinnati 2400 Reading Road Cincinnati OH 45202 310537502 501(c)(3) 12950 Year 3 - Social Innovation Fund & Leaders & Legends Sponsor University of Cincinnati Foundation PO Box 210061 Cincinnati OH 452210061 310896555 501(c)(3) 43567 Ohio STEM Ed Network, Higher Ed Mentoring & Matching Gift University of Houston College of Education 214A Farish Hall Houston TX 772045023 743400139 Gov't Entity 15000 EPIN - 3rd & 4th installments Whole Again International 4222 Hamilton Avenue Cincinnati OH 45223 043810137 501(c)(3) 68760 Children's Defense Fund 40 1 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: KnowledgeWorks Foundation uses the MicroEdge Gifts for Windows software system to maintain grantmaking records. Data tracked by KnowledgeWorks includes: date of request, eligibility of grantee, contact information, date grant was awarded or denied, grant purpose, grant budget, electronic copy of executed grant contracts and required financial reports and timing. The KnowledgeWorks Grants Administrator provides periodic reporting to Program Managers and follows up with grantees as required financial reporting is due. X 1 1 X X X X X X 0 1 0 0 0 0 0 1 0 Chad P Wick 397152 0 95119 0 0 0 39727 0 16373 0 548371 0 0 0 Brian Ross 354326 0 71168 0 0 0 93179 0 28543 0 547216 0 0 0 William L McNeese 189997 0 37447 0 0 0 36801 0 25873 0 290118 0 0 0 Holly A Brinkman 146588 0 29023 0 0 0 28077 0 26052 0 229740 0 0 0 Meredith Meyer 159138 0 26005 0 0 0 28676 0 10751 0 224570 0 0 0 James Scott 162078 0 9694 0 0 0 26882 0 15622 0 214276 0 0 0 Harold Brown 176706 0 28339 0 0 0 32114 0 4553 0 241712 0 0 0 Lydia Dobyns 186887 0 29637 0 0 0 35265 0 23176 0 274965 0 0 0 Matthew Barcus 165109 0 28006 0 0 0 30884 0 19653 0 243652 0 0 0 Andrew Benson 130746 0 25880 0 0 0 27380 0 25526 0 209532 0 0 0 Jeff Edmondson 132457 0 21838 0 0 0 23718 0 23902 0 201915 0 0 0 Jillian Darwish 122499 0 29637 0 0 0 23749 0 26416 0 202301 0 0 0 Christopher Walsh 122493 0 10735 0 0 0 20370 0 25266 0 178864 0 0 0 Part I, Line 1a The Foundation maintains memberships in a local social club in the name of the President & CEO and the Founder & Director. These memberships are business memberships for the benefit of the Foundation. As such, the monthly dues are paid by the Foundation. Any personal use is paid by the President & CEO or the Founder & Director. Part I, Line 4b Contribution to 457(f) Plan: Brian Ross, $53,452. The 457(f) Plan is a nonqualified retirement plan for the KnowledgeWorks Foundation CEO. Part I, Line 7 KnowledgeWorks Foundation offers an individual incentive based bonus program, where the annual payout is determined by achievement of established objectives. Form 990, Part VI, Section A, line 2 Certain KnowledgeWorks Foundation board members are also members of the boards of certain KnowledgeWorks Foundation affiliates. These overlapping board memberships constitute a "business relationship" as defined by the Form 990 instructions. Form 990, Part VI, Section A, line 3 KWSL LLC, a wholly owned subsidiary of KnowledgeWorks Foundation contracted with Kohne O'Neill LLC to administer its student lending programs. Form 990, Part VI, Section B, line 11 After completion by the preparer, the draft of the Form 990 is reviewed by the Controller and Chief Financial Officer. The final draft of the Form 990 is reviewed with the Audit Committee. After it receives the approval of the Audit Committee, the final Form 990 is distributed to all members of the Board of Directors before it is filed. Form 990, Part VI, Section B, line 12c On an annual basis the conflict of interest policy is distributed to the directors, officers and key employees along with a questionnaire that must be completed, signed and returned to legal counsel. Legal counsel reviews the questionnaire responses and advises management and the board of any required actions. Form 990, Part VI, Section B, line 15 The compensation of the CEO, other officers, and key employees are set by the Compensation Committee of the Board of Directors utilizing a compensation study performed by an independent compensation consulting firm comparing similar positions in similar organizations. Form 990, Part VI, Section C, line 19 The consolidated financial statements of KnowledgeWorks Foundation and its subsidiaries are available on the KnowledgeWorks Foundation website. KnowledgeWorks Foundation's Form 990 is also available on its website. The governing documents and conflict of interest policy are available upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Distribution of Investments from Exempt Subsidiary - KWI 11,261,300. Distribution of Funds from Exempt Subsidiary - New Tech Foundation 155,319. Unrealized Gain on Interest Rate Swap Agreement 640,821. Amortization of Discount on Student Loans 1,411,123. Total to Form 990, Part XI, Line 5: 13,468,563. KnowledgeWorks Intermediary LLC One West Fourth Street Suite 200 Cincinnati OH 452023634 311321973 Facilitate Receipt of Federal and State Grant Funds OH 0 200 KnowledgeWorks Foundation KWSL LLC One West Fourth Street Suite 200 Cincinnati OH 452023634 510560916 Directs Operations of SLW and KFO OH 3371914 2849687 KnowledgeWorks Foundation EdWorks LLC One West Fourth Street Suite 200 Cincinnati OH 452023634 272300265 Effective Long-Term High School Improvement Solutions OH 1985527 1299392 KnowledgeWorks Foundation Strive LLC One West Fourth Street Suite 200 Cincinnati OH 452023634 272300365 Implement Best Practices for Student Success OH 3230593 2104972 KnowledgeWorks Foundation New Technology Network LLC One West Fourth Street Suite 200 Cincinnati OH 452023634 270845123 Services & Support to Implement Innovative High Schools OH 8940768 2515927 KnowledgeWorks Foundation KWI One West Fourth Street Suite 200 Cincinnati OH 452023634 311776354 Supporting Organization OH Section 501(c)(3) Schedule A, Line 11a KnowledgeWorks Foundation 1 KnowledgeFunding Ohio Inc One West Fourth Street Suite 250 Cincinnati OH 452023634 201888000 Student Loan Acquisition OH Section 501(c)(3) Schedule A, Line 9 KnowledgeWorks Foundation 1 Student LendingWorks Inc One West Fourth Street Suite 285 Cincinnati OH 452023634 201887944 Student Loan Originator OH Section 501(c)(3) Schedule A, Line 9 KnowledgeWorks Foundation 1 New Technology Foundation 935 Clinton Street Napa CA 94559 680436871 Supporting Project Based Learning CA Section 501(c)(3) Schedule A, Line 11a KnowledgeWorks Foundation 1 0 0 1 0 1 0 0 0 0 0 1 0 1 1 0 1 1 0 KWI C 11261300 Actual Cash Transferred KWI E 7000000 Principal in Note KnowledgeFunding Ohio Inc (via KWSL LLC) K 1485584 Value Stated in Trust Agmt. New Technology Foundation (via New Tech Network LLC) K 214925 Actual Time & Expense KWI K 83552 Specific Allocated Expenses KWI P 162000 Actual Expenses New Technology Foundation (via New Tech Network LLC) P 155319 Actual Expenses KWI Q 304632 Interest in Note Related party transactions: Schedule R, Part V, Line 1: KnowledgeWorks has a $7 million note payable to KWI. Interest is paid annually on this note and is calculated per the note agreement. Services, including management and administration of activities, are provided by KnowledgeWorks Foundation to KnowledgeFunding Ohio, New Technology Foundation and KWI. KnowledgeFunding Ohio pays an administrative fee to KnowledgeWorks based on the administrative draw defined in the Indenture of Trust. Reimbursements from New Technology Foundation and KWI are based on actual time reported by employees and actual expenses. KWI transfers cash to KnowledgeWorks Foundation based on cash needs of the Foundation.