2013-01-29T10:06:22-06:00 2012-08-31 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2011-09-01 043365815 PARTNERSHIP FOR EXCELLENCE IN JEWISH EDUCATION INC PART 6173670001 88 BROAD STREET 6TH FLOOR BOSTON MA 02110 AMY KATZ 6173670001 2013-01-28 1 JOHN BUCKLEY CPA P00830631 5083669100 2013-01-28 2011 2016-02-25 16:41:14Z AMY KATZ 88 BROAD STREET 6TH FLOOR BOSTON MA 02110 1417004 0 X WWW.PEJE.ORG X 1997 MA THE PARTNERSHIP FOR EXCELLENCE IN JEWISH EDUCATION, INC., IS UNIQUELY POSITIONED TO ADVANCE THE JEWISH DAY SCHOOL FIELD THROUGH STRONG ADVOCACY, STRATEGIC CONVENINGS, COALITION BUILDING, AND THOUGHT LEADERSHIP. 12 12 28 0 0 0 1039950 1367334 412189 26025 22134 12922 25452 10723 1499725 1417004 81246 1028359 0 0 2288423 2108138 0 0 67115 1986047 1146946 4355716 4283443 -2855991 -2866439 6664184 3392435 443494 288184 6220690 3104251 X THE PARTNERSHIP FOR EXCELLENCE IN JEWISH EDUCATION, INC., (PEJE) BELIEVES THAT DAY SCHOOLS ARE ESSENTIAL FOR FOSTERING AN ENGAGED JEWISH PEOPLE FOR AN ENDURING FUTURE. PEJE CONNECTS AND EMPOWERS JEWISH DAY SCHOOLS AND MAJOR STAKEHOLDERS IN THE JEWISH COMMUNITY ACROSS THE DENOMINATIONAL AND GEOGRAPHIC SPECTRUM AND OFFERS UNPARALLELED KNOWLEDGE AND RESOURCES TO FOSTER FINANCIAL SUSTAINABILITY AND AFFORDABILITY. PEJE IS DEDICATED TO IMPACTING THE FIELD THROUGH BOLD INITIATIVES TO STIMULATE THE CORE REVENUE STREAMS OF ANNUAL CAMPAIGN, LEGACY, ENDOWMENT, AND TUITION AND TO BROADEN THE MARKET FOR DAY SCHOOL EDUCATION. 0 0 1425315 637500 10000 COACHING AND COLLABORATIONS - THROUGH COLLABORATION WITH COMMUNITY LEADERS AND OTHER JEWISH ORGANIZATIONS, PEJE HAS LEVERAGED ITS ROLE AS A THOUGHT LEADER. BECAUSE OF PEJE'S STEWARDSHIP, 240 SCHOOLS PARTICIPATED IN THE JDATA PROJECT, A CENTRAL DATA BANK AT BRANDEIS UNIVERSITY. PEJE HAS BECOME A CO-SPONSOR OF THE NORTH AMERICAN JEWISH DAY SCHOOL CONFERENCE, SPONSORING A SESSION FOR 100 ATTENDEES ON DEVELOPMENT, AND HOLDING ONE-ON-ONE CONSULTATIONS ON DEVELOPMENT, SOCIAL MEDIA, AND BRANDING. TOGETHER WITH THE ORTHODOX UNION, PEJE IS FUNDING THE NATIONAL DAY SCHOOL AFFORDABILITY PROJECT. TO FOSTER INNOVATIVE THINKING, PEJE AWARDED $625,000, IN GIFTS OF $25,000, TO THE 25 SCHOOLS THAT BEST IMPLEMENTED PROGRAMS WHICH INCREASED KEY REVENUE STREAMS OF EITHER TUITION, ANNUAL CAMPAIGN, OR ENDOWMENT AND LEGACY; RESPONDED TO THE MIDDLE-CLASS AFFORDABILITY CHALLENGE; AND/OR PRODUCED A BOLD ADVOCACY CAMPAIGN. THIRTY-SIX CALLERS TOOK ADVANTAGE OF THE PEJE LEADERSHIP LINE, A FREE, ONE-HOUR PHONE CALL WITH A PEJE COACH ON TOPICS RANGING FROM BOARD DEVELOPMENT TO HEAD SUPPORT/EVALUATION TO STUDENT RECRUITMENT/RETENTION. REGULAR WEBINARS ON FINANCIAL MANAGEMENT ENCOURAGE PEER-TO-PEER LEARNING. SCHOOLS ARE OFFERED SUBSIDIES AS AN INCENTIVE TO USE DATA ANALYSIS TOOLS. 802627 390859 0 ENDOWMENT & LEGACY - GENERATIONS, A THREE-YEAR PILOT TO HELP DAY SCHOOLS RAISE ENDOWMENT AND LEGACY FUNDS, WAS OFFICIALLY LAUNCHED WITH A PHASE-IN OF COMMUNITY PARTNERS IN LOS ANGELES, BALTIMORE, AND NEW YORK OVER THE COURSE OF THE YEAR. PEJE PROVIDES FINANCIAL AND MANAGEMENT OVERSIGHT OF THE PROGRAM, DEVELOPS MARKETING AND TRAINING MATERIALS, AND WORKS WITH EACH COMMUNITY TO SELECT PARTICIPATING SCHOOLS AND COACHES. THE 21 PARTICIPATING SCHOOLS RECEIVE INDIVIDUALIZED COACHING ON ENDOWMENT CAMPAIGNS; LOCAL AND NATIONAL TRAINING ON SOLICITATION AND STEWARDSHIP, MARKETING, IDENTIFYING PROSPECTS, AND ENDOWMENT BEST PRACTICES; AND ACCESS TO THE NATIONAL KNOWLEDGE AND RESOURCE CENTER. THE GOAL IS FOR EACH SCHOOL TO RAISE APPROXIMATELY $4K -- $6K PER STUDENT AFTER 3 YEARS. THE INITIAL SEVEN SCHOOLS TO TAKE PART IN THE PROGRAM LEVERAGED THE $180,000 INVESTMENT BY THEIR COMMUNITY TO RAISE $2.5 MILLION. SCHOOLS NOT PARTICIPATING IN GENERATIONS HAVE ACCESS TO ON-LINE MATERIALS AND STAFF SUPPORT THROUGH THE ENDOWMENT AND LEGACY INSTITUTE WHICH DISSEMINATES BEST PRACTICES IN ENDOWMENT FUNDRAISING. DURING 2012, 15 SCHOOLS RECEIVED GUIDANCE FROM PEJE STAFF IN SUPPORT OF THEIR ENDOWMENT EFFORTS. 492137 0 26025 ANNUAL CAMPAIGN - WORKING ACROSS THE FIELD AND THROUGH COMMUNITY PARTNERSHIPS, PEJE IS PROFESSIONALIZING DAY SCHOOL FUNDRAISING EFFORTS TO INCREASE THE LEVEL OF CONTRIBUTORS AND CONTRIBUTIONS. FIFTY-FOUR SCHOOLS USED THE DEVELOPMENT SELF-ASSESSMENT TOOL (DSAT) WHICH HIGHLIGHTS THE STRENGTHS OF A SCHOOL'S DEVELOPMENT PROGRAM AND TARGET AREAS FOR GROWTH. SEVENTY-ONE PROFESSIONALS FROM 31 SCHOOLS TOOK PART IN A DEVELOPMENT INTENSIVE SHORT COURSE AIMED AT HELPING PARTICIPANTS CREATE A DEVELOPMENT PLAN FOR THEIR SCHOOLS.PEJE LAUNCHED THE MARKETING OF A MATCH PROGRAM IN JULY, 2012, GIVING DONORS AN OPPORTUNITY TO LEVERAGE A GIFT OF $10,000 OR MORE AT A MATCHING RATE OF 50 CENTS TO THE DOLLAR. WITHIN THE FIRST TWO MONTHS, 131 SCHOOLS INDICATED AN INTEREST IN THE PROGRAM AND 23% OF THE MATCHING POOL HAD BEEN USED.OVER 350 INDIVIDUALS PARTICIPATE IN REGULARLY SCHEDULED DEVELOPMENT WEBINARS TO ENCOURAGE PEER-TO-PEER LEARNING. AT THE COMMUNITY LEVEL, PEJE CONDUCTED A LEADERSHIP FUNDRAISING ACADEMY (LFA) FOR DEVELOPMENT PROFESSIONALS AND LAY LEADERS IN THE MONTREAL COMMUNITY; CONDUCTED FACE-TO-FACE COMMUNITIES OF PRACTICE TO ENCOURAGE PEER-TO-PEER LEARNING IN BOSTON (7 SCHOOLS) AND TORONTO (10 SCHOOLS); AND CONTINUED ITS PARTNERSHIP WITH LOS ANGELES AREA SCHOOLS WHICH ARE REPORTING A 10% INCREASE IN THEIR ANNUAL GIVING SUBSEQUENT TO THE LFA CONDUCTED IN THEIR COMMUNITY. 776469 0 723 IN ORDER TO MAKE A JEWISH DAY SCHOOL EDUCATION ACCESSIBLE TO ALL OF THE FAMILIES WITHIN BERGEN COUNTY, NJ, PEJE WORKED WITH JEWISH EDUCATION FOR FUTURE GENERATIONS (JEFG) TO CREATE A CASE FOR A COMMUNITY FUNDING MODEL. PEJE WORKED WITH THE NORTHERN CALIFORNIA CONSORTIUM OF JEWISH DAY SCHOOL HEADS TO DEVELOP A STRATEGY TO "ENERGIZE THE BASE" OF CURRENT SUPPORTERS AND EXPAND THE NETWORK THROUGH AIPAC-STYLE EVENTS AND ORGANIZING. PEJE LAUNCHED A SERIES OF BLOGS TO DISSEMINATE INFORMATION TO THE FIELD. IT WORKED WITH SCHOOLS INDIVIDUALLY AND IN GROUPS TO CREATE ELEVATOR PITCHES FOR THEIR SCHOOLS AND DEVELOP THEIR OWN SOCIAL MEDIA PROGRAMS ON FACEBOOK AND TWITTER. PEJE ENABLED 30 DAY SCHOOLS TO ATTEND THE ASSOCIATION OF INDEPENDENT SCHOOL ADMISSION PROFESSIONALS CONFERENCE BY SECURING A REDUCED RATE AND SUBSIDIZING THE REMAINING FEE. REGULAR WEBINARS ENCOURAGE PEER-TO-PEER LEARNING IN BEST PRACTICES FOR ADMISSION PROFESSIONALS. 776469 723 3496548 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 1 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 0 1 40 0 28 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X JANET GELBART 6173670001 88 BROAD STREET 6TH FLOOR BOSTON MA 02110 DEBORAH SWARTZ 1.00 X 0 0 0 BOBBY LENT 1.00 X 0 0 0 MICHAEL BOHNEN 1.00 X X 0 0 0 BRADFORD KLATT 1.00 X 0 0 0 STEVE BERMAN 1.00 X 0 0 0 NANCY HAMBURGER 1.00 X 0 0 0 GAIL NORRY 1.00 X 0 0 0 PAMELA ROHR 1.00 X 0 0 0 JIM JOSEPH FOUNDATION - AL T LEVITT 1.00 X 0 0 0 AVI CHAI FOUNDATION - L MERKIN 1.00 X 0 0 0 SCHWARTZ FAMILY FOUNDATION-SSCHWART 1.00 X 0 0 0 SHAPELL FAMILY FOUNDATION -R SHAPEL 1.00 X X 0 0 0 HAROLD GRINSPOON FOUND - DTRODERMAN 1.00 X X 0 0 0 RABBI JOSHUA ELKIN 40.00 X 277763 0 108550 AMY KATZ 36.00 X 204207 0 28239 JANET GELBART 40.00 X 120591 0 16667 602561 0 153456 3 0 1 0 MEASURING SUCCESS LLC 86A SHERMAN STREET CAMBRIDGE MA 02141 DATA ANALYSIS TOOLS AND SUPPORT 158711 1 1367334 1367334 PROGRAM FEES 900099 26025 26025 26025 12922 12922 MISCELLANEOUS INCOME 900099 10723 10723 10723 1417004 36748 0 12922 1003359 1003359 25000 25000 680149 181221 498928 1151223 1049145 57093 44985 17159 15426 1733 111945 102451 4386 5108 147662 100341 43394 3927 1963 1625 338 24714 24714 52959 45477 5955 1527 78589 67639 8831 2119 195013 161955 25131 7927 95858 86644 9180 34 31012 25279 5733 23201 19269 2989 943 CONSULTANTS 564442 559741 4246 455 OTHER 43081 38497 4531 53 TEMP HELP AND CONTRACT 36114 13479 22598 37 4283443 3496548 719780 67115 2217 819 3698617 2776090 2798000 450000 50412 68304 65752 53637 201816 158231 49186 43585 6664184 3392435 183568 226844 230110 31518 29816 29822 443494 288184 X 3117986 2604251 3102704 500000 6220690 3104251 6664184 3392435 X -2866439 -250000 X X 0 1 1 X 0 X 6297352 2761024 1288503 -237390 1115334 11224823 6297352 2761024 1288503 -237390 1115334 11224823 4990927 6233896 80077 22337 19839 22134 12922 157309 5042 1718 25452 10723 42935 11425067 1368587 0.54560 0.49510 X SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: PART II, SECTION A, LINE 1 - THE 2010 GRANTS AND CONTRIBUTIONS AMOUNT IS NEGATIVE DUE TO A REDUCTION MADE BY A DONOR TO HIS PRIOR YEAR PLEDGE. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9029 4514 4515 164362 139504 24858 28425 14213 14212 43585 DEFERRED RENT 29822 29822 1417004 4283443 -2866439 -250000 -250000 -3116439 1417004 0 1417004 0 1417004 4283443 0 4283443 0 4283443 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ORGANIZATION FOLLOWS THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARD, WHICH REQUIRES THE ORGANIZATION TO REPORT UNCERTAIN TAX POSITIONS, RELATED INTEREST AND PENALTIES, AND TO ADJUST ITS ASSETS AND LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS AND ACCRUED INTEREST AND PENALTIES ACCORDINGLY. AS OF AUGUST 31, 2012, THE ORGANIZATION DETERMINED THAT THERE ARE NO MATERIAL UNRECOGNIZED TAX BENEFITS TO REPORT. INFORMATION RETURNS FILED FOR THE PRIOR THREE YEARS REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND THE COMMONWEALTH OF MASSACHUSETTS. THE ORGANIZATION DOES NOT EXPECT THAT THE AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL CHANGE SIGNIFICANTLY WITHIN THE NEXT TWELVE MONTHS. PART XI, LINE 8 - OTHER ADJUSTMENTS: FY 2012 REDUCTION OF DONOR PLEDGES MADE AND RECORDED IN PRIOR YEARS. -250,000. 1 0 0 0 0 0 0 0 0 0 X CANADA CHALLENGE GRANT 25000 CHECK 1 0 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: SCHOOL WAS ONE OF 25 IN NORTH AMERICA SELECTED FOR ITS INNOVATIONS IN FINANCIAL SUSTAINABILITY BASED ON APPLICATION AND SUBSTANTIATING DATA. 1 AKIVA SCHOOL OF NASHVILLE 809 PERCY WARNER BLVD NASHVILLE TN 37205 620694534 3 25000 CHALLENGE GRANT BETH TFILOH DAHAN COMMUNITY SCHOOL 3300 OLD COURT ROAD BALTIMORE MD 21208 528230036 3 25000 CHALLENGE GRANT BOSTON'S JEWISH COMMUNITY DAY SCHOOL 57 STANLEY AVE WATERTOWN MA 02472 043278141 3 25000 CHALLENGE GRANT BUILDERS OF JEWISH EDUCATION 6505 WILSHIRE BLVD SUITE 300 LOS ANGELES CA 90048 954280178 3 172493 GENERATIONS GRANT COMMUNITY DAY SCHOOL 6424 FORWARD AVE PITTSBURGH PA 15217 250969468 3 12500 CHALLENGE GRANT HANNAH SENESH COMMUNITY DAY SCHOOL 342 SMITH STREET BROOKLYN NY 11231 203330699 3 25000 CHALLENGE GRANT HILLEL ACADEMY OF PITTSBURGH 5685 BEACON STREET PITTSBURGH PA 15217 251067130 3 12500 CHALLENGE GRANT HOCHBERG PREPARATORY 20350 NE 26TH AVE NORTH MIAMI BEACH FL 33180 592750308 3 25000 CHALLENGE GRANT JEWISH DAY SCHOOL OF METROPOLITAN SEATTLE 15743 NE 4TH ST BELLVUE WA 88008 911085790 3 25000 CHALLENGE GRANT JEWISH PRIMARY DAY SCHOOL OF THE NATION'S CAPITAL 6045 16TH STREET NW WASHINGTON DC 20011 522115715 3 25000 CHALLENGE GRANT KELLMAN BROWN ACADEMY 1007 LAUREL OAK RD VOORHEES NJ 08043 582674116 3 25000 CHALLENGE GRANT KING DAVID HIGH SCHOOL 12753 NORTH SCOTTSDALE ROAD SCOTTSDALE AZ 85254 860765009 3 25000 CHALLENGE GRANT LANDER-GRINSPOON ACADEMY 257 PROSPECT STREET NORTHAMPTON MA 01060 043304825 3 25000 CHALLENGE GRANT METROWEST JEWISH DAY SCHOOL 29 UPPER JOCELYN AVENUE FRAMINGHAM MA 01701 043573528 3 25000 CHALLENGE GRANT MILWAUKEE JEWISH DAY SCHOOL INC 6401 N SANTA MONICA BLVD MILWAUKEE WI 53217 391384843 3 25000 CHALLENGE GRANT OAKLAND HEBREW DAY SCHOOL 5500 REDWOOD ROAD OAKLAND CA 94619 943141287 3 25000 CHALLENGE GRANT PARDES JEWISH DAY SCHOOL 3916 EAST PARADISE LANE PHOENIX AZ 85032 860969657 3 12500 TO MATCH SCHOLARSHIP FUNDS IT RAISED ROBERT M BEREN ACADEMY 11333 CLIFFWOOD DR HOUSTON TX 77035 741652136 3 25000 CHALLENGE GRANT SAR ACADEMY 655 WEST 254 ST RIVERDALE NY 10471 132646185 3 25000 CHALLENGE GRANT SEATTLE JEWISH COMMUNITY SCHOOL 12351 9TH AVE NE SEATTLE WA 98125 911484966 3 25000 CHALLENGE GRANT THE AGNON SCHOOL 26500 SHAKER BLVD BEACHWOOD OH 44122 341043767 3 25000 CHALLENGE GRANT THE ASSOCIATED 101 WEST MOUNT ROYAL AVE BALTIMORE MD 21201 520607957 3 151196 GENERATIONS GRANT THE DAY SCHOOL AT BALTIMORE HEBREW 7401 PARK HEIGHTS AVE BALTIMORE MD 21208 521843623 3 25000 CHALLENGE GRANT THE RAMAZ SCHOOL 114 EAST 85TH ST NEW YORK NY 10028 131635279 3 25000 CHALLENGE GRANT UJA-FEDERATION NEW YORK 130 EAST 59TH ST NEW YORK NY 10022 510172429 3 67170 GENERATIONS GRANT VALLEY BETH SHALOM HAROLD M SCHULWEIS DAY SCHOOL 15739 VENTURA BLVD ENCINO CA 91436 951890769 3 25000 CHALLENGE GRANT THE WEBER SCHOOL - DORIS AND ALEX WEBER JEWISH COMMUNITY HIGH SCHOOL 6751 ROSSWELL ROAD ATLANTA GA 30328 582207154 3 25000 CHALLENGE GRANT WEIZMANN DAY SCHOOL 1434 N ALTADENA DRIVE PASADENA CA 91107 953856805 3 25000 CHALLENGE GRANT YESHIVA UNIVERSITY HIGH SCHOOL OF LOS ANGELES 9760 W PICO BLVD LOS ANGELES CA 90035 421746735 3 25000 CHALLENGE GRANT 29 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: CHALLENGE AWARD WINNERS WERE SELECTED FOR INNOVATIONS IN FINANCIAL SUSTAINABILITY BASED ON APPLICATIONS AND SUBSTANTIATING DATA. GENERATIONS GRANTS WERE MATCHING FUNDS TO COMMUNITIES PARTICIPATING IN A PILOT PROGRAM FOR RAISING ENDOWMENT AND LEGACY GIFTS. MATCHING SCHOLARSHIP FUNDS WERE AWARDED BASED ON CERTIFICATION FROM THE HEAD OF SCHOOL THAT THE FUNDS WERE RAISED AS ADDITIONAL SCHOLARSHIP SUPPORT FOR STUDENTS FROM A SCHOOL WHICH HAD BEEN DISBANDED. X 1 0 X X X X 1 0 0 0 0 0 0 0 0 RABBI JOSHUA ELKIN 277763 0 0 0 0 0 40795 0 67755 0 386313 0 0 0 AMY KATZ 204207 0 0 0 0 0 6228 0 22011 0 232446 0 0 0 PART I, LINE 4A RABBI JOSHUA ELKIN RECEIVED $157,524 IN SEVERANCE AND $29,474 IN SEVERANCE BENEFITS IN FY 2012 UNDER A SEVERANCE AGREEMENT. HE LEFT THE ORGANIZATION IN SEPTEMBER 2011. SUPPLEMENTAL INFORMATION PART III FORM 990, SCHEDULE J, LINE 2: THE HOUSING ALLOWANCE IS A PARSONAGE ALLOWANCE, THE AMOUNT OF WHICH WAS ON RABBI JOSHUA ELKIN'S CONTRACT. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PRESENTED TO THE AUDIT COMMITTEE BY THE AUDITORS AND WAS THEN REVIEWED IN DETAIL BY THE COMMITTEE. IT WAS THEN PROVIDED TO THE ENTIRE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY AND ANNUAL SIGNOFFS ARE FOLLOWED UP ON BY THE DIRECTOR OF FINANCE, WHO REPORTS RESULTS TO COMPLIANCE OFFICER. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS IS RESPONSIBLE FOR ESTABLISHING THE COMPENSATION PACKAGE FOR THE EXECUTIVE DIRECTOR BASED ON COMPARABLE DATA FOR HEADS OF MAJOR NATIONAL JEWISH FOUNDATIONS. A COMMITTEE CONSISTING OF THE BOARD CHAIR, TREASURER, AND MEMBERS OF THE FINANCE COMMITTEE WILL REVIEW THE COMPENSATION PACKAGE ON AN ANNUAL BASIS. RECOMMENDATIONS OF THE COMPENSATION COMMITTEE WILL BE SUBMITTED TO THE FULL BOARD FOR APPROVAL. PERFORMANCE REVIEWS WILL BE CONDUCTED ANNUALLY BY A SEPARATE COMMITTEE OF THE BOARD TO BE APPOINTED BY THE CHAIR, AND WILL BE DISCUSSED BY THE FULL BOARD AT ITS ANNUAL MEETING EACH OCTOBER. FORM 990, PART VI, SECTION C, LINE 19 THIS INFORMATION IS AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: FY 2012 REDUCTION OF DONOR PLEDGES MADE AND RECORDED IN PRIOR YEARS. -250,000. TOTAL TO FORM 990, PART XI, LINE 5: -250,000. FORM 990, PART XII, LINE 2C THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT ACCOUNTANT. FORM 990 NOTE: IN ACCORDANCE WITH GAAP, PEJE RECORDS MULTI-YEAR PLEDGES IN THE YEAR AN UNCONDITIONAL COMMITMENT IS MADE AND RELEASES THE REVENUE FOR USE IN ITS OPERATING BUDGET IN THE YEAR FOR WHICH THE CONTRIBUTION IS INTENDED. FOR FISCAL YEAR 2012, PEJE RECORDED OPERATING REVENUES OF $3,769,708 AND OPERATING EXPENSES OF $4,283,443, RESULTING IN A NET LOSS IN ITS OPERATING FUND OF $513,735. THE OPERATING LOSS WAS FUNDED FROM EXISTING OPERATING RESERVES WHILE THE ORGANIZATION TRANSITIONS TO A MORE ROBUST FUNDING MODEL. BECAUSE THE 990 IS PREPARED ON THE BASIS OF TOTAL REVENUES AND EXPENSES, THE REVENUE AMOUNTS SHOWN ON PART I AND PART VIII DO NOT REFLECT THE RELEASE OF PLEDGES RECOGNIZED AS TEMPORARILY RESTRICTED REVENUE IN PRIOR YEARS. AS A RESULT, THE 990 STATEMENTS REFLECT NET LOSSES FOR THE YEAR OF $3,116,439.