2012-05-11T17:32:48-05:00 2011-06-30 BERGER LEWIS ACCOUNTANCY CORP 55 ALMADEN BLVD STE 600 SAN JOSE CA 95113 990 2010-07-01 942434925 THE NHU FOUNDATION NHUF 4087292281 P O BOX 730453 SAN JOSE CA 951730453 MICHAEL RAMIREZ 4087292281 2012-04-26 1 LAWRENCE S KUECHLER 4084941200 2012-04-26 2010 2016-02-24 21:20:13Z EDWARD ALVAREZ P O BOX 730453 SAN JOSE CA 951730453 5987007 0 X WWW.NHUFOUNDATION.ORG X 1981 CA TO PROVIDE HISPANICS, OTHER MINORITIES, AND WOMEN AN OPPORUNITY TO ACQUIRE COLLEGE EDUCATION. 9 7 260 9 0 0 1490913 1051843 7874035 5723390 1417 98 2334645 -788324 11701010 5987007 0 0 0 0 6965933 2558635 0 0 0 4458990 3366581 11424923 5925216 276087 61791 21706522 21215046 14869539 14316272 6836983 6898774 X TO PROVIDE HISPANICS, OTHER MINORITIES, AND WOMEN AN OPPORTUNITY TO ACQUIRE AN UNDERGRADUATE DEGREE OR CERTIFICATE IN A MULTICULTURAL EDUCATIONAL ENVIROMENT. 0 1 3352564 3269951 LATINO COLLEGE PREPARATORY ACADEMY - IN AUGUST 2001, THE LATINO COLLEGE PREPARATORY ACADEMY ("LCPA") WAS GRANTED APPROVAL TO OPERATE AS A SECONDARY CHARTER SCHOOL IN THE EAST SIDE UNION HIGH SCHOOL DISTRICT OF SANTA CLARA COUNTY. THE MISSION OF THE LATINO COLLEGE PREPARATORY ACADEMY IS TO ENABLE UNDERSERVED HIGH SCHOOL ENGLISH LANGUAGE LEARNERS TO BECOME BI-LITERATE IN ENGLISH, SPANISH, MATHEMATICS, AND SCIENCE. THESE SKILLS WILL ENSURE THEIR ABILITY TO SUCCESSFULLY COMPLETE REQUIREMENTS FOR A HIGH SCHOOL DIPLOMA AND PURSUE POST-SECONDARY EDUCATIONAL OPPORTUNITIES OF THEIR CHOICE.LATINO COLLEGE PREPARATORY ACADEMY OFFERS A VARIETY OF SPECIALIZED PROGRAMS DESIGNED TO CATER TO ITS NEARLY 400 STUDENTS INCLUDING:EARLY UNIVERSITY PROGRAM (EUP) - A PROGRAM IN PARTNERSHIP WITH NATIONAL HISPANIC UNIVERSITY WHERE LCPA STUDENTS CAN TAKE COLLEGE-LEVEL COURSES AT THE UNIVERSITY.SEEDS - A NASA FUNDED PROGRAM THAT ENCOURAGES STUDENTS TO PURSUE MATH, SCIENCE, AND ENGINEERING CAREERS.EXTREME SCIENCE - A PROGRAM FUNDED BY THE NATIONAL SCIENCE FOUNDATION, IN PARTNERSHIP WITH IBM AND NASA, DESIGNED TO TEACH STUDENTS THE WAYS OF SCIENCE AND HOW TO BECOME CRITICAL THINKERS IN TODAY'S WORLD. 1388280 1170574 THE NHU FOUNDATION - TO PROVIDE INSTRUCTION, TRAINING AND TECHNICAL ASSISTANCE FOR INDIVIDUALS AT THE COLLEGE AND POST-GRADUATE LEVELS IN DEGREE AND NON-DEGRE PROGRAMS, TO OTHER ORGANIZATIONS AND TO PROMOTE MULTI-LINGUAL AND MULTI-CULTURAL SKILLS AND UNDERSTANDING IN THE COMMUNITY.AROUND 1,500 PERSONS WERE SERVED DURING THE YEAR. 380566 525582 EL NUEVO MUNDO - THE FOUNDATION CONTRACTED WITH THE CALIFORNIA DEPARTMENT OF EDUCATION ("CDE") TO OPERATE A CHILDCARE CENTER AND ADMINISTER A CHILDCARE FOOD PROGRAM IN THE CITY OF RICHMOND, CALIFORNIA. THIS CONTRACT WAS TERMINATED AS OF JANUARY 31, 2011 AND OPERATIONS OF CHILDCARE FOOD PROGRAM WERE TAKEN OVER BY INTERNATIONAL CHILD RESOURCE INSTITUTE BEGINNING FEBRUARY 1, 2011.100 PERSONS WERE SERVED DURING THE YEAR. 374466 -31041 GRANTS - THE FOUNDATION'S GRANTS 1) PROVIDE CURRICULAR SUPPORT TO HIGH SCHOOL STUDENTS, 2)SUPPORT IMPROVED INSTRUCTIONAL METHODS AND CURRICULUM TO TEACHERS AT THE HIGH SCHOOL LEVEL AND 3) DEVELOP SPECIAL EDUCATION CURRICULUM AND STUDENT SUPPORT AT THE POST-SECONDARY LEVEL.50 PERSONS WERE SERVED DURING THE YEAR. 374466 -31041 5495876 1 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 36 0 260 1 0 0 0 0 0 0 0 0 0 0 X 9 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 1 1 1 0 CA X CARLA LEON 4087292281 PO BOX 730453 SAN JOSE CA 951730453 EDWARD ALVAREZ 40.00 X X 80000 0 0 JOHN SOBRATO 2.00 X X 0 0 0 RAYMOND RUIZ 2.00 X X 0 0 0 RAMON JIMENEZ 2.00 X 0 0 0 JOE PARISI 2.00 X 0 0 0 HENRY MICHON 2.00 X 0 0 0 MARIA SCHABBING 2.00 X 0 0 0 MICHAEL WALKER 2.00 X 0 0 0 DAVID NEIGHBORS 2.00 X 0 0 0 MICHAEL RAMIREZ 40.00 X 72354 0 1915 DAVID LOPEZ TO APR 15 2010 40.00 X 37406 0 1915 189760 0 3830 0 0 0 0 0 971493 80350 1051843 STATE DEPARTMENT OF ED 611600 3714095 3714095 LEASE INCOME 531120 1685976 1685976 GOVERNMENT FOOD PRG 611710 294503 294503 PARENT FEES 611710 28816 28816 5723390 98 98 GAIN ON TRSFR TO LLC 611710 249837 249837 OTHER INCOME 611710 44113 44113 EQUITY - LOSS OF LLC 611710 -1082274 -1082274 -788324 5987007 4935066 0 98 192434 178964 13470 2016339 1803605 212734 224176 201005 23171 125686 112803 12883 58452 58452 47104 47104 464465 458037 6428 9719 9719 390014 363494 26520 10309 10103 206 826929 810193 16736 79702 79702 544072 544072 326486 326486 44823 33187 11636 FOOD PROGRAM 273646 273646 EARLY UNIV. EXPENSES 106000 106000 INDEMNIFICATION SETTLEM 78000 78000 LOSS ON SALE OF A/R 68346 68346 CONTRACT EXPENSE 38514 38514 5925216 5495876 429340 0 566665 210724 114150 7724 262439 356515 221268 160905 1050 28178 21414179 2249239 19453557 19164940 5119 1082274 0 1286060 21706522 21215046 1440186 941970 494246 100000 400000 12662656 12291052 172451 683250 14869539 14316272 X 5487086 6398774 421315 500000 928582 0 6836983 6898774 21706522 21215046 61791 0 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 750000 750000 750000 750000 750000 750000 0.33330 0.66670 0 0 5353371 5353371 16022939 2243212 13779727 37869 6027 31842 19164940 DEFERRED LEASE ASSET 1286060 1286060 DEFERRED LEASE REVENUE/LIABILITIES 404978 FINAL SETTLEMENT PAYABLE TO NHU, LLC 69190 EMPLOYEE DEFERRED COMPENSATION 125000 ACCRUED LEASE EXPENSE - SUB-LEASE 83743 DEFERRED LEASE LIABILITY - SUB-LEASE 339 683250 5987007 5925216 61791 0 61791 6819444 0 6819444 -832437 -832437 5987007 5925216 0 5925216 0 5925216 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PROVIDE ACCOUNTING AND DISCLOSURE GUIDANCE ABOUT POSITIONS TAKEN BY AN ORGANIZATION IN ITS TAX RETURNS THAT MIGHT BE UNCERTAIN. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN BY THE FOUNDATION IN ITS FEDERAL AND STATE EXEMPT ORGANIZATION TAX RETURNS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. THE FOUNDATION'S FEDERAL RETURNS FOR THE YEARS ENDED JUNE 30, 2010, 2009 AND 2008 COULD BE SUBJECT TO EXAMINATION BY FEDERAL TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. THE FOUNDATION'S STATE RETURNS FOR THE YEARS ENDED JUNE 30, 2010, 2009, 2008 AND 2007 COULD BE SUBJECT TO EXAMINATION BY STATE TAXING AUTHORITIES, GENERALLY FOR FOUR YEARS AFTER THEY ARE FILED. PART XII, LINE 4B - OTHER ADJUSTMENTS: GAIN ON TRANSFER OF ASSETS AND LIABLITIES TO NHU LLC 249,837. EQUITY IN NET LOSS OF NHU, LLC -1,082,274. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE ORGANIZATION HAS NOT USED NEWAPAPERS OR BROADCAST MEDIA IN A MANNER NECESSITATING PUBLICIZING THE NON-DISCRIMINATION POLICY. THE NON-DISCRIMINATION POLICY CAN BE FOUND ON THE WEBSITE, IN THE STUDENT HANDBOOK AND IN CATALOG MATERIALS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVED FUNDS FROM THE U. S. DEPARTMENT OF EDUCATION AND CALIFORNIA DEPARTMENT OF EDUATION TO SUPPORT THE SCHOOL OPERATIONS AND SUPPORT STUDENTS' TUITION. THE ORGANIZATION ALSO RECEIVES ONGOING GRANT AND APPORIONMENT FUND FROM THE CALIFORNIA DEPARTMENT OF EDUCATION TO SUPPORT OPERATIONS OF THE LATINO COLLEDGE PREPARATORY ACADEMY AND EL NUEVO MUNDO, AS WELL AS TO ASSIST WITH THE TUITION OF STUDENTS IN THESE PROGRAMS. JOHN SOBRATO TO PAY THE COMMITMENT FEE TO THE THE BANK FOR REFINANCING X 300000 300000 0 1 1 JOHN SOBRATO THIS WAS A WORKING CAPITAL LOAN. X 300000 100000 0 1 1 400000 NHU LLC THE NHU FOUNDATION HAS 20% INTEREST IN NHU, LLC 28333 ON APRIL 15, 2010, THE FOUNDATION CONTRIBUTED CERTAIN OPERATIONAL ASSETS AND LIABILITIES TO NHU, LLC IN EXCHANGE FOR A 20% OWNERSHIP INTEREST IN NHU, LLC. THE REMAINING 80% INTEREST IN NHU, LLC IS OWNED BY A SUBSIDIARY OF LAUREATE EDUCATION, INC. ("LAUREATE").SHARED SERVICES AGREEMENT - ON APRIL 15, 2010, THE FOUNDATION AND LAUREATE ENTERED INTO A SHARED SERVICES AGREEMENT. FOR THE YEAR ENDED JUNE 30, 2011 THE EXPENSE INCURRED UNDER THE SHARED SERVICES AGREEMENT WAS $28,333. 0 NHU LLC THE NHU FOUNDATION HAS 20% INTEREST IN NHU, LLC 311458 PRIME LEASE: THE FOUNDATION EXECUTED A LEASE AGREEMENT WITH LAUREATE FOR USE OF THE REAL PROPERTY OWNED BY THE FOUNDATION (THE "PRIME LEASE"). LAUREATE ENTERED INTO A SUBLEASE AGREEMENT WITH NHU, LLC, DATED APRIL 15, 2010, FOR A TERM OF 10 YEARS, SUBJECT TO THE SAME TERMS AS THE PRIME LEASE. FOR THE YEAR ENDED JUNE 30, 2011, INCOME EARNED BY THE NHU FOUNDATION UNDER THE PRIME LEASE WAS $311,458. 0 NHU LLC THE NHU FOUNDATION HAS 20% INTEREST IN NHU, LLC 400339 SUB-SUBLEASE: THE FOUNDATION THEN EXECUTED A SUB-SUBLEASE AGREEMENT (THE "SUB-SUBLEASE") WITH NHU, LLC, DATED APRIL 15, 2010, FOR A TERM OF 38.5 MONTHS, COVERING THE PORTION OF THE LAND AND BUILDINGS THAT THE FOUNDATION CONTINUES TO UTILIZE. FOR THE PERIOD FROM JULY 1, 2010 TO JUNE 30, 2011, EXPENSE INCURRED UNDER THE SUB-SUBLEASE WAS $400,339. 0 CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 THE FOUNDATION PREVIOUSLY OPERATED THE NATIONAL HISPANIC UNIVERSITY, A FULLY ACCREDITED FOUR-YEAR PRIVATE UNIVERSITY. ON APRIL 15, 2010, A BUSINESS COMBINATION TRANSACTION WAS COMPLETED, WHEREBY THE FOUNDATION CONTRIBUTED CERTAIN OPERATIONAL ASSETS AND LIABILITIES TO NATIONAL HISPANIC UNIVERSITY, LLC ("NHU, LLC") IN RETURN FOR A 20% INTEREST IN NHU, LLC. THE REMAINING 80% INTEREST IN NHU, LLC IS OWNED BY A SUBSIDIARY OF LAUREATE EDUCATION, INC. ("LAUREATE"). NHU, LLC ASSUMED CONTROL OF THE UNIVERSITY SEGMENT OF THE FOUNDATION AND ALL ACTIVITIES RELATED THERETO. FOLLOWING THE TRANSACTION, THE FOUNDATION CHANGED ITS NAME FROM THE NATIONAL HISPANIC UNIVERSITY TO THE NHU FOUNDATION. THE FOUNDATION RETAINED CONTROL OF LATINO COLLEGE PREPARATORY ACADEMY. THE FOUNDATION ALSO RETAINED CONTROL OF THE CHILDCARE CENTER, EL NUEVO MUNDO UNTIL JANUARY 31, 2011. THE FOUNDATION CURRENTLY PROVIDES A PROGRAM IN PARTNERSHIP WITH THE NATIONAL HISPANIC UNIVERSITY WHERE LATINO COLLEGE PREPARATORY ACADEMY STUDENTS CAN TAKE COLLEGE-LEVEL COURSES AT THE NATIONAL HISPANIC UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 11 MANAGEMENT REVIEWS THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12 THE ORGANIZATION IS IN THE PROCESS OF ESTABLISHING ANNUAL COMPLIANCE DOCUMENTATION. PROCEDURE WILL BE ADOPTED IN FY 2012-2013. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD DETERMINED THE COMPENSATION FOR THE CEO. THE CEO DETERMINES COMPENSATION FOR DIRECT REPORTS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE NHU LLC 14271 STORY ROAD SAN JOSE CA 951273823 TO PROVIDE EDUCATIONAL SERVICES CA 0 459843 0 0