2012-11-15T15:45:22-06:00 2012-06-30 951777440 GREEN HASSON & JANKS LLP 10990 WILSHIRE BLVD 16TH FLOOR LOS ANGELES CA 900243929 990 2011-07-01 841582086 POINT FOUNDATION POIN 3239331234 5757 WILSHIRE BLVD NO 370 LOS ANGELES CA 90036 JORGE VALENCIA 3239331234 2012-11-12 1 PATRIZIA C COPPING P00200096 3108731600 2011 2016-02-24 21:20:13Z JORGE VALENCIA 5757 WILSHIRE BLVD NO 370 LOS ANGELES CA 90036 5970079 0 X WWW.POINTFOUNDATION.ORG X 2001 CO TO GRANT SCHOLARSHIPS TO LESBIAN, GAY, BISEXUAL AND TRANSGENDER (LGBT) STUDENTS OF MERIT. 12 12 18 330 0 0 3463860 4300933 0 0 -20414 56523 0 0 3443446 4357456 568495 641009 0 0 1352983 1506933 0 0 453339 741870 996597 2663348 3144539 780098 1212917 6740021 7901066 158269 190811 6581752 7710255 X POINT FOUNDATION EMPOWERS PROMISING LGBTQ STUDENTS TO ACHIEVE THEIR FULL ACADEMIC AND LEADERSHIP POTENTIAL - DESPITE THE OBSTACLES OFTEN PUT BEFORE THEM - TO MAKE A SIGNIFICANT IMPACT ON SOCIETY. 0 0 2273914 641009 SCHOLARSHIP PROGRAM:THIS YEAR POINT WORKED WITH 71 CURRENT SCHOLARS AND 124 POINT ALUMNI. THE YEAR BEGAN WITH THE 2011 SCHOLAR & ALUMNI LEADERSHIP CONFERENCE. HELD IN OAK BROOK, ILLINOIS FROM JULY 21-25, 2011, THE CONFERENCE WAS ATTENDED BY OVER 150 PARTICIPANTS, INCLUDING 64 SCHOLARS, 47 ALUMNI, 27 REGENTS & TRUSTEES, AND 14 STAFF. SESSIONS INCLUDED A NEW SCHOLAR ORIENTATION, LGBT HISTORY, BISEXUALITY 101, OUT PROFESSIONALS MASTERS SESSION, LEADERSHIP MATTERS TRAINING, INTERNET ACTIVISM AND KEYNOTE ADDRESSES BY NATIONAL GAY & LESBIAN TASK FORCE EXECUTIVE DIRECTOR REA CAREY AND OSCAR-WINNING FILM PRODUCER BRUCE COHEN. THE ALUMNI RECEIVED ONE DAY OF SEPARATE SESSIONS FOCUSED ON LEADERSHIP AND WORK/LIFE BALANCE. TO FURTHER SUSTAIN THE LEADERSHIP COMPONENT OF THE SCHOLARSHIP PROGRAM, HALF WAY THROUGH THE FISCAL YEAR POINT HELD ONE-DAY REGIONAL LEADERSHIP FORUMS (RLFS) IN AUSTIN, BOSTON, CHICAGO, LOS ANGELES, NEW YORK CITY, SAN FRANCISCO, SEATTLE AND WASHINGTON, DC. THIS YEAR THE RLF'S WERE INFORMAL GATHERINGS OF POINT SCHOLARS, ALUMNI, REGENTS, MENTORS AND STAFF BUILT AROUND A GROUP MEAL AND SPEAKER. THE ACTIVITIES VARIED AT EACH RLF, BUT ALL WERE FOCUSED ON MENTORING AND COMMUNITY BUILDING EXERCISES. MENTORING PROGRAM:POINT MENTORS WERE SELECTED AND ASSIGNED TO EACH OF THE NEW SCHOLARS WHO JOINED POINT IN 2011/12. TRAINING AND SUPPORT FOR MENTORS WAS PROVIDED BY WAY OF OPEN FORUMS (CONFERENCE CALLS FOR THE MENTORS TO DISCUSS BEST PRACTICES AND SEEK ADVICE FROM EACH OTHER ON ANY SPECIFIC SITUATION THEY MAY BE EXPERIENCING WITH THEIR SCHOLAR), STAFF CHECK-IN CALLS AND "MENTORING MESSENGER", A NEWSLETTER FOR POINT'S MENTOR-SCHOLAR PAIRS. MENTORS WERE ALSO INVITED TO ATTEND THE ABOVE MENTIONED RLF'S WITH THEIR MENTEE. AGAIN THIS YEAR, THE MENTORS WERE ENCOURAGED TO TAKE AN ACTIVE ROLE IN ASSISTING THE SCHOLAR WITH THEIR COMMUNITY SERVICE PROJECT.LEADERSHIP TRAINING:POINT SCHOLARS DESIGNED, COORDINATED AND EXECUTED 70 COMMUNITY SERVICE PROJECTS THIS YEAR BENEFITING THE LGBT COMMUNITY. WORKING WITH THEIR POINT MENTORS, SCHOLARS DIRECTED THEIR SERVICE PROJECT EFFORTS TOWARD IMPROVING THE WELFARE OF THE LGBT COMMUNITY AND DEMONSTRATING THEIR LEADERSHIP SKILLS, BOTH OF WHICH HAVE ALWAYS BEEN AN INTEGRAL PART OF BEING A POINT SCHOLAR. THREE EXAMPLES OF THIS YEAR'S PROJECTS INCLUDED (1) ORGANIZING A FUNDRAISER ATTENDED BY 100 PEOPLE AND RAISING OVER $12,000 TO PROVIDE HOMELESS LGBTQ YOUTH OF CHICAGO WITH HOUSING STIPENDS, THE AMOUNT RAISED WAS ENOUGH TO PROVIDE FOUR YOUTHS WITH HOUSING FOR A YEAR; (2) RUNNING A CLOTHING DRIVE FOR TRANSGENDER YOUTH; AND (3) DEVELOPING AN ADAPTIVE SKILLS INTERVENTION FOR MARGINALIZED LGBT YOUTH TO INCREASE INDIVIDUAL RESOURCES WITH WHICH TO COPE. IN ADDITION, TO FURTHER ENHANCE THE IMPORTANCE OF COMMUNITY AND "GIVING BACK", POINT FOUNDATION, WORKING TOGETHER WITH A FUNDING FOUNDATION, OFFERED AND SUPERVISED AN LGBT NONPROFIT INTERNSHIP PROGRAM TO SCHOLARS WHO SUBMITTED PROPOSALS FOR SHORT-TERM, PAID WORK EXPERIENCE IN THE NOT-FOR-PROFIT LGBT SECTOR. THESE INTERNSHIPS WERE AWARDED TO THREE SELECT POINT SCHOLARS THIS YEAR. NEW SCHOLAR SELECTION:WHILE CURRENT SCHOLARS WORKED THEIR WAY THROUGH THE ACADEMIC YEAR, POINT WENT ABOUT THE BUSINESS OF SELECTING SCHOLARS FOR THE NEXT YEAR. AS PART OF ITS DRIVE TO FURTHER DIVERSIFY FUTURE CLASSES OF POINT SCHOLARS, POINT CONTINUED WITH AN OUTREACH PLAN SPECIFICALLY TARGETING UNDERREPRESENTED GROUPS IN THE LGBTQ COMMUNITY (E.G., WOMEN; STUDENTS OF COLOR; TRANSGENDER, GENDERQUEER, GENDER NON-CONFORMING STUDENTS; AND APPLICANTS WITH DISABILITIES). POINT ALSO INCREASED OUTREACH EFFORTS TO GEOGRAPHIC AREAS THAT ARE NOT WELL REPRESENTED IN POINT'S SCHOLARSHIP APPLICANT POOL. THESE OUTREACH EFFORTS RESULTED IN POINT MAINTAINING THE HIGH RACIAL AND ETHNIC DIVERSITY PERCENTAGE OF LAST YEAR'S SCHOLAR CLASS AND ACHIEVING GREATER DIVERSITY IN TERMS OF GENDER IDENTITY AND GEOGRAPHIC REPRESENTATION.1,977 SCHOLARSHIP APPLICATIONS WERE COMPLETED AND SUBMITTED TO POINT FOR THE 2012/13 ACADEMIC YEAR. AFTER AN INTENSIVE REVIEW PROCESS, 42 FINALISTS WERE BROUGHT TO SAN FRANCISCO FOR FINAL INTERVIEWS AND 29 NEW SCHOLARS ULTIMATELY WERE SELECTED.BY YEAR END, AN ADDITIONAL 21 POINT SCHOLARS HAD GRADUATED, BRINGING THE NUMBER OF POINT SCHOLAR ALUMNI TO 145. 2273914 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 16 0 18 1 0 0 0 0 0 1 1 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA AL AK AZ AR CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS NH NJ NM NY NC OH OK OR PA RI SC TN UT VA WA WV WI X X SCOTT ARNESON 3239331234 5757 WILSHIRE BLVD SUITE 370 LOS ANGELES CA 90036 BRUCE C LINDSTROM 30.00 X 0 0 0 CARL T STRICKLAND 10.00 X 0 0 0 ANN ADAMS 5.00 X 0 0 0 HERB HAMSHER PHD 10.00 X 0 0 0 KELLI SMITH- BAILEY 10.00 X 0 0 0 DAVID H STEWARD 15.00 X 0 0 0 KEVIN CHASE 10.00 X 0 0 0 SHELLEY FISCHEL 15.00 X X 0 0 0 JOHN PENCE 20.00 X X 0 0 0 KYLE SPAINHOUR 10.00 X X 0 0 0 MICHAEL POIRIER 10.00 X X 0 0 0 JOANNE HERMAN 15.00 X X 0 0 0 JORGE VALENCIA 60.00 X 238434 0 11220 SCOTT ARNESON 50.00 X 114050 0 14636 NANCI GLOGAUER 40.00 X 115496 0 4338 MICHAEL MARINO 40.00 X 105482 0 8246 573462 0 38440 4 0 1 0 0 571732 3729201 219150 4300933 65385 65385 1214222 1222289 795 -8067 -795 -8862 -8862 389539 571732 389539 0 4357456 0 0 56523 641009 641009 384836 246295 61574 76967 877058 561317 140329 175412 142389 91129 22782 28478 102650 65696 16424 20530 915 915 28286 28286 2080 2080 57811 30225 20030 7556 163462 74541 51795 37126 69933 47690 7646 14597 100691 61405 9386 29900 1971 1971 34105 23191 3752 7162 17803 12106 1958 3739 LEADERSHIP/ALUMNI CONF. 250543 250543 OTHER PROGRAM EXP. 101524 101524 PUBLIC AWARENESS/PROMO. 97681 56044 963 40674 LEADERSHIP TRAINING EXP 22397 11199 11198 47395 47395 3144539 2273914 417286 453339 834958 813569 1050161 1321364 1442737 2281721 63964 68171 294979 125468 52120 169511 3253434 3184422 42647 62308 6740021 7901066 158269 190811 158269 190811 X 2674437 2576736 2412005 3627486 1495310 1506033 6581752 7710255 6740021 7901066 X 1212917 -84414 X X 0 1 1 X 0 X 3491515 1883696 3395675 3463769 4300933 16535588 3491515 1883696 3395675 3463769 4300933 16535588 2410787 14124801 145022 113878 70075 61082 65385 455442 16991030 1747710 0.83130 0.86760 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3255334 638060 -5842 67451 3820101 2610112 129660 515562 3255334 2208624 133691 267797 2610112 2684846 2224 -478446 2208624 0.59000 0.35000 0.06000 0 0 15329 15329 0 279650 110139 169511 169511 4357456 3144539 1212917 -63069 -21345 -84414 1128503 4591668 318626 318626 4273042 84414 84414 4357456 3463165 318626 318626 3144539 0 3144539 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE PRIMARY LONG-TERM FINANCIAL OBJECTIVE FOR POINT'S ENDOWMENT IS TO PRESERVE THE REAL (INFLATION-ADJUSTED) PURCHASING POWER OF ENDOWMENT ASSETS. BOARD-DESIGNATED FUNDS HAVE BEEN ESTABLISHED FOR: (1) A SCHOLARSHIP FUND WHOSE INCOME WILL BE USED TO ESTABLISH A RESERVE FOR FUNDING FUTURE SCHOLARSHIPS OR POSSIBLE MID-YEAR INCREASES IN SCHOLARSHIP AWARDS, AND (2) AN ADMINISTRATIVE RESERVE USED FOR COVERING POSSIBLE UNAVOIDABLE OPERATING DEFICITS. THE BOARD OF DIRECTORS (AFTER CONSIDERATION OF A RECOMMENDATION OF POINT'S FINANCE COMMITTEE) WILL GENERALLY CONSIDER A TARGET SPENDING POLICY EQUAL TO APPROXIMATELY 5% OF THE ENDOWMENT'S AVERAGE THREE-YEAR PORTFOLIO VALUE. DISTRIBUTIONS FROM THE ENDOWMENT ARE MADE AT THE DISCRETION OF POINT'S BOARD OF DIRECTORS, INCLUDING DECISIONS TO MAKE NO DISTRIBUTIONS FROM THE ENDOWMENT, IF APPROPRIATE. PART XI, LINE 8 - OTHER ADJUSTMENTS: LOSS ON WRITE-OFF OF UNCOLLECTIBLE PLEDGES RECEIVABLE -21,345. PART XII, LINE 4B - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INVESTMENTS 63,069. LOSS ON WRITE-OFF OF UNCOLLECTIBLE PLEDGES RECEIVABLE 21,345. NY HONORS THE ARTS 540637 342636 198001 24004 79200 26903 67894 LA HONORS THE ARTS 253026 120294 132732 9149 28876 25912 68795 3 167608 108802 58806 14094 28179 150 16383 961271 571732 389539 47247 136255 52965 153072 389539 0 1 SCHOLARSHIP/STIPEND 88 641009 BOOK N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: APPLICANTS MUST COMPLETE AN ONLINE APPLICATION BY THE ANNOUNCED DEADLINE. THE APPLICATION INCLUDES SECTIONS FOR GENERAL, FAMILY AND CITIZENSHIP INFORMATION, ACADEMIC RECORD AND STANDARDIZED TEST SCORES, LEADERSHIP EXPERIENCE, LGBT COMMUNITY EXPERIENCE, FINANCIAL NEED, AND ESSAYS. EACH APPLICATION IS READ AND SCORED BY 2 TO 3 POINT FOUNDATION REGENTS, STAFF AND/OR PRE-QUALIFIED/APPROVED VOLUNTEERS. SCORES ARE BASED UPON RUBRICS DEVELOPED FOR THAT PURPOSE, AND READERS ARE TRAINED IN THEIR USE. THE APPLICANT POOL IS NARROWED DOWN TO A GROUP OF SEMI-FINALISTS WHO ARE ASKED TO SUBMIT ADDITIONAL SUPPLEMENTAL MATERIAL, INCLUDING LETTERS OF RECOMMENDATION AND OFFICIAL SCHOOL TRANSCRIPTS. THE PRE-SELECTIONS COMMITTEE MEETS TO REVIEW THE STRONGEST SEMI-FINALISTS AND RANK THE APPLICANTS. CANDIDATES SELECTED FOR FURTHER REVIEW ARE INTERVIEWED BY TELEPHONE, FROM WHICH PROCESS A POOL OF FINALISTS IS SELECTED. THOSE FINALISTS ARE THEN BROUGHT TO A FINAL SELECTION WEEKEND WHERE THEY ARE INTERVIEWED IN PERSON BY PANELS OF POINT REGENTS AND STAFF. ALL SCHOLARSHIP RECIPIENTS MUST SHOW PROOF OF ENROLLMENT IN AN ACCREDITED U.S. COLLEGE OR UNIVERSITY. TUITION AND CAMPUS HOUSING PAYMENTS ARE SENT DIRECTLY TO THE SCHOOL UPON SUBMISSION OF A TUITION INVOICE. A COPY OF THE LEASE MUST BE SUBMITTED BEFORE ANY OFF-CAMPUS RENT PAYMENTS ARE PROCESSED. RECEIPTS AND A CHECK REQUEST ARE REQUIRED FOR OTHER SCHOLARSHIP REIMBURSEMENTS, WHICH ARE REVIEWED AND APPROVED BY POINT'S CFO BEFORE REIMBURSEMENT. X X X X 0 0 0 0 0 0 0 0 0 JORGE VALENCIA 215250 0 23184 0 0 0 0 0 11220 0 249654 0 0 0 X 7 219150 FMV 0 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): NON CASH CONTRIBUTIONS ARE LISTED BY TOTAL NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11 THE FIRST DRAFT OF THE FORM 990 IS REVIEWED BY THE CFO. THE 990 IS THEN FORWARDED TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS THE 990 AND SUPPORTING DOCUMENTS AND DISCUSSES THE 990 AND ANNUAL AUDIT WITH THE INDEPENDENT AUDITORS. THE AUDIT COMMITTEE SUBMITS THE 990 AND THE ANNUAL AUDITED FINANCIAL STATEMENTS TO THE BOARD OF DIRECTORS (BOD) WITH A RECOMMENDATION OF ACCEPTING THE FORM 990 OR NOT. AFTER DISCUSSION AT A BOD MEETING, THE BOD VOTES TO ACCEPT OR REJECT THE 990. ONCE ACCEPTED, THE FINAL VERSION OF THE 990 IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AT THE BEGINNING OF EACH FISCAL YEAR, DIRECTORS, REGENTS, TRUSTEES AND EMPLOYEES READ AND SIGN-OFF ON POINT'S CONFLICT OF INTEREST POLICY, STATING THAT THEY WILL AVOID ACTIVITIES OR OUTSIDE INTERESTS THAT CONFLICT WITH THE BEST INTERESTS OF POINT FOUNDATION. THE POLICY ALSO REQUIRES THAT THEY FILE A CONFLICT OF INTEREST STATEMENT WITH THE EXECUTIVE DIRECTOR & CEO OF POINT EACH YEAR DISCLOSING ANY ANTICIPATED OR POSSIBLE CONFLICT SITUATIONS PRIOR TO ANY DISCUSSION OR NEGOTIATION OF THE TRANSACTIONS. POINT'S CHIEF OF STAFF COLLECTS, TRACKS AND REVIEWS THESE SIGNED FORMS. A LIST OF BUSINESSES AND/OR ORGANIZATIONS GATHERED FROM THE FORMS IS GIVEN TO THE CFO TO TRACK FINANCIAL DEALINGS THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE EMPLOYEE'S COMPENSATION IS NEGOTIATED AT THE BEGINNING OF THE TERM OF EACH MULTIYEAR CONTRACT RENEWAL; AT THAT TIME, THE BOARD OF DIRECTORS DOES A FULL REVIEW OF OTHER LIKE ORGANIZATIONS' SALARIES, USING IRS 990S, WHICH REVIEW INFORMS ITS OFFER AND APPROVAL OF THE EMPLOYMENT AGREEMENT. ANNUAL INCREASES ARE DETERMINED BY THE TERMS OF THE EMPLOYMENT AGREEMENT; ANNUAL BONUSES ARE DETERMINED BY A PERFORMANCE REVIEW COMPLETED BY THE BOARD OF DIRECTORS AT THE END OF EVERY FISCAL YEAR. THE EXECUTIVE DIRECTOR/CEO, ALONG WITH THE CHIEF OF STAFF, USE COMPARABLE DATA TO REVIEW AND APPROVE THE COMPENSATION OF OTHER EMPLOYEES. THE OVERALL COMPENSATION INCREASE IS APPROVED BY THE FINANCE COMMITTEE AND BOARD OF DIRECTORS AS PART OF THE ANNUAL BUDGET APPROVAL PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE FOLLOWING POLICIES ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE: CONFLICT OF INTEREST POLICY FOR REGENTS, TRUSTEES, STAFF, ALUMNI AND SCHOLARS; NON-DISCRIMINATION POLICY; AND PRIVACY POLICY. THE AUDITED FINANCIAL STATEMENTS, FORM 990 AND THE ANNUAL REPORT ARE ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -63,069. LOSS ON WRITE-OFF OF UNCOLLECTIBLE PLEDGES RECEIVABLE -21,345. TOTAL TO FORM 990, PART XI, LINE 5: -84,414. FINANCIAL STATEMENTS AND REPORTING FORM 990, PART XII, LINE 2C NO CHANGES WERE MADE TO THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR, AS COMPARED TO THE PRIOR TAX YEAR.