2012-05-14T16:19:49-05:00 2011-06-30 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2010-07-01 522099612 THE SEED PUBLIC CHARTER SCHOOL OF WASHINGTON DC SEED 2022487773 4300 C STREET SE WASHINGTON DC 20019 THOMAS JEFFREY POSEY 2022487773 2012-05-14 1 WILLIAM E TURCO CPA 3012963600 2010 2016-02-24 21:20:13Z CHARLES B ADAMS 4300 C STREET SE WASHINGTON DC 20019 13725222 0 X WWW.SEEDFOUNDATION.COM X 1998 DC THE SEED PUBLIC CHARTER SCHOOL OF WASHINGTON, DC IS A PUBLIC COLLEGE-PREPARATORY BOARDING SCHOOL WHOSE PRIMARY MISSION IS TO PROVIDE AN OUTSTANDING, INTENSIVE EDUCATIONAL PROGRAM THAT PREPARES CHILDREN, BOTH ACADEMICALLY AND SOCIALLY, FOR SUCCESS IN COLLEGE. 14 12 195 58 0 0 1634375 1346921 11798484 12339709 14500 7132 16843 31460 13464202 13725222 0 0 0 0 8059553 8418568 0 0 98755 5414822 5259679 13474375 13678247 -10173 46975 25255833 24521572 9613753 8744659 15642080 15776913 THE SEED PUBLIC CHARTER SCHOOL OF WASHINGTON, DC IS A PUBLIC COLLEGE-PREPARATORY BOARDING SCHOOL WHOSE PRIMARY MISSION IS TO PROVIDE AN OUTSTANDING, INTENSIVE EDUCATIONAL PROGRAM THAT PREPARES CHILDREN, BOTH ACADEMICALLY AND SOCIALLY, FOR SUCCESS IN COLLEGE. 0 0 12374248 12339709 PROVIDE OUTSTANDING INTENSIVE RESIDENTIAL EDUCATION PROGRAM THAT PREPARES CHILDREN, BOTH ACADEMICALLY AND SOCIALLY, FOR SUCCESS IN COLLEGE. 12374248 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 15 0 1 195 1 0 0 0 0 0 0 0 0 0 0 X 14 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X THOMAS J POSEY 2022487773 4300 C STREET SE WASHINGTON DC 20019 VASCO F FERNANDES 2.00 X X 0 0 0 ERIC ADLER 2.00 X 0 168834 18643 RAJIV VINNAKOTA 2.00 X 0 181824 18643 LISA BERNSTEIN 2.00 X 0 0 0 BROOKE COBURN 2.00 X 0 0 0 TERRY DIGGS 2.00 X 0 0 0 HENRY O'CONNOR 2.00 X 0 0 0 MARINA OTTAWAY 2.00 X 0 0 0 PENELOPE PESKOWITZ 2.00 X 0 0 0 KENNETH SLAUGHTER 2.00 X 0 0 0 DAVID STEINBERG 2.00 X 0 0 0 CLARICE DIBBLE WALKER 2.00 X 0 0 0 DR JOSEPH WRIGHT 2.00 X 0 0 0 KATRINA LEWIS BROWN 2.00 X 0 0 0 CHARLES B ADAMS 40.00 X 205224 0 14058 GEORGE BOATENG 40.00 X 112979 0 14127 THOMAS POSEY 40.00 X 90232 0 12929 408435 350658 78400 2 0 1 0 MERIWETHER GODSEY 4944 OLD BOOSBORO ROAD LYNCHBURG VA 24503 CATERING SERVICES 805750 NORTH STAR GENERAL CONTRACTORS 4408 BOWEN ROAD SE WASHINGTON DC 20019 CONSTRUCTION SERVICES 286888 A&D SECURITY 10705 ALYSSA LANE WALDORF MD 20603 SECURITY SERVICES 182746 CHILDREN'S NATIONAL MEDICAL CENTER 111 MICHIGAN AVE NW WASHINGTON DC 20010 MEDICAL SERVICES 112644 QUALITY TOUCH 1235 KENILWORTH AVENUE NE 6 WASHINGTON DC 20019 CLEANING SERVICES 112213 5 20000 1049642 277279 19180 1346921 PUPIL ALLOCATIONS 900099 12339709 12339709 12339709 7132 7132 OTHER INCOME 900099 31460 31460 31460 13725222 12339709 0 38592 441099 397384 38541 5174 6856372 6176869 599073 80430 540614 487036 47236 6342 580483 522954 50720 6809 16173 16173 73501 73501 114867 114867 29258 29258 340609 340609 251755 251755 1065132 1065132 52765 52765 237657 237657 981401 981401 121552 121552 STUDENT MEALS 872950 872950 FINANCE/DEVELOPMENT SUP 380000 380000 STUDENT ACTIVITIES 228970 228970 SPECIAL EDUCATION 118353 118353 STUDENT HEALTH/MEDICAL 110494 110494 264242 264242 13678247 12374248 1205244 98755 791564 406624 3095144 3153063 37827 69352 638857 663841 10808 26383 28087007 8587176 20025764 19499831 437862 525720 218007 176758 25255833 24521572 416093 421436 83490 152519 8780000 8110000 334170 60704 9613753 8744659 X 14911486 14926822 630594 750091 100000 100000 15642080 15776913 25255833 24521572 X 46975 87858 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 100000 100000 100000 100000 100000 100000 1.00000 0 0 24512191 5749418 18762773 1379766 1084169 295597 2195050 1753589 441461 19499831 CAPITAL LEASE OBLIGATIONS 60704 60704 13725222 13678247 46975 87858 87858 134833 13813080 87858 87858 13725222 0 13725222 13678247 0 13678247 0 13678247 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: PERMANENTLY RESTRICTED NET ASSETS ARE RESTRICTED TO INVESTMENT IN PERPETUITY. INVESTMENT INCOME IS RESTRICTED FOR OTTAWAY SCHOLARSHIP. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS NOT CONSIDERED TO BE A PRIVATE FOUNDATION. UNDER SECTION 501(C)(3) OF THE IRC, THE SCHOOL IS EXEMPT FROM FEDERAL TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. THE SCHOOL DID NOT HAVE ANY NET UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2011 AND 2010. THE SCHOOL FOLLOWS THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, BASED UPON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAS TAKEN NO UNCERTAIN POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. GENERALLY, THE SCHOOL IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2008. 1 1 1 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 SCHOOL SHALL ADMIT STUDENTS OF ANY RACE, COLOR, NATIONAL AND ETHNIC ORIGIN. IT WILL NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL AND ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS, OR ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE SEED PUBLIC CHARTER SCHOOL OF WASHINGTON, DC WAS ORGANIZED FOR THE PURPOSE OF OPERATING A PUBLIC CHARTER SCHOOL FOR EDUCATIONALLY UNDERSERVED CHILDREN RESIDING IN WASHINGTON, D.C. THE SEED PUBLIC CHARTER SCHOOL OF WASHINGTON, DC RECEIVES A STUDENT ALLOCATION FROM THE DISTRICT OF COLUMBIA TO COVER THE COST OF ACADEMIC AND FACILITIES EXPENSES. X X 0 0 0 0 0 0 0 0 0 ERIC ADLER 0 165954 0 0 0 2880 0 5438 0 13205 0 187477 0 0 RAJIV VINNAKOTA 0 178644 0 0 0 3180 0 5438 0 13205 0 200467 0 0 CHARLES B ADAMS 177224 0 28000 0 0 0 0 0 14058 0 219282 0 0 0 SUPPLEMENTAL INFORMATION PART III THE SEED SCHOOL OF DC IS RELATED TO THE SEED FOUNDATION. THE SEED FOUNDATION PROVIDES THE COMPENSATION TO ERIC ADLER AND RAJIV VINNAKOTA. THE SCHOOL DOES NOT COMPENSATE THESE INDIVIDUALS. THE SCHOOL RELIES ON ITS RELATED ORGANIZATION'S METHODOLOGY OF DETERMINING COMPENSATION. THE FOLLOWING ARE THE COMPENSATION DETERMINATION POLICIES OF THE SEED FOUNDATION. THE SEED FOUNDATION BOARD OF DIRECTORS APPROVES THE COMPENSATION OF ITS OFFICERS, DIRECTORS AND KEY EMPLOYEES AS PART OF APPROVING THE ANNUAL BUDGET. MEMBERS OF THE BOARD OF DIRECTORS RECEIVE NO COMPENSATION. THE BOARD OF DIRECTOR SET THE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES BY CONSIDERING TWO FACTORS1) AN INFORMAL MARKET ANALYSIS OF COMPARABLE POSITIONS 2) WHAT THE ORGANIZATION CAN AFFORD TO PAY BASED ON IT BUDGET CONSTRAINTS. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO THE FILING OF THE FORM 990, THE CHAIRMAN OF THE FINANCE COMMITTEE ALONG WITH THE MEMBERS OF THE FINANCE COMMITTEE WILL REVIEW THE TAX RETURN VIA ELECTRONIC FORM OR PAPER COPY. SENIOR MANAGEMENT WILL WAIT ON THE RESPONSE OF THE CHAIRMAN OF THE FINANCE COMMITTEE ONCE THE REVIEW IS COMPLETED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES OF THE SEED SCHOOL OF WASHINGTON, D.C. ("SCHOOL") HAVE ADOPTED THE FOLLOWING POLICY TO ASSURE THAT ALL DELIBERATIONS AND ACTIONS OF THE BOARDS AND OFFICERS ARE UNDERTAKEN IN A MANNER THAT IS FREE OF CONFLICTS OF INTERESTS AND THE APPEARANCE OF CONFLICTS OF INTEREST SO THAT TRUSTEES AND OFFICERS CAN ACT IN A MANNER THAT IS IN THE BEST INTERESTS OF THE SCHOOL, THE SCHOOL'S PARENT AND/OR ANY SEED SPONSORED ENTITY. THIS POLICY IS INTENDED TO SUPPLEMENT BUT NOT REPLACE ANY STATE LAWS APPLICABLE TO NONPROFIT CORPORATIONS. THE POLICY SET FORTH IN THIS STATEMENT IS APPLICABLE TO ALL MEMBERS OF THE SCHOOL BOARD, MEMBERS OF COMMITTEES WITH BOARD-DELEGATED POWERS, AND ALL OFFICERS OF THE SCHOOL DURING THE PERIOD THAT THEY SERVE IN SUCH CAPACITY AND FOR A PERIOD OF ONE YEAR THEREAFTER ("COVERED PERSONS"). EACH COVERED PERSON HAS A DUTY TO PLACE THE INTERESTS OF THE SCHOOL, SCHOOLS PARENT OR ANY SEED SPONSORED ENTITY FOREMOST IN ANY DELIBERATIONS, DECISIONS OR TRANSACTIONS INVOLVING THE SCHOOL. IF A COVERED PERSON, OR HIS OR HER FAMILY, HAS A CONFLICT OF INTEREST OR A POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO A PARTICULAR TRANSACTION OR ON AN ONGOING BASIS, THE COVERED PERSON HAS A DUTY TO DISCLOSE THE CONFLICT OR POTENTIAL CONFLICT OF INTEREST. IF A COVERED PERSON BELIEVES THAT HE OR SHE MAY HAVE A CONFLICT OF INTEREST WITH RESPECT TO ANY PARTICULAR TRANSACTION OR ON AN ONGOING BASIS, HE OR SHE SHALL PROMPTLY AND FULLY DISCLOSE THE POTENTIAL CONFLICT TO THE CHAIR OF THE BOARD OF TRUSTEES AND THE HEAD OF SCHOOL. THE CHAIR AND HEAD OF SCHOOL SHALL DETERMINE WHETHER THERE IS IN FACT A CONFLICT OR APPEARANCE OF A CONFLICT WITH RESPECT TO A COVERED PERSON. IN DETERMINING WHETHER THERE IS A CONFLICT OR APPEARANCE OF A CONFLICT, IT IS INTENDED THAT THE CHAIR AND HEAD OF SCHOOL WILL EXERCISE THEIR BEST JUDGMENT AND, IN CASE OF DOUBT, WILL ERR ON THE SIDE OF PROTECTING THE SCHOOL FROM ANY CONFLICT OR APPEARANCE OF CONFLICT. EACH COVERED PERSON SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: 1.HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY; 2.HAS READ AND UNDERSTANDS THE POLICY; 3.HAS AGREED TO COMPLY WITH THE POLICY; AND 4.UNDERSTANDS THAT THE SCHOOL IS A CHARITABLE ORGANIZATIONS AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL WAS HIRED FOLLOWING A SIX MONTH SEARCH LED BY AN EXECUTIVE RECRUITING FIRM. HIRING DECISION AND COMPENSATION DECISIONS WERE MADE BY A SPECIAL COMMITTEE OF THE BOARD OF TRUSTEES THAT WAS SUPPORTED BY THE CHIEF OPERATING OFFICER OF THE SEED FOUNDATION (RELATED ENTITY) AND THE EXECUTIVE RECRUITING FIRM. INITIAL SALARY LEVEL FOR THE POSITION WAS DETERMINED BASED ON THE SALARIES OF PRIOR HEADS OF SCHOOL AS WELL AS BASED ON THE CANDIDATE EXPERIENCE. OTHER COMPENSATION WAS CONSISTENT WITH EXISTING SCHOOL BENEFITS PACKAGES. THE MANAGING DIRECTOR WAS HIRED FOLLOWING AN EXTENSIVE RECRUITING AND SEARCH PROCESS. THE PROCESS OF CREATING THE POSITION, DETERMINING SALARY, INTERVIEWING AND HIRING INVOLVED A BROAD GROUP OF EXECUTIVE AND BOARD-LEVEL LEADERSHIP INCLUDING THE CHAIRMAN OF THE SCHOOL BOARD OF TRUSTEES, THE CHIEF OPERATING OFFICER OF THE SEED FOUNDATION, OTHER MEMBERS OF THE BOARD OF TRUSTEES, AND THE HEAD OF SCHOOL. SALARY LEVEL FOR THE POSITION WAS DETERMINED BASED ON MARKET RATES FOR COMPARABLE POSITIONS, SCHOOL BUDGET, POSITION RESPONSIBILITY AND CANDIDATE EXPERIENCE. OTHER COMPENSATION WAS CONSISTENT WITH EXISTING SCHOOL BENEFITS PACKAGES. THE DIRECTOR OF FINANCE WAS HIRED FOLLOWING AN EXTENSIVE SEARCH BY A RECRUITING FIRM. THE SALARY WAS DETERMINED BY THE MANAGING DIRECTOR AND HEAD OF SCHOOL BASED ON THE MARKET RATES FOR COMPARABLE POSITIONS, SCHOOL BUDGET, POSITION RESPONSIBILITY AND CANDIDATE EXPERIENCE. OTHER COMPENSATION WAS CONSISTENT WITH EXISTING SCHOOL BENEFITS PACKAGES. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 87,858. THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. COMPENSATION DETERMINATION FORM 990, PART VI, SECTION B, LINES 15A AND 15B THE SEED SCHOOL OF DC IS RELATED TO THE SEED FOUNDATION. THE SEED FOUNDATION PROVIDES THE COMPENSATION TO ERIC ADLER AND RAJIV VINNAKOTA. THE SCHOOL DOES NOT COMPENSATE THIS INDIVIDUALS. THE SCHOOL RELIES ON ITS RELATED ORGANIZATION'S METHODOLOGY OF DETERMINING COMPENSATION. THE FOLLOWING ARE THE COMPENSATION DETERMINATION POLICIES OF THE SEED FOUNDATION. THE SEED FOUNDATION BOARD OF DIRECTORS APPROVES THE COMPENSATION OF ITS OFFICERS, DIRECTORS AND KEY EMPLOYEES AS PART OF APPROVING THE ANNUAL BUDGET. MEMBERS OF THE BOARD OF DIRECTORS RECEIVE NO COMPENSATION. THE BOARD OF DIRECTOR SET THE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES BY CONSIDERING TWO FACTORS1) AN INFORMAL MARKET ANALYSIS OF COMPARABLE POSITIONS 2) WHAT THE ORGANIZATION CAN AFFORD TO PAY BASED ON IT BUDGET CONSTRAINTS. HOURS WORKED FOR RELATED ORGANIZATION FORM 990, PART VII, COLUMN B ERIC ADLER AND RAJIV VINNAKOTA EACH WORK 40 HOURS PER WEEK FOR THE SEED FOUNDATION, THE RELATED ORGANIZATION FOR WHICH THE COMPENSATION IS BEING REPORTED IN PART VII OF THE FORM 990. THE SEED FOUNDATION INC 1776 MASSACHUSETTS AVENUE NW SUITE WASHINGTON DC 20036 541850819 DEVELOP INNOVATIVE EDUCATIONAL OPPORTUNITIES DC 501(C)(3) LINE 7 N/A 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 SEED FOUNDATION INC K 380000 COST SEED FOUNDATION INC O 16345 COST SEED FOUNDATION INC B 20000 CASH