2011-04-20T07:34:54-05:00 2010-06-30 WithumSmithBrown PC 465 South St Ste 200 Morristown NJ 079606497 990 2009-07-01 010790110 EXCELLENCE ACADEMIES FOUNDATION INC EXCE 2128447905 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 CAROLYN HACK 2011-04-04 Scott Mariani 9738989494 2009 2016-02-24 21:20:13Z NORMAN ATKINS 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 1571615 false X WWW.UNCOMMONSCHOOLS.ORG X 2003 NY TO SUPPORT THE CHARITABLE PURPOSES OF THE SUPPORTED ORGANIZATION, UNCOMMON SCHOOLS, INC.; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION. 3 3 4 0 0 0 1599892 1072939 0 0 35821 498676 0 0 1635713 1571615 886626 786577 0 0 293784 277010 0 0 0 1722830 1590257 2903240 2653844 -1267527 -1082229 41074415 39934713 26015953 25956258 15058462 13978455 TO SUPPORT THE CHARITABLE PURPOSES OF THE SUPPORTED ORGANIZATION, UNCOMMON SCHOOLS, INC.; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, BY ENGAGING IN ACTIVITIES DIRECTED TO THE DEVELOPMENT OF INNOVATIVE SCHOOLS, ESPECIALLY CHARTER PUBLIC SCHOOLS. IN PARTICULAR, EXCELLENCE ACADEMIES FOUNDATION, INC., WHICH SUPPORTS THE START-UP, PROGRAM DEVELOPMENT, AND PROGRAM IMPLEMENTATION OF EXCELLENCE BOY'S CHARTER SCHOOL OF BEDFORD STUYVESANT AND THE ACQUISITION AND DEVELOPMENT OF PROPERTY TO BE USED BY EXCELLENCE BOY'S CHARTER SCHOOL OF BEDFORD STUYVESANT, A CHARTER PUBLIC SCHOOL THAT OPENED IN THE BEDFORD STUYVESANT NEIGHBORHOOD OF BROOKLYN, NEW YORK IN AUGUST 2004. IN ADDITION EXCELLENCE ACADEMIES FOUNDATION, INC. HAS HELPED LAUNCH AN EARLY LEARNING PROGRAM CALLED EXCELLENCE BABY ACADEMY TO BENEFIT THE YOUNGER SIBLINGS OF EXCELLENCE BOY'S CHARTER SCHOOL STUDENTS AND OTHER MEMBERS OF THE COMMUNITY. false true 2563888 300000 0 EXPENSES INCURRED IN CARRYING OUT THE CHARITABLE PURPOSES OF THE SUPPORTED ORGANIZATION, UNCOMMON SCHOOLS, INC.; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, BY ENGAGING IN ACTIVITIES DIRECTED TO THE DEVELOPMENT OF INNOVATIVE SCHOOLS, ESPECIALLY CHARTER PUBLIC SHCOOLS. IN PARTICULAR, THE ORGANIZATION SUPPORTS THE SUCCESSFUL START-UP, PROGRAM DEVELOPMENT, AND PROGRAM IMPLEMENTATION OF EXCELLENCE BOY'S CHARTER SCHOOL OF BEDFORD STUYVESANT AND THE ACQUISISTION AND DEVELOPMENT OF PROPERTY TO BE USED BY EXCELLENCE STUYVESANT NEIGHBORHOOD OF BROOKLYN, NEW YORK IN AUGUST 2004. EXCELLENCE BABY ACADEMY ("EBA") IS AN EARLY LITERACY, SCHOOL READINESS, AND PARENTING PROGRAM SERVING FAMILIES WITH CHILDREN FOUR YEARS OLD AND UNDER LIVING IN BEDFORD-STUYVESANT, BROOKLYN, AND SIMILARLY-SITUATED COMMUNITIES. EBA PREPARES CHILDREN FOR LONG-TERM SUCCESS BY PRIMING THEM TO BEGIN SCHOOL WITH FUNDAMENTAL KNOWLEDGE, SKILLS, AND AN EAGERNESS TO LEARN AND EMPOWERING THEIR PARENTS TO BE ACTIVE PARTICIPANTS IN, AND ADVOCATES FOR, THEIR CHILDREN'S LEARNING AND DEVELOPMENT. THE ACTIVITIES AND OPERATIONS OF EXCELLENCE BABY ACADEMY, AS OF JUNE 30, 2010, WERE TRANSFERRED TO AN UNRELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION. 2563888 true true false false false false false false false true false true false false false false false false false false false true false false false false false false false false false false false false false false false true false false false true 6 0 true 4 true false false false false false false false false false false 3 3 false false false false true true true true true false false true true true true true true true true false NY X CAROLYN HACK 2128447905 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 PAUL TUDOR JONES II 5.0 X X 0 0 0 NORMAN ATKINS 5.0 X 0 0 0 ROBERT M HOWITT 3.0 X 0 0 0 ROBIN SMITH 55.0 X 102918 0 9539 102918 0 9539 1 false false false 0 15000 1057939 1072939 0 498676 0 498676 0 0 0 0 0 0 0 1571615 0 498676 786577 786577 0 0 0 0 0 247720 247720 931 931 14073 14073 14286 14286 50000 50000 0 15000 15000 0 0 0 200642 198338 2304 0 8733 7306 1427 0 0 0 0 0 0 0 0 816176 816176 29957 29957 UTILITIES 210790 210790 0 0 SECURITY 96732 96732 0 0 WRITEOFF OF LEASEHOLDS 47134 47134 0 0 OTHER EXPENSES 115093 123825 -8732 0 2653844 2563888 89956 0 2361046 2079430 85811 136000 6932000 6944598 432 0 33191710 3258248 30796776 29933462 643161 586033 255189 255190 41074415 39934713 95921 36226 25920032 25920032 26015953 25956258 X 15058462 13978455 15058462 13978455 41074415 39934713 X false true true X false X X X X false false false UNCOMMON SCHOOLS INC 311488698 03 true true true 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 544652 544652 32641654 3252842 29388810 5404 5404 0 29933462 0 CONSTRUCTION ADVANCES 25920032 25920032 TEXT OF FIN 48 AUDITED FINANCIAL STATEMENT FOOTNOTE SCHEDULE D, PART X THE FIN 48 FOOTNOTE BELOW IS FROM THE ORGANIZATION'S CONSOLIDATED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2010. THE ORGANIZATION FOLLOWED THE PROVISIONS OF AUTHORITATIVE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES FOR THE YEARS ENDED JUNE 30, 2010 AND 2009. UNDER THIS GUIDANCE, TAX POSITIONS ARE EVALUATED FOR RECOGNITION USING A MORE-LIKELY-THAN-NOT THRESHOLD, AND THOSE TAX POSITIONS REQUIRING RECOGNITION ARE MEASURED AT THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50 PERCENT LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. THE ORGANIZATION HAS EVALUATED THE LIKELIHOOD OF THEIR TAX EXEMPT STATUS BEING CHALLENGED AS REMOTE. ACCORDINGLY, THE ORGANIZATION HAS NOT INCLUDED ANY INCOME TAX PROVISIONS OR ANY POTENTIAL LIABILITIES FOR TAXES ON UNRELATED BUSINESS INCOME, INCLUDING INTEREST AND PENALTIES, IN THE FINANCIAL STATEMENTS RELATED TO POTENTIAL VIOLATIONS OF THEIR TAX EXEMPT STATUS. true EXCELLENCE BOY'S CHARTER SCHOOL OF BEDFORD STUYV 225 PATCHEN AVENUE BROOKLYN NY 11233 810650035 501(C)(3) 300000 PROGRAM SUPPORT UNCOMMON SCHOOLS INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 311488698 501(C)(3) 486577 PROGRAM SUPPORT 2 0 GRANT FUND MONITORING Schedule I, Part I; Question 2 GRANTS ARE MONITORED BY THE ORGANIZATION'S FINANCE PERSONNEL THROUGH THE UTILIZATION OF COST CENTERS AND OTHER INFORMATION; INCLUDING WRITTEN DOCUMENTATION AND RECEIPTS. STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS CORE FORM, PART III; QUESTION 3 THE ACTIVITIES AND OPERATIONS OF EXCELLENCE BABY ACADEMY, AS OF JUNE 30, 2010, WERE TRANSFERRED TO AN UNRELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION. DISCLOSURE INFORMATION CORE FORM, PART VI, SECTION A; QUESTIONS 6 & 7 UNCOMMON SCHOOLS, INC. ("USI") IS THE SOLE MEMBER OF THIS ORGANIZATION. USI HAS THE RIGHT TO ELECT THE MEMBERS OF THIS ORGANIZATION'S BOARD OF TRUSTEES AND HAS CERTAIN RESERVED POWERS AS DEFINED IN THIS ORGANIZATION'S BYLAWS. DISCLOSURE INFORMATION CORE FORM, PART VI, SECTION B; QUESTION 11A THE ORGANIZATION IS AN AFFILIATE ENTITY WITHIN UNCOMMON SCHOOLS, INC. AND AFFILIATES. THE ORGANIZATION'S FEDERAL FORM 990 WAS PROVIDED TO AND MADE AVAILABLE TO THE FINANCE COMMITTEE OF UNCOMMON SCHOOLS, INC. FOR REVIEW BY ITS MEMBERS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS"). FOLLOWING THIS REVIEW THE FORM 990 WAS MADE AVAILABLE TO EACH VOTING MEMBER OF THIS ORGANIZATION'S GOVERNING BODY, ITS BOARD OF TRUSTEES, PRIOR TO FILING WITH THE IRS. THE ORGANIZATION'S BOARD OF TRUSTEES HAS THE RESPONSIBILITY TO OVERSEE, REVIEW AND APPROVE OF THE FEDERAL FORM 990, INCLUDING THE PREPARATION, REVIEW AND FILING PROCESS. AS PART OF THE TAX RETURN PREPARATION PROCESS THE ORGANIZATION HIRED A PROFESSIONAL CPA FIRM WITH EXPERIENCE AND EXPERTISE IN NOT-FOR-PROFIT TAX RETURN PREPARATION TO PREPARE THE FEDERAL FORM 990. THE CPA FIRM'S TAX PROFESSIONALS WORKED CLOSELY WITH THE ORGANIZATION'S FINANCE PERSONNEL AND VARIOUS OTHER INDIVIDUALS OF THE ORGANIZATION TO OBTAIN THE INFORMATION NEEDED IN ORDER TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE CPA FIRM PREPARED A DRAFT FEDERAL FORM 990 AND FURNISHED IT TO THE ORGANIZATION'S FINANCE PERSONNEL AND OTHER INDIVIDUALS FOR THEIR REVIEW. THE ORGANIZATION'S FINANCE PERSONNEL AND OTHER INDIVIDUALS REVIEWED THE DRAFT FEDERAL FORM 990 AND DISCUSSED QUESTIONS AND COMMENTS WITH THE CPA FIRM. REVISIONS WERE MADE TO THE DRAFT FEDERAL FORM 990 WHERE NECESSARY AND A FINAL DRAFT WAS FURNISHED BY THE CPA FIRM TO THE ORGANIZATION'S FINANCE PERSONNEL AND VARIOUS OTHER INDIVIDUALS FOR FINAL REVIEW AND APPROVAL PRIOR TO PRESENTATION OF THE FEDERAL FORM 990 TO THE MEMBERS OF THE UNCOMMON SCHOOLS, INC. FINANCE COMMITTEE. THEREAFTER, THE FORM 990 WAS MADE AVAILABLE TO EACH VOTING MEMBER OF THIS ORGANIZATION'S GOVERNING BODY, ITS BOARD OF TRUSTEES, PRIOR TO FILING WITH THE IRS. DISCLOSURE INFORMATION CORE FORM, PART VI, SECTION B; QUESTION 12 THE ORGANIZATION IS AN AFFILIATE OF UNCOMMON SCHOOLS, INC. AND AFFILIATES. THE ORGANIZATION REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS AND SENIOR MANAGEMENT PERSONNEL ARE REQUIRED TO REVIEW THE EXISTING CONFLICT OF INTEREST POLICY AND COMPLETE A QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION'S CHIEF FINANCIAL OFFICER FOR REVIEW. THEREAFTER THE CHIEF FINANCIAL OFFICER PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES WHICH CONTAINS INFORMATION DISCLOSED ON AN INDIVIDUAL BY INDIVIDUAL BASIS. THEREAFTER, THE CHIEF FINANCIAL OFFICER OF THE ORGANIZATION PRESENTS THIS SUMMARY TO THE ORGANIZATION'S BOARD OF TRUSTEES FOR ITS REVIEW AND DISCUSSION. DISCLOSURE INFORMATION CORE FORM, PART VI, SECTION B; QUESTION 15 THE ORGANIZATION IS AN AFFILIATE ENTITY WITHIN UNCOMMON SCHOOLS, INC. ("USI") AND AFFILIATES. USI'S BOARD OF TRUSTEES HAS A COMPENSATION COMMITTEE ("COMMITTEE"). THE COMMITTEE HAS ADOPTED A WRITTEN EXECUTIVE COMPENSATION PHILOSOPHY WHICH IT FOLLOWS WHEN IT REVIEWS AND APPROVES OF THE COMPENSATION AND BENEFITS OF THE ORGANIZATION'S SENIOR MANAGEMENT. THE COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE INDIVIDUALS WHICH IS INTENDED TO INCLUDE BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE COMMITTEE'S REVIEW IS DONE ON AT LEAST AN ANNUAL BASIS AND ENSURES THAT THE "TOTAL COMPENSATION" OF SENIOR MANAGEMENT OF THE ORGANIZATION IS REASONABLE. THE ACTIONS TAKEN BY THE COMMITTEE ENABLE THE ORGANIZATION TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR PURPOSES OF INTERNAL REVENUE CODE SECTION 4958 WITH RESPECT TO THE TOTAL COMPENSATION OF CERTAIN MEMBERS OF THE SENIOR MANAGEMENT TEAM. THE THREE FACTORS WHICH MUST BE SATISFIED IN ORDER TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS ARE THE FOLLOWING: 1. THE COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY AN "AUTHORIZED BODY" OF THE APPLICABLE TAX-EXEMPT ORGANIZATION WHICH IS COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A "CONFLICT OF INTEREST" WITH RESPECT TO THE COMPENSATION ARRANGEMENT; 2. THE AUTHORIZED BODY OBTAINED AND RELIED UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION; AND 3. THE AUTHORIZED BODY "ADEQUATELY DOCUMENTED THE BASIS FOR ITS DETERMINATION" CONCURRENTLY WITH MAKING THAT DETERMINATION. THE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES EACH OF WHO ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. THE COMMITTEE RELIED UPON APPROPRIATE COMPARABLE DATA; SPECIFICALLY THE COMMITTEE UTILIZES INDUSTRY COMPARABLES AND PERFORMS IN-HOUSE STUDIES OF EXECUTIVE COMPENSATION WITH ASSISTANCE FROM NEWSCHOOLS VENTURE FUNDS. THE COMMITTEE ADEQUATELY DOCUMENTED ITS BASIS FOR ITS DETERMINATION THROUGH THE TIMELY PREPARATION OF WRITTEN MINUTES OF THE COMPENSATION COMMITTEE MEETINGS DURING WHICH THE EXECUTIVE COMPENSATION AND BENEFITS WAS REVIEWED AND SUBSEQUENTLY APPROVED. THE ACTIONS OUTLINED ABOVE WITH RESPECT TO THE COMMITTEE AND THE ESTABLISHMENT OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS ONLY APPLIES TO CERTAIN SENIOR MANAGEMENT PERSONNEL. THE COMPENSATION AND BENEFITS OF CERTAIN OTHER INDIVIDUALS DISCLOSED IN THIS FORM 990 ARE REVIEWED ANNUALLY BY USI'S CHIEF EXECUTIVE OFFICER WITH ASSISTANCE FROM USI'S HUMAN RESOURCES DEPARTMENT IN CONJUNCTION WITH USI'S BUDGET PROCESS AND INDIVIDUAL'S JOB PERFORMANCE DURING THE YEAR AND IS BASED UPON OTHER OBJECTIVE FACTORS DESIGNED TO ENSURE THAT REASONABLE AND FAIR MARKET VALUE COMPENSATION IS PAID BY THE ORGANIZATION. OTHER OBJECTIVE FACTORS INCLUDE MARKET SURVEY DATA FOR COMPARABLE POSITIONS, INDIVIDUAL GOALS AND OBJECTIVES, PERSONNEL REVIEWS, EVALUATIONS, SELF-EVALUATIONS AND PERFORMANCE FEEDBACK MEETINGS. DISCLOSURE INFORMATION CORE FORM, PART VI, SECTION C; QUESTION 19 THE ORGANIZATION'S FILED CERTIFICATE OF INCORPORATION AND ANY AMENDMENTS CAN BE OBTAINED AND REVIEWED THROUGH THE STATE OF NEW YORK SECRETARY OF STATE. AUDITED FINANCIAL STATEMENTS CORE FORM, PART XI; QUESTION 2 THE ORGANIZATION IS AN AFFILIATE WITHIN THE UNCOMMON SCHOOLS, INC. AND AFFILIATES. AN INDEPENDENT CPA FIRM AUDITED THE FINANCIAL STATEMENTS OF THE TAXPAYER FOR THE FISCAL YEARS ENDED JUNE 30, 2010 AND JUNE 30, 2009; RESPECTIVELY, AND ISSUED A CONSOLIDATED FINANCIAL STATEMENT WITH CONSOLIDATING SCHEDULES BY ENTITY. AN UNQUALIFIED OPINION WAS ISSUED BY THE INDEPENDENT CPA FIRM EACH YEAR. THE BOARD OF TRUSTEES ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE TAXPAYERS FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT AUDITOR. TRANSACTIONS WITH RELATED ORGANIZATIONS SCHEDULE R, PART V; QUESTION 2 AFFILIATES ARE GENERALLY CHARGED COST FOR SERVICES RENDERED. UNCOMMON SCHOOLS INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 311488698 MGMT SVCS NY 501(C)(3) 509(A)(2) N/A UNCOMMON LENDER INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 263594129 REAL ESTATE NY 501(C)(3) 509(A)(1) USI false false false false false false false false false false false false false false false false true false UNCOMMON SCHOOLS INC (EXCELLENCE II LLC) Q 486577