2011-02-14T13:35:20-06:00 2010-06-30 RSM MCGLADREY INC 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2009-07-01 263282250 EXPLORE SCHOOLS INC EXPL 7187034484 155 water street brooklyn NY 11201 morton a ballen 7187034484 2011-02-14 1 MARTIN GREIF 2123721000 2009 2016-02-24 21:20:13Z MORTON A BALLEN 155 water street brooklyn NY 11201 1498403 0 X www.explorenetwork.org X 2008 NY to provide strategic planning, board governance, financial oversight, human resource and other management support services to schools 3 2 5 0 0 0 235000 628523 858600 0 1239 235000 1488362 9212 0 121272 687464 0 110623 62387 364759 183659 1061435 51341 426927 70973 679545 19632 201277 51341 478268 The Organization is a New York-based, non-profit charter management organization. Its mission is to create and support a network of K-8 public schools in under-served communities that provides students with the academic skills and critical-thinking abilities they need to succeed in a college-preparatory high school. There are currently 700 students enrolled in the network's two charter schools in central Brooklyn. To realize its mission, Explore Schools provides value-added support to the schools within the network, while at the same time developing capacity to establish and support turnaround schools that will provide students in under-served communities with access to a high-quality public education. 0 0 245565 4606 636180 Provided Management advisory services to Explore Charter School per Contract. 301694 4606 222420 Provided Management advisory services per contract and provided support to launch Explore Empower Charter School. 154355 Awarded Charter for first turnaround in NYC. 701614 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 3 0 1 5 1 0 0 0 0 0 0 0 0 0 3 2 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ADEL HAGEB 3476616351 155 WATER STREET BROOKLYN NY 11201 MORTON A BALLEN 20.00 X X 66362 0 5543 Theodore GILLMAN 1.00 X 0 0 0 KEVIN HUFFMAN 1.00 X 0 0 0 CATHERINE BARUFALDI 25.00 X 51403 0 11489 117765 0 17032 0 0 0 1 0 13973 614550 628523 mgmt service fees 900099 858600 858600 858600 5280 13973 10041 -4761 -4761 misc. income 900099 6000 6000 6000 1488362 858600 0 1239 9212 9212 340000 227065 101660 11275 258650 172737 77335 8578 2357 1574 707 76 32442 21672 9733 1037 54015 36082 16204 1729 6985 6985 177525 93668 734 83123 15278 9928 5350 47952 40759 5275 1918 23405 15634 7022 749 32167 31515 652 3763 2514 1129 120 8936 5969 2967 recruitment 16332 13065 3267 staff development 15734 9358 5928 448 miscellaneous 15112 10862 4250 fund-raising expenses 1570 1570 1061435 701614 249198 110623 500 501544 25000 150000 40792 12184 20221 4404 4681 15817 70973 679545 489 141940 9212 50000 19143 125 19632 201277 X -51167 167101 102508 311167 51341 478268 70973 679545 X 0 1 1 X 0 X 235000 628523 863523 235000 628523 863523 863523 6000 6000 869523 858600 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11671 3691 7980 8550 713 7837 15817 due to related party - 501(c)(3) 125 125 1488362 1061435 426927 0 426927 1540371 41968 41968 1498403 -10041 -10041 1488362 1113444 41968 10041 52009 1061435 0 1061435 Part X: Description of Uncertain Tax Positions Under FIN 48: On July 1, 2009, the Organization adopted the accounting standard on accounting for uncertainty in income taxes (Accounting Standards Codification ("ASC") 740, formerly Financial Accounting Standards Board ("FASB") Interpretation No. 48), which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Organization 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 on examination by taxing authorities, based on 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% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses derecognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management has evaluated the Organization's tax positions for 2010 and concluded that the Organization had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. Part XII, Line 4b - Other Adjustments: special events expenses offset against special events revenue: -10041. Part XIII, Line 2d - Other Adjustments: special events expenses offset against special events revenue: 10041. dinner 19253 13973 5280 10041 19253 13973 5280 10041 10041 -4761 1 X Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: the amounts remitted as grants during the fiscal year ended 6/30/10 were to Explore Charter School and Explore Empower Charter School. these were amounts raised as part of a fundraising event and passed on to the schools to be used in their general operations. There was no specific monitoring of the fund usage required. X X X 0 0 0 0 0 0 0 0 0 Supplemental Information Part III during Explore Schools, Inc.'s (ESI) start-up period, all employees' salaries were paid by Explore Charter School (ECS) on their behalf. ECS was subsequently reimbursed for all those expenses. as of 7/1/09, ESI began paying out their employees' salaries. for purposes of Form 990, part vii, the 2009 W-2 compensation was paid by ECS, an unrelated party. the following are the recipients and amounts of reportable compensation. Morton A. ballen - $93,948 catherine barunfaldi - $74,094 Form 990, Part VI, Section B, line 11 Senior management reviews the form 990 and then forwards it to the finance committee for their review. Changes are made to the draft return, when necessary. The final version of the form 990 is then distributed to all the organization's board members prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Prior to election to the Board, and thereafter on an annual basis, all Trustees, officers and key employees (if applicable) are required to disclose, in writing, to the best of their knowledge, any Interest such Trustee may have in any corporation, organization, partnership or other entity which provides professional or other goods or services to the organization for a fee or other compensation, and any Interest such Trustee may have as a result of a position or other relationship with any not-for-profit corporation with which the organization has an attorney-client or other business relationship (collectively, a 'Conflict of Interest'). Form 990, Part VI, Section B, line 15 The compensation committee does a market analysis to compare CEO and other leadership position salaries in similar organizations and is also involved in the approval for the annual budget for the organization. The same process is followed to determine key employee salaries when applicable. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available upon request. form 990, part vii number of hours worked for related entities morton a. ballen worked 13 hours/week for explore charter school (unrelated entity, see Schedule J, Part III) and 1 hour/week for Friends of Explore Charter School. he also devoted 17 hours/week to explore empower charter school (an unrelated organization, within the Explore umbrella of entities). catherine barufaldi worked 10 hours/week for explore charter school (unrelated entity, see Schedule J, Part III) and 15 hours/week for explore empower charter school (an unrelated organization, within the Explore umbrella of entities). THE Friends of Explore CHARTER SCHOOL INC 15 Snyder Ave BROOKLYN NY 11226 134144367 to support explore charter school NY 501(c)(3) 170(b)(1) (A)(vi) Explore Charter School 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 Friends of Explore Charter School (foecs)- outstanding startup loan balance E 125 FOECS - reimb of exp for network retreat & consultant services O 22072 FOECS - transfer of funds received on behalf of ESI R 307803