2024-11-13T10:36:41-06:00 2024-06-30 132781641 MITCHELL & TITUS LLP 80 PINE STREET NEW YORK NY 10005 990 2023-07-01 132613383 PREP FOR PREP PREP 2125791390 328 WEST 71ST STREET NEW YORK NY 100233502 RUTH JURGENSEN CHIEF EXECUTIVE OFFICER 2125791390 2024-11-12 1 0 FREDERICK E DAVIS JR P00446023 2127094500 2024-11-07 2023 2024-10-15 13:58:12Z RUTH JURGENSEN 328 WEST 71ST STREET NEW YORK NY 100233502 14984165 0 X WWW.PREPFORPREP.ORG X 1968 NY PREP FOR PREP ENVISIONS A NATION GUIDED BY ETHICAL AND EFFECTIVE LEADERS WHO REFLECT OUR DIVERSE SOCIETY. AFTER 46 YEARS OF SERVICE, PREP IS NOW MORE THAN 5,000 STUDENTS AND ALUMNI STRONG, CREATING GENERATIONS OF DIVERSE LEADERS WHO ARE INSPIRING CHANGE, SHAPING OUR DEMOCRACY, AND CONTRIBUTING TO AND GROWING OUR GLOBAL ECONOMY. 76 76 241 420 0 0 16953341 10783843 0 0 -435249 3610823 655 5159 16518747 14399825 0 0 0 0 9353751 9909848 0 0 542479 5526265 5550440 14880016 15460288 1638731 -1060463 62950296 63219416 1140256 1258520 61810040 61960896 X PREP FOR PREP'S MISSION IS TO DEVELOP FUTURE LEADERS BY CREATING ACCESS FOR YOUNG PEOPLE OF COLOR TO FIRST-RATE EDUCATIONAL, LEADERSHIP DEVELOPMENT AND PROFESSIONAL ADVANCEMENT OPPORTUNITIES. 0 0 4613987 PREPARATORY PROGRAMS : PREP REDEFINES OPPORTUNITY FOR TOP STUDENTS OF COLOR IN NYC PUBLIC SCHOOLS THROUGH EXCEPTIONAL ACADEMIC AND SOCIAL PREPAREDNESS PROGRAMMINGA RIGOROUS 14-MONTH COURSE OF STUDYTHAT RESULTS IN PLACING APPROXIMATELY 200 STUDENTS ANNUALLY IN LEADING NYC INDEPENDENT SCHOOLS (IN 7TH GRADE) AND NORTHEASTERN BOARDING SCHOOLS (IN 9TH GRADE). OUR ORGANIZATIONAL BUDGET INVESTMENT IN OUR STUDENTS LEVERAGES ROUGHLY $35 MILLION IN FINANCIAL AID FOR OVER 700 STUDENTS (GRADES 7-12) ANNUALLY COMMITTED BY OUR PARTNER SCHOOLS TO MEET STUDENTS' NEEDS BASED ON FAMILY HOUSEHOLD INCOME. 3811358 COUNSELING: PREP PROVIDES INDIVIDUAL COUNSELING FOR APPROXIMATELY 700 STUDENTS ANNUALLY THROUGHOUT THEIR TIME (RANGING FROM 4-6 YEARS) IN INDEPENDENT DAY AND BOARDING SCHOOLS. OUR COUNSELING TEAM MONITORS STUDENTS' ACADEMIC AND SOCIAL-EMOTIONAL PROGRESS AND PROVIDES ASSISTANCE, INCLUDING TUTORING AND EMERGENCY FUND SUPPORT, TO STUDENTS AND THEIR FAMILIES AS NEEDED. THE TEAM WORKS TO EQUIP STUDENTS, WHO ARE ALSO NAVIGATING ADOLESCENCE, TO ADDRESS ISSUES RANGING FROM IMPOSTER SYNDROME TO MICRO-AGGRESSIONS; FROM PERFECTIONISM TO ANXIETY AND DEPRESSION; FROM CULTURAL DIVIDES TO ASSIMILATION AND GENDER IDENTITY. SERVICES AND SUPPORT ARE ALSO MADE AVAILABLE TO APPROXIMATELY 600 COLLEGE STUDENTS ANNUALLY THROUGH OUR UNDERGRADUATE AFFAIRS TEAM. 2805619 LEADERSHIP DEVELOPMENT: PREP OFFERS LEADERSHIP DEVELOPMENT AND PROFESSIONAL ADVANCEMENT OPPORTUNITIES DURING HIGH SCHOOL AND COLLEGE TO ROUGHLY 1,300 STUDENTS ANNUALLY. ACTIVITIES INCLUDE: SLEEP-AWAY CAMP; A PREP-SOTHEBY'S PARTNERSHIP FOR OUR SUMMER ARTS ACADEMY; A PREP-GOOGLE PARTNERSHIP FOR OUR INSTITUTE FOR ENTREPRENEURSHIP (IFE); A NEW ENTREPRENEURSHIP CAMP FOR MIDDLE SCHOOL STUDENTS; COLLEGE GUIDANCE (INCLUDING CAMPUS VISITS); STUDENT LEADERSHIP RETREATS; SUMMER INTERNSHIPS AND CAREER SEMINARS WITH LEADING FIRMS, COMPANIES, NONPROFITS, AND PUBLIC SERVICE AGENCIES; EXPOSURE TO STEM FIELDS AND COMPUTER CODING; TRAVEL ABROAD, INTERNATIONAL LIVING, AND EXPERIENTIAL LEARNING; AND OTHER PROGRAMS AIMED AT EXPANDING STUDENT HORIZONS. THESE OPPORTUNITIES INCREASE STUDENTS' SENSE OF BELONGING, BROADEN UNDERSTANDING OF LIFE'S POSSIBILITIES, AND BUILD A STRONGER SELF-IDENTITY. 1909309 TALENT SEARCH: OUR ADMISSIONS TEAM IDENTIFIES 200 STUDENTS EACH YEAR FOR ADMISSION TO PREP FOR PREP, SELECTED AMONG NEARLY 4,000 ANNUAL INQUIRIES FROM STUDENTS OF COLOR IN NYC PUBLIC SCHOOLS. THE ADMISSIONS PROCESS IS EXTENSIVE AND HIGHLY COMPETITIVE. STUDENTS ARE CHOSEN FOR THEIR ACADEMIC POTENTIAL AND INTELLECTUAL CAPACITY, THEIR COMMITMENT TO LEARNING AND GROWTH, THEIR COURAGE AND INTEGRITY, THEIR DETERMINATION TO SUCCEED, AND THEIR RESILIENCE. ALUMNI AFFAIRS:FOR PREP'S ALUMNI, NOW 4,525 STRONG AND GROWING, WE BUILD COMMUNITY THROUGH A VARIETY OF ENGAGEMENT PROGRAMS THAT ENCOURAGE A LIFE-LONG COMMITMENT TO PREP AND ITS MISSION. ONGOING NETWORKING, PROFESSIONAL DEVELOPMENT, AND SOCIAL GATHERINGS, ALONG WITH OPPORTUNITIES TO GIVE BACK THEIR TIME, KNOWLEDGE, AND TREASURE, ENSURE THAT OUR STUDENTS HAVE ROLE MODELS, MENTORS, AND CHAMPIONS TO HELP THEM REACH THEIR FULL POTENTIAL AND FOLLOW IN THE FOOTSTEPS OF THEIR FELLOW ALUMNI.EDUCATIONAL EQUITY - EXPERTISE & LEADERSHIP IMPACT:PREP HAS A LONGSTANDING COMMITMENT TO SHARING ITS PROGRAM MODEL AND EXPERIENCE AND BOASTS A GROWING LIST OF MORE THAN 250 ORGANIZATIONS AND SOCIAL ENTREPRENEURS WHO HAVE BENEFITED FROM OUR KNOWLEDGE, METHODS, AND APPROACHES. ADDITIONALLY, PREP SUPPORTS ITS PARTNER SCHOOLS WITH INFORMATION-SHARING AND PROFESSIONAL ADVICE AND SUPPORT. 1909309 13140273 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 177 0 1 241 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 76 76 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X SHARON MADISON 2125791390 328 WEST 71ST STREET NEW YORK NY 100233502 MARTIN LIPTON CHAIR EMERITUS (NONVOTING) 1.00 X 0 0 0 JOHN L VOGELSTEIN CHAIR EMERITUS (NONVOTING) 1.00 X 0 0 0 SCOTT L BOK CHAIR EMERITUS 1.00 X 0 0 0 LISA SMITH CASHIN CHAIR 1.00 X 0 0 0 YAHONNES CLEARY PRESIDENT 1.00 X 0 0 0 CHRISTOPHER JAMES PRESIDENT 1.00 X 0 0 0 SUE MENG EXECUTIVE VICE PRESIDENT & SECRETARY 1.00 X 0 0 0 DANIEL M NEIDICH EXECUTIVE VICE PRESIDENT 1.00 X 0 0 0 FRANK K BYNUM JR VICE PRESIDENT 1.00 X 0 0 0 MARGARET MUNZER LOEB VICE PRESIDENT 1.00 X 0 0 0 KENNETH CAPLAN VICE PRESIDENT 1.00 X 0 0 0 JOHN H HALL ESQ VICE PRESIDENT 1.00 X 0 0 0 NATALIE SWABY HUTCHINSON VICE PRESIDENT 1.00 X 0 0 0 NICOLE ARNABOLDI VICE PRESIDENT 1.00 X 0 0 0 CHRISTOPHER ORTEGA VICE PRESIDENT 1.00 X 0 0 0 PETER ANZALONE VICE PRESIDENT & TREASURER 1.00 X 0 0 0 RICHARD D'ALBERT VICE PRESIDENT & ASSISTANT TREASURER 1.00 X 0 0 0 JOHN ALLMAN TRUSTEE, EX-OFFICIO 1.00 X 0 0 0 DALE ALLSOPP TRUSTEE 1.00 X 0 0 0 CONOR BASTABLE TRUSTEE 1.00 X 0 0 0 ANSON H BEARD TRUSTEE 1.00 X 0 0 0 JORGE CALDERON TRUSTEE 1.00 X 0 0 0 ALEX CLAVEL TRUSTEE 1.00 X 0 0 0 DIOGENES BRITO CEO 1.00 X 0 0 0 KATHRYN M DEANE TRUSTEE 1.00 X 0 0 0 JAMES P DEMARE TRUSTEE 1.00 X 0 0 0 ERIC DERFNER TRUSTEE 1.00 X 0 0 0 PASCAL DESROCHES TRUSTEE 1.00 X 0 0 0 ALEXANDER R EDLICH TRUSTEE 1.00 X 0 0 0 PATRICIA FARMAN-FARMAIAN TRUSTEE 1.00 X 0 0 0 KEVIN FERRO TRUSTEE 1.00 X 0 0 0 KAREEM COOK TRUSTEE 1.00 X 0 0 0 CARL D HARNICK TRUSTEE 1.00 X 0 0 0 FRANCIS IDEHEN TRUSTEE 1.00 X 0 0 0 JAMES R MAHER TRUSTEE 1.00 X 0 0 0 ERIC A ROTHFELD TRUSTEE 1.00 X 0 0 0 ANTHONY KIM TRUSTEE 1.00 X 0 0 0 ROBIN KRASNY TRUSTEE 1.00 X 0 0 0 LAURENCE C LEEDS JR TRUSTEE 1.00 X 0 0 0 FRANK J LOVERRO TRUSTEE 1.00 X 0 0 0 R TYLER MORSE TRUSTEE 1.00 X 0 0 0 JEANNEMARIE O'BRIEN TRUSTEE 1.00 X 0 0 0 SANDY OSBORNE TRUSTEE 1.00 X 0 0 0 LISSA PERLMAN TRUSTEE 1.00 X 0 0 0 TREVOR PRICE TRUSTEE 1.00 X 0 0 0 RICHARD SCHAPS TRUSTEE 1.00 X 0 0 0 WILLIAM A SHUTZER TRUSTEE 1.00 X 0 0 0 PEG SULLIVAN TRUSTEE 1.00 X 0 0 0 MICHAEL WEST TRUSTEE 1.00 X 0 0 0 ANITA VOLZ WIEN TRUSTEE 1.00 X 0 0 0 BRIAN C WILLE TRUSTEE 1.00 X 0 0 0 KARESSA L CAIN TRUSTEE 1.00 X 0 0 0 KEVIN OTERO XII TRUSTEE 1.00 X 0 0 0 EVAN SCHWARTZBERG TRUSTEE 1.00 X 0 0 0 MELANIE DOW UNTIL 63024 TRUSTEE 1.00 X 0 0 0 PARISA JAFFER TRUSTEE 1.00 X 0 0 0 MEDHI MAHMUD UNTIL 63024 TRUSTEE 1.00 X 0 0 0 DUSTY PHILIP TRUSTEE 1.00 X 0 0 0 NANCY REYES TRUSTEE 1.00 X 0 0 0 ARUN ALAGAPPAN TRUSTEE 1.00 X 0 0 0 CATHERINE COLE TRUSTEE 1.00 X 0 0 0 LORENCE KIM TRUSTEE 1.00 X 0 0 0 JULIAN LIAU TRUSTEE 1.00 X 0 0 0 RAQUEL ODEN UNTIL 93023 TRUSTEE 1.00 X 0 0 0 CHARLES F STEWART TRUSTEE 1.00 X 0 0 0 NYSSA FAJARDOO LEE TRUSTEE 1.00 X 0 0 0 MICHAEL MITCHELL TRUSTEE 1.00 X 0 0 0 MARIAMA N' DIAYE TRUSTEE 1.00 X 0 0 0 JOSEPH PABON TRUSTEE 1.00 X 0 0 0 DANTE PEARSON TRUSTEE 1.00 X 0 0 0 MO SAKURAI TRUSTEE 1.00 X 0 0 0 DAVID GREENBERG TRUSTEE 1.00 X 0 0 0 VAUGHN CALDON TRUSTEE 1.00 X 0 0 0 ISOLDE BRIELMAIER FROM 101723 TRUSTEE 1.00 X 0 0 0 JOCELYN GAILLIOT FROM 101723 TRUSTEE 1.00 X 0 0 0 NICOLE LEVIN MESARD FROM 101723 TRUSTEE 1.00 X 0 0 0 ARTHUR MAGNUS FROM 011624 TRUSTEE 1.00 X 0 0 0 NNAMDI ORAKWUEVII FROM 101723 TRUSTEE 1.00 X 0 0 0 KEVIN SCHWARTZ FROM 011624 TRUSTEE 1.00 X 0 0 0 JOHNNY SKUMPUA FROM 07123 TRUSTEE 1.00 X 0 0 0 RUTH JURGENSEN CHIEF EXECUTIVE OFFICER 40.00 X 409429 0 23990 JACKSON COLLINS EXECUTIVE DIRECTOR 40.00 X 266642 0 28347 SHARON MADISON CHIEF OPERATING OFFICER 40.00 X 234206 0 27730 NIKOLE SMITH DIRECTOR OF ACADEMIC PROGRAM 40.00 X 191996 0 30161 JOHANNA RODRIGUEZ DIRECTOR OF ADMISSIONS 40.00 X 184937 0 25227 CINDY PEREZ DIRECTOR OF LEADERSHIP DEV 40.00 X 166670 0 29368 REBECCA ERVEY DIRECTOR OF DEVELOPMENT AN 40.00 X 218075 0 22126 ROBERTA OSORIO FROM 07122 DIRECTOR POST PLACEMENT COUNSELING 40.00 X 172701 0 10985 1844656 0 197934 8 0 1 0 L&M BUS CORP 231 MALTA ST BROOKLYN NY 11207 TRANSPORTATION 516425 ARABELLA ADVISORS 1828 L ST NW SUITE 300 WASHINGTON DC 20036 ACCOUNTING SERVICES 386494 AKIN GUMP STRAUSS HAUER & FELD LLP ONE BRYANT PARK BANK OF AMERICA TO NEW YORK NY 10036 LEGAL SERVICES 243196 C2 STAFFING SOLUTIONS INC PO BOX 1191 NEW CANAAN CT 06840 TEMPORARY HELP 157888 NYC SCHOOLBUS INC 8048 PRESTON CT NEW YORK NY 11236 TRANSPORTATION 143416 5 3666648 7117195 1042268 10783843 485244 485244 3125579 0 3125579 3125579 3125579 584340 3666648 584340 0 MISC REVENUE 900099 5159 5159 5159 14399825 0 0 3615982 1016037 865565 111923 38549 7236425 6573058 429473 233894 274069 235843 24096 14130 709695 658725 30519 20451 673622 614342 39533 19747 156428 113238 29950 13240 454236 454236 42714 42714 284144 246344 30176 7624 63484 5310 46187 11987 203910 134603 42659 26648 450973 292096 119911 38966 958274 834115 108433 15726 138556 128362 7583 2611 207785 174837 25161 7787 150472 104071 34035 12366 INTERN & LEADER RETREAT 665371 665371 PUPIL TRANSPORTATION 429070 429070 CAMPUS & SCHOOL TRIPS 297625 294813 2812 BOARDING SCH IMMERSION 215214 215214 832184 555296 198135 78753 15460288 13140273 1777536 542479 950038 1248542 2020388 1514001 9448861 9497729 1000000 580000 709338 933680 7427608 5327649 2091189 2099959 21949493 1593526 24780989 45751979 62950296 63219416 1140256 1258520 1140256 1258520 X 50826384 52257338 10983656 9703558 61810040 61960896 62950296 63219416 -1060463 1211319 0 X 0 1 X 1 0 X 8359335 9235820 9322028 13146072 7117195 47180450 8359335 9235820 9322028 13146072 7117195 47180450 3946976 43233474 372158 423497 526943 457462 485244 2265304 873 3202 7033 655 5159 16922 49462676 0.87410 0.88990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 45631825 4689907 3521148 46800584 46196227 3525819 4090221 45631825 53592212 -7310850 85135 46196227 41888609 12784670 1081067 53592212 42839192 374417 1325000 41888609 0 0 492750 492750 4013078 2721569 1291509 2921780 2606080 315700 2099959 ALTERNATIVE INVESTMENTS 45751979 C 45751979 X 16852465 1211319 1284035 2495354 14357111 42714 42714 14399825 16701609 1284035 1284035 15417574 42714 42714 15460288 PART V, LINE 4: THE BOARD DESIGNATED ENDOWMENT IS UNRESTRICTED AS TO USE, HAVING BEEN ESTABLISHED TO SERVE AS A BUFFER AGAINST FUNDRAISING SHORTFALLS AND TO COVER SHORT-TERM OPERATING CASH NEEDS. THE PERMANENTLY RESTRICTED ENDOWMENT IS LIMITED BY DONOR-IMPOSED RESTRICTIONS THAT DO NOT EXPIRE AND PROVIDES FOR AN ANNUAL DISTRIBUTION OF 4% BASED ON THE AVERAGE VALUE OF SUCH FUNDS AND RELATED TEMPORARILY RESTRICTED ASSETS MEASURED QUARTERLY OVER FIVE YEARS. THESE DISTRIBUTIONS ARE USED TO HELP SUPPORT PREP'S ANNUAL OPERATING BUDGET. PART X, LINE 2: PREP HAS ADOPTED THE PROVISION PERTAINING TO UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENT. PERIODS ENDING JUNE 30, 2024 AND SUBSEQUENT REMAIN OPEN TO EXAMINATION TO APPLICABLE TAXING AUTHORITIES. LILAC BALL 4250988 3666648 584340 584340 4250988 3666648 584340 584340 584340 0 X X X X X 0 1 0 0 0 0 0 0 0 RUTH JURGENSEN CHIEF EXECUTIVE OFFICER 409429 0 0 0 0 0 23500 0 490 0 433419 0 0 0 JACKSON COLLINS EXECUTIVE DIRECTOR 266642 0 0 0 0 0 17242 0 11105 0 294989 0 0 0 SHARON MADISON CHIEF OPERATING OFFICER 234206 0 0 0 0 0 16625 0 11105 0 261936 0 0 0 REBECCA ERVEY DIRECTOR OF DEVELOPMENT AN 218075 0 0 0 0 0 21650 0 476 0 240201 0 0 0 NIKOLE SMITH DIRECTOR OF ACADEMIC PROGRAM 191996 0 0 0 0 0 19176 0 10985 0 222157 0 0 0 JOHANNA RODRIGUEZ DIRECTOR OF ADMISSIONS 184937 0 0 0 0 0 13020 0 12207 0 210164 0 0 0 CINDY PEREZ DIRECTOR OF LEADERSHIP DEV 166670 0 0 0 0 0 16320 0 13048 0 196038 0 0 0 ROBERTA OSORIO FROM 07122 DIRECTOR POST PLACEMENT COUNSELING 172701 0 0 0 0 0 0 0 10985 0 183686 0 0 0 THE COLONY GROUP (PREVIOUSLY PROVIDENCE ASSET MANAGEMENT (NPAM)) JOHN VOGELSTEIN, CHAIRMAN EMERITUS ON JUNE 1, 2017, PREP ENTERED INTO A SUBSCRIPTION AGREEMENT AS A LIMITED PARTNER IN NEW PROVIDENCE BALANCED PORTFOLIO, LP WITH THE COLONY GROUP (PREVIOUSLY PROVIDENCE ASSET MANAGEMENT (NPAM)) FOR THE MANAGEMENT OF A PORTION OF PREP'S ENDOWMENT ASSETS. MR. VOGELSTEIN'S INTEREST IN THE COLONY GROUP WAS DISCLOSED TO PREP PRIOR TO ITS ENTERING INTO THE AGREEMENT WITH NPAM, AND MR. VOGELSTEIN DID NOT PARTICIPATE OR PLAY ANY ROLE IN PREP'S DECISION TO ENGAGE NPAM. IN AUGUST 2022, NEW PROVIDENCE MERGED WITH THE COLONY GROUP. 0 COMMONFUND OCIO INC NICOLE ARNABOLDI, TRUSTEE AND CHAIRPERSON OF INVESTMENT COMMITTEE ON MARCH 13, 2024, PREP ENTERED INTO A SUBSCRIPTION AGREEMENT WITH COMMONFUND OCIO, INC.FOR THE MANAGEMENT OF A PORTION OF PREP'S ENDOWMENT ASSETS. MS. ARNABOLDI'S INTEREST IN COMMONFUND OCIO, INC. WAS DISCLOSED TO PREP PRIOR TO ITS ENTERING INTO THE AGREEMENT WITH COMMONFUND OCIO, INC., AND MS. ARNABOLDI DID NOT PARTICIPATE OR PLAY ANY ROLE IN PREP'S DECISION TO ENGAGE COMMONFUND OCIO, INC. 0 X 29 1042268 FAIR MARKET VALUE 0 1 1 PART I, LINE 32B: GIFTS OF SHARES OF STOCK FROM VARIOUS DONORS ARE RECEIVED ON PREP'S BEHALF BY MERRILL LYNCH AND ARE SOLD AS SOON AS PREP IS NOTIFIED OF RECEIPT. FORM 990, PART I, LINE 6 PREP STUDENTS, ALUMNI, AND SUPPORTERS VOLUNTEER TO HELP ADVANCE PREP'S MISSION. VOLUNTEER OPPORTUNITIES ARE WIDE-RANGING: PREP STUDENTS, PARENTS, AND ALUMNI PROVIDE SUPPORT TO THE PREP ADMISSIONS OFFICE, WORKING WITH PROSPECTIVE APPLICANTS AND THEIR PARENTS/GUARDIANS DURING THE RECRUITMENT AND APPLICATION PROCESS; PREP STUDENTS WHO HAVE COMPLETED AT LEAST 8TH GRADE IN THEIR INDEPENDENT SCHOOLS SERVE AS VOLUNTEERS DURING THE PREPARATORY COMPONENT SUMMER SESSION BY ASSISTING WITH ATTENDANCE AND THE COLLECTION AND DISTRIBUTION OF LUNCHES, BOOKS AND NOTICES. (APPROXIMATELY 20 VOLUNTEERS SUPPORT ADMISSIONS AND PREPARATORY COMPONENT EACH YEAR.) VOLUNTEERS ALSO FACILITATE PROFESSIONAL ADVANCEMENT AND LEADERSHIP DEVELOPMENT INITIATIVES THAT EXPOSE PREP HIGH SCHOOL AND UNDERGRADUATE STUDENTS TO A RANGE OF CAREER OPTIONS THEY MIGHT NOT OTHERWISE HAVE CONSIDERED. THESE INITIATIVES INCLUDE SUMMER INTERNSHIPS, PREP'S ARTS ACADEMY, AND PREP'S INSTITUTE FOR ENTREPRENEURSHIP (IFE). PREP ALUMS, EMPLOYEES OF PARTNERING FIRMS, TRUSTEES, ASSOCIATES COUNCIL MEMBERS, AND DONORS HELP PREPARE STUDENTS BY CONDUCTING MOCK JOB INTERVIEWS. FOR IFE, VOLUNTEERS FROM THESE GROUPS SERVE AS BUSINESS PLAN ADVISORS AND FINAL COMPETITION JUDGES. PREP ALSO USES VOLUNTEERS TO SERVE AS CAREER SEMINAR SERIES PANELISTS. (AS MANY AS 400 VOLUNTEERS SUPPORT PROFESSIONAL ADVANCEMENT EACH YEAR.) MEMBERS OF THE BOARD OF TRUSTEES AND ASSOCIATES COUNCIL VOLUNTEER THEIR TIME AND PROFESSIONAL EXPERIENCE TO LEVERAGE THEIR CONTACTS AND ADVISE THE ORGANIZATION. (TOTAL OF 136 TRUSTEES AND COUNCIL MEMBERS PARTICIPATED DURING THE COURSE OF FY 24.) IN ADDITION, OUR ALUMNI COUNCIL DRIVES PARTICIPATION IN VOLUNTEER ENGAGEMENT ACTIVITIES FOR THE BENEFIT OF PREP, OUR STUDENTS, AND OUR ENTIRE ALUMNI COMMUNITY, INCLUDING NINE ACTIVE ALUMNI AFFINITY GROUPS. FORM 990, PART VI, SECTION A, LINE 2 THE TRUSTEES FRANK BYNUM, FRANK LOVERRO AND SANDY OSBORNE HAVE A SHARED OWNERSHIP INTEREST IN KELSO & COMPANY, INC. THE FOLLOWING TRUSTEES ARE ASSOCIATED WITH THE SAME ORGANIZATION: NICOLE LEVIN MESARD IS A PARTNER OF DEBEVOISE & PLIMPTON; JOHN HALL IS OF COUNSEL. MARTIN LIPTON, JONATHAN MOSES, JEANNEMARIE O'BRIEN, AND KARESSA CAIN ARE PARTNERS OF WACHTELL, LIPTON, ROSEN & KATZ, FORM 990, PART VI, SECTION B, LINE 11B BEFORE FILING, THE 990 IS REVIEWED BY THE TREASURER OF PREP FOR PREP, DISTRIBUTED TO ALL MEMBERS OF THE FINANCE COMMITTEE FOR REVIEW, APPROVED BY THE EXECUTIVE COMMITTEE OF TRUSTEES, AND DISTRIBUTED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE FINANCE COMMITTEE IS EMPOWERED TO INVESTIGATE ANY MATTER BROUGHT TO ITS ATTENTION WITH FULL ACCESS TO ALL BOOKS, RECORDS, FACILITIES AND PERSONNEL OF PREP. IN KEEPING WITH ITS CHARTER, THE FINANCE COMMITTEE ANNUALLY REVIEWS AND DISCUSSES WITH MANAGEMENT AND THE INDEPENDENT AUDITORS THE ADEQUACY AND EFFECTIVENESS OF PREP'S LEGAL, REGULATORY AND ETHICS COMPLIANCE PROGRAMS, INCLUDING PREP'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE STAFF RECRUITMENT AND COMPENSATION COMMITTEE OF THE BOARD ASSISTS THE EXECUTIVE COMMITTEE OF THE BOARD IN DETERMINING COMPENSATION OF SENIOR MANAGEMENT. THE COMMITTEE REVIEWS THE COMPENSATION OF THE CHIEF EXECUTIVE AND KEY EMPLOYEES EACH YEAR AND RECOMMENDS CHANGES OR ADJUSTMENTS TO THE EXECUTIVE COMMITTEE. REVIEW INCLUDES USE OF COMPARABILITY DATA AND ENGAGEMENT OF OUTSIDE EXPERTS AND OTHER ADVISORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL REPORTS AVAILABLE TO THE PUBLIC UPON REQUEST.