2020-04-14T11:31:18-05:00 2019-05-31 420714325 RSM US LLP 1 S Wacker Drive Ste 800 Chicago IL 60606 990 2018-06-01 951716809 Pacific Oaks Education Corporation PACI 6265298061 45 Eureka Street Pasadena CA 91103 Mehul Patel Corporate Treasurer 3123791699 2020-04-09 1 Rebekuh Eley P01247672 3126343400 73.74.100.171 2020-04-09 17:08:29 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0E3200EA8E12EF20DE9AC86D87358EA52CBD945C 2018 2020-09-23 17:36:50Z Michael Horowitz 203 N LaSalle Ste 1900 Chicago IL 60601 26815723 0 X www.PacificOaks.edu X 1945 CA POEC prepares students to be culturally intelligent agents of change serving diverse communities in fields of human development, education, and family studies. 19 17 387 188 0 0 217190 516744 22610054 22525447 394812 550928 737545 678299 23959601 24271418 954237 755420 0 0 11057723 11551293 0 0 216989 10704447 11454495 22716407 23761208 1243194 510210 43763677 45558602 22989468 25383256 20774209 20175346 X Pacific Oaks Education Corporation is dedicated to preparing innovative, engaged, purposeful agents of change who serve the global community. The mission of the College states "Grounded in its social justice heritage, Pacific Oaks College prepares students to be culturally intelligent agents of change serving diverse communities in the fields of human development, education, and related family studies." The primary focus of the Children's School is placed upon all needs of young children and their families, and all those who, in a direct or indirect manner, touch their lives each day. The mission of the Corporation is inclusive of the mission of the College and primary focus of the Children's School. 0 0 15617595 755420 22525447 Pacific Oaks Education Corporation (POEC) is dedicated to preparing innovative, engaged, purposeful agents of change who serve the global community. The mission of the College states "Grounded in its social justice heritage, Pacific Oaks College prepares students to be culturally intelligent agents of change serving diverse communities in the fields of human development, education, and related family studies." The primary focus of the Children's School is placed upon all needs of young children and their families, and all those who, in a direct or indirect manner, touch their lives each day. The mission of the Corporation is inclusive of the mission of the College and primary focus of the Children's School.Pacific Oaks College is an accredited college by WASC Senior College and University Commission. Pacific Oaks College offers a range of bachelor's, master's and certificate programs in both flexible online and on-ground in-classroom formats to meet the needs of non-traditional and adult students. Pacific Oaks College served more than 1,800 students during the fiscal year ended May 31, 2019. The Children's School offers both part-time and full-time early childhood education programs for infants, toddlers, and young children through age six. The Children's School enrollment is over 200 children. 15617595 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 75 0 1 387 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 19 17 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 0 0 0 CA X Mehul Patel 3123791699 203 N LaSalle Street Suite 1900 Chicago IL 60601 Edward Bergmark Council Chair 2.00 10.00 X 0 0 0 George Mitchell Vice Chair of Council 2.00 16.00 X 0 0 0 Fred Marcus Board Chair 2.00 0.00 X 0 0 0 Valerie Coachman-Moore Vice Chair 2.00 0.00 X 0 0 0 Priscilla Burgess-Gamb Trustee 2.00 0.00 X 0 0 0 Richard Chaifetz Trustee 2.00 16.00 X 0 0 0 Renatta Cooper Trustee 2.00 0.00 X 0 0 0 Ryan C Eisenberg Trustee 2.00 0.00 X 0 0 0 Terrence Layng Trustee 2.00 10.00 X 0 0 0 Albert Morell Trustee (Until 1/19) 2.00 0.00 X 0 0 0 Teresa Nuno Trustee 2.00 0.00 X 0 0 0 Donald Packham Trustee (Until 5/19) 2.00 38.00 X 0 291347 39845 Mary Pattiz Trustee 2.00 12.00 X 0 0 0 Patricia Potter Trustee 2.00 12.00 X 0 0 0 Angela Vazquez Trustee 2.00 0.00 X 0 0 0 Victoria Burwell Trustee 2.00 0.00 X 0 0 0 Jana Johnston Trustee 2.00 12.00 X 0 0 0 Kevin Kotecki Trustee 2.00 12.00 X 0 0 0 Douglas Patinkin Trustee 2.00 12.00 X 0 0 0 Michael Horowitz Corp. President/Trustee 2.00 38.00 X X 0 1105741 261065 Patricia Breen College Pres/Trustee (Until 1/19) 40.00 0.00 X X 400097 0 63746 Jack Paduntin Trustee/College President 17.00 23.00 X X 0 220191 24761 Mehul Patel Corporate Treasurer 2.00 38.00 X X 0 252019 25473 Deborah Solmor Corporate Secretary (As of 10/18) 2.00 38.00 X X 0 124543 898 Shari Mikos Asst. Corp. Secretary (As of 10/18) 2.00 38.00 X X 0 197319 21142 Louvenia Hardaway Asst. Corp. Secretary (As of 6/18) 2.00 38.00 X 0 78288 15991 Marcia Bankirer Campus Dean 40.00 0.00 X 146796 0 33549 Franklin Frias VP, Strategic Initiatives 40.00 0.00 X 114148 0 17953 Michael Patton AVP of Admissions 40.00 0.00 X 128999 0 17233 Robert Boyman Exec. Dir. - Childrens' School 40.00 0.00 X 112180 0 17302 Bree Cook VP, Academic Affairs 40.00 0.00 X 113557 0 34267 Jennifer DeMay Fomer Officer (Left 4/2018) 0.00 0.00 X 0 149251 18691 1015777 2418699 591916 6 1 1 0 John Wolcott Associates Inc 3859 Cardiff Avenue Culver City CA 90232 Architectural 175085 Steptoe & Johnson LLP 1330 Connecticut Avenue NW Washington DC 20036 Legal 147972 CCS Los Angeles Janitorial Inc PO Box 845112 Los Angeles CA 900845114 Janitorial 109016 3 10981 505763 9221 516744 Tuition & Fee Revenue 611310 22449485 22449485 Other School Revenue 900099 75962 75962 22525447 440993 440993 12568 12568 558898 0 558898 558898 558898 2607521 2497586 109935 109935 109935 112171 10981 46719 65452 65452 41381 41381 41381 24271418 22525447 0 1229227 755420 755420 677356 169339 508017 8733539 7792569 801680 139290 423335 365481 48756 9098 959117 753791 188734 16592 757946 687220 59729 10997 2084626 2084626 237464 237464 8509 8509 641805 530203 103809 7793 2420671 2420671 239085 162683 69340 7062 2200 1394 697 109 1326571 590034 731028 5509 158130 135120 20079 2931 217842 137188 80654 696431 613334 73342 9755 410191 373808 30443 5940 131462 131462 Student Services Exp. 1750866 1750355 500 11 Bad Debt Exp. 151892 151892 Dues and Memberships 51623 30007 19714 1902 925127 769649 155478 23761208 15617595 7926624 216989 1733368 6345900 3639627 992496 604157 555743 25000 0 206190 232099 27730863 2147640 24604793 25583223 11961399 11435476 443426 333864 545717 79801 43763677 45558602 2310311 2697473 2253606 2404256 15397990 16913338 2536400 2470400 491161 897789 22989468 25383256 X 14320709 13915392 2199110 2004526 4254390 4255428 20774209 20175346 43763677 45558602 X 510210 -328924 -780149 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9635532 1037 136161 278109 9494621 9253657 4340 788397 410862 9635532 7396666 1159791 1032986 335786 9253657 6756378 1073878 -104988 328602 7396666 6625394 17443 430153 316612 6756378 0.40440 0.44820 0.14740 0 0 14337048 14337048 10954172 973074 9981098 60162 46811 13351 561465 546675 14790 1818016 581080 1236936 25583223 Deferred Rent 14728 Other Liabilities 333864 Swap Valuation Liability 541001 Due to Related Party 8196 897789 X 22419091 -328924 -780149 -1109073 23528164 8509 734745 743254 24271418 23017954 20675 20675 22997279 8509 755420 763929 23761208 Part V, Line 4: POEC's endowment consists of donor-restricted funds and a Board designated fund for general institutional support. The endowment funds are primarily used for student financial assistance and mission advancement. Part X, Line 2: POEC has received notification that it qualifies as a tax-exempt organization under Section 501(c)(3) of the U.S. Internal Revenue Code and corresponding provisions of the State of California law. The accounting standard on accounting for uncertainty in income taxes 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, POEC 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. Examples of tax positions include the tax-exempt status of POEC and various positions related to the potential sources of unrelated business taxable income. There were no unrecognized tax benefits identified or recorded as liabilities during the years ended May 31, 2019 or 2018. POEC files Form 990 annually in the U.S. federal jurisdiction and in the State of California. Part XI, Line 2d - Other Adjustments: Net unrealized gain on interest rate swap -780,149. Part XI, Line 4b - Other Adjustments: Scholarships reported as a contra revenue account 755,420. Interest income netted against expenses 26,044. Fundraising expenses -46,719. Part XII, Line 2d - Other Adjustments: Interest income netted against expenses -26,044. Fundraising expenses 46,719. Part XII, Line 4b - Other Adjustments: Scholarships reported as a contra revenue account 755,420. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Pacific Oaks College and Children's School nondiscrimination policies are published in the academic catalog, student handbook, and admissions policies, which are available to the public via the Institution's website. Schedule E, Part I, Line 6 POEC receives funds from the US Department of Education for several student financial assistance programs, including the Federal Direct Stafford Loan Program, Federal Direct Grad Plus Loan Program, Federal Direct Plus Loan Program, Federal Pell Grant Program, Federal Supplemental Education Opportunity Grant Program, and Federal Work-Study Program. POEC also receives state funding from the California monetary assistance programs including California Grant A, California Grant B, California Grant T, and California Grant Subsistence. Spring Benefit 96580 4475 92105 7419 8993 10470 Fall Festival 17141 17141 2056 6552 2698 1 9431 6506 2925 4980 1474 2077 123152 10981 112171 4980 9475 17019 2698 12547 46719 65452 1 Scholarships 516 755420 0 Part I, Line 2: POEC gives need-based and merit-based scholarships. Need-based scholarships are monitored through the Department of Education FAFSA form. Students with $0 estimated family contribution (EFC), based on the Department of Education guidelines, will be automatically awarded a scholarship. Merit-based scholarships are granted to students who submit all required documentation by certain deadlines and apply with good academic standing. 0 1 0 0 0 0 0 1 0 Donald Packham Trustee (Until 5/19) 0 232597 0 58750 0 0 0 20845 0 19000 0 331192 0 0 Michael Horowitz Corp. President/Trustee 0 615916 0 442395 0 47430 0 229870 0 31195 0 1366806 0 0 Patricia Breen College Pres/Trustee (Until 1/19) 303846 0 70125 0 26126 0 44138 0 19608 0 463843 0 0 0 Jack Paduntin Trustee/College President 0 183741 0 36450 0 0 0 5075 0 19686 0 244952 0 0 Mehul Patel Corporate Treasurer 0 202019 0 50000 0 0 0 18281 0 7192 0 277492 0 0 Shari Mikos Asst. Corp. Secretary (As of 10/18) 0 157319 0 40000 0 0 0 14625 0 6517 0 218461 0 0 Marcia Bankirer Campus Dean 146796 0 0 0 0 0 11337 0 22212 0 180345 0 0 0 Jennifer DeMay Fomer Officer (Left 4/2018) 0 98101 0 51150 0 0 0 8370 0 10321 0 167942 0 0 Part I, Line 3 Pacific Oaks Education Corporation relied on a related organization, TCS Education System, that used one or more of the methods described below to establish the top management official's compensation. - Compensation Committee - Independent Compensation Consultant - Compensation Survey or Study - Form 990 of Other Organization - Approval by the Board or Compensation Committee Part I, Line 4b Line 4b: Dr. Michael Horowitz participates in a 457(f) plan, for which the calendar year 2018 contributions from TCS Education System totaled $156,370. Part I, Line 7 The target opportunity for the discretionary award is established through market compensation and internal policy so as to relate pay, performance and rewards. Upon reviewing annual performance, the Executive Committee of the Board of Trustees determines results and the granting of discretionary awards, if any. A Illinois Finance Authority 861091967 2017-05-18 18400000 Purchase Facilities and Capital Expenditures 0 0 0 A 951600 18400000 286819 18113181 0 0 1 1 A 0 0 0 0 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 Form 990, Part VI, Section A, line 6 TCS Education System ("TCS ES") is the sole corporate member of Pacific Oaks Education Corporation ("POEC"). Form 990, Part VI, Section A, line 7a The Member has the authority to consent to the election of persons to membership on the Board of Trustees, this shall include any elections of persons to Trustees Emeriti status and shall apply to any removal of a member of the Board. Form 990, Part VI, Section A, line 7b The powers and authority of the Member shall be limited to the following: i.The authority of the Member to consent to a change in the Mission or Purpose of the Corporation. ii.The authority of the Member to consent to a change in the legal entity or tax structure of the Corporation. iii.The authority of the Member to consent to Amendments to the Articles of Incorporation or Bylaws. In addition to the power and authority reserved to the Member in the Articles of Incorporation, the Member shall have the full and exclusive authority to take any action reserved, or granted to it in these Bylaws or applicable law. Form 990, Part VI, Section B, line 11b The IRS Form 990 is prepared by an independent accounting firm (RSM US LLP) along with the advice of management and attorneys of the organization. The Form 990 is made available to the Governing Board prior to filing with the IRS. Form 990, Part VI, Section B, line 12c An Interested Person must annually disclose the existence of the facts and circumstances of any conflict of interest to either 1) the Board members and members of Board committees or 2) the Director of Human Resources with respect to any action or proposed action that gives rise to the conflict of interest. Pending review and resolution by the Board or the Governance Committee or Human Resources, the Interested Person shall be excluded from any deliberations or action concerning conflicts of the matter that gives rise to the conflict of interest. Each Board member, corporate officer, Board committee member, and key employee shall annually sign a statement that affirms that such person a) has received a copy of the conflict of interest policy, b) has read and understands the policy, c) has agreed to comply with the policy, d) understands that the Corporation is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities that accomplish one or more of its tax-exempt purposes. Form 990, Part VI, Section B, line 15 Each Board's Executive Committee reviews and approves the compensation of certain executives of the Corporation to determine that it is just and reasonable. The Executive Committee, in coordination with TCS Education System, shall conduct or cause to be conducted an analysis of the compensation to be paid to the executive as compared to other executives in similar positions with similar organizations. The Executive Committee engages an outside independent compensation consultant to benchmark salaries and benefits. Executive salaries are reviewed and approved by each Board's Executive Committee with the assistance of a benefits consulting firm (Korn Ferry) that provides recommendations based on comparative data with other organizations. The Board documents the basis for all compensation determination in the records of the Board. Form 990, Part VI, Section C, line 19 The financial information as well as governance documents, which include the conflict of interest policy, are not made available to the public. Form 990, Part XI, line 9: Net Unrealized gain on rate swap -780,149. Santa Barbara & Ventura Colleges of Law 4475 Market Street Ventura CA 93003 952592468 Education CA 501(c)(3) Line 2 TCS Education System 1 The Chicago School - California Inc 707 Wilshire Blvd Los Angeles CA 90017 900394713 Education CA 501(c)(3) Line 2 TCS Education System 1 The Chicago School of Professional Psychology 325 North Wells Chicago IL 60654 363005527 Education IL 501(c)(3) Line 2 The Chicago School - California Inc 1 TCS Education System 203 N LaSalle Street Suite 1900 Chicago IL 60601 270717860 Supporting Organization IL 501(c)(3) Line 12b, II N/A 0 The Chicago School - Washington DC Inc 901 15th Street NW Washington DC 20005 800477644 Education DC 501(c)(3) Line 2 The Chicago School - California Inc 1 TCSPP Counseling Centers 1990 Westwood Blvd Suite 330 Los Angeles CA 90025 952556403 Education CA 501(c)(3) Line 2 The Chicago School - California Inc 1 TCS Education - Texas Inc 203 N LaSalle Street Suite 1900 Chicago IL 60601 364769956 Education TX 501(c)(3) Line 2 TCS Education System 1 Saybrook University 55 Eureka Street Oakland CA 94612 942155109 Education CA 501(c)(3) Line 2 TCS Education System 1 Kansas Health Sciences Center Inc 221 S Topeka Street Wichita KS 67202 825178988 Education KS 501(c)(3) Line 2 TCS Education System 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1