2020-04-14T06:57:56-05:00 2019-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2018-07-01 811625366 NORTH STAR ACADEMY FOUNDATION INC NORT 7186406355 C/O RHF 826 BROADWAY 9TH FL NEW YORK NY 10003 BRETT PEISER CEO 7186406355 2020-04-09 1 JOHN BUCKLEY CPA P00830631 5083669100 2020-04-09 40.70.31.102 2020-04-09 10:11:10 ED P 2DDD31951ED2AB8CB25029F66ABAED5153B45454 2DDD31951ED2AB8CB25029F66ABAED5153B45454 2018 2021-01-29 14:40:06Z BRETT PEISER 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 10961137 0 X WWW.UNCOMMONSCHOOLS.ORG X 2016 NJ NSA FOUNDATION WAS FORMED TO SUPPORT NORTH STAR ACADEMY CHARTER SCHOOL OF NEWARK, BOTH OPERATIONALLY AND IN CONNECTION WITH THE ACQUISITION AND DEVELOPMENT OF FACILITIES. 4 3 0 3 67445 -23684 0 0 5563312 10585109 218529 -253111 93185 92464 5875026 10424462 9828045 40974 0 0 0 0 0 0 0 5987017 12114167 15815062 12155141 -9940036 -1730679 194522738 185028576 194389353 186625870 133385 -1597294 NSA FOUNDATION WAS FORMED TO SUPPORT NORTH STAR ACADEMY CHARTER SCHOOL OF NEWARK, BOTH OPERATIONALLY AND IN CONNECTION WITH THE ACQUISITION AND DEVELOPMENT OF FACILITIES. 0 0 12155141 40974 10517664 EXPENSES INCURRED IN SUPPORTING NORTH STAR ACADEMY CHARTER SCHOOL OF NEWARK. PLEASE REFER TO FORM 990, PART III, LINE 1, FOR THE ORGANIZATION'S MISSION. 12155141 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 24 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X BRETT PEISER 7186406355 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 BRETT PEISER DIRECTOR / CEO 1.00 46.00 X X 0 326984 21152 BROOKE REID DIRECTOR 1.00 X 0 0 0 RAVI BELLUR DIRECTOR 1.00 X 0 0 0 NORMAN ATKINS DIRECTOR 1.00 X 0 0 0 DIANNE FLYNN FORMER DIRECTOR / CFO (LEFT IN FY18) 0.00 0.00 X 0 141228 0 0 468212 21152 0 1 1 0 DBI PROJECTS LLC 1261 BROADWAY 9TH FLOOR NEW YORK NY 10001 CONSTRUCTION 675158 PHILADELPHIA THEATRICAL SUPPLY 229 N 12TH STREET PHILADELPHIA PA 19107 CONSTRUCTION 384544 KSS ARCHITECTS LLP 337 WITHERSPOON ST PRINCETON NJ 08542 CONSTRUCTION 325041 ARBEE ASSOCIATES PO BOX 24016 NEWARK NJ 07101 DESIGN 304754 WHITMAN 7 PLEASANT HILL ROAD CRANBURY NJ 08512 ENVIRONMENTAL CONSULTING 179299 6 RENTAL INCOME 531110 10083741 10016296 67445 MANAGEMENT FEES 900099 501368 501368 10585109 283564 283564 536675 -536675 -536675 -536675 BOND PREMIUM AMORTIZATION 522100 92464 92464 92464 10424462 10517664 67445 -160647 40974 40974 6909 6909 2100 2100 250846 250846 403400 403400 6515269 6515269 3809987 3809987 LOAN EXTENSION FEES 624288 624288 FACILITY MANAGEMENT FEE 501368 501368 12155141 12155141 0 0 3314539 6495112 501368 91264 40787 185878192 15345887 83241582 170532305 107875353 7459004 194522738 185028576 12670752 4227389 1128045 26283409 26190945 71017221 79878466 83289926 76329070 194389353 186625870 X 133385 -1597294 133385 -1597294 194522738 185028576 -1730679 0 X X 0 1 X 1 0 X 5500000 600000 6100000 5500000 600000 6100000 6100000 30919 311714 376028 718661 6818661 21330300 X PART II, SHORT YEAR EXPLANATION: NORTH STAR ACADEMY FOUNDATION INC. WAS INCORPORATED ON FEBRUARY 9, 2016 RESULTING IN A SHORT YEAR OF REPORTING FOR THE ORGANIZATION ON THE 2015 FEDERAL FORM 990. 10099957 10099957 79957940 6935621 73022319 95820295 8410266 87410029 170532305 CAPITAL LEASE OBLIGATION 2825612 DUE TO RELATED PARTIES 1653490 NOTES PAYABLE TO RELATED PARTIES 70903497 CONSTRUCTION ADVANCES 946471 76329070 X PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR THE UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS AT JUNE 30, 2019. 1 NORTH STAR ACADEMY CHARTER SCHOOL 10 WASHINGTON PLACE NEWARK NJ 07102 223497097 NEW JERSEY 40974 REAL ESTATE GRANT 1 PART I, LINE 2: UNCOMMON SCHOOLS, INC. SERVES AS THE MANAGEMENT ORGANIZATION TO THE PARTIES LISTED ON PART II. AS SUCH, THE USE OF GRANT FUNDS ARE MONITORED BY UNCOMMON SCHOOLS, INC.'S FINANCE PERSONNEL AS THEY MANAGE THE ACCOUNTING RECORDS OF THE PARTIES LISTED ON PART II. X X X 0 0 0 0 0 0 0 0 0 BRETT PEISER DIRECTOR / CEO 0 324687 0 2297 0 0 0 3500 0 17652 0 348136 0 0 DIANNE FLYNN FORMER DIRECTOR / CFO (LEFT IN FY18) 0 116228 0 25000 0 0 0 0 0 0 0 141228 0 0 A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 64577BL77 2017-10-25 26376594 FINANCING THE CONSTRUCTION OF REAL PROPERTY 0 1 0 A 26376594 4807073 938650 526813 20104058 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 0 0 0 0 0 A 1 FORM 990, PART VI, SECTION A, LINE 7A TWO-THIRDS OF THE INDEPENDENT TRUSTEES OF NORTH STAR ACADEMY FOUNDATION ARE APPOINTED BY THE BOARD OF TRUSTEES OF UNCOMMON SCHOOLS, INC. IN ADDITION, AS VACANCIES ARISE ON THE NORTH STAR ACADEMY FOUNDATION BOARD, THE BOARD OF TRUSTEES OF UNCOMMON SCHOOLS, INC. HAS THE RIGHT TO APPOINT TWO OF THE THREE INDEPENDENT TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE FEDERAL FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS OF NORTH STAR ACADEMY FOUNDATION, INC. FOR REVIEW BY ITS MEMBERS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF DIRECTORS, OFFICERS, KEY EMPLOYEES AND SENIOR MANAGEMENT PERSONNEL COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION'S CHIEF FINANCIAL OFFICER FOR REVIEW. THEREAFTER, IF ANY CONFLICTS ARE IDENTIFIED, THE CHIEF FINANCIAL OFFICER PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES FOR REVIEW WITH THE BOARD OF DIRECTORS. WHEN NECESSARY, PROCEDURES ARE CREATED FOR ADDRESSING ANY IDENTIFIED CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 TWO OF NORTH STAR ACADEMY FOUNDATION, INC.'S DIRECTORS AND/OR OFFICERS ARE EMPLOYEES OF UNCOMMON SCHOOLS, INC. THESE INDIVIDUALS ARE COMPENSATED ONLY FOR THEIR EMPLOYMENT SERVICES TO UNCOMMON SCHOOLS, INC. THE COMPENSATION IS PAID ONLY BY UNCOMMON SCHOOLS, INC. UNCOMMON SCHOOLS INC.'S BOARD OF DIRECTORS HAS A COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE COMPLETES A COMPARATIVE ANALYSIS OF SIMILAR ORGANIZATIONS WHICH IT USES AS GUIDANCE WHEN IT REVIEWS AND APPROVES THE COMPENSATION AND BENEFITS OF SENIOR MANAGEMENT. THE COMPENSATION COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE INDIVIDUALS WHICH INCLUDES BOTH CURRENT AND DEFFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND UNQUALIFIED. THE COMPENSATION COMMITTEE'S REVIEW IS COMPLETED ON A REGULAR BASIS AND ENSURES THAT THE "TOTAL COMPENSATION" OF SENIOR MANAGEMENT IS REASONABLE. THE ACTIONS TAKEN BY THE COMPENSATION COMMITTEE ENABLE UNCOMMON SCHOOLS, INC. TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR PURPOSES OF INTERNAL REVENUE CODE 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 COMPENSATION COMMITTEE IS COMPRISED OF MEMBER OF THE BOARD OF TRUSTEES/DIRECTORS OF UNCOMMON SCHOOLS, INC. EACH OF WHOM ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. THE COMPENSATION COMMITTEE ADEQUATELY DOCUMENTED ITS BASIS FOR ITS DETERMINATION THROUGH THE TIMELY PREPARATION OF WRITTEN MINUTES OF THE COMPENSATION COMMITTEE'S MEETINGS WHICH THE EXECUTIVES' COMPENSATION AND BENEFITS WERE REVIEWED AND SUBSEQUENTLY APPROVED. THE ACTIONS OUTLINED ABOVE WITH RESPECT TO THE COMPENSATION COMMITTEE AND THE ESTABLISHMENT OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS ONLY APPLIES TO CERTAIN SENIOR MANAGEMENT PERSONNEL OF UNCOMMON SCHOOLS, INC. FORM 990, PART VI, SECTION C, LINE 19 NORTH STAR ACADEMY FOUNDATION, INC'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND CONSOLIDATED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE THE OVERSIGHT PROCESS DURING THE TAX YEAR. NSA 559 BROAD STREET LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 462996274 REAL ESTATE NJ 276703 8370687 NORTH STAR ACADEMY FOUNDATION INC NSA 10 WASHINGTON LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 811625366 REAL ESTATE NJ 418350 6164041 NORTH STAR ACADEMY FOUNDATION INC NSA CLINTON AVE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 811625366 REAL ESTATE NJ 529940 7993713 NORTH STAR ACADEMY FOUNDATION INC NSA CENTRAL AVE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 811625366 REAL ESTATE DE 1672575 19917464 NORTH STAR ACADEMY FOUNDATION INC NSA HAZELWOOD AVE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 811625366 REAL ESTATE NJ 1281682 26696833 NORTH STAR ACADEMY FOUNDATION INC NSA 377 WASHINGTON STREET LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 474333391 REAL ESTATE NJ 3077422 67948386 NORTH STAR ACADEMY FOUNDATION INC NSA S 9TH STREET & ALEXANDER LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 463043354 REAL ESTATE NJ 0 0 NORTH STAR ACADEMY FOUNDATION INC 72 CENTRAL LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 811625366 REAL ESTATE NJ 777108 4089480 NORTH STAR ACADEMY FOUNDATION INC NSA LIVINGSTON STREET LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 812184830 REAL ESTATE NJ 223303 23891 NORTH STAR ACADEMY FOUNDATION INC NSA 18TH AVE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 475658051 REAL ESTATE NJ 1992320 32792029 NORTH STAR ACADEMY FOUNDATION INC NSA 18 WASHINGTON PLACE LLC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 812094137 REAL ESTATE NJ 711734 10898652 NORTH STAR ACADEMY FOUNDATION INC UNCOMMON SCHOOLS INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 311488698 MANAGEMENT SERVICES NJ 501(C)(3) LINE 7 0 EXCELLENCE ACADEMIES FOUNDATION INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 010790110 SUPPORT SERVICES DE 501(C)(3) LINE 12A, I UNCOMMON SCHOOLS INC 0 UNCOMMON LENDER INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 263594129 LENDING SERVICES NJ 501(C)(3) LINE 7 UNCOMMON SCHOOLS INC 0 ROCHESTER PREP FOUNDATION INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 813293784 REAL ESTATE NJ 501(C)(3) LINE 7 UNCOMMON SCHOOLS INC 0 CAMDEN PREP FOUNDATION INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 813286453 REAL ESTATE NJ 501(C)(3) LINE 7 UNCOMMON SCHOOLS INC 0 TROY PREP FOUNDATION INC 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 813293910 REAL ESTATE NJ 501(C)(3) LINE 7 UNCOMMON SCHOOLS INC 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0