2018-03-16T14:47:38-05:00 2017-05-31 420714325 RSM US LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2016-06-01 951716809 Pacific Oaks Education Corporation PACI 6265298061 55 Eureka Street Pasadena CA 91103 Mehul Patel Corporate Treasurer 6265298061 2018-03-15 1 Wayne Harder P00294296 3126343400 69.174.87.76 2018-03-15 16:58:46 CD P C4F2DD48AE2D6D3993C7AA5ECD4472E120F718FD E8306AB20C0160E8154E0B2ED0E8D71D75EF1DFE 2016 2021-01-29 14:40:06Z Michael Horowitz 350 N Orleans Ste 1050 Chicago IL 60654 29846907 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. 20 15 359 204 0 0 237812 373957 22580582 22697166 266443 986217 151777 225674 23236614 24283014 1021637 1089220 0 0 10497164 10802549 0 0 257841 9847616 11336482 21366417 23228251 1870197 1054763 23236618 42611998 5560702 24336251 17675916 18275747 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 13498472 1089220 22697166 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 serves more than 1,700 students. 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. 13498472 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 1 0 0 0 0 1 0 0 0 0 1 0 0 0 1 71 0 1 359 1 0 0 0 0 0 1 1 0 0 0 0 X 20 15 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 350 North Orleans Suite 1050 Chicago IL 60654 Edward Bergmark Council Chair 2.00 10.00 X 0 0 0 George Mitchell Vice Chair of Council 2.00 14.00 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 Olin Barrett Trustee 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 14.00 X 0 0 0 Dean Chung Trustee (until 8/29/16) 2.00 0.00 X 0 0 0 Renatta Cooper Trustee 2.00 0.00 X 0 0 0 Dorothy Farris Trustee (until 5/5/17) 2.00 2.00 X 0 0 0 Terrence Layng Trustee 2.00 8.00 X 0 0 0 Albert Morell Trustee 2.00 0.00 X 0 0 0 Steven Nakisher Trustee 2.00 10.00 X 0 0 0 Teresa Nuno Trustee 2.00 0.00 X 0 0 0 Donald Packham Trustee 2.00 38.00 X 0 268070 30402 Mary Pattiz Trustee 2.00 10.00 X 0 0 0 Patricia Potter Trustee 2.00 10.00 X 0 0 0 Dickran Tevrizian Trustee 2.00 0.00 X 0 0 0 Mary Tudela Trustee (until 8/1/16) 2.00 2.00 X 0 0 0 Michael Horowitz Corporate President/Trustee 2.00 38.00 X X 0 1044992 272027 Jennifer DeMay Corporate Secretary 2.00 38.00 X X 0 275688 36624 Mehul Patel Corporate Treasurer 2.00 38.00 X X 0 166851 13468 Patricia Breen College President/Trustee 40.00 0.00 X X 374132 0 58631 Shari Mikos Assistant Corporate Secretary 2.00 38.00 X 0 170577 13467 Melanie Sauer Chief Operating Officer 40.00 0.00 X 153376 0 2840 Marcia Bankirer Campus Dean 40.00 0.00 X 123729 0 9417 Terry Ratcliff Dean of Academic Affairs 40.00 0.00 X 112532 0 5924 Franklin Frias AVP Student Services 40.00 0.00 X 111390 0 13992 Crystal Czubernat VP of Enrollment Management 40.00 0.00 X 113910 0 19143 Theresa Greene Associate Dean 40.00 0.00 X 104503 0 13928 1093572 1926178 489863 9 0 1 0 US Security Associates Inc 200 Mansell Court East Suite 500 Roswell GA 30076 Security Services 201859 1 16781 357176 30311 373957 Tuition & Fee Revenue 611310 22642567 22642567 Other School Revenue 900099 54599 54599 22697166 185218 185218 13318 13318 6330357 5529358 800999 800999 800999 127366 16781 34535 92831 92831 119525 119525 119525 24283014 22697166 0 1211891 1089220 1089220 588979 504794 72638 11547 8280124 7096609 1021182 162333 419752 312980 105506 1266 779640 636400 126675 16565 734054 656064 63035 14955 2102597 98796 1994462 9339 626170 5210 620960 8658 8658 2245067 34641 2210051 375 225799 122017 84299 19483 13010 11227 638 1145 2475552 1784818 690333 401 136967 100534 32949 3484 169999 123712 44931 1356 23371 23371 441436 441436 117418 117418 Student Services Expens 1695647 274556 1421091 Bad Debt Expense 311716 311716 Dues and Memberships 60053 32548 24076 3429 683022 172910 497949 12163 23228251 13498472 9471938 257841 8358264 4808272 1002527 1140193 458899 573437 75000 50000 869877 148892 232671 25701878 1277502 3169839 24424376 8711153 10909570 325974 390614 116193 82865 23236618 42611998 2261309 2256036 2635392 2517185 0 15847212 2600000 664001 1115818 5560702 24336251 X 11895805 11913173 1689852 2112524 4090259 4250050 17675916 18275747 23236618 42611998 X 1054763 101645 -556577 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7396666 1159791 1032986 335786 9253657 6756378 1073878 -104988 328602 7396666 6625394 17443 430153 316612 6756378 6090655 862329 327590 6625394 4494648 1000000 811120 191069 24044 6090655 0.37620 0.45930 0.16450 0 0 14337048 14337048 10128257 430386 9697871 60162 22250 37912 541028 440629 100399 635383 384237 251146 24424376 Deferred Rent 55956 Due to Affiliates 112671 Other Liabilities 390614 Interest Rate Swap 556577 1115818 X 22730204 101645 -556577 -454932 23185136 8658 1089220 1097878 24283014 22686950 556577 556577 22130373 8658 1089220 1097878 23228251 Part V, Line 4: The POEC endowment represents a significant capital asset of the Institution. The purpose of the endowment is to increase net assets and to support the mission of Pacific Oaks Education Corporation. 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 year ended May 31, 2017. POEC files Form 990 annually in the U.S. federal jurisdiction and in the State of California. POEC's Form 990 for fiscal year 2014 and subsequent years are subject to examination by the Internal Revenue Service and the State of California. Part XI, Line 2d - Other Adjustments: Net unrealized loss on rate swap -556,577. Part XI, Line 4b - Other Adjustments: Scholarships reported as a contra revenue account 1,089,220. Part XII, Line 2d - Other Adjustments: Net unrealized loss on rate swap 556,577. Part XII, Line 4b - Other Adjustments: Scholarships reported as a contra revenue account 1,089,220. 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 129485 16781 112704 15176 8854 852 Fall Festival 14662 14662 5074 58 3608 913 144147 16781 127366 20250 8912 3608 1765 34535 92831 1 Scholarships 897 1089220 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. 1 0 1 0 0 0 0 0 1 0 Donald Packham Trustee 0 215285 0 52785 0 0 0 19156 0 11246 0 298472 0 0 Michael Horowitz Corporate President/Trustee 0 581073 0 417000 0 46919 0 218393 0 53634 0 1317019 0 0 Jennifer DeMay Corporate Secretary 0 220608 0 55080 0 0 0 19992 0 16632 0 312312 0 0 Mehul Patel Corporate Treasurer 0 153351 0 13500 0 0 0 8241 0 5227 0 180319 0 0 Patricia Breen College President/Trustee 309688 0 63750 0 694 0 41120 0 17511 0 432763 0 0 0 Shari Mikos Assistant Corporate Secretary 0 137577 0 33000 0 0 0 12295 0 1172 0 184044 0 0 Melanie Sauer Chief Operating Officer 149911 0 3465 0 0 0 2149 0 691 0 156216 0 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 Organizations - Approval by the Board or Compensation Committee Part I, Line 4b Line 4b: Dr. Michael Horowitz is vested in a 457(f) plan, for which the calendar year 2016 contributions from TCS Education System totaled $147,393. 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 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 Patricia Breen College President Relocation Incentive X 75000 50000 0 1 1 50000 X 1 30311 FMV 0 0 1 0 Part I, Column (b): is the number of contributions. 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 or the Corporate Risk and Compliance Committee "CRCC" 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 or CRCC, 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 committe members 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 The related organization, TCS Education System, has established an Executive Committee who reviews and approves the compensation of all executives of the Corporation to determine that it is just and reasonable. The Executive Committee 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, in conjunction with TCS Education System, engages an outside independent compensation consultant to benchmark salaries and benefits. Executive salaries are reviewed and approved by the Board's executive committee with the assistance of a benefits consulting form (Aon Hewitt Associates) 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 loss on rate swap -556,577. Santa Barbara & Ventura Colleges of Law 4475 Market Street Ventura CA 93003 952592468 Education CA 501(c)(3) Line 2 TCS Education System 0 The Chicago School - California Inc 617 West 7th Street Los Angeles CA 90017 900394713 Education CA 501(c)(3) Line 2 TCS Education System 0 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 0 TCS Education System 350 North Orleans Suite 1050 Chicago IL 60654 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 0 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 0 TCS Education - Texas Inc 350 North Orleans Suite 1050 Chicago IL 60654 364769956 Education TX 501(c)(3) Line 2 TCS Education System 0 Saybrook University 475 14th Street Oakland CA 94612 942155109 Education CA 501(c)(3) Line 2 TCS Education System 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1