2017-11-13T09:17:31-06:00 2016-12-31 271728945 PKF O'CONNOR DAVIES LLP 3001 SUMMER STREET 5TH FL EAST STAMFORD CT 06905 990 2016-01-01 263618722 PENCILS OF PROMISE INCORPORATED PENC 2127773170 37 WEST 28TH STREET 3RD FLOOR NEW YORK NY 10001 TOM CASAZZONE COO 2127773170 2017-11-11 1 GARRETT M HIGGINS P00543209 2033232400 2017-11-11 65.51.112.58 2017-11-11 16:27:35 ES P 8F3E04F861F0216E32497907D09A877E57DED22A 45D10729E84C80409783239EA0C370A8A08632B7 2016 2017-02-10 21:41:12Z TOM CASAZZONE 37 WEST 28TH STREET 3RD FLOOR NEW YORK NY 10001 9120378 0 X WWW.PENCILSOFPROMISE.ORG X 2008 CT AT POP, WE BELIEVE EVERY CHILD DESERVES ACCESS TO QUALITY EDUCATION. WE CREATE SCHOOLS, PROGRAMS AND GLOBAL COMMUNITIES AROUND THE COMMON GOAL OF EDUCATION FOR ALL. WE ACCOMPLISH THESE ACTIVITIES BY DEDICATING SIGNIFICANT AMOUNTS OF TIME, LABOR AND EFFORT RAISING MONEY IN THE U.S. THROUGH YOUTH AND PROFESSIONAL ENGAGEMENT PROGRAMS AND SPECIAL EVENTS. THE FUNDS RAISED ALLOW US TO INCREASE OUR DOMESTIC AND INTERNATIONAL REACH AND IMPACT. 11 11 52 25 0 0 7954617 8852814 0 0 580 408 -59852 -201463 7895345 8651759 828599 274108 0 0 2630745 3356590 0 0 1053479 4825795 4772919 8285139 8403617 -389794 248142 4921365 4959415 124838 223899 4796527 4735516 X AT POP, WE BELIEVE EVERY CHILD DESERVES ACCESS TO QUALITY EDUCATION. WE CREATE SCHOOLS, PROGRAMS AND GLOBAL COMMUNITIES AROUND THE COMMON GOAL OF EDUCATION FOR ALL. WE ACCOMPLISH THESE ACTIVITIES BY DEDICATING SIGNIFICANT AMOUNTS OF TIME, LABOR AND EFFORT RAISING MONEY IN THE U.S. THROUGH YOUTH AND PROFESSIONAL ENGAGEMENT PROGRAMS AND SPECIAL EVENTS. THE FUNDS RAISED ALLOW US TO INCREASE OUR DOMESTIC AND INTERNATIONAL REACH AND IMPACT.AT THE CONCLUSION OF 2016, WE HAVE BROKEN GROUND ON 386 SCHOOLS ACROSS THE FOUR COUNTRIES OF LAOS, GHANA, GUATEMALA AND NICARAGUA. OUR SCHOOLS ARE OPEN TO STUDENTS IN EACH COUNTRY AND THE STAGES OF PLANNING AND CONSTRUCTION ARE UNDERWAY IN SEVERAL NEW COMMUNITIES TO AID IN EXPANDING OUR REACH IN 2017. 0 0 3393345 THE FIRST OF OUR CORE PROGRAMS IS SCHOOLS BUILDS. WE PARTNER WITH LOCAL COMMUNITIES AND GOVERNMENTS TO IMPROVE THE STATE OF EDUCATION INFRASTRUCTURE IN COMMUNITIES. OUR SHORT TERM GOALS ARE TO ADDRESS THE NEED FOR IMPROVED INFRASTRUCTURE WITH OUR LONG TERM GOALS BEING TO IMPROVE STUDENT ATTENDANCE, PROGRESSION, AND TEST SCORES. THE BENEFICIARIES OF OUR SCHOOL BUILDING PROGRAM ARE PRIMARY SCHOOL STUDENTS CURRENTLY ATTENDING SCHOOL IN POOR QUALITY STRUCTURES AND PRIMARY SCHOOL TEACHERS CURRENTLY TEACHING IN POOR QUALITY STRUCTURES. THROUGH THE END OF 2016, WE HAVE BROKEN GROUND ON A TOTAL OF 386 SCHOOLS ACROSS OUR GEOGRAPHIES. 1539506 99434 OUR SECOND CORE PROGRAM IS TEACHER SUPPORT. WE SUPPORT TEACHER DEVELOPMENT THROUGH IN-SERVICE AND WORKSHOP TRAINING SESSIONS. OUR STAFF MEMBERS VISIT GOVERNMENT TEACHERS IN OUR COMMUNITIES TWICE PER MONTH TO AID IN LESSON PLANNING, METHODOLOGY TRAINING AND RAPPORT BUILDING WITH STUDENTS. TEACHERS ATTEND WORKSHOPS FOR GROUP TRAINING AND NETWORK BUILDING. WE USE A METHODOLOGY OF TEACHING THAT FOCUSES ON THE ENGAGEMENT OF THE STUDENT BECAUSE MORE ENGAGED STUDENTS PERFORM AT A HIGHER LEVEL. WE DO THIS THROUGH AN EXPRESSIVE PEDAGOGY, WHICH INVOLVES USAGE OF FACIAL EXPRESSIONS, MOTOR MEMORY (SONG, DANCE, SIGN, ETC.) AND CREATIVE DIDACTIC MATERIALS. THE SHORT TERM GOALS OF OUR TEACHER SUPPORT PROGRAMS ARE: TO IMPROVE LESSON PLANNING BY ASSISTING TEACHERS IN THE CREATION AND USE LESSON PLANS; TO BUILD RAPPORT WITH STUDENTS BY ENCOURAGING TEACHERS TO ADOPT OUR INTERACTIVE METHODOLOGY TO BETTER ENGAGE STUDENTS; TO SUPPORT A PEER NETWORK OF TEACHERS THROUGH TEACHER TRAINING WORKSHOPS, AND; TO PROVIDE CLASSROOMS WITH TEACHING AND LEARNING MATERIALS. OUR LONG TERM GOAL IS TO INCREASE PRIMARY STUDENT SCORES IN LITERACY AND NATIONAL LANGUAGE LEARNING ACROSS ALL OUR GEOGRAPHIES. THE MAIN BENEFICIARIES OF OUR TEACHER SUPPORT PROGRAM ARE THE TEACHERS AND STUDENTS IN OUR SCHOOLS AND COMMUNITIES. THROUGH 2016, WE HAVE SUPPORTED 649 TEACHERS ACROSS LAOS, GUATEMALA AND GHANA. 1034357 OUR THIRD CORE PROGRAM IS OUR WASH PROGRAM. WASH IS AN INTERNATIONALLY RECOGNIZED AND UTILIZED PROGRAM THAT IS DESIGNED TO PROVIDE ACCESS TO AND KNOWLEDGE ABOUT WATER, SANITATION, AND HYGIENE. UNICEF ADOPTED WASH IN 2005 AS THEIR PRIMARY INTERVENTION TO TACKLE HYGIENE NEEDS IN THE DEVELOPING WORLD; POP BEGAN WASH PRACTICES IN 2010 IN LAOS AND HAVE SINCE EXPANDED TO GUATEMALA AND GHANA. IN CARRYING OUT THIS PROGRAM, WE BUILD STUDENT AND TEACHER SANITATION FACILITIES (HAND WASHING STATIONS AND BATHROOMS) IN CONJUNCTION WITH CLASSROOM BUILDS. IN ADDITION, OUR STAFF MEMBERS VISIT CLASSES TWICE PER MONTH DURING THE SCHOOL YEAR TO TEACH LESSONS RELATED TO WATER, SANITATION AND HYGIENE. THE PRIMARY GOALS OF THIS PROGRAM ARE TO BUILD AND PROVIDE ACCESS TO QUALITY TOILETS, POTABLE WATER AND HAND WASHING STATIONS IN CONJUNCTION WITH POP SCHOOLS LACKING SUCH INFRASTRUCTURE. ADDITIONALLY, WE AIM TO INCREASE PROPER HYGIENIC AND SANITARY BEHAVIOR IN PRIMARY STUDENTS. 809089 174674 THE ORGANIZATION ALSO OPERATED A GLOBAL COMMUNITIES AND SCHOLARSHIP PROGRAM IN 2016. 809089 174674 6776297 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 52 1 0 1 GH LA GT 0 0 0 1 1 0 0 0 0 X 11 11 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AK AZ AR CA CT DC GA HI IL KS KY LA ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OR PA RI SC TN UT VA WA WV WI CO FL OK X X X TOM CASAZZONE 2127773170 37 WEST 28TH STREET 3RD FLOOR NEW YORK NY 10001 KAREN HARRIS CHAIR 5.00 X X 0 0 0 MICHAEL WEISS TREASURER 2.00 X X 0 0 0 ROBERT HAMWEE SECRETARY 1.00 X X 0 0 0 BRAD HAUGEN DIRECTOR 1.00 X 0 0 0 RICHARD LENT DIRECTOR (THROUGH 05/16) 1.00 X 0 0 0 HOPE TAITZ DIRECTOR (THROUGH 02/16) 1.00 X 0 0 0 DAN CAHILL DIRECTOR (THROUGH 02/16) 1.00 X 0 0 0 MEIGHAN STONE DIRECTOR 1.00 X 0 0 0 GARY VAYNERCHUK DIRECTOR 1.00 X 0 0 0 CRAIG EFFRON DIRECTOR 1.00 X 0 0 0 LINDA RIEFLER DIRECTOR 1.00 X 0 0 0 RICHARD HEARN DIRECTOR 1.00 X 0 0 0 DOUGLAS KUBACH DIRECTOR 1.00 X 0 0 0 SARAH O'HAGAN DIRECTOR 1.00 X 0 0 0 TOM CASAZZONE COO 60.00 X 113834 0 25615 MICHAEL DOUGHERTY CEO 60.00 X 273110 0 28583 SUSAN TYPHER HEAD OF STRATEGIC RELATIONSHIPS 60.00 X 106996 0 10407 493940 0 64605 3 0 1 0 GC BALLROOM OPERATOR LLC 55 WALL STREET NEW YORK NY 10005 EVENT SPACE RENTAL, A/V & CATERING 247187 CECILIA MERCEDES GUERRA 0 CALLED -54 ZONA 1 PANAJACHEL SOLOLA GT CONSTRUCTION 158301 JOHN MORK UNAVAILABLE HO GH CONSTRUCTION 147171 RAMS HORN ENTERPRISE PO BOX HP 821 HO GH CONSTRUCTION 139183 AETNA 151 FARMINGTON AVE HARTFORD CT 06156 HEALTH CARE 135142 8 1320842 7531972 3084 8852814 408 408 259580 1320842 450006 -190426 -190426 7576 18613 -11037 -11037 8651759 0 0 -201055 99434 99434 174674 174674 441142 300925 45774 94443 2498254 1704182 259226 534846 34196 23327 3548 7321 181581 123866 18841 38874 201417 137396 20900 43121 85534 85534 35319 35319 28650 28650 25276 8826 16450 122543 84284 38259 313087 131251 70201 111635 6260 4695 1565 277703 236009 18531 23163 514812 474179 9329 31304 55711 49193 2688 3830 106165 95009 5578 5578 34937 34937 SCHOOL CONSTRUCTION AND 2627080 2627080 PROGRAM MATERIALS 150085 150085 OUTREACH 119057 4749 114308 SCHOOL SUSTAINABILITY C 102489 102489 168211 159110 3869 5232 8403617 6776297 573841 1053479 2281823 2706963 51097 51102 2197457 1821078 5000 4194 37970 47601 962565 664088 318018 298477 30000 30000 4921365 4959415 74838 123899 50000 100000 124838 223899 X 3312590 2886235 1483937 1849281 4796527 4735516 4921365 4959415 X 248142 -309153 X X 0 1 X 1 0 X 5039120 4176449 7712838 7904617 8852814 33685838 5039120 4176449 7712838 7904617 8852814 33685838 1514200 32171638 9183 1037 568 580 408 11776 40 40 33697654 29069 0.95470 0.93940 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2012 AMOUNT: $ 40. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 576196 295414 280782 386369 368674 17695 298477 X 8670372 18613 18613 8651759 0 8651759 8509766 106149 106149 8403617 0 8403617 PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF TAX POSITIONS WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON PART VIII, LINE 10B 18,613. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON PART VIII, LINE 10B 18,613. RECLASS OF BAD DEBT EXPENSE TO PART XI, LINE 9 87,536. 1 SUB-SAHARAN AFRICA 2 26 PROGRAM SERVICES SCHOOL CONSTRUCTION, TEACHER TRAINING, W.A.S.H. 1919392 EAST ASIA AND THE PACIFIC 1 36 PROGRAM SERVICES SCHOOL CONSTRUCTION, TEACHER TRAINING, W.A.S.H. 803288 CENTRAL AMERICA AND THE CARIBBEAN 3 45 PROGRAM SERVICES SCHOOL CONSTRUCTION, TEACHER TRAINING, W.A.S.H. 1901265 NORTH AMERICA GRANT TO RECIPENT LOCATED IN REGION 18518 SUB-SAHARAN AFRICA GRANT TO RECIPENT LOCATED IN REGION 30290 EAST ASIA AND THE PACIFIC GRANT TO RECIPENT LOCATED IN REGION 103730 CENTRAL AMERICA AND THE CARIBBEAN GRANT TO RECIPENT LOCATED IN REGION 22136 6 107 0 0 6 107 4798619 0 4798619 NORTH AMERICA TO SUPPORT EXISTING SCHOOLS IN NICARAGUA 18518 WIRE TRANSFER 0 1 0 SCHOLARSHIP SUB-SAHARAN AFRICA 168 30290 DIRECT PAYMENTS TO THE SCHOOLS THE STUDENTS ARE ATTENDING 0 SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 488 103730 DIRECT PAYMENTS TO THE SCHOOLS THE STUDENTS ARE ATTENDING 0 SCHOLARSHIP EAST ASIA AND THE PACIFIC 1529 22136 DIRECT PAYMENTS TO THE SCHOOLS THE STUDENTS ARE ATTENDING 0 0 0 0 0 0 0 PART I, LINE 2: ALL GRANTS AND ASSISTANCE ISSUED TO PARTNERING ORGANIZATIONS UNDERGO THE SAME SCRUTINY AS IF OUR ORGANIZATION CARRIED OUT THE SERVICE DIRECTLY. WE ENSURE THAT THE PARTNER ORGANIZATION'S MISSION ALIGNS WITH OUR ORGANIZATION'S MISSION AND THAT THE SERVICES PROVIDED WILL BE PROVIDED EFFICIENTLY AND WITH THE MOST IMPACT. ONCE THE FUNDS ARE ISSUED TO THE ORGANIZATION, THE GRANT UNDERGOES QUARTERLY REPORTING WHERE THE GRANTEE ISSUES BOTH QUANTITATIVE AND QUALITATIVE REPORTS TO OUR ORGANIZATION IN ORDER TO ACCURATELY MONITOR AND MEASURE THE IMPACT THAT OUR FUNDS ARE HAVING IN THE REGIONS WE WORK IN. PART I, LINE 3: THE ORGANIZATION USES THE ACCRUAL METHOD TO ACCOUNT FOR EXPENDITURES. GALA 1547642 1320842 226800 100190 186997 154892 SPRING EVENT 32780 32780 6798 221 908 1580422 1320842 259580 106988 187218 155800 450006 -190426 1 WORLDREADER 2030 1ST AVENUE SUITE 300 SEATTLE WA 98121 272092468 501(C)(3) 51434 0 E-READERS FOR TEACHERS AND STUDENTS RUMIE INITIATIVE INC 51 LOUISIANA AVE NW WASHINGTON DC 20001 463918665 501(C)(3) 48000 0 E-READERS FOR TEACHERS AND STUDENTS 2 0 PART I, LINE 2: ALL GRANTS AND ASSISTANCE ISSUED TO PARTNERING ORGANIZATIONS UNDERGO THE SAME SCRUTINY AS IF OUR ORGANIZATION CARRIED OUT THE SERVICE DIRECTLY. WE ENSURE THAT THE PARTNER ORGANIZATION'S MISSION ALIGNS WITH OUR ORGANIZATION'S MISSION AND THAT THE SERVICES PROVIDED WILL BE PROVIDED EFFICIENTLY AND WITH THE MOST IMPACT. ONCE THE FUNDS ARE ISSUED TO THE ORGANIZATION, THE GRANT UNDERGOES QUARTERLY REPORTING WHERE THE GRANTEE ISSUES BOTH QUANTITATIVE AND QUALITATIVE REPORTS TO OUR ORGANIZATION IN ORDER TO ACCURATELY MONITOR AND MEASURE THE IMPACT THAT OUR FUNDS ARE HAVING IN THE REGIONS WE WORK IN. X X X X X 0 0 0 0 0 0 0 0 0 MICHAEL DOUGHERTY CEO 272231 0 0 0 879 0 5250 0 23333 0 301693 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 TWO BOARD MEMBERS LISTED IN PART VII HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS CONTRACTED WITH ADP TOTALSOURCE, INC. A PROFESSIONAL EMPLOYER ORGANIZATION TO PROVIDE PAYROLL AND HUMAN RESOURCES SERVICES. THE OFFICERS AND HIGHEST COMPENSATED EMPLOYEES LISTED IN PART VII RECEIVED A W-2 FROM TOTAL SOURCE. TOTAL SOURCE WAS PAID $85,534 FOR ITS SERVICES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF DIRECTORS. POP'S CHIEF OPERATING OFFICER, IN COLLABORATION WITH THE FINANCE & GOVERNANCE COMMITTEE, IS TASKED WITH OVERSEEING THE AUDIT PROCESS AND THE DRAFTING OF FORM 990 IN CONJUNCTION WITH AN INDEPENDENT ACCOUNTING FIRM. ALL MEMBERS OF THE COMMITTEE, THE CHIEF EXECUTIVE OFFICER, AND OTHER KEY EMPLOYEES OF THE ORGANIZATION ARE PROVIDED WITH A DRAFT OF THE AUDITED FINANCIAL STATEMENTS AND FORM 990 FOR REVIEW, COMMENT AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY APPLIES TO ALL EMPLOYEES, BOARD MEMBERS AND OFFICERS OF THE ORGANIZATION. EACH PERSON IS ASKED TO READ THE POLICY (INCLUDED SEPARATELY AS A POLICY OR WITHIN THE ORGANIZATION'S EMPLOYEE HANDBOOK) EACH YEAR AND SIGN AN AFFIRMATION STATEMENT REGARDING THE POLICY. SHOULD A CONFLICT ARISE, THEY ARE BROUGHT TO THE ATTENTION OF THE CHIEF OPERATING OFFICER (WHEN AN EMPLOYEE IS INVOLVED) AND THE SECRETARY OF THE BOARD OF DIRECTORS (WHEN A BOARD MEMBER OR OFFICER IS INVOLVED) AND BOTH ARE DISCUSSED AT THE BOARD LEVEL TO DECIDE THE PROPER COURSE OF ACTION. THERE ARE QUARTERLY CONFLICTS CHECKS ADMINISTERED BY THE COO TO EMPLOYEES AND BY THE CHAIRMAN OF THE BOARD TO BOARD MEMBERS. AT THE START OF EACH BOARD MEETING, THE CHAIR ASKS IF THERE ARE ANY CONFLICTS. IF THERE ARE, THE MEMBER RAISES THE CONFLICT AND A DISCUSSION ENSUES REGARDING WHETHER OR NOT IT RISES TO THE LEVEL OF A CONFLICT THAT THE ORGANIZATION SHOULD NOT PURSUE. A FINAL DECISION IS MADE BY MEMBERS OF THE BOARD PRESENT, EXCLUDING THE CONFLICTED BOARD MEMBER. THE BOARD HAS AN ATTORNEY ON RETAINER WHO THEY CONSULT WITH IF NEEDED. SIMILAR DISCLOSURES AND PROCEDURES ARE USED FOR EMPLOYEES WITH POTENTIAL CONFLICTS AND THAT IS ADMINISTERED BY THE COO, WITH COUNSEL FROM THE BOARD CHAIR IF NEEDED. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS INCLUDES ALL OF THESE ELEMENTS: (1) REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS, COMPENSATION COMMITTEE OR EXECUTIVE COMMITTEE OF POP; (2) USE OF DATA AS TO COMPARABLE COMPENSATION; AND (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THIS POLICY APPLIES TO DETERMINE THE COMPENSATION OF OUR CHIEF EXECUTIVE OFFICER AND FOUNDER. IN 2015, THE ORGANIZATION ALSO ENGAGED AN OUTSIDE COMPENSATION CONSULTANT WHO WAS HIRED TO DO A FULL STUDY ON EXECUTIVE COMPENSATION. WE RELIED ON DATA PROVIDED BY THE 2015 CONSULTANT TO DETERMINE SALARIES FOR 2016. REVIEW AND APPROVAL - THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS, COMPENSATION COMMITTEE OR EXECUTIVE COMMITTEE OF POP, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. USE OF DATA AS TO COMPARABLE COMPENSATION - THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING - THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. THE COO'S COMPENSATION IS DETERMINED IN A SIMILAR FASHION. HOWEVER, THE CEO CONTROLS THE FINAL DECISION OF THE COO'S COMPENSATION AND THE BOARD DECIDES WHETHER TO SUPPORT THE CEO'S RECOMMENDATION. FORM 990, PART VI, SECTION C, LINE 19 ALL OF OUR ANNUAL FINANCIAL STATEMENTS AND FORM 990 ARE MADE AVAILABLE TO THE PUBLIC ON OUR WEBSITE. FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, FORM 990 AND FORM 1023 ARE MADE AVAILABLE FOR PUBLIC VIEWING UPON WRITTEN REQUEST AT PENCILS OF PROMISE INCORPORATED'S HEADQUARTERS LOCATED AT 37 WEST 28TH STREET, 3RD FLOOR, NEW YORK, NY 10001. FORM 990 IS AVAILABLE ON WWW.GUIDESTAR.ORG, WWW.CHARITYNAVIGATOR.ORG,AND WWW.ERI-NONPROFIT-SALARIES.COM. THE FORM 990 AND ANNUAL FINANCIAL STATEMENT IS AVAILABLE ON WWW.CHARITIESNYS.COM. FORM 990, PART XI, LINE 9: LOSS ON FOREIGN CURRENCY EXCHANGE -99,255. LOSS FOR UNCOLLECTIBLE PLEDGES RECEIVABLE -122,362. BAD DEBT EXPENSE -87,536. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.