2016-03-15T00:00:00-05:00 2015-08-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2014-09-01 237173492 A BETTER CHANCE INC ABET 6463461310 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 SANDRA E TIMMONS PRESIDENT 6463461310 2016-03-16 1 ROBERT LYONS CPA P00227472 2125038800 2014 2016-08-17 19:52:53Z SANDRA E TIMMONS 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 4422683 0 X WWW.ABETTERCHANCE.ORG X 1971 MA A BETTER CHANCE HAS BEEN OPENING THE DOOR TO GREATER EDUCATIONAL OPPORTUNITIES SINCE 1963.A BETTER CHANCE IS THE OLDEST AND ONLY NATIONAL ORGANIZATION OF ITS KIND CHANGING THE LIFE TRAJECTORY FOR ACADEMICALLY TALENTED YOUTH OF COLOR VIA ACCESS TO RIGOROUS AND PRESTIGIOUS EDUCATIONAL OPPORTUNITIES FOR STUDENTS IN GRADES 6-12. OUR MISSION IS TO INCREASE SUBSTANTIALLY THE NUMBER OF WELL-EDUCATED YOUNG PEOPLE OF COLOR WHO ARE CAPABLE OF ASSUMING POSITIONS OF RESPONSIBILITY AND LEADERSHIP IN AMERICAN SOCIETY. WE CARRY OUT OUR MISSION THROUGH OUR SIGNATURE COLLEGE PREPARATORY SCHOOLS PROGRAM ("CPSP"), WHICH ANNUALLY RECRUITS, REFERS AND SUPPORTS ABOUT 500 SCHOLARS AT MORE THAN 300 MEMBER SCHOOLS IN 27 STATES. 13 12 42 412 0 0 4179989 2011204 263715 214055 751614 627428 6281 6537 5201599 2859224 74900 41488 0 0 2078811 2158826 56392 50290 938604 1991881 1850979 4201984 4101583 999615 -1242359 17447547 15772743 2094617 2649595 15352930 13123148 TO INCREASE SUBSTANTIALLY THE NUMBER OF WELL-EDUCATED YOUNG PEOPLE OF COLOR WHO ARE CAPABLE OF ASSUMING POSITIONS OF RESPONSIBILITY AND LEADERSHIP IN AMERICAN SOCIETY. 0 0 2739327 41488 214055 IN FISCAL YEAR 2015, A BETTER CHANCE RECEIVED 1996 APPLICATIONS, 597 ACCEPTANCES, AND 444 PLACEMENTS. THE ORGANIZATION INTERVIEWED 892 CANDIDATES AND HOSTED 6 SCHOOL FAIRS IN LOS ANGELES, OAKLAND, ATLANTA, PHILADELPHIA, WASHINGTON DC, AND NEW YORK AT WHICH OVER 800 STUDENTS AND 100 MEMBER SCHOOLS PARTICIPATED. OUR APPLICANTS RECEIVED FEE WAIVERS VALUED AT MORE THAN $119,000. THE ORGANIZATION ALSO LED MORE THAN 15 REFERRAL NIGHTS, FINISHING STRONG, AND FINANCIAL AID WORKSHOPS WHICH ARE USED TO HELP APPLICANTS AND FAMILIES NAVIGATE AND UNDERSTAND THE PROCESS BETTER. 2739327 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 22 0 42 1 0 0 0 0 0 1 1 0 0 0 0 X 13 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AK AL AR AZ CA CO CT DC FL GA IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN VA WA WI WV HI X MELISSA STEVE 6463461325 253 W 35TH STREET 6TH FLOOR NEW YORK NY 10001 MS SANDRA E TIMMONS PRESIDENT 37.50 X X 232734 0 17932 MR RONALD R PRESSMAN CHAIRPERSON 2.00 X X 0 0 0 MR ARTURO SIDA DIRECTOR 2.00 X 0 0 0 MR PETER ALLAN ATKINS DIRECTOR 2.00 X 0 0 0 MS RHONDA TROTTER DIRECTOR 2.00 X 0 0 0 MS CARLA A HARRIS DIRECTOR 2.00 X 0 0 0 MR KURT VAN WAGENEN DIRECTOR 2.00 X 0 0 0 MR A LOUIS PARKER DIRECTOR 2.00 X 0 0 0 MS SUSAN CHAPMAN DIRECTOR 2.00 X 0 0 0 MR GREGORY T DURANT DIRECTOR 2.00 X 0 0 0 MS ELLANOR BRIZENDINE DIRECTOR 2.00 X 0 0 0 MR DMITRI STOCKTON DIRECTOR 2.00 X 0 0 0 MS JILLIAN E JOSEPH DIRECTOR 2.00 X 0 0 0 MS TAHIRA WEST DIR. OF FINANCE & ADMIN 37.50 X 99153 0 8724 MS NICOLE BOUKNIGHT-JOHNSON DIRECTOR OF DEVELOPMENT 37.50 X 125556 0 12499 457443 0 39155 2 0 1 0 COMMUNITY COUNSELING SERVICE CO LLC PO BOX 824885 PHILADELPHIA PA 19182 135000 1 794302 1216902 110077 2011204 SCHOOL MEMBERSHIP DUES 611600 140025 140025 REGISTRATION FEES 900099 74030 74030 214055 261975 261975 6537 6537 1851265 1485812 365453 365453 365453 77647 794302 77647 0 2859224 214055 0 633965 X 41488 41488 615059 285848 137916 191295 1217837 1010151 24475 183211 56775 43178 3390 10207 111897 88400 5475 18022 157258 112707 13288 31263 11700 11700 34001 34001 50290 50290 77907 77907 463095 210191 252904 147599 55106 20384 72109 346971 252098 32586 62287 538438 504765 12759 20914 36757 16302 15989 4466 18708 17014 539 1155 29155 14980 9997 4178 EQUIPMENT PURCHASES 57009 38128 6363 12518 SUBSCRIPTION AND DUES 37016 14126 2736 20154 MISCELLANEOUS 32482 19793 12318 371 STAFF TRAINING AND DEV. 11457 9413 1273 771 8684 5639 556 2489 4101583 2739327 423652 938604 37585 15958 2841783 2382429 31568 45258 107930 35810 80861 72120 13337394 12215884 1118356 1041094 17447547 15772743 265690 226201 179927 199394 1649000 2224000 2094617 2649595 X -1981470 -2581097 5126088 3570695 12208312 12133550 15352930 13123148 17447547 15772743 X -1242359 -910161 -77262 X X 0 1 X 1 0 X 2589493 2174235 5408780 4179989 2011204 16363701 2589493 2174235 5408780 4179989 2011204 16363701 1034068 15329633 287290 280528 306283 284110 268512 1426723 1102 1102 17791526 2124541 0.86160 0.87330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 12754575 2500 -534628 600000 11622447 13112925 7500 213150 579000 12754575 13092291 200000 662086 841452 13112925 12618108 379519 761935 667271 13092291 11773455 916587 71934 12618108 0.00650 0.95440 0.03910 1 0 48525 24097 24428 59405 11713 47692 72120 BENEFICIAL INTEREST IN PERPETUAL TRUST 1041094 1041094 X 1977487 -910161 183593 -77262 -803830 2781317 77907 77907 2859224 4207269 183593 183593 4023676 77907 77907 4101583 PART V, LINE 4: THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE FOR OPERATIONAL PURPOSES. PART X, LINE 2: THE ORGANIZATION BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS AS OF AUGUST 31, 2015 AND 2014, IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. THE ORGANIZATION BELIEVES THAT IT IS NO LONGER SUBJECT TO FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS ENDED BEFORE AUGUST 31, 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -77,262. X X X X X 1 STETWIN CONSULTING 355 LEXINGTON AVENUE 15TH FLOOR NEW YORK NY 10017 ANNUAL AWARDS EVENT 0 871949 42289 871949 871949 42289 871949 AK AL AR AZ CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV GALA 871949 794302 77647 77647 871949 794302 77647 77647 77647 0 1 SCHOLARSHIP AWARDS AND RESIDENTIAL ASSISTANCE 76 41488 N/A N/A PART I, LINE 2: FOR ALL SAFETY NET AWARDS, WE ISSUE CHECKS DIRECTLY TO THE ORGANIZATION OR SCHOOL SPONSORING THE PROGRAM, SUCH AS A STUDY-ABROAD PROGRAM OR SCHOOL TRIP. FOR ALL SCHOLARSHIP AWARDS GIVEN DIRECTLY TO THE STUDENTS (SUCH AS A BETTER CHANCE AWARDS GIVEN AT THE ANNUAL LUNCHEON), 1099'S ARE ISSUED TO ANYONE RECEIVING MORE THAN A TOTAL OF $600. X 0 0 0 0 0 0 0 0 0 MS SANDRA E TIMMONS PRESIDENT 207734 0 25000 0 0 0 11008 0 6924 0 250666 0 0 0 X 1 110077 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WILL BE REVIEWED BY MANAGEMENT AND THEN BE SENT TO MEMBERS OF THE FINANCE COMMITTEE. THE FINANCE COMMITTEE WILL BE GIVEN A MINIMUM OF ONE WEEK TO REVIEW AND COMMENT ON THE FORM 990. THE RETURN WILL BE SENT TO ALL BOARD MEMBERS. BOARD MEMBERS WILL BE GIVEN A MINIMUM OF ONE WEEK TO REVIEW AND COMMENT BEFORE THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY FORM IS REQUIRED TO BE SIGNED EVERY YEAR BY THE BOARD AND SENIOR MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE ANNUAL PERFORMANCE REVIEW IS AN IMPORTANT PART OF THE EMPLOYEE DEVELOPMENT PROCESS. IT SERVES THE FOLLOWING PURPOSES: TO ALIGN SUPERVISOR AND EMPLOYEE EXPECTATIONS TO ASSESS PERFORMANCE AGAINST MUTUALLY AGREED-UPON GOALS AND OBJECTIVES TO ESTABLISH AN ACTION PLAN THAT WILL ALLOW FOR PROFESSIONAL DEVELOPMENT ALL FULL-TIME EMPLOYEES CURRENTLY ON THE A BETTER CHANCE STAFF WHO HAVE COMPLETED AT LEAST THREE FULL MONTHS OF EMPLOYMENT ARE REVIEWED ANNUALLY AT THE END OF THE FISCAL YEAR TO ASSESS THE WORK PERFOMANCE DURING THAT YEAR. THE BOARD OF DIRECTORS REVIEW AND APPROVE THE COMPENSATION TO THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 210,191. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 252,904. TOTAL EXPENSES 463,095. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -77,262. FORM 990, PART XI LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT HAS NOT BEEN CHANGED FROM THE PRIOR YEAR.