2014-11-10T12:29:00-06:00 2014-06-30 133516375 N CHENG & CO PC 40 EXCHANGE PLACE NEW YORK NY 10005 990 2013-07-01 132613383 PREP FOR PREP PREP 2125791390 328 WEST 71ST STREET NEW YORK NY 100233502 AILEEN HEFFERREN CHIEF EXECUTIVE 2125791390 2014-11-10 1 GERMAN RODRIGUEZ P00367209 2127850100 2014-11-10 2013 2015-11-30 17:44:51Z AILEEN HEFFERREN 328 WEST 71ST NEW YORK NY 10023 NEW YORK NY 10023 10914399 0 X WWW.PREPFORPREP.ORG X NOT FOR PROFIT 1968 NY PREP FOR PREP DEVELOPS LEADERS THROUGH ACCESS TO SUPERIOR EDUCATION AND LIFE CHANGING OPPORTUNITIES. 58 58 293 305 0 0 11307871 9009443 0 0 260732 1605256 95 24347 11568698 10639046 0 0 0 0 6482469 6910307 0 0 958526 3737495 3760308 10219964 10670615 1348734 -31569 40848901 45423050 1754151 1730022 39094750 43693028 X PREP FOR PREP IS A LONG-TERM INVESTMENT STRATEGY TO DEVELOP THE LEADERSHIP POTENTIAL OF ABLE YOUNG PEOPLE FROM SEGMENRS OF SOCIETY GROSSLY UNDER-REPRESENTED IN THE LEADERSHIP POOL FROM WHICH ALL OF OUR MAJOR INSTITUTIONS DRAW. BY EXPANDING THE NATION'S LEADERSHIP RESOURCES, WE AIM TO IMPACT INDIRECTLY ON A SET OF INTER-RELATED PROBLEMS THAT THREATEN TO REND OUR SOCIETY. 0 0 3166045 ACADEMIC PROGRAMS - 14-MONTH "ACADEMIC BOOT CAMPS" PREPARING APPROXIMATELY 200 STUDENTS FOR 7TH GRADE PLACEMENT IN INDEPENDENT DAY SCHOOLS IN NEW YORK CITY OR 9TH GRADE PLACEMENT IN NORTHEASTERN BOARDING SCHOOLS. 1965115 COUNSELING - INDIVIDUAL COUNSELING FOR APPROXIMATELY 800 STUDENTS THROUGH THEIR YEARS IN INDEPENDENT SCHOOL TO MONITOR THEIR ACADEMIC AND SOCIAL PROGRESS AND TO PROVIDE HELP AND SUPPORT AS NEEDED.SOCIAL AND CULTURAL ACTIVITIES DURING SCHOOL HOLIDAYS AND ON WEEKENDS EASE THE SOCIAL TRANSITION AND BUILD A SENSE OF COMMUNITY. SERVICES AND SUPPORT ARE MADE AVAILABLE TO APPROXIMATELY 800 UNDERGRADUATES AS WELL. 1998086 LEADERSHIP DEVELOPMENT OPPORTUNITIES FOR APPROXIMATELY 1,000 OF PREP'S HIGH SCHOOL AND COLLEGE STUDENTS -LEADERSHIP RETREATS, COLLEGE GUIDANCE, SUMMER INTERNSHIPS, TRAVEL ABROAD EXPERIENCES, AND OTHER OPPORTUNITIES THAT BROADEN STUDENTS' ASPIRATIONS, INCREASE THEIR SENSE OF LIFE'S POSSIBILITIES, AND BUILD A STRONGER SENSE OF SELF; OPPORTUNITIES, EVENTS, AND NETWORKING FOR PREP'S APPROXIMATELY 3,000 UNDERGRADUATE AND COLLEGE GRADUATE ALUMNI, ENCOURAGING THEIR ON-GOING INVOLVEMENT WITH AND SUPPORT OF THE PROGRAM. 1775321 TALENT SEARCH - IDENTIFYING AND SELECTING 200 STUDENTS FOR PARTICIPATION IN THE PROGRAM - FROM AMONG 7000 NOMINATED - THROUGH AN EXTENSIVE ADMISSIONS PROCESS; SMART CONNECTIONS - SHARING PREP'S MODEL AND EXPERIENCE WITH 120 ORGANIZATIONS AND SOCIAL ENTREPRENEURS, INCLUDING A PREP-HOSTED CONFERENCE. 1775321 8904567 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 61 0 1 293 1 0 1 BD CJ 0 0 0 1 1 0 0 X 58 58 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 NY X ALIK HINCKSON 2125791390 328 WEST 71ST STREET NEW YORK NY 100233502 PAULA KARSTENS MAHONEY TRUSTEE 0.00 X 0 0 0 ERICH MAUFF TRUSTEE 0.00 X 0 0 0 HAROLD MCGRAW III TRUSTEE 0.00 X 0 0 0 JULIE MONACO TRUSTEE 0.00 X 0 0 0 JONATHAN MOSES TRUSTEE 0.00 X 0 0 0 SUSAN M NEUMANN TRUSTEE 0.00 X 0 0 0 JEANNEMARIE O' BRIEN TRUSTEE 0.00 X 0 0 0 GLORIMAR O' HARA TRUSTEE 0.00 X 0 0 0 SANDY OSBORNE TRUSTEE 0.00 X 0 0 0 BARBARA PAGE TRUSTEE 0.00 X 0 0 0 LISSA PERLMAN TRUSTEE 0.00 X 0 0 0 LLOYD PLENTY TRUSTEE 0.00 X 0 0 0 RICHARD REISS JR TRUSTEE 0.00 X 0 0 0 WILLIAMS A SHUTZER TRUSTEE 0.00 X 0 0 0 NANCY VON AUERSPERG TRUSTEE 0.00 X 0 0 0 ANDREW M WALLACH TRUSTEE 0.00 X 0 0 0 ANITA VOLZ WIEN TRUSTEE 0.00 X 0 0 0 BRIAN C WILLE TRUSTEE 0.00 X 0 0 0 HERBERT A ALLEN III TRUSTEE 0.00 X 0 0 0 JOHN ALLMAN TRUSTEE EX OFFICIO 0.00 X 0 0 0 COURTNEY ARCHER BUCKMIRE TRUSTEE 0.00 X 0 0 0 NICOLE ARNABOLDI TRUSTEE 0.00 X 0 0 0 ORLANDO D ASHFORD TRUSTEE 0.00 X 0 0 0 CONOR BASTABLE TRUSTEE 0.00 X 0 0 0 ANSON H BEARD TRUSTEE 0.00 X 0 0 0 RONALD E BLAYLOCK TRUSTEE 0.00 X 0 0 0 UNIQUE FRASER BRATHWAITE TRUSTEE 0.00 X 0 0 0 JERRY BRIGHT TRUSTEE 0.00 X 0 0 0 CAROLYN S BRODY TRUSTEE 0.00 X 0 0 0 FRANK K BYNUM JR TRUSTEE 0.00 X 0 0 0 JORGE CALDERON TRUSTEE 0.00 X 0 0 0 DANIELLE DANESE TRUSTEE 0.00 X 0 0 0 ELIZABETH B DATER TRUSTEE 0.00 X 0 0 0 CARMINE DI SIBIO TRUSTEE 0.00 X 0 0 0 ALEXANDER R EDLICH TRUSTEE 0.00 X 0 0 0 PATRICIA FARMAN-FARMAIAN TRUSTEE 0.00 X 0 0 0 CARL D HARNICK TRUSTEE 0.00 X 0 0 0 DECLAN KELLY TRUSTEE 0.00 X 0 0 0 ROBIN J KEMPER TRUSTEE 0.00 X 0 0 0 JAY L KRIEGEL TRUSTEE 0.00 X 0 0 0 FRANCES G LASERSON TRUSTEE 0.00 X 0 0 0 LAURENCE C LEEDS JR TRUSTEE 0.00 X 0 0 0 DANIEL S LOEB TRUSTEE 0.00 X 0 0 0 FRANK J LOVERRO TRUSTEE 0.00 X 0 0 0 MARTIN LIPTON CHAIRMAN EMERITUS 0.00 X X 0 0 0 ARUN ALAGAPPAN TRUSTEE 0.00 X 0 0 0 JOHN VOGELSTEIN CHAIRMAN EMERITUS 0.00 X X 0 0 0 SCOTT L BOK CHAIRMAN 0.00 X X 0 0 0 LISA SMITH CASHIN PRESIDENT 0.00 X X 0 0 0 ANNE GILCHRIST HALL EXECUTIVE VICE PRESIDENT 0.00 X X 0 0 0 DANIEL MNIEDICH EXECUTIVE VICE PRESIDENT 0.00 X X 0 0 0 VALENTINO D CARLOTTI VICE PRESIDENT 0.00 X X 0 0 0 JAMES RMAHER VICE PRESIDENT 0.00 X X 0 0 0 DAVID A NADLER VICE PRESIDENT 0.00 X X 0 0 0 ERIC A ROTHFELD VICE PRESIDENT 0.00 X X 0 0 0 JOHN H HALL ESQ VICE PRESIDENT & SECRETARY 0.00 X X 0 0 0 JENNIFER J BURLEIGH VICE PRESIDENT & ASSISTANT SECRETARY 0.00 X X 0 0 0 PASCAL DESROCHES VICE PRESIDENT & TREASURER 0.00 X X 0 0 0 PETER BORDONARO DEPUTY EXEC. DIRECTOR 40.00 X 206710 0 48107 AILEEN HEFFERREN CHIEF EXECUTIVE 40.00 X 304007 0 59630 ED BOLAND VP EXTERNAL AFFAIRS 40.00 X 199788 0 28005 JONATHAN MILLS ADVISOR TO THE CHIEF EXECUTIVE 40.00 X 125142 0 22611 CHARLES GUERRERO DIR. LEADERSHIP DEV. OPP. 40.00 X 104892 0 24693 FRANCESCA RYAN DIR. DEVELOPMENT 40.00 X 109050 0 16350 MARIE URSINO DIR. OF COUNSELING 40.00 X 157112 0 26021 BRIDGET JOHNSON ASSOC. OF EXEC DIRECTOR 40.00 X 155171 0 9952 1361872 0 235369 8 0 1 0 L&M BUS CORP 3167 ATLANTIC AVENUE BROOKLYN NY 11208 STUDENT TRANSPORTATION 347520 ASCEND SECURE TECHNOLOGY 2254 HOMECREST AVENUE BROOKLYN NY 11229 TECHNOLOGY 171801 2 3193448 5815995 593549 9009443 1605256 1605256 275353 3193448 275353 0 OTHER REVENUE 900099 24347 24347 24347 10639046 1629603 0 0 861460 527237 99832 234391 4787539 4193754 277775 316010 262014 206003 16136 39875 582599 488365 36022 58212 416695 354940 25072 36683 31950 31950 104034 29182 13466 61386 468728 319584 20860 128284 257601 216123 10125 31353 677149 652147 12871 12131 111593 94687 5413 11493 83502 80818 428 2256 130859 111230 7852 11777 67019 67019 MISCELLANEOUS 479917 282541 182701 14675 OTHER 407739 407739 COUNSELING/CAMPUS VISIT 352716 352716 PUPIL TRANSPORTATION 294022 294022 293479 293479 10670615 8904567 807522 958526 1900 1713 3564621 2891750 2910635 3602623 410688 341610 6271195 3857664 2524976 2413531 18667852 21352430 12732551 14787470 35678 31923 40848901 45423050 492648 501980 1261503 1228042 1754151 1730022 X 35280062 40257548 2596441 2207233 1218247 1228247 39094750 43693028 40848901 45423050 -31569 4629847 0 X X 0 1 X 1 0 X 9604837 9604624 10934339 11307871 9009443 50461114 9604837 9604624 10934339 11307871 9009443 50461114 1600580 48860534 316656 190328 173561 260732 208118 1149395 51610509 1015465 0.94670 0.89720 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31395723 10000 6255103 -1500928 36139900 27728516 11000 3954223 -40619 -257397 31395723 27276587 1114181 -460161 -34226 -167865 27728516 23636611 530335 3272632 -28614 -134377 27276587 21201142 25486 2485395 -75412 23636611 0.96600 0.03400 0.00000 0 0 492750 492750 3619511 1777462 1842049 2158934 2080202 78732 2413531 ALTERNATIVE INVESTMENTS 14787470 F 14787470 X 15609493 4629847 340600 4970447 10639046 0 10639046 11011215 340600 340600 10670615 0 10670615 PART V, LINE 4: THE BOARD DESIGNATED ENDOWMENT IS DEFINED AS ALL FUNDS WHICH WOULD OTHERWISE BE UNRESTRICTED AS TO USE, BUT WHICH THE BOARD HAS DESIGNATED AS ENDOWMENT FUNDS. THIS CATEGORY OF ENDOWMENT FUNDS WAS ESTABLISHED TO SERVE AS A BUFFER IN TIMES OF GENERAL ECONOMIC DOWNTURN AND AS A MEANS TO ENSURE THAT THE FINANCIAL UNCERTAINTIES IMPLICIT IN NOT HAVING AN ASSURED REVENUE STREAM OR A TUITION BASE DO NOT RESULT IN PROGRAMMATIC DECISIONS DRIVEN BY THE VAGARIES OF ANNUAL FUNDRAISING. PART X, LINE 2: THE ORGANIZATION APPLIES THE PROVISION OF FASB ASC 740, INCOME TAXES. MANAGEMENT HAS CONSIDERED POSSIBLE AREAS OF UNCERTAIN TAX POSITIONS AND POSSIBLE AREAS OF RISK TO ITS TAX-EXEMPT STATUS. MANAGEMENT HAS CONCLUDED THAT THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS AND THAT ITS TAX EXEMPT STATUS WOULD SUSTAIN EXAMINATION. TAX YEARS OF 2010, 2011, 2012 REMAIN OPEN AND ARE SUBJECT TO EXAMINATION. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT N/A 13440599 0 0 0 0 0 0 13440599 0 13440599 0 0 0 0 0 0 LILAC BALL 3468801 3193448 275353 10000 245803 5850 13700 3468801 3193448 275353 10000 245803 5850 13700 275353 0 X X X X X 0 1 0 0 0 0 0 0 0 PETER BORDONARO DEPUTY EXEC. DIRECTOR 206710 0 0 0 0 48107 0 0 0 0 206710 48107 0 0 AILEEN HEFFERREN CHIEF EXECUTIVE 304007 0 0 0 0 59630 0 0 0 0 304007 59630 0 0 ED BOLAND VP EXTERNAL AFFAIRS 199788 0 0 0 0 28005 0 0 0 0 199788 28005 0 0 MARIE URSINO DIR. OF COUNSELING 157112 0 0 0 0 26021 0 0 0 0 157112 26021 0 0 BRIDGET JOHNSON ASSOC. OF EXEC DIRECTOR 155171 0 0 0 0 9952 0 0 0 0 155171 9952 0 0 PART I, LINE 4B AILEEN HEFFERREN; PAYMENTS TO 457B PLAN - $6,864 KATHRYN BORDONARO SPOUSE OF KEY EMPLOYEE 97267 EMPLOYMENT 0 SAMUEL J ZALUTSKY SPOUSE OF KEY EMPLOYEE 6000 INDEPENDENT CONTRACTOR ARRANGEMENT 0 MICHAEL BORDONARO SON OF KEY EMPLOYEE 3360 EMPLOYMENT 0 X 18 593549 FAIR MARKET VALUE 0 1 1 PART I, LINE 32B: GIFTS OF SHARES OF STOCK ARE RECEIVED ON PREP'S BEHALF BY MERRILL LYNCH AND ARE SOLD AS SOON AS PREP IS NOTIFIED OF RECEIPT. FORM 990, PART I, LINE 6 PREP STUDENTS AND ALUMNI VOLUNTEER IN THE PREP ADMISSIONS OFFICE, WORKING WITH PROSPECTIVE APPLICANTS AND THEIR PARENTS DURING THE RECRUITMENT AND APPLICATION PROCESS. PREP GRADS, OR STUDENTS WHO HAVE COMPLETED 8TH GRADE IN THEIR INDEPENDENT SCHOOLS, SERVE AS VOLUNTEERS DURING THE PREPARATORY COMPONENT SUMMER SESSION BY ASSISTING WITH ATTENDANCE, TELEPHONE CALLS, AND THE COLLECTION AND DISTRIBUTION OF LUNCHES, MAILINGS, BOOKS AND NOTICES. (APPROXIMATE TOTAL NUMBER OF VOLUNTEERS FOR ADMISSIONS AND PREPARATORY COMPONENT: 90.)PREP FOR PREP ALSO USES VOLUNTEERS IN ORDER TO FACILITATE ITS PROFESSIONAL ADVANCEMENT INITIATIVES, WHICH EXPOSE PREP HIGH SCHOOL STUDENTS AND UNDERGRADUATES TO A RANGE OF CAREER OPTIONS THEY MIGHT NOT OTHERWISE HAVE CONSIDERED. THESE INITIATIVES INCLUDE CAREER PATHS PLUS, SUMMER JOBS BANK, AND THE PREP FOR PREP INSTITUTE FOR ENTREPRENEURSHIP. VOLUNTEERS HELP PREPARE STUDENTS FOR SUMMER INTERNSHIPS BY CONDUCTING MOCK INTERVIEWS FOR HIGH SCHOOL STUDENTS. THROUGH THE INSTITUTE FOR ENTREPRENEURSHIP, VOLUNTEERS SERVE AS BUSINESS PLAN ADVISORS AND FINAL COMPETITION JUDGES. PREP ALSO USES VOLUNTEERS TO SERVE AS CAREER SEMINAR SERIES PANELISTS. (APPROXIMATE TOTAL NUMBER OF VOLUNTEERS FOR PROFESSIONAL ADVANCEMENT: 100.) BOARD AND ASSOCIATES COUNCIL MEMBERS VOLUNTEER THEIR TIME AND PROFESSIONAL EXPERIENCE TO ATTEND PANELS AND LEVERAGE THEIR CONTACTS. (TOTAL NUMBER OF BOARD AND ASSOCIATES COUNCIL MEMBERS: 75.) IN ADDITION, APPROXIMATELY 25 PREP ALUMNI VOLUNTEER THEIR TIME TO HELP RUN PREP'S ANNUAL GIVING CAMPAIGN. FORM 990, PART VI, SECTION A, LINE 2 KATHRYN BORDONARO - SPOUSE OF KEY EMPLOYEE; SAMUEL J. ZALUTSKY- SPOUSE OF KEY EMPLOYEE MICHAEL BORDONARO - SON OF KEY EMPLOYEE TWO PAIRS OF TRUSTEES ARE FAMILY RELATED FOUR TRUSTEES HAVE A SHARED OWNERSHIP INTEREST; TWO PAIRS OF TRUSTEES AND 3 OTHER TRUSTEES ARE EMPLOYED BY THE SAME ORGANIZATIONS. FORM 990, PART VI, SECTION B, LINE 11 BEFORE FILING, THE 990 IS REVIEWED BY THE TREASURER AND APPROVED BY THE FINANCE COMMITTEE, DISCUSSED WITH THE EXECUTIVE COMMITTEE AND DISTTRIBUTED TO ALL BOARD MEMBERS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C IN DISCHARGING ITS OVERSIGHT RESPONSIBILITIES, THE FINANCE COMMITTEE IS EMPOWERED TO INVESTIGATE ANY MATTER BROUGHT TO ITS ATTENTION WITH FULL ACCESS TO ALL BOOKS, RECORDS, FACILITIES AND PERSONNEL OF PREP. IN KEEPING WITH ITS CHARTER, THE FINANCE COMMITTEE ANNUALLY REVIEWS AND DISCUSSES WITH MANAGEMENT AND THE INDEPENDENT AUDITORS THE ADEQUACY AND EFFECTIVENESS OF PREP'S LEGAL, REGULATORY AND ETHICS COMPLIANCE PROGRAMS, INCLUDING PREP'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE STAFF RECRUITMENT AND COMPENSATION COMMITTEE OF THE BOARD ASSISTS THE EXECUTIVE COMMITTEE OF THE BOARD IN DETERMINING COMPENSATION OF SENIOR MANAGEMENT. COMMITTEE MEMBERS ARE INDEPENDENT AND RECEIVE NO COMPENSATION FOR THEIR SERVICE ON THE COMMITTEE. THE COMMITTEE REVIEWS THE COMPENSATION OF THE CHIEF EXECUTIVE AND KEY EMPLOYEES EACH YEAR AND RECOMMENDS CHANGES OR ADJUSTMENTS TO THE EXECUTIVE COMMITTEE. REVIEW INCLUDES PERIODIC USE OF COMPARABILITY DATA AND RETENTION OF OUTSIDE EXPERTS AND OTHER ADVISORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL REPORTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: PREP FOR PREP HAS NOT CHANGE THE PROCESS IN WHICH THE FORM 990 IS REVIEW WHEN COMPARING 2012 TO 2013 FORM.