2014-03-05T18:18:31-06:00 2013-06-30 GRANT THORNTON LLP 175 W JACKSON BLVD STE 2000 CHICAGO IL 60604 990 2012-07-01 830399727 New Schools for Chicago % MS CORDELIA C MEYER NEWS 3128531212 21 S Clark Street Suite 4301 Chicago IL 60603 PHYLLIS LOCKETT 3128531212 2014-03-05 true Bridget T Roche 3128560200 2012 2015-11-30 17:44:51Z Phyllis Lockett 21 S Clark St STE 4301 Chicago IL 60603 9185655 false X www.newschoolsnow.org X 2004 IL The Civic Committee of the Commercial Club of Chicago established New Schools for Chicago in June 2004 to support the Renaissance 2010 initiative announced by the Chicago public schools. 25 23 10 23 0 5064319 2434205 10620 14140 28769 74602 720 20 5104428 2522967 1354682 1718363 0 0 908989 1046727 0 0 308880 2695689 2106770 4959360 4871860 145068 -2348893 10500819 7975414 288033 140696 10212786 7834718 New Schools for Chicago ("NSC") is a venture philanthropy organization that invests in the start-up of autonomous Chicago public schools. NSC was established by Chicago's business and civic leadership to support renaissance 2010, former Mayor Daley's initiative to create 100 new public schools in the city of Chicago's most challenged communities. false false 1264792 0 0 Increased commitments to a total of more than $90 million for the NSC initiative, of which more than $67 million was raised by NSC. 1718363 1718363 0 Supported national education organizations, charter school operators, and leading private and parochial institutions to open 79 new NSC schools in Chicago's underserved communities. Increased awards to more than $40 million to support the start-up of quality new public schools in Chicago and build the environment for choice and competition. 643374 0 14140 Hosted the Sixth New Schools EXPO for 4,000 parents, students and community members to learn about and apply to new public schools. 3626529 true true false true false false false false false false true false false false true true true false false false false false false false false false false true false true false false false false false false false false true false false false false false false false false true 35 0 true 10 true false false false false false false false false false false X 25 23 false false false false false false false true true false false true true true true true true true true false IL X MS CORDELIA C MEYER 3128531200 21 S CLARK STREET SUITE 4301 Chicago IL 60603 X Donald Lubin 1.0 X 0 0 0 Harrison I Steans 1.0 X X 0 0 0 Lula M Ford 1.0 X 0 0 0 Sandra P Guthman 1.0 X 0 0 0 Leo Melamed 1.0 X 0 0 0 John W Madigan 1.0 X 0 0 0 Terry Mazany 1.0 X 0 0 0 Andrew J McKenna 1.0 X 0 0 0 William A Osborn 1.0 X 0 0 0 Deborah Quazzo 1.0 X 0 0 0 Timothy R Schwertfeger 1.0 X 0 0 0 Nancy S Searle 1.0 X 0 0 0 Alejandro Silva 1.0 X 0 0 0 Michelle Collins 1.0 X 0 0 0 Phyllis Lockett 40.0 X X 262081 0 24143 Bruce V Rauner 1.0 X 0 0 0 John W Rowe 5.0 X X 0 0 0 John F Sandner 1.0 X 0 0 0 Tyrone C Fahner 1.0 X X 0 330191 19988 Jean-Claude Brizard 1.0 X 0 0 0 Thomas J Formolo 1.0 X 0 0 0 Mark S Hoplamazian 1.0 X 0 0 0 J Thomas Hurvis 1.0 X 0 0 0 Clare Munana 1.0 X 0 0 0 David Vitale 1.0 X 0 0 0 John Hooker 1.0 X 0 0 0 Charles Jenkins 1.0 X 0 0 0 Barbara Byrd-Bennett 1.0 X Mark Furlong 1.0 X Jennifer Cline 40.0 X 122205 6559 Chi Yun Huang 40.0 X 116500 8999 500786 330191 59689 3 false true false E Morris Communications INC 820 N Orleans St Ste 404 CHICAGO IL 60610 Marketing 409971 Res Publica Group LLC 444 N Michigan Ave Ste 3600 CHICAGO IL 60611 Consulting 271746 The Parthenon Group 50 Rowes Wharf BOSTON MA 02110 Consulting 187500 Karen Jane Corken 821 W Wrightwood Unit 1 CHICAGO IL 60614 Consulting 134000 Mckinsey Company Inc 55 East 52nd Street Floor 21 NEW YORK NY 10055 Consulting 125000 5 0 2434205 15533 2434205 NEW SCHOOLS COMMUNITY EXPO 900099 14140 14140 14140 59030 59030 0 0 0 0 0 6678260 6662688 15572 15572 15572 0 0 0 MISCELLANEOUS REVENUE 900099 20 20 20 2522967 14140 74622 X 1718363 1718363 0 0 0 286071 57214 100125 128732 0 632591 280526 239836 112229 18065 6253 10147 1665 42558 21650 13821 7087 67442 20361 34810 12271 0 0 19868 19868 0 0 0 1206190 1021398 146444 38348 544574 469808 70266 4500 57168 6841 47594 2733 45923 2520 42748 655 0 163554 600 162954 16742 4700 12032 10 0 22665 13779 8816 70 68 68 0 12898 12898 10367 10367 MEMBERSHIP DUES 1725 1650 75 TRAINING - PROF. DEVELOPMENT 2432 2432 . . 2596 84 2007 505 4871860 3626529 936451 308880 13441 6822 269038 1744849 4493013 2793326 17483 13960 0 0 0 0 0 0 0 0 11693 1693 74482 56740 21289 17742 5669720 3150568 0 0 0 0 0 0 5142 246454 10500819 7975414 286775 88432 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1258 52264 288033 140696 X 1765554 2675868 8447232 5158850 0 0 10212786 7834718 10500819 7975414 -2348893 -29175 X false true X true false X 9176602 2518618 8287920 5064319 2434205 27481664 0 0 9176602 2518618 8287920 5064319 2434205 27481664 6614005 20867659 110697 11954 4003 28769 59030 214453 0 10727 10541 10308 720 20 32316 27728433 24760 0.75257 0.78217 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4871860 4871860 393593 98398 false 494122 426465 397968 393593 1712148 2568222 0 0 0 0 0 123531 106616 99492 98398 428037 642056 0 0 0 74482 56740 17742 17742 0 DUE TO AFFILIATE: COMMERCIAL CLUB 52264 52264 X 2509542 -29175 15750 -13425 2522967 2522967 4887610 15750 15750 4871860 4871860 Schedule D, Part X, Line 2 FIN 48 (ASC 740) Footnote NSC was organized and incorporated in Illinois as a Not-for-Profit Organization in 2004. NSC has received a favorable determination letter from the Internal Revenue Service stating that it is exempt from federal income taxes under the provision of Section 501(c)(3) of the Internal Revenue Code (IRC) of 1986, as amended, except for income taxes pertaining to unrelated business income. The Financial Accounting Standards Board issued guidance that requires tax effects from uncertain tax positions to be recognized in the financial statements only if the position is more-likely-than-not to be sustained if the tax position were to be challenged by a taxing authority. Management has determined there are no material uncertain tax positions that require recognition in the financial statements. Additionally, no provision for income taxes is reflected in these financial statements, and there is no interest or penalties recognized in the Statement of Position or Statement of Activities. The tax years ending 2010, 2011, 2012 and 2013 are still open to audit for both federal and state purposes. Schedule D, Part XI, Line 2b and Part XII, Line 2a Donated Services and Use of Facilities Generally Accepted Accounting Principles (GAAP) establish regulations for reporting donated services. Those regulations require that donated services meeting three criteria should be reflected on the financial statements. The three criteria are as follows: the service requires a specialized skill; work is performed by someone possessing the specialized skill; and the service is something the organization would have had to purchase if it had not been donated. As part of the mission, NSC operates largely with donated services provided by business organizations from the Chicago area. In compliance with GAAP, the value of donated services has been reflected in the accompanying Statements of Activities as revenue and the related expense. For the years ended June 30, 2013 and 2012, donated services totaled $15,750 and $64,076, respectively, for travel and legal services provided by business organizations. These services were recorded at the prevailing costs and market rates. true LEARN Charter School 1132 South Homan Avenue Chicago IL 60624 364439074 501(c)(3) 688746 School Grants KIPP Chicago 1945 S Halsted St Ste 101 Chicago IL 60608 300075271 501(c)(3) 280000 School Grants Noble Network of Charter Schools 1 N State Street Floor 7 Chicago IL 60602 364241970 501(c)(3) 250000 School Grants Catalyst Schools 6727 South California Ave Chicago IL 60629 204069346 501(c)(3) 235000 School Grants Chicago Charter School Foundation 11 East Adams Street Chicago IL 60603 364141583 501(c)(3) 199993 School Grants Providence Englewood 6515 South Ashland Avenue Chicago IL 60636 204527655 501(c)(3) 41125 School Grants Uno Charter School Network 954 West Washington Blvd Chicago IL 60607 364235934 501(c)(3) 23000 School Grants 7 0 Schedule I, Part I, Line 2 Process for Monitoring Grant Funds NSC establishes and monitors terms and conditions for each of its grantee organizations. Funding is based on meeting the required terms and conditions. NSC requires that grantee organizations submit complete and accurate Progress & Expenditure Reports to determine that the grant is being used for the purposes intended. X X false false false false false false false false false Phyllis Lockett 261226 0 0 0 855 0 13125 0 11018 0 286224 0 0 0 Tyrone C Fahner 0 325000 0 0 0 5191 0 16250 0 3738 0 350179 0 0 X 2 15533 Selling Price false false false Schedule M, Part I, Column (B) Number of Contributions or Items Contributed NSC is reporting the number of contributions received. Form 990, Part VI, Line 1a Committees of the Governing Body The Board of Directors, by resolution adopted by a majority of the directors in office, may designate and appoint one or more committees each of which shall consist of two or more directors, which committees, to the extent provided in such resolution, shall have and exercise the authority of the Board of Directors in the management of the corporation. The designation and appointment of any such committee and the delegation thereto of authority shall not operate to relieve the Board of Directors, or any individual director, of any responsibility imposed by law. Form 990, Part VI, Line 11b Review of Form 990 Management and the Treasurer review a draft version of the Form 990. Subsequent to their review, Management and the Treasurer, along with the organization's Director of Finance discuss the draft versions with the tax preparers including any questions or necessary revisions. Based on feedback from that meeting, the Form 990 is revised as necessary. The Board of Directors will receive a copy of the Form 990 prior to filing with the IRS. Form 990, Part VI, Line 12b Director Conflict of Interest policy No director or member of any committee shall derive any personal profit or gain, directly or indirectly, by reason of his or her membership on the Board of Directors or a committee. If a director or committee member is directly or indirectly a party to any transaction considered by the Board of Directors or a committee, the director or committee member shall disclose the material facts of the transaction and the director's interest or relationship prior to the approval or ratification of the transaction by the Board of Directors or committee, and shall not vote on the approval or ratification of the transaction. Form 990, Part VI, Line 12c Monitoring Conflict of Interest Transactions that involve a board member or officer are assessed to determine if a conflict of interest exists. The decisions regarding if a conflict exists is determined by the governing committees of the organization. If a conflict is identified (none identified to date), the member that it relates to is asked to abstain from the conversation and any related decisions made. Although the organization's conflict of interest policy does not require an annual completion of a conflict of interest statement, each officer, director, and key employee is required to disclose on a contemporaneous basis when a conflict arises. Form 990, Part VI, Lines 15a and 15b Compensation Approval Compensation for the Chief Executive Officer of the organization was established and reviewed by the Board of an affiliate organization, and is reviewed by the Chairman of the Board annually. The Board reviews Form 990 data of other organizations to establish compensation, benefits, and increases. The Chief Executive Officer last received a raise in February 2013. New Schools for Chicago has no key employees, however, for top management, the board reviews each position at the time of hire for a market rate. Increases are budgeted in annual budgets which are approved by officers and directors, and then evaluations are given. Raises are then offered based on cost of living adjustments and performance. The directors/officers are informed in general terms of raises offered to staff. Compensation is contemporaneously documented in the personnel files. Form 990, Part VI, Line 19 Documents Available to the Public No documents available to the public. OTHER FEES FOR SERVICES FOR NON-EMPLOYEES FORM 990 PART IX LINE 11G DESCRIPTION:COMMUNITY SERVICE DEVELOPMENT TOTAL FEES:1189197 OTHER FEES FOR SERVICES FOR NON-EMPLOYEES FORM 990 PART IX LINE 11G DESCRIPTION:PROGRAM MGMT & CONSULTING TOTAL FEES:14750 OTHER FEES FOR SERVICES FOR NON-EMPLOYEES FORM 990 PART IX LINE 11G DESCRIPTION:BENEFIT CONSULTING SERVICE TOTAL FEES:2243