2012-08-15T11:32:48-05:00 2011-12-31 KPMG LLP 345 Park Avenue New York NY 101540102 990 2011-01-01 133480246 NATIONAL ACADEMY FOUNDATION % IRA BERKOWITZ CFO NATI 2126352400 218 WEST 40TH STREET 5TH FLOOR NEW YORK NY 10018 IRA BERKOWITZ 2126352400 2012-08-14 true KPMG LLP 2127589700 2011 2016-02-24 21:20:13Z JD HOYE CEO 218 WEST 40TH STREET 5TH FL NEW YORK NY 10018 17879423 false X WWW.NAF.ORG X 1988 NY NATIONAL ACADEMY FOUNDATION STRENGTHENS AND EXPANDS THE POOL OF HIGH SCHOOL GRADUATES PREPARED TO ENTER THE WORKFORCE THROUGH ITS SERVICE TO OVER 500 ACADEMIES LOCATED IN SCHOOL DISTRICTS NATIONWIDE. 17 16 69 16 0 0 9968545 8520080 1804215 1849141 260686 278906 21926 169574 12055372 10817701 414640 247908 0 0 4845659 5912197 77500 63774 956873 7885077 7183486 13222876 13407365 -1167504 -2589664 13038050 10467092 1406219 1974489 11631831 8492603 X SEE SCHEDULE O. false false 3716129 78175 628708 THE ACADEMY OF FINANCE CONNECTS HIGH SCHOOL STUDENTS WITH THE WORLD OF FINANCIAL SERVICES, OFFERING A CURRICULUM THAT COVERS BANKING AND CREDIT, FINANCIAL PLANNING, INTERNATIONAL FINANCE SECURITIES, INSURANCE, ACCOUNTING, AND ECONOMICS. 2363244 499268 THE ACADEMY OF INFORMATION TECHNOLOGY PREPARES STUDENTS FOR CAREER OPPORTUNITIES IN PROGRAMMING, DATABASE ADMINISTRATION, WEB DESIGN AND ADMINISTRATION, DIGITAL NETWORKS, AND OTHER AREAS IN THE EXPANDING DIGITAL WORKPLACE. 2076661 16000 351337 THE ACADEMY OF ENGINEERING ANSWERS AN ACUTE NEED FOR ENGINEERS IN THIS COUNTRY BY EDUCATING HIGH SCHOOL STUDENTS IN THE PRINCIPLES OF ENGINEERING, AND PROVIDING CONTENT IN THE FIELDS OF ELECTRONICS, BIOTECH, AEROSPACE, CIVIL ENGINEERING, AND ARCHITECTURE. 2185958 153733 369828 10341992 true true false false false false false false true true true false false false false true true false false false false false false true true false false true true true false false false false false false false false true false false false false false false false false false true 97 0 true 69 true false false false false false true true false false false false X 17 16 true false false false false false false true true false false true true true true true true true true false AK AZ AR CT FL GA HI IL KS KY ME MD MA MI MN NH NJ NY NC OH OK OR PA SC TN UT VA WA X X IRA BERKOWITZ CFO 2126352400 218 WEST 40TH STREET 5TH FLOOR NEW YORK NY 10018 X JONDEL HOYE 40.0 X X 387152 0 55376 SANFORD WEILL 3.0 X 0 0 0 KENNETH I CHENAULT 3.0 X 0 0 0 WILLIAM P HANNON 3.0 X 0 0 0 EUGENE A LUDWIG 3.0 X 0 0 0 JAY S FISHMAN 3.0 X 0 0 0 ANDY F BESSETTE 3.0 X 0 0 0 URSULA M BURNS 3.0 X 0 0 0 DANIEL L DOCTOROFF 3.0 X 0 0 0 ROBERT C DUGHI 3.0 X 0 0 0 LINDA HUBER 3.0 X 0 0 0 A KIRK LANTERMAN 3.0 X 0 0 0 LOWELL MCADAM 3.0 X 0 0 0 HAROLD MCGRAW III 3.0 X 0 0 0 HUNTER R RAWLINGS III 3.0 X 0 0 0 JAMES D ROBINSON III 3.0 X 0 0 0 ROBERT SCHWARTZ 3.0 X 0 0 0 RONALD A WILLIAMS 3.0 X 0 0 0 SANJIY YAJNIK 3.0 X 0 0 0 DAVID MOORE 40.0 X 183358 0 6185 MARGARET SULLIVAN 40.0 X 207618 0 9374 IRA BERKOWITZ 40.0 X 167993 0 42005 946121 0 112940 8 false true false PEARSON CHARITABLE FOUNDATION 1330 AVENUE OF THE AMERICAS 7TH FL NEW YORK NY 10019 CURRICULUM SERVICES 1027441 WESTED 4665 LAMPSON AVENUE LOS ALAMITOS CA 90720 CONSULTING SERVICES 917102 COLLABORATIVE COMMUNICATIONS GROUP 1029 VERMONT AVE NW 9TH FL WASHINGTON DC 20005 CONSULTING SERVICES 262267 KPMG LLP DEPT 0511 PO BOX 120001 DALLAS TX 75312 AUDIT & TAX SERVICES 213950 SHERYL MEYER 411 WEST ONTARIO STREET APT 204 CHICAGO IL 60654 CONSULTING SERVICES 109997 5 1457280 7062800 84682 8520080 CONFERENCE REGISTRATION FEES 541900 736840 736840 MEMBERSHIP DUES 541900 1112301 1112301 1849141 335182 335182 0 0 6565391 6621667 -56276 -56276 -56276 601975 1457280 440055 161920 0 0 OTHER INCOME 900099 7654 7654 7654 10817701 1856795 0 278906 212408 212408 35500 35500 0 0 1059062 449085 221102 388875 0 3787106 2648656 838260 300190 328083 243156 61569 23358 386372 287753 48870 49749 351574 230029 77639 43906 1676651 1537454 139197 4163 3200 963 101910 101910 0 63774 63774 0 1483642 1483642 0 0 0 0 481206 369904 66781 44521 819249 772846 36555 9848 0 1686428 1685443 985 0 0 173543 173543 0 MISCELLANEOUS 756694 382916 342111 31667 13407365 10341992 2108500 956873 0 0 347537 137915 2998246 1861916 684540 560616 0 0 0 0 0 0 0 0 140289 146937 1542196 1154450 475737 387746 8391701 7371962 0 0 0 0 0 0 0 0 13038050 10467092 1379134 1703404 0 0 6000 250000 0 0 21085 21085 0 0 0 0 0 0 0 0 1406219 1974489 X 4774078 4269280 6327753 3693323 530000 530000 11631831 8492603 13038050 10467092 X -2589664 -549564 X false true true X false X 8739925 9745732 7657202 9968545 8682000 44793404 0 0 0 0 0 0 0 0 0 0 0 0 8739925 9745732 7657202 9968545 8682000 44793404 16681245 28112159 401346 551853 605942 402960 335182 2297283 0 0 0 0 0 0 1750436 920095 0 1826141 1856795 6353467 53444154 7900119 0.52601 0.50839 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true 673964 20189 126000 568153 530000 530000 530000 530000 530000 530000 0.93000 0.07000 false false 0 195847 39961 155886 0 264494 179378 85116 0 1081858 935114 146744 387746 0 0 10817701 13407365 -2589664 -109509 -440055 -549564 -3139228 11421128 -109509 712936 603427 10817701 10817701 14560356 712936 440055 1152991 13407365 13407365 PART IV, LINE 2B: NATIONAL ACADEMY FOUNDATION HOLDS FUNDS FOR SEVERAL ACADEMIES THAT PARTICIPATE IN ITS EDUCATIONAL PROGRAMS, TO BE USED FOR RELATED ACTIVITIES. PART V LINE 1: TEMPORARILY RESTRICTED ENDOWMENT FUND WAS INCLUDED IN THE CURRENT YEAR IN ACCORDANCE WITH THE NEW CHANGES WITH THE 990. PART V LINE 4: THE ALDO PAPONE ENDOWMENT WAS ESTABLISHED BY THE AMERICAN EXPRESS COMPANY IN 1991 TO PROVIDE FUNDS FOR GRANT AWARDS TO OUTSTANDING U.S. ACADEMY PROGRAMS. ON AN ANNUAL BASIS, A MAXIMUM OF 7% OF THE ALDO PAPONE ENDOWMENT'S ASSETS ARE AVAILABLE FOR DISBURSEMENT. THE JESSE BLACKMAN ENDOWMENT WAS ESTABLISHED IN 1994 WITH A CONTRIBUTION FROM THE AMERICAN EXPRESS COMPANY. THE PURPOSE OF THE JESSE BLACKMAN ENDOWMENT IS TO PROVIDE FUNDS FOR A SCHOLARSHIP TO AN OUTSTANDING STUDENT IN THE HOSPITALITY AND TOURISM PROGRAM. PRESENTLY, THE ANNUAL SCHOLARSHIP LIMIT IS $1,500. FIN 48 PART X, LINE 2: THE FOUNDATION OPERATES AS A NOT-FOR-PROFIT CORPORATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS EXEMPT FROM FEDERAL INCOME TAXES. ACCORDINGLY, IT IS NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR 2011 0R 2010. PART XI, LINE 8 AND PART XIII, LINE 2: SPECIAL EVENT EXPENSES REPORTED ON 990 PART VIII, LINE 8. X X X X X X true ELINORE ANTELL GRANTWRITER false 0 44000 0 KEARNEY STANIFORD GRANTWRITER false 0 18750 0 0 62750 0 AK AZ AR CT FL GA HI IL KS KY ME MD MA MI MN NH NJ NY NC OH OK OR PA SC TN UT VA WA GALA 2059255 1457280 601975 440055 0 2059255 1457280 601975 440055 440055 161920 true BARKER CENTRAL SCHOOL DISTRICT 1628 QUAKER ROAD BARKER NY 14012 SCHOOL DISTRICT 58175 0 N/A N/A AOE PILOT GRANT CENTURY HIGH SCHOOL AOE 1401 SOUTH GRAND AVENUE SANTA ANA CA 92705 SCHOOL DISTRICT 10000 0 N/A N/A YOP GRANT CHINO HILLS HIGH SCHOOL AOHS 16150 POMONA RINCON ROAD CHINO HILLS CA 91709 SCHOOL DISTRICT 10000 0 N/A N/A YOP GRANT DOWNTOWN MAGNETS HIGH SCHOOL - AOE 1081 WEST TEMPLE STREET LOS ANGELES CA 90012 SCHOOL DISTRICT 10000 0 N/A N/A YOP GRANT HIRAM JOHNSON HIGH SCHOOL AOF 6879 14TH AVENUE SACRAMENTO CA 95820 SCHOOL DISTRICT 10000 0 N/A N/A YOP GRANT JOHN MUIR HIGH SCHOOL-AOE 1905 LINCOLN AVENUE PASADENA CA 91103 SCHOOL DISTRICT 20000 0 N/A N/A YOP GRANT NYC DEPARTMENT OF EDUCATION 39 BROADWAY NEW YORK NY 10006 GOVERNMENT 15000 0 N/A N/A AOE PILOT GRANT 0 7 SCHOLARSHIPS 11 35500 0 N/A N/A EXPLANATION OF GRANT QUALIFICATIONS NATIONAL ACADEMY FOUNDATION ("NAF") DISBURSES SEVERAL SCHOLARSHIPS TO STUDENTS WHO ARE SENIORS IN THE ACADEMIES DURING THE SCHOOL YEAR. IN ADDITION, PROGRAM GRANTS ARE DISBURSED TO THE ACADEMIES THEMSELVES TO ASSIST WITH PROGRAM EXPENDITURES. SCHOLARSHIPS ARE AWARDED THROUGH A COMPETITIVE APPLICATION PROCESS. DIFFERENT SCHOLARSHIP PROGRAMS HAVE VARYING CRITERIA, BUT IN GENERAL THE FOLLOWING APPLY: STUDENTS MUST BE ENROLLED IN AN ACADEMY, BE IN THEIR SENIOR YEAR, AND HAVE A MINIMUM GPA OF 3.0. ALONG WITH THE APPLICATION, THEY MUST SUBMIT AN ESSAY RESPONSE AS WELL AS WRITTEN RECOMMENDATIONS FROM A TEACHER, ACADEMY DIRECTOR, OR INTERNSHIP EMPLOYER. PROGRAM GRANTS ARE ALSO AWARDED THROUGH A COMPETITIVE PROCESS. AS PART OF THE PROPOSAL, APPLICANTS (ACADEMIES) MUST INCLUDE PROGRAM STATISTICS INCLUDING DATA ON COLLEGE PLACEMENT, ALUMNI SUCCESS STORIES, PROGRAM AWARDS, PROGRAM ENDORSEMENTS FROM THE SCHOOL OR BUSINESS COMMUNITY, ETC. THE APPLICATION MUST ALSO INCLUDE A DETAILED DESCRIPTION OF THE PROJECT, A PLAN FOR HOW FUNDS WILL BE USED TO ACCOMPLISH THE PROJECT, A PROJECT BUDGET (INCLUDING OTHER INCOME SOURCES IF APPLICABLE), A TIME LINE FOR CARRYING OUT THE PROJECT, AND AN EXPLANATION OF HOW THIS PROJECT CAN BE REPLICATED BY OTHER LOCAL ACADEMIES. ALL APPLICATIONS ARE POSTED ON THE NAF WEBSITE, ADVERTISED BY EMAIL TO ALL ENROLLED STUDENTS AND TEACHERS, AND DISTRIBUTED IN PRINTED FORMAT AT NAF CONFERENCES. APPLICATIONS AND PROPOSALS FOR SCHOLARSHIPS AND GRANTS, AND ACCOMPANYING REQUIRED PAPERWORK, ARE SELECTED AND EVALUATED BY EXTERNAL ADMINISTRATORS, VIZ. THE EDUCATIONAL TESTING SERVICE (ETS), CITIZENS SCHOLARSHIP FOUNDATION OF AMERICA (CSFA), AND THE CERTIFIED FINANCIAL PLANNER BOARD (CFPB). FINALISTS ARE THEN REVIEWED BY COMMITTEES COMPRISED OF MEMBERS OF STAFF FROM THE NATIONAL ACADEMY FOUNDATION AND THE BUSINESS ENTERPRISE THAT CONTRIBUTES THE SCHOLARSHIP/GRANT FUNDS TO NAF. NAF NOTIFIES THE WINNERS, AND DISBURSEMENT IS MADE BY ETS, CSFA, CFPB, OR BY THE NATIONAL ACADEMY FOUNDATION. X X X false false false false false false false false false JONDEL HOYE 387152 0 0 0 0 0 37541 0 17835 0 442528 0 0 0 DAVID MOORE 183358 0 0 0 0 0 2185 0 4000 0 189543 0 0 0 MARGARET SULLIVAN 207618 0 0 0 0 0 6595 0 2779 0 216992 0 0 0 IRA BERKOWITZ 167993 0 0 0 0 0 13374 0 28631 0 209998 0 0 0 X 3767 84682 AVERAGE COST 0 false true false PART III, LINE 1 ORGANIZATION'S MISSION NATIONAL ACADEMY FOUNDATION STRENGTHENS AND EXPANDS THE POOL OF HIGH SCHOOL GRADUATES PREPARED TO ENTER THE WORKFORCE. THE FOUNDATION SERVES OVER 500 ACADEMIES LOCATED IN SCHOOL DISTRICTS NATIONWIDE, SPECIALIZING IN HOSPITALITY AND TOURISM, FINANCE, INFORMATION TECHNOLOGY, AND ENGINEERING. THE FOUNDATION CREATES PROGRAM GOALS AND PRODUCES CURRICULUM FOR NATIONAL DISTRIBUTION TO THE ACADEMIES AND PROVIDES TEACHER TRAINING AND ON-SITE ASSISTANCE TO THE ACADEMIES, WITH A SPECIALIZATION IN CONNECTING ACADEMIES TO THE BUSINESS WORLD THROUGH A MODEL THAT OFFERS PAID INTERNSHIPS TO STUDENTS AND ADVISORY BOARDS MADE UP OF LOCAL PROFESSIONALS. PART III, LINE 4D OTHER PROGRAM SERVICES THE ACADEMY OF HOSPITALITY AND TOURISM HELPS STUDENTS CHART CAREER PATHS IN ONE OF THE WORLD'S LARGEST INDUSTRIES, FROM HOTEL MANAGEMENT TO SPORTS, ENTERTAINMENT, AND EVENT MANAGEMENT, AND INCLUDES THE STUDY OF GEOGRAPHY, ECONOMICS, AND WORLD CULTURES. THE ACADEMY OF HOSPITALITY AND TOURISM CURRICULUM HAS RECEIVED INDUSTRY VALIDATION FROM THE GLOBAL TRAVEL AND TOURISM PARTNERSHIP (GTTP) AND THE INSTIUTE OF TRAVEL AND TOURISM (ITT). THE ACADEMY OF HEALTH SCIENCES ADDRESSES THE CRITICAL ACHIEVEMENT GAP IN STEM FIELDS AND DEVELOPS A PIPELINE OF STUDENTS PREPARED TO PURSUE HEALTH-RELATED DEGREES AND PROFESSIONS IN ONE OF THE FASTEST GROWING SECTORS OF THE ECONOMY, INCLUDING BIOTECHNOLOGY, GENETICS, NURSING, THERAPEUTICS, AND DIAGNOSTICS. PART VI GOVERNANCE, MANAGEMENT, AND DISCLOSURE SECTION A. LINE 2 JAY FISHMAN, WILLIAM HANNON AND ANDY BESSETTE ; BUSINESS RELATIONSHIP - ALL EXECUTIVE OFFICERS OF THE TRAVELERS COMPANIES, INC. JAY FISHMAN IS THE CEO, WILLIAM HANNON IS EXECUTIVE VICE PRESIDENT AND ANDY BESSETTE IS THE CHIEF ADMINISTRATIVE OFFICER. THE INSURANCE WAS NEGOTIATED WITH AN INDEPENDENT THIRD PARTY INSURANCE BROKER AT ARM'S LENGTH AND IN THE NORMAL COURSE OF BUSINESS. THE TOTAL AMOUNT OF THE INSURANCE PREMIUM DID NOT EXCEED $35,000. THIS AMOUNT IS NOT MATERIAL TO NAF OR THE TRAVELERS COMPANIES, INC. AND FALLS BELOW THE APPLICABLE THRESHOLD FOR REPORTING ON SCHEDULE L. PART VI GOVERNANCE, MANAGEMENT, AND DISCLOSURE SECTION B. LINE 11 THE RETURN IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY THE COMPANY AND IN CONSULTATION WITH NATIONAL ACADEMY FOUNDATION STAFF MEMBERS. THE DRAFT PREPARED BY THE ACCOUNTING FIRM IS THEN REVIEWED BY THE COMPANY'S FINANCE DEPARTMENT, AND THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. THE FINAL VERSION OF THE ORGANIZATION'S FORM 990 IS THEN PROVIDED TO THE FULL BOARD OF DIRECTORS PRIOR TO SUBMISSION OF THE RETURN TO THE INTERNAL REVENUE SERVICE. PART VI GOVERNANCE, MANAGEMENT, AND DISCLOSURE SECTION B. LINE 12 NATIONAL ACADEMY FOUNDATION HAS A CODE OF ETHICS/CONFLICT OF INTEREST POLICY REQUIRING ALL EMPLOYEES AND BOARD MEMBERS TO COMPLETE A CONFLICT OF INTEREST POLICY LETTER ANNUALLY. THE STAFF LETTERS ARE REVIEWED AND MAINTAINED BY THE CFO. THE BOARD LETTERS ARE REVIEWED BY THE CEO AND CHAIRMAN OF THE BOARD. IN THE EVENT OF A CONFLICT OF INTEREST, THE BOARD OF DIRECTORS DETERMINES THE APPROPRIATE ACTIONS REQUIRED, INCLUDING PREVENTING THE INDIVIDUAL FROM PARTICIPATING IN DISCUSSION AND DECISIONS REGARDING THE MATTER. PART VI GOVERNANCE, MANAGEMENT, AND DISCLOSURE SECTION B. LINE 15 NAF HIRED AN INDEPENDENT COMPENSATION CONSULTANT TO PRODUCE A SALARY SURVEY IN 2011. NAF HAS SET COMPENSATION FOR SENIOR MANAGEMENT WITHIN THE RANGE OF THE GOING MARKET RATE FOR FUNCTIONALLY COMPARABLE POSITIONS HELD BY INDIVIDUALS WITH SIMILAR EXPERIENCE LEVELS AT SIMILARLY SITUATED ORGANIZATIONS. DOCUMENTATION IS MAINTAINED IN NAF'S RECORDS. THE FULL BOARD OF DIRECTORS REVIEWS AND APPROVES THE PRESIDENT'S COMPENSATION. NAF'S CONFLICT OF INTEREST POLICY WOULD PRECLUDE ANY INDIVIDUALS HAVING A CONFLICT OF INTEREST FROM BEING INVOLVED IN DETERMINING COMPENSATION. PART VI GOVERNANCE, MANAGEMENT, AND DISCLOSURE SECTION C. LINE 19 NATIONAL ACADEMY FOUNDATION DOES NOT CURRENTLY MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. PART XI, LINE 5 OTHER CHANGES IN NET ASSETS OR FUND BALANCES UNREALIZED LOSS ON INVESTMENTS: (109,509) SPECIAL EVENTS NETTED WITH REVENUE: (440,055) --------- OTHER CHANGES IN NET ASSETS OR FUND BALANCE (549,564) =========