2012-05-11T11:08:34-05:00 2011-06-30 CLARK NUBER PS 10900 NE 4TH STREET SUITE 1700 BELLEVUE WA 98004 990 2010-07-01 911163554 NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION NORT 2063748844 2815 2ND AVENUE NO 280 SEATTLE WA 98121 HENRY F KEATON 2063748844 2012-05-10 1 SARA ELIZABETH J HYRE 4254544919 2010 2016-02-24 21:20:13Z AMERICAN FINANCIAL SOLUTIONS HENRY F KEATON 2815 2ND AVENUE NO 280 SEATTLE WA 98121 6917838 0 X WWW.MYFINANCIALGOALS.ORG X 1986 WA NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION PROMOTES, SUPPORTS, - SEE SCHEDULE OMAINTAINS, DEVELOPS, AND EXTENDS EDUCATIONAL OFFERINGS AND THE PURSUIT THEREOF AT OR IN CONNECTION WITH THE NORTH SEATTLE COMMUNITY COLLEGE.AMERICAN FINANCIAL SOLUTIONS (AFS) IS A DIVISION OF THE NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION, THE MISSION OF WHICH IS TO EMPOWER PEOPLE TO IMPROVE THE QUALITY OF THEIR LIVES THROUGH FINANCIAL EDUCATION AND COUNSELING. WE REDIRECT A PORTION OF OUR PROCEEDS TO A FUND THAT PROVIDES STUDENT SCHOLARSHIPS, FACULTY GRANTS, AND OTHER ACADEMIC PROGRAMS FOR NORTH SEATTLE COMMUNITY COLLEGE. 6 6 50 3 0 0 7126727 4179449 2879457 2659911 7154 78478 0 0 10013338 6917838 40000 250000 0 0 2902945 2729699 0 0 0 12458052 3834883 15400997 6814582 -5387659 103256 10180090 7900095 4703471 2320220 5476619 5579875 X THE NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION (THE FOUNDATION) OPERATES EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1954, AS AMENDED. - SEE SCHEDULE O 0 0 5545367 2659911 CONSUMER CREDIT COUNSELING PROGRAM TO ASSIST FINANCIALLY DISTRESSED INDIVIDUALS GAIN CONTROL OF PERSONAL FINANCIAL SITUATIONS THROUGH EDUCATION AND INDIVIDUALLY TAILORED SOLUTIONS. NET REVENUES FROM CREDIT COUNSELING ACTIVITIES FUND THE FOUNDATION'S FINANCIAL AND PROGRAMMATIC SUPPORT OF THE COLLEGE.CREDIT COUNSELING - AMERICAN FINANCIAL SOLUTIONS (AFS) HELPS CLIENTS FREE THEMSELVES FROM THE ANXIETY AND STRESS OF CREDIT, DEBT AND FINANCIAL WORRIES BY PROVIDING CREDIT COUNSELING, FINANCIAL EDUCATION AND DEBT MANAGEMENT SERVICES THAT PUT CLIENTS IN CONTROL OF THEIR FINANCIAL SUCCESS. 10,747 CLIENTS WERE COUNSELED IN A CONFIDENTIAL, ONE-ON-ONE COUNSELING SESSION, - SEE SCHEDULE O WHERE CERTIFIED CREDIT COUNSELORS HELP ASSESS CLIENTS' SITUATIONS AND IDENTIFY OPTIONS TO MANAGE AND PAY OFF DEBTS. THERE IS NO CHARGE FOR COUNSELING OR EDUCATION SERVICES. DEBT MANAGEMENT PLANS - ONE OF THE OPTIONS AVAILABLE TO CLIENTS WHO ARE STRUGGLING WITH REPAYING UNSECURED DEBT IS A DEBT MANAGEMENT PLAN. A DEBT MANAGEMENT PLAN IS A WAY TO CONSOLIDATE CREDIT AND UNSECURED DEBT INTO ONE MONTHLY PAYMENT THAT FITS WITHIN A CLIENT'S BUDGET, ALLOWING REPAYMENT OF DEBTS MORE QUICKLY OVER TIME THAN WOULD OTHERWISE BE POSSIBLE. CHARGES APPLY TO ENROLL IN DEBT MANAGEMENT PLANS. THESE FEES ARE REGULATED BY THE 48 STATES IN WHICH AFS IS LICENSED AND BY INDUSTRY GUIDELINES DEVELOPED BY NON-PROFIT CREDIT COUNSELING AGENCIES. 2,366 DEBT MANAGEMENT PLANS WERE ENTERED INTO DURING THE FISCAL YEAR.HOME FORECLOSURE COUNSELING - AFS IS A HUD-APPROVED HOUSING COUNSELING AGENCY THAT OFFERS ASSISTANCE TO CLIENTS TO HELP THEM TRY TO AVOID THE LOSS OF THEIR HOMES. IN CONFIDENTIAL, ONE-ON-ONE COUNSELING SESSIONS, 405 CLIENTS WERE OFFERED HELP BY AFS COUNSELORS WHO ASSESS THEIR SITUATIONS, INFORM THEM OF OPTIONS AND WORK DIRECTLY WITH THEIR LENDERS TO TRY TO FIND SOLUTIONS THAT WILL WORK FOR THE CLIENT. MORTGAGE COUNSELING SESSIONS ARE OFFERED FREE OF CHARGE TO CLIENTS.COUNSELING BEFORE BANKRUPTCY - IN CONFIDENTIAL, ONE-ON-ONE COUNSELING SESSIONS, AFS CERTIFIED CREDIT COUNSELORS HELPED 580 CLIENTS ASSESS THEIR CURRENT INCOME AND ASSETS VERSUS MONTHLY EXPENSES AND DEBTS. WITH THIS INFORMATION, AFS CREATES AN ACCURATE AND DETAILED MONTHLY BUDGET THAT CAPTURES THE CLIENT'S OVERALL FINANCIAL SITUATION. THIS PROCESS ALLOWS THE COUNSELOR TO BETTER EXPLAIN WHAT BANKRUPTCY MEANS TO THE CLIENT AND THE POSSIBLE ALTERNATIVES FOR HANDLING DEBTS. AFS IS APPROVED BY THE EXECUTIVE OFFICE FOR U.S. TRUSTEES (EOUST) TO ISSUE CERTIFICATES OF CREDIT COUNSELING IN COMPLIANCE WITH THE BANKRUPTCY CODES OF CALIFORNIA, GEORGIA, INDIANA, MARYLAND, NEW YORK, OREGON, TEXAS, VIRGINIA AND WASHINGTON. APPROVAL DOES NOT ENDORSE OR ASSURE THE QUALITY OF AN AGENCY'S SERVICES.POST-BANKRUPTCY EDUCATION - THE BANKRUPTCY CODE REQUIRES CONSUMERS TO COMPLETE AN APPROVED FINANCIAL EDUCATION COURSE, ALSO KNOWN AS POST-BANKRUPTCY CREDIT COUNSELING, WITH AN APPROVED AGENCY BEFORE DEBTS CAN BE DISCHARGED. AFS PROVIDES THIS COURSE UTILIZING THE "MONEY IN MOTION" PROGRAM. AFS IS APPROVED BY THE EXECUTIVE OFFICE FOR U.S. TRUSTEES (EOUST) TO PROVIDE THE REQUIRED POST-BANKRUPTCY EDUCATION IN COMPLIANCE WITH THE BANKRUPTCY CODES OF CALIFORNIA, GEORGIA, INDIANA, MARYLAND, NEW YORK, OREGON, TEXAS, VIRGINIA AND WASHINGTON. 250000 250000 SUPPORTS NORTH SEATTLE COMMUNITY COLLEGE THROUGH FINANCIAL CONTRIBUTIONS FOR SCHOLARSHIPS, FACULTY GRANTS AND OTHER PURPOSES, AND BY PROVIDING FOUNDATION PERSONNEL AND RESOURCES FOR SPECIFIC EDUCATIONAL PROJECTS IN COLLABORATION WITH THE COLLEGE. 21548 PUBLIC EDUCATIONAL OUTREACH ACTIVITIES FOCUSING ON CONSUMER DEBT AND OTHER PERSONAL FINANCE SUBJECTS. FREE WORKSHOPS, SEMINARS, PUBLICATIONS AND ONLINE COURSES. 1,235 INDIVIDUALS PARTICIPATED IN FACE TO FACE EDUCATION CLASSES, WHILE 1,830 INDIVIDUALS PARTICIPATED IN ON-LINE EDUCATION CLASSES.FINANCIAL LITERACY EDUCATION - AMERICAN FINANCIAL SOLUTIONS, IN PARTNERSHIP WITH THE SEATTLE COMMUNITY COLLEGES TELEVISION AND NORTH SEATTLE COMMUNITY COLLEGE, HAS CREATED EIGHT POWERFUL PERSONAL FINANCE COURSES THAT ARE AVAILABLE TO THE PUBLIC ONLINE FOR FREE, WITH AN OPTION TO RECEIVE A CERTIFICATE FOR THE STUDENT'S CREDIT FILE, CALLED "INVESTING IN YOURSELF." THIS SERIES OF PROGRAMS - SEE SCHEDULE O TEACHES THE ESSENTIALS OF SMART MONEY MANAGEMENT. AFS ALSO CONDUCTS WORKSHOPS IN THE WESTERN WASHINGTON COMMUNITY TO BUILD FINANCIAL LITERACY AND HELP PERSONS TO BETTER MANAGE THEIR MONEY. A VARIETY OF PROGRAMS ARE AVAILABLE FOR ADULTS, YOUNG ADULTS, PARENTS AND TEACHERS. 5816915 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 26 0 1 50 1 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OR IL ME MA OH NM MT CA CT MD WA X CINDY SEREMEK 2063748844 2815 2ND AVENUE 280 SEATTLE WA 98121 JEROME GRONFEIN 3.00 X X 1200 0 0 JOSEPH JAHN 3.00 X X 1200 0 0 WILLIAMS JARVIS 3.00 X X 1200 0 0 WILLIAM MASON 3.00 X 0 0 0 DR RONALD LAFAYETTE 3.00 X 1200 0 0 MARK MITSUI 3.00 X 0 0 0 HENRY F KEATON 45.00 X 152120 0 5899 CINDY R SEREMEK 45.00 X 131920 0 17673 KEVIN F CROWE 40.00 X 127877 0 15383 416717 0 38955 3 0 1 0 AMERIX CORPORATION 8930 STANFORD BLVD COLUMBIA MD 21045 BACK OFFICE PROCESSING 1658290 3C INCORPORATED 8930 STANFORD BLVD COLUMBIA MD 21045 MARKETING 231297 GOOGLE 1600 AMPHITHEATRE PARKWAY MOUNTAIN VIEW CA 94043 MARKETING 206611 3 4179449 4179449 CLIENT/SETUP, NSF FEES 541990 2659911 2659911 2659911 78478 78478 6917838 2659911 0 78478 250000 250000 319713 319713 1821164 1608830 212334 25230 23086 2144 353900 325923 27977 209692 178508 31184 90903 5261 85642 42816 2477 40339 770084 770084 390670 363618 27052 18132 16056 2076 197689 161553 36136 25057 18793 6264 73872 65714 8158 327481 146891 180590 PROCESSING FEES 1733815 1733815 LICENSE/PERMITS/FEES 77869 77869 DUES & SUBSCRIPTIONS 22350 20115 2235 CLIENT EDUCATION 21548 21548 ACCREDITATION 5153 2577 2576 37444 24197 13247 6814582 5816915 997667 0 1603026 1273857 7938535 5998775 37121 178319 102186 23543 369196 354039 683892 612330 130026 71562 10180090 7900095 1883058 577094 100000 100000 2720413 1643126 4703471 2320220 X 5476619 5579875 5476619 5579875 10180090 7900095 103256 0 X 0 1 1 X 0 X 30558931 18733508 11302088 7126727 4179449 71900703 30558931 18733508 11302088 7126727 4179449 71900703 2833701 69067002 941542 649128 127572 7154 78478 1803874 62828 616088 314270 993186 74697763 11486932 0.92460 0.94300 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INSURANCE REIMBURSEMENT RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 110004 110004 0 573888 502326 71562 71562 6917838 6814582 103256 0 103256 6917838 0 6917838 0 6917838 6814582 0 6814582 0 6814582 PART IV, LINE 2B: AMERICAN FINANCIAL SOLUTIONS, A DIVISION OF NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION, COLLECTS PAYMENTS FROM CLIENTS THAT IT DISTRIBUTES TO VARIOUS CREDITORS ON THE CLIENT'S BEHALF IN ACCORDANCE WITH EACH CLIENT'S DEBT MANAGEMENT PLAN. THE AMOUNTS COLLECTED BUT NOT YET REMITTED TO CREDITORS ARE SHOWN AS CASH HELD IN TRUST WITH A CORRESPONDING LIABILITY FOR THE AMOUNTS HELD IN TRUST. 1 NORTH SEATTLE COMMUNITY COLLEGE EDUCATION FUND 9600 COLLEGE WAY NORTH SEATTLE WA 98103 412178833 501(C)(3) 25000 SPONSORSHIP FOR AUCTION AND SCHOLARSHIPS. NORTH SEATTLE COMMUNITY COLLEGE 9600 COLLEGE WAY NORTH SEATTLE WA 98103 910826872 GOV'T ENTITY 225000 SCHOLARSHIPS, FACULTY GRANTS, PROGRAMS AND OTHER PURPOSES. 2 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION GRANTED FUNDS TO NORTH SEATTLE COMMUNITY COLLEGE FOR SCHOLARSHIPS, FACULTY GRANTS AND OTHER PURPOSES. A SUMMARY IS RECEIVED FROM THE COLLEGE SHOWING HOW THE FUNDS WERE SPENT. X X X 0 0 0 0 0 0 0 0 0 HENRY F KEATON 152120 0 0 0 0 0 0 0 5899 0 158019 0 0 0 FORM 990, PART I, LINE 6 - VOLUNTEER ACTIVITIES: OFFICE ADMINISTRATIVE WORK AND BOARD MEMBERS. FORM 990, PART III, LINE I: ORGANIZATION MISSION STATEMENT INCLUDING PROMOTING, SUPPORTING, MAINTAINING, DEVELOPING, AND EXTENDING EDUCATIONAL OFFERINGS AND THE PURSUIT THEREOF AT OR IN CONNECTION WITH THE NORTH SEATTLE COMMUNITY COLLEGE. AMERICAN FINANCIAL SOLUTIONS (AFS) IS A DIVISION OF THE NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION, A NON-PROFIT 501(C)(3) TAX EXEMPT ORGANIZATION. AFS IS DEDICATED TO: -EDUCATING THE GENERAL PUBLIC ON THE PROPER USE OF CREDIT, DEBT MANAGEMENT, AND RELATED PURPOSES. -PROVIDING FINANCIAL SUPPORT TO NORTH SEATTLE COMMUNITY COLLEGE TO FUND STUDENT SCHOLARHSIPS AND OTHER EDUCATIONAL PROGRAMS. NO PART OF THE NET EARNINGS OF THE FOUNDATION OR OF AFS INURES TO THE BENEFIT OF ANY PRIVATE PERSON OR ORGANIZATION OTHER THAN STUDENT SCHOLARSHIPS AND RELATED PROGRAMS OF NORTH SEATTLE COMMUNITY COLLEGE. AFS WAS ESTABLISHED AS A PROGRAM OF THE FOUNDATION DURING THE FISCAL YEAR ENDED JUNE 30, 1999. AFS OPERATES A CONSUMER CREDIT COUNSELING PROGRAM AND AS SUCH, OFFERS COUNSELING, EDUCATION, REFERRAL RESOURCES, AND DEBT MANAGEMENT PROGRAMS TO ITS CALLERS. AFS ALSO OFFERS A VARIETY OF EDUCATIONAL AND COUNSELING RESOURCES AND PROGRAMS TO THE GENERAL PUBLIC AND COMMUNITY ORGANIZATIONS. THE PURPOSE OF THESE SERVICES IS TO ENABLE FINANCIALLY DISTRESSED PEOPLE TO HAVE A BETTER UNDERSTANDING OF THEIR PERSONAL FINANCES AND USE OF CREDIT BY OFFERING RESOURCES AND ALTERNATIVES TO THEM. PROGRAMS OFFERED INCLUDE FINANCIAL LITERACY EDUCATION, CREDIT COUNSELING, DEBT MANAGEMENT PLANS, HOME FORECLOSURE COUNSELING, COUNSELING BEFORE BANKRUPTCY AND POST-BANKRUPTCY EDUCATION. FORM 990, PART VI, SECTION B, LINE 11 EACH BOARD MEMBER IS PROVIDED A COPY OF THE FORM 990 AND ASKED TO REVIEW THE FORM AND PROVIDE ANY COMMENTS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND DIRECTORS COMPLETE A CONFLICT OF INTEREST DISCLOSURE YEARLY. THE ORGANIZATION'S ATTORNEY REVIEWS ALL INFORMATION TO ENSURE THERE ARE NO CONFLICTS. IF A CONFLICT OF INTEREST ARISES WITH A BOARD DIRECTOR, THEY WILL NOT BE ABLE TO PARTICIPATE IN DISCUSSION OR VOTE ON SUCH TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS/ SETS THE SALARY OF THE CEO BASED UPON COMPARABLILITY DATA. IN ADDITION, THEY APPROVE THE SALARIES SUGGESTED BY THE CEO FOR HIS DIRECT REPORTS. SALARY REVISIONS WERE BASED ON LOCAL SALARY SURVEYS OBTAINED AND JOB PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WOULD REVIEW EACH REQUEST AND IF DEEMED REASONABLE, PROVIDE COPIES OF THE REQUESTED DATA. FORM 990, PART VIII, LINE 2 NSF REFERS TO NON-SUFFICIENT FUNDS. I.R.C. SECTION 501(Q) DISCLOSURE THE INTERNAL REVENUE SERVICE HAS ESTABLISHED GUIDELINES FOR TAX EXEMPT CREDIT COUNSELING ORGANIZATIONS, WHICH ARE DESCRIBED IN IRC SECTION 501(Q). NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION REVIEWS THESE GUIDELINES EACH YEAR AND VERIFIES THAT IT DOES MEET THE REQUIREMENTS OF IRC SECTION 501(Q), AS FOLLOWS: THE ORGANIZATION PROVIDES CREDIT COUNSELING SERVICES TAILORED TO THE SPECIFIC NEEDS AND CIRCUMSTANCES OF THE CONSUMER; DOES NOT MAKE LOANS TO DEBTORS; PROVIDES ONLY INCIDENTAL SERVICES TO IMPROVE CONSUMER CREDIT RECORDS AND CREDIT HISTORY, AND DOES NOT CHARGE A SEPARATE FEE FOR SUCH SERVICES; DOES NOT REFUSE SERVICES BASED ON ABILITY TO PAY OR INELIGIBILITY/UNWILLINGNESS OF CONSUMER TO ENROLL IN A DEBT MANAGEMENT PLAN ("DMP"); CHARGES REASONABLE FEES AND PROVIDES WAIVERS IF CONSUMER IS UNABLE TO PAY; THE MAJORITY OF THE ORGANIZATION'S BOARD MEMBERS REPRESENT BROAD INTERESTS OF THE PUBLIC AND ARE NOT EMPLOYED BY THE ORGANIZATION OR BENEFIT FROM IT; THE ORGANIZATION DOES NOT HAVE OWNERSHIP IN AN ENTITY THAT IS INVOLVED IN THE CREDIT COUNSELING OR SIMILAR BUSINESS; AND DOES NOT PAY FOR REFERRALS OR RECEIVE AMOUNTS FOR PROVIDING REFERRALS FOR DEBT MANAGEMENT PLANS. IN ADDITION, THE ORGANIZATION DOES NOT SOLICIT CONTRIBUTIONS FROM CONSUMERS DURING THE INITIAL COUNSELING PROCESS, OR WHILE A CONSUMER IS RECEIVING SERVICES FROM ORGANIZATION; AND THE AMOUNT OF REVENUE THE ORGANIZATION RECEIVES FROM ITS CUSTOMERS' CREDITORS ATTRIBUTABLE TO DMP SERVICES DOES NOT EXCEED THE LIMIT OF 50 PERCENT OF TOTAL REVENUES.