2024-08-28T14:15:34-05:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2023-01-01 133248876 THE OLIVER SCHOLARS PROGRAM INC OLIV 2124305980 14 WALL STREET 1720 NEW YORK NY 10005 DR DANIELLE R MOSS-COX CEO 2124305980 2024-08-28 1 1 EVA MRUK P00543254 2122862600 2024-08-28 2023 2024-08-08 14:25:15Z DR DANIELLE R MOSS-COX 14 WALL STREET 1720 NEW YORK NY 10005 10884826 0 X WWW.OLIVERSCHOLARS.ORG X 1984 NY TO PREPARE HIGH-ACHIEVING AFRICAN-AMERICAN AND LATINO STUDENTS FOR SUCCESS. WE PROVIDE CRUCIAL SUPPORT FOR OUR SCHOLARS SO THAT THEY CAN REALIZE THEIR FULL POTENTIAL AND ULTIMATELY GIVE BACK TO THE CITY, THE NATION, AND THE WORLD. 20 20 59 107 0 0 1384024 1726072 0 0 443991 869280 -68122 -101145 1759893 2494207 30750 6750 0 0 2787477 2948989 0 0 598250 1564884 1883877 4383111 4839616 -2623218 -2345409 22138534 26867473 438041 5406901 21700493 21460572 X OLIVER SCHOLARS PREPARES HIGH-ACHIEVING BLACK AND LATINO STUDENTS FROM UNDERSERVED NEW YORK CITY COMMUNITIES FOR SUCCESS AT TOP INDEPENDENT SCHOOLS AND PRESTIGIOUS COLLEGES. WE PROVIDE CRUCIAL SUPPORT FOR OUR SCHOLARS SO THEY CAN REALIZE THEIR FULL POTENTIAL AND ULTIMATELY GIVE BACK TO THE CITY, THE NATION, AND THE WORLD. 0 0 1279182 6750 SCHOLAR IMMERSION PROGRAM: THE SCHOLAR IMMERSION PROGRAM, ALSO KNOWN AS SIP, IS A 14-MONTH ACADEMIC AND SOCIAL ENRICHMENT PROGRAM INTENDED TO GIVE STUDENTS THE ACADEMIC, STUDY, AND SOCIAL SKILLS THEY WILL NEED TO BE SUCCESSFUL AT RIGOROUS HIGH SCHOOLS. STUDENTS ATTEND THE PROGRAM FOR TWO 6-WEEK SUMMER SESSIONS AND A YEAR OF SATURDAY CLASSES. THE SUMMER PROGRAM INCLUDES ONE-WEEK OF RESIDENTIAL PROGRAMMING AT A PARTNER BOARDING SCHOOL TO GIVE STUDENTS EXPOSURE TO THAT EXPERIENCE AND TO DEEPEN CONNECTIONS ACROSS THEIR COHORTS. 1099000 SCHOLAR SERVICES: ONCE OUR SCHOLARS MATRICULATE AT COMPETITIVE HIGH SCHOOLS, THEY CONTINUE TO RECEIVE SUPPORT FROM THE OLIVER SCHOLARS SCHOLAR SERVICES TEAM. EVERY SCHOLAR ATTENDING AN INDEPENDENT BOARDING SCHOOL RECEIVES 1-2 ON-CAMPUS VISITS FROM A MEMBER OF OUR TEAM. WE MONITOR HOW STUDENTS ARE ADJUSTING ACADEMICALLY AND SOCIALLY AND MEET WITH SCHOOL OFFICIALS TO ENSURE THAT STUDENTS HAVE THE SUPPORT THEY NEED TO THRIVE. OUR PUBLIC HIGH SCHOOL SCHOLARS ATTEND PROGRAMMING ONCE A MONTH TO STAY CONNECTED AND RECEIVE THE SAME ACADEMIC AND SOCIAL SUPPORT AS THEIR INDEPENDENT SCHOOL COHORTS. SIGNATURE ACTIVITIES INCLUDE AN ANNUAL COMMUNITY SERVICE DAY AND OUR ANNUAL STUDENT CONFERENCE, IN OUR OWN VOICES. ADDITIONALLY, OUR HIGH SCHOOL STUDENTS AND THEIR FAMILIES RECEIVE ONGOING COLLEGE COUNSELING, COLLEGE VISITS, COLLEGE ESSAY REVIEWS, AND FINANCIAL AID GUIDANCE. AND WE CONTINUE TO SUPPORT THEM VIA ACCESS TO INTERNSHIPS AND MENTORS ONCE THEY MATRICULATE AT COLLEGE - WHERE WE CONTINUE TO PROVIDE FINANCIAL AID AND TRANSFER SUPPORT. 1083424 ADMISSIONS & PLACEMENT: OUR ADMISSIONS AND PLACEMENT PROGRAM IS FOCUSED ON DEVELOPING TRUSTING RELATIONSHIPS WITH MIDDLE SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS ACROSS THE FIVE BOROUGHS OF NEW YORK CITY TO IDENTIFY HIGH-ACHIEVING BLACK AND LATINX 7TH GRADERS FOR PARTICIPATION IN THE OLIVER SCHOLARS PROGRAM. WE HOST ADMISSIONS INFORMATION SESSIONS ACROSS THE CITY TO EDUCATE FAMILIES ABOUT THE EDUCATION OPTIONS AVAILABLE TO THEIR HIGH POTENTIAL STUDENTS. ONCE ADMITTED, THESE STUDENTS HAVE ACCESS TO OUR SIGNATURE SCHOLAR IMMERSION PROGRAM AND HIGH SCHOOL APPLICATION SUPPORT FROM OUR PLACEMENT TEAM FOR INDEPENDENT DAY, BOARDING SCHOOLS AND COMPETITIVE PUBLIC HIGH SCHOOLS. THE PLACEMENT TEAM DEVELOPS STRONG PARTNERSHIP RELATIONSHIPS WITH OUR INDEPENDENT CONSORTIUM SCHOOLS IN THE CITY AND ACROSS THE COUNTRY TO ENSURE OUR SCHOLARS HAVE THE SUPPORT AND FINACIAL AID THEY NEED TO SUCCEED IN HIGH SCHOOL. 213558 THE GOAL OF THE COLLEGE BOUND INITIATIVES DEPARTMENT IS TO LEAD THE COLLEGE SEARCH AND APPLICATION PROCESS, INSPIRE SCHOLARS TO SEEK "BEST FIT" COLLEGES, COLLABORATE WITH INDEPENDENT SCHOOL COUNSELORS, EDUCATE AND PREPARE FAMILIES FOR THE TRANSITION TO COLLEGE. WHILE SCHOLARS RECEIVE INTENSIVE SUPPORT SPECIFICALLY GEARED TOWARD PREPARING THEM FOR THE COLLEGE APPLICATION PROCESS BEGINNING IN THEIR JUNIOR YEAR, OLIVER IS INTENTIONAL IN CREATING A COLLEGE-GOING CULTURE AND BUILDING COLLEGE READINESS SKILLS BEGINNING IN MIDDLE SCHOOL THROUGH HIGH SCHOOL. 213558 3675164 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 23 0 59 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 20 20 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 NY X X ZACHE DESIRE 2124305980 14 WALL STREET 1720 NEW YORK NY 10005 DOROTHEA SCHLOSSER CHAIR 2.00 X X 0 0 0 LOUISA TROUBH VICE CHAIR 2.00 X X 0 0 0 KEITH CANTON SECRETARY 2.00 X X 0 0 0 GUSTAVO SCHWED TREASURER 2.00 X X 0 0 0 TERRY-ANN BURRELL TRUSTEE 0.50 X 0 0 0 NICHOLAS DOERING-DORIVAL TRUSTEE 0.50 X 0 0 0 ERIC EPSTEIN TRUSTEE 0.50 X 0 0 0 JONATHAN FOX TRUSTEE 0.50 X 0 0 0 DIVKAR GUPTA TRUSTEE 0.50 X 0 0 0 JAKY JOSEPH TRUSTEE 0.50 X 0 0 0 MICHAEL KESSLER TRUSTEE 0.50 X 0 0 0 DON LEMON TRUSTEE 0.50 X 0 0 0 DR LISA LONG TRUSTEE 0.50 X 0 0 0 ADRIAN MILLAN TRUSTEE 0.50 X 0 0 0 VICTOR NUNEZ TRUSTEE 0.50 X 0 0 0 RAINA OBEROI TRUSTEE 0.50 X 0 0 0 EDWARD OLANOW TRUSTEE 0.50 X 0 0 0 YVONNE QUINN TRUSTEE 0.50 X 0 0 0 SHIRLEY RUMIERK TRUSTEE 0.50 X 0 0 0 BASIL SMIKLE TRUSTEE 0.50 X 0 0 0 DR DANIELLE R MOSS-COX CEO 35.00 X 294959 0 69809 GABRIELLE GILLIAM CHIEF DEVELOPMENT OFFICER 35.00 X 159911 0 29513 DR DEIDRE FRANKLIN CHIEF PROGRAM & EQUITY OFFICER 35.00 X 151067 0 12873 SHARON STURRUP CHIEF OPERATIONS OFFICER 35.00 X 113868 0 31888 MARK HALL - CHIEF ENROLLMENT AND ACADEMIC OFFICER 35.00 X 144938 0 13472 864743 0 157555 5 0 1 0 DESIRE & COMPANY CPAS PLLC 405 RXR PLAZA UNIONDALE NY 11556 CFO SERVICES 116250 1 821736 904336 12391 1726072 545075 545075 8432270 8108065 324205 324205 324205 180699 821736 282554 -101855 -101855 OTHER INCOME 900099 710 710 710 2494207 0 0 768135 6750 6750 554192 255338 109430 189424 1875034 1607619 60316 207099 54931 49850 709 4372 239730 205877 5369 28484 225102 175129 14518 35455 115050 89484 25566 3645 3645 34270 34270 110559 110559 223378 156117 60095 7166 31522 31522 161309 115062 29843 16404 195868 158330 22257 15281 599820 466532 38723 94565 118267 118267 24958 18117 6841 2316 2316 69088 57216 11872 82059 63824 18235 MOVING EXPENSES 50193 38649 11544 PROGRAM EVENTS 21766 21766 STAFF DEVELOPMENT 20037 20037 FOOD 13230 13230 6542 6448 94 4839616 3675164 566202 598250 1011524 114122 343063 188714 167124 315571 95588 176723 638958 492970 54111 145988 20189028 21062569 278096 4863786 22138534 26867473 276183 270199 161858 5136702 438041 5406901 X 8102703 10315373 13597790 11145199 21700493 21460572 22138534 26867473 X -2345409 2111488 -6000 X X 0 1 X 1 0 X 777699 931379 943882 1384024 1726072 5763056 777699 931379 943882 1384024 1726072 5763056 242457 5520599 640236 610814 500126 446381 545075 2742632 1841 1841 34823 1575 527 710 37635 8545164 0.64600 0.62700 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 34,823. 2020 AMOUNT: $ 1,575. 2021 AMOUNT: $ 527. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 710. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 792886 49909 842795 864421 34770 -106305 792886 798953 65146 43069 42747 864421 1132368 84894 418309 798953 1414261 205832 55802 543527 1132368 0.48100 0.45980 0.05920 0 0 246607 246607 0 392351 246363 145988 145988 OPERATING LEASE 4863786 4863786 OPERATING LEASE LIABLILITES 5080465 FINANCE LEASE LIABLITIES 56237 5136702 X 4495136 2111488 2111488 2383648 110559 110559 2494207 4735057 6000 6000 4729057 110559 110559 4839616 PART V, LINE 4: BOARD DESIGNATED FUNDS ARE RESERVED BY THE BOARD OF TRUSTEES TO PROVIDE LONG-TERM FINANCIAL SUPPORT FOR THE OLIVER PROGRAM. THE OLIVER PROGRAM'S SPENDING POLICY IS TO DISTRIBUTE AS MUCH OF THE ANNUAL RETURN GENERATED IN ORDER TO COVER A PORTION OF THE OPERATING EXPENSES FOR THE CORE PROGRAM IN A GIVEN YEAR. THE OLIVER PROGRAM'S DONOR DESIGNATED ENDOWMENT CONSISTS OF VARIOUS INDIVIDUAL GIFTS ESTABLISHED PRIMARILY TO SUPPORT THE MISSION OF THE OLIVER PROGRAM. PART X, LINE 2: THE OLIVER PROGRAM RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. MANAGEMENT HAS DETERMINED THAT THERE WERE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE OLIVER PROGRAM IS NO LONGER SUBJECT TO AUDITS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2020. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON UNCOLLECTIBLE PLEDGES 6,000. GALA 2023 1002435 821736 180699 9360 97089 21086 155019 1002435 821736 180699 9360 97089 21086 155019 282554 -101855 1 SCHOLAR IMMERSION AND PLACEMENT AWARDS 20 6750 PART I, LINE 2: SCHOLAR IMMERSION AND PLACEMENT (SIP) AWARDS - STUDENTS THAT EXCEL IN THE ORGANIZATION'S SIP PROGRAM, ARE AWARDED FOR THEIR ACCOMPLISHMENTS. X X X 0 0 0 0 0 0 0 1 0 DR DANIELLE R MOSS-COX CEO 278121 0 15637 0 1201 0 14149 0 55660 0 364768 0 0 0 GABRIELLE GILLIAM CHIEF DEVELOPMENT OFFICER 153780 0 5942 0 189 0 7725 0 21788 0 189424 0 0 0 DR DEIDRE FRANKLIN CHIEF PROGRAM & EQUITY OFFICER 145000 0 5577 0 490 0 1397 0 11476 0 163940 0 0 0 MARK HALL - CHIEF ENROLLMENT AND ACADEMIC OFFICER 139190 0 5577 0 171 0 7139 0 6333 0 158410 0 0 0 PART I, LINE 7 THE ORGANIZATION AWARDED DISCRETIONARY BONUSES TO PERSONS LISTED ON PART VII OF THE 990. FORM 990, PART I, QUESTION 5, AND PART V, QUESTION 2A THE ORGANIZATION CONTRACTED WITH A PROFESSIONAL EMPLOYER ORGANIZATION (PEO) FOR SERVICES, INCLUDING BUT NOT LIMITED TO, PAYROLL, TIMEKEEPING, EMPLOYEE BENEFITS, HR ADMINISTRATION AND WORKFORCE REGULATORY COMPLIANCE NEEDS. AS THE EMPLOYER OF RECORD FOR TAX PURPOSES, FORMS W-2 AND W-3 ARE ISSUED BY THE PEO AND FILED UNDER THE PEO'S FEDERAL EIN. IN THIS CO-EMPLOYMENT ARRANGEMENT, THE ORGANIZATION IS THE COMMON LAW EMPLOYER AND, ACCORDINGLY, COMPENSATION IS REPORTED ON FORM 990, PART VII, SECTION A AND PART IX, LINES 5-10. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION ENGAGED DESIRE & COMPANY, CPAS PLLC TO PROVIDE CFO SERVICES. THE DUTIES OF THE CFO INCLUDED BUDGETING AND PLANNING, GRANT REPORTING, AND OTHER FINANCIAL REPORTING TO THE CEO AND BOARD. FEES PAID TO DESIRE & COMPANY FOR CFO SERVICES IN 2023 TOTALED, $116250. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT DOCUMENT THE MEETINGS HELD OR WRITTEN ACTIONS UNDERTAKEN BY THE COMMITTEES OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM. IT IS THEN REVIEWED AND APPROVED BY THE ORGANIZATION'S CEO, OUTSOURCED CFO AND THE FINANCE COMMITTEE OF THE BOARD. A COMPLETE COPY OF THE FORM 990 IS ALSO PROVIDED TO ALL MEMBERS OF THE ORGANIZATION'S GOVERNING BODY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY WHICH APPLIES TO ALL TRUSTEES, OFFICERS, AND EMPLOYEES OF THE ORGANIZATION OF THE OLIVER SCHOLAR'S PROGRAM, INC. (THE ORGANIZATION). EVERY DIRECTOR, OFFICER, AND EMPLOYEE SHALL FULLY DISCLOSE TO THE ORGANIZATION THE EXISTENCE OF ANY POTENTIAL CONFLICT OF INTEREST AS SOON AS THEY BECOME AWARE OF THE SITUATION. THE ORGANIZATION SHALL OFFER THE INDIVIDUAL THE OPPORTUNITY TO MAKE A PRESENTATION OR OTHERWISE DISCLOSE ALL MATERIAL FACTS OF THE MATTER TO THE AUDIT COMMITTEE. AFTER THE DISCLOSURE OF A POTENTIAL CONFLICT OF INTEREST AND UPON DUE CONSIDERATION OF THE FACTS, THE AUDIT COMMITTEE, IN CONSULTATION WITH THE BOARD CHAIR, SHALL DETERMINE WHETHER OR NOT A CONFLICT OF INTEREST EXISTS. IF IT DOES EXIST, THE AUDIT COMMITTEE SHALL, AFTER ANY NECESSARY INVESTIGATION AND DUE CONSIDERATION, AND UPON THE MAJORITY VOTE OF ITS MEMBERS, TAKE ANY APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION WITH RESPECT TO THE CONFLICT OF INTEREST AND THE INDIVIDUAL SUBJECT TO THAT CONFLICT. THE INDIVIDUAL WITH THE POTENTIAL CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN, NOR BE PRESENT DURING, ANY DISCUSSION OR VOTE REGARDING THE MATTER, EXCEPT TO MAKE A PRESENTATION OR OTHERWISE DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. THE AUDIT COMMITTEE SHALL KEEP AND MAINTAIN MINUTES OF ALL MEETINGS DEALING WITH INVESTIGATING AND RESOLVING ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE (AN EMPLOYEE WHO IS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE ORGANIZATION) SHALL ANNUALLY, AND AT ANY TIME WHEN THERE HAS BEEN A CHANGE FROM THE PREVIOUSLY PROVIDED STATEMENT, COMPLETE, SIGN, AND SUBMIT TO THE SECRETARY OF THE ORGANIZATION A WRITTEN ANNUAL DISCLOSURE STATEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S FINANCE COMMITTEE IS RESPONSIBLE FOR THE DETERMINATION OF THE SALARIES OF THE CHIEF EXECUTIVE OFFICER (CEO) AND OTHER KEY EMPLOYEES OF THE ORGANIZATION, USING A VARIETY OF INFORMATION AND STUDIES THAT ARE AVAILABLE. SALARIES OF COMPARABLE NONPROFITS 990'S ARE REVIEWED TO DETERMINE THE REASONABLENESS OF THE SALARIES OF THE CEO AND DIRECTORS. AS A PART OF THE ANNUAL BUDGET PROCESS, THE CEO AND DIRECTORS' SALARIES ARE REVIEWED AND APPROVED BY THE FINANCE COMMITTEE. THE PROCESS IS CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES AND WAS LAST CONDUCTED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON NEW YORK STATE ATTORNEY GENERAL AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE ORGANIZATION'S FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: LOSS ON UNCOLLECTIBLE PLEDGES -6,000. FORM 990, PART XII, LINE 2C: THE OLIVER SCHOLARS PROGRAM, INC. AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.