2024-09-10T13:58:50-05:00 2023-12-31 HAN GROUP LLC 1020 19TH STREET NW SUITE 800 WASHINGTON DC 20036 990 2023-01-01 521761312 COLLEGE BOUND INC COLL 2028420858 128 M STREET NW 220 WASHINGTON DC 20001 TRENEISHA JONES-GASTON BOARD CHAIR 2028420858 2024-09-10 1 1 JENNIFER S HAN P00633304 2022937000 2024-09-10 2023 2024-08-08 14:25:15Z KENNETH A WARD 128 M STREET NW 220 WASHINGTON DC 20001 1275174 0 X WWW.COLLEGEBOUND.ORG X 1991 DC COLLEGE BOUND PREPARES STUDENTS TO GRADUATE COLLEGE AND ACHIEVE PERSONAL AND PROFESSIONAL GOALS. 13 13 10 529 0 0 1182320 1193679 51253 64416 683 791 -27715 -689 1206541 1258197 219385 265125 0 0 562152 553237 0 0 89510 250522 378493 1032059 1196855 174482 61342 731420 879752 57544 124353 673876 755399 X TO PREPARE PUBLIC AND PUBLIC CHARTER SCHOOL STUDENTS IN THE METROPOLITAN WASHINGTON, D.C. AREA TO ENTER COLLEGE, EARN A DEGREE, AND ACHIEVE THEIR PERSONAL AND PROFESSIONAL GOALS. 0 1 997613 265125 64416 COLLEGE BOUND ACCOMPLISHES ITS MISSION BY PROVIDING SUSTAINED TUTORING, MENTORING, AND COLLEGE PREPARATORY ENRICHMENT ACTIVITIES TO OVER 160 STUDENTS IN ITS WEEKLY ACADEMIC MENTORING PROGRAM AND AN ADDITIONAL 250 STUDENTS THROUGH ITS OUTREACH ACTIVITIES. COLLEGE BOUND HAS A PROVEN TRACK RECORD OF SUCCESS FOR STUDENTS IN TERMS OF ACADEMIC PERFORMANCE AND ENTRANCE TO INSTITUTIONS OF HIGHER EDUCATION.COLLEGE BOUND'S MULTI-PRONGED APPROACH TO SUPPORTING STUDENTS HAS BEEN MAKING COLLEGE A REALITY FOR PUBLIC SCHOOL STUDENTS SINCE 1991. ITS ACADEMIC MENTORING PROGRAM MATCHES OVER 200 STUDENTS IN 8TH-12TH GRADE WITH COLLEGE-EDUCATED PROFESSIONALS, WHO BECOME THEIR ACADEMIC MENTORS. PAIRS MEET ONCE WEEKLY FOR TWO HOURS DURING THE SCHOOL YEAR, AT ONE OF SEVEN COMMUNITY-BASED SITES. MENTOR-STUDENT PAIRS ALSO PARTICIPATE IN MONTHLY ACTIVITIES OUTSIDE OF THE SITE TO REINFORCE AND STRENGTHEN THE MENTORING RELATIONSHIP. THROUGH WRITING WORKSHOPS, WRITING COACHES HELP STUDENTS DEVELOP THE WRITING SKILLS NEEDED NOT ONLY FOR COLLEGE APPLICATIONS AND FINANCIAL SCHOLARSHIPS BUT TO COMMUNICATE MORE EFFECTIVELY. WEEKLY JOURNALING IS ALSO AN INTEGRAL PART OF THE AGENDA FOR STUDENTS AND MENTORS AT THE PROGRAM SITES. SAT PREPARATION IS OFFERED TWICE YEARLY AND PROVIDES PARTICIPANTS ACCESS TO A LOW-COST 10-WEEK TEST PREPARATION COURSE TAUGHT BY INDUSTRY PROFESSIONALS. AFTER COMPLETING THE SAT CLASS, STUDENTS ARE ENROLLED THE NEXT SEMESTER IN ONE-ON-ONE SAT TUTORING, WHICH IS TARGETED TO ADDRESS THEIR INDIVIDUAL NEEDS, LEADING TO AVERAGE INCREASES OF 200-300 POINTS ON THE SAT. TWO COLLEGE TOURS, A COLLEGE FAIR, AND CAREER NIGHT/EXPLORATION ARE OFFERED TO EXPAND STUDENTS' AWARENESS OF A COLLEGE EDUCATION AND ITS VALUE. THE FALL TOUR IS A ONE-DAY VISIT TO TWO TO THREE SCHOOLS WITHIN A CERTAIN REGIONAL RADIUS, WHILE THE FOUR-DAY SPRING TOUR IS OVER THE SPRING BREAK, WITH VISITS TO EIGHT TO TEN COLLEGES AND UNIVERSITIES. THE COLLEGE FAIR, WHICH TAKES PLACE IN THE FALL, IS DEVELOPED BY STUDENTS, PARENTS, VOLUNTEERS AND COMMUNITY LEADERS, AND HOSTED BY OUR PARTNERS WHO ATTEND, REPRESENTING THEIR ALMA MATERS. SEVERAL UNIVERSITY REPRESENTATIVES OFFER ONSITE ADMISSIONS OR FEE WAIVERS TO SENIORS. CAREER NIGHT, OUR ANNUAL CAREER FAIR IS HOSTED BY THE UNIVERSITY CLUB FOR 10TH-12TH GRADE STUDENTS WHERE THEY PARTICIPATE IN ROUNDTABLE DISCUSSIONS ON CAREER GOALS AND OPPORTUNITIES THAT EXIST FOR THEM AFTER COLLEGE GRADUATION. BECAUSE OF OUR GROWTH, WE OFFER A SEPARATE CAREER EXPLORATION FOR 8TH AND 9TH GRADERS TO EXPOSE THEM TO A MYRIAD OF CAREER PATHS. BOTH EVENTS FEATURE KEYNOTE SPEAKERS WHO HAVE DISTINGUISHED THEMSELVES IN THEIR CHOSEN CAREER PATHS. TO ADDRESS STUDENTS' INTEREST AND THE NEED TO INCREASE THEIR AWARENESS OF STEM OPTIONS, COLLEGE BOUND OFFERS REMEDIATION AND ENRICHMENT THREE TIMES WEEKLY THROUGH ITS "STEM IN YOUR HOOD" PROGRAM. ADDITIONALLY, STEM PROFESSIONALS MEET WITH STUDENTS MONTHLY DURING "MEDITECH TUESDAYS" TO PROVIDE INSIGHT ON CAREER OPPORTUNITIES IN STEM. WE OFFER SCHOLARSHIPS TO ASSIST OUR STUDENTS WITH FUNDING THEIR EDUCATION, TOTALING MORE THAN $250,000 FOR THE CLASS OF 2023. SCHOLARSHIPS RANGE FROM $200 TO $20,000. FINALLY, OUR VIRTUAL MENTORING PROGRAM (VMP) PROVIDES ALUMNI ACCESS TO SERVICES THAT STUDENTS NEED TO BE SUCCESSFUL AS THEY MATRICULATE THROUGH COLLEGE. THE PROGRAM PROVIDES A "SAFETY NET" TO HELP THEM SUCCEED IN THIS NEW ENVIRONMENT. THE PROGRAM INCLUDES COLLEGE COACHING, COLLEGE TRANSITION SUPPORT, PEER MENTORING, SCHOLARSHIP INFORMATION, AND INTERNSHIPS. EACH FRESHMAN RECEIVES AT LEAST ONE CAMPUS VISIT AND MORE IF THERE IS A NEED. THESE SUPPORTS HELP TO INCREASE COLLEGE RETENTION AND GRADUATION RATES FOR STUDENTS TO ENSURE THEIR SUCCESS. STUDENTS ALSO RETURN TO THE HIGH SCHOOL PROGRAM WHEN THEY ARE BACK HOME TO SHARE THEIR COLLEGE EXPERIENCES WITH CURRENT PROGRAM PARTICIPANTS DURING "ALUMNI WEEK". WE ALSO OFFER WORKSHOPS AND NETWORKING EVENTS FOR VMP PARTICIPANTS DURING THE WINTER AND SUMMER BREAKS. OUR COLLEGE GRADUATION RATES (4-YEAR 60%; 6-YEAR 77%) EXCEED THE NATIONAL AVERAGE FOR ALL STUDENTS AND MORE THAN DOUBLE THOSE FOR THE DEMOGRAPHIC THAT WE ARE SERVING. 997613 1 1 0 0 0 0 0 0 0 0 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 2 0 1 10 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD VA X MICHAEL GRANT 2028420858 128 M STREET NW 220 WASHINGTON DC 20001 TRENEISHA JONES-GASTON BOARD CHAIR 8.00 X X 0 0 0 HELYNN STEPHENS-NELSON BOARD MEMBER; VICE CHAIR (AS OF JUL) 6.00 X X 0 0 0 QUIANA MITCHEM BOARD MEMBER; TREASURER (AS OF JUL) 6.00 X X 0 0 0 SIOBHAN RAUSCH BOARD MEMBER; SECRETARY (AS OF JUL) 6.00 X X 0 0 0 GOUTAM PATNAIK VICE CHAIR(THRU JUL); BOARD MEMBER 4.00 X X 0 0 0 MICHAEL GRANT TREASURER(THRU JUL); BOARD MEMBER 4.00 X X 0 0 0 TRACEY HUGHES SECRETARY(THRU JUL); BOARD MEMBER 4.00 X X 0 0 0 JR CLARK ESQ BOARD MEMBER (THROUGH JUL 2023) 4.00 X 0 0 0 MONICA DAVIS BOARD MEMBER 4.00 X 0 0 0 DJANGO DEGREE BOARD MEMBER 4.00 X 0 0 0 MALINDA LINDSEY BOARD MEMBER 4.00 X 0 0 0 ARCHIE RICH BOARD MEMBER 4.00 X 0 0 0 AMY TITUS BOARD MEMBER 4.00 X 0 0 0 DEBORAH WILLIAMS-LOFTON BOARD MEMBER 4.00 X 0 0 0 KENNETH A WARD EXECUTIVE DIRECTOR 60.00 X 146284 0 22095 146284 0 22095 1 0 1 0 0 10270 4654 20000 1158755 1193679 EVENT INCOME 900099 64416 64416 64416 791 791 16288 4654 16977 -689 -689 1258197 64416 0 102 265125 265125 168379 134703 16838 16838 333839 269041 13182 51616 9261 7446 556 1259 41758 34383 1010 6365 63958 63958 48701 47227 451 1023 1316 1316 16439 9449 5401 1589 9016 8147 265 604 36391 29256 2175 4960 130654 130200 139 315 39811 38290 6 1515 3284 2640 196 448 15929 12805 953 2171 DUES AND SUBSCRIPTIONS 8746 7585 354 807 BAD DEBT 4248 4248 1196855 997613 109732 89510 244423 400345 388582 92976 28845 252231 2000 3367 1552 43454 36715 7873 6739 55592 70652 5781 2738 47476 731420 879752 57544 79274 0 45079 57544 124353 X 12575 169496 661301 585903 673876 755399 731420 879752 61342 20181 0 X X 0 1 X 1 0 X 595538 1014121 1149122 1179320 1193679 5131780 33125 17800 50925 628663 1031921 1149122 1179320 1193679 5182705 1834738 3347967 396 478 571 683 791 2919 3039 6425 9464 5195088 184735 0.64440 0.71350 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 3,039. 2020 AMOUNT: $ 6,425. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. PART II, DESCRIPTION OF THE UPDATED NUMBERS THE FOLLOWING REVENUE AMOUNTS ON SCHEDULE A, PART II HAVE BEEN UPDATED FROM PRIOR 990S IN ORDER TO ACCURATELY REFLECT REVENUE AMOUNTS FROM THEIR RESPECTIVE YEARS. PART II, LINE 1, COLUMN(A), 2019 PART II, LINE 1, COLUMN(D), 2022 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 42362 35623 6739 1092 1092 0 6739 SECURITY DEPOSIT 2738 OPERATING LEASE - RIGHT-OF-USE ASSET 44738 47476 OPERATING LEASE LIABILITY 45079 45079 X 1304845 20181 15835 10632 46648 1258197 0 1258197 1223322 15835 10632 26467 1196855 0 1196855 PART X, LINE 2: THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS OR THAT WOULD HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS. THERE WERE NO UNRECOGNIZED TAX BENEFITS OR LIABILITIES THAT NEEDED TO BE RECORDED. THE ORGANIZATION'S INFORMATION TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS FROM THE DATE THEY WERE FILED, EXCEPT UNDER CERTAIN CIRCUMSTANCES. THE ORGANIZATION'S INFORMATION RETURN FOR THE YEARS ENDED DECEMBER 31, 2020 TO 2022, ARE OPEN FOR A TAX EXAMINATION BY THE INTERNAL REVENUE SERVICE, ALTHOUGH NO REQUEST HAS BEEN MADE AS OF THE DATE OF THESE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: GOLF TOURNAMENT EXPENSES 10,632. PART XII, LINE 2D - OTHER ADJUSTMENTS: GOLF TOURNAMENT EXPENSES 10,632. GOLF TOURNAMENT 20942 4654 16288 753 1000 6561 8664 20942 4654 16288 753 1000 6561 8664 16978 -690 1 COLLEGE SCHOLARSHIPS 107 265125 PART I, LINE 2: ALL SCHOLARSHIPS ARE MONITORED ON A REGULAR BASIS BY TYPE, AMOUNT, AND DATE REQUESTED FOR EACH GRANT. IN ORDER TO RECEIVE FUTURE SCHOLARSHIP DISBURSEMENTS, MINIMUM STANDARDS MUST BE MET BY THE RECIPIENTS. X X X X 0 0 0 0 0 0 0 1 0 KENNETH A WARD EXECUTIVE DIRECTOR 126262 0 20022 0 0 0 0 0 22095 0 168379 0 0 0 PART I, LINE 7 THE EXECUTIVE DIRECTOR WAS PROVIDED A SUPPLEMENTAL BONUS OF $20,022 IN 2023. THE BOARD OF DIRECTORS DECIDES ON BONUSES AND BONUS AMOUNTS BASED ON PERFORMANCE, WHICH IS LINKED TO MEETING BUDGET GOALS. FORM 990, PART III, LINE 3 COLLEGE BOUND HAS COMMENCED A PARTNERSHIP WITH OPEN PARACHUTE TO PROVIDE MENTAL HEALTH SUPPORT FOR STUDENTS. DATA CLEARLY SHOWS THAT POST-COVID, THERE IS AN INCREASE IN ANXIETY AND OTHER MENTAL HEALTH-RELATED CONCERNS FOR STUDENTS AND COLLEGE BOUND IS SEEKING TO ADDRESS THIS NEED FOR ITS STUDENTS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN ACCOUNTING FIRM AND A DRAFT OF THE FORM IS REVIEWED BY MANAGEMENT. THE DRAFT IS THEN DISTRIBUTED BY E-MAIL TO THE ORGANIZATION'S FULL BOARD OF DIRECTORS FOR THEIR REVIEW AND THEN FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, AN OFFICER, DIRECTOR, OR EMPLOYEE MUST DISCLOSE THE EXISTENCE OF HIS OR HER FINANCIAL INTERESTS IN THE ORGANIZATION, INCLUDING BUSINESS AND FAMILY RELATIONSHIPS IN THE ORGANIZATION. EACH OFFICER, DIRECTOR, OR EMPLOYEE IS REQUIRED TO COMPLETE A CONFLICT-OF-INTEREST DISCLOSURE QUESTIONNAIRE ON AN ANNUAL BASIS. ANY POSSIBLE DISCLOSED FINANCIAL INTEREST, OR BUSINESS AND FAMILY RELATIONSHIPS, ARE REVIEWED BY THE COLLEGE BOUND EXECUTIVE DIRECTOR TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. (NOTE THAT A FINANCIAL INTEREST OR BUSINESS AND FAMILY RELATIONSHIP DOES NOT NECESSARILY CONSTITUTE A CONFLICT OF INTEREST.) IF THE PERSON DISCLOSING THE FINANCIAL INTEREST OR EXISTING BUSINESS AND FAMILY RELATIONSHIPS IS A CURRENT MEMBER OF THE EXECUTIVE COMMITTEE, SAID MEMBER SHALL LEAVE THE MEETING ROOM DURING THE DISCUSSION OF, AND THE VOTE ON, WHETHER A CONFLICT OF INTEREST EXISTS. IF THE EXECUTIVE COMMITTEE DETERMINES A CONFLICT OF INTEREST EXISTS, THE EXECUTIVE COMMITTEE SHALL TAKE APPROPRIATE CORRECTIVE OR DISCIPLINARY ACTIONS. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD EXECUTIVE COMMITTEE IS CHARGED WITH OVERSIGHT OF EXECUTIVE COMPENSATION. THE BOARD EXECUTIVE COMMITTEE ESTABLISHES PERFORMANCE METRICS FOR THE EXECUTIVE DIRECTOR. FOLLOWING THE CLOSE OF THE YEAR, THE COMPENSATION COMMITTEE REVIEWS THE RESULTS TO DETERMINE THE OVERALL LEVEL OF PERFORMANCE. A THIRD-PARTY COMPENSATION CONSULTANT IS ENGAGED TO REVIEW MARKET COMPENSATION FOR THE EXECUTIVE DIRECTOR. THE BOARD EXECUTIVE COMMITTEE PROPOSES CHANGES IN COMPENSATION FOR THE EXECUTIVE DIRECTOR BASED ON PERFORMANCE OUTCOMES TO THE FULL BOARD OF DIRECTORS FOR APPROVAL. THE LAST COMPENSATION REVIEW FOR THE EXECUTIVE DIRECTOR WAS PERFORMED IN 2023. FORM 990, PART VI, SECTION B, LINE 15B: THE ORGANIZATION DOES NOT HAVE ANY OFFICERS OR KEY EMPLOYEES OTHER THAN THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.