2023-11-15T21:14:31-06:00 2022-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2022-01-01 611652332 PURSUIT TRANSFORMATION COMPANY INC PURS 3478416090 47-10 AUSTELL PLACE 2ND FLOOR LONG ISLAND CITY NY 11101 YONG KANG CHIEF FINANCIAL OFFICER 3478416090 2023-11-15 1 YONG KANG 999009999 1 GARRETT M HIGGINS P00543209 2122862600 2023-11-15 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JUKAY HSU 47-10 AUSTELL PLACE 2ND FLOOR LONG ISLAND CITY NY 11101 7191929 0 X WWW.PURSUIT.ORG X 2011 NY PURSUIT CREATES TRANSFORMATION WHERE IT'S NEEDED MOST. THROUGH OUR LONG-TERM INTENSIVE PROGRAM, WE TRAIN ADULTS WITH THE MOST NEED AND POTENTIAL TO GET THEIR FIRST TECH JOBS, ADVANCE IN THEIR CAREERS, AND BECOME THE NEXT GENERATION OF LEADERS IN TECH. 14 12 53 0 0 0 5288423 5695807 1564032 1495560 3949 550 0 12 6856404 7191929 20000 3863 0 0 5474809 6214159 0 0 906141 2289576 2759556 7784385 8977578 -927981 -1785649 13294970 12001089 7533175 8024943 5761795 3976146 X THE PURSUIT CORE PROGRAM PROVIDES A PATHWAY OUT OF POVERTY FOR ITS PARTICIPANTS BY GIVING THEM THE SKILLS NECESSARY TO GAIN EMPLOYMENT AS SOFTWARE ENGINEERS THROUGH AN INTENSIVE CLASS THAT INCLUDES 12 MONTHS OF TECHNICAL TRAINING AND JOB READINESS TRAINING PROVIDED UPON COMPLETION OF THE PROGRAM. IN ADDITION TO TEACHING PROGRAMMING SKILLS, THE PROGRAM PROVIDES JOB PLACEMENT ASSISTANCE AND INDUSTRY READINESS THROUGH MOCK INTERVIEWS AND RESUME BUILDING WORKSHOPS, SITE VISITS TO LOCAL TECH COMPANIES, NETWORKING EVENTS, AND OTHER ACTIVITIES. IN PERSON SERVICE HAS BEEN TRANSITIONED TO ONLINE DUE TO PANDEMIC. THE PURSUIT CAMPUS REMAINS REOPEN FOR STUDENTS TO BE ABLE TO COME TO WORK AND LEARN, IF THEY WISH, THOUGH ALL PROGRAMMING WILL BE ACCESSIBLE ONLINE. 0 0 6858576 3863 1495560 THROUGH A FOUR-YEAR INTENSIVE PROGRAM, WE TRAIN ADULTS WITH THE MOST ECONOMIC NEED AND POTENTIAL TO GET THEIR FIRST TECH JOBS, ADVANCE IN THEIR CAREERS, AND BECOME THE NEXT GENERATION OF LEADERS IN TECH. IN ADDITION TO PROVIDING TRAINING AND CAREER SUPPORT, OUR INNOVATIVE OPERATING MODEL COMBINES PARTNERSHIPS WITH TECH COMPANIES TO RETRAIN THEIR BLUE-COLLAR WORKERS AND SOCIAL IMPACT INVESTMENTS TO RE-ENVISION FUNDING FOR OUTCOMES-BASED ORGANIZATIONS. BY CONNECTING TALENT WITH OPPORTUNITY, WE EMPOWER GRADUATES TO BRING CHANGE TO THEIR FAMILIES, TECH COMPANIES, AND COMMUNITIES ACROSS THE NATION. 6858576 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 12 0 53 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X YONG KANG 6468126417 47-10 AUSTELL PLACE 2ND FLOOR LONG ISLAND CITY NY 11101 JUKAY HSU CO-FOUNDER & CEO 40.00 X X 320673 0 9483 DAVID YANG CO-FOUNDER CHIEF CREATIVE OFFICER/SEC 40.00 X X 231986 0 20506 JENNIFER HENSLEY CHAIR 1.50 X X 0 0 0 ADAM BELANICH TREASURER 1.50 X X 0 0 0 ELIAS ROMAN DIRECTOR 2.50 X 0 0 0 MICHAEL BOROFSKY DIRECTOR 1.50 X 0 0 0 STEVE BRILL DIRECTOR 1.50 X 0 0 0 ALEX FINERMAN DIRECTOR 1.50 X 0 0 0 ALAN JONES DIRECTOR 1.50 X 0 0 0 SENATOR BOB KERREY DIRECTOR 1.50 X 0 0 0 SOO KIM DIRECTOR 1.50 X 0 0 0 KATY KNIGHT DIRECTOR 1.50 X 0 0 0 JASON MILLER DIRECTOR (THRU APR 2021) 0.50 X 0 0 0 STUART SPODEK DIRECTOR 1.50 X 0 0 0 DANIEL TERAN DIRECTOR 1.50 X 0 0 0 CAROLINE OH CHIEF OPERATING OFFICER 40.00 X 287008 0 7416 YONG KANG CHIEF FINANCIAL OFFICER 40.00 X 205248 0 31841 DAVID FOX STERNLIEB GENERAL COUNSEL 40.00 X 187478 0 30484 SUNDAR JAYABOSE GENERAL MANAGER 40.00 X 250248 0 8 WILLIAM JAMES KENNEY VP OF PURSUIT PBC STRATEGY & OPERATIONS 40.00 X 189880 0 128 LILLIAN JANE SCHENCK DIRECTOR OF CORE PROGRAMS 40.00 X 162462 0 8965 AARON JAVON WALTON SR DIRECTOR COMMUNICATIONS 40.00 X 148102 0 7528 1983085 0 116359 21 0 1 0 MARTINEZ RAQUEL 34-56 33RD ST APT1 ASTORIA NY 11106 CONTRACTOR FOR GROWTH & ADMISSIONS 164000 1 830576 4865231 5695807 PURSUIT FELLOWSHIP 900099 1495560 1495560 1495560 550 550 OTHER INCOME 900099 12 12 12 7191929 1495560 0 562 3863 3863 1114161 896799 162175 55187 4208405 3303437 578240 326728 123874 99707 18031 6136 254894 205167 37102 12625 512825 419150 62277 31398 425 359 60 6 48403 40878 6815 710 36000 36000 509571 449819 37713 22039 366168 366168 119168 103807 450 14911 404252 373820 11383 19049 448508 344664 46229 57615 154164 133028 7174 13962 23134 19962 1077 2095 343219 343219 56288 56288 2272 2272 BAD DEBT 240263 240263 STAFF DEVELOPMENT 7721 5660 1600 461 8977578 6858576 1212861 906141 7866485 7446006 2262340 28922 2688174 3656188 103837 73852 508556 487160 79084 21396 140000 140000 155050 634725 13294970 12001089 185658 238125 7300000 7275000 47517 511818 7533175 8024943 X 3144609 401737 2617186 3574409 5761795 3976146 13294970 12001089 -1785649 0 X X 0 1 X 1 0 X 5793653 5361075 7904207 5288423 5695807 30043165 5793653 5361075 7904207 5288423 5695807 30043165 12918780 17124385 1752 2634 1801 949 562 7698 22635 2687 2811 28133 30078996 5258589 0.56930 0.73710 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2018 AMOUNT: $ 22,635. 2019 AMOUNT: $ 2,687. 2020 AMOUNT: $ 2,811. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 36000 0 0 36000 0 PART II-B, LINE 1: THE ORGANIZATION ENGAGED A GOVERNMENT RELATIONS AND PUBLIC AFFAIRS CONSULTING FIRM FOR LEGISLATIVE AND REGULATORY REPRESENTATION IN THE CITY OF NEW YORK. 46790 16592 30198 376310 398660 -22350 85456 71908 13548 21396 RIGHT OF USE ASSET 479675 SECURITY DEPOSIT 155050 634725 LEASE LIABILITY 511818 511818 X 7340329 148400 148400 7191929 0 7191929 9125978 148400 148400 8977578 0 8977578 PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR TAX YEARS PRIOR TO 2019. 0 PART I, LINE 2: EMERGENCY FUNDS FOR PURSUIT FELLOWS IS A ONE-TIME ASSISTANCE TO FELLOWS OF THE ORGANIZATION. FELLOWS APPLIED FOR ASSISTANCE VIA AN APPLICATION PROVIDED BY THE ORGANIZATION. APPLICATIONS WERE ANONYMOUSLY REVIEWED BY MEMBERS OF THE ORGANIZATION'S EMERGENCY RELIEF FUND COMMITTEE. DECISIONS REGARDING AWARDS OF ASSISTANCE WERE COMMUNICATED WITHIN ONE WEEK OF APPLICATION, AND IF APPROVED, A SHORT FORM WAS USED TO GATHER FURTHER INFORMATION. THE MAXIMUM AMOUNT OF EMERGENCY CASH ASSISTANCE PROVIDED TO A FELLOW WAS $500. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 JUKAY HSU CO-FOUNDER & CEO 320673 0 0 0 0 0 0 0 9483 0 330156 0 0 0 CAROLINE OH CHIEF OPERATING OFFICER 287008 0 0 0 0 0 0 0 7416 0 294424 0 0 0 DAVID YANG CO-FOUNDER CHIEF CREATIVE OFFICER/SEC 231986 0 0 0 0 0 0 0 20506 0 252492 0 0 0 SUNDAR JAYABOSE GENERAL MANAGER 250248 0 0 0 0 0 0 0 8 0 250256 0 0 0 YONG KANG CHIEF FINANCIAL OFFICER 205248 0 0 0 0 0 0 0 31841 0 237089 0 0 0 DAVID FOX STERNLIEB GENERAL COUNSEL 187478 0 0 0 0 0 0 0 30484 0 217962 0 0 0 WILLIAM JAMES KENNEY VP OF PURSUIT PBC STRATEGY & OPERATI 189880 0 0 0 0 0 0 0 128 0 190008 0 0 0 LILLIAN JANE SCHENCK DIRECTOR OF CORE PROGRAMS 162462 0 0 0 0 0 0 0 8965 0 171427 0 0 0 AARON JAVON WALTON SR DIRECTOR COMMUNICATIONS 148102 0 0 0 0 0 0 0 7528 0 155630 0 0 0 PART I, LINE 1A THE ORGANIZATION'S CEO MAINTAINS A MEMBERSHIP AT THE HARVARD BUSINESS SCHOOL CLUB OF NEW YORK FOR BUSINESS DEVELOPMENT PURPOSES. THE EXPENSE IS AN ORDINARY AND NECESSARY BUSINESS EXPENSE OF THE ORGANIZATION, AND IS THEREFORE TREATED AS NONTAXABLE TO HIM UNDER IRC SECTION 132. PART I, LINE 7 THE ORGANIZATION PAID A ONE-TIME BOARD APPROVED BONUS IN 2021. X LEGAL SERVICES 138910 0 INVOICE X ADVERTISING SERVICES 7490 0 EMAIL X TRANSPORATION 2000 0 EMAIL CONFIRMATION 0 0 0 FORM 990, PART V, LINE 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 B, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT AND A COPY OF THE RETURN IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST DISCLOSURE STATEMENT IS FURNISHED ANNUALLY TO THE BOARD BY EACH DIRECTOR AND OFFICER. THE DISCLOSURE STATEMENTS ARE REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS OR BY A COMMITTEE THEREOF. IN ADDITION, EACH DIRECTOR, AND OFFICER MUST REPORT PROMPTLY TO THE CHAIR OF THE BOARD ANY POTENTIAL CONFLICT OF INTEREST AS AND WHEN IT ARISES. ALL QUESTIONS AS TO WHETHER A CONFLICT OF INTEREST EXISTS WILL BE RESOLVED BY A VOTE OF THE BOARD OF DIRECTORS IN WHICH THE INTERESTED INDIVIDUAL MAY NOT VOTE. SUCH MATTERS INVOLVING THE EXISTENCE OF CONFLICTS OF INTEREST ARE TO BE DOCUMENTED IN THE MINUTES OF THE GOVERNING BOARD. THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS OR COMMITTEE THEREOF WILL REFLECT (A) THAT THE CONFLICT OF INTEREST WAS DISCLOSED, (B) THAT THE INTERESTED DIRECTOR OR OFFICER WAS NOT PRESENT DURING THE FINAL DISCUSSION OR VOTE OF THE BOARD OF DIRECTORS OR COMMITTEE, AND (C) THAT THE INTERESTED INDIVIDUAL ABSTAINED FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO AND ALL OTHER OFFICERS (CHIEF CREATIVE OFFICER, CHIEF FINANCIAL OFFICER, AND CHIEF OPERATING OFFICER) IS DETERMINED BY THE COMPENSATION COMMITTEE USING AVAILABLE COMPARATIVE MARKET DATA OF EXECUTIVES AT SIMILAR-SIZED NOT-FOR-PROFIT AND GROWTH TECHNOLOGY ORGANIZATIONS IN THE NEW YORK AREA. THE PROCESS WAS LAST CONDUCTED IN 2021 AND WAS DOCUMENTED IN THE MINUTES OF THE BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.