2024-11-15T23:07:10-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2023-01-01 611652332 PURSUIT TRANSFORMATION COMPANY INC PURS 3478416090 47-10 AUSTELL PLACE 2ND FLOOR LONG ISLAND CITY NY 11101 YONG KANG CHIEF FINANCIAL OFFICER 3478416090 2024-11-15 1 1 GARRETT M HIGGINS P00543209 2122862600 2024-11-15 2023 2024-10-15 13:58:12Z JUKAY HSU 47-10 AUSTELL PLACE 2ND FLOOR LONG ISLAND CITY NY 11101 10873359 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. 13 11 66 2256 0 0 5695807 9273382 1495560 1301861 550 298116 12 0 7191929 10873359 3863 10000 0 0 6214159 6988243 0 0 618150 2759556 4201877 8977578 11200120 -1785649 -326761 12001089 14042037 8024943 10392652 3976146 3649385 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 8667896 10000 1301861 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. 8667896 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 28 0 66 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 11 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 75.00 X X 335980 0 16498 DAVID YANG CO-FOUNDER CHIEF CREATIVE OFFICER/SECRETARY 60.00 X X 243869 0 22250 JENNIFER HENSLEY CHAIR 15.00 X X 0 0 0 ADAM BELANICH TREASURER 5.00 X X 0 0 0 ALEX ATALLAH DIRECTOR 5.00 X 0 0 0 ELIAS ROMAN DIRECTOR 5.00 X 0 0 0 MICHAEL BOROFSKY DIRECTOR 5.00 X 0 0 0 ALAN JONES DIRECTOR 5.00 X 0 0 0 SOO KIM DIRECTOR 5.00 X 0 0 0 KATY KNIGHT DIRECTOR 5.00 X 0 0 0 STUART SPODEK DIRECTOR 5.00 X 0 0 0 DANIEL TERAN DIRECTOR 5.00 X 0 0 0 PAUL VIZCARRONDO DIRECTOR 5.00 X 0 0 0 CAROLINE OH CHIEF OPERATING OFFICER 40.00 X 291139 0 17298 YONG KANG CHIEF FINANCIAL OFFICER 40.00 X 264288 0 39089 DAVID FOX STERNLIEB GENERAL COUNSEL 40.00 X 198735 0 266965 WILLIAM JAMES KENNEY VP OF PURSUIT PBC STRATEGY 40.00 X 205700 0 5913 AARON JAVON WALTON SR DIRECTOR COMMUNICATIONS 40.00 X 188882 0 15650 JORDAN MANLEY HEAD OF SOFTWARE ENGINEERING 40.00 X 159543 0 21805 MARCUS CORTEZ DIR. OF BUSINESS OPERATIONS 40.00 X 136310 0 11767 2024446 0 417235 32 0 1 0 MARTINEZ RAQUEL 34-56 33RD STREET APARTMENT 1 ASTORIA NY 11106 CONTRACTOR FOR GROWTH & ADMISSIONS 195732 STAGEWELL GLOBAL LLC ONE WORLD TRADE CENTER 69TH FLOOR NEW YORK NY 10007 MARKETING CONSULTING 126000 JOHN GOODMAN 65 WILLOUGHBY AVENUE BROOKLYN NY 11205 INSTRUCTOR CONSULTING 125004 3 504203 8769179 9273382 PURSUIT FELLOWSHIP 900099 1301861 1301861 1301861 298116 298116 10873359 1301861 0 298116 X 10000 10000 1230411 915084 243436 71891 4843351 3806251 769618 267482 91528 68071 18109 5348 306607 228030 60662 17915 516346 387913 77192 51241 35200 31608 2450 1142 63213 56762 4401 2050 36000 36000 1264424 1088843 108031 67550 256102 254963 1139 133492 122677 3745 7070 455725 422227 10613 22885 445361 367032 39855 38474 280684 229665 2087 48932 17701 14483 132 3086 531685 531685 19005 19005 2381 2381 BAD DEBT 565549 565549 REPAIR & MAINTANANCE 58452 48171 5231 5050 STAFF DEVELOPMENT 29947 22981 420 6546 DUES & MEMBERSHIPS 6956 6445 162 349 11200120 8667896 1914074 618150 7446006 10804783 28922 52302 3656188 2748822 73852 66498 510201 506165 21396 4036 140000 140000 634725 225596 12001089 14042037 238125 235371 7275000 10082143 511818 75138 8024943 10392652 X 401737 1082893 3574409 2566492 3976146 3649385 12001089 14042037 -326761 0 X X 0 1 X 1 0 X 5361075 7904207 5288423 5695807 9273382 33522894 5361075 7904207 5288423 5695807 9273382 33522894 4547155 28975739 2634 1801 949 562 298116 304062 2687 2811 5498 33832454 6145716 0.85640 0.56930 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 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 46790 46790 0 377955 373919 4036 85456 85456 0 4036 LEASE LIABILITY 75138 75138 X 11021453 148094 148094 10873359 0 10873359 11348214 148094 148094 11200120 0 11200120 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 2020. 1 CUNY SCHOOL OF PROFESSIONAL STUDIES FOUNDATION INC 119 W 31ST STREET 10TH FLOOR NEW YORK NY 10001 452579691 10000 0 TO SUPPORT THE CREATION OF A BRIDGE PROGRAM BETWEEN NYC'S SUMMER YOUTH EMPLOYMENT PROGRAM AND PURSUIT'S 'LAST-MILE' CAREER TRAINING IN PARTNERSHIP WITH A CUNY COLLEGE. 1 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 DAVID FOX STERNLIEB GENERAL COUNSEL 192735 0 6000 0 0 0 6128 0 260837 0 465700 0 0 0 JUKAY HSU CO-FOUNDER & CEO 326230 0 9750 0 0 0 9900 0 6598 0 352478 0 0 0 CAROLINE OH CHIEF OPERATING OFFICER 282476 0 8663 0 0 0 8636 0 8662 0 308437 0 0 0 YONG KANG CHIEF FINANCIAL OFFICER 256548 0 7740 0 0 0 7910 0 31179 0 303377 0 0 0 DAVID YANG CO-FOUNDER CHIEF CREATIVE OFFICER/SECRETARY 236669 0 7200 0 0 0 4881 0 17369 0 266119 0 0 0 WILLIAM JAMES KENNEY VP OF PURSUIT PBC STRATEGY 200000 0 5700 0 0 0 5913 0 0 0 211613 0 0 0 AARON JAVON WALTON SR DIRECTOR COMMUNICATIONS 182159 0 6723 0 0 0 5512 0 10138 0 204532 0 0 0 JORDAN MANLEY HEAD OF SOFTWARE ENGINEERING 150843 0 8700 0 0 0 4587 0 17218 0 181348 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 2023. 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 2023 AND WAS DOCUMENTED IN THE MINUTES OF THE BOARD MEETING. 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 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G PAYROLL SERVICE FEES: PROGRAM SERVICE EXPENSES 38,584. MANAGEMENT AND GENERAL EXPENSES 11,933. FUNDRAISING EXPENSES 2,956. TOTAL EXPENSES 53,473. CONSULTANTS AND CONTRACTORS: PROGRAM SERVICE EXPENSES 620,872. MANAGEMENT AND GENERAL EXPENSES 54,882. FUNDRAISING EXPENSES 36,825. TOTAL EXPENSES 712,579. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 429,387. MANAGEMENT AND GENERAL EXPENSES 41,216. FUNDRAISING EXPENSES 27,769. TOTAL EXPENSES 498,372. 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.