2024-04-15T14:07:56-05:00 2023-05-31 910189318 MOSS ADAMS LLP 101 SECOND STREET SUITE 900 SAN FRANCISCO CA 94105 990 2022-06-01 940948140 BERKELEY STUDENT COOPERATIVE INC BERK 5108481936 2424 RIDGE ROAD BERKELEY CA 94709 AMY HINES-SHAIKH INTERIM EXECUTIVE DIRECTOR 5108481936 2024-04-12 1 AMY HINES-SHAIKH 999009999 0 MICHAEL LUMSDEN P01262236 4159561500 2024-04-12 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z AMY HINES-SHAIKH 2424 RIDGE ROAD BERKELEY CA 94709 10499027 0 X WWW.BSC.COOP X 1934 CA TO PROVIDE A QUALITY, LOW COST, COOPERATIVE HOUSING COMMUNITY TO UNIVERSITY STUDENTS WHO OTHERWISE MIGHT NOT BE ABLE TO AFFORD A UNIVERSITY EDUCATION. 25 10 59 1200 0 0 419699 190531 11209140 9804863 0 361692 112913 141941 11741752 10499027 104151 100300 0 0 3709949 4485695 0 0 372462 4338976 4577960 8153076 9163955 3588676 1335072 63591156 62005892 19564720 20155303 44026436 41850589 TO PROVIDE A QUALITY, LOW-COST, COOPERATIVE HOUSING COMMUNITY TO UNIVERSITY STUDENTS, THEREBY PROVIDING AN EDUCATIONAL OPPORTUNITY FOR STUDENTS WHO MIGHT NOT OTHERWISE BE ABLE TO AFFORD A UNIVERSITY EDUCATION. 0 0 7248399 100300 9804863 THE BERKELEY STUDENT COOPERATIVE (BSC) IS A NONPROFIT HOUSING COOPERATIVE PROVIDING AFFORDABLE HOUSING AND BOARD TO STUDENTS AT UC BERKELEY AND OTHER BAY AREA COLLEGES AND UNIVERSITIES. BSC HAS APPROXIMATELY 1,300 STUDENT MEMBERS LIVING IN OR EATING AT OUR SEVENTEEN HOUSES AND THREE APARTMENT COOPERATIVES AROUND THE UC BERKELEY CAMPUS. EACH HOUSE IS DEMOCRATICALLY RUN, WHERE ALL MEMBERS CONTRIBUTE LABOR TO KEEP HOUSING COSTS AFFORDABLE. 7248399 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 34 0 1 59 1 0 0 0 0 0 0 0 0 0 0 0 0 X 25 10 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CA X X JUHANDRYN DESSAMES 5105495959 2424 RIDGE ROAD BERKELEY CA 94709 TOMI CHUNG PRESIDENT 5.00 X X 0 0 0 NINOA KAMANGAR VP OF EXTERNAL AFFAIRS 5.00 X X 0 0 0 LIZA MAMEDOV-TURCHINSKY VP OF INTERNAL AFFAIRS 5.00 X X 0 0 0 EVELYN ARROYO BOARD DIRECTOR / VP OF CAPITAL & FINANCE START 1/2 5.00 X X 0 0 0 VICENTE GONZALEZ VP OF CAPITAL & FINANCE THRU 1/2023 / BOARD DIR 5.00 X X 0 0 0 FRANCESCA MEJIA VP OF EXPERIENCE & TRAINING 5.00 X X 0 0 0 MAAN ALTHINAYYAN BOARD DIRECTOR THRU 12/2022 1.00 X 0 0 0 JIM AUSMAN ALUMNI ASSOCIATION BOARD DIRECTOR 1.00 X 0 0 0 DAHLIA BEKONG BOARD DIRECTOR 1.00 X 0 0 0 BONNIE BUSH BOARD DIRECTOR THRU 2/2023 1.00 X 0 0 0 ANTHONY CARRASCO BOARD DIRECTOR THRU 12/2022 1.00 X 0 0 0 ELLIE CAWTHON BOARD DIRECTOR 1.00 X 0 0 0 JENNI CHACON-DURAN BOARD DIRECTOR 1.00 X 0 0 0 DANE CRUZ BOARD DIRECTOR THRU 12/2022 1.00 X 0 0 0 VESTRI DI SILVESTRI BOARD DIRECTOR 1.00 X 0 0 0 ROBERTO GARCIA BOARD DIRECTOR 1.00 X 0 0 0 ALICE GIPE BOARD DIRECTOR 1.00 X 0 0 0 CYN GOMEZ BOARD DIRECTOR 1.00 X 0 0 0 JACKSON KOHN BOARD DIRECTOR 1.00 X 0 0 0 ASHLEY LEE BOARD DIRECTOR 1.00 X 0 0 0 JUDITH LOPEZ BOARD DIRECTOR 1.00 X 0 0 0 DANIEL MILUTIN BOARD DIRECTOR 1.00 X 0 0 0 DANIEL MURPHY BOARD DIRECTOR 1.00 X 0 0 0 AMELIA PATTERSON BOARD DIRECTOR 1.00 X 0 0 0 ADRIAN PORTILLO BOARD DIRECTOR THRU 12/2022 1.00 X 3545 0 0 JULIAN RAMOS BOARD DIRECTOR 1.00 X 0 0 0 SALVADOR RANGEL HUERTA BOARD DIRECTOR 1.00 X 0 0 0 ALEXSANDER ROJAS ROJAS BOARD DIRECTOR 1.00 X 0 0 0 CHISATO RUO BOARD DIRECTOR THRU 12/2022 1.00 X 0 0 0 ISABELLE VALDES BOARD DIRECTOR THRU 12/2022 1.00 X 0 0 0 LEILANI VILLASENOR BOARD DIRECTOR 1.00 X 0 0 0 MIGUEL DUARTE CFS SUPERVISOR / BOARD DIRECTOR 40.00 X 95247 0 14682 STEVE OLESEN EXECUTIVE DIRECTOR START 6/2022 40.00 X 92996 0 1162 DAVE CHELSEA-SEIFERT OPS MGR / ACTING E.D. THRU 6/2022 40.00 X 153749 0 19682 JUHANDRYN DESSAMES FINANCE & ACCOUNTING MANAGER 40.00 X 128892 0 9788 PATSY JANG ACCOUNTING SUPERVISOR 40.00 X 118270 0 10038 592699 0 55352 3 0 1 0 VALENCIA BROS CONSTRUCTION & REMODELING 21205 FOOTHILL BLVD HAYWARD CA 945411517 CONSTRUCTION / MAINTENANCE SERVICES 749918 COMFORT AIR MECHANICAL SYSTEMS INC 1742 CLEMENT AVENUE ALAMEDA CA 94501 MAINTENANCE SERVICES 192874 A2 REMODELING 370 VAQUEROS AVENUE 6A RODEO CA 94572 CONSTRUCTION / MAINTENANCE SERVICES 145779 UPTIME USA LLC 3470 MT DIABLO BLVD A130 LAFAYETTE CA 94549 IT SERVICES 100448 4 190531 190531 ROOM AND BOARD REVENUE 721310 6892667 6892667 APARTMENT RENTALS 721310 2794949 2794949 OTHER OPERATING REVENUE 721310 117247 117247 9804863 361692 361692 MISCELLANEOUS REVENUE 900099 141941 141941 141941 10499027 9804863 0 503633 100300 100300 608148 425704 152037 30407 3323487 2326440 830872 166175 63420 44394 15855 3171 287721 201405 71930 14386 202919 142043 50730 10146 40800 40800 37407 37407 825 825 199734 99867 89880 9987 94967 66477 23742 4748 2484267 2235841 124213 124213 4379 3941 219 219 35221 31699 1761 1761 92913 92913 FOOD EXPENSE 1241428 1241428 NEWSLETTER EXPENSES 86163 86163 MEMBER RESOURCES 73981 73981 BOARD EXPENSES 40892 40892 144983 130484 7250 7249 9163955 7248399 1543094 372462 6038565 3342509 1295341 -949259 127043 359194 3095399 4313015 75858447 36447254 38981243 39411193 13159977 15355949 893588 173291 63591156 62005892 1511553 2932531 2086727 2088102 14725329 13828745 51228 51228 498500 498500 691383 756197 19564720 20155303 X 39759872 37294182 4266564 4556407 44026436 41850589 63591156 62005892 1335072 -125190 -3385729 0 X 0 1 X 1 0 X 664921 791681 1156947 419699 190531 3223779 10988029 10599350 9078796 11209140 9804863 51680178 11652950 11391031 10235743 11628839 9995394 54903957 0 0 0 54903957 805839 593900 300219 361692 2061650 805839 593900 300219 361692 2061650 61222 164395 82645 112913 141941 563116 12520011 12149326 10618607 11741752 10499027 57528723 0.95440 0.94330 0.03580 0.04630 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 935952 100300 100300 935952 935952 104151 104151 935952 935952 193243 193243 935952 935952 198772 198772 935952 935952 165597 4819 170416 935952 0.11000 0.89000 0.00000 0 0 1445551 1445551 70038499 32918261 37120238 4374397 3528993 845404 39411193 REFUNDABLE DEPOSITS 756197 756197 X 10373837 -125190 -125190 10499027 0 10499027 9163955 0 9163955 0 9163955 PART IV, LINE 2B: CERTAIN CASH ACCOUNTS ARE MAINTAINED BY THE VARIOUS HOUSES FOR TRANSACTIONS OCCURRING AT THE HOUSE LEVEL. CASH GENERALLY IS RAISED FROM HOUSE MEMBERS AND IS HELD IN BANK ACCOUNTS UNDER THE ORGANIZATION'S NAME. EXPENDITURES FROM THESE ACCOUNTS MUST ADHERE TO THE ORGANIZATION'S POLICIES AND ARE SUBJECT TO REVIEW. A CORRESPONDING LIABILITY IS INCLUDED IN THE STATEMENT OF FINANCIAL POSITION TO REFLECT THESE ASSETS ARE TO FUNDS NOT UNDER THE ORGANIZATION'S DIRECTION. PART V, LINE 4: BSC MAINTAINS ENDOWED SCHOLARSHIP FUNDS TO ENSURE THAT IT IS ABLE TO OFFER BSC MEMBERS WITH FINANCIAL NEED SCHOLARSHIPS IN PERPETUITY. PART X, LINE 2: THE ORGANIZATION HAS ADOPTED FASB ACCOUNTING STANDARD CODIFICATION (ASC) 740-10, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. ASC SECTION 740-10 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. ASC 740-10 REQUIRES THAT AN ORGANIZATION RECOGNIZE IN THE FINANCIAL STATEMENTS THE IMPACT OF THE TAX POSITION IF THAT POSITION WILL MORE LIKELY THAN NOT BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. AS OF AND FOR THE YEAR ENDED MAY 31, 2023, THE ORGANIZATION HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS, TAX PENALTIES OR INTEREST. 1 SCHOLARSHIPS FOR MEMBERS OF BSC 170 100300 PART I, LINE 2: SCHOLARSHIPS FOR INDIVIDUAL BSC MEMBERS ARE GRANTED ON THE BASIS OF UNMET FINANCIAL NEED, BASED ON INFORMATION GENERATED BY THE UNIVERSITY FINANCIAL AID OFFICE AT UC BERKELEY AND/OR OTHER BAY AREA COLLEGES/UNIVERSITIES. X X X 0 0 0 0 0 0 0 0 0 DAVE CHELSEA-SEIFERT OPS MGR / ACTING E.D. THRU 6/2022 153749 0 0 0 0 0 903 0 18779 0 173431 0 0 0 A CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY 352273601 NONEAVAIL 2018-10-01 15869099 REFUND BOND DATED 9/22/2016 0 0 0 A 4573013 15869099 15869099 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 0 0 0 1 A 1 TOMI CHUNG BOARD MEMBER 10028 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT NINOA KAMANGAR BOARD MEMBER 8262 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT LIZA MAMEDOV-TURCHINSKY BOARD MEMBER 17117 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT EVELYN ARROYO BOARD MEMBER 2444 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT VICENTE GONZALEZ BOARD MEMBER 17223 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT FRANCESCA MEJIA BOARD MEMBER 8262 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT MAAN ALTHINAYYAN BOARD MEMBER 3042 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT DAHLIA BEKONG BOARD MEMBER 10090 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT ANTHONY CARRASCO BOARD MEMBER 987 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT ELLIE CAWTHON BOARD MEMBER 1433 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT ROBERTO GARCIA BOARD MEMBER 3049 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT CYN GOMEZ BOARD MEMBER 2629 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT JUDITH LOPEZ BOARD MEMBER 290 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT DANIEL MILUTIN BOARD MEMBER 603 SCHOLARSHIP SCHOLARSHIP DANIEL MURPHY BOARD MEMBER 2500 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT ADRIAN PORTILLO BOARD MEMBER 16806 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT ALEXSANDER ROJAS ROJAS BOARD MEMBER 2147 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT CHISATO RUO BOARD MEMBER 678 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT ISABELLE VALDES BOARD MEMBER 722 ROOM & BOARD STIPEND AND/OR CREDIT ROOM & BOARD STIPEND AND/OR CREDIT FORM 990, PART IV, LINE 12A AND FORM 990, PART XI, LINE 2B: AS OF THE FILING OF THIS FORM 990, THE ORGANIZATION WAS IN THE PROCESS OF (BUT HAD NOT YET COMPLETED) A FINANCIAL STATEMENT AUDIT. THE FINANCIAL INFORMATION REPORTED WITHIN THIS FORM 990 WAS DERIVED FROM UNAUDITED FINANCIAL STATEMENTS PROVIDED BY THE ORGANIZATION. IF NECESSARY, AN AMENDED RETURN WILL BE FILED TO CORRECT FOR ANY UPDATES TO THE FINANCIAL STATEMENTS PENDING THE FINALIZATION OF THE AUDIT. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S MEMBERS, AS DEFINED BY THE BYLAWS, ARE LIMITED TO ONLY FULL-TIME STUDENTS OF ANY POST-SECONDARY SCHOOL WITH CURRENT RENT AND/OR BOARDING CONTRACTS. EXCEPTIONS TO THE ABOVE MAY BE MADE BY THE ADMINISTRATIVE COMMITTEE IN ACCORDANCE WITH THE PROVISIONS OF THE ADMINISTRATIVE CODE OF THE ORGANIZATION, SUBJECT TO THE APPROVAL OF THE BOARD OF DIRECTORS. MEMBERSHIP SHALL NOT BE RESTRICTED BECAUSE OF RACE, COLOR, ETHNICITY, RELIGION, GENDER IDENTITY, NATIONAL ORIGIN, POLITICAL ADHERENCE, OR SEXUAL IDENTITY. THE FORM 990 INSTRUCTIONS ALSO DEFINE A "MEMBER" (WITHOUT REGARD TO WHAT A PERSON, INCLUDING A CORPORATION OR OTHER LEGAL ENTITY, IS CALLED IN THE GOVERNING DOCUMENTS) AS ANY PERSON WHO HAS THE POWER TO ELECT MEMBERS OF THE GOVERNING BODY. AS SUCH, THE PRESIDENT OF THE BSC ALUMNI ASSOCIATION AND THE BSC EMPLOYEE ASSOCIATION ARE ALSO CONSIDERED MEMBERS. LASTLY, THE FORM 990 INSTRUCTIONS FURTHER DEFINE A "MEMBER" (WITHOUT REGARD TO WHAT A PERSON, INCLUDING A CORPORATION OR OTHER LEGAL ENTITY, IS CALLED IN THE GOVERNING DOCUMENTS) AS ANY PERSON WHO CAN RECEIVE A SHARE OF THE ORGANIZATION'S NET ASSETS UPON DISSOLUTION. AS SUCH, THE UNIVERSITY OF CALIFORNIA IS ALSO CONSIDERED A "MEMBER". FORM 990, PART VI, SECTION A, LINE 7A THE PRESIDENT OF THE BSC ALUMNI ASSOCIATION, A SEPARATE 501(C)(3) ORGANIZATION, MAY APPOINT ONE MEMBER OF THE ALUMNI ASSOCIATION AS A DIRECTOR. THE TERM OF OFFICE OF THE ALUMNI ASSOCIATION MEMBER SHALL BE AT THE PLEASURE OF THE PRESIDENT OF THE BSC ALUMNI ASSOCIATION. IN ADDITION, THE BSC EMPLOYEE ASSOCIATION CONTRACT INCLUDES A PROVISION FOR THE DESIGNATION OF A DIRECTOR FROM AMONG MEMBERS OF THE EMPLOYEE ASSOCIATION. THE REMAINING MEMBERS OF THE BOARD OF DIRECTORS SHALL BE ELECTED BY THE MEMBERS OF THE SEVERAL UNITS. EACH UNIT SHALL ELECT ONE DIRECTOR FOR EACH SEVENTY MEMBERS, OR FRACTION THEREOF, IN THE RESIDENTIAL CAPACITY OF THE UNIT. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT TAX ACCOUNTANT IN CONJUNCTION WITH THE ORGANIZATION'S FINANCE AND ACCOUNTING STAFF. A DRAFT FORM 990 IS THEN REVIEWED BY MANAGEMENT OF THE ORGANIZATION, AS WELL AS THE FINANCE AND ACCOUNTING STAFF; ADJUSTMENTS ARE MADE AS NECESSARY. THE FORM 990 IS THEN ELECTRONICALLY FILED WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 WAS REVIEWED WITH THE CAPITAL & FINANCE COMMITTEE OF THE BOARD OF DIRECTORS AND MADE AVAILABLE TO ALL MEMBERS OF THE GOVERNING BODY AFTER FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY WHICH REQUIRES IT TO MONITOR CONFLICTS OF INTEREST THROUGH A WRITTEN DISCLOSURE QUESTIONNAIRE IMPLEMENTED ANNUALLY IN THE SPRING. THE QUESTIONNAIRE IS COMPLETED BY ALL EMPLOYEES, ALL EXECUTIVE OFFICERS, AND ALL BOARD MEMBERS. THE ORGANIZATION ALSO TRAINS STAFF, BOARD MEMBERS, AND EXECUTIVES ON THE DUTY TO DISCLOSE CONFLICTS OF INTEREST AS THEY ARISE THROUGHOUT THE YEAR. THE EXECUTIVE DIRECTOR EXAMINES ANY DISCLOSURES BY STAFF OF POTENTIAL CONFLICTS OF INTEREST TO DETERMINE WHETHER AN ACTUAL CONFLICT EXISTS. THE CABINET EXAMINES ANY DISCLOSURES BY THE BOARD MEMBERS, EXECUTIVES, AND SENIOR MANAGEMENT. THE AUDIT COMMITTEE IS CHARGED WITH MAKING DECISIONS CONCERNING RESOLUTION OF CONFLICTS OF INTEREST INVOLVING DIRECTORS, EXECUTIVE OFFICERS, AND SENIOR MANAGEMENT. THE PRESIDENT IS RESPONSIBLE FOR REVIEWING DISCLOSURES AND RESOLVING CONFLICTS WITH REGARD TO THE CHAIR OF THE AUDIT COMMITTEE. IN ALL CASES, CONFLICTED INDIVIDUALS ARE NOT ALLOWED TO PARTICIPATE IN THE DECISION REGARDING A POTENTIAL TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 BSC ANNUALLY COMPARES SALARIES AND BENEFITS, INCLUDING THAT OF THE EXECUTIVE DIRECTOR AND OTHER OFFICERS/KEY EMPLOYEES, TO THOSE OF COMPARABLE NONPROFITS IN THE BAY AREA UTILIZING FAIR PAY, A NONPROFIT WAGE AND BENEFITS SURVEY. IN 2016, BSC ALSO ENGAGED A PROFESSIONAL COMPENSATION CONSULTANT TO REVIEW AND ADVISE THE BOARD ON ALL PROFESSIONAL STAFF SALARIES/WAGES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC VIA THE ORGANIZATION'S WEBSITE (WWW.BSC.COOP) AND BY REQUEST.