KIPP NYC Washington Heights Academy Charter School Board of Trustees Minutes of June 18, 2012 Meeting The

KIPP NYC Washington Heights Academy Charter School Board of Trustees met on June 18, 2012 at Hunter College with the following trustees in attendance: David Massey, Joe Negron, Jane Martinez Dowling, Rafael Mayer, Dawn Palo, and Brian Zied. Also attending were David Levin, Amy Griffin, Kelly Coffey, Frank Corcoran, Whitney Tilson, Larry Robbins, Abigail Klem, Richard Taft, Andrew Paul, Jacqueline Adams, Thomas Lehrman, Josh Zoia, Jack Chorowsky, Charizma Williams, Stephanie Adams, Natalie Webb, Carrie Mauer, and Vicki Zubovic. Opening of Meeting The board voted unanimously to run the meeting concurrently with the meetings of the Boards of KIPP Academy, KIPP STAR, KIPP Infinity, KIPP AMP, and the Joint High School Committee due to the commonality of issues. Board Business The board voted to approve the minutes of its April 2, 2012 meeting. The board opened the meeting to public comments. There were no comments. Mr. Massey reviewed the board slate reflecting board membership for the two-year term beginning July 1, 2012. The board voted to approve the board slate. Mr. Levin provided an end-of-year update. He also recognized Joseph Negron, principal of KIPP Infinity, who is stepping down after 7 years to return to the classroom. The board reviewed and voted to approve new staff assignments. Rafael Mayer and Vicki Zubovic, Managing Director of Development, provided an update on KIPP NYCs long-term fundraising plans. Charizma Williams, Managing Director of Finance, provided a financial update and discussed details regarding the annual audit. Jack Chorowsky, Chief Operating Officer, review the 2012-2013 budget and provided an update on the long term financial model and KIPP Washington Heights Academys projected end-of-year cash reserve. He highlighted new investments for the 2012-2013 year, including increased staffing on the Shared Services Team to support growth and additional increases in special education staffing. The board voted to approve the 20122013 budget. Joseph Negron and Jane Martinez Dowling recused themselves from voting to approve any Shared Services Team fees charged to KIPP Washington Heights Academy.

The board voted to approve borrowing $250,000 from KIPP New York Inc. to fund school start-up costs. Mr. Chorowsky reviewed changes to the KIPP Washington Heights Academy Employee Handbook for the upcoming school year. He also reviewed the Internet Acceptable Use Agreement changes with the board. The board voted to approve the reissued Employee Handbook, as well as the revised Internet Acceptable Use Agreement. The board voted to approve adoption of the 403b retirement benefit plan currently implemented by other KIPP NYC charter schools. The board voted unanimously to move to Executive Session to discuss confidential personnel and real estate matters. Adjournment The meeting adjourned.

KIPP NYC Boards of Trustees FY 2012-13

KIPP Academy David B. Massey (Chair) (Audit Committee) U.S. Attorneys Office Rafael Mayer (Chair, Development Cte.) Khronos LLC Whitney Tilson (Treasurer) (Audit Committee) Tilson Funds Dawn M. Palo (Development Committee) (Investment Committee) BNP Paribas Amy L. Robbins (Secretary) Nduna Foundation KIPP STAR David B. Massey (Chair) (Audit Committee) U.S. Attorneys Office Rafael Mayer (Chair, Development Cte.) Khronos LLC Andrew S. Paul (Investment Committee) Tudor Investment Corp. KIPP AMP David B. Massey (Chair) (Audit Committee) U.S. Attorneys Office Rafael Mayer (Chair, Development Cte.) Khronos LLC Kelly Coffey (Treasurer) (Compensation) (Development Cte.) J.P. Morgan Chase John S. Zeiler Hudson Housing Capital KIPP Infinity David B. Massey (Chair) (Audit Committee) U.S. Attorneys Office KIPP Washington Heights David B. Massey (Chair) (Audit Committee) U.S. Attorneys Office KIPP New York, Inc. Larry Robbins, (Chair) Glenview Capital Dave Levin (Vice Chair) KIPP Foundation Thomas J. Tisch Brown University

Rafael Mayer Rafael Mayer (Chair, Development Cte.) (Chair, Development Cte.) Khronos LLC Khronos LLC Brian Zied (Treasurer) (Chair, Audit Committee) Charter Bridge Capital Richard Taft (Secretary) (Audit Committee) (Investment Committee) Columbia Management Abigail Klem Diane von Furstenberg Studio, LP Joe Reece, Credit Suisse Brian Zied (Secretary, Treasurer) (Chair, Audit Cte.) Charter Bridge Capital Dawn M. Palo (Development Cte.) (Investment Cte.) BNP Paribas Carrie Gennuso (Audit Committee) The Childrens Place Jane Martinez Dowling KIPP Through College Joseph Negron KIPP Infinity Middle School

Girish Bhakoo (Treasurer) (Audit Committee) Ruane, Cunniff & Goldfarb Carrie Gennuso (Audit Committee) The Childrens Place Jacqueline Adams Africa.com Thomas Lehrman (Secretary) (Investment Committee) Alta Investors

Amy Griffin (Nominating)

Frank Corcoran KIPP Academy

Kinga Lampert