Consolidated Financial Statements Together with Report of ...

Consolidated Financial Statements Together with Report of Independent Certified Public Accountants

TEACH FOR ALL, INC. AND SUBSIDIARY

September 30, 2016, with 2015 Information

TEACH FOR ALL, INC. AND SUBSIDIARY

TABLE OF CONTENTS

Report of Independent Certified Public Accountants Consolidated Financial Statements:

Consolidated Statement of Financial Position as of September 30, 2016, with 2015 information Consolidated Statement of Activities for the year ended September 30, 2016 Informational Teach For All Only Statement of Activities for the year ended September 30, 2015 Consolidated Statement of Functional Expenses for the year ended September 30, 2016 Informational Teach For All Only Statement of Functional Expenses for the year ended

September 30, 2015 Consolidated Statement of Cash Flows for the year ended September 30, 2016, with 2015

information Notes to Consolidated Financial Statements

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Grant Thornton LLP 757 Third Avenue, 9th Floor New York, NY 10017 T 212.599.0100 F 212.370.4520 linkd.in/GrantThorntonUS GrantThorntonUS

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To the Board of Directors of Teach For All, Inc.:

We have audited the accompanying consolidated financial statements of Teach For All, Inc. and Teach For All Network (collectively "TFALL"), which comprise the consolidated statement of financial position as of September 30, 2016 and the related consolidated statements of activities, functional expenses and cash flows for the year then ended, and the related notes to the consolidated financial statements.

Management's responsibility for the financial statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to TFALL's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of TFALL's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.

Grant Thornton LLP U.S. member firm of Grant Thornton International Ltd

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Teach For All, Inc. and Teach For All Network as of September 30, 2016, and the changes in their consolidated net assets and their consolidated cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Emphasis of matter-2015 financial information As more fully described in Notes 1 and 2, the accompanying 2016 consolidated financial statements include fiscal 2015 financial information of Teach For All Only on which we expressed an unmodified opinion in our report dated February 11, 2016. Accordingly, the 2015 Teach For All Only information included herein should only be used in conjunction with the fiscal 2015 financial statements from which it was derived.

New York, New York February 14, 2017

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TEACH FOR ALL, INC. AND SUBSIDIARY

Consolidated Statement of Financial Position

As of September 30, 2016, with 2015 information

ASSETS

Cash and cash equivalents Prepaid expenses and other assets Contributions receivable, net (Note 3) Grants and contracts receivable, net of an allowance of

$171,005 and $128,292 in 2016 and 2015, respectively Other receivables Fixed assets, net (Note 4)

Total assets

LIABILITIES AND NET ASSETS

LIABILITIES Accounts payable and accrued expenses

Commitments and Contingencies (Note 10)

NET ASSETS Unrestricted Temporarily restricted (Note 6) Total net assets

Total liabilities and net assets

2016

2015 Teach For All only

$ 4,186,900 400,963

25,159,040

133,621 1,773,660

165,476

$ 31,819,660

$ 5,824,537 392,668

7,450,132

318,866 206,996 365,807

$ 14,559,006

$ 1,854,704 $ 1,557,103

2,771,136 27,193,820

29,964,956

4,989,664 8,012,239

13,001,903

$ 31,819,660 $ 14,559,006

The accompanying notes are an integral part of this consolidated financial statement. - 3 -

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