Stratford Foundation Inc.

“President and CEO is the daughter of the Director and the Treasurer and CFO is the niece of the Director.”

“The stockholder is a trust. There is one class of stock. The stockholder has the right to elect the Board Members. The stockholder does not have the rights to make significant decisions of the governing body and does not have the right to receive distributions.”

“There is one stockholder who governs these actions.”

“The Form 990 is thoroughly reviewed by the President and CEO before filing.”

“To ensure that the Foundation operates in a manner consistent with its charitable purposes and that it does not engage in activities that could jeopardize its status as an organization exempt from federal income tax, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: a. Whether compensation arrangements and benefits are reasonable and are the result of arm's-length bargaining; b. Whether partnerships, joint ventures, and arrangements with management organizations conform to the Foundation's written policies, are properly recorded, reflect reasonable investment or payments for good and services, further the Foundations charitable purposes, and do not result in inurement, impermissible private benefit or in an excess benefit transaction. If a violation of the conflict of interest policy is suspected: a. If the Board or committee has reasonable cause to believe that an officer, director, or member of a committee has failed to disclose actual or possible conflicts of interest, it shall inform the person of the basis for such belief and afford him or her the opportunity to explain the alleged failure to disclose. b. If, after hearing the response of the officer, director, or member of a committee and making such further investigation as may be warranted in the circumstances, the Board or committee determines that he or she has in fact failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“Employee compensation is based on performance reviews. President with employees supervisor's recommendations and market analysis determines the salary or hourly wage. This is done annually. The presidents salary and the CFO's salary is determined by the Board in conjunction with the compensation sub-committee and outside review and input. Outside review is done on or about every three years, last done in March 2020. Compensation increases followed in 2020 and 2021.”

“Disclosure availability of non-discrimination policy was made through the regional newspaper, The Boston Globe, on September 8, 2021. Disclosure availability of tax returns, governing documents and policies made upon request by contacting the organization.”

“Loan forgiveness for the organizations PPP Loan (Paycheck Protection SBA loan) including accrued interest.”

“Due to easing of CDC restrictions related to COVID19, the Organization has switched from all virtual remote tutoring and training to a hybrid of in-person one-to-one tutoring and virtual remote tutoring. The teacher training classes remain virtual. In addition, the Organization closed the Online Course division of the Company, which consisted of one director and one part-time teacher. This division was never profitable, however, management expected an increase in sales where the pandemic created an increase in online learning however, that was not the case, sales continued to decline. It should be noted that the Online Course division is not material to the organization as a whole.”

“Transfers from related entity $1,155,000. Loss on disposal of property (course content development costs) $26,045. Total $1,128,955.”