Elderhostel Inc DBA Road Scholar

“The Form 990 is reviewed by the CFO, President/CEO, tax advisors from the national advisory firm of Grant Thornton Advisors LLC, the Audit Committee and the Board of Directors before it is filed. Changes from any of these reviews are incorporated before the 990 is reviewed at the next level and ultimately filed.”

“Road Scholar has a Conflict of Interest Policy to govern arrangements and activities between the Organization, and Road Scholar's Board of Directors, officers, senior staff, management employees and other "Interested Persons" as defined in the policy. This policy defines and identifies possible conflicts of interest, details the duty to disclose conflicts, and establishes procedures for addressing any conflict, including the recusal of directors, officers or employees from decisions regarding their potential conflict. Annually, all directors, officers, senior staff and management employees sign a statement that affirms their understanding of the policy and discloses any potential conflicts of interest. All disclosed potential conflicts are reviewed by the CEO with the Executive Committee of the Board of Directors for awareness and if necessary, for additional actions.”

“The Executive Committee serves as the Compensation Committee of the Board of Directors and votes on and approves compensation for the President/CEO annually, and reviews and approves compensation as recommended by the CEO for the senior leaders who report to the CEO. The Executive Committee reviews compensation for the CEO and senior leaders against compensation data for similarly situated organizations for functionally comparable positions. The compensation review process has been conducted annually since 2002 and data is utilized from a number of sources including compensation surveys, Forms 990 and an independent compensation consultant. The deliberation and decisions regarding compensation arrangements are contemporaneously documented and recorded in the minutes of the Executive Committee and the results are presented to the full Board.”

“Road Scholar provides its governing documents, Conflict of Interest Policy and Audited Financial Statements upon request in either print or electronic form.”

“The top five independent contractors reported on the Form 990 are program providers and vendors. Payments to these entities are shown on a gross basis for calendar year 2024. A substantial portion of those payments is for costs incurred in arranging and conducting Road Scholar programs including accommodations, transportation, and meals for program participants, which cannot be easily segregated. The top five independent contractors that are not program providers or vendors are as follows: ROI Solutions, LLC (Call center outsourcing) - $2,689,830; Conversant, LLC (Digital media and marketing services) - $2,406,112; Perficient, Inc. (Software development) - $2,293,698; Fry Communications, Inc. (Produce and mail catalogs and brochures) - $997,515; and EP Graphics, Inc. (Produce and mail catalogs and brochures) - $849,368.”

“The Organization sponsors educational programs throughout the United States and nearly 100 other countries. The Organization publishes comprehensive program catalogs, provides extensive information on the Web about every program offered, and provides a registration system to match interested participants with available programs. During fiscal 2025, the Organization operated 4,679 on-site programs attended by 97,493 participants, 49 multi-day, on-line programs attended by 1,242 participants, and 142 on-line lectures attended by 81,883 participants.”

“All online programs and lectures and some onsite programs are offered at tuition levels that do not generate a financial surplus after operating and overhead expenses are applied. This is done to extend the rich content of these learning experiences to large numbers of older adults, including those of modest means. These offerings attracted 21,122 program participants and 81,833 lecture attendees in fiscal year 2025 at a net cost to Road Scholar of $2.9 million. Additionally, Road Scholar endeavors to operate programs that fall short of breakeven to avoid disappointing enrolled participants. In fiscal year 2025, the organization incurred $2.4 million to operate low-enrolled programs that were attended by 10,515 participants. Road Scholar provides financial aid to caregivers and participants of modest means, and assistance to participants facing mobility, vision or hearing challenges that impede their ability to participate in a program independently. In fiscal year 2025, Road Scholar spent $300,000 to administer the financial aid program, including awarding $195,000 to 120 recipients, and paid $65,000 to accommodate participants with special needs on programs. The organization champions sustainable travel and spent nearly $265,000 in fiscal year 2025 to offset and reduce carbon emissions and reduce plastic and food waste on programs. Finally, Road Scholar works with colleges and universities to support more than 400 Lifelong Learning Institutes across the country and expended $110,000 in fiscal year 2025 toward these efforts. In all, Road Scholar underwrites expenses of nearly $6 million in service to older adults of modest means, caregivers, attendees of virtual lectures and programs, and to its older adult participants.”

“Change in fair value of currency derivatives totaled $8,203,581 and change in actuarial liability of split interest agreements totaled $25,628.”