Elderhostel Inc DBA Road Scholar

“The Form 990 is reviewed by the CFO, President/CEO, tax advisors from the national accounting firm of Grant Thornton LLP, 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 details the duty to disclose conflicts of interest, procedures for addressing any conflict, including the recusal of directors, officers or employees from decisions regarding their potential conflict, defines and identifies possible conflicts of interest. Annually, all directors, officers, senior staff and management employees sign a statement which 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 Leadership employees who report to the CEO. The Executive Committee reviews compensation for the CEO and Senior Leadership employees 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 2022. 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 Road Scholar cannot segregate. The top five independent contractors that are not program providers or vendors are as follows: Perficient, Inc. (software development) - $1,704,645; Fry Communications, Inc. (produce and mail catalogs and brochures) - $613,535; Rackspace Technology, Inc. (technology hosting and support) - $610,537; EP Graphics, Inc. (produce and mail catalogs and brochures) - $348,250; and DS Graphics, Inc. (produce and mail catalogs and brochures) - $308,131.”

“provide extraordinary access, and stimulate discourse and friendship among people who value lifelong learning. The Organization sponsors educational programs throughout the United States, Canada and more than 80 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 2023, the Organization operated 3,823 on-site programs attended by 82,179 participants, 52 multi-day, on-line programs attended by 1,069 participants, and 167 on-line lectures attended by 36,260 participants.”

“Change in fair value of currency and commodity derivatives totaled $5,410,228.”