New Leaders Inc

“The form 990 (along with audited financial statements) is reviewed by all voting members of the organization's governing body and by the officers of the organization before filing. Specifically, upon completion of the annual audit, the form 990, with the audited financial statements as approved by the audit committee of the board of directors, is presented to the full board of directors in electronic copy for review. Further, the form 990 and audited financial statements are also presented in electronic form to the officers of the organization for review. Once this review is completed, the form 990 is filed with federal and state governments, along with copies of the final audited financial statements.”

“New leaders has a written conflict of interest policy that is included in the employee policies manual and fiscal policies and procedures manual, posted on the internal website, and included in board orientation materials. Board members, officers, and management (executive-level) employees are given a copy of the conflict of interest policy at least annually, as well as upon any revision thereto, and are required at least annually to sign a document certifying that they have read and understand the conflict of interest policy and agree to comply with it. The board currently mandates that all executive-level employees and board members annually complete and sign a conflict of interest questionnaire and disclose potential or actual conflicts that may exist. If a potential or actual conflict is disclosed at any time, the board, or the relevant committee thereof, will review the material facts and circumstances. If it is determined that a conflict does exist, the board will determine whether the transaction at issue may be obtained with reasonable efforts via an advantageous transaction or arrangement that would not give rise to a conflict or, if that is not reasonably possible, whether the original transaction is in the best interest of the organization, for its own business, and fair and reasonable. The interested person does not participate in any vote or discussion on this matter.”

“The organization uses a detailed job ladder with position levels, salary ranges, and job requirements that are benchmarked against comparable non-profit organizations. All employees are given annual performance reviews, and salary increases are approved by an officer. The compensation of the ceo, and the ceo's recommendations for compensation of the other officers are reviewed by the compensation committee of the board and reviewed and approved by all independent members of the full board. As part of the board's review they give consideration to compensation studies and surveys, comparison information from other nonprofit organizations obtained from forms 990 and other sources, and historical salary information. This process is completed on an annual basis. In select years, the organization retained an independent compensation consultant that provided information to the compensation committee and the board as part of their review of the ceo's compensation and the ceo's recommendations for compensation of the other officers. The last compensation review took place september 2022.”

“New leaders has a policy to provide within a reasonable period of time the organization's governing documents, conflict of interest policy, and financial statements to any person or organization upon request.”

“Consultants: program service expenses 2,684,934. Management and general expenses 739,619. Fundraising expenses 89,685. Total expenses 3,514,238. University partner costs: program service expenses 648,751. Management and general expenses 0. Fundraising expenses 0. Total expenses 648,751.”