Turnaround for Children Inc

“Pamela cantor, president/ceo, and andrew peskoe, director, have a family relationship. Kelly posner gerstenhaber, founding chairman and director, and alexander stern, director, have a family relationship.”

“The organization's irs form 990 is prepared by an outside accounting firm and the following review process is executed to ensure that the information reported is complete and accurate. Management and the treasurer review the 990 before presenting to the finance committee for further review and approval. Any issues raised by the finance committee are addressed prior to presentation to the organization's board of directors. The form is electronically submitted to the board of directors for comments and discussed during the board meeting. Any comments are addressed and the 990 is submitted to the president/ceo for sign-off. Signed copy is transmitted to the accounting firm for electronic submission to irs.”

“Turnaround's by-laws include a conflict of interest section and related conflicts of interest policy. Turnaround and its board of directors annually monitor and, if applicable, disclose and/or enforce such policy. The policy currently requires that all interested persons (directors, officers, and members of committees with board delegated powers) annually submit a signed conflict of interest statement disclosing any potential or actual financial interests that may create an actual or perceived conflict of interest as set forth in the policy. Signed conflict of interest statements are reviewed by the audit committee chairperson and records of such executed statements are maintained by the chief of staff. If a potential conflict of interest were to arise, it would be reviewed by the board or applicable committee, which would determine, after discussion and by majority vote taken with any interested persons absent from the meeting, whether a conflict of interest exists, whether more advantageous alternatives that would not give rise to a conflict of interest are available, and if not, whether the transaction or arrangement is in turnaround's best interest, for its own benefit, and fair and reasonable.”

“Turnaround observes the following policies and procedures for determining compensation of officers, 1) review and approval by a compensation review committee: the compensation of the officers is reviewed and approved by a compensation review committee provided that persons with conflict of interest with regard to the compensation arrangement under discussion are not involved in the review. 2) use of data as to comparable compensation: the compensation is reviewed against data for comparable positions in similar organizations. 3) contemporaneous substantiation of the deliberations and decisions: decisions and deliberations are contemporaneously recorded. Turnaround currently has two senior management positions. The president/ceo and the chief operating officer. The finance committee, comprised of board of directors, acts as a compensation review committee for these two positions. The new chief operating officer, alison avera, joined the organization on may 10, 2013 and her compensation of $250,000 was reviewed, discussed and approved at the finance commitee meeting on february 4, 2013. The president/ceo does not receive a salary. Her compensation consists exclusively of health and disability insurance plans premiums. The in-kind compensation of the president/ceo is evaluated on annual basis to ensure that the contributed services are recorded at fair market value. For other key employees, the compensation review committee is composed of the ceo, coo and the cfao.”

“Turnaround for children, inc. Makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, form 990, form 1023, and by-laws are also available upon written request at 25 west 45th street, new york, ny 10036.”

“Owen lewis, m.d., director, received $35,250 for providing consulting service.”

“In addressing the recurring and predictable obstacles to teaching and learning that stem from the stress of poverty, turnaround deploys a targeted intervention that mitigates the way this stress impacts student readiness for learning and growth. In each partner school, turnaround creates systems of support for the highest need students, trains teachers in effective classroom and instructional strategies, and works with school leaders to build a high-performing culture. This foundation enables children to become productive, successful learners, ready to tackle what they need to prepare for college and career.”

“Adjustment to grants received -1,590,195.”

“Turnaround for children has a committee that is responsible for oversight of the audit of financial statements and selection of an independent accountant. This process has not changed from the prior year.”