Prep for Prep

“The trustees frank bynum, frank loverro-and sandy osborne have a shared ownership interest in kelso & company, inc. The following trustees are associated with the same organization: sue meng is a partner with debevoise & plimpton; john hall is of council. Marty lipton, jon moses and jeannemarie o'brien work with wachtell, lipton, rosen & katz.”

“Before filing, the 990 is reviewed by the treasurer of prep for prep, distributed to all members of the finance committee for review, approved by the executive committee of trustees, and distributed to all board members.”

“The finance committee is empowered to investigate any matter brought to its attention with full access to all books, records, facilities and personnel of prep. In keeping with its charter, the finance committee annually reviews and discusses with management and the independent auditors the adequacy and effectiveness of prep's legal, regulatory and ethics compliance programs, including prep's conflict of interest policy.”

“The staff recruitment and compensation committee of the board assists the executive committee of the board in determining compensation of senior management. The committee reviews the compensation of the chief executive and key employees each year and recommends changes or adjustments to the executive committee. Review includes use of comparability data and engagement of outside experts and other advisors. The last review was in 2018.”

“The organization makes its governing documents, conflict of interest policy, and financial reports available to the public upon request.”

“Prep students and alumni volunteer in the prep admissions office, work with prospective applicants and their parents during the recruitment and application process. Prep grads, or students who have completed 8th grade in their independent schools, serve as volunteers during the preparatory component summer session by assisting with attendance, telephone calls, and the collection and distribution of lunches, mailings, books and notices (approximate total number of volunteers for admissions and preparatory component 80). Prep for prep also uses volunteers in order to facilitate its professional advancement initiatives, which expose prep high school students and undergraduates to a range of career options they might not otherwise have considered. These initiatives include summer internships, summer jobs bank, and the prep for prep institute for entrepreneurship. Volunteers help prepare students for summer internships by conducting mock interviews for high school students. Through the institute for entrepreneurship, volunteers serve as business plan advisors and final competition judges. Prep also uses volunteers to serve as career seminar series panelists (approximate total number of volunteers for professional advancement 280). Board and associates council members volunteer their time and professional experience to attend panels and leverage their contacts (total number of board and associates council members 118) in addition, approximately 25 prep alumni volunteer their time to help run prep's annual giving campaign.”