The Oliver Scholars Program Inc.

“The organization uses adp totalsource, a professional employer organization ("peo"). As a professional employer organization, totalsource provides professional employer services to the oliver scholars program, inc. In the peo relationship, totalsource and oliver scholars share certain responsibilities and allocate other employer responsibilities between each other. Oliver scholars remains an employer of the worksite employees and totalsource is a co-employer of oliver scholars' employees. Totalsource reserves the right of direction and control over employees as is necessary to fulfill its obligations and provide its services under an agreement between oliver scholars and totalsource. Totalsource and oliver scholars have a right to hire, discipline, and terminate employees as to each one's employment relationship with employees. Fee paid to adp totalsource in 2019 was $35,875.”

“The oliver scholars program has its form 990 prepared by an outside accounting firm. The review process in place to ensure that the information is complete and accurate is as follows: first the board of trustees reviews and votes to accept the audit results at a regularly scheduled board meeting. The outside accounting firm then proceeds to prepare the form 990. The form 990 is then sent to the board after the outside accounting firm finalize and file the return.”

“The oliver scholars program has in place an ethical conduct and conflict of interest policy that is monitored and enforced each year by the board governance committee. At the first board meeting every year, each trustee is required to complete and sign the ethical conduct and conflict of interest statement, disclosing any potential or actual conflicts. The statements are collected and reviewed by the governance committee chair. If a potential or actual conflict of interests exists, the governance chair will notify the board chair and investigate the conflict. The results of the investigation will be summarized and documented by the governance chair and be reported to the full board of trustees. If the governance chair establishes that an actual conflict exists, the trustee in question will be notified immediately and not be allowed to vote or be a part of any decisions about any such transactions that have to do with the conflict until such time there is no longer a conflict. All potential conflicts of interest on the part of the staff are reported to the executive director.”

“The oliver scholars program board of trustees has a written compensation policy to follow in establishing compensation for the chief executive director and other employees of the organization. Chief executive compensation is reviewed annually by the compensation committee as an integral part of the annual budgeting process. Compensation committee members must be free of conflicts of interest. They must review appropriate and adequate data to determine the reasonableness of all compensation being considered, using a variety of information and studies that are available. The compensation committee's recommendation on the amount of compensation to be paid is required to be documented in written form including the date of the decision, the committee members who considered and voted on the decision, the full terms of the transaction and the comparable data that was used. The process was last conducted in 2019.”

“The organization 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, articles of incorporation and by-laws are also available upon written request at 80 maiden lane, new york, ny 10038, or by calling the organization directly at (212)430-5980.”

“Oliver scholars prepares high-achieving black and latino students for success at the nation's best independent schools and colleges. Oliver identifies talented new york city students and places them at top schools with robust financial aid. The oliver experience includes up to ten years of one-on-one support, after-school and summer coursework, and pre-career training. Oliver scholars, a nonprofit organization, is distinctive among access programs for its commitment to providing transition support for the whole family, developing students' social-emotional skills, and instilling an ethos of giving back. Nearly 90 percent of oliver alumni have attended u.s. News & world report top 100 colleges, and over 30 percent have attended ivy league institutions. Since its founding in 1984, oliver scholars has graduated over 1,100 students.”

“Consultants: program service expenses 365,417. Management and general expenses 42,314. Fundraising expenses 11,310. Total expenses 419,041. Temporary help: program service expenses 76,353. Management and general expenses 24,121. Fundraising expenses 31,839. Total expenses 132,313. Designer services: program service expenses 4,123. Management and general expenses 1,303. Fundraising expenses 1,719. Total expenses 7,145. Photography services: program service expenses 1,414. Management and general expenses 447. Fundraising expenses 590. Total expenses 2,451. Event planner: program service expenses 0. Management and general expenses 0. Fundraising expenses 51,000. Total expenses 51,000. Faculty & tutoring: program service expenses 19,444. Management and general expenses 0. Fundraising expenses 0. Total expenses 19,444.”

“Loss on uncollectible pledges -23,713.”

“The oliver scholars program, inc. Audit committee assumes responsibility for the oversight of the audit of its financial statements and selection of an independent auditor. The process has not changed from the prior year.”