The Oliver Scholars Program Inc.

“Desire & company provides outsourced cfo services to the organization. The outsourced financial management services includes handling the day-to-day activities of the organization, including paying bills, payroll processing, budgeting, grant reporting, report generating, and support to other departments. Fees paid to desire & company for cfo services in 2020 totaled, $268,650. The organization used two professional employer organization ("peo") in 2020, adp totalsource thru june 2020 and prestige employee administrators (current peo). As a professional employer organization, totalsource/prestige provide professional employer services to the oliver scholars program, inc. In the peo relationship, totalsource/prestige 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/prestige is a co-employer of oliver scholars' employees. Totalsource/prestige 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/prestige. Totalsource/prestige and oliver scholars have a right to hire, discipline, and terminate employees as to each one's employment relationship with employees. Fees paid to adp totalsource were $16,945 and $11,231 to prestige employee administrators in 2020.”

“The organization has its form 990 prepared by an outside accounting firm. It is then reviewed and approved by the organization's ceo and the finance committee of the board. A complete copy of the form 990 is also provided to all members of the organization's governing body prior to filing.”

“The policy applies to each trustee, officer and employee of the oliver scholar's program, inc. (the organization.) directors, officers, and employees of the organization serve the public trust and in doing so, they should avoid placing themselves in a position in which their personal interests are, or may be perceived to be, in conflict with the interests of the organization. They have the responsibility of administering the affairs of the organization honestly and prudently, and in its best interests. The purpose of this policy is to uphold high standards of business and personal conduct and to protect the organization when it is contemplating entering into a transaction or arrangement that might create a potential conflict of interest. Every director, officer, and employee shall fully disclose to the organization the existence of any potential conflict of interest as soon as they become aware of the situation. The organization shall offer the individual the opportunity to make a presentation or otherwise disclose all material facts of the matter to the audit committee. After the disclosure of a potential conflict of interest and upon due consideration of the facts, the audit committee, in consultation with the board chair, shall determine whether or not a conflict of interest exists. If it does exist, the audit committee shall, after any necessary investigation and due consideration, and upon the majority vote of its members, take any appropriate disciplinary and corrective action with respect to the conflict of interest and the individual subject to that conflict. The individual with the potential conflict of interest shall not participate in, nor be present during, any discussion or vote regarding the matter, except to make a presentation or otherwise disclose material facts and to respond to questions. Similarly, that individual shall not attempt to influence improperly the deliberation or voting on the matter giving rise to such potential conflict. The audit committee shall keep and maintain minutes of all meetings dealing with investigating and resolving actual or potential conflicts of interest. Each trustee, officer, and key employee (an employee who is in a position to exercise substantial influence over the organization) shall annually, and at any time when there has been a change from the previously provided statement, complete, sign, and submit to the secretary of the organization a written annual disclosure statement.”

“The oliver scholar program's board of directors establishes the compensation of the chief executive officer (ceo) using a variety of information and studies that are available. Salaries of comparable nonprofits 990's are reviewed to determine the reasonableness of the salaries of the ceo and directors. As a part of the annual budget process, the ceo and other salaries are reviewed and approved by the finance committee. The process was last conducted in 2020.”

“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 organization's 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.”

“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.”