The Oliver Scholars Program Inc.

“The organization engaged desire & company, cpas pllc to provide cfo services. The duties of the cfo included budgeting and planning, grant reporting, and other financial reporting to the ceo and board. Fees paid to desire & company for cfo services in 2021 totaled, $221,100.”

“The organization has its form 990 prepared by an outside accounting firm. It is then reviewed and approved by the organization's ceo, outsourced cfo 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 organization has a conflict of interest policy which applies to all trustees, officers, and employees of the organization of the oliver scholar's program, inc. (the organization). 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. 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 organization's finance committee is responsible for the determination of the salaries of the chief executive officer (ceo) and other key employees of the organization, 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 directors salaries are reviewed and approved by the finance committee. The process is contemporaneously documented in the minutes and was last conducted in 2021.”

“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.”

“Loss on uncollectible pledges -221,468.”

“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.”