National Academy Foundation

“Business and family relationships andy bessette, business relationship - executive officer of the travelers companies, inc. Andy bessette is the chief administrative officer. The insurance was negotiated with an independent third party insurance broker at arm's length and in the normal course of business. The total amount of the insurance premium did not exceed $35,000. This amount is not material to naf or the travelers companies, inc. And falls below the applicable threshold for reporting on schedule l.”

“Form 990 review the return is prepared by an independent accounting firm based on information provided by the company and in consultation with national academy foundation staff members. The draft prepared by the accounting firm is then reviewed by the company's finance department, and the finance and audit committee of the board of directors. The final version of the organization's form 990 is then provided to the full board of directors after submission of the return to the internal revenue service.”

“Conflict of interest policy national academy foundation has a code of ethics/conflict of interest policy requiring all employees and board members to complete a conflict of interest policy letter annually. The staff letters are reviewed and maintained by the cfo. The board letters are reviewed by the ceo and chairman of the board. In the event of a conflict of interest, the board of directors determines the appropriate actions required, including preventing the individual from participating in discussion and decisions regarding the matter.”

“Compensation naf hired an independent compensation consultant to produce a salary survey in 2013. Naf has set compensation for senior management within the range of the going market rate for functionally comparable positions held by individuals with similar experience levels at similarly situated organizations. Documentation is maintained in naf's records. The full board of directors reviews and approves the president's compensation. Naf's conflict of interest policy would preclude any individuals having a conflict of interest from being involved in determining compensation.”

“Documents available to the public national academy foundation does not currently make its governing documents, conflict of interest policy, or financial statements available to the public.”

“Organization's mission national academy foundation strengthens and expands the pool of high school graduates prepared to enter the workforce. The foundation serves over 500 academies located in school districts nationwide, specializing in hospitality and tourism, finance, health sciences, information technology, and engineering. The foundation creates program goals and produces curriculum for national distribution to the academies and provides teacher training and on-site assistance to the academies, with a specialization in connecting academies to the business world through a model that offers paid internships to students and advisory boards made up of local professionals. Part iii, line 4d other program services the academy of hospitality and tourism helps students chart career paths in one of the world's largest industries, from hotel management to sports, entertainment, and event management, and includes the study of geography, economics, and world cultures. The academy of hospitality and tourism curriculum has received industry validation from the global travel and tourism partnership (gttp) and the instiute of travel and tourism (itt). The academy of health sciences addresses the critical achievement gap in stem fields and develops a pipeline of students prepared to pursue health-related degrees and professions in one of the fastest growing sectors of the economy, including biotechnology, genetics, nursing, therapeutics, and diagnostics.”