National Academy Foundation

“The board member: robert dughi and the president: lisa dughi have a family relationship. The board member: sanford weill and board member: marc weill have a family relationship.”

“The return is prepared by an independent accounting firm based on information provided by the organization and in consultation with naf staff members. The return prepared by the accounting firm is then reviewed by the organization's finance department, as well as the finance and audit committees of the board of directors. The organization's form 990 is then provided electronically to the full board of directors before submission of the return to the internal revenue service.”

“Naf has a code of ethics/conflict of interest policy requiring all directors, officers and key persons to complete a conflict of interest policy letter annually. The letters are reviewed by the audit committee who determines if a conflict of interest exists. 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. Minutes of the meetings of the audit committee will record the names of the interested persons, nature of the conflict of interests, and the final decisions made regarding the conflict of interests.”

“Naf hired an independent compensation consultant to produce a salary survey in 2019. 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 nafs records. A compensation committee and the entire board of directors review and approve compensation for the ceo, as well as all other top management and key employees. This process was last undertaken in 2020.”

“Naf makes its form 990 and financial statements available for public inspection as required under section 6104 of the internal revenue code; the form 990 is available on the organization's website, guidestar.org, and other similar types of websites. In addition, the form 990 as well as the financial statements, governing documents, form 1023, and conflict of interest policy are available to the public upon written request at 218 west 40th street, 5th floor, new york, ny 10018.”

“Marketing/communications consulting fees: program service expenses 239,977. Management and general expenses 71,209. Fundraising expenses 32,770. Total expenses 343,956. Research consulting: program service expenses 158,222. Management and general expenses 46,950. Fundraising expenses 21,606. Total expenses 226,778. Naftrack fees: program service expenses 51,810. Management and general expenses 15,374. Fundraising expenses 7,075. Total expenses 74,259. Staffing: program service expenses 58,825. Management and general expenses 26,972. Fundraising expenses 44,485. Total expenses 130,282. Program service consulting fees: program service expenses 624,943. Management and general expenses 0. Fundraising expenses 0. Total expenses 624,943. Human resources: program service expenses 51,853. Management and general expenses 15,386. Fundraising expenses 7,081. Total expenses 74,320. Other consulting fees: program service expenses 0. Management and general expenses 0. Fundraising expenses 47,247. Total expenses 47,247. Strategy support: program service expenses 396,483. Management and general expenses 117,650. Fundraising expenses 54,141. Total expenses 568,274.”

“Loss on disposal of assets -106,047.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.”