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 2021. 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 2021.”

“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 98,234. Management and general expenses 49,117. Fundraising expenses 49,117. Total expenses 196,468. Research consulting: program service expenses 539,394. Management and general expenses 0. Fundraising expenses 0. Total expenses 539,394. Naftrack fees: program service expenses 344,406. Management and general expenses 0. Fundraising expenses 0. Total expenses 344,406. Program service consulting fees: program service expenses 1,166,306. Management and general expenses 0. Fundraising expenses 254,879. Total expenses 1,421,185. Human resources: program service expenses 0. Management and general expenses 141,762. Fundraising expenses 0. Total expenses 141,762. Other consulting fees: program service expenses 538,979. Management and general expenses 309,186. Fundraising expenses 0. Total expenses 848,165. Strategy support: program service expenses 0. Management and general expenses 185,225. Fundraising expenses 0. Total expenses 185,225.”

“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.”