Read to Lead Inc

“The by-laws have been updated to reflect recent new york not-for-profit corporation law ("npcl") changes and additionally to make certain operational and clarifying changes: - the by-laws clarify that a majority of the members of any committee of the board constitutes a quorum of such committee; that a majority of the members of a committee, whether or not a quorum is present, may adjourn a committee meeting; and that a committee can act by vote of a majority of the committee members present at the time of the vote, a quorum being present. - the by-laws provide (reflecting the law under npcl) that any director or committee member who is present at a meeting but not present at the time of a vote due to a conflict of interest or related-party transaction, will be deemed present at the time of a vote. - the requirement that the creation of a committee requires a majority vote of the entire board has been eliminated, following recent npcl changes; provided that the creation of an executive committee or other similar committee still requires a majority vote of the entire board. - in contexts where board or committee members are acting by unanimous written consent without a meeting, such members may consent in writing or transmit their consent electronically to the adoption of a resolution authorizing action; whereas previously the by-laws did not explicitly permit electronic transmission of written consent. - the by-laws permit an employee of the company to serve as chairman of the board, provided that the board approves such employee by a two-thirds vote of the entire board and contemporaneously documents in writing the basis for board approval. Under the pre-existing by-laws employees may not serve as chairman of the board under any circumstance”

“The director of finance and administration reviewed the draft 990, which was then emailed to the audit committee for review. Once any updates or changes are made, the latest draft is then emailed to the full board of directors for their review. The directors are asked to provide any questions or comments to the director of finance and administration and the treasurer by email. Upon review and consideration of any comments, the form 990 is updated before it is filed with the irs.”

“The audit committee and compliance officer monitor and enforce compliance with the conflict of interest policy. The board members, officers, and key persons who are considered able to influence a decision concerning classroom inc.'s operations (an "interested person") are required to disclose any actual or potential conflict of interest. All such persons are required to review and complete a compliance statement annually. Classroom, inc. Has not come across any conflict of interest situations. All conflicts and potential conflicts are to be disclosed to the compliance officer and then resolved by the audit committee. In the event a conflict of interest arises, the interested person will not be permitted to vote or exercise any influence on the issue on which they have a conflict.”

“The compensation of classroom, inc.'s ceo/president is determined by the compensation committee, one of the governing committees of the board of directors. The compensation committee of the board shall be responsible for: 1. Approving year-end compensation decisions for the organization including merit increases and bonuses; and 2. Approving annual compensation for employees in excess of $125,000; and 3. Approving any material changes in compensation programs such as qualified retirement plans, medical, etc. Officers and key employees include all employees holding positions of senior director and above. The compensation committee is chaired by an independent voting member of the board, and consists of other independent voting members of the board and the president. The president is not involved in the decision making of her own compensation. The committee reviews compensation of comparable nonprofit organizations, economic conditions of the marketplace and individual performances to determine compensation. The committee meets as necessary, but at least once a year, to review all employees' compensation and is documented by meeting minutes in writing. The process was last undertaken in june 2018.”

“Classroom, inc. Posts its audited financial statements and form 990 on its website, provides copies on request, and they are available for inspection at classroom, inc.'s office. Form 990 is also posted on guidestar.org and other similar types of websites. Classroom, inc. Provides copies of the governing documents and conflict of interest policy on request, and they are available for inspection at classroom, inc., office.”

“Program consultants/others: program service expenses 488,124. Management and general expenses 189,523. Fundraising expenses 36,252. Total expenses 713,899. Other honoraria: program service expenses 1,794. Management and general expenses 4. Fundraising expenses 217. Total expenses 2,015.”

“Write-off of product supply inventory -20,237.”

“The process for assuming responsibility over the audit of classroom, inc. And for the selection of an independent accountant has not changed from prior years.”