Read to Lead Inc

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by the treasurer and is ready to be filed with the internal revenue service, it is electronically sent to the audit committee for any comments. A copy of the form 990 is then emailed to the full board of directors for their review. The directors are asked to provide any comments or questions to the treasurer, which are reviewed and considered and the form 990 is updated accordingly, prior to filing with the irs.”

“The organization has a conflict of interest policy that applies to all directors, officers, and key persons. Such persons are required to disclose any actual or potential conflicts of interest annually and as they may arise to the compliance officer of the audit committee. The audit committee is responsible for determining whether a conflict of interest exists and whether or not to proceed with the transaction. The interested person is not permitted to vote on or exercise any influence on the decisions. The proceedings are documented in the minutes of the meeting.”

“The compensation of read to lead, inc.'s executive director is determined by the compensation committee, one of the governing committees of the board of directors. The compensation committee of the board is responsible for: 1) approving year-end compensation decisions for the organization including merit increases and bonuses; 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. The committee reviews compensation of comparable nonprofit organizations, economic conditions of the marketplace and individual performance to determine compensation. The committee meets as necessary, but at least once a year, to review all employees' compensation, and the deliberations and decisions are documented in the minutes of the meeting. The process was last undertaken in 2021.”

“Read to lead, inc. Posts its audited financial statements and form 990 on its website, provides copies on request, and makes them available for inspection at the read to lead, inc.'s office. The form 990 is also available on guidestar.org and other similar types of websites. The organization makes its governing documents and conflict of interest policy available upon request.”

“The organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration and workforce regulatory compliance needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”

“Other honoraria: program service expenses 1,067. Management and general expenses 848. Fundraising expenses 2,086. Total expenses 4,001. Program consultants/others: program service expenses 125,272. Management and general expenses 177,217. Fundraising expenses 43,080. Total expenses 345,569. Subcontractors: program service expenses 41,592. Management and general expenses 0. Fundraising expenses 0. Total expenses 41,592. Recruiting & hiring: program service expenses 51,154. Management and general expenses 5,907. Fundraising expenses 6,178. Total expenses 63,239. Peo fees: program service expenses 61,295. Management and general expenses 13,203. Fundraising expenses 6,553. Total expenses 81,051.”

“Write-off of uncollectible pledges -745,675. Impairment of product development costs -1,814,119.”

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