Center for Educational Innovation Inc

“A draft of irs form 990 was discussed and reviewed with the board of trustees' finance/audit committee. Subsequently it was provided to the full board of trustees for review, discussion, and notation of proposed changes. The cfo is responsible for the preparation of form 990, and presented the document to both the finance/audit and administrative committee and board of trustees. The independent accounting firm of loeb and troper also presented at the finance/audit and administrative committee and board meetings and responded to questions related to the information presented in the irs form 990. A final copy was distributed to all members of the board of trustees after the form 990 was submitted to the irs.”

“On an annual basis, any conflict of interest concerns are reviewed and resolved. All board members, officers, key employees, and program directors are required to complete, and sign, a disclosure statement, which is reviewed by the president and cfo. All real/potential conflicts will be addressed on a case-by-case basis with the member in conflict excused from voting. There were no situations of this nature for the 2017 fiscal year.”

“Compensation of cei's officers is based upon a compensation report. This was last prepared and presented for review in fiscal year 2017.”

“These documents are available upon request.”

“-facilitate collaboration between traditional public schools and independent charter schools.”

“Payroll service charges: program service expenses 0. Management and general expenses 12,955. Fundraising expenses 0. Total expenses 12,955. Program consulting services: program service expenses 0. Management and general expenses 55,172. Fundraising expenses 0. Total expenses 55,172. Public school consulting -consulting fee: program service expenses 276,999. Management and general expenses 0. Fundraising expenses 0. Total expenses 276,999. Tif/piccs- consulting fee: program service expenses 1,238,154. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,238,154. 21 century nysed-consulting fee: program service expenses 437,593. Management and general expenses 0. Fundraising expenses 0. Total expenses 437,593. Other programs-consulting fee: program service expenses 353,058. Management and general expenses 0. Fundraising expenses 0. Total expenses 353,058.”

“TRANSFERS -653,441.”

“This process has not changed from prior years.”

“In december 2015, cei established the center for educational innovation foundation (the "foundation"). In addition, in december 2015, cei became a donor-sponsored supporting organization of the morgan stanley global impact funding trust, inc., (the "trust"). The trust, in turn, established a donor advised fund on behalf of cei. Cei's executive director can recommend donations from the donor advised fund to public charities. Neither the foundation nor the donor advised fund are related to cei, and these, accordingly, have not been consolidated into or included within cei's financial statements. In 2017, cei transferred $100,000 to the donor advised fund. Morgan stanley invests the funds in the donor advised funds and the balance was $696,674 at june 30, 2017. The trust is the sole member of the foundation which was established to handle fundraising on behalf of cei. In 2017, cei transferred $553,441 to the foundation. In november 2016, the foundation held a gala on behalf of cei and the balance due to cei at june 30, 2017 for reimbursement of expenses paid on behalf of the foundation was $272,365. Morgan stanley invests the funds in the foundation on cei's behalf and the balance was $845,616 at june 30, 2017. Subsequent to year end, in december 2017, the $1,542,290 in the donor advised fund and the foundation at june 30, 2017 was transferred to cei. $272,365 was to reimburse cei for the expenses paid on the foundation's behalf and $1,269,925 was a grant to cei in fiscal 2018.”