The Broad Center

“The organization does not employ a chief finanical officer. The typical responsibilities of this role including finance, accounting and tax are handled by family office financial services, llc who provides finance, accounting, tax, human resources, it, public relations and other support services. In 2016, the organization paid family office financial services, llc $522,672 for financial services.”

“The board of directors has authorized the audit committee to approve the annual tax filings. A copy of the organization's form 990 is provided to the audit committee of the board of directors for review approximately 30 days prior to filing. The return is also made available to all members of the board for review prior to filing. After the audit committee has discussed and reviewed the return, and considered any comments from the other directors, the return is approved and filed.”

“An annual questionnaire is sent to each board member requiring them to state whether or not they have a reportable interest to disclose under the organization's conflict of interest policy. Disclosures are presented at subsequent board meetings.”

“To determine compensation for the organization's executive director, key employees, and officers, the executive committee of the board of directors meets to review their job responsibilites, related experience, compensation history, performance reviews, and comparability data from peer organizations compiled by an outside contractor. Minutes from this meeting are taken to document the committee's deliberation and decisions.”

“The organization's 1023, 990 and 990-t are available upon request and delivered electronically. Contact information is provided on page 6, part vi, section c., line 20.”

“The organization's audited financial statements are available upon request and delivered electronically. Contact information is provided on page 6, part vi, section c., line 20.”

“In 2016, the executive director received compensation for services in excess of $10,000 and therefore is not an independent voting member. Further information is provided as required on schedule j.”

“Marketing and communications: program service expenses 7,619. Management and general expenses 55,604. Fundraising expenses 0. Total expenses 63,223. Staff recruitment & training: program service expenses 256,796. Management and general expenses 59,071. Fundraising expenses 0. Total expenses 315,867. Program development & consulting: program service expenses 1,290,362. Management and general expenses 102,477. Fundraising expenses 0. Total expenses 1,392,839. Faculty and speakers: program service expenses 81,040. Management and general expenses 0. Fundraising expenses 0. Total expenses 81,040. Curriculum development: program service expenses 52,625. Management and general expenses 0. Fundraising expenses 0. Total expenses 52,625. Technology: program service expenses 0. Management and general expenses 23,167. Fundraising expenses 0. Total expenses 23,167. Leadership development: program service expenses 227,157. Management and general expenses 4,258. Fundraising expenses 0. Total expenses 231,415. Residency fees: program service expenses 214,649. Management and general expenses 0. Fundraising expenses 0. Total expenses 214,649. Other professional fees: program service expenses 62,932. Management and general expenses 20,594. Fundraising expenses 0. Total expenses 83,526.”

“Partnership pass through income 677,484.”

“While the eli and edythe broad foundation (eebf), a 501c3 private foundation, is currently the majority funder of the broad center for management of school systems (tbc) and eli broad founded both entities, they are not related organizations by definition. Eli broad is not an officer, director or employee of tbc. There is no parent/subsidiary, brother/sister or supporting/supported (under 509(a)(3) or 509(f)(3)) organization relationship. Neither organization has the power to remove and replace, or a continuing power to appoint or elect, a majority of the directors of the other organization. A board overlap does not exist where directors of one organization constitute the majority of the directors of the other organization. Furthermore, there are no financial dealings (i.e. Loans) between the two entities other than the grants from eebf to tbc. Tbc expends all grant funds from eebf within one year.”