Pave Schools Inc.

“Pave schools, inc. 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 management and is ready to be filed with the internal revenue service, it is electronically sent to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

“The conflict of interest policy is applicable to officers, trustees, board members and employees. The governing board requires all of the board members to verbally agree to receipt of the policy and compliance with said policy. The conflict of interest policy is shared with board members and with staff. Officers, directors and employees are expected to declare if at any point a conflict arises. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement.”

“Comparable data such as industry surveys are used when determining compensation for the organization's ceo, top management officials, officers or key employees, if any. Research is done into industry averages in both education and nonprofit space. Coo/cfo and managing directors salaries are decided by the ceo and ratified by the board chair. The ceo's salary is recommended by the coo/cfo to the board chair and then the board chair in collaboration with other members, makes the final decision and approves salary. Staff members are compensated as compared to industry averages in the education and non profit space. Approval is documented in the minutes of the board, annually before contract renewals. The review process was last undertaken in fy18.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request at 238 conover street, brooklyn, ny 11231, or by calling the organization directly at (718)858-7813.”

“The organization has a finance committee that is responsible for oversight of the audit and selection of the independent auditor. The process has not changed from the prior year.”