Leadership Conference Education Fund Inc.

“The committees of the board of directors do not have authority to act on behalf of the governing body. The committees bring recomendations to the full board for consideration. Therefore, documentation of committee activity is handled through the minutes of the board.”

“The leadership conference education fund's form 990 is reviewed in its entirety by management and the audit committee in consulation with the independent auditors. A complete copy is given to all members of the board before filing. Board members are encouraged to review the 990 and submit questions or comments to the audit committee for clarification. Upon review and applicable adjustments, the 990 is then filed with the internal revenue service.”

“Board members review and sign the conflict of interest policy annually. It is the responsibility of each board director to immediately disclose in writing to the board chair the existence of any conflict of interest. It is the duty of the education funds board of directors to decide whether such individual may participate in any discussions or vote on the issue that has given rise to the conflict. Board directors must withdraw from participation in any way in decisions in which they have a financial or material interest. Board directors who have a conflict of interest shall not participate in any discussion regarding the issue during any education fund meeting. Should a board director be found to have a conflict of interest that has not been disclosed to the board as required, the board may: a) require the director to provide full disclosure of the nature of the conflict of interest; b) remove said director from the board; c) take other actions as deemed appropriate.”

“The process for compensation approval includes annual cost of living adjustments for employees, merit increases, and periodic increases to ensure equity among staff and the market for the not-for-profit sector. One-time adjustments are based on third party consultation resulting in market analysis of salaries in the not-for-profit sector in washington, dc. Salary ranges and specific salaries for the president are set by the board of directors. The board has a standing committee for personnel issues. The last compensation review was conducted by the board in january of 2019. All other staff salaries are set by the president and coo under advice of a salary study and third party consultation.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Subcontractors: program service expenses 2,938,270. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,938,270. Recruiting: program service expenses 157,829. Management and general expenses 20,514. Fundraising expenses 670. Total expenses 179,013. Consulting: program service expenses 5,323,323. Management and general expenses 655,769. Fundraising expenses 22,607. Total expenses 6,001,699. Temporary agency support: program service expenses 182,786. Management and general expenses 23,757. Fundraising expenses 776. Total expenses 207,319. Digital-podcast: program service expenses 193,181. Management and general expenses 25,108. Fundraising expenses 820. Total expenses 219,109. Online services: program service expenses 43,389. Management and general expenses 5,639. Fundraising expenses 184. Total expenses 49,212.”

“On may 7, 2020, the education fund received loan proceeds in the amount of $1,064,400 under the paycheck protection program. The promissory note calls for monthly principal and interest payments amortized over the term of the promissory note with a deferral of payments for the first six months. Under the coronavirus aid, relief, and economic security act (cares act), the promissory note may be forgiven by the small business administration in whole or in part. The education fund has used the proceeds for purposes consistent with the paycheck protection program. Subsequent to year-end, the loan was forgiven, and accordingly, the education fund will record revenue from debt extinguishments during the year ending december 31, 2021.”

“Although not related for form 990 reporting purposes, the education fund is reporting the following information about the leadership conference on civil and human rights, inc.: address: 1620 l street, nw, suite 1100, washington, dc 20036 ein: 52-0789800 primary activity: to promote the enactment and enforcement of effective civil rights legislation and policy legal domicile: washington, dc exempt code section: 501(c)(4) direct controlling entity: n/a transactions: the education fund shares employees and office space with the leadership conference pursuant to a services and facilities agreement. All federal employment tax returns are filed by the education fund on behalf of both organizations. The leadership conference pays its portion of payroll services through regular reimbursements. The education fund received payments of $1,952,588 from the leadership conference for shared expenses during the year. Form 990, part vii, section a: pursuant to the above cost sharing agreement, the leadership conference reimbursed the education fund for officer compensation as follows: vanita gupta: $16,055 compensation, $842 benefits monica woods: $27,098 compensation, $1,981 benefits in addition, the leadership conference reimbursed the education fund for key employees: $273,211 compensation, $12,895 benefits and highest compensated employees (hces): $164,618 compensation, $2,479 benefits. Key employees and hces are included for disclosure in part vii when total w-2 compensation meets the reporting guidelines before allocating the leadership conference's reimbursed portion.”