The Foundation Schools

“There are no other committees that may act on behalf of the full board of directors.”

“The schools' outside accounting firm completes the tax return. It is first reviewed by the schools board of directors audit committee and then submitted to the full board of directors for review prior to submitting to the internal revenue service.”

“The conflict of interest policy covers board members and all employees of the schools. Each director, officer, and key employee is required to make and sign an annual statement that they are aware of and in compliance with the policy. The policy is actively enforced and monitored by officers of the schools. Officers have the responsibility to ensure that the schools goals are transparent in each transaction that the schools engage in. If a real or potential conflict arises, the interested party is precluded from voting in connection with the matter.”

“The foundation schools board of directors wants to ensure that total compensation and benefits are being reviewed in such a manner as to qualify for the rebuttable presumption of reasonableness as set forth under irc section 4958. The board of directors has named an executive compensation committee comprised of "disinterested" directors to oversee executive compensation. Responsibilities include: 1. The committee has engaged an independent compensation consultant or firm to conduct a market compensation study which would include surveys and review of publicly accessible federal form 990 information of comparable organizations. 2. A contemporaneous written record is made to document the committee's thoroughness and rationale for its decision. 3. Recommended compensation is presented by the committee to the full board of directors for approval. These procedures were last performed in 2015.”

“The schools' federal form 990, conflict of interest policy, financial statements and other governing documents are available to the public upon request.”

“Administrative contract services: program service expenses 2,745. Management and general expenses 69,330. Fundraising expenses 0. Total expenses 72,075. Dedicated aide contractors: program service expenses 848,326. Management and general expenses 0. Fundraising expenses 0. Total expenses 848,326. Instructional and clinical temporary personnel: program service expenses 553,628. Management and general expenses 0. Fundraising expenses 0. Total expenses 553,628. Speech and ot contractors: program service expenses 168,978. Management and general expenses 0. Fundraising expenses 0. Total expenses 168,978. Human resources recruitment and hiring expense: program service expenses 40,527. Management and general expenses 20,459. Fundraising expenses 122. Total expenses 61,108.”