Great Minds

“The governing body reviews and approves a draft of the 990. The governing body is provided with a copy of the 990 via electronic transmittal prior to submission of the form to the irs.”

“4a. In connection with any actual or possible conflict of interest, an interested person discloses the existence of the financial interest and is given an opportunity to disclose all material facts to the directors and members of the committees with governing board-delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after discussion with the interested person, he/she leaves the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members decide if a conflict of interest exists. Violation of the conflicts of interest policy: 4b. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it informs the member of the basis for such belief and affords the member an opportunity to explain the alleged failure to disclose. 4a. In connection with any actual or possible conflict of interest, an interested person discloses the existence of the financial interest and is given an opportunity to disclose all material facts to the directors and members of the committees with governing board-delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after discussion with the interested person, he/she leaves the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members determine whether a conflict of interest exists. Violation of the conflicts of interest policy: 4b. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it informs the member of the basis for such belief and affords the member an opportunity to explain the alleged failure to disclose. 4c. If, after hearing the member's response and after making further investigation as warranted by the circumstance, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it takes appropriate disciplinary and corrective action.”

“The executive director is not compensated by the organization for her service as executive director. The executive director is compensated by great minds pbc, the organization's wholly owned subsidiary, for service as its chief executive officer. Compensation of key members of great minds pbc management is approved in advance by the compensation committee of great minds pbc. The compensation committee of great minds pbc obtains and relies on appropriate data as to comparability prior to making its decision, and its determination is documented in the minutes of the board of directors of great minds pbc. The compensation committee of the board of directors of great minds pbc is composed entirely of independent members of the board of directors who do not have a conflict of interest. Great minds pbc senior managements' 2020 compensation was based on an assessment by an independent consulting firm.”

“The organization makes the latest version of its governing documents and conflict of interest policy available upon request.”

“Our great minds schools program focuses on three primary pillars of student growth: knowledge building, student discourse, and empowering student leadership. We know that every child is capable of greatness in both personal and academic growth, through a knowledge-rich curriculum that fosters student discourse, inquiry, and a sense of wonder. We are committed to creating professional development structures and schedules for all teachers and support staff. We ensure high-quality curriculum materials are provided for all core content areas and are delivered with integrity. Parents/guardian involvement and support is increased through targeted partnership events and activities. In collaboration with research partners, comprehensive strategies are developed to support student development and shared with schools across the world.”

“As is described in schedule n, the organization transferred certain assets and programs to great minds pbc, effective january 1, 2020, in exchange for all of the stock of great minds pbc. Pursuant to the great minds pbc certificate of incorporation, its specific public benefit purpose "is to improve prekindergarten through twelfth grade education by supporting teachers with best-in-class curriculum materials and implementation products and services in mathematics, english, science, history, and other subjects. Best-in-class curriculum is knowledge-driven, coherent, and uses research-based instructional methods that are proven to work for all learners, including but not limited to striving readers, students with dyslexia, and english language learners." great minds pbc shares the same public-based mission as the organization. Many of the program services directly conducted by the organization prior to 2020 are now conducted indirectly by the organization through great minds pbc. These include the operation of the curriculum business, including support of knowledge-rich education in the full range of the liberal arts and sciences including english, mathematics, science, and social studies. Great minds pbc works with teachers and scholars to create instructional materials, provide professional development and implementation services, conduct research, and promote policies that support a comprehensive and high-quality education in america's schools. Great minds pbc is the creator of the eureka math, eureka math2, wit & wisdom, and phd science curricula.”

“The organization did not pay a section 4960 excise tax. Instead, the tax was paid by great minds pbc, the organization's subsidiary and related organization, with respect to compensation paid by great minds pbc to employees of great minds pbc. Great minds pbc filed a form 4720 reporting and paying the excise tax. Per the form 990 instructions to part v, line 15, great minds checked this box "yes" because the compensation and excise tax was paid by a related organization.”

“Other professional fees: program service expenses 3,814. Management and general expenses 168,320. Fundraising expenses 0. Total expenses 172,134.”

“Equity loss on great minds pbc operations for year ending 12/31/2020 -17,153,620. Disitributions 10,315,989.”