Teach for China Inc F/K/A China Education Initiative Inc

“Board member: xue fang and yan huo have a family relationship.”

“During fy2019, the organization discovered significant diversions of cash within its checking account in the amount of $38,778. The organization's finance department had communications with its bank representatives to recover the fraud payments, but were unsuccessful. The organization closed its checking account and transfer the balance into a new checking account at a different bank to prevent any future unauthorized activities. With the approval from the board, the organization wrote-off the fraud payments and treated them as bad debt expenses in fy2019.”

“There are currently no committees that is made up of the board members. The current board oversees all areas of the organization.”

“The finance department and compliance department will review the form 990 prepared by our outside accountants, and then will send the form 990 to the treasurer. After approval by the treasurer, the form 990 will be e-filed with the irs.”

“The organization's conflict of interest policy pertains to any director, officer, or committee member with board-delegated powers who has a direct or indirect financial interest through business, investments or family relationships in an actual or potential organizational transaction or arrangement involving ownership, investment, and/or compensation matters. All officers & directors are required to disclose any actual or possible conflicts of interest to the directors and members of the board committees when considering a proposed transaction or arrangement. Following disclosure, the interested person leaves the board or committee meeting while the remaining members deliberate and vote upon the existence of a conflict of interest. If needed, the board chairman or committee chairman may appoint a disinterested person to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board or board committee determines if an alternative to the possible conflict of interest is reasonable for the organization to adopt. If it is determined that an alternative is not plausible, the interested person remains recused from the meeting, and the remaining board or committee members will deliberate and vote on the transaction or arrangement. The minutes of the board or committee will contain the names of all officers and board members involved in the decision-making process, as well as the name of the interested person, nature of the conflict, board action taken and the resolution adopted. Members of the board annually sign a statement certifying that they have read, understood, and complied with the conflict of interest policy.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. It is posted on new york state attorney general website, 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 500 mamaroneck avenue, suite 301, harrison, ny 10528, or by calling the organization directly at 914-381-8900 or on our website www.tfchina.org.”

“In china today, where a child is born determines their educational prospect and therefore, life opportunities. Teach for china is working to elimitae educational inequality by enlisting the most promising leaders from china in the effort. By serving as teachers in low-income chinese schools and as alumni working in many sectors, these leaders will work to ensure that one day, all children in china enjoy access to a quality education.”

“In china today, where a child is born determines their educational prospect and therefore, life opportunities. Teach for china is working to elimitae educational inequality by enlisting the most promising leaders from china in the effort. By serving as teachers in low-income chinese schools and as alumni working in many sectorys, these leaders will work to ensure that one day, all children in china enjoy access to a quality education.”

“Foreign currency translation loss -356.”