Reach Education Inc.

“Patrick howard and loree lipstein have a business relationship.”

“The committees make recommendations to the full board, so they do not make any significant decisions outside of the full board.”

“The form 990 was prepared by the outside accountants and reviewed by senior management. Before filing with the irs, a final copy of the form 990 was then provided to the entire board, with a request for questions, comments and/or recommended changes or additions.”

“The conflict of interest policy is disseminated to the board annually, and board members are asked to acknowledge their compliance with the policy. To ensure that reach operates in a manner consistent with its charitable purposes and that it does not engage in activities that could jeopardize its status as an organization exempt from federal income tax, periodic reviews are conducted. The periodic reviews, at a minimum, include the following subjects: 1. Whether compensation arrangements and benefits are reasonable and are the result of arm's-length bargaining; 2. Whether acquisitions of provider services result in inurement or impermissible private benefit; 3. Whether partnerships, joint ventures, and arrangements with management conform to reach's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further reach's charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction. 4. Whether agreements to provide services and agreements with other organizations and their employees further reach's charitable purposes and do not result in inurement or impermissible private benefit.”

“Executive director's compensation is reviewed and approved by the board. Members of the board consult a salary survey of similar local organizations and base on executive director's annual performance review to determine the salary of the officer. A summary document and a final report are both prepared and approved by the board. The last compensation review was held on november 2020.”

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

“On april 28, 2020, the organization received loan proceeds in the amount of $104,600 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 organization intends to use the proceeds for purposes consistent with the paycheck protection program and believes that its use of the loan proceeds will meet the conditions for forgiveness of the loan. The organization intends to apply for forgiveness after completing the 24 week period.”