The Teaching Channel

“On april 10, 2017 the organization entered into an asset purchase agreement (the "agreement") with teaching channel, inc., a delaware corporation, (the "corporation") whereby the corporation purchased all of the assets and assumed all of the liabilities of the organization as of july 14, 2017, the closing date of the agreement, for a total purchase price of $2,000,000. The organization recognized a gain of $1,949,782 as a result of the agreement. Subsequent to the closing of the agreement, and effective july 21, 2017, the organization amended its articles of incorporation, changing its legal name from the teaching channel to tch legacy, inc. On october 26, 2017, and after approval by the organization's board of directors, tch legacy, inc. Requested from the california attorney general a dissolution waiver of objections letter for the planned dissolution of tch legacy, inc. The state of california secretary of state filed the nonprofit certificate of dissolution for tch legacy, inc. On december 20, 2017, the effective date of the organization's dissolution.”

“A draft of the tax return is provided to the coo to proof-read. Once final, a final draft is provided to the entire board to review.”

“Each director, principal officer, and member of a committee with governing board delegated powers shall annually sign a statement affirming that they agree to comply and understand the conflict of interest policy.”

“The compensation committee within the board of directors approves the compensation/compensation changes for officers. The committee meets on a need-be basis to make decisions. Committee approves salaries for ceo, coo, and chief content officer. Decision based on comparable compensation in similar industry/position. Last compensation adjustment approved by committee for ceo and coo was july 2015.”

“Governing documents, conflict of interest policy, and financial statements are available upon request.”

“Hr processing fee: program service expenses 10,303. Management and general expenses 4,498. Fundraising expenses 291. Total expenses 15,092. Subcontractor fees (idc allowed): program service expenses 23,121. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,121. General consulting: program service expenses 457,137. Management and general expenses 67,976. Fundraising expenses 39,410. Total expenses 564,523.”

“The process has not changed from prior year.”