Scholar Athletes Inc

“The chair of the board, john fish, has business relationships with vice chair, linda dorcena forry.”

“The form 990 is reviewed by members of the executive committee prior to its filing. The full board is provided with finalized copies post filing of the form 990.”

“The purpose of the conflict of interest policy is to protect the interest of scholar athletes, inc. When it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the company or might result in a possible excess benefit transaction. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations. Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a. Has received a copy of the conflicts of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy, and d. Understands the company is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave 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 shall decide if a conflict of interest exists.”

“The organization makes its governing documents, form 990, and financial statements available to the public upon request for the same period of disclosure as set forth in section 6104(d). In addition the form 990 without schedule b is available via guidestar and the massachusets attorney general's website.”

“In february 2021, the organization's board of directors (bod) formally approved dissolution of the organization as required by and in accordance with the organization's articles of organization. The decision to dissolve the organization stems from the covid-19 pandemic impacting the organization's ability to execute its mission, primarily due to the pandemic having restricted in-person learning in the school systems in which the organization was present. As a result, the bod determined that the organization was no longer able to operate in an effective manner. Management of the organization, under the direction and supervision of the bod, has formulated a wind down plan to wrap up the affairs of the organization (the plan). The plan abides by the provisions for dissolution as provided for in the organization's articles of organization. Execution of the plan began during the year ended august 31, 2021, and continued during fiscal year ended august 31, 2022. The organization converted all available assets into cash, settling all outstanding obligations and expending any remaining net assets in accordance with the organization's purpose, much of which has occurred as of august 31, 2021. The president of the organization has committed to fund any net asset deficit that exists at the time of final dissolution of the organization. The plan provided for the organization to formally file with the massachusetts attorney general's office (ma ag) and seek approval for dissolution. In connection with the filing, management prepared and provided a disbursement schedule to the ma ag, outlining the final flow of funds, whereby no remaining assets, liabilities or net assets will remain as of the date of dissolution. The organization has fully dissolved as of the end of the fiscal year ending august 31, 2022. Attached to the form 990 please find a copy of the certificate of board action to dissolve and a copy of the dissolution petition filed with the state.”