Knowledgeworks Foundation

“Certain KnowledgeWorks Foundation board members are also members of the boards of certain KnowledgeWorks Foundation affiliates. These overlapping board memberships constitute a "business relationship" as defined by the Form 990 instructions.”

“KnowledgeWorks Foundation contracted with Nelnet to administer its student lending programs.”

“During the tax year, KnowledgeWorks amended its regulations to break out the Operations Committee into the Finance and Investment Committee and the Human Resources and Compensation Committee.”

“After completion by the preparer, the draft Form 990 is reviewed by the Accounting Director and the COO/VP of Finance. The final draft of the Form 990 is reviewed with the Audit Committee. After it receives the approval of the Audit Committee, the final Form 990 is distributed to all members of the Board of Directors before it is filed.”

“On an annual basis a Conflict of Interest questionnaire is completed by directors, officers and key employees and reviewed by management. Items reported are discussed with Legal Counsel, who advises management and the board of any required actions. The Conflict of Interest Policy is distributed with the annual questionnaire and is also accessible on the secure director's portion of the Foundation's website.”

“The compensation of the CEO, other officers, and key employees are set by the Compensation Committee of the Board of Directors utilizing a compensation study performed by an independent compensation consulting firm comparing similar positions in similar organizations, including review of Form 990s for other organizations. Members of the Board of Directors have in the past received reasonable compensation for their services as members of the Board of Directors.”

“The consolidated financial statements of KnowledgeWorks Foundation and its subsidiaries are available on the KnowledgeWorks Foundation website. KnowledgeWorks Foundation's Form 990 is also available on its own website. The governing documents and Conflict of Interest policy are available upon request.”

“Business Consultants: Program service expenses 0. Management and general expenses 119,079. Fundraising expenses 0. Total expenses 119,079. Marketing & Communications: Program service expenses 20,570. Management and general expenses 109,715. Fundraising expenses 0. Total expenses 130,285. Payroll & Benefits: Program service expenses 0. Management and general expenses 17,681. Fundraising expenses 0. Total expenses 17,681. Technology: Program service expenses 38,720. Management and general expenses 2,000. Fundraising expenses 0. Total expenses 40,720. Advocacy: Program service expenses 314,608. Management and general expenses 0. Fundraising expenses 0. Total expenses 314,608. Data & Evaluation: Program service expenses 425,402. Management and general expenses 0. Fundraising expenses 0. Total expenses 425,402. Teaching & Learning Consultants: Program service expenses 490,377. Management and general expenses 0. Fundraising expenses 0. Total expenses 490,377. StrivePartnership School Coaches: Program service expenses 32,123. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,123. Strategic Foresight Consulting: Program service expenses 85,714. Management and general expenses 0. Fundraising expenses 0. Total expenses 85,714. Other: Program service expenses 6,098. Management and general expenses 50. Fundraising expenses 0. Total expenses 6,148.”

“Unrealized loss on liability for student loan residual -829,141. Amortization of discount on student loans 547,954. Transfer from Tax-Exempt Subsidiary - KWI 7,781,853.”