Grantmakers for Education

“The board finance and administration committee received a copy of the form 990 via email. The filing was then reviewed and discussed with the managing director during a committee meeting. A copy of the return was made available to the full board of directors for review prior to filing and was discussed during a board meeting in a conversation led by the board treasurer.”

“Board and staff members complete and sign a questionnaire annually to identify any actual or potential conflicts of interest. The information contained in this form will determine if any actual conflict of interest exists. Edfunders policy requires the board to obtain disclosure of the financial interest and or all material facts, and to determine (in the absence of the interested party) whether a conflict exists. Edfunders policy outlines a set of procedures for addressing any conflicts that are determined.”

“An annual review of the executive director is conducted by the executive committee of the board. The executive committee conducts a comparative executive salary review, benchmarking peer organizations and reviewing organizational salary history, as well as performance review findings to develop a compensation recommendation. The executive committee's recommendation is presented to the full board for final approval.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is also posted on guidestar.org and other similar types of websites. In addition, the organization makes its governing documents available to the public by providing copies upon request.”

“Purchased services: program service expenses 477,537. Management and general expenses 0. Fundraising expenses 0. Total expenses 477,537. Consultants: program service expenses 39,424. Management and general expenses 16,030. Fundraising expenses 7,850. Total expenses 63,304. Speaker fees: program service expenses 96,554. Management and general expenses 0. Fundraising expenses 0. Total expenses 96,554. Communications: program service expenses 29,884. Management and general expenses 12,151. Fundraising expenses 5,950. Total expenses 47,985. Conference management: program service expenses 21,451. Management and general expenses 8,723. Fundraising expenses 4,271. Total expenses 34,445. Benchmarking: program service expenses 16,815. Management and general expenses 6,837. Fundraising expenses 3,348. Total expenses 27,000. Payroll services: program service expenses 3,740. Management and general expenses 1,521. Fundraising expenses 745. Total expenses 6,006.”

“The board finance committee is responsible for oversight of the audit and compilation of the organization's financial statements. The entire board is responsible for the selection of an independent accountant to conduct the annual audit.”