Cleveland Hebrew Schools Educational Foundation

“Barry reis, sheila allenick, nancy hoffner and matthew kaliff have a business relationship. They are officers or employees of the jewish federation of cleveland, the supported organization. Donald frankel and rina frankel have a family relationship.”

“The sole voting member is the jewish federation of cleveland.”

“The federation as sole voting member elects all members of the board of trustees.”

“Under state law and the governing documents, the sole voting member must approve any changes in the governing documents, any dissolution action adopted by the board and any board approved sale or other disposition of substantially all of the foundation's assets.”

“Form 990 is emailed to each officer/trustee for review before filing. Form 990 is prepared by the supported organization's staff and then, before filing, is reviewed by one of the foundation's assistant treasurers (both of whom are also assistant treasurers of the supported organization). The circulated copy does not inlcude schedule b contributors, if any, or compensation paid by the supported organization. This information is made available upon request.”

“Every trustee, officer, board member, committee member and employee in a position to influence, provide non-public information or vote on foundation policies or expenditures, (a key individual) is required to sign a statement acknowledging and agreeing to the terms of the conflict of interest policy prior to employment or serving on the foundation board or key committee. The conflict of interest policy is reviewed with trustees annually at a foundation board meeting. In addition, any new key individual is provided a copy of the policy upon commencement of his or her position as a key individual and is required to sign and deliver to the foundation a statement acknowledging and agreeing to the terms of the policy. A copy of the policy is sent annually to all key individuals. The jewish federation of cleveland (supported organization) endowment department personnel are responsible for maintaining copies of signed statements and following up to ensure that a statement is obtained from each key individual. The assistant treasurer of the foundation (who is also cfo of the supported organization) is responsible for monitoring conflict situations, if any. If a board member has an interest in a transaction, he or she is required to disclose and not vote.”

“Form 990, part vi, section b, line 15a and 15b: not applicable. The foundation has no employees and does not compensate its trustees and/or officers and therefore does not maintain a process for determining compensation.”

“Governing documents, conflict of interest policy and financial statements are not made available to the public.”

“Adjustment to net assets-minimum pension liability 25,150.”

“Audited financials and audit committee: the foundation is included in the audited consolidated financial statements of the federation, the supported organization. The federation's audit committee, comprised of independent volunteers, recommends the independent accountants to the federation's board of trustees which must approve the appointment. The audit committee provides oversight of the audit and reviews the audited financial statements with staff and the independent accountants prior to issuance. The audit committee also meets independently with the independent accountants to review the audit process.”