Chicago Public Education Fund

“The President and CEO reviews the completed Form 990, and then it is emailed in final form to the Governance, Operations, Finance and Audit Committee, as well as to the entire Board of Directors, for their review and comments prior to filing with the IRS.”

“Officers, directors, and key employees complete a questionnaire to disclose annually any business transactions or relationships they or a family member may have had with The Fund or any of its officers, directors, or key employees. Potential conflicts noted in the responses are passed along to the President & CEO for review and, when necessary, referred to the Executive Committee for their consideration. In addition to the required annual conflict of interest questionnaire, The Fund's Board of Directors' policy covering conflicts of interest provides that directors and staff have the responsibility to immediately disclose potential conflicts of interest and refrain from influencing other directors or staff in relation to those matters. If a potential or actual conflict arises, directors also have the responsibility to recuse themselves at an appropriate time. Directors, staff and their immediate family members cannot realize any direct or indirect personal financial benefit from a Fund investment.”

“The Executive Committee of the Board is responsible for reviewing and approving the compensation package for the President and CEO. The determination of the appropriate level of compensation included a review of compensation levels for the equivalent positions at comparable organizations, through review of Form 990s and survey data produced by national and regional industry associations. For other staff salaries, a review of compensation levels at comparable organizations was conducted by the CEO, and her recommendations for salary adjustments were reviewed by the Governance, Operations, Finance and Audit Committee in conjunction with the annual budget planning process. The process for determining the compensation is documented.”

“Financial statements for recent fiscal years are available to the public on The Fund's website. Also, the governing documents, conflict of interest policy and financial statements are available upon request for the same period of disclosure as set forth in IRC Section 6104(d).”

“Consultants: Program service expenses 21,000. Management and general expenses 68,850. Fundraising expenses 0. Total expenses 89,850. Clerical Temps: Program service expenses 0. Management and general expenses 552. Fundraising expenses 0. Total expenses 552. Program Service Fees: Program service expenses 1,654,763. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,654,763.”

“Loss on uncollectible pledges -375,521.”