Dreams for Schools

“1. Procedure for preparation and review of form 990. The organization's executive director is responsible for the timely preparation of the form 990. The organization's executive director may confer with accountant's and legal counsel of the organization with respect to drafts of the form 990.any questions or concerns will be noted and addressed, and the executive director shall ensure that any appropriate changes are incorporated into the form 990, which then shall be signed by the executive director or other authorized officer of the organization. Ii. Filing of form 990 (with possible prior distribution to the governing body). The form 990 shall then be filed with the irs on a timely basis; provided, if management considers it feasible and appropriate under the circumstances, it may distribute the final version of the form 990 (with required schedules) to every voting member of the organization's board of directors prior to filing with the internal revenue service. The final form may be distributed either in paper or electronic form in any manner deemed appropriate by the organization's executive director. Iii. Distribution of form 990 to all members of governing body. A copy of the filed form 990, if the final version was not circulated prior to filing, shall be circulated to the board of directors as promptly as reasonably practical after the filing, and in no case later than its next regular meeting following such filing. For the manner of distribution, see ii above.”

“Procedures for addressing the conflict of interest: a. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of (and voted on) the transaction or arrangement involving the possible conflict of interest. B. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. After excercising due diligence, the governing board or committee shall determine whether dreams for schools can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. D. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in dreams for schools' best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its sdecision as to whether to enter into the transaction or arrangment.”

“The executive director of dreams for schools (the "nonprofit") is the principal representative of dreams for schools, and the person responsible for the efficient operation of the non profit. Therefore, it is the desire of the nonprofit to provide a fair yet reasonable and not excessive compensation for the executive director (and any other highly compensated employees and consultants). The annual process for determining compensation is as follows: the nonprofit shall utilize the executive committee of the board to annually evaluate the executive director on his/her performance, and ask for his/her input on matters of performance and compensation. Board approval: the executive committee will obtain research and information to make a recommendation to the full board for the compensation (salary and benefits) of the executive director (and other highly compensated employees or consultants) based on a review of comparability data. For example, executive committee will secure data that documents compensation levels and benefits for similarly qualified individuals in comparable positions at similar organizations. This data may include the following: 1. Salary and benefit compensation studies by independent sources; 2. Written job offers for positions at similar organizations; 3. Documented telephone calls about similar positions at nonprofit and for-profit orgs. 4. Information obtained from the irs form 990 filings. Concurrent documentation: to approve the compensation for the executive director (and other highly compensated employees and consultants), the board must document how it reached its decisions, including the data on which it relied, in minutes of the meeting during which the compensation was approved. Documentation will include: a. A description of the compensation and benefits and the date it was approved; b. The members of the board who were present during the discussion about compensation and benefits, and the results of the vote; c. A description of the comparibility data relied upon and how the data was obtained; and d. Any actions taken (such as abstaining from discussion and vote) with respect to consideration of the compensation by anyone who is otherwise a member of the board but who had a conflict of interest with respect to the decision on the compensation and benefits. Independence in setting compensation: the chair of the board of directors, who is a volunteer and not compensated by the nonprofit, will operate independently without undue influence from the executive director. No member of the executive committee will be a staff member, the relative of a staff member, or have any relationship with staff that could present a conflict of interest.”

“GUIDESTAR - UPON REQUEST Governing documents, etc, available to public (Part VI, line 19) NO OTHER DOCUMENTS AVAILABLE TO THE PUBLIC”

“Violations of the conflicts of interest policy a. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. B. If after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take the appropriate disciplinary and corrective action.”