Children First Foundation

“The organization has delegated bookkeeping and daily operational duties to edkey inc., a related nonprofit charter school management organization.”

“Treasurer of the organization distributes a pdf copy of form 990 to all board members for review and comment prior to being filed.”

“At each board and committee meeting, if there is a discussion of selecting or engaging a vendor or service provider, all in attendance are asked to recuse themselves from this discussion if there could be a perceived conflict. Annually, the organization reviews and discusses the conflict of interest policy and requests that each board member list and acknowledge any know conflicts.”

“The organization does not currently have any paid officers. However, a compensation policy is in place that would require the board as whole, or the executive committee, to review the compensation for all officers or key employees by comparing their compensation to the compensation of individuals in like positions in comparable organizations using forms 990, compensation studies, and other available data. The board or committee would then approve any changes to the compensation agreement based on this information.”

“The organization will provide, in a timely manner, financial statements and governing documents including its conflict of interest policies when requested in writing or in person.”

“The organization is in a common paymaster relationship with its related entity edkey, inc. Edkey, inc is the employer of record, filing all pertinent tax documents on a quarterly and annual basis as needed including making required tax deposits. Although the organization did not file any w2s or payroll reports directly, individuals that meet the definition of a common law employee are listed on form 990, part 1, line 5 and form 990, part v, line 2a. In addition, their compensation is reflected on form 990 part ix, line 7 as instructed per irs guidelines.”