Newark Trust for Education Inc

“The form 990 is prepared by an independent accounting firm and reviewed by MANAGEMENT. A draft of the Form 990 is provided to the board for review and approval pRIOR TO FILING OF THE FORM 990”

“THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY That PROTECTs the trust WHEN IT IS CONTEMPLATING ENTERING INTO Any TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN OFFICER OR DIRECTOR OF THE ORGANIZATION OR MIGHT RESULT IN A POSSIBLE EXCESs BENEFIT TRANSACTION. BOARD MEMBERS AND EXECUTIVES ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE DISCLOSING A CONFLICT, IF APPLICABLE.”

“It is the responsibility of all representatives to report ethics violations or suspected violations in accordance with this Whistleblower Policy.”

“THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AND they are also AVAILABLE ON GUIDESTAR.org.”

“The board of directors formal evaluation of the executive director is based upon the goals outlines in the Organization's strategic plan. Conducted bi-annually, the executive director submitted an extensive self-assessment to the board chair and the executive committee of the board of directors. The executive committee of the board met with the executive director to review the assessment and track progress toward goals. The full governing board as well as additional stakeholders, as deemed appropriate, are surveyed to add evidence and comment on performance. Comments are transcribed and patterns are identified that illustrate areas of strength and areas for growth. This information was shared with the executive director and the entire board of directors in July 2012. The entire process repeats in the first quarter of each fiscal year that follows. Simultaneously, the board engages in benchmarking salary guidelines across the sector in the region. The council of New Jersey grant makers and other non-profit entities were consulted for salary guides. The executive director was then asked to develop an action plan and set goals for the following cycle. These goals will be sued to inform the next annual performance review and compensation discussion. The salary of the executive director consists of base compensation of $180,000 and a 28 percent benefit allowance which is treated as taxable compensation and included in box 5 compensation on form W-2.”

“THE ORGANIZATION HAD grant funding that was returned to the funding source of $100,000 DURING THE YEAR ENDED JUNE 30, 2015.”