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 outlined in the organizations strategic plan. The Executive Director submits an extensive self-assessment to the Board Chair and the Executive Committee of the Board of Directors. The Executive Committee of the Board meets with the Executive Director to review the assessment and track progress toward goals. Simultaneously, the Board engages in benchmarking salary guidelines across the sector in the region. The Executive Director is asked to develop an action plan and set goals on an annual basis. These goals are used to inform the annual performance review and compensation discussion. The salary of the Executive Director for fiscal year ending June 30, 2016 consists of base compensation in the amount of $150,720 and four months of severance compensation totaling $76,800, which is treated as taxable compensation and included in box 5 compensation on form W-2. The evaluation and review process for the sitting Executive Director repeats in the first quarter of each fiscal year that follows. In the fiscal year ending June 30, 2016 the Newark Trust for Education secured the services of an Interim Executive Director in consultation with the Support Center. The Support Center is a third party vendor hired by the Trust to provide consultation in the areas of Executive Search and Transition Management, and Interim Executive Referral, inclusive of recruitment, screening and negotiation. The Executive Committee of the Newark Trust for Education, selected an Interim Executive Director from a pool of candidates vetted by the Support Center for the specific needs articulated by the Trust in a scope of work. Each candidate was interviewed over the course of two days. During the first quarter of the fiscal year, a contract was executed between the Trust and the Interim Executive Director. This contract included a scope of work for the duration of the Interims consultation and articulated compensation comparable to the former Executive Directors salary. Compensation for the Interim was negotiated in consultation with the Support Center based on the expressed needs of the Newark Trust for Education and the scope of work outlined in the work agreement.”

“Description:other consulting total fees:52762”

“Description:interim ceo total fees:120400”