Peo Educational Loan Fund

“The president of the related parent organization, International Chapter of the P.E.O. Sisterhood, recommends the board of trustees for the organization. Those recommendations are then approved by the Executive Board of International Chapter of the P.E.O. Sisterhood.”

“Some decisions of the board of trustees are subject to approval by the executive board of the parent organization.”

“Copies of Form 990 were provided to each member of the board of trustees and to the audit committee of the parent organization prior to filing. A formal review process was conducted with the audit committee, with opportunities for questions from that committee and the board of trustees to be addressed before the return was filed.”

“Conflict of Interest policies and signature pages are distributed yearly to each member of the board of trustees. Signature pages are collected at the office in Des Moines, Iowa, and monitored for completion. Any conflicts of interest that arise pursuant to this process or otherwise throughout the year are to be reported immediately, and the remaining members take the appropriate action.”

“The organizations Executive Director is employed by the related parent organization, International Chapter of the P.E.O. Sisterhood, and the organization shares her services with International Chapter. The International Chapter explains on its Form 990 the process determining the Executive Directors compensation.”

“A similar arrangement exists for the Director of Finance/Treasurer (see Part VI, Line 15a)”

“Governing documents, conflict of interest policies and financial statements are available to members of the parent corporation only. These items are not available to the general public.”

“The Executive Director and Director of Finance/Treasurer of the parent organization, International Chapter of the P.E.O. Sisterhood, also serve in the same capacity for the reporting organization. An estimate of average hours worked each week for reporting and related organizations has been included in column (B). No wages are paid or reimbursed for either officer from the reporting organization. All wages and related benefits for the individuals are paid and reported by the parent organization.”

“Also Part IV, Line 12a: The organizations modified cash basis financial statements were audited by an independent auditing firm on a consolidated basis with the other philanthropic funds of the P.E.O. Sisterhood, excluding Cottey College and P.E.O. Foundation. (Listed on Schedule R, Part II)”