New Classrooms Innovation Partnersinc

“New classrooms has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management, and is ready to be filed with the internal revenue service, it is electronically transmitted to the finance committee for review before going to the board of directors for any comments prior to submission. The ceo and cpo then review any comments and work with the relevant staff and accounting firm to make any necessary changes. Each issue is documented and addressed until the return is finalized and approved for filing.”

“New classrooms' board members and officers are given a copy of the conflict of interest policy at least annually, as well as upon any revision thereto; are required to sign a document certifying that they have read and understood the conflict of interest policy and agree to comply with it. The policy requires that all individuals have a duty to disclose to the directors any potential or actual conflicts that may exist. If a potential or actual conflict is disclosed at any time, the board will review the material facts and circumstances. If it is determined that a conflict does exist, the board will determine whether the transaction at issue may be obtained with reasonable efforts via an advantageous transaction or arrangement that would not give rise to a conflict or, if that is not reasonably possible, whether the original transaction is in the best interest of the organization and fair and reasonable. The interested person does not participate in any vote or discussion on this matter.”

“The talent committee of the board conducts an annual review of officers' compensation and the compensation of the highly paid employees. As part of the review, the committee references available market data for comparable positions (via independently verified sources as well as reported 990 compensation of like size and focus peer organizations) and internal equity considerations. Additionally, the committee approves any compensation package offered to new senior members on an ongoing basis that exceeds the maximum of the range for that given level. The officers' compensation review process is documented in the minutes of the board meetings and was last undertaken in december 2016.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, form 990, form 1023, and by-laws are also available upon written request at 1250 broadway, 30th floor, new york, ny 10001 or by calling the organization directly at 212-920-6130.”

“New classrooms' management and board members oversee the selection of an independent accountant and the financial statement audit. The process has not changed since the prior year.”