Leadership for Educational Equity Foundation

“A majority of the organization's board of directors shall be appointed by the board of directors of leadership for educational equity ("lee"), a related party. Similarly, the board of directors of lee may remove a director from the foundation board, with or without cause.”

“Leadership for educational equity foundation's form 990 is prepared by a national accounting firm in conjunction with the organization's financial department. Upon completion, a copy of the 990 is provided to the full board of directors for comment and review. The board is allocated two weeks to provide comments on the return prior to filing; at the close of those two weeks, the organization electronically files its form 990 with the internal revenue service.”

“The organization operates under its own conflict of interest policy. All individuals serving in the capacity as board member or officer are required to adhere to the conflict of interest policy and complete an annual questionnaire disclosing any potential conflicts with the organization. When an officer or director becomes aware of a potential conflict, he or she shall have a duty to: 1. Immediately disclose the existence and circumstances of the transaction in writing to the board. 2. Refrain from using his or her personal influence to encourage the organization to enter into the transaction. 3. Physically excuse himself or herself from participation in any discussions regarding the transaction with the directors, officers and employees of the organization. The board administers the conflicts policy and reviews the annual conflict disclosure statements. The board has the sole authority to review the operation of the policy and make changes from time to time as it may deem appropriate. Form 990, part vi, line 13 & 14 the foundation has both a whistleblower policy and document retention policy. Form 990, part vi, line 15a lee foundation shares employees and other resources with leadership for educational equity. The two organizations operate under a resource sharing agreement that sets forth how resources are shared and paid for. One such resource is the top management official of leadership for educational equity, who performs some work on lee foundation's behalf. The top management official's compensation is determined by a group of independent persons, the lee board of directors.”

“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 leadership for educational equity's website, on guidestar.org, and on other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation, form 990 and by-laws are also available upon written request or by calling the organization directly.”

“LEE Foundation is amending its previously filed 2015 Form 990 to include updated narratives in Sch. I, Part IV to describe the grant process to a related organization and in Sch. O (Form 990, Part VI, Line 15A) to describe the sharing of employees and other resources with a related organization.”