Innovateedu Inc

“The organization did not have any committees in place in fiscal year 2024.”

“The form 990 is prepared by an independent accounting firm and reviewed by the executive director. A complete copy is provided to all members of the board of directors for review, and any issues are documented and addressed prior to filing.”

“The organization shares its conflict of interest policy with board members, officers and key employees through regular meetings. All such covered persons are expected to declare if at any point a conflict of interest arises and are required to sign an annual conflict of interest disclosure form. If a potential conflict arises, the interested person must recuse themselves from any related board discussion and abstain from voting on the potential conflict. Deliberation and decisions are documented in the minutes of the meeting.”

“For all employees, we use a third party salary calculator based on work experience and various factors to determine the salary and eliminate any subjectivity. If the employee is a current employee, the next year's salary will be determined on performance based reviews. The standard raise is anywhere between 3% and 5%. This is standard operating procedure and it happens every year. This process was completed for last year's and this current year's operating budget. Specifically for the executive director/ceo, the board of directors did not provide a raise for the total salary. This salary was then added to our operating budget for which the board reviews and comments on annually. The board then approved the salary and operating budget in our board meeting. This approval is then documented in the board slides and documents.”

“The form 990 is available for public inspection as required under section 6104 of the internal revenue code. The form 990, form 1023, financial statements, conflict of interest policy, articles of incorporation, and bylaws are available upon written request.”

“The organization ceased conducting its urban education fellowship program on 6/30/23.”

“Payroll fees: program service expenses 17,386. Management and general expenses 1,953. Fundraising expenses 195. Total expenses 19,534. Financial consultants: program service expenses 0. Management and general expenses 49,456. Fundraising expenses 0. Total expenses 49,456. Educational consultants: program service expenses 284,074. Management and general expenses 0. Fundraising expenses 0. Total expenses 284,074. Other consulting: program service expenses 283,920. Management and general expenses 63,819. Fundraising expenses 6,383. Total expenses 354,122.”