New Leaders for Ohio Schools

“The code of regulations was amended to include a conflict of interest policy.”

“The 990 return was reviewed by the audit committee of the board of directors, who presented it to the board for approval on april 28, 2016, prior to its filing with the internal revenue service.”

“The conflict of interest policy is sent to each member of the board at which time members are asked to complete a declaration of interests form. If any conflicts are reported, they are reviewed my management and will be taken to the balance of the board if warranted. The organization has adopted the policy of the ohio business roudntable which includes policies regarding whistelblowers and document retention and destruction. If a conflict exists, the board member with the conflict will be recused from voting on any matter related to the conflict or in participating in the governing body's deliberations and decisions on any such matter.”

“The authorized representative and others assisting with the start up of the corporation worked with a search firm to hire the president and ceo. Since no other organization of this type exists, they determined the salary based on current salary levels of candidates and reviewed 990 returns of other non profit organizations of similar size to arrive at a salary commensurate with the duties of the president and ceo.”

“All governing documents, tax returns, financial statements and conflict of interest policies are available for public inspection at any time.”

“THE CORPORATIONS FINANCIAL STATEMENTS ARE PRESENTED ON A MODIFIED CASH RECEIPTS AND DISBURSEMENTS BASIS. CONSEQUENTLY, CERTAIN REVENUE AND THE RELATED ASSETS ARE RECOGNIZED WHEN RECEIVED RATHER THAN WHEN EARNED AND CERTAIN EXPENDITURES ARE RECOGNIZED WHEN PAID RATHER THAN WHEN THE OBLIGATION IS INCURRED. THE MODIFIED CASH RECEIPTS AND DISBURSEMENTS BASIS DIFFERS FROM THE CASH BASIS IN THAT CAPITAL ASSETS ACQUIRED WITH CASH, AND RELATED DEPRECIATION, ARE RECORDED. LIABILITIES RELATED TO DEBT ARISING FROM CASH TRANSACTIONS ARE RECORDED. IN ADDITION, RECEIVABLES AND PAYABLES THAT ARISE FROM CASH TRANSACTIONS ARE RECORDED. FOR EXAMPLE, A RECEIVABLE AND PAYABLE RESULTING FROM AN INTERFUND LOAN OR PAYMENT ON BEHALF OF OTHERS OR BY OTHERS ON THE CORPORATIONS BEHALF NOT REPAID DURING THE YEAR ARE REPORTED BECAUSE IT INVOLVES A SOURCE AND USE OF CASH. IT IS MANAGEMENTS DETERMINATION THAT THE MODIFIED CASH RECEIPTS AND DISBURSEMENTS BASIS MORE APPROPRIATELY REFLECTS THE OPERATIONS OF THE CORPORATION AND OF ASSOCIATED COMPARABLE ENTITIES. LAST YEAR, THE ORGANIZATION REPORTED THE 990 ON THE CASH BASIS. THERE IS NO SECTION 481(a) ADJUSTMENT FOR THE CHANGE TO THE MODIFIED CASH METHOD.”

“The corporation has an audit committee. The committee reviews budgets, financials, hires an audit firm and reviews the audited financial statements and tax returns. Upon approval, the audit committee makes a recommendation to the board on next steps, such as approval or filing.”

“Description:contract svcs- mba program total fees:666667”

“Description:contract svcs-mrkting/recruit. Total fees:867330”

“Description:contract svcs-program develop. Total fees:48082”

“Description:contract svcs-fellows stipends total fees:415000”

“Description:contract svcs- in-bldg support total fees:201500”

“Description:contract svcs-training tools total fees:300566”