Ilead Foundation

“There are no committees that have the authority to act on behalf of the board.”

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

“The officers, directors, and the trustees are required to disclose all potential conflict of interests. The board reviews any conflicts presented by interested parties. The chairperson appoints a disinterested person or committee to investigate the transaction in question and report findings to the board. Alternatives to the proposed transaction are identified and compared to the proposed transaction. The board votes on the most beneficial option for the organization. If the board has reason to believe an interested person has failed to disclose the potential conflict, the board will investigate further and if necessary, take appropriate disciplinary and corrective action.”

“The documents are readily available to the public upon request.”

“Student & group activities: program service expenses 17,279. Management and general expenses 65,732. Fundraising expenses 0. Total expenses 83,011. Professional services: program service expenses 59,771. Management and general expenses 24,823. Fundraising expenses 0. Total expenses 84,594. School support: program service expenses 2,379. Management and general expenses 9,049. Fundraising expenses 0. Total expenses 11,428. Banking chargers & fees: program service expenses 0. Management and general expenses 4,667. Fundraising expenses 0. Total expenses 4,667.”

“The process has not changed from prior year.”