College Bound Inc

“The form 990 is prepared by an accounting firm and a draft of the form is reviewed by management. The draft is then distributed by e-mail to the organization's full board of directors for their review and then filed with the internal revenue service.”

“In connection with any actual or possible conflicts of interest, an officer, director, or employee must disclose the existence of his or her financial interests in the organization, including business and family relationships in the organization. Each officer, director, or employee is required to complete a conflict-of-interest disclosure questionnaire on an annual basis. Any possible disclosed financial interest, or business and family relationships, are reviewed by the college bound executive director to determine if a conflict of interest exists. (note that a financial interest or business and family relationship does not necessarily constitute a conflict of interest.) if the person disclosing the financial interest or existing business and family relationships is a current member of the executive committee, said member shall leave the meeting room during the discussion of, and the vote on, whether a conflict of interest exists. If the executive committee determines a conflict of interest exists, the executive committee shall take appropriate corrective or disciplinary actions.”

“The board executive committee is charged with oversight of executive compensation. The board executive committee establishes performance metrics for the executive director. Following the close of the year, the compensation committee reviews the results to determine the overall level of performance. A third-party compensation consultant is engaged to review market compensation for the executive director. The board executive committee proposes changes in compensation for the executive director based on performance outcomes to the full board of directors for approval. The last compensation review for the executive director was performed january 2025. Form 990, part vi, section b, line 15b: the organization does not have any officers or key employees other than the executive director.”

“The organization makes its governing documents, conflict of interest policy and financial statements available upon request.”

“College tour: program service expenses 25,069. Management and general expenses 0. Fundraising expenses 0. Total expenses 25,069. Training and development: program service expenses 15,430. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,430. Other consultants: program service expenses 12,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,000. Payroll fees: program service expenses 6,951. Management and general expenses 369. Fundraising expenses 772. Total expenses 8,092.”

“Write off of loan recievable -2,000.”

“The process has not changed from the prior year.”