The Educational Foundation Inc

“Members of the organization membership in the foundation shall consist of natural persons or authorized legal entities who make financial contributions to the foundation and subscribe to the purposes and objectives of the foundation. A corporation, partnership or authorized legal entity other than a natural person who makes financial contributions to the foundation must designate a natural person or natural persons as a member or members. Contributions to the foundation shall be open to all persons interested in the affairs of the foundation regardless of race, creed, color, or religious beliefs.”

“Board review of form 990 during may of 2015, management distributed a draft of the 2013 form 990 to the audit committee and gave the members an opportunity to provide comments and ask questions with respect to the draft. Based on feedback provided from the audit committee, management updated the draft form 990. Prior to finalization of the return, management provided a finalized draft, via e-mail, to all members of the executive board of directors prior to filing with the irs.”

“Conflict of interest policy the educational foundation, inc. Has a conflict of interest policy. It is the responsibility of each board member to annually notify the foundation of any potential conflicts. The organization's annual notification process serves as its process for monitoring potential conflicts.”

“Compensation review the education foundation, inc.'s board of directors designated the compensation committee to be responsible for establishing compensation practices which are reasonable and do not violate the private inurement prohibition . The practices and processes are designed to avoid any claim for intermediate sanctions and to satisfy the requirements to obtain the rebuttable presumption. The compensation committee reviews outside, independent data to establish the compensation of our officers and key employees. The board of directors review and set forth the compensation for the ceo using the same process as the compensation committee.”

“Governing documents the education foundation, inc. Does not make its governing documents, financial statements, or its conflict of interest policy available to the public. The organization's form 990 is publicly available upon request.”

“Accrued compansation from january 1, 2013 to june 30, 2013, the organization employees received compensation and benefits from the university of north carolina at chapel hill (the university), an unrelated organization per form 990 instructions. Such compensation and benefits are included in the return. Compensation and benefits paid by the university to employees of the organization are reimbursed by the organization to the university.”