Pinellas County Education Foundation Inc.

“Form 990 is reviewed by the finance committee prior to filing. The form is distributed to the board of directors and posted on the foundation's website.”

“Board members receive a copy of the foundation's conflict of interest policy annually. Each member is required to sign the policy and disclose any conflicts. New staff are required to sign an acknowledgement that they will abide by the foundation's policies and procedures as outlined in the employee handbook.”

“The ceo's annual evaluation is conducted by all committee chairs and the executive committee. The executive committee votes on compensation; the chair meets with the ceo and shares evaluation results.”

“Form 990 is available upon request as well as on the foundation's website.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request. Review of the foundation's expenditures is available on their website.”

“Elevating excellence and reading recovery were added during the year. Elevating excellence provided high-achieving, low income students and their families with a personalized path to college success. The program includes sat prep, individualized academic counseling, college preparation support, including financial aid and scholarship planning. The foundation specifically invested in a strategy to open a college and career planning center at every high school over 4 years. Reading recovery is a highly effective, short-term intervention of one-to-one tutoring for low-achieving first graders. Target students are identified as performing below grade-level on concepts that make reading and writing possible. Individual students receive a half-hour lesson each school day for 12-20 weeks with a specially trained reading recovery teacher. As soon as students can meet grade-level expectations and demonstrate that they can continue to work independently in the classroom, their lessons are discontinued, and new students begin with individual instruction. Reading recovery teachers work with four or five individual students each day and then conduct small reading groups within existing 1st grade classrooms with additional students. See the continuation on schedule o for form 990, part iii, line 4a for detailed descriptions of these programs.”

“Change in value of split interest agreements -2,123. Write off of uncollectible pledges -16,500. Refund of florida prepaid scholarships 1,281,832.”

“The foundation separated the oversight of the audit from the finance and investment committee. Starting in 2019, the audit committee oversees the audit of the foundation's books and records and reviews the foundation's internal financial controls and procedures. Activities include: - oversee the process to hire an audit firm. - review and approve the engagement letter. - meet with the auditors to discuss their audit plan and to review the previous and future year's audit fees. - review the results of the audit. The finance and investment committee ensures the long-term financial health of the foundation. Activities include: - review operating budgets. - review monthly financial statements. - review financial policies, including the investment policy. - review income tax returns. - monitor compliance with agreements containing financial covenants. - oversee the process to hire an investment firm. - meet with the investment firm to discuss their investment strategy and to make recommendations to the board on changes.”