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.”

“To ensure the ceo's compensation package is fair and reasonable, an outside consultant reviews salary surveys and comparable data. Compensation is reviewed and based on performance annually. The ceo uses a comparable analysis methodology and resources from an external hr consultant to set compensation of other officers. The ceo has final approval for all officers' compensation.”

“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 its website.”

“Consulting: program service expenses 125,936. Management and general expenses 2,022. Fundraising expenses 650. Total expenses 128,608. Contract labor: program service expenses 472,599. Management and general expenses 42,066. Fundraising expenses 0. Total expenses 514,665. Other professional fees: program service expenses 178,311. Management and general expenses 52,172. Fundraising expenses 1,616. Total expenses 232,099.”

“Change in value of split-interest agreements 6,471. Write off of uncollectable pledges -6,000.”

“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.”