Literacy Trust Inc.

“Beginning in 2018, the organization began using justworks, a professional employer organization ("peo"). As a peo, justworks provides professional employer services to literacy trust. In the peo relationship justworks and literacy trust share certain responsibilities and allocate other employer responsibilities between each other. Literacy trust remains an employer of the worksite employees and justworks is a co-employer of literacy trust's employees. Justworks reserves the right of direction and control over employees as is necessary to fulfill its obligations and provide its services under an agreement between literacy trust and justworks. Justworks and literacy trust have a right to hire, discipline, and terminate employees as to each one's employment relationship with employees. The fee paid to justworks during fy18 was $6,099.”

“The organization has its form 990 prepared by an outside accounting firm and is then reviewed by the board treasurer and executive director prior to distribution to all board members (by hard copy or electronically) for their review. Once, the form 990 is approved by the board, the return is then filed with the irs.”

“Literacy trust has a written conflict of interest policy, which is monitored and enforced annually. All board members and officers are required to disclose any conflict of interest that may exist with the organization on an annual basis. Any disclosures made on the form are reviewed by the board. The board reviews each circumstance and decides as to whether a potential conflict exists, whether actual conflicts can be fully and satisfactorily addressed, or whether other action is required. If a board member has a conflict of interest, they would be excused from participating in the vote of that conflict. Any discussion regarding the conflict of interest transaction are documented in the minutes of the board meetings. The minutes of the board meeting shall reflect the conflict of interest that was disclosed, the name of the interested person, and final discussion on the conflict of interest transaction.”

“The board of directors approves and reviews annually the compensation of the executive director. The board gathers information about the compensation offered by comparable institutions under comparable circumstances for comparable services to ensure that its offered package is competitive without being excessive. This process was last undertaken during fy18 and the records of the compensation decisions are maintained in the organization's personnel file.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org, as well as other similar types of websites. In addition, the financial statements, conflict of interest policy, form 990, form 1023, and by-laws are also available upon written request to 315 west 36th street, suite 6033, new york, ny 10018.”

“The process for assuming responsibility over the audit of literacy trust, inc. And for the selection of an independent accountant has not changed from prior years.”