Commonwealth Fund for Ket Inc.

“The board includes three members who are appointed by the Kentucky Authority for Educational Television.”

“Certain actions of the Commonwealth Fund, as specified in the operating and license agreement, may require approval of the Kentucky Authority for Educational Television.”

“The commonwealth fund for ket board accepted the latest audit and reviewed other data available at that time. When the form 990 is complete, copies will be sent to the entire board for review and acceptance prior to the deadline of november 15, 2016.”

“This policy is reviewed and accepted annually as part of the October board meeting, and any conflicts or other business or family interests are noted in board minutes.”

“The commonwealth fund for ket has no employees of its own, but reimburses the salaries of employees from the related ket foundation. Ket's ceo - who is part of the commonwealth fund for ket board of directors - authorizes all personnel actions and compensation for all ket staff. For fund staff positions, the fund's executive officer makes recommendations to the ceo, including compensation and benefits commensurate with qualifications within the fund, and achievement of existing staff. For the executive officer, the board chairman, together with members of the finance committe of the commonwealth fund for ket board, regularly evaluates performance and compensation, and also makes recommendations to the ceo. For a new executive hire, responsibility for establishing a fair salary and benefits package could be delegated to a search committee. The board of directors then reviews and ratifies all personnel actions presented at a full board meeting. As a support organization of the authority for kentucky educational television, the commonwealth fund for ket mirrors other personnel policies of the state to ensure sound governance.”

“The documents listed are available to the public upon request.”

“The organization's mission is to support and further the educational, charitable and public purposes and activities of the kentucky authority for educational television (authority) and the related kentucky educational television foundation, inc (foundation). The fund's primary purpose is to receive, hold and administer funds provided by its fundraising activities, which are concentrated primarily in the state of kentucky, for the benefit of the authority and the foundation.”

“The organization has not changed its oversight or selection process during the tax year.”

“Software limitations prevent disclosure of beginning of year equity accounts. Please see prior year form 990 for beginning of year amounts.”

“THE AMOUNT OF GRANTS REPORTED FOR THE CURRENT YEAR INCLUDES ALL AMOUNTS REPORTED FOR GASB PURPOSES. The PRIOR YEAR amount of other expenses on line 17 relating to the grant to the Kentucky Authority for Educational Televsion on line 13 was $2,413,000. PRIOR YEAR IS PRESENTED UNDER FASB, EXPLAINING THE RESULTING DIFFERENCE IN PRESENTATION.”

“Under gasb, a footnote to the financial statements that addresses the organization's liability for uncertain tax positions is not required.”