Adopt-A-Classroom Inc

“The executive committee, composed of the officers of the corporation, has limited authority to act on behalf of the board of directors in the management of the organization between board meetings. All actions taken by the committee must be reported to the full board at the next scheduled meeting. The executive committee is subject to the control and direction of the board of directors. No broad delegation of authority exists.”

“Adopt-a-classroom has a management arrangement with augeobpm, an outsource accounting firm, to provide budget guidance and oversee financial operations. Augeo provides accounting services, prepares the financial statements, and helps with budget planning. Justin boughton receives compensation of $62,000 from augeobpm for services provided as adopt-a-classroom's outsourced controller and top financial official under the arrangement.”

“Form 990 is reviewed by the finance committee and then presented to the full board of directors for final approval prior to filing with the irs.”

“All board members and key management are required to complete a conflict-of-interest disclosure form annually affirming such person has received a copy of the policy, has read and understands the policy, and agrees to comply with the policy. Such persons are also required to disclose financial interests and family relationships that could give rise to conflicts of interest and have a duty to disclose all material facts regarding his or her interest in any transaction promptly upon learning of the proposed transaction. The board shall ascertain that all material facts regarding the transaction and potential conflict have been disclosed to the board and shall compile appropriate data to determine fair market value for the transaction. After exercising due diligence, the board shall determine whether the transaction is fair and reasonable to the organization. The majority of disinterested members of the board may approve the transaction. A record of any such proceedings in maintained in the board minutes.”

“Compensation for the executive director was determined by the executive committee of the board of directors at the time of hiring and approved by the full board. Compensation decisions are made with reference to external salary surveys (primarily the most recent edition of the minnesota nonprofit salary and benefit survey, produced by the minnesota council of nonprofits). In addition, the compensation committee of the board of directors reviews the compensation of all executives of the organization whose total compensation exceeds $100,000 per year at least once every 2 years. The most recent review was completed by the compensation committee january 30, 2025.”

“The organization's financial statements and conflict of interest policy are made available on the organization's website. The articles of incorporation and bylaws are available upon request.”

“The audit oversight committee, a sub-committee of the finance committee, is responsible for engaging a cpa firm and overseeing the audit of the organization's books and records. The committee has no power to act on behalf of the board but shall present its recommendations to the board for action. This process has not changed from the prior year.”