Institute for Financial Literacy Inc

“It is the policy of the institute for financial literacy to present the completed form 990, including significant schedules, to the full board of directors. Each member of the board of directors receives a copy of the form 990 prior to the submission of the form to the internal revenue service.”

“It is within the conflict of interest policy that each director, principal officer, and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a) has received a copy of the conflicts of interest policy, b) has read and understands the policy, c) has agreed to comply with the policy, and d) understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“It is the policy of the institute for financial literacy that when hiring the executive director, or upon a proposed modification of the executive director's compensation, the board will perform a thorough review to determine suitable compensation. This process is to include either (a) a review of comparability data by the board of directors or (b) an independent compensation consultant hired by the board. Comparability data can include compensation surveys, written employment contracts, and/or 990s of similar organizations. It is the policy of the institute of financial literacy that the executive director shall hire key employees and that the executive director shall set the compensation of key employees after reviewing comparability data. Comparability data can include compensation surveys, written employment contracts, and/or 990s of similar organizations. If the executive director has a familial relationship or conflict of interest with a key employee, the board will perform a thorough review to determine suitable compensation for that key employee. The board will retain documentation of the deliberation and final decision.”

“It is the policy of the institute for financial literacy that the form 990 and form 1023 are available to the public upon request and in accordance with irs pub 557. Additionally, form 990 is available on-line at www.guidestar.org.”

“It is the policy of the institute for financial literacy that its bylaws and conflict of interest policy are available to the public upon request. Copies will be sent via certified first class u.s. Mail within thirty (30) business days of the receipt of the request. The organization reserves the right to charge a reasonable copying fee plus actual postage.”