Kids First Chicago for Education

“Committees There were no committees with the authority to act on behalf of the governing body during the year.”

“Review of Form 990 The Form 990 was prepared by a national public accounting firm in conjunction with Management and staff of the Organization. A draft was then provided to Management. Management and the Treasurer reviewed a draft version of the Form 990. Subsequent to their review, Management and the Treasurer, along with the commercial club's VP, Finance & Admin discussed the draft versions with the tax preparers including any questions or necessary revisions. Based on feedback from that meeting, the Form 990 was revised as necessary. The Board of Directors received a copy of the Form 990 prior to filing with the IRS.”

“Director Conflict of Interest policy No director or member of any committee shall derive any personal profit or gain, directly or indirectly, by reason of his or her membership on the Board of Directors or a committee. If a director or committee member is directly or indirectly a party to any transaction considered by the Board of Directors or a committee, the director or committee member shall disclose the material facts of the transaction and the director's interest or relationship prior to the approval or ratification of the transaction by the Board of Directors or committee, and shall not vote on the approval or ratification of the transaction.”

“Monitoring Conflict of Interest Transactions that involve a board member or officer are assessed to determine if a conflict of interest exists. The decisions regarding if a conflict exists is determined by the governing committees of the organization. If a conflict is identified (none identified to date), the member that it relates to is asked to abstain from the conversation and any related decisions made. Although the organization's conflict of interest policy does not require an annual completion of a conflict of interest statement, each officer, director, and key employee is required to disclose on a contemporaneous basis when a conflict arises.”

“Compensation Approval NSC uses the following to establish compensation for all employees: a compensation committee, an independent compensation consultant, Form 990 of other organizations, compensation surveys, and approval by the board and compensation committee. The Chief Executive Officer was hired in January 2015. New Schools for Chicago has no key employees. Compensation is contemporaneously documented by the compensation committee.”

“DOCUMENTS AVAILABLE TO THE PUBLIC No documents are available to the public.”

“ORGANIZATION'S MISSION NEW SCHOOLS FOR CHICAGO (NSC) IS A VENTURE PHILANTHROPY ORGANIZATION THAT HAS INVESTED IN THE START-UP OF AUTONOMOUS CHICAGO PUBLIC SCHOOLS. NSC WAS ESTABLISHED BY CHICAGO'S BUSINESS AND CIVIC LEADERSHIP TO SUPPORT RENAISSANCE 2010, AN INITIATIVE TO CREATE 100 NEW PUBLIC SCHOOLS OF CHOICE IN THE CITY OF CHICAGO'S MOST CHALLENGED COMMUNITIES. IN ITS FIRST TEN YEARS, NSC RAISED MONEY, SUPPORTED THE OPENING OF NEW SCHOOLS, MADE GRANTS TO FUND THE START-UP OF SCHOOLS AND HOSTED THE NEW SCHOOLS EXPO FOR PARENTS, STUDENTS AND COMMUNITY MEMBERS. Shifting from new school growth to ensuring high quality performance in Chicago Public Schools (CPS), NSC, during fiscal year 2015, redirected its strategic focus. While many of the charter school and other schools are doing well, some are not as high quality as needed for the students they serve. NSC is now working to improve the performance of underperforming schools of all types through targeted support to schools and school leaders, by fostering an environment that allows these schools and parent choice to thrive and working with CPS to develop strong metrics and policies to ensure high quality schools are supported and underperforming schools are addressed. NSCs vision remains to ensure a high-quality seat of choice for every Chicago student. In fiscal year 2015, NSC restructured its functional expense categories to reflect the new strategic focus. These new categories include school quality and conducive environment. Form 990, Part VI, Line 1a Committees of the Governing Body The Board of Directors, by resolution adopted by a majority of the directors in office, may designate and appoint one or more committees each of which shall consist of two or more directors, which committees, to the extent provided in such resolution, shall have and exercise the authority of the Board of Directors in the management of the corporation. The designation and appointment of any such committee and the delegation thereto of authority shall not operate to relieve the Board of Directors, or any individual director, of any responsibility imposed by law.”