Catherine Hershey Schools for Early Learning

“Governing body & management several of the board of managers members and officers of the filing organization also serve as directors and officers of business entities that are related to this filing organization. Form 990, part vi, section a, line 6 the sole corporate member of the organization is the milton hershey school.”

“Election of the governing body pursuant to the bylaws of the organization, the organization's board of directors is elected by its sole corporate member, the milton hershey school.”

“Reserved powers pursuant to the bylaws of the organization certain powers are reserved to the milton hershey school as the sole corporate member of the organization. The reserved powers include determination of the organization's mission and purpose; election and removal of the organization's board of directors; approval of the organization's strategic plan, annual operating and capital budgets, unbudgeted expenditures exceeding a defined amount; creation of subsidiaries and fundamental corporate changes.”

“Review process the form 990 is reviewed by the organizations' management and independent tax advisor, who signs the return as the "paid preparer." the audit committee of the board directors reviews and discusses the form 990 at one of its meetings prior to filing the return with the irs. Additionally, the form 990 is provided to the full board of directors, noting key disclosures, prior to the filing of the form 990 with the irs.”

“Conflict of interest the catherine hershey schools for early learning (chs) board of directors operates under a conflicts of interest policy which requires its directors, officers and all of its employees to disclose a conflict of interest to either their supervisor, chair of the board of directors, or conflicts of interest committee as described in the conflicts of interest policy. Each director, officer, and employee is required to avoid all activity that could create a conflict of interest or give an appearance of a conflict of interest and are encouraged to bring to the attention of their supervisors circumstances which, even if not directly prohibited by the policy, may raise questions about the person's ability to be fair and objective. Any conflicts of interest are to be reported immediately after they become aware of such a conflict. The conflicts of interest policy requires all directors, officers, managers and administrative assistants, as well as any other employee as identified by chs as being in a position to influence financial transactions or manage business relationships to annually disclose the identity of family members, or businesses in which family members are employees, or businessesin which they or their family members have a financial interest that do business with or is likely to do business with chs.”

“Compensation process an independent compensation consultant evaluates and compares the compensation of the key employees of catherine hershey schools for early learning (chs) to similarly qualified persons in functionally comparable positions at similarly situated organizations to determine that it is fair and reasonable. This process occurs at regular intervals thereafter, but not less frequently than every five years. The compensation information is reviewed and approved by the board of directors, the governing body of chs, who ensures that there is no conflict of interest with respect to the compensation arrangements of key employees. The review of the compensation of key employees, including detail on the deliberations and decisions, is contemporaneously documented within the minutes from the board meeting. A file with position descriptions, resumes of key employees, the report of the independent compensation consultant and a copy of the applicable board minutes is maintained by chs.”

“Public availability of governing documents copies of the organization's articles of incorporation and the conflict of interest policy are posted on the catherine hershey schools website. Catherine hershey schools for early learning form 990 is available to the public at guidestar.org. Included in the 990 are certain financial statement components for review. The form 990 and tax exemption letter are provided to anyone who requests them in accordance with irs regulations.”

“Reconciliation of net assets other changes in net assets or fund balances transfer from affiliate $5,969,389”