Institute for Student Achievement Foundation

“The sole member of the institute for student achievement foundation (isaf) is educational testing service (ets).”

“The member (ets) shall have the sole power to elect and remove the directors of institute for student achievement foundation (isaf). The annual meeting of the member shall be held at the time and place that the board of directors of the corporation (the "board") may designate. At the annual meeting, the member shall determine whether to remove a director, fill a board vacancy, or re-elect a director to a new term.”

“All trustees receive a copy of form 990 for review prior to filing.”

“The institute for student achievement foundation (isaf) applies the conflict of interest policy put in place by its controlling organization, educational testing services (ets). Accordingly, the following narrative regarding the ets conflict of interest policy applies to isaf as well. The trustees of institute for student achievement foundation, individually and collectively, are expected to act in accordance with the highest standards of ethical behavior. Annually, the audit committee reviews the ets code of ethics for members of the board of trustees. Subsequently, each isaf trustee receives a copy of the code of ethics and signs a statement agreeing to abide by the code as employees of ets. The code of ethics states a clear policy on conflicts of interest. Ets also has a conflict of interest policy that is supplied to the board of trustees, officers and key employees, which includes isaf trustees. The trustees annually complete a trustee disclosure statement and a trustee affiliation form. The disclosure statement requests if there are any trustees with material financial interest to which isaf is a party. The affiliation form requests information regarding the trustees employment as a staff member or as a consultant of ets (the ets policy applies as a trustee of isaf), as well as their affiliation with other organizations. The corporate secretary reviews these disclosures for potential conflicts or the potential appearance of a conflict. Should a situation be disclosed that presents a potential conflict, the corporate secretary would seek resolution with the involvement of the appropriate authority such as the audit committee or the ets general counsel. Intrinsic to the policy is a trustee recusing themselves on certain matters or resigning from the board to prevent a conflict of interest or avoid an appearance of a conflict of interest. Failure to respond to the annual disclosure process would result in the requisite follow up by the corporate secretary. Candidates for trustees receive general information on relevant ets policies, as the ets policies apply as a trustee of isaf, such as the code of ethics and conflict of interest and are required to complete the affiliations form prior to standing for election. Trustees can obtain assistance with the interpretation or administration of the code of ethics conflicts policy or procedures from the corporate secretary or the general counsel. Trustees receive the complete policy statements upon their election. As isaf trustees are ets employees, educational testing service requires that employees, including officers, who are uncertain whether an outside activity comes within the scope of ets's code of ethics or conflict of interest policy, discuss the matter with their supervisors. Employees wishing to engage in outside activities must submit an outside activities report to their division vice president for review and approval prior to engaging in the activity. Employees must submit an amended report whenever the activity changes. The report is reviewed and the employee is informed whether the request is approved. The employee's division vice president and the vice president of human resources (hr) receive a copy of all such reports regardless of whether the request is approved. Any situation involving a potential conflict of interest must be reviewed by hr to verify that no conflict exists. Any employee who acquires information that gives the employee reason to believe that any employee, officer or trustee is engaged in conduct that is prohibited by ets's code of ethics (which is intended to apply to isaf) or subject to ets's conflict of interest policy (which is also intended to apply to isaf as well), or that any sales representative, distributor or other person or firm representing isaf in any transaction is engaged in the type of conduct (whether or not in connection with a transaction involving isaf or its products) which, if engaged in by an employee, would violate this p”

“All isaf executives are compensated by ets. Accordingly, ets has a process in place for determining reasonable compensation for their personnel, as is elaborated upon below. Ets engages an external independent executive compensation consultant organization (ieeco) to review and advise on worker compensation laws. Further, the ieeco prepares an annual report of proposed compensation for ets's ceo and officers evaluating the reasonableness of the compensation, as defined by the irs intermediate sanction rules. The report assesses the relevant labor market for officer roles using national data from comparable organizations of similar size and complexity. Then, consistent with the composition of the labor markets in which ets competes for executive talent, appropriate comparative analyses are developed from both not-for-profit and for-profit data. Finally, the ieeco prepares a letter of reasonableness regarding the analyses of officer pay consistent with government guidelines which is presented to the committee on governance and human resources and the board for review, comment and approval.”

“Institute for student achievement foundation (isaf) does not make its governing documents, conflict of interest policy, or financial statements available to the public.”

“Debt forgiveness 132,816.”