Fedcap Apex Technical School Inc.

“Steven markowitz, president and stuart markowitz, vice president, have a family relationship.”

“Apex technical school, inc.'s sole member is the fedcap rehabilitation services, inc.”

“The organization's bylaws reserve the power to the sole member to appoint, replace or remove the board of directors (for any reason at any time).”

“Apex technical school, inc.'s bylaws reserves the following powers to its sole member, fedcap rehabilitation services, inc.: - amend the certificate of incorporation or bylaws, - approve a merger or consolidation with or into another entity, - adopt a budget or make a material change to a budget, - divest itself of any line of business, - file for bankruptcy, - permit or approve its entering into any guaranty or surety arrangement, - consent to the entry of a judgement against it, - approve the sale of a material part of its assets, - commence a lawsuit, - admit a new member, - approve the acquisition of any entity, - permit the incurring of any indebtedness for borrowed money.”

“Organization's process used to review form 990 the form 990 was prepared by an independent accounting firm in conjunction with fedcap's financial department. The form 990 was reviewed by senior management and then distributed to the full board of trustees for review and comment before it was filed with the internal revenue service.”

“Conflict of interest policy monitoring & enforcement: apex technical school, inc. Follows fedcap's conflict of interest policy. Apex technical school, inc. Adopted the conflict of interest policy of its parent organization, fedcap rehabilitation services, inc. The conflict of interest policy is distributed to the board of directors and to all employees on an annual basis. Individuals are expected to sign the conflict of interest policy and confirm that no conflicts exist. Violations of the policy will subject an employee to disciplinary action or immediate discharge. Employees who have knowledge or suspicion of improper conduct or activities by other employees or outside parties doing business with fedcap, are expected to immediately bring it to the attention of the ceo or director of human resources”

“Fedcap apex technical school, inc. Provides compensation to all of the individuals reported on the form 990 (other than christine mcmahon, carol khoury and ken brezenoff, who are each paid by the fedcap group, inc.). The compensation paid to apex technical school's executives is determined in accordance with procedures established by the fedcap group, inc. Those procedures are as follows: the board of directors has established a compensation committee of independent persons that have no personal interest in the proposed compensation agreement. In determining the president's compensation package, the compensation committee conducts an analysis of industry comparables for individuals performing similar job functions. The compensation committee ultimately makes the decisions about the president's compensation and memorializes its decision in the board minutes.”

“Apex technical school, inc. Makes its form 990 available to the public by retaining a copy at its place of business. The governing documents are made available through the massachusetts secretary of state's office, conflict of interest policy available upon request and financial statements available through the massachusetts attorney general's office.”

“Since 1961, apex technical school has enjoyed a rich tradition of service to new yorkers who know us well for our adult vocational technical school which offers training in skilled trades. Our hands-on training courses give individuals the basic trade and labor skills needed to secure an entry-level position in the field. Located in long island city in queens, apex offers 900-hour certificate courses in high demand areas such as: air conditioning and refrigeration, automotive service, welding technology, electrical and advanced electrical, plumbing and construction. All of apex's trade programs offer hands-on training in as little as 7 months. Apex is licensed by the new york state education department and accredited by the accrediting commission of career schools and colleges.”

“Uncollectible tuition -1,281,700. Apex tech. School's opening fund balance prior to spinoff from fedcap rehab -802,885.”