Mercer Island Schools Foundation

“The executive director works with an accountant to collect data and prepare the return. Before filing, the board treasurer receives a complete copy of the form 990 and the board of directors receives a copy of the form 990 without schedule b.”

“Every year, board members are required to complete a conflict of interest statement. The statements are reviewed by the executive director and the executive committee of the board. If a conflict or potential conflict is found based on their review or as notified by board member themselves or outside parties throughout the year, the said board members must excuse themselves from discussion and voting on such matters.”

“The executive director's compensation is reviewed by the executive committee. The executive committee uses the candid wage and salary survey of non-profit organizations in king, snohomish and pierce counties as a reference. This survey of not for profit organizations matches job content and positions with similar non-profits by size of organizations - number of employees and/or the amount of revenue raised. The executive committee looks at organizations with 1-5 employees and revenue of $1 - $2m to best match the mercer island schools foundation profile. The salary is put into a calculation and the committee can evaluate the low/median/high salary ranges. The board president also checks in with other school foundations locally such as the bellevue, issaquah and lake washington school foundations to make a comparison of salaries for their executive directors. A salary recommendation is determined and presented to the board of directors for approval. This process was last undertaken in fall 2023.”

“Governing documents, conflict of interest policy and financial statements are available upon request.”

“27 volunteers served on our board of directors during the year. 75 volunteers made phone calls to solicit gifts over two nights during our annual campaign in the fall. Throughout the year an additional 5 volunteers served on one-time projects for the foundation.”

“Uncollectable pledges -1,709.”