Rhode Island Education Collective

“There is no committee that acts on behalf of the governing body.”

“The accounting team reviews draft form 990 and requests any necessary changes/corrections before submitting them to chief operating officer. The chief operating officer then reviews the form 990 and sends it to the board of directors for review and approval. The board of directors then reviews the form 990 and if no issues or questions are noted, the board votes to approve return filing.”

“Directors and officers are required to disclose all conflicts and potential conflicts. All material facts concerning any situation that might be viewed as a conflict should be disclosed by the employee concerned to an officer of rhode island education collective. Where doubt exists regarding whether a conflict exists or appears to exist, the matter must be resolved by the officer, who may consult with the board of directors as needed. Procedures to be followed when conflicts exist. No employee may propose to the board of directors, any committee, or any other decision-making body or person within rhode island education collective that rhode island education collective engages in any transaction, including any grant or expenditure of funds, which would directly or indirectly benefit such employee. No employee may attempt to influence the action of the board of directors, any committee, or any other decision-making body or person within rhode island education collective concerning such a transaction. Such employees may, however, answer questions or respond to requests, at a meeting or otherwise, for factual information needed for the appropriate decision-makers at rhode island education collective to make an informed decision about such a transaction. Additional procedures necessary to approve a conflict involving a material financial interest. Rhode island education collective shall not approve any transaction to which rhode island education collective would be a party and in which an employee of rhode island education collective has a material financial interest unless and until the appropriate decision-makers at rhode island education collective (excluding any employee who has a conflict of interest) have specifically and in good faith determined after reasonable investigation (including a review of the terms upon which other comparable organizations enter transactions or arrangements similar to the one under consideration) that: a. All material facts concerning the transaction and the employee's interest in the transaction have been disclosed to rhode island education collective; b. Rhode island education collective is entering into the transaction for its own benefit; and c. The transaction is fair and reasonable as to rhode island education collective.”

“The organization's legal counsel acted on behalf of the board, to determined the ceo's compensation. The ceo retained his own legal representation which negotiated a contract that the board and the ceo ultimately agreed to. The process was documented through email correspondence.”

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

“Contractor fees: program service expenses 138,938. Management and general expenses 50,647. Fundraising expenses 332. Total expenses 189,917. Other professional services: program service expenses 118,079. Management and general expenses 21,179. Fundraising expenses 283. Total expenses 139,541. Marketing and communication fees: program service expenses 113,784. Management and general expenses 41,478. Fundraising expenses 272. Total expenses 155,534. Payroll fees: program service expenses 1,848. Management and general expenses 491. Fundraising expenses 472. Total expenses 2,811. Technology professional services: program service expenses 6,213. Management and general expenses 2,265. Fundraising expenses 15. Total expenses 8,493.”

“Prior period adjustment 30.”