College Track

“The tax return is prepared by an outside accounting firm. After completion of said returns, the organization is sent a draft of the tax returns to be reviewed and examined. The organization makes copies of the returns and distributes to those individuals charged with governance. Those individuals at that time can review and if applicable discuss any line items in the return with the accountant who has prepared the return. If all items are found to be acceptable, an authorization is signed and provided to authorize the outside accounting firm to process, sign and provide copies of the returns to be filed (paper or electronically) with the designated governmental agencies. The tax returns are then signed by the organization, stamped and mailed with certified return receipt or the signed form 8879 is provided to the outside accounting firm allowing electronic filing.”

“Officers, Board of Directors and employees are annually required to sign a Conflict of Interest Policy Acknowledgement and Financial Interest Disclosure Statement to foster public confidence in the organization's integrity. Conflict of Interest Policy is documented in the Employee Handbook.”

“The organization obtains a 3rd party consultant to calculate the appropriate salary for each position in the organization given the role and geography of the position. At the start of the fiscal year 2016, salary adjustments were applied to many roles in organization given the results of the third party analysis. The organization assesses market rates once a year to ensure the compensation structure remains competitive.”

“Federal Tax Returns are available at guidestar.org & charitynavigator.org.”

“Governing documents are available for public inspection at the principal place of business.The organization's financial statements are available upon request.”

“Per COLLEGE TRACK REPORT ON AUDIT OF FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2019, Note L:During the year ended June 30, 2019, the Organization determined the value of the student book bank was more significant than originally estimated. It was further resolved that the balance would be available to the student for higher education expenses with no expiration date. As a result, the Organization adjusted the beginning net assets at July 1, 2018 to reflect the accrual of the liability and reduction of net assets without donor restrictions in the amount of $6,015,392.”