New Schools Fund

“In 2023, the organization amended and restated its bylaws. The changes include: 1. The maximum number of board directors shall be limited to 15. 2. The audit committee is authorized to approve the retention and termination of an independent certified public accountant to serve as auditor, as well as negotiate and approve the auditor's compensation on behalf of the board.”

“The organization's accounting firm will forward the form 990 to the finance director for review. The finance director will then forward the form 990 to the ceo and coo for review. The form 990 will then be shared with the audit committee for review and discussion. The form 990 is then distributed to the board of directors. The coo encourages the board of directors to review the form 990 and to forward any questions. The coo will address questions from the board of directors.”

“The organization requires that its officers, employees, and agents report any potential conflict of interest to the ceo, who reviews any such report with the full board of directors, which then makes a determination as to whether any such conflict exists. The board of directors documents any such determination in the minutes of the appropriate meetings of the board of directors and any directive pertaining thereto. Conflicts that relate to an investment decision requiring board approval result in the recusal of that individual from the recommendation and approval process.”

“The organization obtained compensation studies from several independent sources to compile information used as a metric for salary increases across the organization, including the ceo and other executive management. The compensation committee, a subcommittee of the board of directors (bod), conducts the review of the ceo and develops a recommendation for the full bod. The formal performance evaluation and compensation decision is done in executive session. The ceo conducts performance reviews and sets compensation for the senior executives reporting to her.”

“The organization makes its governing documents and conflict of interest policy available to the public upon request. Financial statements are available to the public at all times on the organization's website.”

“Research services: program service expenses 5,337,417. Management and general expenses 4,200. Fundraising expenses 0. Total expenses 5,341,617. Project consulting services: program service expenses 1,078,974. Management and general expenses 787,935. Fundraising expenses 500. Total expenses 1,867,409.”