The Educare Foundation

“Board member and organization president, stuart semigran, and board member, candace semigran, have a family relationship.”

“Two board members, one of whom is typically organization president, stuart semigran, review the 990 prior to filing. The entire board of directors receives a copy of the 990 after it has been filed.”

“Each educare officer and board member reviews and signs conflicts of interest form at the beginning of her/her service to educare. The conflict of interest form is kept in the organization's central files.”

“Educare's board of directors has a subcommittee, the compensation committee, which reviews and approves the compensation for educare's president and other senior management. The compensation committee utilizes specific criteria when conducting salary reviews such as 1) the general economic climate of the nation / region; 2) the economic health and forecasted health of the non-profit; 3) job performance; and 4) salaries compared to other non-profits doing similar work, of similar size, and in a similar geographic region.”

“Governing documents, financial statements and conflict of interest policies are available to educare's senior management and board of directors. The organization provides the general public access to these documents upon request.”

“Due to a significant accounting and data system issue that occurred in september 2023 and was not fully resolved until may 2024, the organization encountered challenges in accessing complete financial information. This return has been prepared using the best information available to date.”

“Other adjustments -197,643.”

“The process remains the same as prior year.”

“The organization has contracted with a cpa firm to conduct audits for both the june 30, 2023 and june 30, 2024 fiscal years. A significant accounting system issue occurred in september 2023, which took until may 2024 to fully resolve. As a result, the june 30, 2023 audit is currently underway, and the june 30, 2024 audit will commence thereafter.”