TY 2021 Form 990 Schedule O

Instrumentl eFile RenderObject ID: 202232639349300138 - Rendered 2024-05-03 TIN: 94-3281780

SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2021

Open to Public
Inspection

Name of the organization

NEW SCHOOLS FUND

Employer identification number

94-3281780

Return Reference	Explanation
FORM 990, PART III, LINE 3	IN 2021, NEWSCHOOLS CEASED BEING THE FISCAL SPONSOR OF AERDF, AS AERDF WAS SETUP AS ITS OWN LEGAL ENTITY AND OBTAINED 501(C)(3) STATUS.
FORM 990, PART VI, SECTION B, LINE 11B	THE ORGANIZATION'S ACCOUNTING FIRM WILL FORWARD THE FORM 990 TO THE CFO FOR REVIEW. THE CFO 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 CFO ENCOURAGES THE BOARD OF DIRECTORS TO REVIEW THE FORM 990 AND TO FORWARD ANY QUESTIONS. THE CFO WILL ADDRESS QUESTIONS FROM THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION B, LINE 12C	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.
FORM 990, PART VI, SECTION B, LINE 15	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.
FORM 990, PART VI, SECTION C, LINE 19	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.
FORM 990, PART XI, LINE 9:	NET ASSET TRANSFER -18,464,054. RETURNED GRANT FUNDS 104,879.

Return Reference

Explanation

FORM 990, PART III, LINE 3

IN 2021, NEWSCHOOLS CEASED BEING THE FISCAL SPONSOR OF AERDF, AS AERDF WAS SETUP AS ITS OWN LEGAL ENTITY AND OBTAINED 501(C)(3) STATUS.

FORM 990, PART VI, SECTION B, LINE 11B

THE ORGANIZATION'S ACCOUNTING FIRM WILL FORWARD THE FORM 990 TO THE CFO FOR REVIEW. THE CFO 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 CFO ENCOURAGES THE BOARD OF DIRECTORS TO REVIEW THE FORM 990 AND TO FORWARD ANY QUESTIONS. THE CFO WILL ADDRESS QUESTIONS FROM THE BOARD OF DIRECTORS.

FORM 990, PART VI, SECTION B, LINE 12C

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.

FORM 990, PART VI, SECTION B, LINE 15

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.

FORM 990, PART VI, SECTION C, LINE 19

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.

FORM 990, PART XI, LINE 9:

NET ASSET TRANSFER -18,464,054. RETURNED GRANT FUNDS 104,879.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) 2021

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