2015-10-22T12:13:53-05:00 2015-06-30 042684828 FEELEY & DRISCOLL PC 200 PORTLAND STREET BOSTON MA 02114 990 2014-07-01 760794873 EDVESTORSINCORPORATED EDVE 6175855740 140 CLARENDON STREET SUITE 305 BOSTON MA 02116 LAURA PERILLE CEO & PRESIDENT 6175855740 2015-10-06 1 JEFFREY T ROGERS P01074284 6177427788 2014 2016-02-25 16:41:14Z LAURA PERILLE 140 CLARENDON STREET SUITE 305 BOSTON MA 02116 3998373 0 X WWW.EDVESTORS.ORG X 2005 MA EDVESTORS IS A DYNAMIC SCHOOL CHANGE ORGANIZATION FOCUSED ON ACCELERATING SUBSTANTIVE IMPROVEMENT IN URBAN SCHOOLS. 8 8 17 71 0 0 2250258 3995971 0 0 1225 2402 0 0 2251483 3998373 1197000 1052087 0 0 1071160 1273846 0 0 406534 1561054 1336807 3829214 3662740 -1577731 335633 3918362 3981658 1323129 1050792 2595233 2930866 X EDVESTORS' MISSION IS TO INCREASE THE NUMBER OF SCHOOLS IN BOSTON DELIVERING DRAMATICALLY IMPROVED EDUCATIONAL OUTCOMES FOR ALL STUDENTS. SINCE 2002, THE ENTREPRENEURIAL NON-PROFIT HAS RAISED AND DIRECTED MORE THAN $21 MILLION IN PRIVATE DONATIONS TO URBAN SCHOOLS FOR STRATEGIC IMPROVEMENT EFFORTS. EDVESTORS PROVIDES SEED FUNDING FOR A WIDE RANGE OF EMERGING SCHOOL IMPROVEMENT IDEAS THROUGH THE SCHOOL SOLUTIONS SEED FUND; WE DEVELOP DEMONSTRATION PROJECTS AND DISSEMINATE BEST PRACTICES THROUGH THE IMPROVING SCHOOLS INITIATIVE AND THE $100,000 SCHOOL ON THE MOVE PRIZE; AND WE DRIVE CITYWIDE, SYSTEMIC CHANGE AT SCALE AIMED AT INCREASING SCHOOL QUALITY THROUGH OUR TARGETED IMPACT INITIATIVES, INCLUDING BPS ARTS EXPANSION AND ZEROING IN ON MATH. IN ALL OF OUR WORK, EDVESTORS USES STRATEGIC PHILANTHROPY, EDUCATION EXPERTISE, AND TACTICAL SUPPORT FOR SCHOOLS AND PARTNERS TO FOSTER INNOVATION, DEVELOP SOLUTIONS, AND SPREAD KNOWLEDGE SO THAT MORE SCHOOLS CAN IMPROVE. 0 0 1626101 630000 1183366 ARTS EXPANSION INITIATIVE - A MULTI-YEAR COLLABORATIVE EFFORT TO EXPAND ARTS EDUCATION WITHIN BOSTON PUBLIC SCHOOLS BY PROVIDING EQUITABLE ACCESS TO QUALITY ARTS LEARNING EXPERIENCES FOR ALL STUDENTS. THIS PUBLIC-PRIVATE PARTNERSHIP INVOLVES A LARGE AND COORDINATED NETWORK OF PARTNERS, INCLUDING SCHOOLS, ARTS INSTITUTIONS, TEACHING ARTISTS, AND FUNDERS, AMONG OTHERS. EDVESTORS IS THE LEAD IMPLEMENTATION PARTNER. NOTE: BALANCE OF EXPENSES COVERED BY MULTI-YEAR GRANT RECEIVED IN PRIOR FISCAL YEAR. 570700 293334 IMPROVING SCHOOLS INITIATIVE - A FOUR-YEAR DEMONSTRATION PROJECT, IN PARTNERSHIP WITH THREE UNDERPERFORMING ELEMENTARY SCHOOLS, IN WHICH EDVESTORS PROVIDES EXPERT STRATEGY AND IMPLEMENTATION SUPPORT, AS WELL AS FINANCIAL RESOURCES THAT DRIVE SCHOOL IMPROVEMENT PLANS FORWARD WITH DEPTH AND FIDELITY. NOTE: BALANCE OF EXPENSES COVERED BY GENERAL OPERATING REVENUE OF THE ORGANIZATION. 370073 235000 156897 SCHOOL SOLUTIONS SEED FUND & SCHOOL-BASED INVESTMENTS- THE SEED FUND IS A NEW AND NIMBLE INVESTMENT PIPELINE FOR EDUCATORS TO RECEIVE SUPPORT FOR PROBLEM-SOLVING, EXPERIMENTATION AND INNOVATION IN THEIR SCHOOLS. EACH YEAR, EDVESTORS MAKES INITIAL SEED FUND INVESTMENTS TO UP TO 10 PROMISING IDEAS, WITH A SMALLER NUMBER OF PROJECTS RECEIVING LARGER, LONGER-TERM EXPANSION GRANTS BASED ON EARLY SUCCESS AND THE POTENTIAL FOR IMPACT. AS WITH THE URBAN EDUCATION INVESTMENT PORTFOLIO, GRANTEES ARE FEATURED IN THE ANNUAL SHOWCASE, WHERE DONORS HAVE A UNIQUE OPPORTUNITY TO HEAR DIRECTLY FROM PROGRAM LEADERS ABOUT THEIR STRATEGIES AND SELECT INITIATIVES THEY WISH TO FUND.NOTE: BALANCE OF EXPENSES COVERED BY GENERAL OPERATING REVENUE OF THE ORGANIZATION. 423085 187087 136000 OTHER PROGRAM SERVICES INCLUDES SCHOOL ON THE MOVE PRIZE, ZEROING IN ON MATH AND OTHER PROGRAMMATIC EXPENSES. SCHOOL ON THE MOVE PRIZE - IS BOSTON'S PREMIER AWARD FOR BOSTON PUBLIC SCHOOLS. THE ANNUAL PRIZE INCLUDES A MONETARY AWARD TO A RAPIDLY IMPROVING SCHOOL, WITH SMALLER GRANTS TO THE TWO FINALISTS. THE PRIZE ALSO COMES WITH PUBLIC RECOGNITION OF EXISTING PUBLIC EDUCATION SUCCESS STORIES AND THE OPPORTUNITY FOR WINNING SCHOOLS TO DOCUMENT AND SHARE REPLICABLE STRATEGIES FOR IMPROVEMENT, WHICH EDVESTORS DISSEMINATES TO THE BROADER FIELD OF URBAN EDUCATION THROUGH ANNUAL RESEARCH AND REPORTS.ZEROING IN ON MATH, LAUNCHED IN 2014-15, REPRESENTS THE NEXT GENERATION OF EDVESTORS' SCHOOL IMPROVEMENT WORK AT SCALE. THE ULTIMATE GOAL OF THIS TARGETED IMPACT INITIATIVE IS TO INCREASE THE NUMBER OF BOSTON SCHOOLS THAT ARE ABLE TO EDUCATE AT LEAST 75% OF THEIR STUDENTS TO PROFICIENCY IN MATH BY EIGHTH GRADE. OTHER PROGRAM SERVICES ALSO INCLUDES OTHER PROGRAMMATIC EXPENSES IN SUPPORT OF ALL PROGRAMS.NOTE: BALANCE OF EXPENSES COVERED BY GENERAL OPERATING REVENUE OF THE ORGANIZATION. 423085 187087 136000 2989959 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 53 0 1 17 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X LAURA PERILLE 6175855740 140 CLARENDON STREET SUITE 305 BOSTON MA 02116 WENDELL KNOX BOARD CHAIR 1.00 X X 0 0 0 DAVID SIMON BOARD TREASURER 1.00 X X 0 0 0 KATHERINE S MCHUGH BOARD VICE CHAIR & CLERK 1.00 X X 0 0 0 WILLIAM SCHAWBEL BOARD MEMBER 1.00 X 0 0 0 HARDIN COLEMAN BOARD MEMBER 1.00 X 0 0 0 IAN DEASON BOARD MEMBER 1.00 X 0 0 0 RUTH ELLEN FITCH BOARD MEMBER 1.00 X 0 0 0 KATHERINE GROSS BOARD MEMBER 1.00 X 0 0 0 LAURA PERILLE CEO & PRESIDENT 40.00 X 142631 0 10986 JANET ANDERSON EXECUTIVE VICE PRESIDENT 32.00 X 87197 0 24884 JOHANNA EVEN IMPROVING SCHOOLS DIRECTOR 40.00 X 108967 0 15486 ANURADHA DESAI SENIOR VP - EXTERNAL RELATIONS 40.00 X 156523 0 26717 495318 0 78073 3 0 1 0 PROVERB LLC 543 ALBANY STREET BOSTON MA 02118 COMMUNICATIONS 106461 1 3995971 3995971 2402 2402 3998373 0 0 2402 1052087 1052087 256606 135601 74216 46789 824393 461035 105589 257769 111135 64987 21165 24983 81712 42654 18737 20321 219490 172922 11583 34985 7957 5842 507 1608 90051 73369 6724 9958 2393 1690 446 257 51785 43404 5896 2485 PROGRAM SERVICES 908944 908944 0 0 PRINTING AND PUBLICATIO 15711 10995 598 4118 COMMUNICATIONS 14149 11150 731 2268 ADMINISTRATIVE 12119 0 12119 0 14208 5279 7936 993 3662740 2989959 266247 406534 775930 846018 1290023 832706 1570000 1893430 23351 21733 24911 24911 0 0 259058 387771 3918362 3981658 33927 59024 391470 507057 897732 484711 1323129 1050792 X 672259 857052 1922974 2073814 2595233 2930866 3918362 3981658 335633 0 X X 0 1 X 1 0 X 1947353 2055129 1898228 2250258 2295971 10446939 42000 42000 1989353 2055129 1898228 2250258 2295971 10488939 185000 475000 450000 585000 640000 2335000 0 185000 475000 450000 585000 640000 2335000 8153939 6780 2740 1882 1225 2402 15029 6780 2740 1882 1225 2402 15029 1996133 2057869 1900110 2251483 2298373 10503968 0.77630 0.84580 0.00140 0.00120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24911 24911 0 0 DEPOSITS 6682 LONG TERM PLEDGES RECEIVABLE 381089 387771 ACCRUED LIABILITIES 159711 FUNDS HELD FOR OTHERS 325000 484711 4012077 13704 13704 3998373 0 3998373 3676444 13704 13704 3662740 0 3662740 1 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 CHARLESTOWN HIGH PEER OBSERVATION & REFLECTION BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 EDISON K-8 DIGITAL ACADEMY PILOT BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 HARVARD-KENT READING INTERVENTION BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 JOSEPH LEE K-8 ACADEMIC INTERVENTION BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 ORCHARD GARDENS DIGITAL LITERACY BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 PJ KENNEDY ACCELERATION CLINIC CENTER FOR COLLABORATIVE EDUCATION 33 HARRISON AVE 6TH FLOOR BOSTON MA 02111 043241676 10000 NEW MISSION PROJECT OCHENDO KIPP MASSACHUSETTS 90 HIGH ROCK STREET LYNN MA 01902 464881350 10000 KIPP ACADEMY BOSTON ELEMENTARY K-COLLEGE SOCIEDAD LATINA 1530 TREMONT STREET ROXBURY MA 02120 042678255 10000 SOCIEDAD LATINA "QUIEN YO SOY" TEACH PLUS 27 WORMWOOD STREET SUITE 410 BOSTON MA 02210 263849472 10000 TEACH PLUS C2 AT MURPHY & CURLEY BOSTON DAY & EVENING ACADEMY FOUNDATION 20 KEARSAGE AVE ROXBURY MA 02119 311708923 80000 COMPENTENCY BASED EDUCATION REPLICATION W/ 2 SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 60000 HENDERSON K-12 INCLUSION SCHOOL BOSTON PLAN FOR EXCELLENCE 27 WORMWOOD ST 110 BOSTON MA 02210 222667403 60000 DUDLEY STREET NEIGHBORHOOD CHARTER SCHOOL EARLY LITERACY MASS INSIGHT EDUCATION 18 TREMONT STRET 1010 BOSTON MA 02108 043369687 50000 EAST BOSTON COLLEGE SUCCESS COMMUNITY ACTORS' SHAKESPEARE PROJECT 191 HIGHLAND AVE SOMERVILLE MA 02143 200815685 14000 ACTORS' SHAKESPEARE PROJECT- BDEA, L. FREDERICK, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 BOSTON CHILDREN'S CHORUS 112 SHAWMUT AVE BOSTON MA 02118 651188279 20000 BOSTON CHILDREN'S CHORUS- BPS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 6 2014-2015 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 BINCA-UNDERGROUND RAILWAY THEATER, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 A- UNDERGROUND RAILWAY THEATER, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 5000 BRIGHTON HIGH- ACTORS' SHAKESPEARE PROJECT, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 7000 EDISON K8- AMELIA GOSSETT, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 5000 GARDNER PILOT- YAMA, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 JQES- BLUEBRICK STUDIOS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 LEE ACADEMY- DOTART, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 MMM- MULTIPLE SCHOOLS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 12000 MARIO UMANA- ZUMIX, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 WARREN PRESCOTT- BOSTON CONSERVATORY, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 COMMUNITY MUSIC CENTER OF BOSTON 34 WARREN AVE BOSTON MA 02116 042437973 70000 CMCB- MULTIPLE SCHOOLS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 COMPANY ONE 539 TREMONT STREET BOSTON MA 02116 043444644 32000 COMPANY ONE- MULTIPLE SCHOOLS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 EDWARD M KENNEDY ACADEMY FOUNDATION 102 CAHNERS HALL 360 HUNGTINTON AVE AVE BOSTON MA 02115 272438940 10000 EMK- JASMIN DAVIS SHEARER, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 ELIOT SCHOOL 24 ELIOT STREET BOSTON MA 02130 042173050 45000 ELIOT SCHOOL- MULTIPLE SCHOOLS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 FENWAY HIGH SCHOOL FUND 174 IPSWITCH ST BOSTON MA 02215 046719813 25000 FENWAY HS- MULTIPLE PARTNERS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 MASS POETRY OUTREACH PROJECT 15 CHANNEL CENTER STREET SUITE 103 BOSTON MA 02210 270584283 20000 MASS LEAP- MULTIPLE SCHOOLS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 VSA MASSACHUSETTS 89 SOUTH STREET 101 BOSTON MA 02111 042699540 55000 VSA- MULTIPLE SCHOOLS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 7 2015-2016 VSA MASSACHUSETTS 89 SOUTH STREET 101 BOSTON MA 02111 042699540 35000 VSA MASS- BPS, FOR PROFESSIONAL DEVELOPMENT, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS. ROUND 6 2014-2015 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR ROXBURY MA 02108 222514422 25000 HURLEY K8 SCHOOL SOM 2014 FINALIST BOSTON EDUCATOINAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR ROXBURY MA 02108 222514422 25000 ORCHARD GARDENS K8 PILOT SCHOOL SOM 2014 FINALIST FRIENDS OF THE TROTTER SCHOOL 135 HUMBOLDT AVE DORCHESTER MA 02121 463768128 80000 TROTTER SCHOOL SOM 2014 WINNER BOSTON EDUCATIONAL DEVELOPMENT FDTN 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 20000 ENGLISH HS SUMMER PATHWAY BOSTON EDUCATIONAL DEVELOPMENT FDTN 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 5000 CAROL R. JOHNSON ARTS EDUCATION AWARD BOSTON EDUCATIONAL DEVELOPMENT FDTN 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 20000 BPS PATH TO EXCELLENCE 39 FORM 990, PART IX, LINE 1 EDVESTORS MONITORS THE USE OF TWO-YEAR GRANT FUNDS FOR ALL GRANTEES IN THE EDVESTORS PORTFOLIO BY CONDUCTING PHONE CALL UPDATES EACH FALL OF THE GRANT, A YEAR 1 REPORT IN MAY OF THE FIRST YEAR, AND A FINAL REPORT IN JUNE AT THE END OF THE SECOND YEAR OF THE GRANT. IN ADDITION TO A WRITTEN REPORT, EDVESTORS ALSO CONDUCTS IN-PERSON SITE VISITS OR MEETINGS BEFORE THE RELEASE OF YEAR 2 FUNDS. FOR SEED FUND LEARNING GRANTS, RECIPIENTS SUBMIT A PROJECT-END REPORT IN MAY, AND MAY RECEIVE A SITE VISIT OR PHONE CALL IN THE SPRING. ONE-YEAR SEED FUND EXPANSION GRANT RECIPIENTS PARTICIPATE IN A FALL PHONE CALL AND SUBMIT A YEAR-END REPORT IN JUNE. FOR ONE-YEAR GRANTS THROUGH THE ARTS EXPANSION INITIATIVE, A PRELIMINARY REPORT IS DUE IN NOVEMBER AND A FINAL REPORT DUE IN JUNE. X X X 0 0 0 0 0 0 0 0 0 LAURA PERILLE CEO & PRESIDENT 142631 0 0 0 0 0 0 0 10986 0 153617 0 0 0 ANURADHA DESAI SENIOR VP - EXTERNAL RELATIONS 146523 0 10000 0 0 0 0 0 26717 0 183240 0 0 0 PART I, LINE 3 THE PROCESS FOR DETERMINING COMPENSATION FOR TOP ORGANIZATION POSITIONS, INCLUDING CEO & PRESIDENT AND OTHER KEY EMPLOYEES IS AS FOLLOWS: (A) ANNUAL PERFORMANCE AND SALARY/COMPENSATION REVIEW BY CEO & PRESIDENT FOR TOP MANAGEMENT AND KEY EMPLOYEES AND BY THE GOVERNING BOARD EXECUTIVE COMMITTEE FOR CEO & PRESIDENT, WITH FINAL APPROVAL BY FULL GOVERNING BOARD, AT RECOMMENDATION OF EXECUTIVE COMMITTEE, AS PART OF THE ORGANIZATION'S ANNUAL BUDGET APPROVAL PROCESS. (B) COMPARABILITY DATA IS GATHERED TO INFORM RECOMMENDED SALARY LEVELS FOR ALL NEWLY CREATED MANAGEMENT AND KEY EMPLOYEE POSITIONS. (C) EDVESTORS MANAGEMENT WILL INSTITUTE A SALARY COMPENSATION REVIEW EVERY 2-3 YEARS (OR FIND COMPARABLE EXISTING REPORT FROM EXTERNAL SOURCE) FOR CURRENT KEY EMPLOYEE POSITIONS. FORM 990, PART VI, SECTION B, LINE 11 THE EXECUTIVE COMMITTEE OF THE GOVERNING BOARD WILL HAVE THE OPPORTUNITY TO REVIEW THE FORM 990. THE FORM 990 WILL THEN BE SHARED WITH ALL MEMBERS OF THE GOVERNING BOARD PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C GOVERNING BOARD OFFICERS AND MEMBERS ARE REQUIRED TO DISCLOSE ANNUALLY ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. A CONFLICT OF INTEREST FORM WILL BE UPDATED BY EACH BOARD MEMBER AND SUBMITTED TO EDVESTORS MANAGEMENT AND THE EXECUTIVE COMMITTEE IN ADVANCE OF THE ANNUAL MEETING EACH SEPTEMBER, AND THROUGHOUT THE YEAR AS NEW MEMBERS JOIN THE GOVERNING BOARD. BOARD MEMBERS ARE REQUIRED TO INFORM THE BOARD CHAIR OF ANY POTENTIAL CONFLICTS AND NEED TO RECUSE THEMSELVES FROM VOTING ON ANY ACTION ITEMS FOR WHICH THEY HAVE A POTENTIAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR TOP ORGANIZATION POSITIONS, INCLUDING CEO & PRESIDENT AND OTHER KEY EMPLOYEES IS AS FOLLOWS: (A) ANNUAL PERFORMANCE AND SALARY/COMPENSATION REVIEW BY CEO & PRESIDENT FOR TOP MANAGEMENT AND KEY EMPLOYEES AND BY THE GOVERNING BOARD EXECUTIVE COMMITTEE FOR CEO & PRESIDENT, WITH FINAL APPROVAL BY FULL GOVERNING BOARD, AT RECOMMENDATION OF EXECUTIVE COMMITTEE, AS PART OF THE ORGANIZATION'S ANNUAL BUDGET APPROVAL PROCESS. (B) COMPARABILITY DATA IS GATHERED TO INFORM RECOMMENDED SALARY LEVELS FOR ALL NEWLY CREATED MANAGEMENT AND KEY EMPLOYEE POSITIONS. (C) EDVESTORS MANAGEMENT WILL INSTITUTE A SALARY COMPENSATION REVIEW EVERY 2-3 YEARS (OR FIND COMPARABLE EXISTING REPORT FROM EXTERNAL SOURCE) FOR CURRENT KEY EMPLOYEE POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 EDVESTORS MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST. IN ADDITION, ANNUAL FINANCIAL STATEMENTS ARE FILED WITH THE MASSACHUSETTS DIVISION OF CHARITIES AND ARE AVAILABLE FOR PUBLIC VIEWING. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILTY FOR OVERSIGHT OF THE AUDIT, REVIEW, OR COMPILATION OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. NO CHANGES HAVE BEEN MADE TO THIS PROCESS FROM THE PRIOR YEAR.