2014-10-24T11:59:51-05:00 2014-06-30 042684828 FEELEY & DRISCOLL PC 200 PORTLAND STREET BOSTON MA 02114 990 2013-07-01 760794873 EDVESTORSINCORPORATED EDVE 6175855740 140 CLARENDON STREET SUITE 305 BOSTON MA 02116 LAURA PERILLE CEO & PRESIDENT 6175855740 2014-10-15 1 JEFFREY T ROGERS P01074284 6177427788 2013 2015-11-30 17:44:51Z LAURA PERILLE 140 CLARENDON STREET SUITE 305 BOSTON MA 02116 2251483 0 X WWW.EDVESTORS.ORG X 2005 MA EDVESTORS IS A DYNAMIC SCHOOL CHANGE ORGANIZATION FOCUSED ON ACCELERATING SUBSTANTIVE IMPROVEMENT IN URBAN SCHOOLS THROUGH STRATEGIC PHILANTHROPY, EDUCATION EXPERTISE, AND HANDS-ON IMPLEMENTATION, WORKING IN PARTNERSHIP WITH DONORS AND FRONTLINE EDUCATION LEADERS. SINCE 2002, THE ENTREPRENEURIAL NONPROFIT HAS RAISED AND DIRECTED OVER $18 MILLION IN PRIVATE DONATIONS FOR URBAN SCHOOL IMPROVEMENT EFFORTS IN BOSTON THROUGH EDVESTORS' URBAN EDUCATION INVESTMENT PORTFOLIO, THE BPS ARTS EXPANSION INITIATIVE, THE SCHOOL ON THE MOVE PRIZE, AND THE IMPROVING SCHOOLS INITIATIVE, PARTNERING WITH A COHORT OF HIGH-NEED SCHOOLS TO ACCELERATE IMPROVEMENT. 11 11 17 60 0 0 1898228 2250258 0 0 1882 1225 0 0 1900110 2251483 1019000 1197000 0 0 1002685 1071160 0 0 313579 1424430 1561054 3446115 3829214 -1546005 -1577731 4853808 3918362 680844 1323129 4172964 2595233 X EDVESTORS IS A DYNAMIC SCHOOL CHANGE ORGANIZATION FOCUSED ON ACCELERATING SUBSTANTIVE IMPROVEMENT IN URBAN SCHOOLS THROUGH STRATEGIC PHILANTHROPY, EDUCATION EXPERTISE, AND HANDS-ON IMPLEMENTATION, WORKING IN PARTNERSHIP WITH DONORS AND FRONTLINE EDUCATION LEADERS. SINCE 2002, THE ENTREPRENEURIAL NONPROFIT HAS RAISED AND DIRECTED OVER $18 MILLION IN PRIVATE DONATIONS FOR URBAN SCHOOL IMPROVEMENT EFFORTS IN BOSTON THROUGH EDVESTORS' URBAN EDUCATION INVESTMENT PORTFOLIO, THE BPS ARTS EXPANSION INITIATIVE, THE SCHOOL ON THE MOVE PRIZE, AND THE IMPROVING SCHOOLS INITIATIVE, PARTNERING WITH A COHORT OF HIGH-NEED SCHOOLS TO ACCELERATE IMPROVEMENT. 0 0 1813761 687000 525504 ARTS EXPANSION INITIATIVE - A MULTI-YEAR INITIATIVE IN PARTNERSHIP WITH THE BOSTON PUBLIC SCHOOLS TO EXPAND ARTS INSTRUCTION, BUILD DISTRICT CAPACITY, AND IMPROVE COORDINATION AMONG SCHOOLS, ARTS AND CULTURAL ORGANIZATIONS AND HIGHER EDUCATION INSTITUTIONS. EDVESTORS IS THE LEAD IMPLEMENTATION PARTNER WORKING CLOSELY WITH THE SCHOOL DISTRICT, FUNDERS, AND PARTNERS TO INCREASE ACCESS TO EQUITABLY DISTRIBUTED, HIGH-QUALITY ARTS OPPORTUNITIES FOR BOSTON PUBLIC SCHOOL STUDENTS. NOTE: BALANCE OF EXPENSES COVERED BY MULTI-YEAR GRANT RECEIVED IN PRIOR FISCAL YEAR. 606654 298333 IMPROVING SCHOOLS INITIATIVE - AN INITIATIVE DESIGNED TO ENGAGE IN A DEEP SCHOOL IMPROVEMENT PARTNERSHIP WITH AN INITIAL COHORT OF THREE SCHOOLS TO PROVIDE IMPLEMENTATION SUPPORT AND RESOURCES AIMED AT ACCELERATING THEIR IMPROVEMENT TRAJECTORY OVER A THREE-YEAR PERIOD. SCHOOLS WILL RECEIVE TACTICAL SUPPORT AND RESOURCES TO IMPLEMENT IMPROVEMENT STRATEGIES TAILORED TO SCHOOL NEEDS, COUPLED WITH COACHING, FACILITATION AND CHANGE PROCESS MANAGEMENT. NOTE: BALANCE OF EXPENSES COVERED BY GENERAL OPERATING REVENUE OF THE ORGANIZATION. 512404 380000 147203 URBAN EDUCATION INVESTMENT PORTFOLIO AND SCHOOL-BASED INVESTMENTS - THROUGH RIGOROUS DUE DILIGENCE AND EDUCATION EXPERTISE, EDVESTORS IDENTIFIES PROMISING SCHOOL IMPROVEMENT STRATEGIES FROM AMONG A WIDE RANGE OF APPLICANTS INCLUDING INDIVIDUAL SCHOOLS, NONPROFIT PARTNERS, AND DISTRICT LEADERS. THE TOP FINALISTS 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. EDVESTORS THEN SUPPORTS EACH FUNDED INITIATIVE WITH OUTCOME MEASUREMENT AND IMPLEMENTATION ASSISTANCE. NOTE: BALANCE OF EXPENSES COVERED BY GENERAL OPERATING REVENUE OF THE ORGANIZATION. 333577 130000 152500 SCHOOL ON THE MOVE PRIZE - HIGHLIGHTS THE CHALLENGING WORK AND LESS PUBLICIZED ACHIEVEMENTS OF SCHOOLS THAT ARE CLOSING THE ACHIEVEMENT GAP FOR ALL STUDENTS. THE PRIZE INCLUDES A MONETARY AWARD TO THE WINNING SCHOOL FOR DISCRETIONARY SCHOOL IMPROVEMENT AND FUNDING TO FACILITATE THE SHARING OF BEST PRACTICES. ALSO INCLUDES OTHER PROGRAMMATIC EXPENSES, TOTALING $154,799, IN SUPPORT OF ALL PROGRAMS.NOTE: BALANCE OF EXPENSES COVERED BY GENERAL OPERATING REVENUE OF THE ORGANIZATION. 333577 130000 152500 3266396 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 70 0 1 17 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 1 0 0 0 0 0 0 1 0 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 PHILIP GORDON BOARD MEMBER 1.00 X 0 0 0 IAN DEASON BOARD MEMBER 1.00 X 0 0 0 WILLIAM DANDRIDGE BOARD MEMBER 1.00 X 0 0 0 MICHAEL DOUVADJIAN 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 139882 0 10937 JANET ANDERSON EXECUTIVE VICE PRESIDENT 32.00 X 83814 0 22814 JOHANNA EVEN IMPROVING SCHOOLS DIRECTOR 40.00 X 110144 0 15653 333840 0 49404 2 0 1 0 0 2250258 2250258 1225 1225 2251483 0 0 1225 1197000 1197000 362095 246020 71444 44631 556015 281703 92348 181964 80968 42581 19903 18484 72082 38340 17333 16409 178719 131702 16055 30962 6810 315 6376 119 90642 77298 5944 7400 2712 942 1622 148 41051 27452 5135 8464 PROGRAM SERVICES 1199770 1199770 0 0 COMMUNICATIONS 14249 11571 747 1931 PRINTING AND PUBLICATIO 12406 9634 0 2772 ADMINISTRATIVE 8431 29 8402 0 6264 2039 3930 295 3829214 3266396 249239 313579 337227 775930 862170 1290023 2648658 1570000 11190 23351 24911 24911 0 0 994563 259058 4853808 3918362 20714 33927 533778 391470 126352 897732 680844 1323129 X 438062 672259 3734902 1922974 4172964 2595233 4853808 3918362 -1577731 0 X X 0 1 X 1 0 X 4240305 1947353 7555129 1898228 2250258 17891273 125359 42000 167359 4365664 1989353 7555129 1898228 2250258 18058632 0 0 0 18058632 8931 6780 2740 1882 1225 21558 8931 6780 2740 1882 1225 21558 4374595 1996133 7557869 1900110 2251483 18080190 0.99880 0.99850 0.00120 0.00150 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24911 24911 0 0 DEPOSITS 6682 LONG TERM PLEDGES RECEIVABLE 252376 259058 ACCRUED LIABILITIES 127712 FUNDS HELD FOR OTHERS 770020 897732 2260357 8874 8874 2251483 0 2251483 3838088 8874 8874 3829214 0 3829214 1 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 75000 ORCHARD GARDENS: TEACHER LEADERSHIP FAMILY SERVICE OF GREATER BOSTON 31 HEATH ST BOSTON MA 02130 042160528 50000 NEIGHBORHOOD HOUSE CHARTER SCHOOL AND FAMILY SERVICE OF GREATER BOSTON: MEN IN THE MAKING THE ACHIEVEMENT NETWORK LTD 225 FRIEND ST 704 BOSTON MA 02114 203289870 25000 ACHIEVEMENT NETWORK FOR 2013-2014 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 50000 BPS: I3 TURNAROUND WITH INCREASED LEARNING TIME BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 50000 BPS ASPIRING PRINCIPALS PROGRAM BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 105000 BPS FAMILY ENGAGEMENT: ACADEMIC PARENT TEACHER TEAMS CRISTO REY BOSTON 100 SAVIN HILL AVENUE BOSTON MA 02125 562438544 25000 STUDENT RETENTION INITIATIVE ACTORS' SHAKESPEARE PROJECT 191 HIGHLAND AVE SOMERVILLE MA 02143 200815685 30000 ACTORS' SHAKESPEARE PROJECT - BDEA, CHARLESTOWN HS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 AND ROUND 5 2013-14 ART RESOURCE COLLABORATIVE FOR KIDS 59 BEACON STREET SUITE 1 BOSTON MA 02108 455442979 10000 ART RESOURCE COLLABORATIVE FOR KIDS - BLACKSTONE, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 ARTISTS FOR HUMANITY 100 W 2ND ST BOSTON MA 02127 043138434 12000 TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 5 2013-14 BALLETROX 284 AMORY ST JAMAICA PLAIN MA 02130 043140205 15000 BALLETROX - KENNY, MATHER, HUNNIGAN, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 BOSTON DANCE ALLIANCE 19 CLARENDON ST BOSTON MA 02116 043064755 25000 URBANITY DANCE, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 5, 2013-14 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 16000 QUINCY ELEMENTARY, CRISTOS HAMAWI - TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 11000 DORCHESTER ACADEMY - TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 9000 SNOWDEN, PRESSPASS TV- TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 17000 MARIO UMANA ACADEMY- ZUMIX, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 16000 O'BRYANT - JANICE ROGOVIN, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 14000 BURKE - UNDERGROUND RAILWAY THEATER, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 11000 MAKING MUSIC MATTERS!, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 BOSTON LYRIC OPERA 11 AVENUE DE LAFAYETTE BOSTON MA 02111 042469627 18000 TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 CITY STAGE COMPANY 539 TREMONT ST BOSTON MA 02116 510147180 27000 CITY STAGE- ROGERS, TYNAN, HALE, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 COMMUNITY ARTS ADVOCATES INC 39 ROBESON ST BOSTON MA 02130 710877553 5000 COMMUNITY ARTS ADVOCATES- BRIGHTON HIGH, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 COMMUNITY MUSIC CENTER OF BOSTON 34 WARREN AVE BOSTON MA 02116 042437973 185000 COMMUNITY MUSIC CENTER OF BOSTON - TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 AND ROUND 5 2013-2014 COMPANY ONE 539 TREMONT STREET BOSTON MA 02116 043444644 24000 COMPANY ONE - ACC, BATA, BURKE, USA, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 ELIOT SCHOOL OF FINE ARTS 24 ELIOT STREET BOSTON MA 02130 042173050 70000 TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 AND ROUND 5 2013-14 FENWAY HIGH SCHOOL FUND 174 IPSWITCH ST BOSTON MA 02215 046719813 10000 FENWAY HIGH SCHOOL FUND, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 HANDEL AND HAYDN SOCIETY 9 HARCOURT ST BOSTON MA 02116 042126598 5000 HANDEL AND HAYDN SOCIETY - PERKINS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 HUNTINGTON THEATRE COMPANY 264 HUNTINGTON AVENUE BOSTON MA 02115 222659560 19000 TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 HYDE SQUARE TASK FORCE 375 CENTRE STREET BOSTON MA 02130 043118543 75000 TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 5 2013-14 EDWARD M KENNEDY ACADEMY FOR HEALTH CARE 102 CAHNERS HALL 360 HUNTINGTON AVE AVE BOSTON MA 02115 272438940 10000 TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 MASSLEAP 93 GLEN STREET SOMERVILLE MA 02145 270584283 36000 MASS LEAP- CASH, USA, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 ONEWORLD CLASSROOMS 180 MAIN STREET ANDOVER MA 01810 200776190 9000 ONEWORLD CLASSROOMS- OTIS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 PRESSPASS TV 565 BOYLSTON STREET 5HT FLOOR BOSTON MA 02116 800214659 9000 PRESSPASS TV- COMMUNITY ACADEMY, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 PROJECT HIP-HOP 2181 WASHINGTON ST ROXBURY MA 02119 043574567 8000 PROJECT HIP-HOP- BDEA, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 SOCIEDAD LATINA 1530 TREMONT STREET ROXBURY MA 02120 042678255 16000 SOCIEDAD LATINA, TIMILITY, TOBIN, NEW MISSION, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 URBANITY DANCE 280 SHAWMUT AVE 1 BOSTON MA 02118 043064755 24000 URBANITY DANCE- CHARLESTOWN HIGH SCHOOL, EXCEL, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 URBANO PROJECT 29 GERMANIA ST JAMAICA PLAIN MA 02130 453346266 9000 URBANO PROJECT- BINCA, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 VSA MASSACHUSETTS 89 SOUTH STREET 101 BOSTON MA 02111 042699540 84600 TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 AND ROUND 5 2013-14 YOUTH AND FAMILY ENRICHMENT SERVICES 1234 HYDE PARK AVE 104 BOSTON MA 02136 050588064 9000 YOFES - BINCA,TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 ZUMIX INC 260 SUMMER STREET EAST BOSTON MA 02128 043132674 17000 ZUMIX, EAST BOSTON HS, TO EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS - ROUND 6 2014-15 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 80000 CONLEY ELEMENTARY SCHOOL, SCHOOL ON THE MOVE WINNER 2013 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 25000 ORCHARD GARDENS ELEMENTARY SCHOOL, SCHOOL ON THE MOVE FINALIST 2013 CENTER FOR COLLABORATIVE EDUCATION 33 HARRISON AVENUE 6TH FLOOR BOSTON MA 02111 043241676 25000 URBAN SCIENCE ACADEMY, SCHOOL ON THE MOVE FINALIST 2013 43 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 ONE-YEAR GRANTS THROUGH THE ARTS EXPANSION INITIATIVE, A PRELIMINARY REPORT IS DUE IN NOVEMBER AND A FINAL REPORT DUE IN JUNE. X 0 0 0 0 0 0 0 0 0 LAURA PERILLE CEO & PRESIDENT 139882 0 0 0 0 0 0 0 10937 0 150819 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 A, LINE 2 SOME BOARD MEMBERS HAVE BUSINESS RELATIONSHIPS WITH ONE ANOTHER AS DISCLOSED ON THEIR CONFLICT OF INTEREST FORMS. ONE BOARD MEMBER SERVES AS FINANCIAL ADVISOR TO ANOTHER. FORM 990, PART VI, SECTION A, LINE 8B WHEN TAKING ACTION ON BEHALF OF THE GOVERNING BOARD, MINUTES OF THE EXECUTIVE COMMITTEE WILL BE TAKEN TO DOCUMENT THE ACTION. 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. FORM 990, PART I, LINE 19: WHILE THE ORGANIZATION DREW DOWN ON ITS NET ASSETS FOR THE CURRENT FISCAL YEAR (-1,577,731), THIS REFLECTS THE USE OF TEMPORARILY RESTRICTED FUNDS RAISED IN PRIOR FISCAL YEARS AND THEREFORE NOT A DEFICIT IN THE CURRENT YEAR OPERATIONS.