2012-11-12T13:18:11-06:00 2012-06-30 042684828 FEELEY & DRISCOLL PC 200 PORTLAND STREET BOSTON MA 02114 990 2011-07-01 760794873 EDVESTORSINCORPORATED EDVE 6175855740 140 CLARENDON STREET SUITE 305 BOSTON MA 02116 LAURA PERILLE 6175855740 2012-11-02 1 JEFFREY T ROGERS P01074284 6177427788 2011 2016-02-24 21:20:13Z LAURA PERILLE 140 CLARENDON STREET SUITE 305 BOSTON MA 02116 7557869 0 X WWW.EDVESTORS.ORG X 2005 MA EDVESTORS DRIVES CHANGE IN URBAN SCHOOLS THROUGH SMART, STRATEGIC PRIVATE INVESTMENT. EDVESTORS SEEKS TO ACCELERATE CHANGE IN URBAN SCHOOLS BY IDENTIFYING AND SHAPING THE MOST EFFECTIVE INITIATIVES, PARTNERING WITH DONORS TO INVEST IN THESE EFORTS, AND SUPPORTING PROJECT LEADERS WITH HANDS-ON EXPERTISE. 11 11 12 88 0 0 1947353 7555129 42000 0 6780 2740 0 0 1996133 7557869 1590000 1351220 0 0 550246 773527 0 0 361516 623573 783671 2763819 2908418 -767686 4649451 2335083 7058025 1265565 1339056 1069518 5718969 X EDVESTORS IS A DYNAMIC SCHOOL CHANGE ORGANIZATION FOCUSED ON ACCELERATING SUBSTANTIVE IMPROVEMENT IN URBAN SCHOOLS. SINCE 2002, THE ENTREPRENEURIAL NON-PROFIT HAS RAISED AND GRANTED OVER $12 MILLION IN PRIVATE DONATIONS TO URBAN SCHOOLS FOR STRATEGIC IMPROVEMENT EFFORTS. TARGETED PRIMARILY IN BOSTON, FUNDED INITIATIVES ARE CAREFULLY MONITORED FOR RESULTS AND THE MOST EFFECTIVE ARE DISTINGUISHED FOR EXPANSION AND REPLICATION. 0 0 1251267 741220 4852910 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: REVENUE INCLUDES A MULTI-YEAR GIFT RECEIVED IN CURRENT FISCAL YEAR FOR FUTURE YEARS ARTS EXPANSION EXPENSES. 663426 510000 545903 URBAN EDUCATION INVESTMENT PORTFOLIO & SHOWCASE - 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 ARE COVERED BY GENERAL OPERATING REVENUE OF THE ORGANIZATION. 234487 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 ARE COVERED BY GENERAL OPERATING REVENUE OF THE ORGANIZATION. 190680 100000 171700 OTHER PROGRAM SERVICE EXPENSES INCLUDE THE ANNUAL THOMAS W. PAYZANT SCHOOL ON THE MOVE PRIZE WHICH HIGHLIGHTS RAPIDLY IMPROVING 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 FOR THE SHARING OF BEST PRACTICES. OTHER PROGRAM SERVICES ALSO INCLUDES EXPENSES IN SUPPORT OF ALL PROGRAMS. 190680 100000 171700 2339860 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 0 1 21 0 1 12 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 LAURA PERILLE 6175855740 140 CLARENDON STREET SUITE 305 BOSTON MA 02116 DAVID SIMON 1.00 X X 0 0 0 KATHERINE S MCHUGH 1.00 X X 0 0 0 WILLIAM SCHAWBEL 1.00 X 0 0 0 HARDIN COLEMAN 1.00 X 0 0 0 PHILIP GORDON 1.00 X 0 0 0 MICHAEL MARINO 1.00 X 0 0 0 WILLIAM DANDRIDGE 1.00 X 0 0 0 MICHAEL DOUVADJIAN 1.00 X 0 0 0 KATE GUEDJ 1.00 X 0 0 0 STEVEN KOPPEL 1.00 X X 0 0 0 LAURA PERILLE 40.00 X 140619 0 10484 JANET ANDERSON 32.00 X 67134 0 21044 WENDELL KNOX 1.00 X 0 0 0 207753 0 31528 1 0 1 0 0 7555129 7555129 2740 2740 7557869 0 0 2740 1351220 1351220 216070 117739 34366 63965 452426 246532 71959 133935 52182 28434 8300 15448 52849 28798 8406 15645 251610 137105 40019 74486 5634 3070 896 1668 86564 47170 13768 25626 5016 2733 798 1485 57775 31482 9189 17104 2101 2101 2220 1210 353 657 ARTS INITIATIVE 320002 320002 PRINTING AND PUBLICATIO 21896 11931 3483 6482 COMMUNICATIONS 9833 5358 1564 2911 BAD DEBT RESERVE 8000 3200 4800 13020 3876 7040 2104 2908418 2339860 207042 361516 138464 550647 999071 2393537 913500 1248000 9000 14171 16393 24911 22937 4195 1974 256682 2847474 2335083 7058025 63317 40594 1069780 1191429 67500 12500 64968 94533 1265565 1339056 X 186126 313156 883392 5405813 1069518 5718969 2335083 7058025 4649451 0 X 0 1 1 X 0 X 1476749 2126559 4240305 1947353 7555129 17346095 375358 281884 125359 42000 824601 1852107 2408443 4365664 1989353 7555129 18170696 0 0 0 18170696 12670 6575 8931 6780 2740 37696 12670 6575 8931 6780 2740 37696 1864777 2415018 4374595 1996133 7557869 18208392 0.99790 0.00210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24911 22937 1974 1974 DEPOSITS 6682 LONG TERM PLEDGES RECEIVABLE 2840792 2847474 ACCRUED LIABILITIES 94533 94533 7557869 2908418 4649451 4649451 7557869 0 7557869 0 7557869 2908418 0 2908418 0 2908418 1 BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 18000 ADAMS - CMCB - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 20000 DEVER-MCCORMACK- CMCB - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 14000 CURLEY - CMCB - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 21000 DEARBORN - CMCB - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 24000 BRADLEY - CMCB - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 12000 TAYLOR - CMCB - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 18000 O'DONNELL - CMCB - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 5000 ADAMS - VSA - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 18000 CONDON - VSA - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 9000 DORCHESTER - VSA - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 15000 TAYLOR - VSA - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 23000 BOSTON GREEN ACADEMY - VSA - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 19000 BATA - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 15000 EDISON K8 - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 19000 MAKING MUSIC MATTERS - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 13000 MATHER - BALLETROX - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 15000 KENNY - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 16000 WARREN PRESCOTT K8 - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 20000 UMANA - ZUMIX - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 20000 DORCHESTER - CREATIVITY LAB - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 22000 BURKE UNDERGROUND RAILWAY - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 15000 PERRY K8 - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 8000 TECHBOSTON - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 16000 ELLIS - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 8000 PJ KENNEDY - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS CENTER FOR COLLABORATIVE EDUCATION 33 HARRISON AVENUE 6TH FLOOR BOSTON MA 02111 043241676 10000 HARBOR - VSA - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS FENWAY HIGH SCHOOL FUND 174 IPSWICH STREET BOSTON MA 02215 046719813 15000 EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 16000 BRADLEY - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 22000 BURKE - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 21000 ELLIS - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS HUNTINGTON THEATER COMPANY 264 HUNTINGTON AVENUE BOSTON MA 02115 222659560 5000 FREDERICK - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS HUNTINGTON THEATER COMPANY 264 HUNTINGTON AVENUE BOSTON MA 02115 222659560 25000 AUGUST WILSON - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS CITY STAGE CO 539 TREMONT STREET BOSTON MA 02116 510147180 30000 EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 21000 BOSTON GREEN ACADEMY - EXPAND ARTS EDUCATION FOR SCHOOL CHILDREN IN BOSTON PUBLIC SCHOOLS BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 50000 BPS 10 BOYS INITIATIVE BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 95000 8TH GRADE ALGEBRA EXPANSION INITIATIVE UNLOCKING POTENTIAL INC 90 CANAL STREET SUITE 610 BOSTON MA 02114 272194956 60000 SUPPORT TO LAUNCH UP ACADEMY CHARTER SCHOOL BERKLEE COLLEGE OF MUSIC 1140 BOYLSTON STREET BOSTON MA 02115 042300472 60000 INCREASING STUDENTS' EXPOSURE TO QUALITY MUSIC INSTRUCTION BOSTON DEBATE LEAGUE 31 STATE STREET 10TH FLOOR BOSTON MA 02109 593789722 100000 EVIDENCE BASED ARGUMENTATION CENTER FOR COLLABORATIVE EDUCATION 33 HARRISON AVENUE 6TH FLOOR BOSTON MA 02111 043241676 50000 BOSTON INTERNATIONAL & NEWCOMERS ACADEMY DOTWELL 1452 DORCHESTER AVENUE 4TH FLOOR DORCHESTER MA 02122 043433538 40000 FIX THE FOUNDATION: TARGETED LITERACY INTERVENTION FOR FIRST GRADERS THE MATCH SCHOOL FOUNDATION 215 FOREST HILLS STREET JAMAICA PLAIN MA 02130 043476160 100000 SUPPORT TO LAUNCH MATCH COMMUNITY DAY CHARTER SCHOOL SOCIEDAD LATINA 1530 TREMONT STREET ROXBURY MA 02120 042678255 100000 CULTURAL PROFICIENCY WITH TOBIN K-8 CENTER FOR COLLABORATIVE EDUCATION 33 HARRISON AVENUE 6TH FLOOR BOSTON MA 02111 043241676 10000 URBAN SCIENCE ACADEMY - 2011 SCHOOL ON THE MOVE PRIZE FINALIST BOSTON EDUCATIONAL DEVELOPMENT FOUNDATION 26 COURT STREET 5TH FLOOR BOSTON MA 02108 222514422 10000 NEW MISSION HIGH SCHOOL - 2011 SCHOOL ON THE MOVE PRIZE FINALIST 45 0 EDVESTORS MONITORS THE USE OF TWO-YEAR GRANT FUNDS FOR ALL GRANTEES IN THE EDVESTORS PORTFOLIO BY CONDUCTING A PHONE CALL CHECK-IN EACH NOVEMBER AND REQUESTING GRANTEES TO SUBMIT PROGRESS REPORTS EACH JANUARY, 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 INTIATIVE, A PRELIMINARY REPORT IS DUE IN OCTOBER AND A FINAL REPORT DUE IN JUNE. X 0 0 0 0 0 0 0 0 0 LAURA PERILLE 125619 0 15000 0 0 0 0 0 10484 0 151103 0 0 0 PART I, LINE 3 THE PROCESS FOR DETERMINING COMPENSATION FOR TOP ORGANIZATION POSITIONS, INCLUDING EXECUTIVE DIRECTOR AND OTHER KEY EMPLOYEES IS AS FOLLOWS: (A) ANNUAL PERFORMANCE AND SALARY/COMPENSATION REVIEW BY EXECUTIVE DIRECTOR FOR TOP MANAGEMENT AND KEY EMPLOYEES AND BY THE GOVERNING BOARD EXECUTIVE COMMITTEE FOR EXECUTIVE DIRECTOR, 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 EXECUTIVE DIRECTOR AND OTHER KEY EMPLOYEES IS AS FOLLOWS: (A) ANNUAL PERFORMANCE AND SALARY/COMPENSATION REVIEW BY EXECUTIVE DIRECTOR FOR TOP MANAGEMENT AND KEY EMPLOYEES AND BY THE GOVERNING BOARD EXECUTIVE COMMITTEE FOR EXECUTIVE DIRECTOR, 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.