2026-07-06T13:52:19-05:00 2025-08-31 872525370 CITRIN COOPERMAN ADVISORS LLC 1800 JFK BLVD 20TH FLOOR PHILADELPHIA PA 19103 990 2024-09-01 521801849 FOUNDATIONS INC FOUN 8565331600 701 EAST GATE DRIVE 300 MOUNT LAUREL NJ 08054 MICHAEL PIAZZA-SUGARMAN CHIEF FINANCIAL OFFICER 8565331600 2026-07-06 1 1 BRETT DUBIN P00740974 2155454800 2026-07-06 2024 2025-03-06 01:10:19Z MICHAEL PIAZZA-SUGARMAN 701 EAST GATE DRIVE 300 MOUNT LAUREL NJ 08054 12982574 0 1 X WWW.FOUNDATIONSINC.ORG X 1992 DE FOUNDATIONS IS DEDICATED TO IMPROVING THE QUALITY OF EDUCATION FOR OUR NATION'S MOST VULNERABLE CHILDREN BY STRENGTHENING THE SKILLS OF EDUCATORS THROUGH PROFESSIONAL LEARNING. FOUNDATIONS, INC. IS A NOT-FOR-PROFIT EDUCATIONAL SERVICE ORGANIZATION COMMITTED TO BUILDING THE QUALITY OF EDUCATIONAL OPPORTUNITIES FOR CHILDREN, YOUTH, AND FAMILIES IN UNDERSERVED COMMUNITIES THROUGH WORK WITH PUBLIC CHARTER SCHOOLS, SCHOOL DISTRICTS, EDUCATION AND COMMUNITY-BASED ORGANIZATIONS, AND AFTERSCHOOL PROGRAM PROVIDERS. THE ORGANIZATION FOCUSES ON CAPACITY-BUILDING THROUGH PROFESSIONAL LEARNING, TECHNICAL ASSISTANCE, PROGRAM DEVELOPMENT, SUPPORTING TOOLS, AND SERVICES. THE ORGANIZATION RECEIVES ITS SUPPORT FROM VARIOUS SOURCES INCLUDING FOUNDATION GRANT PROGRAMS, GOVERNMENT GRANTS, PERFORMANCE CONTRACTS, PRODUCT SALES, CONTRIBUTIONS FROM FOUNDATIONS, AND CONFERENCE FEES. 9 8 381 9 0 0 3265677 3809793 6865758 7763595 31467 49202 30506 29995 10193408 11652585 0 0 0 0 6911991 7582469 0 0 0 2893520 2995489 9805511 10577958 387897 1074627 6074197 6988060 1054178 815975 5020019 6172085 X FOUNDATIONS IS DEDICATED TO IMPROVING THE QUALITY OF EDUCATION FOR OUR NATION'S MOST VULNERABLE CHILDREN BY STRENGTHENING THE SKILLS OF EDUCATORS THROUGH PROFESSIONAL LEARNING. FOUNDATIONS, INC. IS A NOT-FOR-PROFIT EDUCATIONAL SERVICE ORGANIZATION COMMITTED TO BUILDING THE QUALITY OF EDUCATIONAL OPPORTUNITIES FOR CHILDREN, YOUTH, AND FAMILIES IN UNDERSERVED COMMUNITIES THROUGH WORK WITH PUBLIC CHARTER SCHOOLS, SCHOOL DISTRICTS, EDUCATION AND COMMUNITY-BASED ORGANIZATIONS, AND AFTERSCHOOL PROGRAM PROVIDERS. THE ORGANIZATION FOCUSES ON CAPACITY-BUILDING THROUGH PROFESSIONAL LEARNING, TECHNICAL ASSISTANCE, PROGRAM DEVELOPMENT, SUPPORTING TOOLS, AND SERVICES. THE ORGANIZATION RECEIVES ITS SUPPORT FROM VARIOUS SOURCES INCLUDING FOUNDATION GRANT PROGRAMS, GOVERNMENT GRANTS, PERFORMANCE CONTRACTS, PRODUCT SALES, CONTRIBUTIONS FROM FOUNDATIONS, AND CONFERENCE FEES. 0 0 3199717 3524852 SCHOOL SERVICES - THE OFFICE OF EDUCATION AND INNOVATION PROVIDED SCHOOL-WIDE PROFESSIONAL LEARNING SYSTEMS, LEADERSHIP AND INSTRUCTIONAL COACHING, CURRICULUM REVIEW AND REDESIGN, INTERIM SCHOOL LEADERSHIP AND SPECIAL EDUCATION PROGRAM SUPPORT TO 28 CHARTER AND DISTRICT SCHOOLS, SERVING OVER 20,000 STUDENTS. IN 2025, WE PROVIDED VIRTUAL AS WELL AS IN-PERSON PROFESSIONAL LEARNING AND COACHING SESSIONS TO THOUSANDS OF EDUCATORS, PRIMARILY IN THE MID-ATLANTIC REGION OF THE COUNTRY. WE ALSO EXPANDED HIGHLY EFFECTIVE PROFESSIONAL LEARNING SESSIONS FOR PARAEDUCATORS IN AN EFFORT TO SUPPORT THE NEEDS OF SPECIAL EDUCATION STUDENTS. OUR TEAM DESIGNED AND IMPLEMENTED NEW TEACHER INDUCTIONS PROGRAMS AS WELL AS TEACHER SUPERVISION AND EVALUATION TOOLS AND PROCESSES. WE SUPPORTED NUMEROUS CHARTER SCHOOLS AS THEY WORKED TO ACHIEVE CHARTER RENEWAL STATUS. THE OFFICE OF EDUCATION AND INNOVATION TEAM SUPPORTED THE DESIGN AND DEVELOPMENT OF INSTRUCTIONAL PROGRAMS FOR NUMEROUS GRANT PROPOSALS AND IMPLEMENTED AND EXPANDED THE "ACADEMY AT PENN" PROGRAM, A COLLEGE AND CAREER READINESS MODEL SERVING ONE HUNDRED FIRST GENERATION COLLEGE- BOUND STUDENTS IN PHILADELPHIA. 2971530 2745235 THE OFFICE OF PROFESSIONAL LEARNING - THE OFFICE OF PROFESSIONAL LEARNING PROVIDED IN-PERSON AND VIRTUAL TRAININGS TO AN ESTIMATED 2,700+ PARTICIPANTS FROM 30 STATES ACROSS THE NATION, THE DISTRICT OF COLUMBIA, U.S. VIRGIN ISLANDS, AND PARTS OF THE WORLD. THIS YEAR, THE OFFICE HAS DISTRIBUTED RESOURCES TO 1090+ AFTERSCHOOL PRACTITIONERS NATIONWIDE. ADDITIONALLY, THE CENTER OPERATED 8 AFTERSCHOOL PROGRAMS INVOLVING 1,400 K THROUGH 8TH GRADE STUDENTS IN PHILADELPHIA SCHOOLS. 1346409 THE CAMPAIGN FOR GRADE-LEVEL READING - FOUNDATIONS IS THE FISCAL SPONSOR TO THE CAMPAIGN FOR GRADE LEVEL READING (CGLR). THE MISSION OF CGLR IS TO DISRUPT THE GENERATIONAL CYCLE OF POVERTY BY IMPROVING THE PROSPECTS FOR EARLY SCHOOL SUCCESS FOR CHILDREN GROWING UP IN ECONOMICALLY CHALLENGED, FRAGILE AND OTHERWISE MARGINALIZED FAMILIES. CGLR ADVANCES THIS MISSION BY FOCUSING ON TWO CRITICAL INFLECTION POINTS: GRADE-LEVEL READING BY THE END OF THIRD GRADE AND, MORE RECENTLY, ON-TRACK DEVELOPMENT BY THE END OF KINDERGARTEN. RESEARCH, PRACTICE AND COMMON SENSE CONFIRM BOTH AS CRITICAL TO THE EARLY SCHOOL SUCCESS THAT PREDICTS LATER SCHOOL ACHIEVEMENT AND HIGH SCHOOL GRADUATION, THE FIRST RUNG OF THE "SUCCESS SEQUENCE" LEADING TO EMPLOYMENT AND EARNINGS. 2251195 1493508 OTHER ACTIVITIES: CONFERENCES, COMPENSATORY EDUCATION & INNOVATION AND DEVELOPMENT. 2251195 1493508 9768851 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 48 0 1 381 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ PA FL X FOUNDATIONS INC 8565331600 701 EAST GATE DRIVE SUITE 300 MOUNT LAUREL NJ 08054 LINDA ROMANO BOARD CHAIR 1.00 X X 0 0 0 KC BURTON SECRETARY/TREASURER 1.00 X X 0 0 0 ROBERT S SCHWARTZ CHAIR EMERITUS 1.00 X 0 0 0 CHARLES ENGLISH DIRECTOR 1.00 X 0 0 0 JENNIFER FLEISHER DIRECTOR 1.00 X 0 0 0 MICHAEL GADSBY DIRECTOR 1.00 X 0 0 0 JOSE GOMEZ DIRECTOR 1.00 X 0 0 0 DIANE MELLEY DIRECTOR 1.00 X 0 0 0 JANET SAMUELS DIRECTOR 1.00 X 0 0 0 RHONDA H LAUER PRESIDENT AND CEO 40.00 X 300681 0 14731 MICHAEL PIAZZA-SUGARMAN CHIEF FINANCIAL OFFICER 40.00 X 187727 0 5388 SYLVIA LYLES CHIEF PARTNERSHIP & GRANTS OFFICER 40.00 X 161285 0 0 MARYELLEN GORODETZER CHIEF EDUCATION & INNOVATION OFFICER 40.00 X 156462 0 21227 RONALD GOLDSTEIN CHIEF OF OPERATIONS 40.00 X 120163 0 28857 DAVID MCCONNELL EXECUTIVE DIRECTOR, SPECIAL PROJECTS 40.00 X 143485 0 9687 CASEY JONES EXEC. DIR. MARKETING & COMMUNICATIONS 40.00 X 111376 0 32964 SHEILA WALLIN PROJECT SPECIALIST 40.00 X 105019 0 0 AMY WILLIAMS PROJECT SPECIALIST 40.00 X 159250 0 0 1445448 0 112854 9 0 1 0 SARAH TORIAN 56 LEIGH AVENUE PRINCETON NJ 08542 EDUCATION CONSULTING SERVICES 194616 STRATEGIC LEADERSHIP PARTNERS IN EDU L ONE TOWER HILL ROAD BOW NH 03304 EDUCATION CONSULTING SERVICES 188800 2 200000 1067470 2542323 534849 3809793 SERVICE FEES 611710 7075838 7075838 CONFERENCE FEES 611710 687757 687757 7763595 26 26 1379165 1329989 49176 49176 49176 29995 29995 29995 11652585 7763595 0 79197 X 910029 687731 222298 5792758 5578872 213886 45063 35843 9220 263834 242768 21066 570785 546435 24350 11093 2579 8514 51274 11920 39354 1338738 1338478 260 294864 227306 67558 370486 301086 69400 159154 129102 30052 231853 226483 5370 225186 202793 22393 167468 143958 23510 BAD DEBT 92322 57074 35248 BUSINESS EXPENSES 25953 16044 9909 27098 20379 6719 10577958 9768851 809107 0 1832577 2502026 21385 33600 579554 588857 2141102 1689556 28204 44278 182542 182542 0 0 1106670 1871096 364705 258647 6074197 6988060 448928 456792 228175 88659 377075 270524 1054178 815975 X 4997879 5654056 22140 518029 5020019 6172085 6074197 6988060 1074627 77439 0 X 0 1 X 1 1 1 X 4468627 4382393 4615357 3265677 3809793 20541847 4468627 4382393 4615357 3265677 3809793 20541847 6144663 14397184 31329 17356 3258 2562 26 54531 14998 30506 29995 75499 20671877 28766381 0.69650 0.72460 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2022 AMOUNT: $ 14,998. 2023 AMOUNT: $ 30,506. 2024 AMOUNT: $ 29,995. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 182542 182542 0 0 OPERATING LEASE LIABILITY 269301 CUSTOMER DEPOSITS 1223 270524 X 11730024 77439 77439 11652585 0 11652585 10577958 0 10577958 0 10577958 PART X, LINE 2: THE ORGANIZATION FOLLOWS ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FASB ASC 740, INCOME TAXES. USING THAT GUIDANCE, UNCERTAIN TAX POSITIONS NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITIONS WILL NOT BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. AS OF AUGUST 31, 2025 AND 2024, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFIED FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, THE ORGANIZATION HAD NO INTEREST OR PENALTIES RELATED TO INCOME TAXES. THE ORGANIZATION FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. X X X 0 1 0 0 0 0 0 1 0 RHONDA H LAUER PRESIDENT AND CEO 207981 0 69700 0 23000 0 6278 0 8453 0 315412 0 0 0 MICHAEL PIAZZA-SUGARMAN CHIEF FINANCIAL OFFICER 179327 0 7200 0 1200 0 5388 0 0 0 193115 0 0 0 MARYELLEN GORODETZER CHIEF EDUCATION & INNOVATION OFFICER 149262 0 7200 0 0 0 0 0 21227 0 177689 0 0 0 SYLVIA LYLES CHIEF PARTNERSHIP & GRANTS OFFICER 152885 0 7200 0 1200 0 0 0 0 0 161285 0 0 0 AMY WILLIAMS PROJECT SPECIALIST 159250 0 0 0 0 0 0 0 0 0 159250 0 0 0 DAVID MCCONNELL EXECUTIVE DIRECTOR, SPECIAL PROJECTS 137785 0 5700 0 0 0 692 0 8995 0 153172 0 0 0 PART I, LINE 4B RHONDA H. LAUER PARTICIPATED IN 457B PLAN DURING THE CURRENT TAX YEAR. PART I, LINE 7 THE MOST SUBSTANTIAL (RHONDA H. LAUER'S) IS DETERMINED BASED ON HER CONTRACT AND BOARD APPROVAL. EVERYONE ELSE IS DETERMINED THROUGH PERFORMANCE APPRAISALS. X 2458 534849 CLOSING STOCK PRICE 0 0 0 0 PART I, COLUMN (B): THE AMOUNTS IN COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B THE FORM IS PREPARED BY THE OUTSIDE AUDIT FIRM, INTERNALLY REVIEWED BY THE FINANCE MANAGER, CHIEF FINANCIAL OFFICER, AND CEO, AND SUBSEQUENTLY DISTRIBUTED TO THE BOARD OF DIRECTORS FOR REVIEW AT A BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C PURPOSE: THIS POLICY ESTABLISHES PROCEDURES FOR IDENTIFYING, DISCLOSING, AND MANAGING ACTUAL OR POTENTIAL CONFLICTS OF INTEREST TO ENSURE BOARD MEMBERS AND MANAGEMENT TEAM MEMBERS ACT IN THE ORGANIZATION'S BEST INTERESTS. THIS POLICY PROTECTS FOUNDATIONS FROM RISK, ENSURES LEGAL COMPLIANCE, AND PROMOTES ETHICAL GOVERNANCE BY REQUIRING AFFECTED MEMBERS TO RECUSE THEMSELVES FROM DISCUSSIONS AND VOTES ON MATTERS WHERE THEIR PERSONAL INFLUENCE COULD INFLUENCE THEIR JUDGMENT. POLICY: APPLICATION OF POLICY: THE CONFLICT-OF-INTEREST POLICY IS INTENDED TO SUPPLEMENT, BUT NOT REPLACE, FEDERAL AND STATE LAWS GOVERNING CONFLICTS OF INTEREST APPLICABLE TO NONPROFIT CORPORATIONS. IT APPLIES TO THE BOARD OF DIRECTORS (COLLECTIVELY "BOARD AND INDIVIDUALLY "DIRECTORS"), BOARD COMMITTEES, OFFICERS, AND STAFF WITH SIGNIFICANT DECISION-MAKING AUTHORITY. PERSONS COVERED UNDER THIS POLICY, AS WELL AS THEIR RELATIVES AND BUSINESS ASSOCIATES, ARE HEREINAFTER REFERRED TO AS "INTERESTED PARTIES." CONFLICT OF INTEREST: A CONFLICT OF INTEREST MAY EXIST WHEN THE INTERESTS OR CONCERNS OF AN INTERESTED PARTY MAY BE SEEN AS COMPETING WITH THE INTERESTS OR CONCERNS OF FOUNDATIONS. THERE ARE A VARIETY OF SITUATIONS THAT RAISE POTENTIAL CONFLICTS OF INTEREST INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: FINANCIAL INTERESTS A CONFLICT MAY EXIST WHERE AN INTERESTED PARTY DIRECTLY OR INDIRECTLY BENEFITS OR PROFITS AS A RESULT OR AN ACTION, POLICY, OR TRANSACTION MADE BY FOUNDATIONS (REFERRED TO AS A "FINANCIAL INTEREST"). NONEXCLUSIVE EXAMPLES INCLUDE SITUATIONS WHERE: FOUNDATIONS CONTRACTS TO PURCHASE OR LEASE GOODS, SERVICES, OR PROPERTIES FROM AN INTERESTED PARTY. FOUNDATIONS OFFERS EMPLOYMENT TO AN INTERESTED PARTY OTHER THAN A PERSON WHO IS ALREADY EMPLOYED BY FOUNDATIONS. AN INTERESTED PARTY IS PROVIDED WITH A GIFT, GRATUITY, OR FAVOR OF A SUBSTANTIAL NATURE FROM A PERSON OR ENTITY THAT DOES BUSINESS OR SEEKS TO DO BUSINESS WITH FOUNDATIONS. AN INTERESTED PARTY IS GRATUITOUSLY PROVIDED USE OF THE FACILITIES, PROPERTY, OR SERVICES OF FOUNDATIONS. FOUNDATIONS ADOPTS A POLICY THAT FINANCIALLY BENEFITS AN INTERESTED PARTY. A FINANCIAL INTEREST IS NOT NECESSARILY A CONFLICT OF INTEREST. A CONFLICT OF INTEREST EXISTS ONLY WHEN THE BOARD DECIDES AN INTERESTED PARTY WITH A FINANCIAL INTEREST HAS A CONFLICT OF INTEREST. OTHER INTERESTS A CONFLICT MAY ALSO EXIST WHERE AN INTERESTED PARTY OBTAINS A NON-FINANCIAL BENEFIT OR ADVANTAGE THAT HE OR SHE WOULD NOT HAVE OBTAINED ABSENT HIS OR HER RELATIONSHIP WITH FOUNDATIONS. NON-EXCLUSIVE EXAMPLES INCLUDE SITUATIONS WHERE: AN INTERESTED PARTY SEEKS TO OBTAIN PREFERENTIAL TREATMENT BY FOUNDATIONS OR RECOGNITION FOR HIMSELF OR HERSELF OR ANOTHER INTERESTED PARTY. AN INTERESTED PARTY SEEKS TO MAKE USE OF CONFIDENTIAL INFORMATION OBTAINED FROM FOUNDATIONS FOR HIS OR HER BENEFIT (NOT NECESSARILY FINANCIAL) OR THE BENEFIT OF ANOTHER INTERESTED PARTY. AN INTERESTED PARTY SEEKS TO TAKE ADVANTAGE OF AN OPPORTUNITY OR ENABLES ANOTHER INTERESTED PARTY OR OTHER ORGANIZATION TO TAKE ADVANTAGE OF AN OPPORTUNITY THAT HE OR SHE HAS REASON TO BELIEVE WOULD BE OF INTEREST TO FOUNDATIONS. FOUNDATIONS ADOPTS A POLICY THAT PROVIDES A SIGNIFICANT NON-FINANCIAL BENEFIT TO AN INTERESTED PARTY. A CONFLICT OF INTEREST EXISTS ONLY WHEN THE BOARD DECIDES AN INTERESTED PARTY WITH A NON-FINANCIAL INTEREST HAS A CONFLICT OF INTEREST. DISCLOSURE OF POTENTIAL CONFLICTS OF INTEREST: AN INTERESTED PARTY IS UNDER A CONTINUING OBLIGATION TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST AS SOON AS IT IS KNOWN OR REASONABLY SHOULD BE KNOWN. AN INTERESTED PARTY SHALL COMPLETE THE CONFLICT-OF-INTEREST DISCLOSURE QUESTIONNAIRE (APPENDIX A) TO FULLY AND COMPLETELY DISCLOSE THE MATERIAL FACTS ABOUT ANY POTENTIAL CONFLICT OF INTEREST. THE DISCLOSURE STATEMENT AND CONFLICT OF INTEREST AFFIRMATION OF COMPLIANCE (APPENDIX B) SHALL BE SUBMITTED UPON HIS OR HER ASSOCIATION WITH FOUNDATIONS AND SHALL BE REVIEWED ANNUALLY THEREAFTER. AN ADDITIONAL DISCLOSURE STATEMENT SHALL BE FILED WHENEVER A POTENTIAL CONFLICT ARISES. DISCLOSURE STATEMENTS FOR THE BOARD OF DIRECTORS, THE CEO, OTHER OFFICERS, AND STAFF WITH SIGNIFICANT DECISION-MAKING AUTHORITY SHALL BE KEPT ON FILE WITH THE RECORDS OF FOUNDATIONS AND MADE AVAILABLE FOR REVIEW AS NECESSARY. PROCEDURES FOR REVIEW OF POTENTIAL CONFLICTS: WHENEVER THERE IS REASON TO BELIEVE THAT A POTENTIAL CONFLICT OF INTEREST EXISTS BETWEEN FOUNDATIONS AND A DIRECTOR, THE CEO OR ONE OR MORE OTHER OFFICERS OF THE BOARD SHALL DETERMINE THE APPROPRIATE RESPONSE. THIS SHALL INCLUDE, BUT NOT NECESSARILY BE LIMITED TO, INVOKING THE PROCEDURES DESCRIBED BELOW WITH RESPECT TO A SPECIFIC PROPOSED ACTION, POLICY, OR TRANSACTION. THE DESIGNATED REVIEWING OFFICIAL HAS A RESPONSIBILITY TO BRING A POTENTIAL CONFLICT OF INTEREST TO THE ATTENTION OF THE BOARD TO BE ACTED ON AS SOON AS POSSIBLE THEREAFTER. WHERE THE POTENTIAL CONFLICT INVOLVES AN EMPLOYEE OF FOUNDATIONS OTHER THAN THE CEO, THE CEO SHALL BE RESPONSIBLE FOR REVIEWING THE MATTER AND MAY TAKE APPROPRIATE ACTION AS NECESSARY TO PROTECT THE INTERESTS OF FOUNDATIONS. THE CEO SHALL REPORT TO THE CHAIRPERSON OF THE BOARD THE RESULTS OF ANY REVIEW AND THE ACTION TAKEN. THE CHAIRPERSON SHALL DETERMINE WHETHER ANY FURTHER BOARD REVIEW OR ACTION IS REQUIRED. PROCEDURES FOR ADDRESSING CONFLICTS OF INTEREST: WHERE A POTENTIAL CONFLICT EXISTS BETWEEN THE INTERESTS OF FOUNDATIONS AND AN INTERESTED PARTY CONCERNING A SPECIFIC PROPOSED ACTION, POLICY, OR TRANSACTION, THE BOARD SHALL CONSIDER THE MATTER. FOUNDATIONS SHALL REFRAIN FROM ACTING UNTIL THE PROPOSED ACTION, POLICY, OR TRANSACTION HAS BEEN APPROVED BY THE DISINTERESTED DIRECTORS. THE FOLLOWING PROCEDURES SHALL APPLY: AN INTERESTED PARTY WHO HAS A POTENTIAL CONFLICT OF INTEREST CONCERNING A PROPOSED ACTION, POLICY, OR TRANSACTION OF THE CORPORATION SHALL NOT PARTICIPATE IN ANY WAY, OR BE PRESENT DURING, THE DELIBERATIONS AND DECISION-MAKING VOTE OF THE BOARD WITH RESPECT TO SUCH ACTION, POLICY, OR TRANSACTION. HOWEVER, THE INTERESTED PARTY SHALL HAVE AN OPPORTUNITY TO PROVIDE FACTUAL INFORMATION ABOUT THE PROPOSED CONFLICT OR ACTION, POLICY, OR TRANSACTION. IN ADDITION TO OTHER ACTIONS AND DUTIES, THE BOARD MAY REQUEST THAT THE INTERESTED PARTY BE AVAILABLE TO ANSWER QUESTIONS. THE DISINTERESTED DIRECTORS MAY APPROVE THE PROPOSED ACTION, POLICY, OR TRANSACTION UPON FINDING THAT IT IS IN THE BEST INTEREST OF FOUNDATIONS. THE BOARD SHALL CONSIDER WHETHER THE TERMS OF THE PROPOSED ACTION, POLICY, OR TRANSACTION ARE FAIR AND REASONABLE TO FOUNDATIONS AND WHETHER IT WOULD BE POSSIBLE, WITH REASONABLE EFFORT, TO FIND A MORE ADVANTAGEOUS ARRANGEMENT WITH A NON-INTERESTED PARTY. APPROVAL BY THE DISINTERESTED DIRECTORS SHALL BE BY VOTE OF THE MAJORITY OF DISINTERESTED DIRECTORS. AN INTERESTED PARTY SHALL BE COUNTED FOR THE PURPOSE OF DETERMINING WHETHER A QUORUM IS PRESENT BUT SHALL NOT VOTE. APPROPRIATE DOCUMENTATION SHALL REFLECT THAT THE CONFLICT DISCLOSURE WAS MADE TO THE BOARD, THE BOARD'S DETERMINATION AS TO WHETHER A CONFLICT EXISTED, THE NAMES OF THOSE PRESENT DURING THE DISCUSSION AND VOTE, THE VOTE TAKEN, AND (WHERE APPLICABLE) THE ABSTENTION FROM VOTING AND PARTICIPATION BY THE INTERESTED PARTY. WHENEVER POSSIBLE, THE DOCUMENTATION SHOULD FRAME THE ACTION OF THE BOARD IN SUCH A WAY THAT IT PROVIDES GUIDANCE FOR CONSIDERATION OF FUTURE CONFLICT OF INTEREST SITUATIONS. COPIES OF ANY REPORTS, APPRAISALS, OR OTHER WRITTEN DATA ANALYZING THE CONFLICT OF INTEREST SHALL BE FILED WITH THE RECORDS OF FOUNDATIONS. THE MINUTES SHALL BE PREPARED BEFORE THE LATER OF THE NEXT MEETING OF THE BOARD OR SIXTY (60) DAYS AFTER THE FINAL ACTION IS TAKEN BY THE BOARD. THE BOARD SHALL REVIEW THE MINUTES WITHIN A REASONABLE PERIOD OF TIME AFTER THEIR PREPARATION. VIOLATIONS OF CONFLICT-OF-INTEREST POLICY : IF THE BOARD HAS REASON TO BELIEVE THAT AN INTERESTED PARTY HAS FAILED TO DISCLOSE A POTENTIAL CONFLICT OF INTEREST, IT SHALL INFORM THE PERSON OF THE BASIS OF SUCH BELIEF AND ALLOW THE PERSON AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF THE BOARD DECIDES THAT THE INTERESTED PARTY HAS IN FACT FAILED TO DISCLOSE A POSSIBLE CONFLICT OF INTEREST, THE BOARD SHALL TAKE SUCH DISCIPLINARY AND CORRECTIVE ACTION AS THE BOARD SHALL DETERMINE. SCOPE: THIS POLICY APPLIES TO ALL BOARD MEMBERS, THE CEO, AND STAFF MEMBERS WITH SIGNIFICANT DECISION-MAKING AUTHORITY. FORM 990, PART VI, SECTION B, LINE 15 SENIOR COMPENSATION CHANGES ARE REVIEWED AND DISCUSSED WITH THE BOARD ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR REVIEW IN OFFICE. FORM 990, PART IX, LINE 11G CONSULTANTS AND CONTRACT EXPENSES: PROGRAM SERVICE EXPENSES 1,338,478. MANAGEMENT AND GENERAL EXPENSES 260. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,338,738. THE SCHWARTZ CREED FOUNDATION 821 EAST GATE DRIVE MOORESTOWN NJ 08057 232267403 PROVIDE GRANTS TO NON-PROFIT ORGANIZATIONS NJ 501(C)(3) PRIVATE FOUNDATION N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0