| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 7A | THE ORGANIZATION HAS A SINGLE MEMBER, THE PROGRESSIVE FUTURE EDUCATION NETWORK, WHICH HAS POWER TO APPOINT THE DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE SOLE MEMBER HAS TYPICAL RIGHTS TO APPROVE MAJOR CORPORATE TRANSACTIONS SUCH AS MERGER, DISSOLUTION, AND DISPOSITIONS OF SUBSTANTIALLY ALL ASSETS, AS WELL AS CHANGES TO ITS CERTIFICATE OF INCORPORATION AND CERTAIN BYLAW PROVISIONS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE DRAFT 990 IS SENT TO ALL BOARD MEMBERS PRIOR TO THE RETURN BEING FINALIZED. |
| FORM 990, PART VI, SECTION B, LINE 12C | TO MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY, THE ORGANIZATION REQUIRES ALL OFFICERS, DIRECTORS AND INDIVIDUALS WITH SUBSTANTIAL INFLUENCE OVER THE ORGANIZATION TO COMPLETE AN ANNUAL STATEMENT DISCLOSING TO THE BOARD ANY BUSINESS, CONTRACTUAL, OR FINANCIAL RELATIONSHIPS THE PERSON HAS WITH OTHER CORPORATIONS. IN ADDITION, SAID PERSONS HAVE AN ONGOING OBLIGATION TO DISCLOSE TO THE BOARD ANY FINANCIAL INTEREST, DIRECT OR INDIRECT, THAT THE PERSON WOULD GAIN FROM ANY PARTICULAR TRANSACTION, CONTRACT, OR POLICY UNDER CONSIDERATION BY THE ORGANIZATION. THE BOARD MUST ASSESS POTENTIAL CONFLICTS ON A CASE BY CASE BASIS. CONFLICTED PERSONS MUST ABSTAIN FROM THE DELIBERATION OF THE TRANSACTION, AND CORPORATE RECORDS BE MAINTAINED. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE INDEPENDENT COMPENSATION COMMITTEE WILL ESTABLISH ACCEPTABLE COMPENSATION PACKAGES AFTER REVIEWING AT LEAST ONE OF THE FOLLOWING: 1) INFORMATION ABOUT COMPENSATION PAID BY SIMILARLY SITUATED TAXEXEMPT ORGANIZATIONS FOR SIMILAR SERVICES 2) CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS 3) ACTUAL WRITTEN OFFERS FROM SIMILARLY SITUATED ORGANIZATIONS. THE COMPENSATION COMMITTEE MAINTAINS CONTEMPORANEOUS WRITTEN DOCUMENTATION OF THE DECISION MAKING PROCESS. |
| FORM 990, PART VI, SECTION C, LINE 19 | NO DOCUMENTS AVAILABLE TO THE PUBLIC EXCEPT FOR THOSE THAT WERE INCLUDED WITH THE ORGANIZATION'S FORM 1024 APPLICATION FOR EXEMPT STATUS, WHICH ARE MADE AVAILABLE UPON REQUEST AS INDICATED IN LINE 18. |
| FORM 990, PART VII, SECTION A, LINE 1A | THE ORGANIZATION ACTS AS COMMON PAYMASTER FOR OTHER ORGANIZATIONS. THE AMOUNT REPORTED IS THE FULL PAY. THE AMOUNT ATTRIBUTABLE TO THE FILING ORGANIZATION IS PETER MURRAY SALARY $97,621 BENEFITS $2,662, LEA MADRY SALARY $89,532 BENEFITS $209. |
| FORM 990, PART IX, LINE 11G | CONSULTING/CONTRACTOR SERVICES: PROGRAM SERVICE EXPENSES 5,090,160. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,090,160. DUES: PROGRAM SERVICE EXPENSES 63,250. MANAGEMENT AND GENERAL EXPENSES 11,522. FUNDRAISING EXPENSES 3,319. TOTAL EXPENSES 78,091. |
| FORM 990, PART IX, LINE 11B | ACCELERATE ACTION, INC. ENTERED INTO A COURT-APPROVED SETTLEMENT WITH THE FTX DEBTORS RESOLVING DISPUTES RELATED TO A TRANSFER RECEIVED ON JULY 12, 2022. UNDER THE SETTLEMENT, ACCELERATE ACTION PAID $135,000 TO THE FTX DEBTORS IN FULL SATISFACTION OF THEIR CLAIMS, WITH NO ADMISSION OF LIABILITY BY ANY PARTY, AND THE PARTIES PROVIDED MUTUAL RELEASES UPON PAYMENT. THIS PAYMENT IS INCLUDED ON PART IX, LINE 11B. |
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