International Spanish Language Academy

“The form 990 is prepared by an independent accounting firm. Once the form is completed, it is given to the Executive Director and the Finance Committee for review before it is signed and filed. The entire board does not review the 990 before its filed.”

“Board members sign a conflict of interest statement annually. The Board also reviews the conflict of interest policy annually and makes changes as necessary.”

“The School Board does an annual evaluation of the Executive Director and determines the compensation. The Executive Director evaluates employees and makes recommendations to the School Board. The Board bases its compensation on the knowledge of the budget.”

“The organization makes it governing documents available online. The conflict of interest policy and financial statements are available to the public upon request.”

“Two members of the Board are teachers at the Academy. Minnesota State Statute 124D.10 subd. 4(g) requires the Board to have at least one employed or contracted teacher.”

“Staff Development Conference : Program service expenses 95. Management and general expenses 0. Fundraising expenses 0. Total expenses 95. Consulting Fees/Fees for Service : Program service expenses 162,301. Management and general expenses 0. Fundraising expenses 0. Total expenses 162,301. Nursing Services : Program service expenses 22,104. Management and general expenses 0. Fundraising expenses 0. Total expenses 22,104. Field Trip Cost : Program service expenses 18,688. Management and general expenses 0. Fundraising expenses 0. Total expenses 18,688. Special Ed Contracted Services : Program service expenses 110,027. Management and general expenses 0. Fundraising expenses 0. Total expenses 110,027. State Contracted Services : Program service expenses 35,317. Management and general expenses 0. Fundraising expenses 0. Total expenses 35,317. Federal Contracted Services : Program service expenses 23,970. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,970. Social Worker Contracted Serv : Program service expenses 203. Management and general expenses 0. Fundraising expenses 0. Total expenses 203. Food Service Fees : Program service expenses -156. Management and general expenses 0. Fundraising expenses 0. Total expenses -156. Fees for Services : Program service expenses 600. Management and general expenses 0. Fundraising expenses 0. Total expenses 600. Board Training : Program service expenses 0. Management and general expenses 4,580. Fundraising expenses 0. Total expenses 4,580. Business Services, Authorizer, lega : Program service expenses 0. Management and general expenses 49,623. Fundraising expenses 0. Total expenses 49,623.”

“The Academy's Board assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant annually. This process has not changed from the prior year.”

“The Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. The Academy's approved Authorizer during the fiscal year 2018 was Innovative Quality Schools.”

“Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no transactions noted.”