Atrium School Inc.

“The school does not have any committees who have the authority to act on behalf of the board of trustees.”

“The board of trustees reviews a copy of the form 990 prepared by the school's independent accountants. Any resulting comments are incorporated into the form 990 by the independent accountants and a final copy of the form 990 is provided to the board of trustees prior to its filing with the irs.”

“Each interested person must sign an annual statement which acknowledges that: they have received a copy of the conflict of interest policy; they understand it; and they will comply with the policy. Additionally they must state whether or not they have a potential conflict of interest, and list any such potential conflicts of interest. Potential conflicts of interest that arise after the annual statement has been submitted will be disclosed immediately.”

“The board of trustees determines the salary of the head of school. A sub-committee of the finance committee and the board of trustees compiles comparative data of other schools directors' salaries to support this process.”

“The organization's audited financial statements are available on certain public and regulatory agency websites and upon request. The organization's governing documents and its conflict of interest policy are available upon request.”

“Loss on termination of lease -2,153,329.”

“In march 2016, the school purchased its campus facility in watertown, massachusetts for $4,800,000. This property had been serving as the school's campus facility since september 2005 and was subject to a long-term lease with an expiration date of august 31, 2025. Prior to the purchase, the school had made significant leasehold improvements to the property; approximately $3,400,000 in 2006-2007 and $857,000 in 2014. The combined historical cost of all leasehold improvements totaled $4,495,540 at the time of the building purchase in march 2016. Accumulated depreciation on the leasehold improvements as of march 2016 totaled $1,706,669, resulting in a net book value of leasehold improvements at the time of purchase of $2,788,871. The purchase price was considered to be at the property's fair market value without consideration given to the prior improvements made. As a result, the existing improvements are considered to be impaired and were written off in connection with the building purchase. In addition to the leasehold improvements, the school had recorded two liabilities in connection with the lease agreement: deferred rent totaling $526,870, and accrued real estate taxes totaling $108,672. The total loss on termination of property lease is calculated as follows: net book value at time of purchase $2,788,871 less: deferred rent ($526,870) less: accrued real estate taxes ($108,672) total loss on termination of property lease $2,153,329”