Christ the King Preparatory School

“Article II - the bylaws have been amended to specifically outline the purpose of the school. Article III, Section 1 - Member was changed from the Vicar for education of the archdiocese of newark to the secretary for education of the archdiocese of newark. Article III, Section 5 - Members shall have the right to give prior approval or ratify certain actions of the board of trustees including real estate, by-laws, deviation from the capital or operating budget, and consolidation. Article V, section 1 - the minimum number of trustees changed from fifteen to twenty, the number of seats reserved for endorsing congregations changed to three, and the archbishop will appoint at least fifteen of the members. Article V, section 4 - the board of trustees has the power to make or alter any by-law or by-laws, or any other rule or regulation governing the board of trustees by a two-thirds vote, subject to member approval. Article V, Section 8 and Article VII - members will be considered eligible to vote if 'live electronically'. Article VI - The development and finance committee and the executive committee were established as standing committees. Non-voting consultants who are not trustees can be appointed to committees to assist them in fulfilling their responsibilities.”

“There shall be four (4) members of this corporation consisting of the following officials in the roman catholic archdiocese of newark and their respective successors in office: the archbishop of newark, the vicar general, moderator of the curia and chancellor of the archdiocese of newark, the secretary for education of the archdiocese of newark, and the vice-chancellor of the archdiocese of newark.”

“The members will appoint nine (9) individuals to the Board of Trustees, or if the Board of Trustees is comprised of more than fifteen (15) trustees, the members shall appoint half the Board's trustees plus two (2).”

“The members, by majority vote, shall have sole authority on behalf of the corporation to: (a) purchase, sell, lease or encumber real estate;(b) amend the certificate of Incorporation and Bylaws; (c) authorize the merger and dissolution of the corporation; (d) elect and remove members of the board of trustees; (e) elect the president, vice president, secretary and treasurer of the corporation; (f) approve contracts, purchases and acquisitions not within the approved budget of any fiscal year, the cost or value of which exceeds a specified dollar amount as provided in the bylaws; (g)receive no less frequently than annual reports from the president of the high school and the president of the corporation; and (h) schedule, hold and conduct meetings of the members. The members of the corporation shall have the exclusive authority to amend the certificate of incorporation and the members may remove the trustees, with or without cause.”

“The 990 is prepared by the auditing firm which is hired to do the annual audit. The 990 is prepared in conjunction with the School Administration and development office. The 990 is also reviewed by the CTK Prep Board Finance Committee. It is then submitted electronically to the full board for review and approval.”

“Christ the King Preparatory School currently has in place a conflict of interest policy which it annually monitors and enforces. The board currently mandates that all members of management and the governing body annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. The signed conflict of interest policy is submitted to the Business Manager who reviews the signed attestations for potential or actual conflicts. If a potential or actual conflict of interest exists, the Business Manager will notify member of management or the governing body about such conflict and investigate the conflict. The results of the investigation will be summarized and documented by the Business Manager and be reported to the governing body. If the Business Manager establishes that an actual conflict exists, the member of management or the governing body will be asked to recuse themselves.”

“The board of trustees of christ the king establishes compensation for administrative positions by using the guidelines for salaries in the MOAS budget guidelines established by the Cristo Rey Network, by the current guidelines and comparable positions of the Archdiocese of Newark as provided by the Office of the Superintendent of Schools of the Archdiocese of Newark, and by comparison with similar surrounding schools. Compensation for CTK Faculty is defined by the salary scale approved by the board of trustees. This salary scale is developed from the current school salary scale and comparable positions of the Archdiocese of Newark established by the Office of the Superintendent of Schools of the Archdiocese of Newark and by comparison with the salary scales at similar surrounding schools and schools within the Cristo Rey Network. Salaries for CTK staff and support personnel are defined by the wage guidelines established by similar positions for employees of the Archdiocese and other related professional employers. (e.g. secretaries, maintenance, drivers, NJSIAA). The process was last undertaken in 2016.”

“Christ the King Preparatory School makes its Forms 990 and 1023 as well as the financial statements, conflict of interest policy and other policies are available upon written request at 239 Woodside Avenue, Newark, NJ 07104 or by calling the organization directly at (973)483-0033.”

“Crist the king preparatory school pays a stipend for the president's services to the school. The president does not receive the stipend directly but rather it is paid to his religious order.”

“The organization has a Finance and Facilities committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.”