The Hagedorn Little Village School

“The form 990 is first completed by the director of finance and by the accountants of baker tilly advisory group, lp. It is then reviewed by the executive director. A copy of the form 990 is distributed to the board and then it is filed with the irs.”

“Any board member, officer or director who may be involved in any school business transaction in which there is a possible conflict of interest will promptly notify the chairperson of the board. The board member, officer or director will refrain from voting on any such transaction, participating in deliberations concerning it, or using personal influence in any way in the matter. The board member's, officer's or director's presence may not be counted in determining the quorum for any vote with respect to the school business transaction in which he or she has a possible conflict of interest. Furthermore, the board member, officer or director, or the chairperson of the board in the officer's or director's absence, will disclose a possible conflict of interest to the other members of the board before any vote on the school business transaction and such disclosure will be recorded in the board minutes of the meeting at which it is made. Any school business transaction which involves a possible conflict of interest with a board member, officer or director will have terms which are at least as fair and reasonable to the school as those which would otherwise be available to the school if it were dealing with an unrelated party. The board chairperson, after receiving information about a possible conflict of interest, will take such action as is necessary to assure the transaction is completed in the best interest of the school without the substantive involvement of the person who has the possible conflict of interest. (this does not mean that the purchase or other transaction must necessarily be diverted, but simply that persons other than the one with the possible conflict will make the judgments involved and will control the transaction.) each board member, director and officer will complete a questionnaire on an annual basis. A written record of any report of possible conflict of interest and of any adjustments made to avoid possible conflicts of interest will be maintained with the board minutes.”

“A sub-committee of the board is formed to determine the compensation of the officers. A compensation analysis is done for each position based upon the compensation and fringe benefits reported on 990 tax returns for comparable agencies in the industry. This process is documented in board meeting minutes.”

“The governing documents, conflict of interest policy and financial statements are available upon written request.”

“Amortization of unrecognized loss on pension plan 593,426.”