Kipp Academy Charter School

“The organization has a service agreement with kipp nyc, llc, (a disregarded entity of kipp new york, inc.), a related entity, which provides operational and administrative support to the school. Included in these services provided are human resources, technology, data, operations, finance and accounting, recruiting, fundraising, instructional training and progress monitoring. For the year ended june 30, 2023, the organization incurred expense of $3,048,702 for these services.”

“There are no committees with authority to act on behalf of the board.”

“The form 990 is prepared by an independent public accounting firm with the assistance of management. Management will provide the form 990 to the board of trustees before it is filed with the internal revenue service.”

“Kipp academy charter school has adopted a conflict of interest policy for the guidance of all directors, officers and key employees of the corporation. Disclosure of material facts surrounding a conflict of interest shall be made to the chairperson of the board. A key employee who wishes to use staff assistance, services or facilities for purposes other than carrying out professional responsibilities must disclose the conflict to the chief operating officer of kipp academy charter school, who will exercise discretion in allowing or disallowing the proposed use in accordance with the conflict of interest policy. The chairman of the board reviews all written disclosures of conflicts of interest, however related party transactions must go through a formal review by a quorum of the board consisting of independent directors.”

“The organization's determination of compensation for the superintendent, other officer and key employee positions are based on compensation surveys, related market research, evaluation of performance and experience. Compensation for the aforementioned positions are determined annually and approved by the board of the respective organizations. This process and the final determinations were timely documented.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon written request.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant.”