Harlem Village Academy East Charter School

“Village academies network, an unrelated not-for-profit corporation, provides educational and operating materials, training, financial support and other services to the school. The following officers of the school are compensated by village academies network: reportable compensation: other compensation: deborah kenny, ceo $116,041 $5,498 chuck klein, vp finance $39,241 $3,378 *compensation is prorated based on an estimated allocation of time. Village academies network also compensated the above named persons for services provided to harlem village academy west charter school, a related organization. The same pro rata compensation/hours applied as described above. The village academies network was paid $885,267 for services during the fiscal year.”

“The form 990 is reviewed by management, and then filed with the irs. It is sent out to the finance committee of the board of trustees after the return has been filed, and then the full board upon the committee's approval.”

“The organization has a conflict of interest policy applicable to all trustees, officers and key employees (if any). Any potential or actual conflict of interest is required to be promptly disclosed in good faith in writing to each member of the board, together with all material facts known to such trustee, officer or employee with respect to an actual or potential conflict of interest. All potential or actual conflicts of interest are reviewed by the board. Any trustee, officer or employee to which the potential or actual conflict of interest relates must leave the room while deliberations are conducted. Any matter involving an actual or potential conflict of interest is approved by a majority vote of the board members present and voting at the meeting provided that the trustee to which the potential or actual conflict of interest relates is not be permitted to vote. Discussions and decisions regarding conflicts of interest are contemporaneously documented in the board minutes. Prior to the initial election or appointment of a trustee to the board, and thereafter on an annual basis, all trustees, in addition to all officers and employees, are required to complete a conflict of interest questionnaire. Each trustee, officer and employee must also annually sign and submit to the board secretary a statement which affirms such person: (a) has received a copy of the policy, (b) has read and understands the policy, and (c) has agreed to comply with the policy.”

“The compensation of the school principals was determined via review of a number of factors including publicly available salary information, including the forms 990 of similarly situated non-profit organizations, as well as independent salary surveys. The compensation was approved by the board of trustees.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request or by calling the organization directly.”

“Loss due to cyberfraud -612,534.”

“The school has a finance committee that is responsible for the oversight of the audit and the selection of independent auditor. This process has not changed from the prior year.”