Storefront Academy Harlem

“Before the form 990 was filed, a copy was distributed to the audit committee. After distribution, the audit committee held a meeting to discuss the 990, including any questions or comments, which the director of finance addressed. After that, the 990 was circulated to all board members via email for review. Comments and questions were requested, and were directed to the director of finance. Once these were addressed, any revisions were redistributed to all board members. Then the form 990 was filed with the irs.”

“Storefront academy harlem has adopted a conflict of interest policy that requires that any transaction with interested parties is fully disclosed. Sah will review this policy on an annual basis. The chair will report to the board of trustees that all disclosure forms have been completed and whether any potential conflicts have been disclosed. All board members, head of school, chief operations officer, and senior financial officers are required to complete the disclosure statement on an annual basis. If at any time a board member or employee acquires an interest in a matter that might pose a conflict, he or she shall promptly disclose such interest in writing. Interested parties who have an actual or potential conflict of interest will not participate in decisions or discussions affecting that interest and the organization. The board of trustees and key employees are covered under the conflict of interest policy. The business manager and assistant treasurer are involved in processing all invoices, and review each transaction to check for conflicts. If one is discovered, it is reported to the board chair. Conflicts at any level are reported to the chair.”

“Salary levels are approved by the finance committee of the board of trustees during the annual budget process as documented in the minutes of that committee. Members of the board of trustees checked with nysais, our accrediting organization, and the new york city public school system regarding current salary levels for heads of school and other administrative and teaching positions. The search committee of the board of trustees uses a consulting firm who has specialized in recruiting for not- for-profit organizations for more than 10 years. Among other things, they advised on salary levels based on their experience. This was last done in fiscal 2016.”

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

“This process has not changed from prior years.”