Village Academies Network Inc

“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 directors, 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 director, 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 director, 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 director 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 director to the board, and thereafter on an annual basis, all director, in addition to all officers and employees, are required to complete a conflict of interest questionnaire. Each director, 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 chief executive officer, chief operating officer, and vice president of finance was determined and approved by the board of directors. An independent compensation consultant and review of comparability data, including the forms 990 of similarly situated non-profit organizations, was utilized in determining compensation. The process was last conducted in 2022 and was documented in the board minutes.”

“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 on officer's life insurance policy -2,453,025.”

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

“Form 990 was amended to account for changes in the audited financial statements to include accrual of employee retention credit: 990 part viii, line 1e 990 part x, line 3 and line 27 schedule b added department of treasury schedule d, part xi line 1”