Lighthouse Academies Inc.

“The form 990 is prepared by the external auditors and reviewed by management and the finance committee of the board. Revisions, corrections, etc. Are made as necessary. Once all are satisfied with the form, it is finalized and a copy is sent to all board members. A review is conducted at a board of trustees meeting prior to filing with the irs.”

“The organization requires the board of directors to complete on an annual basis the conflict of interest form. The policy calls for full disclosure within 48 hours in the event of a conflict of interest and an evaluation is done by the president. No action is done without a vote by the full board which could include resignation or removal from the board.”

“Annually a compensation committee composed of board members conducts a performance review and evaluation of the ceo. The review also establishes the individual's compensation for the following year. The board's deliberation and decision is noted in the minutes of the meeting. The compensation of other officers and key employees is established by the ceo and is available for review by the board.”

“The organization's articles of incorporation are available at the secretary of states office. The annual financial statements are included in the annual filing with the state attorney general and are available for public inspection at that office. The organization does not make its by-laws available to the public as it does not believe that a public purpose would be served by doing so.”

“In accordance with an asset purchase agreement (apa), dated january 25, 2012 between lighthouse academies, inc. (lha) and charter facilities management, inc.(cfm, inc.), a delaware not-for-profit corporation, lha and cfm, inc. Agreed on the separation of the creation, implementation and on-going management of public charter schools from the facility ownership, management and maintenance of public charter school physical plants to be the responsibility of cfm, inc. The apa was executed on july 1, 2012. Cfm, inc. Formally changed its name to charter school support services, inc. (csss) effective june 23, 2014. As a result of the apa, lha divested itself of assets and related liabilities as follows: on august 28, 2013, the real estate assets and liabilities of: charter facilities management, llc (cfm), a delaware limited liability company, together with its wholly owned subsidiaries monument lighthouse facility, llc (monument llc), west gary lighthouse charter school facility, llc (west gary llc) and gary lighthouse charter school facility, llc (gary llc) (collectively, the llc's) were sold to subsidiaries of csss in consideration for full repayment of all outstanding debt related to these real estate assets. On june 30, 2014, the remaining net assets of cfm and the llc's were either refunded to lha and the related schools to the extent not used for debt service, or fully disposed of as a gain on the disposal of business segments. For the year ended june 30, 2014, the organization recorded a gain on disposal of business segment totaling $849,539.”