Logos Preparatory Academy

“Julie goolsby rick goolsby director director family relationship randy mcilvoy tammy mcilvoy director headmaster family relationship”

“The form 990 is prepared by a third party cpa firm based on information provided by the taxpayer. The firm provides the form 990 to the organization for review. It is reviewed by the president and a member of the governing body and approval is given to the firm to process for signature and efiling.”

“The conflict of interest policy covers any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction. After all facts are disclosed, and after discussion with the interested person, he/she shall leave the meeting while a determination of a conflict of interest is discussed and voted upon. If it is determined that a conflict of interest exists, the chairperson shall, if appropriate, appoint a disinterested person to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If such a transaction or arrangement is not reasonably possible, the governing board shall determine by a majority vote of disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above standard, the organization shall make its decision as to whether to enter into the transaction or arrangement. If the governing board has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If it is determined the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“The organization considers outside data in order to determine the president's compensation. The compensation is established and voted on by only those members that are independent to the person being compensated. The decision is fully documented in writing by the organization.”

“No other officers or key employees are compensated by the organization.”

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

“Logos preparatory academy is a university-model school. Logos prep is passionate about partnering with parents to educate the next generation of world changers. Logos prep trains, develops, and encourages young people spiritually, academically, physically, emotionally, and socially, using christian values for the glory of god. Logos prep promotes biblical standards integrated in the education process to inspire students to do god's will for generations to come.”

“Prior period adjustment to receivables 29,790 prior period adjustment to deposit asset 6,500 prior period adjustment to inventory 18,309 prior period adjustment to prepaid expenses 2,211 write off of bad debt -9,843 prior period adjustment to cash -68 prior period adjustment to liabilities -8,395 total 38,504”

“The prior form 990 inaccurately stated the numbers were reported on the cash basis. There was no change in the accounting method the organization used to operate and the accounting method is correctly reported as accrual.”