Celerity Educational Group

“The Organization does not have a committee that has broad authority to act on behalf of the governing body.”

“The Form 990 is sent to the Board of Directors and its audit and compliance committee for review, and the return is reviewed by the signing officer before filing.”

“Officers, directors, trustees and key employees are required upon taking office and annually to submit a statement of economic interests (Form 700) pursuant to the Organization's conflict of interest code and the California Political Reform Act. If a conflict arises, the board member is asked to excuse himself/herself from all discussion and voting on the issue.”

“The CEO salary is determined by the Board of Directors upon review of the CEO compensation at similarly situated organizations of a similar size within the Los Angeles geographical area. Compensation of key employees and other officers is determined upon review of the compensation at similarly situated organizations of a similar size within the Los Angeles geographical area and approved by the CEO.”

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

“The Organization participates in the Public Employee Retirement System of California and State Teachers Retirement System, defined benefit plans, due to the size and varied participants in this plan the actuarial value is not calculated on a per employee basis. No amount is included in column F for a reasonable estimate of the increase in actuarial value.”

“Consultants: Program service expenses 1,007,141. Management and general expenses 322,589. Fundraising expenses 0. Total expenses 1,329,730. Contracted Substitute Teacher: Program service expenses 1,495,474. Management and general expenses 479,004. Fundraising expenses 0. Total expenses 1,974,478. Personnel Services: Program service expenses 2,612. Management and general expenses 836. Fundraising expenses 0. Total expenses 3,448. Financial Services: Program service expenses 458,228. Management and general expenses 146,772. Fundraising expenses 0. Total expenses 605,000. Educational Consultants: Program service expenses 2,013,242. Management and general expenses 644,846. Fundraising expenses 0. Total expenses 2,658,088.”

“The board of directors assumes responsibility for the oversight of the audit of the organization's financial statements and selection of an independent accountant. This process has not changed from the prior year.”