Education for Change

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, the chief finance and operating officer reviews the document for factual statements and compare it to the final audited numbers to ensure accuracy. Any changes or revisions are then incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

“Each director, principal officer, and member of a committee with board of directors-delegated powers annually signs a conflict of interest. Compensation arrangements, arrangements, and other transactions are periodically reviewed to determine whether the organization is at risk of engaging in activities that may conflict with its charitable purposes. The minutes of the board of directors will contain the names of persons who have potential financial interests, actions taken to determine whether a conflict of interest was present, and the board's determination of whether a conflict of interest, in fact, existed.”

“The board reviews the salary for key executives in a closed session. They use comparative salary data provided by new schools venture fund, which shows salary data for comparable positions with other charter management organizations (cmo's) and local districts.”

“The organization's by-laws are posted on its website- https://www.efcps.org. There are no current conflicts of interest. Other documents are available upon request.”

“Special education service providers: program service expenses 1,664,623. Management and general expenses 9,898. Fundraising expenses 0. Total expenses 1,674,521. Other consultants and service providers: program service expenses 773,843. Management and general expenses 151,520. Fundraising expenses 0. Total expenses 925,363. Other service fees: program service expenses 2,074,929. Management and general expenses 292,716. Fundraising expenses 0. Total expenses 2,367,645.”

“The finance committee selects the auditing firm and oversees the audit process. There were no changes from the previous year.”