Education for Change

“There are no committees that have been granted authority to act on behalf of the governing board.”

“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 business 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.”

“Board members, officers, and employees of the organization are required to sign a conflict of interest statement annually. Compensation arrangements and other transactions are periodically reviewed to ensure the organization is not at risk of engaging in activities that may conflict with its charitable purposes. The minutes of the board of directors' meetings will include the names of individuals with 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 existed. If a conflict of interest is identified, appropriate actions are taken, including limiting the individual's influence on related business matters.”

“The board reviews the salary for top management level officials, such as, ceo, cbo, etc. 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. Additionally, the organization makes their governing documents, conflict of interest policy and financial statements available upon request.”

“Other fees for services: program service expenses 1,824,363. Management and general expenses 254,994. Fundraising expenses 0. Total expenses 2,079,357. District oversight fees: program service expenses 123,042. Management and general expenses 158,742. Fundraising expenses 0. Total expenses 281,784. District-service consultants: program service expenses 2,699,573. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,699,573. Sped subagreements for services: program service expenses 2,019,900. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,019,900.”

“The process for oversight and seletion of an independent accountant has not changed from the prior year.”