Democracy Prep Public Schools

“Form 990 is reviewed by management and the finance committee of the board of directors for approval. If changes are required, the organization will then forward the form 990 to the auditing firm and a final version will be distributed to all board members prior to the irs submission.”

“The school shares its conflict of interest policy with officers and directors on an annual basis. Officers and directors are expected to declare if at any point a conflict of interest arises. After disclosure of a potential conflict, the individual in question must recuse themselves from voting on the matter. Such matters involving the existence of conflicts of interest are documented in the minutes of the governing board.”

“Compensation of officers is determined by the board of directors using comparability data, including the form 990s of similarly situated non-profit organizations. The process was last conducted in 2017 and was documented in the minutes of the governing board.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request at 1767 park avenue, 4th floor, new york, ny 10035, or by calling the organization directly at (646)829-9659.”

“The form 990 is being amended due to various changes in the organization's financial statements. The form 990 originally filed with the internal revenue service was prepared prior to the issuance of audited financial statements. The following amendments have been made to conform to the amounts reported on the final audited financial statements for the tax year: -heading, item g -part i, line 7b, line 11, line 12, line 15, line 16b, line 17, line 18, line 19, line 20, line 21, and line 22 -part iii, line 4a/4e (expenses) -part iv, line 9 -part v, line 3a and line 3b -part viii, line 11a, line 11e, and line 12 -part ix, line 7, line 8, line 9, line 11b, line 11g, line 12, line 13, line 17, line 24b, line 24e, and line 25 -part x, line 3, line 4, line 15, line 16, line 17, line 25, line 26, line 27, line 33, and line 34 -part xi, line 1, line 2, line 3, and line 10 -schedule a, part ii, line 5, line 6, line 10, line 11, and line 14 -schedule a, part vi, supplemental information -schedule d, part iv, line 2a and line 2b -schedule d, part ix, line 2 -schedule d, part x, line 3 -schedule d, part xi, line 1, line 2d, line 2e, line 3, and line 5 -schedule d, part xii, line 1, line 2d, line 2e, line 3, and line 5 -schedule d, part xiii, supplemental information”

“The organization has a finance committee that is responsible for oversight of the audit and selection of the independent auditor. The process has not changed from the prior year.”