Elysian Charter School of Hoboken Inc.

“The charter school has its form 990 prepared by an outside accounting firm and has established the following review/process to ensure that the information reported is complete and accurate: after the form 990 has been prepared, it is reviewed by management and then provided to members of the charter school's governing board for review and any comments. The outside accounting firm incorporates the comments of management and members of the board. The form 990 is finalized and filed with the irs.”

“The charter school has a conflict of interest policy that it regularly monitors and enforces. The charter school's board mandates that all members of management and the governing board annually sign the conflict of interest policy and disclose any potential or actual conflicts that may exist. If a potential or actual conflict of interest policy exists, the governing board and management will investigate the issue. If a conflict of interest is determined to exist, management and the governing board will be notified immediately. The member of management/the board with the conflict will not be allowed to vote or be a part of any decisions about any such transactions that have to do with the conflict until such time that there is no longer a conflict.”

“The compensation of the charter school's officers and or key employees is reviewed and approved by the charter school's board of trustees.”

“The compensation of the charter school's chief executive officer (school director)is determined annually after an evaluation of the ceo's performance by the board. The compensation is benchmarked using publicy available resources such as forms 990 of other new jersey charter schools.”

“The charter school makes its forms 1023 and 990 available to the public upon request from the business office: 1460 garden street, hoboken, nj 07030, telephone - 201-876-0102. The form 990 could also be obtained through other's website: www.guidestar.org”

“The charter school makes its governing documents, conflict of interest policy and financial statements available to the public upon request from the business office: 1460 garden street, hoboken, nj 07030, telephone - 201-876-0102.”

“Line 9 - reconciliation of net assets - in the prior year ended june 30, 2022, the charter school's form 990 reflected the gasb 68 pension adjustments. However, for the year ended june 30, 2023, the charter school has decided to simplify its fund 990 by not including the gasb 68 pension adjustments resulting in an adjustment of $1,729,851 to the beginning net assets.”