Mastery Charter High School

“The form 990 is prepared by an independent accounting firm. The board of directors review the form 990 before it is submitted to the internal revenue service.”

“Employees and covered persons must adhere to the conflict of interest policy. Employees unsure as to whether a certain transaction, activity, or relationship constitutes a conflict of interest should discuss it with their immediate supervisor or human resources for clarification. Any exceptions to the policy must be approved in writing by the ceo. Failure to adhere to this policy, including failure to disclose any conflicts or to seek an exception, may result in disciplinary action, up to and including termination. Covered persons include board members and administrators (defined as those who (a) take or recommend official action which is "non-ministerial", that is, the action is discretionary or (b) who exercise management or operational oversight). All covered persons shall file annually a statement of financial interest with the school at which they are employed or on which board they serve. Any covered person who believes himself to have a conflict should seek advice of counsel and, if so advised, should recuse himself from participation in the action creating the potential conflict. If the covered person is a member of the board and, if advised by counsel, he should also disclose the potential conflict at the meeting of the board. Subject to the provisions of the pennsylvania public official and employee ethics act, contracts between a mastery school and a business in which the covered person or his spouse or child is associated are prohibited.”

“School leadership salary scales and other incentive programs are approved by the board of trustees every three years. The proposed scales and incentives are determined based on a combination of market data, school budgets and other considerations. The chief executive officer's compensation is set by the board of trustees after completion of an evaluation of progress towards annual performance goals. Lastly, annual salary changes are timely documented through salary confirmation emails and new hire compensation is timely documented through offer letters. The process described here was last completed in 2025.”

“Mastery charter high school's governing documents, conflict of interest policy and financial statements are available upon request.”

“The process has not changed from the prior year.”

“The implementation of gasb 101 resulted in a significant change in the measurement of the school's compensated absences liability, due to a broader recognition threshold and changes in how leave benefits are accrued. As a result, beginning net position was reduced by $1,528,656 to reflect the cumulative effect of applying the new accounting standard.”