Martin De Porres School for Exceptional

“The 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. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the board members of the organization for any comments. Any comments are then summarized and provided to the outside accountant. After each comment is addressed, the return is approved, finalized and then filed with the internal revenue service.”

“The school has a conflict of interest policy applicable to directors and officers. Any director or officer who may be involved in a potential conflict of interest has a duty to disclose in good faith to the president or chair of an authorized committee, the material facts concerning such transaction. The director or officer must refrain from voting on any such transaction, participating in or being present during deliberations regarding such transaction, or attempting to improperly influence deliberations or voting. The officer's or director's presence may not be counted in determining the quorum for any action with respect to the transaction. Any transaction involving a conflict of interest must be approved by a majority of the directors or committee members present at the meeting, and any actions and considerations of any alternative transactions must be contemporaneously documented. Prior to initial election and annually thereafter, each director and officer is required to complete and sign a conflict of interest questionnaire and provide it to the board secretary.”

“The executive director's compensation is reviewed and approved by the board of directors. The board compares the executive director's salary to other ceo/ex compensation for similar organizations in the region. The process is documented by the board of directors and was last conducted during fiscal year 2022.”

“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.”

“Loss on lease termination -39,095. Write off pledge receivables -6,865.”

“The organization has an audit committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the prior year.”