Pave Academy Charter School

“Pave Schools, Inc., a not-for-profit 501(c)(3) exempt organization, provided the organization with management services during fy'17. Pave Schools provides educational, operational, fiscal management and human resource services. the organization paid Pave Schools $779,355 for these services in fiscal year 2017.”

“The Form 990 is reviewed by management and the finance committee of the board of trustees for approval. If any changes are required, the school will then forward any questions or comments to the accounting firm and a final version will be distributed to all board members prior to filing the Form 990 with the IRS.”

“The organization has a conflict of interest policy applicable to all trustees, officers and key employees (if any). ALL applicable individuals ARE REQUIRED TO SIGN A CONFLICT OF INTEREST AGREEMENT ANNUALLY, DISCLOSING ANY possible conflict of interest and be given the opportunity to disclose all material facts to the trustees or committee with Board delegated powers decides that a conflict of interest exists. After disclosure of the all material facts, and after any discussions with the interested person, he/she shall leave the Board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining, disinterested Trustees or committee members shall decide if a conflict of interest exists. The Board or committee shall determine by a majority vote of the disinterested Trustees or committee members whether a conflict exists. Deliberation and decisions are recorded in the minutes of the board. Annual disclosure statements are reviewed annually by the Audit Committee.”

“PAVE participates in an annual compensation survey conducted by a charter school industry association, which surveys similar organizations on their compensation practices and amounts. Nearly all of PAVE's positions are reflected in this survey, including but not limited to: CEO, CFO, COO, Principal, Functional Directors, and Teachers. Additionally, PAVE refers to the NYC DOE schedules for school leaders and instructional staff, as well as other non-profit compensation schedules across the non-profit sector as a whole. PAVE conducts its review of compensation and updates its compensation schedule annually. Executive compensation is approved by the board and documented in the minutes of the board. This process was last conducted in FY 2017.”

“PAVE Academy Charter School 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 732 Henry Street, Brooklyn, NY 11231, or by calling the organization directly at 718-858-7813.”

“loss on disposal of assets -4,977.”

“The school has a finance committee that is responsible for oversight of the audit and selection of the independent auditor.”