Paramount School of Excellence Incorporated

“The process of reviewing the form 990 includes a detailed review of the form 990 and required schedules by the executive director, board president and treasurer. Each voting member of the governing body receives a copy of the form 990 to review prior to filing with the irs.”

“The written conflict of interest policy is regularly and consistently monitored and compliance enforced by the board president. The scope of this policy includes all board of directors and members of committees with board delegated powers. The policy is in place to avoid any duality of interest or potential conflict of interest by full disclosure of any such potential conflict, and by abstention by the interest person from any vote on a matter in which a conflict exists between the interested person and the school. The covered persons are to annually complete a certification form to acknowledge the absence of or existence of any conflict of interest and to describe such existence, if applicable. Each person shall promptly furnish and update certification to the school in the event that the certification previously furnished is no longer true and complete. The covered persons are to refrain from any known or anticipated financial interest or relationship which could reasonably be expected to create a conflict of interest on any matter which might come before the board of directors. Self-disclosure is required on any potential conflicts of interest. Any board member in conflict is to recuse themselves from participating in any deliberation or decisions on related transactions. The board of directors reviews all disclosed conflicts.”

“The process for determining compensation for the chief executive officer includes a review and approval by independent persons of the executive committee. Compensation is reviewed and approved annually. The executive committee uses industry standard data prior to board discussion and approval. Other school's form 990 information is used as comparable data. The deliberation, decision, and approval are documented in the executive committee memo. The process for determining compensation for officers/key employees includes a review by the employee's direct supervisor and approval by the chief executive officer. Compensation is reviewed and approved annually. The chief executive officer uses industry standard data prior to approval of the compensation package proposed by employee's direct supervisor. Other schools' form 990 information is used as comparable data. The review and contracted compensation approval are documented in the employee's personnel file.”

“The school makes the governing documents, conflict of interest policy, or financial statements available to the public upon request.”

“The amount in column (c) paid to the vendor keystone construction includes payments for both materials and services.”

“Purchased services: program service expenses 239,848. Management and general expenses 59,962. Fundraising expenses 0. Total expenses 299,810. Other professional fees: program service expenses 593,074. Management and general expenses 148,269. Fundraising expenses 0. Total expenses 741,343.”

“The board of directors assumes responsibility for the oversight of the financial statement audit and no processes have changed from prior year.”