Goal Academy

“During the year ended June 30, 2015, the Organization was a party to a management agreement with Summit Education Group whereby management services historically performed by officers or highly compensated employees of GOAL were performed by Summit Education Group. The services performed by Summit Education Group included a broad range of educational management support services including facilities management, some student services, financial management and staff management. Ken Crowell, the Organization's executive director, was the sole owner of Summit. The payments by GOAL to Summit for services for the period ending June 30, 2015 totaled $3,517,404. The Organization is aware that Mr. Crowell was paid approximately $323,346 by Summit during year. Of such amount, $291,346 was stated by Mr. Crowell to represent his income tax liability arising from the profits of Summit and were applied to pay state and federal income tax liabilities for 2014 and state and federal estimated tax liabilities for 2015. The Organization does not know the extent to which Mr. Crowell in fact profited from the services agreement (as the sole owner of Summit) or additional compensation or distributions, if any, paid by Summit to Mr. Crowell. Because Summit also provided services to another school operated under a contract with a school district (the "contract school"), a portion of Mr. Crowell's services were applicable to services provided by Summit with respect to such contract school, as well as to other services unrelated to the Organization. Kris Enright, the Organization's assistant state director, also provided services to Summit and received compensation from Summit totaling $32,000 during the period ended June 30, 2015. Because Summit also provided services to the separate contract school, a portion of Mr. Enright's services were applicable to services provided by Summit with respect to such contract school, as well as to other services unrelated to the Organization.”

“The Director and the Board review the 990 before filing.”

“Board members, executive officers and key employees are required to disclose any conflicts on an annual basis.”

“Executive compensation was set by deliberation of the Board in conjunction with financial oversight from the local school district, the State of Colorado, and in compliance with all financial transparency laws and regulations. In setting the compensation, surveys of comparable online charter schools as well as benchmarking against conventional schools and similary related state and national organizations was used.”

“Financial information is available on the School's website.”