Brooklyn Success Academy Charter School 1

“The school entered into a relationship with the charter management organization, success academies charter network, inc. (the "network"). The responsibilities of the network are as follows: (1) hiring educational consultants and staff to advise on school development; (2) researching and documenting the successful characteristics of k-12 schools such as those affiliated with the network; (3) providing resources to new and established charter schools within the network, such as assistance recruiting leadership, administration and staff; recruiting students; and fostering the development of shared services, curricula, and facilities; (4) performing research on policies that can increase educational opportunities for all children, including but not limited to policies relating to charter schools; (5) providing additional support to students within the network or students of need to allow them to pursue academic excellence; and (6) other activities that promote educational achievement.”

“Form 990 is reviewed by management and the finance committee of the board of trustees for approval. If changes are required the school will then forward to the auditing firm and a final version will be distributed to all board members prior to the irs submission.”

“The school shares its conflict of interest policy with board members and officers as part of their regular meetings. Officers, directors, and key employees are expected to declare if at any point a conflict of interest arises.”

“Comparable data is used by the board when determining the compensation of officers and key employees.”

“Upon request, the school makes available to the public its governing documents, conflict of interest policy, and financial statements.”

“Net assets transferred pursuant to a merger agreement 304,256.”

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