Innovate Manhattan Charter School

“The charter school has a licensing and consulting services agreement with kunskapsskolan usa, inc. ("kusa") to provide a comprehensive education program and consulting to implement the program as well as to provide management and consulting services including hiring, supervising, and performance managing the head and assistant head of the school. During the board of trustees meeting on february 11, 2015, the trustees approved to close the charter school at the end of the 2014-2015 school year. As of july 1, 2015, the charter school began closing procedures and is working directly with the board of regents of the university of the state of new york and kusa to complete the process. There was no expenses related to kunskapsskolan usa, inc. In the current year and outstanding payables accrued in prior year were repaid in full in the current year.”

“The draft form 990 is reviewed by the head of school and the finance committee. The board approves form 990 which is then signed by the board designee.”

“The school continually monitors and annually surveys trustees, officers, and key employees in order to identify possible conflicts of interest. Members are required to disclose information about the interest which could lead to conflicts of interest to the chairperson of the board. In regards to actual or apparent conflicts of interest, a director shall: 1) refrain from any use of their position as a director which is motivated by, or gives the appearance of being motivated by, the desire for gain for the director or for other person or organization with which he/she is associated; 2) disqualify himself/herself from formal or informal discussion with directors or participation in any decisions which pose a conflict of interest.”

“The school seeks to ensure that compensation is reasonable and represents the fair market value for services rendered. Comparable data is used by the board when determining the compensation of officers and key employees. The school sets compensation within the range of the going market rate. No individual having a conflict of interest under the school's conflict of interest policy is permitted to participate in the review or decision making process.”

“These documents are located at the school and are available upon request. They are also available on guidestar.org”

“During the board of trustees meeting on february 11, 2015, the trustees approved to close the charter school at the end of the 2014-2015 school year. As of july 1, 2015, the charter school began closing procedures and will work directly with the board of regents of the university of the state of new york and kusa to complete the process.”

“Financial management services: program service expenses 0. Management and general expenses 19,186. Fundraising expenses 0. Total expenses 19,186. Payroll service fees: program service expenses 0. Management and general expenses 466. Fundraising expenses 0. Total expenses 466.”

“The process is consistent with prior years.”