Global Academy

“The bylaws were amended may 2024 to add "section 3. Officers - directors shall designate a board chair, treasurer, and secretary by a majority vote from time to time, but not less then once annually."”

“The organization has two voting classes of membership designated as "enrollee members and "employee members". Enrollment of a child in the organization shall qualify the parent(s) or legal guardian(s) of such child for membership during the child's enrollment. Paid employee by the organization shall qualify the employee for membership during the term of their employment.”

“All members in good standing are eligible to vote for the board members at the annual meeting in person or by proxy.”

“Form 990 is reviewed by the board prior to filing with the irs.”

“Each director, principal, officer, and committee members with governing board delegated powers is required to complete an annual statement that confirms that the individual has received, understood, and agreed to comply with the conflict of interest policy. This includes a duty to disclose any actual or potential conflicts on the proposed transactions. After disclosure and admission of any material facts, the conflicted individual is required to leave the meeting while the determination of a conflict is discussed and voted upon by the board or committee involved. The board or committee chair will conduct due diligence to determine if a similar transaction can be arranged that would not lead to a conflict of interest. The proceedings are documented in the meeting minutes.”

“The board used comparative data to determine the school director's compensation and documented the deliberation and decision in the board meeting minutes. The process is performed every year.”

“The school makes all of its governing documents, conflict of interest policy and financial statements available to the public upon request for the same period of disclosure as set forth in section 6104(d).”

“Per mn statute 124e.07, charter schools are required to have a licensed teacher as a member of the board of directors. Susan eltawely, megan hendricks, kim fields, stephanie lennartson, and chelsea pelzer are board members, but received compensation for their services as teachers.”

“Miscellaneous contracted services: program service expenses 348,781. Management and general expenses 77,630. Fundraising expenses 0. Total expenses 426,411. Student transportation: program service expenses 687,360. Management and general expenses 0. Fundraising expenses 0. Total expenses 687,360. Food service: program service expenses 399,781. Management and general expenses 0. Fundraising expenses 0. Total expenses 399,781.”

“Pension liabilities, deferred outflows & inflows pension: as a charter school in the state of minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The school's contributions to the plans are also regulated by statute and are based on a percentage of salaries and wages earned by current employees. Therefore, while the net pension liability, deferred outflows and inflows, are reported on the school's statement of net position, the school is not in a position to directly control the liabilities or the subsequent liquidation of the liabilities.”

“Gasb 68 - pension adjustment 523,760.”