Pinnacle Charter School

“Chief Financial Officer duties, including finance/accounting operations and assistance with budget preparation, are outsourced to a local CPA firm.”

“The draft Form 990 is provided to the entire governing board prior to being filed.”

“Compliance with conflict of interest statements are reviewed annually by reviewing the board minutes and conflict of interest statements made by the board of trustees.”

“Prior to being notified of the closure, the Board of trustees performed an annual performance evaluation of the Organization's Chief Academic Officer (CAO). The CAO's compensation was determined based on the Board's evaluation and comparable data from other charter schools in the local area The deliberations/results of evaluations were documented.”

“Governing documents such as bylaws, charter and other organizing documents, are made available upon request.”

“Following a vote of its authorizer, the Board of Regents of the New York State Education Department to deny a renewal of its charter to operate a charter school, the Organization was notified on 8/23/13 that the New York State Education Department would immediately commence closing procedures. Accordingly, the charter school program was terminated and ceased operations as a New York charter school as of said date, and the School immediately began to implement New York State Education Department mandated closing procedures. The Organization is currently undergoing the lengthy process of dissolution in accordance with the provisions of New York State law. All remaining net assets will be fully liquidated in accordance with the provisions of New York State law when the school's dissolution plan is finally approved by the Board of New York State Education Department and its Board of Regents and upon final order of dissolution to be issued by a Justice of the New York State Supreme Court.”