Alain Locke Charter School

“The organization does not compensate any other officers or key employees. Accordingly, per the form 990 instructions, this question has been intentionally marked "no".”

“The executive committee shall consist of such number of individuals as the board of directors shall determine. The executive committee shall have full power and authority to act on behalf of the board of directors between meetings of the board, subject to the provisions of Section 6.1 of the bylaws. Unless otherwise provided by the board, the executive committee shall nominate for board consideration persons to be elected as board members, committee members and officers. The chairman of the board shall serve as chairman of the executive committee.”

“The sole voting member of Alain Locke Charter School shall be the Accelerate Institute, a related tax-exempt Illinois organization. The following decisions will be subject to approval by a majority vote of the board of directors of Accelerate Institute, acting in its capacity as sole voting member of Alain Locke Charter School: approval of the annual budget, approval of material contracts and expenditures in an amount greater than $100,000, and the hiring/firing of the principal of Alain Locke Charter School.”

“Governance decisions subject to approval by the sole member are outlined in the response to Form 990, Part VI, Line 6.”

“The organization's management works with its independent third party tax preparers to complete the Form 990. Upon completion, the organization's management performs a detailed preliminary review of the prepared Form 990. Subsequent to management's preliminary review, a copy of the completed Form 990 is distributed to the full board for their review and comments prior to filing with the IRS.”

“The conflict of interest policy includes any director, advisory director, officer, or member of a committee with board-delegated powers who has a direct or indirect financial interest. In connection with any actual or possible conflicts of interest, an interested person must disclose the existence of his or her financial interest to the board of directors and members of any committee with board-delegated powers considering the proposed transaction. Conflict of interest questionnaires are distributed annually for the purpose of facilitating this disclosure. If it is determined that a conflict of interest exists, the board of directors or committee shall determine whether the organization can obtain a more advantageous transaction with reasonable efforts from a person or entity that would not give rise to a conflict of interest. If it is determined that an interested person has a conflict, the organization takes action to ensure that appropriate restrictions are put in place such as prohibiting them from any related discussion, vote or similar action on the matter. The board or committee may, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction. If the board or committee determines that a more advantageous transaction is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee shall determine by majority vote of the disinterested directors whether the proposed transaction is in the organization's best interests and is fair and reasonable to the organization, and shall make its decision (by majority vote of the disinterested directors) as to whether to enter into the transaction in conformity with such determination. The board chair and board members monitor compliance and enforcement of the conflict of interest policy.”

“The organization's board utilizes comparability data for similarly qualified persons in functionally comparable positions in the industry, as well as performance evaluations to determine the compensation of the organization's principal. The final determination of the principal's compensation arrangement is subject to the organization's independent board's review and approval. The determinations and deliberations regarding the principal's compensation are documented in the closed session board minutes. The process for determining the principal's compensation takes place annually and was performed in july 2024 for this fiscal year.”

“The organization makes its conflict of interest policy, governing documents, and audited financial statements available to the public upon request.”