Acero Charter Schools Inc.

“Uno charter school network delegated control over management duties for the schools to united neighborhood organization to whom they paid a management fee. United neighborhood organization's management contract and duties expired on june 26, 2015.”

“Changes were made to the conflict of interest provisions of the by-laws pursuant to recommendations from the independent monitor.”

“The cfo sends a copy of the final draft 990 prior to its filling to the board of directors. The cfo reviews the draft with the board of directors. The board of directors are provided with a copy of the 990 prior to submission to the irs.”

“Monitoring is done on an on-going basis by management and the board of directors and is accomplished as part of regular board of directors meetings and monitored by corporate attorneys. A policy has been established to define conflicts of interest and shall require that each officer, director, and employee with decision-making authority of the entity certify at least annually that he or she has no conflict that has not been disclosed in the appropriate certification form. The policy also includes practices for monitoring proposed or ongoing transactions and dealing with potential or actual conflicts, whether discovered before or after the transactions has occurred.”

“Human resources researches comparable ceo compensation by reference to salary surveys and publicly available information. This information was included in the compensation information package given to the board by the chief operating officer. The board uses this information to determine and document annual compensation. The independent board of directors review the reasonableness of the compensation arrangement and approval is documented in the board minutes. The board of directors also approves any proposed compensation to any individual that is $125,000 or greater.”

“The organization's 990, exemption submission (form 1023), other governing documents, conflict of interest policy and financial statements are made available to the public upon request.”

“The compensation paid for all listed officers, former officers and key employees with hours dedicated to related organizations is paid by united neighborhood organization (uno), the management entity for the uno charter school network (ucsn). The compensation listed includes payment for their responsibilities in both ucsn and uno.”

“Difference in total revenue from audited financial statements of $564,396. The difference of $594,396 is due to in-kind revenue and expenses not included on the form 990.”

“There is no change from the prior year. Oversight of the audit and selection of an independent accountant are performed by the board of directors or appropriate committees of the board.”

“Difference in total expenses from audited financial statements of $564,396. The difference of $564,396 is due to in-kind revenue and expenses not included on the form 990.”