The Academies Charter Management

“There are no committees with authority to act on behalf of the governing body.”

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

“Monitoring is performed regularly by the officers to identify potential conflicts of interest. In connection with any actual or potential conflict of interest, an interested person, which can be any director, officer, or member of a committee with board delegated powers who has an outside interest, outside activity, or a direct or indirect financial interest, must disclose the existence and nature of any outside interest, outside activity and financial interest to the board of directors, or the board committee delegated the authority to receive such disclosures, and to any board committee considering a proposed transaction or arrangement where a potential conflict of interests exists. It is determined that an interested person has outside interest when they hold, indirectly or directly, a position or a material financial interest in any outside concern from which the individual has reason to believe the organization secures goods or services or that provides services competitive with the organization. It is determined that an interested person has outside activity when they render directive, managerial, or consultative services to, or are an employee of, any outside concern that does business with, or competes with the services of, the organization or to render other services in competition with the organization. The board or designated committee reviews any conflicts presented by interested parties. The chairperson appoints a disinterested person or committee to investigate the transaction in question and report findings to the board. Alternatives to the proposed transaction are identified and compared to the proposed transaction. The board votes on the most beneficial option for the organization. If the board has reason to believe an interested person has failed to disclose the potential conflict, the board will investigate further and if necessary, take appropriate disciplinary and corrective action.”

“The executive director's pay is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the executive director's compensation as a direct action. The officers and key employees' pay is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the officers and key employees' compensation as a direct action. The process described here was last completed in 2024.”

“The school makes its governing documents, conflict of interest policy, and financial statements available upon request.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”