Excell Academy for Higher Learning Inc.

“The school's membership consists of enrollee members, employee members, and community members. Enrollment of a child in the school qualifies the parent(s) legal guardian(s) as enrollee memebrs. Paid employment by the school qualifies the employee as an employee member. Service of fifteen hours of volunteer work for the school qualifies an individual as a community member. All members have equal voting rights.”

“The school's members are eligible to vote to elect board members at the annual meeting.”

“Amendments to the school's governing documents must be approved by a majority vote of the members.”

“The school does not have committees that have the authority on behalf of the governing body.”

“The school director reviewed the form 990 with a contracted accountant and the independent auditor. This process was conducted prior to filing the form 990 with the irs.”

“Annually, board members complete a full disclosure which includes the member, spouse, and close relatives to identify potential conflicts of interest. Conflicts of interest are reviewed and determined by remaining board members not in conflict. Individuals with potential or actual conflicts of interest do no vote on that matter. All proceedings related to conflcits of interest are documented in the meeting minutes.”

“When determining the compensation of the school director and all other employees, the school's board of directors reviews the compensation levels of comparable positions within the community as well as reviewing experience level and school size for the school director.”

“The school makes 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).”

“Related board members per mn statute 124e.07, charter schools are required to have licensed teachers as members of the board of directors. Kula giddings is a board member and received compensation for services as a teacher.”

“Other: program service expenses 408,251. Management and general expenses 158,274. Fundraising expenses 0. Total expenses 566,525. Transportation: program service expenses 775,737. Management and general expenses 0. Fundraising expenses 0. Total expenses 775,737. Food service expenses: program service expenses 428,658. Management and general expenses 0. Fundraising expenses 0. Total expenses 428,658.”

“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 531,392.”