Capital Preparatory Schools Inc

“The organization did not have any committees with authority to act on behalf of the governing body during the tax year.”

“The form 990 is prepared by an outside accounting firm. The return is reviewed by management and electronically provided to all board members prior to filing with the internal revenue service.”

“The organization has a conflict of interest policy applicable to officers, directors, and key employees. On an annual basis, each officer, director, and key employee must sign a statement, which affirms that such person has received a copy of the conflict of interest policy and has agreed to comply with the policy. Such persons have a duty to promptly disclose the existence of any potential conflict of interest to the board. After disclosure of a potential conflict of interest and all material facts to the board, the person involved must leave the meeting while the determination of a conflict of interest is discussed and voted upon by the board. If it is determined that a conflict of interest exists, the interested person may make a presentation at the governing board, but after the presentation, he/she must leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the conflict of interest. The board will determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board will determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interests and will make a decision as to whether to enter into the transaction or arrangement.”

“The compensation of the chief executive officer was determined and approved by the board of directors. The forms 990 of other organizations, data gathered by an independent consultant, and a compensation comparison study of similar organizations was utilized as part of the process. The process as outlined above was last conducted in 2024 and was contemporaneously documented. Form 990, part vi, section b, line 15b: the compensation of other officers and key employees were determined and approved by the board of directors. The forms 990 of other organizations, data gathered by an independent consultant, and a compensation comparison study of similar organizations was utilized as part of the process. The process as outlined above was last conducted in 2024 and was contemporaneously documented.”

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