Global Online Academy

“There are two classes of members: founding members which shall be the 10 independent schools that signed two-year membership contracts with global online academy by july 8, 2011 and paid the designated membership fee; and members which are schools that have joined the academy after that date. Every founding member school will have one seat on global online academy's governing board of directors during the first three years of operation.”

“The tax return is prepared by a third party cpa and is reviewed in detail by the executive director prior to filing with the irs.”

“All trustees, officers and key personnel sign a conflict of interest policy. If an individual believes that he or she may have a conflict of interest, the individual shall promptly and fully disclose the conflict to the president of the board of trustees and, when appropriate, the executive director, and shall refrain from participating in any way in the matter to which the conflict relates until the conflict has been resolved. When an issue brought to the full global online academy board of trustees or one of its committees for consideration is one in which a trustee has a direct financial interest, that trustee is asked to make the conflict of interest known in writing to the president of the board. In addition, when the issue is raised, either in committee or at a regular board meeting, the trustee for whom the issue represents a conflict of interest should excuse him or herself from the meeting during the discussion and vote. In the event that the administration believes a transaction with a related party may be in the best interest of the organization, the board president and executive director may submit a recommendation to the board officers for review, evaluation, and recommendation. An interested trustee should not participate in this decision.”

“The board of directors and the executive director use a variety of data pools for compensation comparables.”

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

“Other professional fees: program service expenses 346,484. Management and general expenses 32,868. Fundraising expenses 0. Total expenses 379,352. Teacher stipends: program service expenses 1,583,248. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,583,248.”

“The organization did not change its oversight process or selection process during the tax year.”