Crescent Leadership Academy Inc

“Crescent leadership academy entered an agreement on may 27, 2016 and to be effective through the last day of the 2021-2022 school year with rite of passage, inc. ("rop"). The relationship between the parties was developed and entered into through arms-length negotiations and is based solely on the terms of the management agreement. Cla pays an annual fee to rop in the amount of 10% of the state and local school funds that cla receives, directly or indirectly, plus 10% of the federal funds. In addition to the management fee, cla reimburses rop for all reasonable expenses paid by rop in implementing cla's budget. These costs include, but are not limited to, personnel costs, curriculum, supplies, supervision and behavior management of students, etc. The principal, core and non-core teachers and support staff are employees of rop. Rop is responsible for hiring employees and maintaining necessary personnel information.”

“No committee has the authority to act on behalf of the governing body. Contracts and/or financial commitments can only be signed and approved by the president.”

“Line 11a explanation- each board member receives a draft copy of the 990 and examines for items that may bring up discussion with other members and/or cfo.”

“If the board or committee has reasonable cause to believe that a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the response of the member and making such further investigation as may be warranted in the curcumstances, the board or committee determines that the member has in fact failed to disclose an actual or possible conflict of interest, it shall take the appropriate disciplinary and corrective action.”

“These decisions are determined by the organization's compensation committee. Research is done on principal salaries using school district table, information from the department of labor and benchmarking against other principals to determine compensation. Additionally, cfo reviews all contracts for compliance.”

“Governing documents, conflicts of interest policy and financial statements are available upon request.”

“Purchased professional and technical services: program service expenses 162,750. Management and general expenses 165,380. Fundraising expenses 0. Total expenses 328,130.”

“Organization assumes responsibility for oversight of audit.”