Downtown Charter School Inc

“There are no committees with the 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. Any question of a conflict is addressed with the interested person, who is required to disclose the existence of any financial interest and be afforded the opportunity to disclose all material facts to the board and executive director. If a conflict of interest is identified, the appropriate action is taken, including limitations to the individual's influence on related business matters.”

“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 determine 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.”

“Form 990, part xii, line 2c: the organization has not changed the oversight or selection process during the tax year.”

“Part vii, section a is being amended to make the following corrections: add a missing officer, craig bowden, who was the interim ceo from october 2021 to may 2022. Lawrence ke xu also operated under the same capacity from october 2021 to may 2022 and his title was updated as well as the officer box checked. Cesia portillo was removed from part vii as she did not take on the interim ceo position until july 2022 (after the 6/30/22 year end).”

“Part ix statement of functional expenses is being amended to make the following corrections: update line 5 to add a missing officer, craig bowden, who was the interim ceo from october 2021 to may 2022. Update line 5 to add lawrence ke xu's fiscal year compensation as he also operated under the same capacity from october 2021 to may 2022. Cesia portillo was removed from line 5 as she did not take on the interim ceo position until july 2022 (after the 6/30/22 year end). Corresponding changes were made in lines 7-8 as needed.”

“The process has not changed from prior year.”