Global Impact STEM Academy

“The 990 is prepared through a contracted third party. Once the third party completes the 990 it is reviewed by the Treasurer of Global Impact STEM Academy. The treasurer then provides the governing Board a copy to review.”

“The policy is reviewed annually by the Board, Executive Director and Norm Burkhardt with Neola who we contract with to update our policies. All school policies are available for the public to view upon request and also available to the public online on Boarddocs.com. The annual financial statements are audited by the Ohio Auditor of State and are available on-line.”

“The Board reviews the Executive Directors performance and then determines and approves his annual salary based on results of the performance review. The review is discussed in executive session, but his compensation is approved in an open meeting.”

“All school policies are available for the public to view upon request and are posted online on Boarddocs for the public to access. The annual financial statements are audited by the Ohio Auditor of State and are available on-line at the Auditors website.”

“All workers of the Global Impact STEM Academy are employed by the Educational Service Center Council of Governments Council, EIN 26-3213462. All salaries and related benefits are paid and reported by the Council on the appropriate federal tax forms.The Council is a legally separate body politic and corporate served by an appointed five-member Board of Directors and meets the definition of regional council of governments under chapter 167 of the Ohio Revised Code. The Council primarily provides employment services to state and local governments as well as non-profit entities in Central Ofhio.”

“All workers of the Global Impact STEM Academy are employed by the Educational Service Center Council of Governments Council, EIN 26-3213462. All salaries and related benefits are paid and reported by the Council on the appropriate federal tax forms. The Council is a legally separate body politic and corporate served by an appointed five-member Board of Directors and meets the definition of regional council of governments under chapter 167 of the Ohio Revised Code. The Council primarily provides employment services to state and local governments as well as non-profit entities in Central Ohio.”

“The School paid a total of 4,363,755 to the Educational Center Council of Government ESCOG. These services include payroll, month-end accounting,accounts payable, accounts receivable, fiscal support, tax reporting,and general office support, EMIS and record keeping. The total of 4,363,755 is composed as follows 1 3,732,147 salaries and benefit related expenses, 2 631,608 as other services.”

“For fiscal year 2022, the School has implemented GASB Statement No 87, Leases, and GASB Implementation Guide 2019-3. These changes were incorporated in the Schools fiscal year 2022 financial statements. The School recognized 4,711,205 in leases payable at July 1, 2021 however, this entire amount was offset by the intangible assets, right to use assets - buildings.”