Monument Academy Public Charter School

“The academy made the following changes to its bylaws in june 2015: member change: the monument academy foundation will be the sole member of monument pcs. The foundation is a 501(c)(3) charity organized to support monument pcs and charter school education. Emily bloomfield is a trustee of the foundation along with others. Election of directors: as before, each year monument pcs prepares a slate of directors for empty or expiring terms and those directors will be presented to the foundation at a membership meeting for election. New is that up to two seats on the monument pcs board may be held by persons who are trustees of the foundation. Chair of the board: neither the president/ceo nor any person who is a trustee of the foundation may be chair of the monument pcs board. Removal of a trustee. The foundation has agreed to limit its right to remove a director without cause and will only act to do so if a majority of the monument pcs board asks the foundation to do so. This will give monument pcs the ability to remove a board member who is not acting in the schools' best interest more readily than the board's power under dc law. President/ceo: the president/ceo will be a non-voting member of the board. Until december 31, 2016 (or a longer period agree to by the pcsb), the president/ceo may be a trustee of the foundation. After that time, there will not be an overlap of the president/ceo and trustees of the foundation.”

“The monument academy foundation will be the sole member of monument pcs. Two seats on the monument pcs board may be held by persons who are trustees of the foundation.”

“The foundation has limited right to remove a director.”

“The organization's form 990 is reviewed by the ceo and the board prior to approval and submission.”

“The school has a written process to ensure no conflict of interest before the board vote on each contract.”

“The governing documents, conflict of interest policy, financial statements and 990 are made available to the public upon request and are available on the organization's website.”

“Contracted staff/consulting: program service expenses 153,189. Management and general expenses 29,933. Fundraising expenses 0. Total expenses 183,122. Fundraising expense: program service expenses 0. Management and general expenses 0. Fundraising expenses 1,285. Total expenses 1,285.”

“The school was in its planning year from july 1, 2014 through june 30, 2015. Students began attending the school in august 2015. Therefore, employee compensation values reported in the w-2 and 1099 tax forms for calendar year 2014 differ significantly from the employee compensation reported for the fiscal year ending 6/30/15.”