Mastery Schools of Camden Inc

“The school has no committees with authority to act on behalf of the governing body.”

“The form 990 is prepared by an independent accounting firm. The board of trustees reviews the form 990 before it is submitted to the internal revenue service.”

“Occasions may arise when a trustee or an officer of the corporation has a financial interest or has a familial relationship with a person who has a financial interest in a transaction involving the corporation. In such cases, it is the policy of the corporation and of its board that: (a) any material facts as to such financial interest shall be disclosed by such interested trustee or officer to the board. (b) the trustee or officer having such financial interest in any matter shall not vote or use any personal influence with regard to the matter (except that he or she may state a position on the matter and respond to questions about it); however, such interested trustee or officer may be counted in determining the quorum for the meeting at which the matter is voted upon. At the board's discretion, the interested trustee or officer shall leave the meeting room during discussion and voting on the matter subject to the conflict of interest. The minutes of the meeting shall reflect that the disclosure was made and that such trustee or officer abstained from voting. (c) in addition to the foregoing provisions in this article, trustees must also abide by the new jersey school ethics act, n.j.s.a. 18a:12-23.1 all board members and officers are required to annually disclose sources of income to the state of new jersey.”

“The school does not have any compensated individuals that meet the internal revenue service definition of top management official, officer or key employee.”

“Mastery schools of camden's governing documents, conflict of interest policy and financial statements are available upon request.”

“Aftercare: program service expenses 0. Management and general expenses 202,665. Fundraising expenses 0. Total expenses 202,665. Paraprofessionals: program service expenses 1,825,930. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,825,930. Professional services: program service expenses 3,765,065. Management and general expenses 19,693. Fundraising expenses 0. Total expenses 3,784,758. Emotional support: program service expenses 36,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 36,000. Substitute teachers: program service expenses 909,419. Management and general expenses 0. Fundraising expenses 0. Total expenses 909,419. Custodial services: program service expenses 1,840,176. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,840,176.”

“Cumulative effect of the changes related to the adoption of gasb 101 -943,130.”

“The board of trustees assumes responsibility for oversight of the audit of its financial statement and the selection of an independent accountant.”