Ad Astra School

“Jared j. Birchall, secretary & treasurer, is the managing director of the musk family office, which operates for the benefit of elon musk and his family.”

“The school's governing body consists of a board of directors who have the right to participate in the school's governance. All board of directors have the same voting rights. The majority of the board of directors must vote on the removal of directors.”

“The form 990 was prepared by the school's accountant and reviewed by the president. At this time, the form 990 was reviewed in detail and approved for submission to the internal revenue service.”

“Each director, officer and member of a committee with board delegated powers shall sign a statement which affirms such person has no conflict of interest. To ensure that the corporation operates in a manner consistent with its charitable purposes and does not engage in activities that could jeopardize its tax exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. The reviews also include whether partnerships, joint ventures, and arrangements with management organizations conform to the corporation's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction.”

“The board of directors is responsible for staff development and compensation. The board conducts annual reviews of compensation and benefits, and compares compensation with data on compensation paid by comparable organizations. It is the school's policy to provide compensation that is above the median for comparable organizations, to more effectively attract and retain the highest quality employees. The members of the board of directors draw on their considerable business experience to appropriately evaluate and compensate key employees.”

“Ad astra school makes available to the public upon request the following governing documents: - internal revenue service tax determination letter - bylaws - filed form 990 for the two most recent fiscal years”

“Elon musk is a director of the school and a substantial contributor to the school. His five children currently attend the school. To avoid any concerns about private benefit, inurement, and any appearance of untoward personal benefit, all contributions by mr. Musk are treated as follows: the equivalent fair market value of the school's tuition is determined by the disinterested members of the board of directors on an annual basis, based on the average tuition rates of similar private schools in california. Contributions by mr. Musk up to the amount of such fair market vlaue of tuition are treated as tuition-equivalent payments for the benefit of his children that attend the school. These tuition-equivalent payments are considered program service revenue to the school, and mr. Musk will not claim a charitable deduction on his personal income tax returns for the amount of such payments. Any contributions by mr. Musk that exceed the equivalent value of tuition for his children are considered charitable contributions that are deductible for income tax purposes. The school will prepare written substantiation for mr. Musk's contributions reduced by the equivalent value of the school's tuition. Mr. Musk treats the tuition equivalent amount as a tuition payment. During the tax year, he paid $140,000 and paid the remaining $10,000 in the following tax year as soon as it was discovered. Mr. Musk has been advised of the rules regarding private benefit and inurement. To the extent any other disqualified persons have students in the school, the board of directors will follow the same policy and procedure.”

“The school currently charges tuition and it plans to award need-based scholarships to students accepted into the school, generally in the form of gifts. The school will publicize the availability of its scholarships through its brochures, its website, and during the initial family tour of the school. The school has not yet prepared solicitation or announcement materials. When it offers scholarships, the school will maintain adequate records and case histories as required under revenue ruling 56-304.”

“Attachment 1 ad astra is a school dedicated to the learning of high-achieving students in the greater los angeles area. The school serves students between the ages of 8-14, providing a singularly exceptional education experience. The main objective is to exceed traditional school metrics on all relevant subject matter through unique project-based learning experiences.”

“The school currently charges tuition.”

“Attachment 2 the school operates ad astra school in hawthorne, california, an independent elementary and middle school committed to educating highly gifted elementary and middle school students. The school serves qualified students by creating a world-class critical thinking curriculum, with a heavy emphasis on science, math, engineering, and ethics. The school's innovative approach emphasizes ability over age. Mixed-age student groups work together to deeply understand difficult questions and challenges to develop their potential. Educational content is project based, with the intent to create meaningful work for all students. The goal of the school is to develop remarkable people imbued with a strong sense of justice, who are equipped with the critical thinking skills necessary to make a difference. The content that enlivens each course is created anew each year for each group of students. The size of the student body is expected to grow slowly and, because of the intense staff to student ratio, will probably not exceed 60 students. The school is open to all high-performing students. The majority of the current student base is composed of children of spacex employees, but the school is open to all applicants, and the student base is expected to broaden after the school's website is more fully developed and its marketing and outreach efforts have fully ramped up.”

“Ad astra school has not changed its oversight process or selection process from the prior year.”