Capital Preparatory Harlem Charter School

“The school entered into a management agreement with cps, a connecticut not-for-profit organization, to undertake on its behalf functions in regards to business, administrative and academic services to harlem. The school incurred $477,434 in management fees to capital preparatory schools, inc during fy18. Board member dr. Stephen perry, is an officer of the management organization, capital preparatory schools, inc. In 2017 cps paid dr. Stephen perry, ceo of cps, a base salary in the amount of $152,250 and other compensation in the amount of $146.”

“The board acted as a whole on all matters and no committee was appointed during the fiscal year.”

“Capital preparatory harlem charter school has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

“The school shares its conflict of interest policy with board members and officers as part of their regular meetings. Officers, directors, and key employees are expected to declare if at any point a conflict of interest arises. On an annual basis, each director, officer, and employee shall submit to the secretary a conflict statement disclosing potential conflicts of interest, if any, on a form provided by the corporation. No director shall discuss or vote on any matter in which he or she has or may have a conflict of interest. Any director for whom there may exist a conflict of interest shall refrain from discussion or vote on any such matter, and shall not be physically present in the room at the time any vote is taken thereon.”

“The board of trustees performs a comparative study of compensation and salaries with that of the region and other charter schools/organizations. The board also approves the compensation of the principals and officers through the annual budget process and approval of the annual budget. The discussions, deliberations and decision are recorded in the committee minutes. The process was last conducted in 2017.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request at 1 east 104th street, new york, ny 10029, or by calling the organization directly at (212) 328-9370.”