Penfield Montessori Academy Inc

“Penfield children's center is their sole member per the articles of incorporation.”

“Penfield children's center is the sole member of the organization.”

“An internal review of the irs form 990 is performed by the appropriate finance staff and the pma board treasurer. The board of pma is then provided the completed form 990 for review and commentary prior to filing.”

“Board members and key personnel complete a conflict of interest disclosure form on an annual basis. Disclosures of possible conflicts of interest are reviewed by the cfo/vp of administration. The cfo/vp of administration notifies the president and chairman of the board of any situations that require their review. If a conflict of interest exists for any board discussion, the board member(s) will be recused from discussion and voting.”

“The chairman of the board and executive committee determine the president's compensation annually. The director of human resources also reviews the salary ranges each year based on market conditions and salary and wage guidance. In 2019, a full market study was done by mra for all staff. The board of pma approves the overall staff budget and the amount of any increases for staff (as applicable).”

“Documents are available upon request.”

“During fiscal year 2024, penfield montessori academy (pma) ceased operations following its closure at the end of june 2023. The primary focus for the fiscal year was on the orderly dissolution of the school and associated legal and financial responsibilities. All employees were formally laid off by the end of july 2023, and no new educational programming or student services took place during fy24. The organization initiated and carried out dissolution procedures, which included the sale of the school building held under a separate llc. These actions were overseen in compliance with regulatory and legal requirements. An independent consolidated financial audit was completed through december 2023 to ensure proper accounting of any final transactions. The audit recognized a small number of outstanding revenues and expenses related to the prior year's operations, including final vendor payments, professional service fees, and the receipt of closing grants or reimbursements. Overall, fy24 was dedicated to responsible financial and organizational closure, and no new programming, staffing, or enrollment activities were conducted. Action would be to close at the end of the 2022-2023 school year,”

“No change from prior year.”