Thurgood Marshall Academy

“Thurgood marshall academy used the following process to review the prepared form 990 before it was filed with the irs: (1) the chief operating officer (management) actively participated in the preparation of the form 990, providing information to and seeking feedback from the school's accountants and tax preparers for several weeks prior to filing; then, roughly one week prior to filing, (2) management (the coo and the executive director) reviewed the prepared form 990 prior to filing; and (3) the board of trustees was provided the prepared form 990 via electronic mail prior to filing.”

“Thurgood marshall academy monitors and enforces compliance with conflict of interest policies at both the board and staff levels. Members of the board comply with conflict of interest policies by annually responding to a survey that includes the policy, an affirmation that members will abide by it, and an opportunity to report any possible conflicts. A member of the board who is an attorney reviews the policies and develops a resolution to any potential conflicts. The policy states that board members are to report potential conflicts on an ongoing basis. Employees of the school received (and sign acknowledgement of) a personnel policy manual that includes an explicit prohibition of conflicts of interest and a requirement that any potential conflict be reported to the employee's supervisor. Supervisors resolve possible conflicts of interest or report the issue to their supervisors. The chief operating officer and executive director further monitor and enforce conflict of interest policies by actively supervising the school's contracts and financial transactions.”

“Thurgood marshall academy's determination of compensation for the executive director as well as for other employees included review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision. The compensation of the executive director (who is an employee and not a member of the board) was determined by the board of trustees, all of whom are independent of and have no family or business relation with the executive director. In reviewing and approving the executive director compensation, the board reviewed comparability data regarding pay of similar executives at comparable institutions and of general trends in the local employment market. They documented the deliberation and decision by retaining correspondence and research and through forms authorizing executive pay. The compensation of other staff was conducted by the executive director, who is independent of and has no family or business relationships with any employees. The executive director considered comparability data regarding pay scales for similar workers and the general local employment market, and documented deliberation and decisions in the work-papers of the annual budget approved by the board.”

“Thurgood marshall academy provides governing and financial documents to its authorizing body, the dc public charter school board, which provides public access to the documents as governed by district of columbia and federal law.”

“The executive committee of the thurgood marshall academy board of trustees is composed of the board chair (who presides), the vice-chair, the secretary, and the treasurer. The executive committee has the option to add an at-large member of the board to the committee. All members of the executive committee are also members of the board of trustees (the governing body). The executive committee is responsible for working in support of the full board. The work of the committee-to the extent permitted by district of columbia law-revolves around five major areas: (1) performing policy work as directed by the board, or when they affect the work of the executive committee; (2) acting as liaison to the chief executive; (3) helping develop a strategic plan; (4) conducting executive searches; and (5) addressing urgent issues to resolve an emergency or organizational crisis.”

“Thurgood marshall academy supports students' academic and personal development through programs including tutoring and specialized extracurricular programs. These programs draw upon volunteers from dc's professional community; the total number of volunteers is estimated at 300. For instance, one tutoring program alone sends roughly 70 students/week to several area law firms (estimate solely for this program is 5 firms/year x 20 volunteers/firm).”

“Due to the adoption of accounting standards update (asu) no. 2015-03, "simplifying the presentation of debt issuance costs," unamortized loan costs were calculated in the 2015 balance sheet figures (and have been reclassified @ $150,734 in the 2014 balance sheet figures to conform to the current year presentation) as a reduction of loan payable, long term portion.”