Brevard Innovative Charter School Inc

“The school is exempt from income taxes under section 501 (c)(3) of ht einternal revenue code and applicable state law. The school recognizes the financial statement effects from a tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the positionexamples of tax positions include the tax-exempt status of the chool and various positionss related to the potential sources of unrelated business taxable income. The school believes that all its tax positions are more likely than not to be sustained upon examination.”

“Organizations process to review form 990. A draft copy of the form 990 and required schedules prepared by the schools cpa is reviewed by the principal and accountant, then is submitted to board members and the audit committee by email, requesting reviw and submit questions and comments. The principal obtains responses to those who question and provides them to the cpa. Board and audit committee members are invited to attend a meeting to discuss the draft return and discuss the questions, responses, and comments to aprove the return for filling.”

“Enforcement of conflicts policy enforcement of conflicts policy. An annual disclosure statement is circulated to officers and certain identified key employees, but disclosure is required whenever conflicts of interest may occur. Written notices of disclosures are filed with the principal. At meetings of the board of directors, all disclosures of real or apparent conflict of interest are noted for the record in the minutes.”

“Governing documents disclosure explanation, corporate policies, and financial statements are available upon request at the schools administrative office”

“Compensation process for top official: the school principal has an annual performance review by the board of directors. The principal and assistant principal have been placed under the same raise and rating structure as instructors, with raises defined based on their rating from the state of florida.”