Kipp Memphis Inc.

“The sole member of the corporation shall be kipp foundation, a california corporation.”

“The charter and bylaws may be amended only by approval of both the sole member and the board of directors of the corporation. The sole member shall have the only vote at any meeting of the sole member. Any action which may be authorized or taken at a meeting of the sole member may be authorized or taken without a meeting, without prior notice and without a vote if a consent in writing, setting forth the action so taken, is signed by the sole member. Any such written consent shall be filed with or entered upon the records of the corporation.”

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the finance chair/treasurer for their review and approval prior to submitting to the irs.”

“A conflict of interest may exist when the interests or activities of any director, officer or staff member may be seen as competing with the interest or activities of this corporation, or the director, officer or staff member derives a financial or other material gain as a result of a direct or indirect relationship. Monitoring is performed regularly by the officers to identify potential conflicts of interest. Any question of a conflict is addressed with the interested person, who is required to disclose the existence of any financial interest and be afforded the opportunity to disclose all material facts to the board and executive director. If a conflict of interest is identified, the appropriate action is taken, including limitations to the individual's influence on related business matters.”

“The executive director's pay is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The executive board must vote to approve the executive director's compensation as a direct action. The officers and key employees' pay is determine based on data provided by external charter management organizations and through comparison studies of other charter schools. The executive board must vote to approve the officers and key employees' compensation as a direct action. Documentation is taken during the executive board meetings.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The process has not changed from prior year.”