Orenda Education

“The federal form 990 was prepared by randy walker & co. A copy of the federal form 990 was presented to orenda charter school for approval. After approval, the form was submitted to the internal revenue service.”

“The conflict of interest policy is monitored and enforced through the annual completion of a conflict of interest form.”

“The process includes comparability data by reviewing education service center region 12 texas district salary and compensation surveys and comparing salary scales of surrounding school districts as well as texas workforce commission salary guidelines.”

“Financial statements are posted on our district website. Documents and policies are available upon request.”

“Orenda education 2951 williams drive georgetown, tx 78628 employer identification number: 74-2774612 for the year ending august 31, 2022 orenda education is making the de minimis safe harbor election under reg. Sec. 1.263(a)-1(f).”

“The organization's obligations under bonds payable include taxable education revenue bonds (series 2011q) issued through the texas public finance authority charter school finance corporation. These bonds are dated december 1, 2011. The series 2011q bonds closed and funded on december 1, 2011, with all proceeds being held by the bank of texas. The bonds' proceeds will be used for property acquisition and construction at the gateway college preparatory campus and were underwritten by piper jaffray & co. The interest rates on the bonds range from 7.25% to 8%, and the terms of the bonds range from nine to thirty years. The organization's bond obligations also include education revenue refunding bonds (series 2015a). These bonds closed and funded on august 20, 2015, with all proceeds being held by bank of texas. The bonds' proceeds will be used for expansion of the gateway college preparatory campus. The bonds were underwritten by oppenheimer & co. The interest rates on the bonds range from 1% to 4%, and the terms of the bonds range from four to twenty-nine years. The organization's bond obligations also consist of education revenue bonds (series 2017) issued through the newark higher education finance corporation. These bonds closed and funded on june 20, 2017, with all proceeds being held by bank of texas. The bonds' proceeds will be used for expansion of the gateway college preparatory campus. The bonds were underwritten by oppenheimer & co. The interest rates on the bonds range from 3% to 5%, and the term of the bonds is thirty years. The bond issue included a premium of $621,203. As of august 31, 2022, the outstanding balance on bonds payable was $41,145,000 consisting of bonds payable - current portion of $660,000 and bonds payable - long-term of $39,197,367. As of august 31, 2021, the outstanding balance on bonds payable was $41,780,000, consisting of bonds payable - current portion of $635,000 and bonds payable - long-term of $39,768,097. As of august 31, 2022, and 2021, issuance costs paid for these bonds at date of issuance totaled $1,287,633 and $1,376,903, respectively. Amortization expense related to these costs during the years-ended august 31, 2022 and 2021 was $89,269 and $156,071, respectively.”

“The organization's process for assuming responsibility for oversight of the audit, review, or compilation of its financial statements and the selection of an independent auditor have not changed from the prior year.”

“The consolidated financial statements include the activity for orenda education (the charter holder) and orenda charter school (the school). For tax purposes, the entities file under a single employer identification number [74-2774612] as orenda education.”