Davinci Academy of Arts & Science

“Each parent of a child at the school and each employee of the school has a vote for election of board members.”

“The Form 990 is prepared by an independent accounting firm. Once the Form is completed, it is given to management and the board treasurer for review before it is signed and filed. All members are not provided a complete Form 990.”

“Board members sign a conflict of interest policy statement annually. The board also reviews the conflict of interest policy annually and makes changes as necessary.”

“Each year, the DaVinci Academy board sets the compensation plan for the Executive Director (ED). Most years the board will collect information on salary ranges and compensation packages for directors of similar schools. The board also requests a self-assessment from the ED. Then the president of the board or the chair of the HR/Compensation committee will distribute a copy of the ED's job description, her self-assessment, and a performance evaluation survey to each board member. The survey collects information on the ED's performance in seven areas: 1. instruction and assessment 2. HR and personnel management 3. financial management 4. legal and compliance management 5. effective communication 6. board, authorizer, and community relationships 7. facility management. The ED's performance in each area is ranked on a scale of 1 (unsatisfactory) to 5 (outstanding), and comments of specific strengths and areas for improvement are also collected. Each individual board member's inputs are kept confidential. The president or HR chair collects the input, collates it into a single de-identified document, and then distributes that document to the board for review. The HR committee then develops a proposal for any changes to the ED's compensation package. That proposal is discussed at the board, revised as needed, and the ED's final compensation plan is then voted on for approval.”

“DaVinci Academy of Arts and Science makes its governing documents, conflict of interest policy and financial statements available to the public on their website and upon request.”

“Consulting Fees / Fees For Services : Program service expenses 338,269. Management and general expenses 0. Fundraising expenses 0. Total expenses 338,269. Non reimbursed SPED Costs : Program service expenses 7,650. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,650. Payments To Non-Ed Agency : Program service expenses 265,199. Management and general expenses 0. Fundraising expenses 0. Total expenses 265,199. Contracted Services : Program service expenses 178,399. Management and general expenses 0. Fundraising expenses 0. Total expenses 178,399. Field Trips : Program service expenses 32,988. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,988. Fed Sub Award SubCont <25000 : Program service expenses 26,501. Management and general expenses 0. Fundraising expenses 0. Total expenses 26,501. Event Admissions : Program service expenses 7,272. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,272. Fed Sub Award SubCont >25000 : Program service expenses 38,047. Management and general expenses 0. Fundraising expenses 0. Total expenses 38,047. State Special Ed Contract : Program service expenses 2,281. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,281. Board Per Diem : Program service expenses 0. Management and general expenses 1,982. Fundraising expenses 0. Total expenses 1,982. Consulting Fees / Fees For Services: Program service expenses 0. Management and general expenses 582. Fundraising expenses 0. Total expenses 582. General Supplies : Program service expenses 0. Management and general expenses 2,048. Fundraising expenses 0. Total expenses 2,048. Other fees-ProgServ-990 : Program service expenses 20,878. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,878.”

“The process has not changed from the prior year.”

“During the fiscal year ending June 30, 2019, changes in actuarial assumptions resulted in a significant reduction to the school's estimated pension liability, which created a "negative expense" of $1,228,001 for the current year.”