Streetcode Academy

“The tax accountant shall provide a draft of tax return along with audit report for the treasurer to review and comment. If there is no discrepancies the treasurer shall present to the board for approval before filing.”

“determining whether a conflict exists, after disclosure of the financial interest and all material facts, and after any discussion with the interested person, he or she shall leave the board meeting while the determination of a conflict of interest is discussed and voted on.”

“board of directors annually review and approve the compensation package of the director using comparable pay data of similarly sized organizations in the industry.”

“governing documents are made available to the public upon request and will be furnished at reasonable cost for any postage and copying required.”

“The Organization's originally filed 2023 Tax Return had incorrect amounts entered on Part IX Line 6 and 7(A-D). The amendment is being made to correct the amounts entered for Line 6 and 7(A-D). The amendment is also correcting the CEO's compensation on Schedule J Part II to the correct amount per IRS instructions. Original file was using the 2024 W-2 amounts, where it should have been the 2023 W-2 amounts. Form 990, PART VI, Line 8b is also being corrected to "Yes". No other changes to the amounts are being made.”

“The Organization is correcting a clerical error on Part XII, Line 1. While previous filings (prior to 2023) inadvertently indicated 'Cash' as the accounting method, the Form 990 has consistently been prepared using the accrual basis of accounting. This update correctly aligns the reporting checkbox with the Organizations books and records. No adjustments to the financial data or reporting amounts are required as a result of this correction.”

“The Organization paid reasonable compensation to members of the CEO's family. The total amount of compensation paid to them was $141,779 for the 2023-2024 fiscal year. Due to their familial relationship with the CEO, the amounts are classified as Compensation to "disqualified persons" on Form 990, Part IX, Line 6(A) and (B). The amounts were primarily paid to the Spouse of the CEO, who was responsible for Program Innovation and Implementation. The compensation amounts were reviewed and approved by an independent board based on comparative pay information available at the time in the market. The required disclosure amounts are also presented on schedule L part IV. Family of the CEO that was paid under the required reporting thresshold of $10,000 were not listed on Schedule L part IV as per the form reporting instructions.”