Ilead Online Charter School

“The organization does not have a committee with the authority to act on behalf of the board.”

“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 board of directors for their review and approval prior to submitting to the irs.”

“The officers, directors, and the trustees are required to disclose all potential conflict of interests. The board reviews any conflicts presented by interested parties. The chairperson appoints a disinterested person or committee to investigate the transaction in question and report findings to the board. Alternatives to the proposed transaction are identified and compared to the proposed transaction. The board votes on the most beneficial option for the organization. If the board has reason to believe an interested person has failed to disclose the potential conflict, the board will investigate further and if necessary, take appropriate disciplinary and corrective action.”

“The compensation for officers, key employees, and the executive director is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the compensation for the officers, key employees, and the executive director as a direct action.”

“Documents are made available to the public upon request.”

“Other fees for services: program service expenses 331,997. Management and general expenses 375,646. Fundraising expenses 0. Total expenses 707,643.”