Invictus Academy Inc.

“There are no committees with the authority to act on behalf of the governing body.”

“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.”

“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 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 board must vote to approve the officers and key employees' compensation as a direct action.”

“AVAILABLE UPON REQUEST”

“Special education contract instructors: program service expenses 358,302. Management and general expenses 0. Fundraising expenses 0. Total expenses 358,302. Consultants - non instructional: program service expenses 0. Management and general expenses 25,394. Fundraising expenses 0. Total expenses 25,394. Service 16: program service expenses 12,806. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,806. Payroll fees: program service expenses 0. Management and general expenses 2,383. Fundraising expenses 0. Total expenses 2,383. Consultants - instructional: program service expenses 1,968. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,968. Student health services: program service expenses 471. Management and general expenses 0. Fundraising expenses 0. Total expenses 471.”

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