Elite Academic Academy - Lucerne

“The organization does not have any committees that 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. The discussion and compensation decision is documented contemporaneously.”

“Monitoring is performed regularly by the officers to identify potential conflicts of interest. Any question of a conflict is addressed with the interested person, such as board members, officers, or employees, 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 ceo's pay is determined based on data provided by comparison to other charter schools, public schools and nonprofits organizations through a third party compensation study conducted by an independent legal firm. The board must vote to approve the ceo's compensation as a direct action. The officers' pay is determined based on data provided by a separate third-party compensation study conducted by an independent legal firm, in addition to comparison studies of other public schools, charter schools and nonprofit organizations.. The board must vote to approve the officers' compensation as a direct action. The discussion and compensation decision is documented contemporaneously. The process described here was last completed in 2023.”

“The organization makes their governing documents available upon request.”

“Educational services: program service expenses 1,881,065. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,881,065. Back office fees: program service expenses 0. Management and general expenses 1,696,478. Fundraising expenses 0. Total expenses 1,696,478. Other fees for services: program service expenses 0. Management and general expenses 38,383. Fundraising expenses 0. Total expenses 38,383.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”