Jackson Hole Classical Academy

“Board treasurer, stephen friess, and board secretary, polly friess, have a family relationship.”

“A draft copy of the form 990 was sent to the board members for their information and review prior to filing it with the irs.”

“The conflict of interest policy covers all directors, principal officers, and members of a committee with governing board delegated powers. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors or committee members whether the transaction or arrangement is in the organization's best interests, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement.”

“None of these documents are available to the public.”

“The consolidated financial statements of the academy as of and for the year ended june 30, 2021, reported adjustments to balances in the prior year to correct misstated balances related to the transfer of assets to the jackson hole classical academy foundation. Transfer of assets - $14,115,240 other prior period adjustments - $66,691”