Accelerated Schools of Denver

“Candidates for director may be nominated by either the board of directors or a committee established by the board for such purpose at the regular annual meeting. Directors shall be elected or reelected by the board of directors at the annual meeting. Any and all directors may be removed with or without cause, at a meeting expressly called for that purpose, by a vote of 2/3 of all directors then in office and entitled to vote at an election of directors.”

“Form 990 is made available to the board of directors prior to the filing of the return. The return is reviewed and approved by the executive director.”

“Each year the officers and directors of the company are required to sign an annual statement affirming they have 1) received a copy of the conflicts of interest policy; 2) have read and understand the policy; 3) agree to comply with the policy; and 4) understand that accelerated schools is an educational organization and in order to maintain its federal tax exemption must engage primarily in activities that accomplish one or more of its tax exempt purposes. Conflicts of interest are reviewed by the board of directors and the conflicts of interest policy is applicable to the directors, principal officers and members of committees with governing board delegated powers (and any party related to a director, principal officer or committee member) who has a direct or indirect financial interest as the term is defined in the policy. Persons with a conflict are prohibited from participating in the governing body's decisions in any related transaction.”

“Compensation for the executive director of accelerated schools is reviewed and approved by the board of directors of which the executive director is not a member. In determining the compensation of the executive director, the board of directors reviews, to the extent practicable, comparable compensation for similarly qualified individuals in functionally comparable organizations and keeps contemporaneous documentation of the decision regarding the compensation arrangement.”

“The organization makes its governing documents inclulding the conflicts of interest policy and financial statements available to the public upon request or via public inspection at the organization's office. Items are also available at guidestar.org.”

“The prior period adjustment of (27,734) is due to a liability that corresponds to a trust account held by the school on behalf of the students. In prior years, the liability was understated.”