Day 1 Academies

“Michael george is employed by a business entity in which another director holds a qualifying ownership interest. Accordingly, these two directors have a business relationship.”

“Members of day 1 academies have the right to elect and remove directors from the governing board, amend or restate the governing documents, and approve or veto major transactions, governing decisions, and annual operating plans and budgets. Day 1 academies has only a single class of member. Members are not entitled to share in the distribution of any of the corporate assets upon dissolution of the organization or the winding up of its affairs.”

“See disclosure for part vi, section a, line 6”

“See disclosure for part vi, section a, line 6”

“The form 990 is prepared by an independent third-party accountant. Before it is filed with the irs, it is reviewed in detail by chief finance officer and chief legal officer, general counsel.”

“The board has approved and adopted a conflict-of-interest policy. Under the policy, in connection with any actual or potential conflict of interest, the interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the board or an approval body delegated by the board to consider the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, the interested person shall leave the approval body meeting while the determination of a conflict of interest is investigated, discussed, and voted upon. After exercising due diligence, the approval body shall determine whether day 1 academies can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. The approval body shall determine by a majority vote of the disinterested approval body members whether the transaction or arrangement is in day 1 academies' best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, the approval body shall make its decision as to whether to enter the transaction or arrangement. The approval body shall document, among other items, the material facts, its review of the potential or actual conflict of interest transaction, and the outcome. Day 1 academies requires each officer and director to certify that they received a copy of the conflict-of-interest policy, they have read and understand the policy, and they agree to comply with the policy. Each officer and director must also submit periodic certifications to the general counsel about the existence of any actual or potential conflicts of interest.”

“In 2019, shortly before day 1 academies was incorporated, the board commissioned an expert compensation study from an independent firm, which specializes in executive placement and compensation consulting. The compensation study compiled comparability data based on top management officials with comparable responsibilities at a significant number of tax-exempt organizations. The board approved the president's salary based on this comparability data and the president's experience and skill set, and the board documented the basis for the determination. The board again commissioned the same independent firm to review updated comparability data based on comparable positions at comparable organizations in fall of 2024 when a new president was appointed. An approval body on behalf of the board approved the presdient's salary based on this comparability data set and documented the basis for the determination. In 2019, day 1 academies retained an independent compensation consulting firm to provide compensation studies based on comparability data from multiple sources and comparable organizations for all officers and key employees. An approval body - acting at the delegation of the board - approves salaries and documents the basis for the determination at the time of offer based on the information provided in these compensation studies as well as the individual candidate experience and skill set. Compensation studies for officers and key employees were first performed in july of 2019 to establish hiring ranges and subsequently when a position is hired for the first time or backfilled. The independent compensation consulting firm most recently conducted a review of day 1 academies' approach to executive compensation in 2024 and found the proposed total cash compensation package for the executive group falls within a reasonable range of competitive market practices applicable to like positions among like organizations under like circumstances. All employees, including officers and key employees, are eligible for an annual increase. Additional adjustments may be approved by the president based on performance, pay equity, and the comparability data provided by the independent compensation consulting firm.”

“The organization's governing documents, conflict of interest policy, and financial statements are not available to the public.”

“To operate tuition-free preschool programs to make education more accessible to underserved communities.”

“All children deserve the great start that an excellent preschool provides. Bezos academy aims to nurture the potential in every child to become a creative leader, original thinker, and lifelong learner by increasing access to early childhood education in underserved communities.”