Milken Community Schools

“In november 2020, the organization made an amendment to their articles of incorporation. It was amended and restated to read as follows: the name of this corporation is milken community school.”

“The preparation and review process for the form 990 for the year ended june 30, 2021 included a number of discussions between the school's internal finance staff and the public accounting firm engaged to prepare the form 990 to review the school's activities and operations. In conjunction with the information obtained through the financial audit process and additional written inquiries specific to the exempt organization returns, information obtained through these discussions was used to ensure that the returns provide an accurate and transparent summary of the school's activities for the year. Once the preparation process was completed, draft returns were provided to the chief operating and financial officer, the controller and the internal accountant. All changes required as a result of that review were made and final returns were produced. The board's finance committee reviewed the form 990 prior to filing.”

“The conflict of interest policy applies to all board members, officers, and key employees. All potential conflicts are required to be reported to the head of the school or the board chair. Board members, officers, and key employees sign annual independence statements. The executive committee of the board, excluding the member with the potential conflict, is responsible for determining if a conflict exists. If a potential conflict exists with a board member regarding a specific transaction, the interested person is required to retire from the room and not participate in the deliberation or decision regarding the matter. The interested person will not be permitted to vote on the matter.”

“An independent committee performs market tests using survey data from nais and cal-isboa for similar positions before offering a salary. The committee also takes into account data from similar sized institutions in major urban areas and compares the data with california and local markets. The deliberation process is substantiated contemporaneously.”

“The organization does not make the governing documents, conflict of interest policy or financial statements available to the public. These documents are not required by federal or state law to be made available to the general public.”

“Loss on uncollectible contributions -859,443.”

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