Los Angeles Leadership Academy

“There is no committee that has the authority to act on behalf of the governing board.”

“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 irs and is later approved by the board of directors.”

“Monitoring is performed regularly by the officers to identify potential conflict of interest. All employees, officers, and directors are covered under the organization's conflict of interest policy. All designated employees are required to annually disclose potential conflicts, as well as when they arise. Monitoring is performed regularly by the officers to identify potential conflicts of interest. The board or designated committee reviews any conflicts presented by interested parties. The chairperson appoints a disinterested person or committee to investigate the transaction in question and report findings to the board. Alternatives to the proposed transaction are identified and compared to the proposed transaction. Any questions of a conflict are addressed with the designated employee, who is required to disclose the existence of any material financial interest and be afforded the opportunity to disclose all material facts to the board. The board votes on the most beneficial option for the organization. If the board has reason to believe an interested person has failed to disclose the potential conflict, the board will investigate further and if necessary, take appropriate disciplinary and corrective action. If a conflict of interest is identified, the organization will not enter into any contract or transaction in which a designated employee has a material interest. All deliberation and decisions are recorded in meeting minutes.”

“The hiring of the two principals is done initially by the executive director, who conducts an industry survey to set the salary, which in turn, is ratified by the board of directors. To determine the executive director's, director of finance, and chief operating officer's salaries, the board conducts industry surveys and approves pay scales for each position. The deliberation and decision are conducted contemporaneously at boardmeetings. The process described here was last completed in 2023.”

“The governing documents, conflict of interest policy and financial statements are available via e-mail, fax, and mail upon request; information is on the school website.”

“Other fees for services: program service expenses 222,991. Management and general expenses 1,056,332. Fundraising expenses 0. Total expenses 1,279,323. Consultants - instructional: program service expenses 1,232,685. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,232,685.”

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