| Return Reference | Explanation |
|---|---|
| FORM 990, PART I, QUESTION 5, AND PART V, QUESTION 2A: | THE ORGANIZATION CONTRACTED WITH A PROFESSIONAL EMPLOYER ORGANIZATION (PEO) FOR SERVICES, INCLUDING BUT NOT LIMITED TO, PAYROLL, TIMEKEEPING, EMPLOYEE BENEFITS, HR ADMINISTRATION AND WORKFORCE REGULATORY COMPLIANCE NEEDS. AS THE EMPLOYER OF RECORD FOR TAX PURPOSES, FORMS W-2 AND W-3 ARE ISSUED BY THE PEO AND FILED UNDER THE PEO'S FEDERAL EIN. IN THIS CO-EMPLOYMENT ARRANGEMENT, THE ORGANIZATION IS THE COMMON LAW EMPLOYER AND, ACCORDINGLY, COMPENSATION IS REPORTED ON FORM 990, PART VII, SECTION A AND PART IX, LINES 5-10. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY THE PROFESSIONAL ACCOUNTING FIRM, AND REVIEWED BY THE ORGANIZATION'S HEAD OF FINANCE. THE FORM 990 IS THEN PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY WHICH COVERS ALL EMPLOYEES, OFFICERS AND OTHER MEMBERS OF THE EXECUTIVE COMMITTEE OF NATAS OR PERSON WHO IS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE AFFAIRS OF NATAS, IF SUCH PERSON HAS A DIRECT OR INDIRECT CONFLICT. ALL MATERIAL FACTS CONCERNING ANY SITUATION THAT MIGHT BE VIEWED AS A CONFLICT SHOULD BE DISCLOSED TO THE AUDIT COMMITTEE WHO DETERMINES IF A CONFLICT OF INTEREST EXISTS BY THE INTERESTED PERSON CONCERNED. THE INTERESTED PERSON MUST RECUSE HIMSELF OR HERSELF FROM ANY DISCUSSION MAKING RELATED TO THE POTENTIAL CONFLICT AFTER PRESENTATION OF THE RELEVANT FACTS. ANNUALLY EACH MEMBER OF THE BOARD OF TRUSTEES AND EACH OFFICER SHALL DISCLOSE IN WRITING ANY CONFLICTS OF INTEREST THAT MAY AFFECT THE ORGANIZATION. |
| FORM 990, PART VI, SECTION B, LINE 15A | COMPENSATION FOR THE PRESIDENT/CEO IS REVIEWED AND DETERMINED BY THE EXECUTIVE COMMITTEE (BOARD). THE EXECUTIVE COMMITTEE USES VARIOUS SOURCES FOR COMPARABLE DATA, SUCH AS OTHER SIMILAR NON-PROFIT ORGANIZATIONS. THE PROCESS AND APPROVAL WERE DOCUMENTED. A REVIEW OF THE CEO COMPENSATION IS CURRENTLY BEING DISCUSSED AND ON THE DOCKET TO BE VOTED ON AT THE DEC 2024 MEETING. NEW BY-LAWS WERE APPROVED BY THE BOARD OF TRUSTEES IN JUNE 2023. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE ALSO AVAILABLE UPON WRITTEN REQUEST. |
| FORM 990, PART VI, SECTION A: | THE BOARD OF TRUSTEES DELEGATED BROAD GOVERNING AUTHORITY TO AN EXECUTIVE COMMITTEE PER THEIR BYLAWS. THE EXECUTIVE COMMITTEE IS THE GOVERNING BODY OF THE ACADEMY AND THE BOARD OF TRUSTEES ARE THE VOTING "MEMBERS". |
| FORM 990, PART XII, LINE 2C: | THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
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