SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
LAKE NORMAN CHARTER SCHOOL
 
Employer identification number

58-2360164
Return Reference Explanation
FORM 990, PART VI, SECTION B, LINE 11 THE FINANCE COMMITTEE AND TREASURER REVIEW AND APPROVE THE FORM 990.
FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE FAMILIAR WITH THE CONFLICT OF INTEREST POLICY AND ARE REQUIRED TO DISCLOSE ANY ISSUES WHEN THEY JOIN THE BOARD. THE TREASURER REVIEWS MONTHLY VENDOR REPORTS FOR ANY POTENTIAL ISSUES WITH COMPANIES THAT EMPLOY BOARD MEMBERS.
FORM 990, PART VI, SECTION B, LINE 15 A MULTIPLE-STEP PROCESS IS USED TO SET COMPENSATION FOR THE MANAGING DIRECTOR. FIRST, MARKET DATA IS GATHERED FROM MULTIPLE EXTERNAL SOURCES. THE BOARD CONDUCTS A PERFORMANCE REVIEW AND GOALS AND EXPECTATIONS ARE SET FOR THE FOLLOWING SCHOOL YEAR. THE POLICY AND PERSONNEL COMMITTEE REVIEWS THE PERFORMANCE DOCUMENTS AND PRESENTS THEIR FINDINGS TO THE BOARD WITH A RECOMMENDATION FOR ANY COMPENSATION CHANGES. THE BOARD THEN VOTES ON THE RECOMMENDED CHANGES. WHEN THE POLICY AND PERSONNEL COMMITTEE PRESENTS THEIR RECOMMENDATIONS, THEY PROVIDE SUPPORTING MARKET COMPENSATION DATA. COMPENSATION OF LOCAL SCHOOL ADMINISTRATORS IS COMMON KNOWLEDGE AS THE RESULT OF MEDIA COVERAGE. FOR OTHER KEY EMPLOYEES, THE POLICY AND PERSONNEL COMITTEE GATHERS MARKET DATA USING THE SAME EXTERNAL SOURCES. THE MANAGING DIRECTOR CONDUCTS THE PERFORMANCE REVIEW AND PRESENTS ANY RECOMMENDED COMPENSATION CHANGES TO THE BOARD.
FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE UPON REQUEST.
PART XI, LINE 2C NO CHANGE IN NEITHER THE SELECTION PROCESS OR OVERSIGHT PROCESS.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2013

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