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 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Name of the organization
High Point Academy
 
Employer identification number

55-0899587
Return Reference Explanation
Form 990, Part I, Line 1: To provide a strong foundation of academic excellence in partnership with family and community in which each individual is challenged to achieve his/her highest potential academically, socially & personally by operating a pre-k through 8th grade charter school.
Form 990, Part VI, Section A, line 8b No committees with authority to act on behalf of the board.
Form 990, Part VI, Section B, line 11b A copy of the Form 990 is given to all board members for their review prior to filing.
Form 990, Part VI, Section B, line 12c Members of the governing board are required to disclose any conflict of interest prior to any vote by the board involving a company or employee that the board member would have a conflict of interest. The board member is then required to abstain from the discussion and vote.
Form 990, Part VI, Section B, line 15a Anual salary surveys are obtained from the surrounding schools for similar positions. These comparisons are given to the board prior to making employment offers to the key employees.
Form 990, Part VI, Section C, line 19 The executive director makes the school's governing documents, conflict of interest policy, and financial information available to the public upon request.
Form 990, Part IX Line 24e: The school is a participant in the State's public pension plan (PERA) and began reporting a portion of the State's unfunded net pension liability following Governmental Accounting Standards Board Statement (GASB) No. 68 Accounting and Financial Reporting for Pensions - an amendment of GASB Statement No. 27 in fiscal year 2015. The School also participates in the State's Postemployment Healthcare Benefit Plan per GASB Statement 75. As a result of these GASB statements, the school records an expense in its Government Wide financial reports each year that swings widely from year to year based on future investment return assumptions, participation and other projections made by PERA's actuaries. Due to the unpredictable and uncontrollable nature of these swings, and that the liability is not a true liability of the school, these State driven accruals are reported as Other in Part IX to allow the reader to track the impact of these accruals separately and to remain consistent with historical reporting.
Form 990, Part XII, Line 2c: The board of directors oversees audit services and selection of independent auditors. This has not changed from the prior year.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019


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