TY 2018 Form 990 Schedule O

efile Public Visual Render ObjectId: 202031369349303458 - Submission: 2020-05-15 TIN: 61-1677994

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.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2018

Open to Public
Inspection

Name of the organization

VENTURE ACADEMIES

Employer identification number

61-1677994

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 1	THE EXECUTIVE COMMITTEE SHALL AT TIMES BE SUBJECT TO THE DIRECTION AND CONTROL OF THE BOARD, AND ANY ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE FULL BOARD AT THE NEXT BOARD MEETING. THE FOUR OFFICERS SERVE AS THE MEMBERS OF THE EXECUTIVE COMMITTEE. EXCEPT FOR THE POWER TO AMEND THE ARTICLES OF INCORPORATION AND BYLAWS, THE EXECUTIVE COMMITTEE SHALL HAVE ALL THE POWERS AND AUTHORITY OF THE BOARD IN THE INTERVALS BETWEEN MEETINGS OF THE BOARD, AND IS SUBJECT TO THE DIRECTION AND CONTROL OF THE FULL BOARD.
FORM 990, PART VI, SECTION A, LINE 7A	ANY STAFF MEMBERS EMPLOYED AT THE SCHOOL, INCLUDING TEACHERS, AND ALL PARENTS AND LEGAL GUARDIANS OF STUDENTS ENROLLED AT THE SCHOOL ARE ELIGIBLE TO VOTE FOR THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION A, LINE 7B	CHANGES TO THE BYLAWS REQUIRE THE APPROVAL OF THE TEACHER STAFF.
FORM 990, PART VI, SECTION B, LINE 11B	THE SCHOOL'S FINANCE COMMITTEE REVIEWS THE FORM 990 IN DETAIL WHEN THE RETURN IS COMPLETE. ALL MEMBERS OF THE BOARD WILL RECEIVE A COPY OF THE RETURN PRIOR TO FILING WITH THE IRS, BUT NOT AFTER CHANGES ARE MADE.
FORM 990, PART VI, SECTION B, LINE 12C	EACH BOARD MEMBER, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A CONFLICT OF INTEREST STATEMENT. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD AND MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. ALL DELIBERATIONS AND DECISIONS INVOLVING CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES.
FORM 990, PART VI, SECTION B, LINE 15	THE BOARD UNDERTAKES A COMPARISON OF COMPENSATION OF EXECUTIVE DIRECTORS IN THE TWIN CITIES IN COMPARABEL SIZE AND PROGRAM.
FORM 990, PART VI, SECTION C, LINE 19	VENTURE ACADEMY ACCEPTS REQUESTS IN WRITING OR ELECTRONICALLY FOR VIEWING OF DOCUMENTS THAT ARE DEEMED PUBLIC INFORMATION. MUCH OF THIS INFORMATION IS AVAILABLE AT BOARD MEETINGS FOR REVIEW.

Return Reference

Explanation

FORM 990, PART VI, SECTION A, LINE 1

THE EXECUTIVE COMMITTEE SHALL AT TIMES BE SUBJECT TO THE DIRECTION AND CONTROL OF THE BOARD, AND ANY ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE FULL BOARD AT THE NEXT BOARD MEETING. THE FOUR OFFICERS SERVE AS THE MEMBERS OF THE EXECUTIVE COMMITTEE. EXCEPT FOR THE POWER TO AMEND THE ARTICLES OF INCORPORATION AND BYLAWS, THE EXECUTIVE COMMITTEE SHALL HAVE ALL THE POWERS AND AUTHORITY OF THE BOARD IN THE INTERVALS BETWEEN MEETINGS OF THE BOARD, AND IS SUBJECT TO THE DIRECTION AND CONTROL OF THE FULL BOARD.

FORM 990, PART VI, SECTION A, LINE 7A

ANY STAFF MEMBERS EMPLOYED AT THE SCHOOL, INCLUDING TEACHERS, AND ALL PARENTS AND LEGAL GUARDIANS OF STUDENTS ENROLLED AT THE SCHOOL ARE ELIGIBLE TO VOTE FOR THE BOARD OF DIRECTORS.

FORM 990, PART VI, SECTION A, LINE 7B

CHANGES TO THE BYLAWS REQUIRE THE APPROVAL OF THE TEACHER STAFF.

FORM 990, PART VI, SECTION B, LINE 11B

THE SCHOOL'S FINANCE COMMITTEE REVIEWS THE FORM 990 IN DETAIL WHEN THE RETURN IS COMPLETE. ALL MEMBERS OF THE BOARD WILL RECEIVE A COPY OF THE RETURN PRIOR TO FILING WITH THE IRS, BUT NOT AFTER CHANGES ARE MADE.

FORM 990, PART VI, SECTION B, LINE 12C

EACH BOARD MEMBER, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A CONFLICT OF INTEREST STATEMENT. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD AND MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. ALL DELIBERATIONS AND DECISIONS INVOLVING CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES.

FORM 990, PART VI, SECTION B, LINE 15

THE BOARD UNDERTAKES A COMPARISON OF COMPENSATION OF EXECUTIVE DIRECTORS IN THE TWIN CITIES IN COMPARABEL SIZE AND PROGRAM.

FORM 990, PART VI, SECTION C, LINE 19

VENTURE ACADEMY ACCEPTS REQUESTS IN WRITING OR ELECTRONICALLY FOR VIEWING OF DOCUMENTS THAT ARE DEEMED PUBLIC INFORMATION. MUCH OF THIS INFORMATION IS AVAILABLE AT BOARD MEETINGS FOR REVIEW.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2018

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