SCHEDULE O
(Form 990)

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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OMB No. 1545-0047
2022
Open to Public
Inspection
Name of the organization
The Oaks Academy Inc
 
Employer identification number

35-2050595
Return Reference Explanation
Form 990, Part VI, Line 11b Review of form 990 by governing body PROCESS TO REVIEW THE FORM 990: A COPY OF THE 990 IS PROVIDED TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING. THE FINANCE COMMITTEE OF THE BOARD WILL PERFORM A DETAILED REVIEW AND REPORT THEIR OPINION TO THE FULL BOARD AT THE NEXT BOARD MEETING. THE FORM 990 IS ALSO REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM.
Form 990, Part VI, Line 12c Conflict of interest policy PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INTEREST POLICY: THE CONFLICT OF INTEREST QUESTIONNAIRE IS PROVIDED ANNUALLY AT THE BOARD RETREAT. THE HEAD OF SCHOOL AND BOARD CHAIR REVIEW THE RESPONSES AND DETERMINE THE APPROPRIATE ACTION. ANY BOARD MEMBER WITH A CONFLICT OF INTEREST DOES NOT PARTICIPATE IN DECISION-MAKING OR VOTE ON THE RELATED TOPICS.
Form 990, Part VI, Line 15a Process to establish compensation of top management official REVIEW OF TOP MANAGEMENT AND OTHER OFFICER OR KEY EMPLOYEES COMPENSATION: USING COMPARABLE DATA FROM THE INDEPENDENT SCHOOLS ASSOCIATION OF THE CENTRAL STATES, THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE CEO'S COMPENSATION. THE LAST REVIEW WAS CONDUCTED IN MAY 2023. THE BUDGET, EXECUTIVE, AND FINANCE COMMITTEES REVIEW AND APPROVE OFFICER COMPENSATION. THE LAST REVIEW WAS CONDUCTED IN JULY 2023. THE CEO, CFO, AND FINANCE COMMITTEE ALSO EVALUATED COMPENSATION FOR KEY EMPLOYEES AND OTHER OFFICERS IN 2023. DISCUSSION OF COMPENSATION IS NOTED IN THE BOARD'S MINUTES. THE CEO, CFO, AND FINANCE COMMITTEE ALSO EVALUATED COMPENSATION FOR KEY EMPLOYEES AND OTHER OFFICERS IN 2023.
Form 990, Part VI, Line 15b Process to establish compensation of other employees REVIEW OF TOP MANAGEMENT AND OTHER OFFICER OR KEY EMPLOYEES COMPENSATION: THE COMPENSATION REVIEW PROCESS WAS USED FOR THE POSITIONS OF CEO, CFO, HEADS OF SCHOOL AND DIRECTOR OF ADVANCEMENT.
Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS: THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO ALL THOSE WHO AWARD THE ACADEMY A GRANT. AN ANNUAL REPORT IS COMPILED AND SENT OUT TO DONORS EACH FISCAL YEAR. GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. SCHOLARSHIP GRANTING ORGANIZATIONS CONTRIBUTIONS AND GRANTS: DURING THE YEAR, THE OAKS ACADEMY RECEIVED $6,067,390 FROM VARIOUS SCHOLARSHIP GRANTING ORGANIZATIONS. THE USE OF THESE FUNDS IS RESTRICTED TO STUDENT SCHOLARSHIPS AND PER FEDERAL LAW IS NOT RECOGNIZED AS CONTRIBUTION REVENUE THUS NOT REPORTED ON THE FORM 990. INDIVIDUALS CONTRIBUTING TO THE ORGANIZATION THROUGH THESE VEHICLES RECEIVE SPECIFIC TAX BENEFITS IN THE STATE OF INDIANA.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2022


Additional Data


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