2017-01-25T08:03:12-05:00 2016-06-30 462108854 KENDALL PREBOLA AND JONES LLC PO BOX 259 BEDFORD PA 155220259 990 2015-07-01 522103442 THE NEXT STEP PUBLIC CHARTER SCHOOL NEXT 2023192249 3047 15TH STREET NW WASHINGTON DC 20009 JULIE MEYER EXECUTIVE DIRECTOR 2023192249 2017-01-19 true RICHARD M JONES CPA P00621721 8146231880 2017-01-19 X 2015 2021-01-29 14:40:06Z JULIE MEYER 3047 15TH STREET NW WASHINGTON DC 20009 9037027 false X WWW.NEXTSTEPPCS.ORG X 1998 DC TO PROVIDE STUDENTS WHO FACE EXTRAORDINARY CHALLENGES AND WHO ARE NOT SUPPORTED IN TRADITIONAL HIGH SCHOOLS THE OPPORTUNITY TO CONTINUE THEIR EDUCATION. 11 11 94 80 0 320707 643357 7701351 7792395 7430 21997 81718 75179 8111206 8532928 8980 5979 0 3272374 4198398 0 1934 1819763 2096705 5101117 6301082 3010089 2231846 17207065 19276429 8307852 8349690 8899213 10926739 X TO PROVIDE STUDENTS WHO FACE EXTRAORDINARY CHALLENGES AND WHO ARE NOT SUPPORTED IN TRADITIONAL HIGH SCHOOLS THE OPPORTUNITY TO CONTINUE THEIR EDUCATION. false false 5845585 5979 7792395 THE CHARTER SCHOOL OFFERS STUDENTS THE SUPPORT, KNOWLEDGE AND SKILLS THEY NEED TO SUCCEED ACADEMICALLY AND PROFESSIONALLY. THE CHARTER SCHOOL OFFERS ADULT BASIC EDUCATION AND GED PREPARATION IN ENGLISH AND SPANISH AS WELL AS ENGLISH FOR SPEAKERS OF OTHER LANGUAGES (ESOL) TO DISTRICT YOUTH BETWEEN THE AGES OF 16 AND 24. THE CHARTER SCHOOL OFFERS A FULL-TIME DAY PROGRAM AND A PART-TIME NIGHT PROGRAM, WHICH RUNS FROM SEPTEMBER THROUGH AUGUST, ENROLLING THREE TIMES EACH YEAR. WITH A BILINGUAL STAFF (ENGLISH AND SPANISH) AND WRAP-AROUND CASE MANAGEMENT, THE CHARTER SCHOOL PROVIDES A SAFE AND NURTURING ENVIRONMENT THAT SUPPORTS STUDENTS AND THEIR FAMILIES. THE CHARTER SCHOOL'S CURRICULUM IS BASED ON THE COMMON CORE STANDARDS. TEACHERS INDIVIDUALIZE INSTRUCTION TO HELP STUDENTS ACHIEVE THEIR ACADEMIC GOALS AT THEIR OWN PACE. THE CHARTER SCHOOL PLACES STUDENTS BY SKILL LEVEL, RATHER THAN AGE OR GRADE, AND PROMOTES STUDENTS ACCORDING TO THEIR PROGRESS. WHEN STUDENTS COMPLETE THEIR PROGRAM OF STUDY, THE CHARTER SCHOOL COLLEGE AND CAREER READINESS PROGRAM ASSISTS STUDENTS AND ALUMNI WITH CONTINUED EDUCATION AND CAREER PLANNING. THE SCHOOL CURRENTLY SERVES A POPULATION OF 396 STUDENTS. SERVICES ADULT BASIC EDUCATION - TNSPCS OFFERS LITERACY, NUMERACY AND OTHER ACADEMIC CONTENT AT ALL LEVELS OF ABILITY TO STUDENTS, IN BOTH ENGLISH AND SPANISH, WITH PLACEMENT BASED UPON PRE-TESTS. GED PREPARATION - THE CHARTER SCHOOL OFFERS STUDENTS WHO TEST ABOVE THE 8TH GRADE LEVEL THE PREPARATION, GUIDANCE AND SUPPORT NECESSARY TO PASS THE EXAM TO ATTAIN THE GENERAL EDUCATION DEVELOPMENT (GED) CERTIFICATE IN ENGLISH OR SPANISH. STUDENTS IN DAY AND NIGHT SCHOOL STUDY GED CONTENT AND SKILLS IN THEIR CLASSES, AND MUST PASS A PRELIMINARY PRACTICE TEST BEFORE THEY TAKE THE OFFICIAL EXAM. THE CHARTER SCHOOL OFFERS FINANCIAL ASSISTANCE TO THOSE STUDENTS WHO PASS THE PRACTICE TEST WHEN THEY REGISTER FOR THE OFFICIAL GED. ENGLISH LANGUAGE LEARNERS - THE CHARTER SCHOOL OFFERS ESOL CLASSES TO ENGLISH LANGUAGE LEARNERS (ELLS) IN DAY AND NIGHT SCHOOL. STUDENTS LEARN THE LANGUAGE SKILLS THAT WILL ENABLE THEM TO NAVIGATE EFFECTIVELY WITHIN THEIR SCHOOL, THEIR COMMUNITY, AND THE WIDER WORLD. LIFE SKILLS - THE CHARTER SCHOOL OFFERS INTERACTIVE WORKSHOPS ADDRESSING SEXUAL HEALTH EDUCATION, SUBSTANCE ABUSE, FINANCIAL LITERACY, IMMIGRATION AND CULTURAL ADAPTATION, AND COMMUNITY INVOLVEMENT. TEACHERS ENCOURAGE STUDENTS TO DEVELOP THEIR ABILITIES IN SUCH ACADEMIC LIFE SKILLS AS GOAL- SETTING, ORGANIZATION, INITIATIVE AND SELF-ADVOCACY, INDEPENDENT WORK AND COLLABORATION WITHIN EACH CLASS. COLLEGE AND CAREER READINESS- THE CCR PROGRAM IS DESIGNED TO HELP CHARTER SCHOOL STUDENTS AND ALUMNI MAKE AND IMPLEMENT SHORT AND LONG-TERM PLANS FOR POST-SECONDARY AND VOCATIONAL PATHS. TWO FULL-TIME CCR SPECIALISTS PROVIDE WORKSHOPS ON JOB READINESS SKILLS (RESUME-WRITING, INTERVIEWING, ETC.), MANAGE THE DUAL ENROLLMENT PROGRAM WHEREBY STUDENTS TAKE COURSES AT TWO LOCAL COLLEGES WHILE ENROLLED AT TNSPCS AND OFFER GUIDANCE ON COLLEGE, EMPLOYMENT AND VOCATIONS, AS WELL AS HELP STUDENTS ACCESS FINANCIAL RESOURCES TO CONTINUE THEIR EDUCATION. STUDENT SUPPORT SERVICES- CASE MANAGERS COMPLETE AN IN-DEPTH NEEDS ASSESSMENT OF EACH STUDENT TO EVALUATE WHAT SOCIAL, PHYSICAL AND EMOTIONAL SUPPORTS WILL ENABLE THE STUDENT TO GROW ACADEMICALLY. CASE MANAGERS COUNSEL STUDENTS AND HELP THEM ACCESS APPROPRIATE SOCIAL SERVICES. SSS OFFERS MENTAL HEALTH COUNSELING AS WELL AS ATTENDANCE MONITORING AND TRANSPORTATION ASSISTANCE, IN ADDITION TO EXTENSIVE REFERRALS FOR OUTSIDE SERVICES. EVERY STUDENT IS ASSIGNED A CASE MANAGER WHEN THEY ENROLL AT THE NEXT STEP. THE DEPARTMENT IS MADE UP OF SOCIAL WORKERS, CASE MANAGERS, ATTENDANCE AND TRANSPORTATION COORDINATORS AND A RESOURCE AND ENRICHMENT COORDINATOR. EACH OF THESE SERVICE PROVIDERS WORKS WITH STUDENTS INDIVIDUALLY AND COLLECTIVELY TO IDENTIFY ANY AREAS OF THEIR PSYCHOSOCIAL FUNCTIONING THAT REQUIRE SUPPORT. TUTORING PROGRAM/VOLUNTEERS - BOTH PAID AND VOLUNTEER TUTORS ARE AN ESSENTIAL PART OF THE CHARTER SCHOOL PROGRAM, AND THEIR INVOLVEMENT ALLOWS INDIVIDUALIZED INSTRUCTION FOR STUDENTS, ENABLING STUDENTS TO PROGRESS AT THEIR OWN PACE. TUTORS WORK DURING THE DAY AND NIGHT SCHOOL AS CLASSROOM AIDES, OR AS ONE-ON-ONE TUTORS WITH STUDENTS IN THE FOLLOWING SUBJECTS: ESOL, READING AND LANGUAGE ARTS, AND MATH. BILINGUAL TUTORS ARE ALSO AVAILABLE. FOOD PROGRAM - THE CHARTER SCHOOL PROVIDES A FREE BREAKFAST, LUNCH AND DINNER PROGRAM IN ACCORDANCE WITH FEDERAL LAW AND THE U.S. DEPARTMENT OF AGRICULTURE (USDA) POLICY. 5845585 true true false false false false false false false false true false false false true true true false true false false false false false false false false false true false true false false false false false false false false false false false false false false false false false false false true 31 0 94 true false false false false false false false false false false X 11 11 false false false false false false false true true false false true true true true true true true false false X X TAUNYA MELVIN 2023192249 3047 15TH STREET NW WASHINGTON DC 20009 RACHEL SUSSMAN CHAIRPERSON 4.00 X X 0 0 0 JORGE ESTRADA TREASURER 2.00 X X 0 0 0 KAREN BURKES SECRETARY 2.00 X X 0 0 0 ELEONOR VELASQUEZ DIRECTOR 2.00 X 0 0 0 CELINE FEJERAN DIRECTOR 2.00 X 0 0 0 NATALIE ECKFORD DIRECTOR 2.00 X 0 0 0 RITIJA GUPTA DIRECTOR 2.00 X 0 0 0 JEFFREY NOEL DIRECTOR 2.00 X 0 0 0 WILL RAGLAND DIRECTOR 2.00 X 0 0 0 ROXANA PEREZ DIRECTOR 2.00 X 0 0 0 TONITA GALLOWAY DIRECTOR 2.00 X 0 0 0 EDUARDO FERRER BOARD CHAIR 2.00 X 0 0 0 TOM ADKINS VICE CHAIR O 2.00 X 0 0 0 HANK BROTHERS SECRETARY OU 2.00 X 0 0 0 GILBERT FUENTES DIRECTOR OUT 2.00 X 0 0 0 JULIE MEYER EXECUTIVE DI 40.00 X 111387 0 16905 TAUNYA MELVIN COO 40.00 X 87784 0 9024 199171 25929 1 false false false WT CAFE WASHINGTON DC 703 EDGEWOOD STREET NE WASHINGTON DC 20017 FOOD SERVICE 140886 1 596429 46928 23607 643357 PER PUPIL FUNDING 900099 7791662 7791662 STUDENT ACTIVITY FEES 900099 733 733 7792395 21997 21997 579278 504099 75179 75179 75179 8532928 7792395 97176 5979 5979 195670 73118 121128 1424 3349160 3204528 144632 103089 97125 5952 12 268748 253200 15517 31 281731 265433 16266 32 2250 2250 87242 80904 6307 31 123004 115615 7369 20 27842 27842 73733 68377 5330 26 29366 27233 2123 10 438798 406921 31721 156 22251 20693 1558 9463 8775 685 3 401078 330230 70721 127 20957 19434 1515 8 STUDENT MATERIALS 309321 309321 STUDENT FOOD 141492 141492 TELECOMMUNICATIONS 135157 125339 9770 48 AUTHORIZER FEE 83888 78016 5872 190863 186010 4847 6 6301082 5845585 453563 1934 233280 7289250 9443789 91330 116668 233912 12552 77626 65685 10953213 1854885 9188143 9098328 326804 306127 17207065 19276429 335991 376931 7688118 7484426 283743 488333 8307852 8349690 X 8892546 10926739 6667 8899213 10926739 17207065 19276429 X 2231846 -204320 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1027230 1027230 8941013 1182782 7758231 984970 672103 312867 9098328 INTEREST RATE SWAP 418062 SECURITY DEPOSIT PAYABLE 70271 488333 X 8803231 270303 270303 8532928 8532928 6571385 270303 270303 6301082 6301082 SCHEDULE D, PAGE 3, PART X ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE CHARTER SCHOOL'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE NEXT STEP PUBLIC CHARTER SCHOOL PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2016, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF JUNE 30, 2016, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2012 THROUGH 2014 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE ORGANIZATION FILES TAX RETURNS. IT IS THE CHARTER SCHOOL'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. AS OF JUNE 30, 2016, THE CHARTER SCHOOL HAD NO ACCRUALS FOR INTEREST AND/OR PENALTIES. true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 THE SCHOOL IS A PUBLIC CHARTER SCHOOL AND IS OPERATING UNDER A CONTRACT WITH THE DC GOVERNMENT. REVENUE PROCEDURE 75-50 DOES NOT APPLY TO CHARTER SCHOOLS. THE NON-DISCRIMINATORY POLICY IS EXPLICITLY STATED IN THE REGISTRATION APPLICATION AND OUR BROCHURE. SCHEDULE E, LINE 4 THE SCHOOL IS A PUBLIC CHARTER SCHOOL AND IS OPERATING UNDER A CONTRACT WITH THE DC GOVERNMENT. REVENUE PROCEDURE 75-50 DOES NOT APPLY TO CHARTER SCHOOLS. SCHEDULE E, LINE 6 THE CHARTER SCHOOL RECEIVES PUBLIC FUNDS FROM THE DC GOVERNMENT BASED ON THE NUMBER OF STUDENTS THEY ENROLL ACCORDING TO THE UNIFORM PER STUDENT FUNDING FORMULA DEVELOPED BY THE MAYOR AND CITY COUNCIL. THIS PER PUPIL ALLOCATION IS SUPPLEMENTED WITH EXTRA FUNDS FOR STUDENTS WITH SPECIAL NEEDS. THE CHARTER SCHOOL ALSO RECEIVES GOVERNMENTAL ASSISTANCE IN THE FORM OF YEARLY GOVERNMENTAL GRANTS. MOST FUNDS ARE RECEIVED FROM THE U.S. DEPARTMENT OF EDUCATION AND THE U.S. DEPARTMENT OF AGRICULTURE PASSED THROUGH THE OFFICE OF THE STATE SUPERINTENDENT OF EDUCATION IN THE DISTRICT OF COLUMBIA. true EDUCATION SCHOLARSHIPS 9 5979 A DISTRICT OF COLUMBIA 536001131 2014-10-01 7820000 REFINANCE LOANS false false false A 335574 7820000 96025 7723975 2011 false false true true A false false false false false false false A false false true false true true SUNTRUST BANK 7.000000000000 true false false false true A true SCHEDULE K - ADDITIONAL INFORMATION DISTRICT OF COLUMBIA ON OCTOBER 1, 2014, THE DISTRICT OF COLUMBIA ISSUED AND SOLD REVENUE BONDS (THE NEXT STEP PUBLIC CHARTER SCHOOL, INC. PROJECT, SERIES 2014) TOTALING 7,820,000 TO SUNTRUST BANK, THE PROCEEDS OF WHICH WERE LOANED TO THE CHARTER SCHOOL FOR THE PURPOSE OF CONSOLIDATING AND REFINANCING ALL EXISTING DEBT AS IT RELATED TO THE PURCHASE AND RENOVATION OF THE BUILDING AND LAND LOCATED AT 3047 15TH STREET, NW, WASHINGTON DC. THE PROCEEDS WERE UTILIZED TO EXTINGUISH DEBT WITH THE OFFICE OF THE STATE SUPERINTENDENT OF EDUCATION (OSSE), BUILDING HOPE AND MANUFACTURERS AND TRADERS BANK (M & T BANK) IN THE TOTAL AMOUNT OF 7,723,975, AS WELL AS TO ASSIST IN THE FINANCING OF A PORTION OF THE RELATED LOAN ACQUISITION AND CLOSING COSTS IN THE AMOUNT OF 96,025. THIS NOTE CALLS FOR CONSECUTIVE MONTHLY INSTALLMENTS OF PRINCIPAL AND INTEREST EACH PAYABLE OVER A SEVEN (7) YEAR PERIOD BASED ON A TWENTY-FIVE (25) YEAR AMORTIZATION. FORM 990, PAGE 2, PART III, LINE 4A TEACHERS INDIVIDUALIZE INSTRUCTION TO HELP STUDENTS ACHIEVE THEIR ACADEMIC GOALS AT THEIR OWN PACE. THE CHARTER SCHOOL PLACES STUDENTS BY SKILL LEVEL, RATHER THAN AGE OR GRADE, AND PROMOTES STUDENTS ACCORDING TO THEIR PROGRESS. WHEN STUDENTS COMPLETE THEIR PROGRAM OF STUDY, THE CHARTER SCHOOL COLLEGE AND CAREER READINESS PROGRAM ASSISTS STUDENTS AND ALUMNI WITH CONTINUED EDUCATION AND CAREER PLANNING. THE SCHOOL CURRENTLY SERVES A POPULATION OF 396 STUDENTS. SERVICES ADULT BASIC EDUCATION - TNSPCS OFFERS LITERACY, NUMERACY AND OTHER ACADEMIC CONTENT AT ALL LEVELS OF ABILITY TO STUDENTS, IN BOTH ENGLISH AND SPANISH, WITH PLACEMENT BASED UPON PRE-TESTS. GED PREPARATION - THE CHARTER SCHOOL OFFERS STUDENTS WHO TEST ABOVE THE 8TH GRADE LEVEL THE PREPARATION, GUIDANCE AND SUPPORT NECESSARY TO PASS THE EXAM TO ATTAIN THE GENERAL EDUCATION DEVELOPMENT (GED) CERTIFICATE IN ENGLISH OR SPANISH. STUDENTS IN DAY AND NIGHT SCHOOL STUDY GED CONTENT AND SKILLS IN THEIR CLASSES, AND MUST PASS A PRELIMINARY PRACTICE TEST BEFORE THEY TAKE THE OFFICIAL EXAM. THE CHARTER SCHOOL OFFERS FINANCIAL ASSISTANCE TO THOSE STUDENTS WHO PASS THE PRACTICE TEST WHEN THEY REGISTER FOR THE OFFICIAL GED. ENGLISH LANGUAGE LEARNERS - THE CHARTER SCHOOL OFFERS ESOL CLASSES TO ENGLISH LANGUAGE LEARNERS (ELLS) IN DAY AND NIGHT SCHOOL. STUDENTS LEARN THE LANGUAGE SKILLS THAT WILL ENABLE THEM TO NAVIGATE EFFECTIVELY WITHIN THEIR SCHOOL, THEIR COMMUNITY, AND THE WIDER WORLD. LIFE SKILLS - THE CHARTER SCHOOL OFFERS INTERACTIVE WORKSHOPS ADDRESSING SEXUAL HEALTH EDUCATION, SUBSTANCE ABUSE, FINANCIAL LITERACY, IMMIGRATION AND CULTURAL ADAPTATION, AND COMMUNITY INVOLVEMENT. TEACHERS ENCOURAGE STUDENTS TO DEVELOP THEIR ABILITIES IN SUCH ACADEMIC LIFE SKILLS AS GOAL- SETTING, ORGANIZATION, INITIATIVE AND SELF-ADVOCACY, INDEPENDENT WORK AND COLLABORATION WITHIN EACH CLASS. COLLEGE AND CAREER READINESS- THE CCR PROGRAM IS DESIGNED TO HELP CHARTER SCHOOL STUDENTS AND ALUMNI MAKE AND IMPLEMENT SHORT AND LONG-TERM PLANS FOR POST-SECONDARY AND VOCATIONAL PATHS. TWO FULL-TIME CCR SPECIALISTS PROVIDE WORKSHOPS ON JOB READINESS SKILLS (RESUME-WRITING, INTERVIEWING, ETC.), MANAGE THE DUAL ENROLLMENT PROGRAM WHEREBY STUDENTS TAKE COURSES AT TWO LOCAL COLLEGES WHILE ENROLLED AT TNSPCS AND OFFER GUIDANCE ON COLLEGE, EMPLOYMENT AND VOCATIONS, AS WELL AS HELP STUDENTS ACCESS FINANCIAL RESOURCES TO CONTINUE THEIR EDUCATION. STUDENT SUPPORT SERVICES- CASE MANAGERS COMPLETE AN IN-DEPTH NEEDS ASSESSMENT OF EACH STUDENT TO EVALUATE WHAT SOCIAL, PHYSICAL AND EMOTIONAL SUPPORTS WILL ENABLE THE STUDENT TO GROW ACADEMICALLY. CASE MANAGERS COUNSEL STUDENTS AND HELP THEM ACCESS APPROPRIATE SOCIAL SERVICES. SSS OFFERS MENTAL HEALTH COUNSELING AS WELL AS ATTENDANCE MONITORING AND TRANSPORTATION ASSISTANCE, IN ADDITION TO EXTENSIVE REFERRALS FOR OUTSIDE SERVICES. EVERY STUDENT IS ASSIGNED A CASE MANAGER WHEN THEY ENROLL AT THE NEXT STEP. THE DEPARTMENT IS MADE UP OF SOCIAL WORKERS, CASE MANAGERS, ATTENDANCE AND TRANSPORTATION COORDINATORS AND A RESOURCE AND ENRICHMENT COORDINATOR. EACH OF THESE SERVICE PROVIDERS WORKS WITH STUDENTS INDIVIDUALLY AND COLLECTIVELY TO IDENTIFY ANY AREAS OF THEIR PSYCHOSOCIAL FUNCTIONING THAT REQUIRE SUPPORT. TUTORING PROGRAM/VOLUNTEERS - BOTH PAID AND VOLUNTEER TUTORS ARE AN ESSENTIAL PART OF THE CHARTER SCHOOL PROGRAM, AND THEIR INVOLVEMENT ALLOWS INDIVIDUALIZED INSTRUCTION FOR STUDENTS, ENABLING STUDENTS TO PROGRESS AT THEIR OWN PACE. TUTORS WORK DURING THE DAY AND NIGHT SCHOOL AS CLASSROOM AIDES, OR AS ONE-ON-ONE TUTORS WITH STUDENTS IN THE FOLLOWING SUBJECTS: ESOL, READING AND LANGUAGE ARTS, AND MATH. BILINGUAL TUTORS ARE ALSO AVAILABLE. FOOD PROGRAM - THE CHARTER SCHOOL PROVIDES A FREE BREAKFAST, LUNCH AND DINNER PROGRAM IN ACCORDANCE WITH FEDERAL LAW AND THE U.S. DEPARTMENT OF AGRICULTURE (USDA) POLICY. FORM 990, PAGE 6, PART VI, LINE 11B RELEVANT INFORMATION IS GIVEN TO A 3RD PARTY FOR 990 PREPARATION AND REVIEW. THE COMPLETED DOCUMENT IS THEN PRESENTED TO THE EXECUTIVE DIRECTOR, WHO PRESENTS THE 990 TO THE FINANCE COMMITTEE. UPON THE FINANCE COMMITTEE'S REVIEW, IT IS FORWARDED TO THE FULL BOARD FOR THEIR APPROVAL. AFTER FINAL APPROVAL, THE 990 IS FILED WITH THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C DURING THE ANNUAL ORIENTATION, ALL NEW BOARD MEMBERS ARE REQUIRED TO COMPLETE AND SIGN A DISCLOSURE DOCUMENT. EACH PERSON SHALL COMPLETE A DISCLOSURE FORM EACH YEAR AND THE POLICY IS REVIEWED ANNUALLY BY EACH MEMBER OF THE BOARD. PRIOR TO BOARD ACTION INVOLVING A CONFLICT OF INTEREST, THE BOARD MEMBER HAVING A CONFLICT OF INTEREST SHALL DISCLOSE ALL FACTS RELATED TO THE CONFLICT OF INTEREST. SUCH DISCLOSURE IS REFLECTED IN THE MINUTES OF THE MEETING AND THE BOARD ADDRESSES THE MATTER IN A WAY TO ENSURE THE BEST INTERESTS OF THE SCHOOL ARE FURTHERED. THE BOARD MEMBER WHO HAS A CONFLICT OF INTEREST SHALL RECUSE THEMSELVES FROM PARTICIPATING IN THE DECISION EXCEPT TO RESPOND TO QUESTIONS. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS USING SALARY SURVEYS, FORM 990'S OF OTHER ORGANIZATIONS AND OTHER APPROPRIATE INFORMATION RELATED TO COMPARABLE POSITIONS OF SIMILAR SIZED ORGANIZATIONS. FORM 990, PAGE 6, PART VI, LINE 19 ALL GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE FORWARDED TO THE DISTRICT OF COLUMBIA PUBLIC CHARTER SCHOOL BOARD, WHICH PROVIDES OVERSITE AND DISTRIBUTION OF RELEVANT INFORMATION TO THE PUBLIC. THE FORM 990 IS MADE AVAILABLE UPON REQUEST AND IS AVAILABLE ON GUIDESTAR.ORG FOR PUBLIC INSPECTION. FORM 990, PART XI, LINE 9 INTEREST RATE SWAP -204,320 TOTAL -204,320 ON OCTOBER 9, 2014, THE CHARTER SCHOOL ENTERED INTO AN INTEREST RATE SWAP AGREEMENT WITH SUNTRUST BANK FOR A NOTIONAL AMOUNT EQUAL TO THE OBLIGATION UNDER THE LOAN PAYABLE WHEREBY A PORTION OF THE FLOATING RATE WAS SWAPPED INTO A FIXED RATE. UNDER THE AGREEMENT, THE CHARTER SCHOOL PAYS THE BANK INTEREST AT A FIXED RATE OF 3.51% ON THE PRINCIPAL LOAN BALANCE THROUGH THE TERMINATION DATE OF THE SWAP AGREEMENT, WHICH IS OCTOBER 1, 2021. THE SWAP MECHANISM IS INTENDED TO ALLOW THE SCHOOL TO REALIZE THE POTENTIAL BENEFIT OF A LOWER FIXED RATE BY REDUCING THE IMPACT OF MARKET CHANGES IN THE VARIABLE INTEREST RATE. INTEREST EXPENSE RELATED TO THE INTEREST RATE SWAP FOR THE YEARS ENDED JUNE 30, 2016 AND 2015 WAS 116,563 AND 90,516, RESPECTIVELY. AT JUNE 30, 2016 AND 2015, THE FAIR VALUE OF THE INTEREST RATE SWAP WAS 418,062 AND 213,743, RESPECTIVELY.