Democracy Prep engages Charter Impact for financial management
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Description
Democracy Prep at the Agassi Campus enters into an Independent Consultant Services Agreement with Charter Impact, LLC to provide comprehensive business management, accounting, payroll, HR, and compliance support. Compensation is based on 1.25% of revenue per reporting unit plus per-employee payroll fees, with additional hourly services and capped reimbursable expenses over a base term from May 1, 2026 through June 30, 2029 and automatic one-year renewals thereafter.
Contract Details
Contract Amount
1.25% of revenue per reporting unit; $79 per employee per month; expedited check fee $75 per check; monthly expenses capped at $500 without prior written approval; one-time $5,000 implementation fee waived; additional services billed at hourly rates ($100–$250/hour)
Vendor
CHARTER IMPACT LLC
Agency
Bronx Preparatory Charter School, NY
Contract Type
PROFESSIONAL_SERVICES
Document Date
May 1, 2026
Contract Term
Beginning May 1, 2026 and ending June 30, 2029; automatically renewed for successive one-year terms unless either party gives at least 60 days’ notice before expiration of any term
Renewal Date
2029-06-30
Renewal Info
Initial term runs May 1, 2026 through June 30, 2029 and renews automatically for successive one-year terms unless either party provides at least 60 days’ written notice of intent not to renew before the expiration of any term. Pricing may be increased upon renewal and CI may pass through third-party cost increases during the term.
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Democracy Prep Public Schools Inc. and Democracy Prep at the Agassi Campus Trademark License Agreement April 2026
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