Novation Education Opportunities (NEO) is organized under the Minnesota Nonprofit Corporation Act exclusively for a charitable and educational purpose, more specifically to oversee innovative charter schools through consistent, ongoing and robust evaluation to achieve significant and measurable student growth through the authorizing of public charter schools as defined in Minnesota Statutes 124E. To this end, NEO shall at all times be operated exclusively for charitable purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code. All funds, whether income or principal, and whether acquired by gift or contribution or otherwise, shall be devoted to said purposes.