Related Party Transactions

12 Months Ended

Jun. 30, 2023

Related Party Transactions

Related Party Transactions

13. Related Party Transactions

The Company contributed to Future of School, a charity focused on access to quality education. Future of School is a related party because a former executive officer of the Company formerly served on its Board of Directors. During the years ended June 30, 2023, 2022 and 2021, contributions made by the Company to Future of School were zero, $1.2 million, and $1.3 million, respectively. In fiscal year 2019 and 2021, the Company accrued $2.5 million and $3.5 million, respectively, for contributions to be made in subsequent years. The amounts contributed for the years ended June 30, 2023, 2022 and 2021 reduced those obligations and as of June 30, 2023, $2.5 million remains outstanding as related to the fiscal year 2021 accrual.