The Ross Institute Inc.

“The Board of Trustees may, by resolution, designate five or more trustees (one of whom shall be the Chairperson of the Board of Trustees) to constitute an Executive Committee, and delegate to the Executive Committee any of the powers and authority of the Board of Trustees in the management of the business and affairs of the Corporation, except for: the amendment or repeal of Bylaws or the adoption of new Bylaws; the amendment or repeal of any resolution of the Board of Trustees that by its express terms is not so amendable or repealable; the filling of vacancies in the Board of Trustees or in any committee; the approval of any transaction in which a trustee or officer has an interest; and the granting of degrees or making removals from office.”

“Nicole Ross Eloff, Interim President and Robert Eloff, Interim Treasurer - Family relationship”

“The Form 990 is prepared by an independent CPA firm. A preliminary draft of the organization's Form 990, including all required schedules, was provided to management. Management reviewed the draft Form 990 in detail, consulted with the organization's accountants and tax return preparers, and took all other measures necessary and appropriate to ensure that the final version of the Form 990 is complete and accurate to the best of their knowledge. A copy of the final version of the Form 990, including all required schedules, was provided to each member of the organization's Board of Trustees prior to filing with the IRS.”

“Each director, principal officer, and member of a committee with governing board delegated powers signs a conflict of interest statement annually which is reviewed by the officers. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“The Compensation Committee approves the officers and key employees compensation by performing an analysis and utilizing appropriate data as to the comparability of the compensation. The approval process was documented in the minutes.”

“The School makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. The 2018 Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $70,461,039 Line 29 - Net assets with donor restrictions $ 1,687,078 Total net assets $72,148,117”

“The organization's Audit Committee assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”