St. Marks Day Care Center Inc.

“Upon completion of the 990 by independent cpa, a copy is given to the executive director for review and approval. The executive director upon receipt of the tax form then schedules a meeting with members of the organizations finance committee to review the form. Questions if any are then presented to the accountant for clarification. Upon satisfactory clarification of all questions, the 990 is approved by the committee and the accountant is instructed to finalize the return.”

“The issue of whether a conflict of interest exist is routinely considered during board meetings when the board is engaged in discussion relating to activities conducted by the organization, entering into a contract, hiring personnel, etc.”

“In determining the compensation for the organizations executive director and key employees, the organizations board considers the following factors:1) level of education.2) experience.3) compensation paid by other similar organizations.4) financial status of the organization.the board also consults with an outside personnel agency. All discussions pertaining to the decision reached is documented.”

“The organization follows the sane procedure used for ceo, executive dir and top management. See write-up of procedure in part vi, line 15a.”

“The organizations governing documents, conflict of interest policy and financial statements are maintained at the organizations headquarters and are available to the public upon request.”

“The organization changed its accounting method to the accrual basis to comply with the financial accounting standards board (fasb) statement of financial accounting standards 116, accounting for contributions received and contributions made (sfas 116), now codified in fasb accounting standards codification 958, not-for-profit entities (asc 958).”

“SEE ATTACHED SCHEDULES.”