Daytop Village Preparatory School

“The organization did not hold any board meetings during the year.”

“The organization did not hold any board committee meetings during the year.”

“Daytop village preparatory school has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to management of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants.”

“The conflict of interest policy is applicable to the corporate officers and the board members of the organization. The corporation monitors the policy annually. The organization is currently developing a procedure to respond to potential conflicts, if one were to arise.”

“Compensation for the top management officials of the organization is determined by comparing and reviewing the compensation of these positions to comparable sized organizations, which is done by the board of directors. Once a compensation amount has been determined, employment contracts are approved by the board. This process was last undertaken in 2013.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation, form 990, form 1023, and by-laws are also available upon written request or by calling the organization directly.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process did not change from the prior year.”

“When the original return was filed the financial information had not been audited. Since filing the original return, there has been a complete audit performed. Thus, some financial information for the organization has changed and an amended return has been filed. Description of amendment to 2013 form 990 - following are the changes made on the amended return: form 990, part iii, line 4a: total program expenses equal $391,504 (increased by $232,851) form 990, part iv: checked off "yes" for line 11f and 12a form 990, part vi, section b, line 11: updated the description form 990, part ix: total expenses equal $550,157 (increased by $28,000), program expenses equal $391,504 and management and general expenses equal $158,653 form 990, part x: 1) pledges and grants receivable, net - decreased by $28,000 2) unrestricted net assets - decreased by $28,000 form 990, part xii: checked "yes" for line 2b and 2c. The financial statements for the year were audited on a separate basis. Form 990, schedule d, part x, line 2: checked the box and added the description in part xiii related to fin 48(asc 740) form 990, schedule d, part xi was completed: total revenue - $567,736 form 990, schedule d, part xii was completed: total expenses - $550,157 form 990, schedule j, part i, line 3: unchecked the box for "written employment contract"”