Tma Properties Foundation Inc.

“The Organization's top management official and top financial official each review the Form 990 prior to its filing with the IRS. A copy of the final Form 990 is also provided to the voting members of the Organization's governing body prior to its filing with the IRS.”

“The Organization's conflict of interest policy is distributed to each member of the Organization's governing body, its officers and its key employees on an annual basis. Each such individual provides an annual disclosure statement indicating that they have received, read, understood and agreed to comply with the policy, certifying that: (1) they have no relationships or interests that present a conflict of interest, (2) they have one or more conflicts of interest that have been fully disclosed as required by the policy and have been properly administered in conformity with the policy, or (3) they have previously undisclosed conflicts of interest and disclosing the details of such conflicts. Any disclosure statements with previously undisclosed conflicts of interest are forwarded to appropriate Organization officials to take appropriate actions as required by the policy.”

“The Organization does not have paid employees and therefore does not have a compensation setting policy. Key personnel supporting the Organization are employees of The Master's Academy of Central Florida, Inc., a related tax-exempt organization. The Academy reviews the compensation of all its employees on an annual basis to ensure that compensation is reasonable and comparable to other similar organizations.”

“The Organization's Articles of Incorporation are publicly available online. The Organization's bylaws, conflicts of interest policy, and other policies are provided to those responsible for complying with them.”

“The Organization is included in the consolidated financial statements of The Master's Academy of Central Florida, Inc., which are audited annually by an independent certified public accounting firm. This audit has resulted in the issuance of an unqualified opinion on the consolidated financial statements. In addition, the Organization is a fully accredited member of the Evangelical Council for Financial Accountability (ECFA) and, as such, subscribes to ECFA's Seven Standards of Responsible Stewardship addressing: (1) operation in conformity with the Organization's evangelical Christian doctrinal statement, (2) oversight by a Board of Directors, the majority of which are independent, (3) submission of complete, accurate, audited financial statements, (4) proper management and financial controls over the use of the Organization's resources, (5) public availability of the Organization's current financial statements upon written request, (6) avoidance of conflicts of interest, and (7) responsible, truthful fund-raising practices.”

“The Organization's Board of Directors, or a committee thereof, assumes responsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from the prior year.”