The Calais School

“The organization's federal form 990 was provided to and made available to each voting member of the organization's governing body prior to filing of the federal form 990 with the irs. The organization's governing body is its board of trustees. The organization's board of trustees has delegated the responsibility to oversee, review and approve of the federal form 990, including preparation, review and filing process, to the audit/finance committee.as part of the tax return preparation process the organization hired a professional cpa firm with experience and expertise in not-for-profit tax return preparation to prepare the federal form 990. The cpa firm's tax professionals worked closely with the organization's management personnel and various other individuals of the organization to obtain the information needed in order to prepare a complete and accurate tax return.the cpa firm prepared a draft federal form 990 and furnished it to the organization's management for their review. The organization's management personnel and audit/finance committee reviewed the draft federal form 990. Revisions were made to the draft federal form 990 where necessary and a final draft was furnished by the cpa firm to the organization's management personnel and audit/finance committee for final review and approval prior to presentation of the federal form 990 to each voting member of the board.”

“The school regularly monitors and enforces compliance with its conflict of interest policy. Annually all members of the board of trustees are required to review the existing conflict of interest policy.”

“The organization's personnel committee reviews and approves the compensation and benefits of the organization's key employees and documents it the minutes. The executive committee's review is done on at least an annual basis and ensures that the "total compensation" of the key employees is reasonable. This is documented in the minutes of the personnel committee meeting which are provided to the board. The committee reviews comparability data.the actions taken by the personnel committee enable the organization to receive the rebuttable presumption of reasonableness for purpose of internal revenue code section 4958 with respect to the total compensation of certain members of the senior management team, including the executive director. The three factors which must be satisfied in order to receive the rebuttable presumption of reasonableness are the following:1. The compensation arragement is approved in advance by an "authorized body" of the applicable tax-exempt organization which is compsed entirely of individuals who do not have a "conflict of interest" with respect to the compensation arrangement;2. The authorized body obtained and relied upon "appropriate data as to comparability" prior to making its determination; and3. The authorized body "adequately documented the basis for its determination" concurrently with making that determination in the minutes.”

“See note for form 990, part vi, line 15a- compensation review and approval process ceo, top management”

“The organization's filed certificate of incorporation and any amendments can be obtained and reviewed through the state of new jersey secretary of state. The organization's financial statements and conflict of interest policy are available upon request at their business office.”