Delaware County Christian School

“The Executive Committee is composed of the President, Vice President, Secretary, and Treasurer. They meet with the Head of School prior to Board meetings. If the full Board is not able to meet, the Executive Committee discusses any issues that arise and make decisions on them. Any actions taken on behalf of the full Board are presented at the next meeting.”

“Parents or guardians of school families, administrators, faculty and staff, graduates of the school, and parents of graduates who no longer have children in the school are all eligible for membership in the society.”

“Society members may vote on the election of Board Members.”

“Society members vote on the purchase or sale of real estate, encumbering any real estate assets, and changes made to by-laws.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management and the finance committee. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.”

“In accordance with the conflict of interest policy, the organization reviews the annual disclosure forms signed by all parties and determines if there are any conflicts. Family and business relationships are expressly mentioned in the conflict of interest policy as potential interested parties. The Executive Committee of the Board monitors the policy and if any conflicts are reported, the full Board will resolve the conflict using the procedures outlined in the policy.”

“The Executive Committee of the Board of Trustees reviews the salary of Head of School against comparable schools and makes a recommendation to the full Board on the Head of School's salary increase for the new year. Salary comparisons are made to ensure the Head of School's salary remains within fair market range for the industry. The Executive Committee also reports on the annual performance review completed by the Committee. Board level discussions on compensation are recorded in Board minutes. The School also benchmarks the faculty and division Heads and Directors against published standards in the private school and non-profit community to similarly ensure all compensation is within fair market range for the industry. The Head of School then approves the Chief Financial Officer's compensation, and the approval process is documented.”

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

“The loss of $3,590,142 shown on Form 990, Part I, Line 19 & Part XI, Line 3 is caused by the $6,468,951 transfer of endowment assets from the School to the Foundation.”