Delaware County Christian School Society

“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. 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.”

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $24,958,521 Line 29 - Net assets with donor restrictions $ 5,944,430 Total net assets $30,902,951”

“The organization's Finance Committee assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”