Columbus Torah Academy

“Members vote to ratify the slate of trustees nominated each year.”

“The organization has members who may elect one or more members of the governing body.”

“Any decisions of the governing body are subject to the approval of its members.”

“The form 990 is reviewed by the cfo, who will then present it to the board.”

“The executive board hires the headmaster at a competitive market rate for jewish day schools across the united states. A search committee interviews several applicants, the board approves the final decision. The vice president of administration along with the president and the chairman of the board evaluate and review the headmaster every two years. In the process, they utilize evaluation forms that were distributed to various staff members. Board members, parents, donors, and possible students. The headmaster evaluates and reviews all other staff members.”

“The organization makes its governing documents and financial statements available to the public upon request.”

“On april 3rd, 2020, the organization qualified for and received a loan pursuant to the paycheck protection program, a program implemented by the small business administration under the coronavirus aid, relief, and economic security act. The principal amount of the loan was $528,500. The loan bears interest at a fixed rate of 1.0% per annum, has a two year term, is unsecured and guaranteed by the small business administration. The principal and interest are eligible for forgiveness under the paycheck protection program upon meeting the performance requirements of program. The organization intends to apply for the maximum forgiveness of the ppp loan. As of august 31, 2021 the organization had met the performance requirements therefore the amount has been included as revenue on part viii line 1e. The amount was not recognized in prior year and therefore, included on 2022 tax return.”