Stoneybrooke Christian Schools

“Describe the organization's review process for the form 990. Form 990 is prepared by an independent cpa firm and reviewed in detail by the controller and head of school. The reviewed form 990 is then provided to the board of directors prior to filing with the irs. The organization's board of directors assumes responsibility for oversight of its review and selection of its independent public accountants. This process has not changed from the prior year.”

“Describe how the organization monitors and enforces compliance with the conflict of interest policy. The organization requires all officers and board members to annually complete and sign the school's policy, which includes a conflict of interest questionnaire. The head of school, board chairman, and secretary are responsible for reviewing the signed statements and ensuring that interested persons are in compliance with the conflict of interest policy. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“Describe the process used for determining compensation for the head of school. Compensation for the head of school is reviewed and approved by the independent members of the board. Wages and comparable institutions are used as a reference point but are not treated as hard limited, only guidelines. The head of school is then offered a written contract negotiated by the chairman. The organization does not compensate any officers or key employees. Therefore, this line has been answered no in accordance with the instructions.”

“Describe how the organization makes its governing documents, conflict of interest policy, and financial statements available to the public. The organization makes its governing documents, conflict of interest policy, and financial statements available upon request. All documents are kept in a notebook in the front office for those requests.”

“The employee retention credit (erc) was enacted in march 2020 by the cares act. The erc is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer paid to employees between march 2020 through september 2021. During the year ended june 30, 2022, the school recorded $190,911 of refundable erc claimed under provisions of the cares act in the accompanying statement of financial position and statement of activities.”