Joliet Montessori School

“The Business Manager coordinates the completion of Form 990 with an independent CPA. Once completed, the Business Manager reviews the Form 990 and submits the completed return to the Finance Committee members who also perform their own review for accuracy and completeness. The reviewed tax return is then made available via email to the entire Board of Trustees. Upon Board acceptance, the Board President signs both the Federal and State returns.”

“New trustees received the JMS Conflict of Interest Policy during orientation and are required to disclose any potential conflicts at that time. In subsequent years, all trustees and committee members receive an affirmation form that must be signed. The affirmation form specifies that the trustee/committee member has received a copy of the policy, has read the policy, and has agreed to comply with the policy. Further, all trustees/committee members understand that the school is a charitable organization; and in order to maintain its federal tax-exempt status, all trustees and members must only engage in activities that support the school's tax-exempt purpose. Signed affirmation forms are retained by the Board Trustees.”

“The Board of Trustees will create an ad hoc Search Committee whenever a new Head of School is being hired. The committee can include trustees as well as community members, as deemed necessary and appropriate. The process of determining compensation consists of gathering data from comparable sources and markets while taking into account credentials, experience, etc. The Search Committee presents its recommendation to the full Board of Trustees and documents the decision in the official minutes of the meeting. The process is similar for contract renewals as well. Because personnel matters are confidential, all discussion of compensation transpires in a closed or executive session of the Board.”

“The Federal and State 990 forms are available to the public upon request. The school reserves the right to charge a reasonable copying fee plus postage for any requests of printed copies. The Conflict of Interest Policy is also available directly from the Board of Trustees upon request. Internal monthly financial statements are reviewed by the Finance Committee and are presented at the monthly Board meetings. Board meetings are open to constituents, except when noted as a closed or executive session. Copies of the minutes from the Board meetings along with documents distributed are available for review in the school office.”

“Client Note 1 - Statement 1”