Circles of Learning Inc.

“The 990 is completed by an independent accounting firm and thoroughly reviewed and compared to the audited financial statements by the executive director and bookkeeper. The finance committee chair and board president also review the return before the president signs the return.”

“The Board of Directors SIGN A CONFLICT OF INTEREST POLICY STATEMENT YEARLY THAT REQUIRES disclosure of all conflicts of interest. In any transaction where a conflict of interest is believed to exist, the material facts of the transaction and the interest or relationship of any Director shall be disclosed to the Board or to a committee consisting entirely of Directors. The Board or a committee authorized must approve or ratify the transaction by the affirmative votes of a majority of disinterested Directors, even though the disinterested Directors be less than a quorum. The presence of a Director who is directly or indirectly a party to a transaction with the corporation or a Director who is otherwise not disinterested, may be counted in determining whether a quorum is present at any meeting of the Board of Directors or a committee of the Board considering such a transaction. When the Board of Directors or a committees of the Board takes action on a transaction, any Director who is directly or indirectly a party to the transaction with the corporation or any Directors who is otherwise not disinterested may not be counted in determining whether or not the action was passed by the necessary majority. For this purposes, a Director is indirectly a party to a transaction if the other party to the transaction is an entity in which the Director has a material financial interest or of which the Director is an officer, director or general partner.”

“Compensation/salary review is completed annually through comparisons with similar organization and statewide compensation information. The executive director submits background information and pay scale philosophies/strategy to the personnel committee for review and the board of directors for final approval.”

“Requests for reviewing the governing documents, conflict of interest policy and financial statements are available upon request at the organizations Harrison Park location.”

“PENSION ADMINISTRATION: Program service expenses 3,629. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,629.”

“Membership and Subscriptions: Program service expenses 0. Management and general expenses 616. Fundraising expenses 0. Total expenses 616.”

“The organizations committee that assumes responsibility for oversight of the audited financial statements and selection of an independent accountant has not changed from the previous year.”