Holland Christian Education Society

“The organization has one class of members. Members of the organization are those individuals who are in agreement with the purpose of the school and who either have made a personal gift to the organization within the last 12 months or who have currently enrolled their child(ren) in the school. The members of the organization approve the members of the governing body and approve the operating budget for the coming fiscal year.”

“See explanation for question 6 above.”

“See explanation for question 6 above.”

“The Form 990 is prepared by an independent CPA Firm and reviewed in detail by selected management team members and the audit committee. The Form 990 is then provided to the entire governing board prior to filing with the IRS.”

“Officers and Board Members sign annual conflict of interest statements. The signed statements are reviewed by the Executive Committee. Should any potential conflicts of interest be disclosed, the Board Member or officer would be asked to refrain from participation in any decision with regard to matters affected by the relationship.”

“Independent board members annually approve compensation for officers. Budgets are also approved by members of the organization. HCES's governing board uses the Christian Schools International salary guidelines and also reviews comparable data. These comparison studies are completed prior to determining compensation. This information is documented in the corporate minutes.”

“The governing documents, conflict of interest policy and financial statements are made available to the general public 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. The 2018 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 $24,417,754 Line 29 - Net assets with donor restrictions $14,833,066 Total net assets $39,250,820”

“The organization's Audit 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.”