Greensboro Islamic Academy

“Form 990, Part VI, Section B, Line 12c - The organization requires each officer, director, and key employee to complete and sign an annual conflict of interest disclosure form. The Board of Directors (or designated committee) reviews these forms annually to identify any potential conflicts. During board meetings, individuals are required to disclose any conflicts related to agenda items and must recuse themselves from discussing or voting on those specific matters. The organization monitors vendor transactions against the disclosed interests to ensure compliance.”

“Form 990, Part VI, Section B, Line 15 - The School Board of Directors, which consists entirely of independent members who receive no compensation for their service, is responsible for establishing and approving the compensation for all staff and faculty members, including the Principal. The compensation process includes a review of comparability data, such as regional salary surveys for private schools or local public school district pay scales, to ensure that salaries are reasonable and competitive within the education sector. The Board's deliberations and final salary determinations are contemporaneously documented in the board meeting minutes.”

“Form 990, Part VI, Section C, Line 19 - Disclosure Upon Written Request. The organization makes these documents available to the public upon written request, with interested parties submitting their request to the principal office. Documents are typically provided electronically or can be inspected physically at the office during regular business hours.”

“FORM 990, PART VI, LINE 11B: ORGANIZATION'S REVIEW PROCESS OF FORM 990. A draft of the completed Form 990, including all applicable schedules, is prepared by the organization's external independent accountant. The accountant then provides the draft to the Executive Director and the Chair of the Finance Committee for an initial review. Revisions are made as necessary, and a final draft is provided to all members of the Board of Directors via email at least one week prior to the board meeting. At the subsequent board meeting, the Finance Committee Chair and the Executive Director facilitate a discussion of significant items on the form, including the mission statement, program service accomplishments, governance questions, and financial statements. All board members have the opportunity to ask questions and provide comments. The board then votes to approve the final version of the Form 990 for filing with the IRS, and this approval is recorded in the board meeting minutes. The final version is signed and submitted to the IRS by the Executive Director.”

“Prior Period Adjustment - -4270”

“Our mission is to create an Islamic educational environment for Muslim youth where teachings of the Quran and Sunnah serve as a guide for academic and spiritual excellence to prepare students for the challenges of this life and the hereafter (In sha Allah).”

“Short year was asked to be resubmitted by the IRS. Some balances may have changed.”

“1. Supporting Services Contractors were paid = $131,526 2. Substitute Teachers & Other Direct Program Contractors were paid = $148,327”