Pillar College Inc.

“The Executive Committee consists of at least one-third (1/3) of the board members of Pillar College, including the Chairman and Vice Chairman. The Executive Committee shall be empowered to act on behalf of the board between meetings of the board with the exception of appointing/removing trustees or officers, making changes to the bylaws or articles of incorporation, or any action that requires seventy-five percent (75%) board approval. All actions taken by the Executive Committee shall be reported to the board within thirty (30) days of such action.”

“Phil Casciano and Frank Donaruma have a family relationship.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.”

“The organization requires all officers and board members to annually complete and sign a conflict of interest questionnaire. The Board Chairman is responsible for reviewing the signed statements and ensuring that interested persons are in compliance with the conflict of interest policy. The Board Secretary reviews the Board Chairman's statement. 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.”

“Line 15a - Compensation for the Ex-Officio/President is reviewed by the Administrative Committee of the Board. Comparability data is used and the approval process is documented. Line 15b - Compensation for other officers is determined and reviewed by the Administrative Committee of the Board. Comparability data is used and the approval process is documented.”

“The governing documents, conflict of interest policy and financial statements are available 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 $ 835,226 Line 29 - Net assets with donor restrictions $ 103,366 Total net assets $ 938,592”

“The organization's board 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.”