Tysons Corner Childrens Center

“The articles of incorporation provide for one class of membership which are the partners or legal guardians of children enrolled in the daycare center.”

“The board of directors of the organization are elected by the membership.”

“The board of directors makes all decisions except those that are required either under the laws of the commonwealth of virginia or the organization's bylaws to be voted on the members.”

“The bylaws of the organization establish an executive committee of the board of directors, which would have such authority as the board would grant it for the management of the center.”

“The federal form 990 is reviewed by management or its designee. The reviewed form 990 is submitted to the treasurer to review and approve prior of filing. Any necessary changes requested are processed by the certified public accountant. The return is prepared for filing and signed by an officer of the corporation. Once the form 990 is filled with the irs, the treasurer confirms the form 990 filing with the irs to the board of directors at the next subsequent monthly board meeting.”

“The conflict of interest policy of the organization is contained in its bylaws. All board members and employees are covered by this policy. All major contractual relationships are discussed with the board of directors and any actual or potential conflicts of interest are reviewed and evaluated by the board of directors.”

“Compensation of the executive director is established by the board of directors of the organization based on comparable salary data. The board of directors is independent of management. Compensation decisions related to the executive director are handled in executive session and accordingly, no minutes for these sessions are maintained. However, documentation of salary approval and consideration by the board is submitted by the board to management of the organization. Compensation of all other employees is recommended by the executive director based on comparable market based data and approved by the board of directors as part of the annual budget approval process, which is documented in the minutes of the applicable meeting.”

“The organization makes available to the public upon request all documents required under current internal revenue regulations. The financial statements, conflict of interest policy and governing documents have not been requested in the past and would be made available on a case by case basis subject to the approval of the governing board of the organization.”