Acton Chinese Language School Inc

“The return preparer emails a copy of the final draft version of Form 990 to the treasurer of the board or a designated officer. The person forwards it to all voting members of the board of directors and asks them to review the return and provide feedbacks within certain business days. The return will be timely filed after all the feedbacks received from reviewers have been recorded.”

“Each director or key employee has to disclose annually information regarding his or her interest and those of his or her family members that can give rise to conflicts of interest during the annual board of directors meeting either verbally or in writing.”

“The Company has a rebuttable presumption of reasonableness policy in place. The board of directors must obtain compensation comparability data for the executive officers before the compensation meeting being held. The members who participate may not have any personal interest in the compensation arrangement. The comparability data may be based on industry surveys, documented compensation of persons holding similar positions in similar organizations, expert compensation studies, or other comparable data. The decision-making body must approve the compensation, without discussion or voting participation by the person whose compensation is being approved or any other member with a conflict of interest. However, that person may answer questions that will help the decision-making body in its later deliberations. The decision-making body must document the basis for its determination concurrently with the approval. The documentation contains 1. the terms of the approved transaction and the date approved, 2. the members of the decision-making body who were present during debate on the transaction that was approved and those who voted on it, 3. the comparability data that was relied on by the decision-making body and how the data was obtained, and 4. any actions by a member of the decision-making body having a conflict of interest. The documentation must be prepared before the later of the next meeting of the decision-making body, or two months after the final actions of the body. In addition, the decision-making body must approve the documentation within a reasonable time after preparation.”

“The Company makes its governing documents such as articles of incorporation, bylaws, conflict of interest policy, and financial statements available to the general public upon request.”

“Language Teaching Consultants $57,768, Chinese Culture Consultants $4,999, Administrative Consultants $18,418. Total Other Consultants $81,185.”