Royalmont Academy Inc.

“Board vote is required for elevation of officers and new board members.”

“The return is reviewed and approved by the president of the board.”

“The royalmont board of directors is required to submit any potential conflicts of interest for consideration during their annual board of directors meeting to consistently evaluate and reassess the independence of board members.”

“The royalmont board of directors is responsible for the hiring, review and termination of the position of principal/executive director. The determination of the compensation for this position is based upon a review of salary surveys for similar positions from peer nonprofit organizations. It is also impacted by the individuals background and experience, the nature and scope of the duties and the amount of time devoted to performing such duties. Unfortunately, it is also impacted by the economic situation of the organization. Once hired, salary increases are more dependent on the organizations economics than the merit of the job performance at certain times.”

“Available upon request during normal business hours.”

“Available upon request of the principal during normal business hours.”

“During the taxpayer's 2014 compilation, it was discovered that the financial statements, for the fiscal year ending june 30, 2014, were not finalized. The 2013 form 990 has been amended to reflect the corrected 2013 financial statements. The following parts were amended on form 990: i, iii, viii, ix, x and xi -part i: line 8 - total contributions increased by 957 to 50,828 line 9 - total program service revenue increased by 71,711 to 942,593 line 12 - total revenue increased by 72,668 to 1,131,636 line 15 - total salaries, other compensation, employee benefits decreased by 14,596 to 680,160 line 17 - total other expenses increased by 110,468 to 424,341 line 18 - total expenses increased by 95,872 to 1,104,501 line 19 - total revenue less expenses decreased by 23,204 to 27,135 line 20 - total assets decreased by 29,227 to 225,124 line 21 - total liabilities decreased by 6,023 to 381,776 line 22 - total net assets or fund balances decreased by 23,204 to -156,652 -part iii: line 4a - total program service expenses increased by 94,200 to 931,451 line 4a - total program service revenue increased by 71,711 to 942,593 -part viii: line 1f - all other contributions, gifts, grants, and similar amounts not included above increased by 957 to 50,828 line 1h - total contributions, gifts, grants and other similar amounts increased by 957 to 50,828 line 2a (column a & b) - tuition program service revenue decreased by 30,183 to 747,579 line 2b (column a & b) - government appropriations program service revenue increased by 105,600 to 158,558 line 2c (column a & b) - miscellaneous revenue decreased by 3,706 to 36,456 line 2g - total program service revenue increased by 71,711 to 942,593 line 12 (column a) - total revenue increased by 72,668 to 1,131,636 line 12 (column b) - total related or exempt function revenue increased by 71,711 to 942,593 -part ix: line 10 (column a & b) - payroll taxes decreased by 14,596 to 21,379 line 20 (column a & b) - interest expense increased by 3,196 to 1,901 line 24a (column a & b) - auxillary services expense increased by 105,600 to 105,600 line 24e (column a) - all other expenses increased by 15,350 to 49,146 line 24e (column b) - all other expenses increased by 13,678 to 27,616 line 25 (column a) - total functional expenses increased by 95,872 to 1,104,501 line 25 (column b) - total program service expenses increased by 94,200 to 931,451 line 25 (column c) - total management and general expenses increased by 1,672 to 103,299 -part x, column b: line 2 - savings and temporary cash investments increased by 957 to 1,134 line 4 - accounts receivable, net decreased by 30,184 to 33,304 line 16 - total assets decreased by 29,227 to 225,124 line 17 - accounts payable and accrued expenses decreased by 14,597 to 64,654 line 23 - secured mortgages and notes payable to unrelated third parties increased by 8,573 to 81,673 line 26 - total liabilities decreased by 6,023 to 381,776 line 27 - unrestricted net assets decreased by 23,204 to -156,652 line 33 - total net assets or fund balances decreased by 23,204 to -156,652 line 34 - total liabilities and net assets/fund balances decreased by 29,227 to 225,124 -part xi: line 1 - total revenue increased by 72,668 to 1,131,636 line 2 - total expenses increased by 95,872 to 1,104,501 line 3 - total revenue less expenses decreased by 23,204 to 27,135 line 10 - net assets or fund balances at end of year decreased by 23.204 to -156,652 the following form 990 schedule was amended: -schedule b, page 2: donor 2 - corrected address”