Choctaw Private Educational Foundation Inc.

“Form 990 will be reviewed by the officers of the governing body and signed by the secretary. The officers will also provide a copy of the form 990 to the executive board for their review at the next regular scheduled meeting.”

“Each member, director, principal officer and member of a committee with governing board delegated powers signs, annually, a statement which affirms such person (1) has received a copy of the conflicts of interest policy, (2)has read and understands the policy, (3) has agreed to comply with the policy, and (4) understands the organizatoin is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-expemt purposes. The policy requires a duty to disclose by any interested party as defined. The excecutive board approves all significant improvements and expenditures and monitors any possible conflict of interest.”

“The full and complete management and control of the corporation is vested in the board of directors registered with the state of alabama. The number of directors shall be determined by the bylaws of the corporation. This number shall be subject to change from time to time as the bylaws may be amended by the board of directors.current by-laws allow for an elected general board consisting of parents or legal guardians of students. The general board appoints and excecutive board which excludes shool employees their immediate family, or business associates who are financially dependent or compensated by the organization from consideration. No compensation is received by any officers or board members. The executive board approves of the hiring and compensation of all employees.”

“The executive board consist of voting members making decisions on compensation and employment based on recommendations presented by the general board of directors. Salaries are set comparable to the salaries paid by schools of the sames size with regard to student enrollment within the area.”

“Governing documents are available and may be provided upon request. The secretaryof the organization has been authorized to provide these documents. Since this is the intial year for the 990 return the organization has requested an independent accounting firm to prepare financial statements after the close of a fiscal year as required. A current year form 990, financial statements and conflict of interest policy will be provided during the year following the close of a prior year and made available to the public upon request.”

“With regard to the recently amended and restated certificate of formation the assets of the prior 1120 corporation have been distributed to this recently approved 501(c)3 charitable organization. These assets were assumed retroactive to begin the fiscal year and need to be stated as shown so that current depreciation may be shown with regard to the detail and asset list assumed by this organization.”