Riverside Academy Inc.

“Payment of Compensation:The spouses of two Board Members are employed by the school. Both are compensated at rates which are comparable to non-related employees. The spouses and amounts of annual compensation are: 1. Chantelle Epperly, spouse of Dennis Epperly $24,283.2. Crystal Millet, spouse of Steven Millet $23,674.The Principal of the School is a Board Member:1. Michael Coburn $80,000.Board Member:1. Pamela Orgeron was paid $1,320 for substitute teaching”

“Each family registering a child is considered a member. The membership is valid as long as a child is registered at Riverside Academy. If a member no longer has a child registered at Riverside Academy, the member will be charged annual dues of $25. Stockholders of the former Riverside Academy for-profit corporation are considered lifetime members. The lifetime membership may be transferred to another eligible individual for a fee of $25.”

“At the annual Member Meeting, the members nominate and vote on candidates for expiring positions on the Board of Directors.”

“Changes to the Bylaws require approval by a vote of the members.”

“Each member of the Finance Committee reviews the Form 990. The Finance Committee communicates its approval to the Board and President.”

“Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a. Has received a copy of the conflicts of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy, and d. Understands the Organization 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-exempt purposes. To ensure the Organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews are conducted. The periodic reviews at a minimum, include the following subjects: a. Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. b. Whether partnerships, joint ventures, and arrangements with management organizations conform to the Organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction. When conducting the periodic reviews, the Organization may, but need not, use outside advisors. If outside experts are used, their use does not relieve the governing board of its responsibility for ensuring periodic reviews are conducted.”

“Upon hiring the principal, the Board agreed to pay him approximately what principals were being paid in surrounding parishes. There has been a cost of living increase each year thereafter.”

“All governance documents and financial statements are available for review during normal business hours in the Administrative Office of the School.”

“Rev. Proc. 2021-48forgiveness of paycheck protection program loansriverside academy, inc.72-0691644332 railroad avenuereserve, la 70084-6623applying section 3.01(1) of rev. Proc. 2021-48 for the year ended 5/31/2021.tax-exempt income from ppp forgiveness treated as received/accrued: $411,478.forgiveness of the ppp loan has been granted as of the date the return is filed.”

“FORM 990,PART VI,LINE 2-BUSINESS OR FAMILY RELATIONSHIP OF OFFICERS, DIRECTORS, ETC.PAYMENT OF COMPENSATION:THE SPOUSES OF THREE BOARD MEMBERS ARE EMPLOYED BY THE SCHOOL. aLL THREE ARE COMPENSATED AT RATES WHICH ARE COMPARABLE TO NON-RELATED EMPLOYEES. THE SPOUSES ANDAMOUNTS OF ANNUAL COMPENSATION ARE: 1. LINDSAY GUIDRY, WIFE OF JOSEPH GUIDRY $36,6252. CRYSTAL MILLET, WIFE OF STEVEN MILLET $24,600 3. AMY ST PIERRE, WIFE OF SHAWN PIERRE 5,250FORMER BOARD MEMBER:1. PAMELA ORGERON WAS PAID $687 FOR SUBSTITUTE TEACHINGFORM 990, PART VI, LINE 6 EXPLANATION OF CLASSES OF MEMBERS OR SHAREHOLDERSEACH FAMILY REGISTERING A CHILD IS CONSIDERED A MEMBER. THE MEMBERSHIP IS VALID ASLONG AS A CHILD IS REGISTERED AT RIVERSIDE ACADEMY. IF A MEMBER NO LONGER HAS A CHILD REGISTERED AT RIVERSIDE ACADEMY, THE MEMBER WILL BE CHARGED ANNUAL DUES OF$25. STOCKHOLDERS OF THE FORMER RIVERSIDE ACADEMY FOR-PROFIT CORPORATION ARE CONSIDERED LIFETIME MEMBERS. THE LIFETIME MEMBERSHIP MAY BE TRANSFERRED TO ANOTHERELIGIBLE INDIVIDUAL FOR A FEE OF $25.FORM 990, PART VI, LINE 7A - HOW MEMBERS OR SHAREHOLDERS ELECT THE GOVERNING BODYAT THE ANNNUAL MEMBER MEETING, THE MEMBERS NOMINATE AND VOTE ON CANDIDATES FOR EXPIRING POSITIONS ON THE BOARD OF DIRECTORS.FORM 990, PART VI, LIBE 7B - DECISIONS OF GOVERNING BODY BY MEMBERS OR SHAREHOLDERSCHANGES TO THE BYLAWS REQUIRE APPROVAL BY A VOTE OF THE MEMBERS.FORM 990, PARTVI, LINE 11B - FORM 990 REVIEW PROCESSEACH MEMBER OF THE FINANCE COMMITTEE REVIEWS THE FORM 990. THE FINANCE COMMITTEECOMMUNICATES ITS APPROVAL TO THE BOARD OF DIRECTORS AND PRESIDENT.FORM 990, PART VI, LINE 12C - EXPLANATION OF MONITORING AND ENFORCEMENT OF CONFLICTSEACH DIRECTOR, PRINCIPAL OFFICER, AND MEMBER OF A COMMITTEE WITH GOVERNING BOARDDELAGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A, HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY, AND D. UNDERSTANDS THE ORGANIZATIONIS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGEPRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX EXEMPT PURPOSES. TOENSURE THE ORGANIZATON OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES ANDDOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODICREVIEWS ARE CONDUCTED. THE PERIODIC REVIEWS AT A MINIMUM, INCLUDE THE FOLLOWINGSUBJECTS: A. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ONCOMPETENT SURVEY INFORMATION, AND THE RESULT OD ARM'S LENGTH BARGAINING. B. WHETHERPARTNERSHPS, JOINT VENTURES, AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS CONFORMTO THE ORGANIZATION'S WRIITEN POLICES, ARE PROPERLY RECORDED, REFLECT REASONABLEIVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DONOT RESULT IN INUREMENT, IMPERMISSABLE PRIVATE BENEFIT OR IN AN EXCESS BENEFITTRANSACTION, WHEN CONDUCTING THE PERIODIC REVIEWS, THE ORGANIZATION MAY, BUT NEEDNOT, USE OUTSIDE ADVISORS, IF OUTSIDE EXPERTS ARE USED, THEIR USE DOES NOR RELIEVETHE GOVERNINNG BOARD OF ITSRESPONSIBILITY FOR ENSURING PERIODIC REVIEWS ARECONDUCTED.FORM 990,PART VI,LINE 15B-COMPENSATION REVIEW & APPROVAL PROCESS-OFFICERS & KEY EMPLOYEESUPON HIRING THE PRINCIPAL, THE BOARD AGREED TO PAY HIM APPROXIMATELY WHAT PRINCIPALSWERE BEING PAID IN SURROUNDING PARISHES. tHERE HAS BEEN A COST OF LIVING INCREASEEACH YEAR THEREAFTER.FORM 990,PART VI, LINE 19-OTHER ORGANIZATION DOCUMENTS PUBLICLY AVAILABLEALL GOVERNANCE DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE FOR REVIEW DURINGNORMAL BUSINESS HOURS IN THE ADMINISTRATION OFFICE OF THE SCHOOL.”