Tulsa Christian Education Corporation

“Members of the corporation, consisting of families with children attending the school, each have one vote and elect the board trustees by majority vote to serve three year terms. Officers are elected by majority vote of the board of trustees.”

“Line 11a explanation - reviewed and approved by finance commitee”

“Within bylaws: it shall be the responsibility of each trustee, officer and employee to avoid any possible conflict of interest on his/her respective parts. Each contract, transfer, loan, or other transaction (collectively, a "transaction") between the corporation and one or more of its employees, officers or trustees or any other affliate defined below must, as a condition to its being binding on the corporation, be disclosed at a meeting of the trustees and must be specifically approved by the trustees. No such transaction shall be either void or voidable solely because interest trustees are present at the meeting of the board of trustees, or a committee thereof, which authorizes, approves, or ratifies such transaction, or solely because the votes of such interested trustees are counted for such purpose, if: 1. Consent or fairness: the fact of the interest trustees' interest in the transaction or affiliate is disclosed or known to the board of trustees or committee which authorizes, approves, or ratifies the transaction by a vote or consent sufficient for the purpose without counting the votes or consents of such interested trustees, or if the transaction is fair and reasonable to the corporation, or 2. Exemption opinion: an independent advisor appointed by the disinterested trustees finds that the transaction is fair to the corporation and is consistent with the corporation's exemption from federal income taxes, including, without limitation, the requirement that no part of the corporation's assets inure to the benefit of a private person. An "affiliate" is any corporation, firm, association, or entity in which one or more of the trustee is interested, directly or indirectly.”

“The only compensation reported in part vii is compensation for those deemed as officers and key management personnel. Only the top management officials compensation, the headmaster, is independently reviewed and all other officers and key management officials are reviewed by the headmaster.”

“Documents available upon request”

“Process has not changed from prior year.”