Grace Academy of Georgetown

“The form 990 is reviewed by the finance committee prior to filing.”

“Conflict of interest statements are completed and reviewed annually. All officers, directors or trustees, and key employees complete a questionnaire regarding conflicts of interest.”

“Wages for all employees, including top management, are approved by vote of the board of directors annually based on wage history, industry standards, and qualifications of the employee.”

“Key employee compensation is set by the board. Payment activity is reconciled regularly.”

“Governing documents are available upon request. Financial statements are discussed at the annual meeting.”

“Financial assistance-the school seeks to support its other primary program services through need-based financial assistance to families. Need is determined using the assistance of an outside financial aid assessment company and their widely-used methodology for assessing financial need. A financial aid committee reviews the assessment from the outside company and makes financial aid awards. The committee is comprised of independent members of the school community who serve on a multi-year volunteer basis. Committee members are independent of the financial aid awarding process, being ineligible to receive financial assistance while serving on the committee. Committee members remain unbiased in their assessment and decision-making processes as all documents reviewed by the committee have identifying information removed from the files (e.g. Names, addresses, ethnicity, etc.) the committee functions under the school's policy prohibiting unlawful discrimination in the financial aid awarding process. The amount of assistance given in the current year was 428,256. It is included in discounts and scholarships on page 9, part viii, line 2a.”