Midland Classical Academy

“Mr. Tim Dunn, Chairman of the Board of Midland Classical Academy and the Administrator, Kathi Prescott, are related by marriage. Tim Dunn's wife is Kathi Prescott's sister. The Administrator does not work directly for the Chairman of the Board.”

“Tax Preparer sends a copy of the Form 990 to the Chairman of the Board prior to final preparation for his approval of all line items. Also to approve the answers to all questions. Once the tax return is reviewed, it is returned to the Tax Preparer to make any corrections and to finalize the Form 990. After the Form 990 has been updated and finalized , the tax return is taken to the School Administrator for her review and signature. Form 990 is processed and copies made of the Form 990 along with audit reports and financials and mailed directly to the homes of the remaining Trustees.”

“The 5 Board Trustees and the 3 Key Employees have interactions and communications between themselves and the faculty, students, and parents. These communications are continuous and ongoing. It would be reported immediately if any person or persons thought there was a conflict of interest as stated in the handbooks given to each student and family.”

“No Officers or Trustees receive any compensation. These duties and positions are performed by Volunteers for a specific period of time. For the key employees of Administrator, Dean of Students, and Grammar School Principal, a projection of students and income for the year determines the funds that are available for the Key Employees and the other members of the faculty.”

“The Trustees make final approval of the budget which includes the salaries and compensation benefits. This approval is documented in the Minutes of the Board Meeting.”

“All policies and Year-End Financials are available to the public upon request.”

“The minutes of all Board Meetings are recorded by the Board Secretary.”

“The only standing committee of the Board is the Executive Committee.The Executive Committee's supervisory and budgeting activities are of a monitoring and advisory nature. They are authorized to interpret and direct, but not alter, policy and current budgets within a 10% tolerance as well as supervise the staff leaders. Other committees are appointed on an as-needed basis. All committees report back to the Board and actions are reflected in the Board Minutes as appropriate. The Executive Committee consists of 4 of the 5 Trustees.”

“A change in book value was the 50% meals that were not allowed as a deduction.”

“COPIES INCOME”

“Guest speaker insurance professional dues tuition not paid/bad debt employee leasing expense property tax bank & brokerage fees”

“Academic meet 2563. 2563. 0. 0. Alarm,fire & pest control 15831. 15831. 0. 0. Apparel expense 19804. 19804. 0. 0. Awards ceremony 6253. 6253. 0. 0. Bank fees 72. 0. 72. 0. Banquet expense 4464. 4464. 0. 0. Bus registration 2838. 0. 2838. 0. Cleaning fees & supplies 26433. 26433. 0. 0. Contract work 19120. 19120. 0. 0. Directory expense 20. 20. 0. 0. End of school expense 1229. 1229. 0. 0. Fine arts supplies 3294. 3294. 0. 0. Flowers & gifts 156. 0. 156. 0. Grading system fees 5876. 5876. 0. 0. G”