Saint Jerome Institute Inc.

“There are no committees that have the authority to act on behalf of the board.”

“The form 990 is prepared by the organization's independent public accounting firm based on information provided by management. Once management has reviewed the filing and any changes incorporated into the document, the form 990 is distributed to all members of the board of directors for their review and comments. The draft 990 is not finalized until the board gives its approval.”

“The board of directors is tasked with overseeing compliance with the conflict of interest policy. Each member, director, officer and member of a committee with board-delegated powers shall annually sign a statement which affirms that such person has read and agrees to the conflict of interest policy. Additionally, the board of directors will hold periodic reviews of both compensation and business arrangements to ensure that the arrangements are reasonable and that they do not result in inurement, impermissible private benefit, or in an excess benefit transaction. If the board of directors or appropriate committee has reasonable cause to believe a member has failed to disclose a financial interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the board of directors or appropriate committee determines that the member has failed to disclose a financial interest, it shall take appropriate disciplinary and corrective action.”

“Saint jerome institute does not pay any compensation to directors for services rendered to the corporation as directors. The saint jerome institute board of directors determines the salaries of officers, management and key employees by reviewing salary schedules for employees from similar local institutions and took into account the cost of living increases based on where potential hires were coming from. The salaries are then approved by the board of directors. If the board delegates power to any officer or officers, then by such officer or officers.”

“Financial statements are provided upon request.”

“St jerome institute has updated their bylaws to include their religious purpose, in which they are a nonprofit religious corporation that is organized under the maryland nonstock corporations law exclusively for religious purposes within the meaning of section 501(c)(3) of the internal recenue code of 1986. St jerome institute has updated their bylaws to indicate that there are no members within the corporation. The directors of st jerome institute will constitute the members of the corporation for section 5-204 of the maryland corporations and associations code, and each director may also exercise the rights and powers of members while serving the director role. St jerome institute has updated their bylaws regarding the vote as well as non-voting directors. Directors will have a 48 hour window after an electronic transmission is sent. If the the 48 hour window passes and the number of directors voting or affirmatively abstaining from voting doesn't constitute a qquorum, the vote is deemed null and void, and a new request for a vote may be transmitted. The headmaster of the st jerome institute will serve as a non-voting director, and is entitled to receive notice of all meetings, to serve on committees of the board as a non-voting member, and to participate in all meetings of the board of directors. The st jerome institute has updated their bylaws to include new committees, as well as the understanding that other committees may be created with membership and functions as the board may create in the future. Current committees currently include an executive committee consisting of no less than three directors that are elected via majority vote to serve until the board determines otherwise. The other committee is a budget committee consisting of no less than two directors and the headmaster, who serves as ex officio budget committee member.”