Springwell School Inc.

“Any officer, director, trustee or key employee had a family relationship or business relationship with any other officer, director, trustee or key employee. Entity president daniel oliver and head of school gloria chan are married to each other.”

“The organization adopted a qualified employee tuition waiver plan”

“A copy of form 990 was provided to the organization's governing body before it was filed. The governing body members were given 15-days to provide notice to the president should any item included in the draft form 990 be inaccurate. Should there be any revisions needed to the draft form 990, the governing body members were given 15-days to provide notice to the president should any item included in the revised draft form 990 be inaccurate. Once all concerns of the governing body members be satisfied, the form 990 is approved for filing.”

“In accordance with the conflict of interest policy: - each voting member of the board shall annually sign a statement which declares whether such person is an independent director and whether such voting member has a financial interest - if ay any time during the year, the information in the annual statement changes materially, the director shall disclose such changes and revise the annual disclosure form - the board or the executive committee of the board shall regularly and consistently monitor and enforce compliance with this policy by reviewing annual statements and taking such actions as are necessary for effective oversight to ensure the corporation operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the followin subjects: - whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining, and - whether partnerships, joint ventures, and arrangements with management organizations conform to the corporations 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 an excess benefit transaction.”

“The springwell school inc has made all documents which should be available to the public available at the office of the school”

“Faculty consultants & teachers: program service expenses 64,681. Management and general expenses 8,500. Fundraising expenses 0. Total expenses 73,181. Gifts/staff appreciation: program service expenses 68. Management and general expenses 333. Fundraising expenses 220. Total expenses 621. Other professional services: program service expenses 10,181. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,181. Payroll processing fees: program service expenses 1,048. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,048. Taxes - other: program service expenses 0. Management and general expenses 136. Fundraising expenses 0. Total expenses 136. Virtual assistance: program service expenses 0. Management and general expenses 20,772. Fundraising expenses 0. Total expenses 20,772.”

“Accounts receivable 38,631. Other current assets -12,395. Accounts payable -22,508. Other current liabilities 15,694. Paycheck protection program loan forgiven 16,847. Prior period and reconciling adjustment -1,949. Employee retention credit -45,658.”