TY 2019 Form 990 Schedule O

efile Public Visual Render ObjectId: 202111539349301116 - Submission: 2021-06-02 TIN: 41-0979871

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2019

Open to Public
Inspection

Name of the organization

GROVES ACADEMY

Employer identification number

41-0979871

Return Reference	Explanation
FORM 990, PART VI, SECTION B, LINE 11B	THE BOARD FINANCE/AUDIT COMMITTEE WILL PROVIDE OVERSIGHT TO THE ANNUAL PREPARATION OF FORM 990. THIS COMMITTEE IS RESPONSIBLE TO PROVIDE PERIODIC REPORTS AND UPDATES TO THE BOARD OF TRUSTEES. PRIOR TO FILING FORM 990, EACH VOTING MEMBER OF THE BOARD OF TRUSTEES WILL BE PROVIDED A FULL COPY OF FORM 990 AND THE OPPORTUNITY TO COMMENT.
FORM 990, PART VI, SECTION B, LINE 12C	EACH DIRECTOR, OFFICER AND MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS SHALL COMPLETE, SIGN AND DELIVER TO THE CHAIR A CONFLICTS OF INTEREST POLICY STATEMENT AT THE TIME OF INITIAL ELECTION OR APPOINTMENT AND ANNUALLY THEREAFTER.
FORM 990, PART VI, SECTION B, LINE 15	COMPENSATION AND BENEFITS FOR THE PRESIDENT AND OTHER KEY EMPLOYEES ARE REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD. COMPENSATION LEVELS ARE DETERMINED AFTER CONSIDERING THE COMPETITIVE MARKET IN WHICH GROVES COMPETES FOR TALENT, THE INSTITUTION'S PROGRESS IN FULFILLING ITS MISSION, AND PERFORMANCE FEEDBACK GATHERED FROM THE COMMITTEE AND OTHER KEY CONSTITUENCIES. COMPENSATION DECISIONS FOR THE PRESIDENT ARE DETERMINED AND APPROVED BY THE EXECUTIVE COMMITTEE. COMPENSATION DECISIONS FOR OTHER KEY EMPLOYEES ARE RECOMMENDED BY THE PRESIDENT AND REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION MAKES IT'S AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC THROUGH THE CHARITIES DIVISION OF THE MINNESOTA ATTORNEY GENERAL'S OFFICE.
PART 12;LINE 2C	THE BUDGET AND FINANCE COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR REVIEWING THE AUDITED FINANCIAL STATEMENTS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
FORM 4562	GROVES ACADEMY, HEREBY ELECTS, PURSUANT TO IRC SEC. 168(K)(2)(D)(III), NOT TO CLAIM THE ADDITIONAL DEPRECIATION ALLOWABLE UNDER IRC SEC. 168(K) FOR THE FOLLOWING QUALIFYING PROPERTY PLACED IN SERVICE DURING THE TAX YEAR ENDING AUGUST 31, 2020. ALL PROPERTY IN THE 3 YEAR CLASS ALL PROPERTY IN THE 5 YEAR CLASS ALL PROPERTY IN THE 10 YEAR CLASS SEE ATTACHED FORM 4562
FORM 4562	FOR THE YEAR ENDING AUGUST 31, 2020 GROVES ACADEMY IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC. 1.263(A)-1(F).

Return Reference

Explanation

FORM 990, PART VI, SECTION B, LINE 11B

THE BOARD FINANCE/AUDIT COMMITTEE WILL PROVIDE OVERSIGHT TO THE ANNUAL PREPARATION OF FORM 990. THIS COMMITTEE IS RESPONSIBLE TO PROVIDE PERIODIC REPORTS AND UPDATES TO THE BOARD OF TRUSTEES. PRIOR TO FILING FORM 990, EACH VOTING MEMBER OF THE BOARD OF TRUSTEES WILL BE PROVIDED A FULL COPY OF FORM 990 AND THE OPPORTUNITY TO COMMENT.

FORM 990, PART VI, SECTION B, LINE 12C

EACH DIRECTOR, OFFICER AND MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS SHALL COMPLETE, SIGN AND DELIVER TO THE CHAIR A CONFLICTS OF INTEREST POLICY STATEMENT AT THE TIME OF INITIAL ELECTION OR APPOINTMENT AND ANNUALLY THEREAFTER.

FORM 990, PART VI, SECTION B, LINE 15

COMPENSATION AND BENEFITS FOR THE PRESIDENT AND OTHER KEY EMPLOYEES ARE REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD. COMPENSATION LEVELS ARE DETERMINED AFTER CONSIDERING THE COMPETITIVE MARKET IN WHICH GROVES COMPETES FOR TALENT, THE INSTITUTION'S PROGRESS IN FULFILLING ITS MISSION, AND PERFORMANCE FEEDBACK GATHERED FROM THE COMMITTEE AND OTHER KEY CONSTITUENCIES. COMPENSATION DECISIONS FOR THE PRESIDENT ARE DETERMINED AND APPROVED BY THE EXECUTIVE COMMITTEE. COMPENSATION DECISIONS FOR OTHER KEY EMPLOYEES ARE RECOMMENDED BY THE PRESIDENT AND REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE.

FORM 990, PART VI, SECTION C, LINE 19

THE ORGANIZATION MAKES IT'S AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC THROUGH THE CHARITIES DIVISION OF THE MINNESOTA ATTORNEY GENERAL'S OFFICE.

PART 12;LINE 2C

THE BUDGET AND FINANCE COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR REVIEWING THE AUDITED FINANCIAL STATEMENTS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.

FORM 4562

GROVES ACADEMY, HEREBY ELECTS, PURSUANT TO IRC SEC. 168(K)(2)(D)(III), NOT TO CLAIM THE ADDITIONAL DEPRECIATION ALLOWABLE UNDER IRC SEC. 168(K) FOR THE FOLLOWING QUALIFYING PROPERTY PLACED IN SERVICE DURING THE TAX YEAR ENDING AUGUST 31, 2020. ALL PROPERTY IN THE 3 YEAR CLASS ALL PROPERTY IN THE 5 YEAR CLASS ALL PROPERTY IN THE 10 YEAR CLASS SEE ATTACHED FORM 4562

FORM 4562

FOR THE YEAR ENDING AUGUST 31, 2020 GROVES ACADEMY IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC. 1.263(A)-1(F).

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2019

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