Form 990, Part VI, Line 1a: Explanation of Delegated Broad Authority to Committee |
The Executive Committee consists of the Chair, the Vice Chair, the President and the two most immediate former chairs of the Board of Trustees. In addition, the Board may elect not more than 4 additional members of the Board of Trustees to serve on the Executive Committee. All members of the Executive Committee are members of the Board of Trustees. The Executive Committee has all of the powers and authority of the Board of Trustees. |
Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et |
Mary Eliza Shaper, Trustee, is the daughter of Mary Nell Lovett, Life Trustee. |
Form 990, Part VI, Line 11b: Form 990 Review Process |
The Form 990 is reviewed by the Chair of the Board of Trustees, the Chair of the Finance Committee, the Headmaster, and the Chief Financial Officer. The Form is made available to all trustees before filing. |
Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts |
A conflict of interest disclosure is completed annually by all officers, directors, trustees, and key employees. |
Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management |
During 2017-2018, the School's headmaster was in the fifth, and final year, of his employment contract. The terms of the employment contract were based on comparative data provided by the National Association of Independent Schools (NAIS) and the Independent School Association of the SW (ISAS). The contract was negotiated by a compensation committee of the board. |
Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees |
The headmaster determines the salaries of other key employees in consultation with the compensation committee using comparative data provided by NAIS and ISAS. |
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
The School provides copies of documents at no charge upon request. |
Other Changes In Net Assets Or Fund Balances - Other Increases |
Adjustment to minimum pension liability = $2747346 |
Other Changes In Net Assets Or Fund Balances - Other Decreases |
Clean-up and repair expenses resulting from Hurricane Harvey = -$26175 |
Other Changes In Net Assets Or Fund Balances - Other Increases |
Insurance proceeds related to Hurricane Harvey losses = $674228 |
Other Changes In Net Assets Or Fund Balances - Other Decreases |
Property and equipment loss resulting from Hurricane Harvey = -$208607 |