TY 2018 Form 990 Schedule O

efile Public Visual Render ObjectId: 201903369349301005 - Submission: 2019-12-02 TIN: 21-0727645

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

2018

Open to Public
Inspection

Name of the organization

PRINCETON DAY SCHOOL INC

Employer identification number

21-0727645

Return Reference	Explanation
FORM 990, PART IV, LINE 11F:	THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740) SO THIS DISCLOSURE IS NO LONGER REQUIRED BASED ON RECENT GUIDANCE BY THE AICPA.
FORM 990, PART VI, SECTION A, LINE 1	THERE SHALL BE AN EXECUTIVE COMMITTEE OF NOT FEWER THAN SEVEN NOR MORE THAN ELEVEN MEMBERS WHICH SHALL INCLUDE THE CHAIR, THE VICE CHAIR(S), THE TREASURER, THE SECRETARY, THE HEAD OF SCHOOL AND SUCH OTHER MEMBERS OF THE BOARD AS THE CHAIR OF THE BOARD SHALL APPOINT. DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, THE EXECUTIVE COMMITTEE MAY EXERCISE THE POWERS OF THE BOARD OF TRUSTEES EXCEPT THAT THE COMMITTEE SHALL NOT HAVE THE POWER TO: (1) MAKE, ALTER OR REPEAL ANY BYLAWS, ELECT OR APPOINT ANY TRUSTEE, (2) REMOVE ANY OFFICER OR TRUSTEE, OR (3) REPEAL OR AMEND ANY RESOLUTION PREVIOUSLY ADOPTED BY THE BOARD.
FORM 990, PART VI, SECTION B, LINE 11B	THE BOARD OF TRUSTEES IS PROVIDED A FINAL COPY OF THE FORM 990 AND ALL REQUIRED SCHEDULES THAT ARE AVAILABLE TO THE PUBLIC PRIOR TO ITS FILING. THE FORM 990 AND ALL REQUIRED SCHEDULES THAT ARE AVAILABLE TO THE PUBLIC ARE REVIEWED AND APPROVED AT A MEETING OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO BEING MADE AVAILABLE TO THE ENTIRE BOARD. ANY QUESTIONS REGARDING THE CONTENTS OF THE RETURN ARE ADDRESSED AT THAT MEETING.
FORM 990, PART VI, SECTION B, LINE 12C	EACH BOARD OF TRUSTEE AND NON-TRUSTEE BOARD COMMITTEE MEMBER IS REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. TRUSTEES AND COMMITTEE MEMBERS ARE ALSO REQUIRED TO REVIEW AND SIGN A COMPLIANCE QUESTIONNAIRE IN REGARDS TO THE CONFLICT OF INTEREST POLICY. TRUSTEES AND COMMITTEE MEMBERS ARE EXPECTED TO KEEP THE BOARD CHAIR INFORMED OF ANY POTENTIAL CONFLICTS OF INTEREST REGARDING BUSINESS AFFAIRS OF THE SCHOOL. WHETHER A CONFLICT OF INTEREST EXISTS SHALL BE DETERMINED BY THE BOARD CHAIR IN CONSULT WITH THE CHAIR OF THE COMMITTEE ON TRUSTEES. IF A CONFLICT DOES EXIST, THAT TRUSTEE OR COMMITTEE MEMBER MUST DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. SAID TRUSTEE OR COMMITTEE MEMBER MAY NOT PARTICIPATE IN THE BOARD'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND RESPOND TO QUESTIONS. THE TRUSTEE OR COMMITTEE MEMBER WILL LEAVE THE MEETING DURING THE DISCUSSION OF THE MATTER RESULTING IN THE CONFLICT. PERSONS COVERED BY THE CONFLICT OF INTEREST POLICY INCLUDE TRUSTEES, COMMITTEE MEMBERS AND THEIR FAMILIES.
FORM 990, PART VI, SECTION B, LINE 15A	COMPARABLE SALARY INFORMATION IS GATHERED FROM NATIONAL AND REGIONAL ASSOCIATIONS AND IS USED IN DETERMINING THE SALARIES FOR THE HEAD OF SCHOOL AND SENIOR LEADERSHIP TEAM. THE REVIEW OF COMPENSATION IS DONE ON AN ANNUAL BASIS. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS CHARGED WITH DETERMINING COMPENSATION FOR THE HEAD OF SCHOOL BASED ON DATA FROM OTHER COMPARABLE INSTITUTIONS AND ON EVALUATION OF THE HEAD OF SCHOOL'S PERFORMANCE. THE HEAD OF SCHOOL'S PERFORMANCE IS EVALUATED ANNUALLY THROUGH A PROCESS MANAGED BY THE BOARD CHAIR WITH INPUT FROM ALL MEMBERS OF THE BOARD. SALARY FOR THE SENIOR LEADERSHIP TEAM IS DETERMINED ON AN ANNUAL BASIS AS A PART OF A FORMAL PERFORMANCE APPRAISAL. COMPARABLE SALARY INFORMATION IS GATHERED BY THE HEAD OF SCHOOL WHO PERFORMS THE ANNUAL PERFORMANCE APPRAISAL AND DETERMINES AN APPROPRIATE SALARY. EMPLOYEES ARE REQUIRED TO SIGN AN EMPLOYMENT CONTRACT WITH PRINCETON DAY SCHOOL ON AN ANNUAL BASIS THAT INCLUDES COMPENSATION INFORMATION. THE CONTRACT IS MAINTAINED IN THE EMPLOYEE'S PERSONNEL FILE
FORM 990, PART VI, SECTION C, LINE 19	THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS MAY BE MADE AVAILABLE FOR REVIEW UPON REQUEST. AS SUCH DOCUMENTS ARE NOT REQUIRED TO BE MADE PUBLICLY AVAILABLE, EACH REQUEST IS REVIEWED AND EITHER APPROVED OR DENIED ON AN INDIVIDUAL BASIS.
FORM 990, PART VI, SECTION B, LINE 14:	ALTHOUGH THE SCHOOL DOES NOT HAVE A FORMAL, WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY, THE SCHOOL USES FEDERAL AND STATE GUIDELINES IN REGARDS TO MAINTAINING ALL BUSINESS DOCUMENTATION.

Return Reference

Explanation

FORM 990, PART IV, LINE 11F:

THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740) SO THIS DISCLOSURE IS NO LONGER REQUIRED BASED ON RECENT GUIDANCE BY THE AICPA.

FORM 990, PART VI, SECTION A, LINE 1

THERE SHALL BE AN EXECUTIVE COMMITTEE OF NOT FEWER THAN SEVEN NOR MORE THAN ELEVEN MEMBERS WHICH SHALL INCLUDE THE CHAIR, THE VICE CHAIR(S), THE TREASURER, THE SECRETARY, THE HEAD OF SCHOOL AND SUCH OTHER MEMBERS OF THE BOARD AS THE CHAIR OF THE BOARD SHALL APPOINT. DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, THE EXECUTIVE COMMITTEE MAY EXERCISE THE POWERS OF THE BOARD OF TRUSTEES EXCEPT THAT THE COMMITTEE SHALL NOT HAVE THE POWER TO: (1) MAKE, ALTER OR REPEAL ANY BYLAWS, ELECT OR APPOINT ANY TRUSTEE, (2) REMOVE ANY OFFICER OR TRUSTEE, OR (3) REPEAL OR AMEND ANY RESOLUTION PREVIOUSLY ADOPTED BY THE BOARD.

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

THE BOARD OF TRUSTEES IS PROVIDED A FINAL COPY OF THE FORM 990 AND ALL REQUIRED SCHEDULES THAT ARE AVAILABLE TO THE PUBLIC PRIOR TO ITS FILING. THE FORM 990 AND ALL REQUIRED SCHEDULES THAT ARE AVAILABLE TO THE PUBLIC ARE REVIEWED AND APPROVED AT A MEETING OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO BEING MADE AVAILABLE TO THE ENTIRE BOARD. ANY QUESTIONS REGARDING THE CONTENTS OF THE RETURN ARE ADDRESSED AT THAT MEETING.

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

EACH BOARD OF TRUSTEE AND NON-TRUSTEE BOARD COMMITTEE MEMBER IS REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. TRUSTEES AND COMMITTEE MEMBERS ARE ALSO REQUIRED TO REVIEW AND SIGN A COMPLIANCE QUESTIONNAIRE IN REGARDS TO THE CONFLICT OF INTEREST POLICY. TRUSTEES AND COMMITTEE MEMBERS ARE EXPECTED TO KEEP THE BOARD CHAIR INFORMED OF ANY POTENTIAL CONFLICTS OF INTEREST REGARDING BUSINESS AFFAIRS OF THE SCHOOL. WHETHER A CONFLICT OF INTEREST EXISTS SHALL BE DETERMINED BY THE BOARD CHAIR IN CONSULT WITH THE CHAIR OF THE COMMITTEE ON TRUSTEES. IF A CONFLICT DOES EXIST, THAT TRUSTEE OR COMMITTEE MEMBER MUST DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. SAID TRUSTEE OR COMMITTEE MEMBER MAY NOT PARTICIPATE IN THE BOARD'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND RESPOND TO QUESTIONS. THE TRUSTEE OR COMMITTEE MEMBER WILL LEAVE THE MEETING DURING THE DISCUSSION OF THE MATTER RESULTING IN THE CONFLICT. PERSONS COVERED BY THE CONFLICT OF INTEREST POLICY INCLUDE TRUSTEES, COMMITTEE MEMBERS AND THEIR FAMILIES.

FORM 990, PART VI, SECTION B, LINE 15A

COMPARABLE SALARY INFORMATION IS GATHERED FROM NATIONAL AND REGIONAL ASSOCIATIONS AND IS USED IN DETERMINING THE SALARIES FOR THE HEAD OF SCHOOL AND SENIOR LEADERSHIP TEAM. THE REVIEW OF COMPENSATION IS DONE ON AN ANNUAL BASIS. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS CHARGED WITH DETERMINING COMPENSATION FOR THE HEAD OF SCHOOL BASED ON DATA FROM OTHER COMPARABLE INSTITUTIONS AND ON EVALUATION OF THE HEAD OF SCHOOL'S PERFORMANCE. THE HEAD OF SCHOOL'S PERFORMANCE IS EVALUATED ANNUALLY THROUGH A PROCESS MANAGED BY THE BOARD CHAIR WITH INPUT FROM ALL MEMBERS OF THE BOARD. SALARY FOR THE SENIOR LEADERSHIP TEAM IS DETERMINED ON AN ANNUAL BASIS AS A PART OF A FORMAL PERFORMANCE APPRAISAL. COMPARABLE SALARY INFORMATION IS GATHERED BY THE HEAD OF SCHOOL WHO PERFORMS THE ANNUAL PERFORMANCE APPRAISAL AND DETERMINES AN APPROPRIATE SALARY. EMPLOYEES ARE REQUIRED TO SIGN AN EMPLOYMENT CONTRACT WITH PRINCETON DAY SCHOOL ON AN ANNUAL BASIS THAT INCLUDES COMPENSATION INFORMATION. THE CONTRACT IS MAINTAINED IN THE EMPLOYEE'S PERSONNEL FILE

FORM 990, PART VI, SECTION C, LINE 19

THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS MAY BE MADE AVAILABLE FOR REVIEW UPON REQUEST. AS SUCH DOCUMENTS ARE NOT REQUIRED TO BE MADE PUBLICLY AVAILABLE, EACH REQUEST IS REVIEWED AND EITHER APPROVED OR DENIED ON AN INDIVIDUAL BASIS.

FORM 990, PART VI, SECTION B, LINE 14:

ALTHOUGH THE SCHOOL DOES NOT HAVE A FORMAL, WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY, THE SCHOOL USES FEDERAL AND STATE GUIDELINES IN REGARDS TO MAINTAINING ALL BUSINESS DOCUMENTATION.

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

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2018

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