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FORM 990, PART VI, SECTION B, LINE 11B | THE DRAFT OF THE FORM 990 IS REVIEWED AND APPROVED BY THE RISK MANAGEMENT COMMITTEE PRIOR TO FILING. THE FORM 990 IS ALSO MADE AVALIABLE TO THE ENTIRE BOARD PRIOR TO FILING. |
FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY WAS ORIGINALLY APPROVED BY THE BOARD IN 1998 AND WAS MOST RECENTLY AMENDED IN 2007. THE POLICY IS DISTRIBUTED AT THE BEGINNING OF EACH YEAR TO ALL BOARD MEMBERS AND IS INCLUDED IN THE BOARD OF TRUSTEES MANUAL. THE POLICY REQUIRES THE BOARD MEMBER TO ATTEST THEY HAVE NOT HELD ANY OFFICE OR DIRECTORSHIP OR HAVE A PERSONAL FINANCIAL INTEREST, DIRECTLY OR INDIRECTLY, IN ANY CORPORATION, PARTNERSHIP OR ENTITY WHICH TRANSACTS BUSINESS WITH PARISH EPISCOPAL SCHOOL (THE SCHOOL), THEY DO NOT INDIVIDUALLY TRANSACT ANY BUSINESS, DIRECTLY OR INDIRECTLY, WITH THE SCHOOL AND ARE NOT RELATED TO ANY INDIVIDUAL IN THE EMPLOY OF THE SCHOOL OR DOING BUSINESS WITH THE SCHOOL. AT EACH COMMITTEE AND BOARD MEETING, MEMBERS ARE EXPECTED TO COMPLY WITH THE POLICY. ANY BOARD MEMBERS WITH A POTENTIAL CONFLICT OF INTEREST ARE EXPECTED TO RECUSE THEMSELVES FROM ANY RELEVANT ISSUE AND THE RECUSAL IS REFLECTED IN THE MINUTES OF THAT MEETING. |
FORM 990, PART VI, SECTION B, LINE 15 | THE HEAD OF SCHOOL'S COMPENSATION IS OUTLINED IN HIS 3 YEAR CONTRACT. EACH YEAR THE EXECUTIVE COMMITTEE REVIEWS THE HEAD OF SCHOOL'S PERFORMANCE AND GOALS AND AN ANNUAL MERIT ADJUSTMENT IS MADE TO HIS COMPENSATION. THE CHIEF FINANCIAL OFFICER'S COMPENSATION IS BASED UPON EXPERIENCE UPON HIRE AND RECEIVES THE MERIT INCREASE FOR STAFF AS ESTABLISHED ANNUALLY BY THE BOARD OF TRUSTEES. |
FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE SCHOOL COMMUNITY (EMPLOYEES, VOLUNTEER LEADERSHIP, TRUSTEES) BUT NOT TO THE GENERAL PUBLIC OUTSIDE THE SCHOOL COMMUNITY. |
FORM 990, PART XI, LINE 9: | CHANGE IN FAIR MARKET VALUE OF INTEREST SWAP -912,994. |
FORM 990, PART XII, LINE 2C: | THE FINANCIAL REPORTING OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
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