TY 2019 Form 990 Schedule O

efile Public Visual Render ObjectId: 202101309349302105 - Submission: 2021-05-10 TIN: 23-1352396

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

LANCASTER COUNTRY DAY SCHOOL

Employer identification number

23-1352396

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 8B	THE EXECUTIVE COMMITTEE MEETS SEPERATELY FROM THE BOARD AS A WHOLE BUT DOES NOT PROVIDE WRITTEN NOTES OF ITS MEETINGS. ALL RECCOMENDATIONS DERIVING FROM EXECUTIVE COMMITTEE MEETINGS ARE DISCUSSED AT ENSUING BOARD MEETINGS.
FORM 990, PART VI, SECTION B, LINE 11B	THE BOARD OF DIRECTORS DELEGATES THE INITIAL REVIEW OF THE FORM 990 TO THE FINANCE COMMITTEE OF THE BOARD, THE CONTROLLER, AND THE BUSINESS MANAGER, ALL OF WHOM HAVE PRACTICAL AND/OR PROFESSIONAL TAX EXPERTISE IN NON-PROFIT MANAGEMENT, ACCOUNTING, AND FEDERAL TAX LAW GOVERNING EXEMPT ORGANIZATIONS. ONCE THE INITIAL REVIEW IS COMPLETE, THE FULL BOARD OF DIRECTORS RECEIVES THE FINAL FORM 990 PRIOR TO THE FORM 990'S FILING WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	THE SCHOOL'S CONFLICT OF INTEREST POLICY AND DISCLOSURE FORM ARE DISTRIBUTED ANNUALLY TO TRUSTEES. THE AUDIT COMMITTEE MAINTAINS ALL THE CONFLICT OF INTEREST DISCLOSURE FORMS. IT REVIEWS THE ANNUAL DISCLOSURES AND RESOLVES ANY POTENTIAL CONFLICTS OF INTEREST THAT MAY ARISE. AN OFFICER OR TURSTEE WHO HAS AN ACTUAL, POTENTIAL, OR THE APPEARANCE OF AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST IN A VOTE SHALL RESCUE HIMSELF OR HERSELF FROM THE VOTE AND ACCOMPANYING DISCUSSION.
FORM 990, PART VI, SECTION B, LINE 15	COMPENSATION FOR THE HEAD OF SCHOOL IS REVIEWED ON AN ANNUAL BASIS BY THE EXECUTIVE COMMITTEE OF THE BOARD. COMPENSATION IS COMPARED TO INDUSTRY STANDARDS TO ENSURE THE HEAD OF SCHOOL'S COMPENSATION IS WITHIN FAIR MARKET RANGE OF THE INDUSTRY. A SIMILAR PROCESS IS PERFORMED FOR OTHER KEY EMPLOYEE'S COMPENSATION INCREASES. DISCUSSIONS ON COMPENSATION ARE RECORDED IN FINANCE COMMITTEE MEETINGS AS WELL AS IN THE BOARD MINUTES.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC.
FORM 990, PART XI, LINE 9:	UNREALIZED GAIN (LOSS) ON INTEREST IN TRUSTS HELD BY THIRD PARTIES -11,462. UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP -770,681. PRIOR PERIOD ADJUSTMENT MADE PER AUDITED FINANCIAL STATEMENTS -306,748.

Return Reference

Explanation

FORM 990, PART VI, SECTION A, LINE 8B

THE EXECUTIVE COMMITTEE MEETS SEPERATELY FROM THE BOARD AS A WHOLE BUT DOES NOT PROVIDE WRITTEN NOTES OF ITS MEETINGS. ALL RECCOMENDATIONS DERIVING FROM EXECUTIVE COMMITTEE MEETINGS ARE DISCUSSED AT ENSUING BOARD MEETINGS.

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

THE BOARD OF DIRECTORS DELEGATES THE INITIAL REVIEW OF THE FORM 990 TO THE FINANCE COMMITTEE OF THE BOARD, THE CONTROLLER, AND THE BUSINESS MANAGER, ALL OF WHOM HAVE PRACTICAL AND/OR PROFESSIONAL TAX EXPERTISE IN NON-PROFIT MANAGEMENT, ACCOUNTING, AND FEDERAL TAX LAW GOVERNING EXEMPT ORGANIZATIONS. ONCE THE INITIAL REVIEW IS COMPLETE, THE FULL BOARD OF DIRECTORS RECEIVES THE FINAL FORM 990 PRIOR TO THE FORM 990'S FILING WITH THE IRS.

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

THE SCHOOL'S CONFLICT OF INTEREST POLICY AND DISCLOSURE FORM ARE DISTRIBUTED ANNUALLY TO TRUSTEES. THE AUDIT COMMITTEE MAINTAINS ALL THE CONFLICT OF INTEREST DISCLOSURE FORMS. IT REVIEWS THE ANNUAL DISCLOSURES AND RESOLVES ANY POTENTIAL CONFLICTS OF INTEREST THAT MAY ARISE. AN OFFICER OR TURSTEE WHO HAS AN ACTUAL, POTENTIAL, OR THE APPEARANCE OF AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST IN A VOTE SHALL RESCUE HIMSELF OR HERSELF FROM THE VOTE AND ACCOMPANYING DISCUSSION.

FORM 990, PART VI, SECTION B, LINE 15

COMPENSATION FOR THE HEAD OF SCHOOL IS REVIEWED ON AN ANNUAL BASIS BY THE EXECUTIVE COMMITTEE OF THE BOARD. COMPENSATION IS COMPARED TO INDUSTRY STANDARDS TO ENSURE THE HEAD OF SCHOOL'S COMPENSATION IS WITHIN FAIR MARKET RANGE OF THE INDUSTRY. A SIMILAR PROCESS IS PERFORMED FOR OTHER KEY EMPLOYEE'S COMPENSATION INCREASES. DISCUSSIONS ON COMPENSATION ARE RECORDED IN FINANCE COMMITTEE MEETINGS AS WELL AS IN THE BOARD MINUTES.

FORM 990, PART VI, SECTION C, LINE 19

THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC.

FORM 990, PART XI, LINE 9:

UNREALIZED GAIN (LOSS) ON INTEREST IN TRUSTS HELD BY THIRD PARTIES -11,462. UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP -770,681. PRIOR PERIOD ADJUSTMENT MADE PER AUDITED FINANCIAL STATEMENTS -306,748.

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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