Form 990, Part VI, Section B, Line 11b |
A draft of the Form 990 without Schedule B was distributed electronically to each member of the Audit Committee. After a thorough review, the Committee had an opportunity to ask questions and suggest revisions during a group conference call. The draft was also posted to a secure electronic portal, accessible by the full Board, prior to filing. |
Form 990, Part VI, Section B, Line 12c |
All school officers, key employees, and members of the Board of Trustees are required annually to read the conflict-of-interest policy and sign the document. The signature indicates an understanding of the guidelines and an assurance to the Board that they are in compliance with the policy. Any potential conflict must be disclosed and reviewed by the President of the Board to determine if further action is required. Any identified conflict will prohibit such individuals from participation in the governing body's deliberations and transaction decisions related to the conflict. |
Form 990, Part VI, Section B, Line 15 |
An employment contract between the Headmaster and the school is updated periodically and renewed annually. Each year, the President of the Board and the Compensation Committee review the Headmaster's and other senior administrator's salaries and benefits. The salary survey provided by the Association of Business Officers of Preparitory Schools is used as a guide and a point of comparison. The annual salary and benefit offerings for the Chief Financial Officer are made by the Headmaster. All salaries and benefit offerings for the remaining school employees are updated annually and approved by the Chief Financial Officer or the Headmaster up to the aggregate salary approved by the Board of Trustees. |
Form 990, Part VI, Section C, Line 19 |
The Form 990 without Schedule B can be viewed on-line by going to guidestar.org, an independently operated website. The conflict of interest policy, governing documents, and financial statements may be viewed any time upon request for the same period of disclosure set forth in Section 6104(d). |
Form 990, Part XI, Line 9 |
Change in value of interest rate swap agreements 3,913,093, accrued pension liability 2,087,149, change in value of split interest agreements 1,268,250, and recovery of uncollectable pledges 34,976. |