TY 2022 Form 990 Schedule O

efile Public Visual Render ObjectId: 202343159349301834 - Submission: 2023-11-11 TIN: 06-0646674

SCHEDULE O
(Form 990)

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

2022

Open to Public
Inspection

Name of the organization

HOPKINS SCHOOL INCORPORATED

Employer identification number

06-0646674

Return Reference	Explanation
FORM 990, PART VI, SECTION B, LINE 11B	THE AUDIT COMMITTEE OF THE COMMITTEE OF TRUSTEES HAS BEEN AUTHORIZED TO REVIEW THE FORM 990 AND TO APPROVE ITS FILING. WHEN IT HAS PERFORMED ITS AUTHORIZED DUTY, THE AUDIT COMMITTEE REPORTS TO THE COMMITTEE OF TRUSTEES THAT IT HAS REVIEWED AND APPROVED ITS FILING. THE 990, EXCLUDING SCHEDULE B SCHEDULE OF CONTRIBUTORS, IS THEN MADE AVAILABLE TO TRUSTEES AS REQUESTED AFTER IT IS FILED.
FORM 990, PART VI, SECTION B, LINE 12C	THE SCHOOL HAS A CONFLICT OF INTEREST POLICY THAT APPLIES TO ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES. EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE MUST ANNUALLY SIGN AND SUBMIT THE CONFLICT OF INTEREST STATEMENT TO THE BOARD. IF A POTENTIAL OR ACTUAL CONFLICT IS DISCLOSED AT ANY TIME, THE BOARD WILL REVIEW THE MATERIAL FACTS AND CIRCUMSTANCES AND FOLLOW-UP ON THE NON-COMPLIANCE. IF IT IS ESTABLISHED THAT AN ACTUAL CONFLICT EXISTS, THE INDIVIDUAL WILL BE NOTIFIED IMMEDIATELY AND WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DISCUSSIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL THE CONFLICT IS RESOLVED. ANY DISCUSSION REGARDING THE CONFLICT OF INTEREST TRANSACTION IS DOCUMENTED IN THE MINUTES OF THE BOARD MEETINGS, REFLECTING THE CONFLICT OF INTEREST THAT WAS DISCLOSED, THE NAME OF THE INTERESTED PERSON, AND THE FINAL DETERMINATION AND DECISION.
FORM 990, PART VI, SECTION B, LINE 15A	COMPENSATION FOR THE HEAD OF SCHOOL IS SET BY CONTRACT. AT THE OUTSET OF THE CONTRACT, COMPENSATION IS DETERMINED BY A SUBSET OF TRUSTEES, INCLUDING THE PRESIDENT. BENCHMARK AND COMPARATIVE DATA OBTAINED FROM A VARIETY OF SOURCES, INCLUDING THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND OTHER REGIONALIZED SURVEYS, IS USED TO DETERMINE A MARKET BASED RATE OF COMPENSATION. THE COMPENSATION DECISION DOCUMENTED IN THE RECORDS OF THE ORGANIZATION. THIS PROCESS WAS LAST COMPLETED IN FISCAL YEAR 2023. COMPENSATION FOR THE CHIEF FINANCIAL AND OPERATING OFFICER IS SET BY CONTRACT. THIS CONTRACT RUNS FOR A SINGLE TWELVE MONTH PERIOD. RATES OF COMPENSATION UNDER THIS CONTRACT ARE SET ANNUALLY BY THE HEAD OF SCHOOL. BENCHMARK AND COMPARATIVE DATA OBTAINED FROM A VARIETY OF SOURCES, INCLUDING THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND OTHER REGIONALIZED SURVEYS, IS USED TO DETERMINE A MARKET BASED RATE OF COMPENSATION. THE COMPENSATION DECISION DOCUMENTED IN THE RECORDS OF THE ORGANIZATION. THIS PROCESS WAS LAST COMPLETED IN FISCAL YEAR 2023.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS ALSO POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST.
FORM 990, PART XI, LINE 9:	LOSS ON DEFEASANCE -203,323. LOSS ON DISPOSAL OF PROPERTY AND EQUIPMENT -850,776. CHANGE IN VALUATION OF SPLIT INTEREST AGREEMENTS 272,490.
FORM 990, PART XII, LINE 2C:	THE ORGANIZATION HAS A COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.

Return Reference

Explanation

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

THE AUDIT COMMITTEE OF THE COMMITTEE OF TRUSTEES HAS BEEN AUTHORIZED TO REVIEW THE FORM 990 AND TO APPROVE ITS FILING. WHEN IT HAS PERFORMED ITS AUTHORIZED DUTY, THE AUDIT COMMITTEE REPORTS TO THE COMMITTEE OF TRUSTEES THAT IT HAS REVIEWED AND APPROVED ITS FILING. THE 990, EXCLUDING SCHEDULE B SCHEDULE OF CONTRIBUTORS, IS THEN MADE AVAILABLE TO TRUSTEES AS REQUESTED AFTER IT IS FILED.

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

THE SCHOOL HAS A CONFLICT OF INTEREST POLICY THAT APPLIES TO ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES. EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE MUST ANNUALLY SIGN AND SUBMIT THE CONFLICT OF INTEREST STATEMENT TO THE BOARD. IF A POTENTIAL OR ACTUAL CONFLICT IS DISCLOSED AT ANY TIME, THE BOARD WILL REVIEW THE MATERIAL FACTS AND CIRCUMSTANCES AND FOLLOW-UP ON THE NON-COMPLIANCE. IF IT IS ESTABLISHED THAT AN ACTUAL CONFLICT EXISTS, THE INDIVIDUAL WILL BE NOTIFIED IMMEDIATELY AND WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DISCUSSIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL THE CONFLICT IS RESOLVED. ANY DISCUSSION REGARDING THE CONFLICT OF INTEREST TRANSACTION IS DOCUMENTED IN THE MINUTES OF THE BOARD MEETINGS, REFLECTING THE CONFLICT OF INTEREST THAT WAS DISCLOSED, THE NAME OF THE INTERESTED PERSON, AND THE FINAL DETERMINATION AND DECISION.

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

COMPENSATION FOR THE HEAD OF SCHOOL IS SET BY CONTRACT. AT THE OUTSET OF THE CONTRACT, COMPENSATION IS DETERMINED BY A SUBSET OF TRUSTEES, INCLUDING THE PRESIDENT. BENCHMARK AND COMPARATIVE DATA OBTAINED FROM A VARIETY OF SOURCES, INCLUDING THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND OTHER REGIONALIZED SURVEYS, IS USED TO DETERMINE A MARKET BASED RATE OF COMPENSATION. THE COMPENSATION DECISION DOCUMENTED IN THE RECORDS OF THE ORGANIZATION. THIS PROCESS WAS LAST COMPLETED IN FISCAL YEAR 2023. COMPENSATION FOR THE CHIEF FINANCIAL AND OPERATING OFFICER IS SET BY CONTRACT. THIS CONTRACT RUNS FOR A SINGLE TWELVE MONTH PERIOD. RATES OF COMPENSATION UNDER THIS CONTRACT ARE SET ANNUALLY BY THE HEAD OF SCHOOL. BENCHMARK AND COMPARATIVE DATA OBTAINED FROM A VARIETY OF SOURCES, INCLUDING THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND OTHER REGIONALIZED SURVEYS, IS USED TO DETERMINE A MARKET BASED RATE OF COMPENSATION. THE COMPENSATION DECISION DOCUMENTED IN THE RECORDS OF THE ORGANIZATION. THIS PROCESS WAS LAST COMPLETED IN FISCAL YEAR 2023.

FORM 990, PART VI, SECTION C, LINE 19

THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS ALSO POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST.

FORM 990, PART XI, LINE 9:

LOSS ON DEFEASANCE -203,323. LOSS ON DISPOSAL OF PROPERTY AND EQUIPMENT -850,776. CHANGE IN VALUATION OF SPLIT INTEREST AGREEMENTS 272,490.

FORM 990, PART XII, LINE 2C:

THE ORGANIZATION HAS A COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.

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

Cat. No. 51056K

Schedule O (Form 990) 2022

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