2023-03-22T13:13:02-05:00 2022-06-30 420714325 RSM US LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2021-07-01 536019409 SHERIDAN SCHOOL INC SHER 2023627900 4400 36TH ST NW WASHINGTON DC 200084208 PAVAN KHOOBCHANDANI BOARD CHAIR AND PRESIDENT 2023627900 2023-03-17 1 PAVAN KHOOBCHANDANI XXX-XX-XXXX JULIA FLANNERY P00928918 4102469300 2023-03-17 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z SHERIDAN SCHOOL JESSICA DONOVAN 4400 36TH ST NW WASHINGTON DC 200084208 12248060 0 X WWW.SHERIDANSCHOOL.ORG X 1961 DC EDUCATIONAL SERVICES TO CHILDREN FROM KINDERGARTEN THROUGH EIGHTH GRADE. 19 17 122 100 0 0 1913790 1512352 8798272 9823873 165267 193155 63212 92978 10940541 11622358 1740017 1755416 0 0 5479401 6146808 0 0 145112 1989820 2461383 9209238 10363607 1731303 1258751 21434563 20562022 9977165 9001784 11457398 11560238 X SHERIDAN SCHOOL'S MISSION IS TO CREATE AN INCLUSIVE, VIBRANT LEARNING COMMUNITY. WE TAKE JOY IN LEARNING, SHOW KINDNESS AND EMPATHY TOWARDS OTHERS, EMBRACE NEW EXPERIENCES AND IDEAS, AND CONTINUALLY SEEK A DEEPER AND FULLER UNDERSTANDING OF THE WORLD. WE SEEK TO INSPIRE SELF-KNOWLEDGE, INTELLECTUAL DISCIPLINE, AND PERSONAL INTEGRITY IN OUR COMMUNITY MEMBERS. AT BOTH OUR CITY AND MOUNTAIN CAMPUSES, THE SHERIDAN COMMUNITY CHALLENGES ITSELF TO LIVE THE IDEAL OF RESPECT FOR ONESELF, OTHERS, AND THE ENVIRONMENT. 0 1 7005191 1702768 9109906 EDUCATION PROGRAM: AS AN ACCREDITED SCHOOL, WE PROVIDE AN EDUCATION FOR APPROXIMATELY 230 CHILDREN FROM KINDERGARTEN TO GRADE EIGHT AT OUR CITY AND MOUNTAIN CAMPUSES. WE SEEK TO NURTURE AND CHALLENGE CHILDREN THROUGH A COLLECTION OF ACADEMIC SUBJECTS AND ENRICHING ACTIVITIES THAT ENCOURAGE CHILDREN TO TAKE RESPONSIBILITY FOR THEIR LEARNING AND SOCIAL DEVELOPMENT.FULL IN-PERSON DAILY CLASSES RESUMED IN SEPTEMBER 2021 WITHOUT THE CLASSROOM PARTITIONS AND COHORTS WHICH MARKED THE PREVIOUS SCHOOL YEAR. THE SCHOOL FOLLOWED PUBLIC HEALTH GUIDANCE, WITH DAILY HEALTH SCREENINGS, AS WELL AS VACCINATION CLINICS FOR FACULTY, STAFF, STUDENTS, AND THEIR FAMILIES, TO REDUCE COMMUNITY TRANSMISSION OF COVID-19. 590160 478331 SUMMER CAMP:THE SCHOOL CONDUCTS A SUMMER CAMP IN TWO- AND THREE-WEEK SESSIONS OF APPROXIMATELY 230 CHILDREN AGES 3 TO 16 EACH SUMMER. CHILDREN DEVELOP NEW SKILLS, SPECIAL TALENTS, EMERGING INTERESTS AND SELF-CONFIDENCE BY EXPLORATION AND CELEBRATION OF THE VISUAL AND PERFORMING ARTS, CULINARY ARTS, AND SPORTS. AFTER A LIMITED ONLINE CAMP IN THE SUMMER OF 2020, THE SCHOOL RESUMED CAMP ACTIVITIES IN-PERSON IN JUNE 2021, ALBEIT IN SMALLER-THAN-NORMAL COHORTS AND FOR TWO THREE-WEEK SESSIONS, SERVING APPROXIMATELY 150 CAMPERS PER SESSION AND 240 DIFFERENT CHILDREN OVER THE COURSE OF THE SUMMER. MOST OF THE REVENUE EARNED DURING THE SUMMER OF 2021 IS REFLECTED ON THIS RETURN.IN JUNE 2022, THE SCHOOL RESUMED ITS TRADITIONAL SUMMER CAMP PROGRAM FOR THREE TWO-WEEK SESSIONS, WELCOMING APPROXIMATELY 230 CHILDREN PER SESSION AND 430 DIFFERENT CHILDREN OVER THE COURSE OF THE SUMMER. CLASS SIZES RESUMED AT PRE-PANDEMIC LEVELS AND OFFERED A FULL RANGE OF INDOOR AND OUTDOOR ACTIVITIES. IN ADDITION, AFTER A HIATUS DURING THE PAST TWO SUMMERS, PRE-CAMP MORNING CHILDCARE AND POST-CAMP AFTERNOON CHILDCARE RESUMED. MOST OF THE REVENUE EARNED DURING THE SUMMER OF 2022 WILL BE REFLECTED ON NEXT YEAR'S RETURN. 380613 SUPPORT SERVICES:THE SCHOOL PROVIDES A DAILY NUTRITIOUS HOT LUNCH AND SNACKS FOR ALL STUDENTS, FACULTY, AND STAFF. DUE TO THE NEED TO CONTINUE MASKING, AND TO MAINTAIN COVID PRECAUTIONS DURING LUNCH, DINING SERVICES CONSISTED OF STUDENTS EATING IN THEIR CLASSROOMS RATHER THAN IN LARGE GROUPS IN THE CAFETERIA. 338320 52648 235636 AFTER SCHOOL PROGRAM:THE AFTER SCHOOL PROGRAMS MIRROR THE SCHOOL'S CHILD-ORIENTED PHILOSOPHY; CHILDREN ARE ENCOURAGED TO PURSUE THEIR INDIVIDUAL INTERESTS. WITHIN THE PROGRAM, CHILDREN MAY FOCUS ON EDUCATIONAL, ARTISTIC, OR PHYSICAL ACTIVITIES, INCLUDING ENRICHMENT CLASSES, STUDY HALL, GAMES, AND ART PROJECTS. IN SEPTEMBER 2021, THE SCHOOL RESUMED AFTER SCHOOL PROGRAMS IN SMALL COHORTS, ALTHOUGH ITS FULL COMPLEMENT OF ENRICHMENT ACTIVITIES, OUTSIDE OF MUSIC INSTRUCTION, IS ON HIATUS AND WILL RESUME IN SEPTEMBER 2022. THE PROGRAM TYPICALLY INCLUDES STRUCTURED ACTIVITIES FOR HALF- AND FULL-DAY PROGRAMS DURING CONFERENCE DAYS; HOWEVER THESE WERE NOT RESTORED UNTIL THE FALL OF 2022 DUE TO THE CONSTRAINTS ASSOCIATED WITH COHORTING. 338320 52648 235636 8314284 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 39 0 1 122 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 17 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X SUZANNE BADOUX CO SHERIDAN SCHOOL 2023627900 4400 36TH ST NW WASHINGTON DC 200084208 JEFFREY GARIGLIANO BOARD CHAIR & PRESIDENT 5.00 X X 0 0 0 MARI MCDONALD VICE CHAIR & VICE PRESIDENT 5.00 X X 0 0 0 JAMES HULME TREASURER 3.00 X X 0 0 0 JUSTIN GALEN ASST TREASURER 3.00 X X 0 0 0 SHANNON EGGER SECRETARY 3.00 X X 0 0 0 AMELIA MATTLER ASST SECRETARY 3.00 X X 0 0 0 ASAKI BRADFORD DIRECTOR 3.50 X 0 0 0 NATALIE CAMPBELL DIRECTOR 3.00 X 0 0 0 JENNIFER FEINBERG DIRECTOR 1.00 X 0 0 0 RODNEY GLASGOW DIRECTOR 3.00 X 0 0 0 PAVAN KHOOBCHANDANI DIRECTOR 3.00 X 0 0 0 TRACY MANN DIRECTOR 3.00 X 0 0 0 INDIRA MARTELL DIRECTOR 3.00 X 0 0 0 CHRISTOPHER MILLER DIRECTOR 3.00 X 0 0 0 DENISE NAGUIB DIRECTOR 3.00 X 0 0 0 GARRY REEDER DIRECTOR 3.00 X 0 0 0 AMY WEIS DIRECTOR 3.00 X 0 0 0 VALAIDA WISE DIRECTOR 3.00 X 0 0 0 JULIE ZIEGLER DIRECTOR 3.00 X 0 0 0 JESSICA DONOVAN HEAD OF SCHOOL 40.00 X 346714 0 29813 SUZANNE BADOUX DIRECTOR OF FINANCE & FACILITIES 40.00 X 149774 0 22607 KELLY NELSON LOWER SCHOOL HEAD 40.00 X 140208 0 15662 MAUREEN MINEHAN DIR. COMMUNICATIONS & STRATEGIC INITIATIVES 40.00 X 123088 0 18549 MELANIE AUERBACH DIR. STUDENT SUPPORT 40.00 X 120343 0 98585 NATHALIE SVIEDRYS DIR. AUXILIARY PROGRAMS 40.00 X 117341 0 17550 LAURA GARCIA DE MENDOZA MUSIC TEACHER 40.00 X 113880 0 5680 1111348 0 208446 8 0 1 0 MERIWETHER GODSEY 4944 OLD BOONSBORO RD LYNCHBURG VA 24503 FOOD SERVICE PROGRAM 195159 KINCH CONSTRUCTION PO BOX 288 LOTHIAN MD 20711 CONSTRUCTION PROJECTS 114497 2 1027201 485151 114230 1512352 TUITION & FEES 900099 9823873 9823873 9823873 125738 125738 693119 619327 6375 73792 -6375 67417 67417 10863 0 10863 10863 OTHER INCOME 900099 51279 51279 INSURANCE PROCEEDS 900099 30836 30836 82115 11622358 9823873 0 286133 1755416 1755416 555619 555619 4683517 4013986 592154 77377 196683 169873 23535 3275 310721 252153 53737 4831 400268 308968 85344 5956 6452 3246 3143 63 50290 50290 48125 48125 647591 518820 110607 18164 10297 5799 4498 445012 378034 45291 21687 129896 87738 40701 1457 421069 322092 93616 5361 28093 25989 2103 1 44362 38855 5417 90 17492 17492 413856 319457 88241 6158 66945 66945 ADM. & ENTRANCE FEES 47899 47899 OTHER EXPENSES 34225 22854 11114 257 MAINTENANCE EXPENSES 28168 24562 3371 235 EQUIPMENT 21611 18543 2868 200 10363607 8314284 1904211 145112 4154956 5811276 2214972 685484 148872 99046 31669 20224 112238 205381 9876972 5586556 4612472 4290416 6165157 5173098 3994227 4277097 21434563 20562022 626835 762707 3637100 3961980 725694 4987536 4277097 9977165 9001784 X 9217105 9690393 2240293 1869845 11457398 11560238 21434563 20562022 X 1258751 -1183385 16365 11109 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6320628 1500 -1032127 5290001 4949874 1500 1511799 142545 6320628 4970740 1600 70482 92948 4949874 4906426 4000 67805 7491 4970740 4677800 5250 223376 4906426 0.72000 0.22000 0.06000 0 0 217056 217056 8794155 5053365 3740790 774615 533191 241424 91146 91146 4290416 TUITION CONTRACT RECEIVABLE 4277097 4277097 TUITION CONTRACT LIABILITY 4277097 4277097 8651797 -1183385 16365 -1755416 -2922436 11574233 48125 48125 11622358 8560066 0 8560066 48125 1755416 1803541 10363607 PART V, LINE 4: THE EARNINGS FROM INVESTING OF ENDOWMENT FUNDS WILL BE USED TO PROVIDE NEED-BASED SCHOLARSHIPS AND SUPPORT PROFESSIONAL DEVELOPMENT OPPORTUNITIES AND COMPENSATION FOR TEACHERS, AS WELL AS OTHER PROGRAM NEEDS, INCLUDING CAPITAL EXPENDITURES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION AND AFTER SCHOOL PROGRAM REVENUE -1,755,416. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION AND AFTER SCHOOL PROGRAM REVENUE 1,755,416. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE RACIAL NONDISCRIMINATION POLICY IS PUBLICIZED THROUGH PRINTED MATERIALS AND PERIODIC ADVERTISEMENTS. SCHEDULE E, PART I, LINE 6 GRANTS FROM DISTRICT OF COLUMBIA PUBLIC SCHOOLS (DCPS) TO SUPPORT SHERIDAN STUDENTS LIVING IN UNDERSERVED AND ECONOMICALLY DISADVANTAGES AREAS. DCPS GRANTED $34,257 UNDER TITLE I, II AND IV FUNDING. GRANTS PROVIDED IN THE FORM OF INSTRUCTIONAL MATERIALS, EQUIPMENT AND PROFESSIONAL DEVELOPMENT ACTIVITIES. DCPS AUTHORIZED TO DISTRIBUTE FUNDS UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT. $10,743 IN GRANTS PROVIDED IN THE FORM OF ONLINE CURRICULUM ENHANCEMENTS, AS WELL AS EQUIPMENT TO MAINTAIN STUDENT SAFETY. IN APRIL 2021 THE SCHOOOL RECEIVED $982,200 IN PROCEEDS FROM A PPP LOAN WHICH COULD BE FORGIVEN IF USED FOR QUALIFYING EXPENSES SUCH AS PAYROLL COSTS, MORTGAGE INTEREST, & UTILITIES, DURING THE ALLOWABLE PERIOD. THE LOAN FORGIVENESS WAS CALCULATED IN ACCORDANCE WITH PPP REQUIREMENTS AND SUBMITTED TO THE BANK. IN NOVEMBER 2021 THE SCHOOL RECEIVED FULL FORGIVENESS OF THIS LOAN AND ACCRUED INTEREST. SCHEDULE E, LINE 3: IN ADDITION TO BEING FULLY COMPLIANT IN ALL MATTERS RELATED TO NON-DISCRIMINATORY PRACTICES COVERED IN SCHEDULE E, SHERIDAN IS ACTIVELY COMMITTED TO ITS DIVERSITY VISION, WHICH UNDERPINS THE SCHOOL'S CORE MISSION AS FOLLOWS: WE BELIEVE THAT A DIVERSE AND INCLUSIVE LEARNING ENVIRONMENT IS INTEGRAL TO ACHIEVING ACADEMIC EXCELLENCE. SHERIDAN'S COMMITMENT TO DIVERSITY IS GROUNDED IN OUR SCHOOL MISSION AND THE PRINCIPLES OF PROGRESSIVE EDUCATION. WE OFFER A CURRICULUM THAT PROMOTES SOCIAL JUSTICE AND CHALLENGES PREJUDICE, WITHIN A SCHOOL CULTURE THAT EMBRACES AND CELEBRATES DIFFERENCES. WE RECOGNIZE AND VALUE THE EXPERIENCES THAT DIVERSITY OF GENDER, RACE, ETHNICITY, RELIGION, SEXUAL ORIENTATION, SOCIO-ECONOMIC CLASS, AGE AND ABILITY WITHIN OUR SCHOOL COMMUNITY CONTRIBUTES TO A SHERIDAN EDUCATION. WE ULTIMATELY STRIVE TO PREPARE OUR STUDENTS TO UNDERSTAND THE NATURE OF A COMPLEX WORLD AND TO THRIVE IN A MULTICULTURAL GLOBAL SOCIETY. 1 FINANCIAL AID 67 1755416 PART I, LINE 2: SCHOLARSHIPS ARE AWARDED ON THE BASIS OF FINANCIAL NEED. RECIPIENT'S FAMILY MUST SUBMIT AN APPLICATION FOR FINANCIAL ASSISTANCE, WHICH IS REVIEWED BY AN INDEPENDENT SERVICE. THE INDEPENDENT SERVICE'S RECOMMENDATIONS ARE THEN EVALUATED BY THE SCHOOL'S FINANCIAL AID COMMITTEE. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JESSICA DONOVAN HEAD OF SCHOOL 310414 0 0 0 36300 0 14500 0 15337 0 376551 0 0 0 MELANIE AUERBACH DIR. STUDENT SUPPORT 120343 0 0 0 0 0 6001 0 92608 0 218952 0 0 0 SUZANNE BADOUX DIRECTOR OF FINANCE & FACILITIES 149474 0 0 0 300 0 7835 0 14796 0 172405 0 0 0 KELLY NELSON LOWER SCHOOL HEAD 139908 0 0 0 300 0 5000 0 10686 0 155894 0 0 0 PART I, LINE 1A JESSICA DONOVAN, HEAD OF SCHOOL, RECEIVED $36,000 AS A TAXABLE HOUSING ALLOWANCE. 55959 FINANCIAL AID TUITION AND AFTER SCHOOL PROGRAMS SCHEDULE L, PART III, GRANTS OR ASSISTANCE BENEFITTING INTEREST PERSONS: SHERIDAN STRIVES FOR A DIVERSE BOARD REPRESENTATIVE OF THE SCHOOL COMMUNITY. AS SUCH, A NUMBER OF BOARD MEMBERS RECEIVE FINANCIAL AID AS DETERMINED BY AN INDEPENDENT COMMITTEE AND A THIRD PARTY ALGORITHM. X 12 69229 FMV X BOOKS & ONLINE SUBSCRIPTIONS 10 19804 FMV X COMPUTER EQUIPMENT 20 12726 FMV X SANITIZING EQUIPMENT 1 6243 FMV X PROFESSIONAL DEVELOPMENT 2 6228 FMV 0 0 1 0 PART I, COLUMN (B): USING A COMBINATION OF THE TWO METHODS ABOVE FORM 990, PART III, LINE 3 FULL IN-PERSON DAILY ATTENDANCE RESUMED IN SEPTEMBER 2021 WITHOUT THE CLASSROOM PARTITIONS AND COHORTS WHICH MARKED THE PREVIOUS SCHOOL YEAR. THE SCHOOL FOLLOWED PUBLIC HEALTH GUIDANCE, WITH DAILY HEALTH SCREENINGS, AS WELL AS VACCINATION CLINICS FOR FACULTY, STAFF, STUDENTS, AND THEIR FAMILIES, TO REDUCE COMMUNITY TRANSMISSION OF COVID-19. THE SCHOOL'S TRADITIONAL IN-PERSON SUMMER CAMP PROGRAM RETURNED IN JUNE 2021, ALBEIT IN SMALLER-THAN-NORMAL COHORTS AND FOR TWO THREE-WEEK SESSIONS. IN THE SUMMER OF 2022, FULL CLASS SIZES RESUMED IN TWO-WEEK SESSIONS, AS DID A FULL RANGE OF INDOOR AND OUTDOOR ACTIVITIES. THE FOODSERVICE PROGRAM RESTORED THE HOT LUNCH BUFFET IN THE FALL OF 2021, INCLUDING LIMITED SALAD AND SANDWICH SELECTIONS. THIS WAS MADE POSSIBLE BY ELIMINATING THE COHORTING IN PLACE DURING THE PRIOR SCHOOL YEAR. HOWEVER, DUE TO THE NEED TO MAINTAIN COVID PRECAUTIONS WHILE UNMASKED, STUDENTS ATE LUNCH IN THEIR CLASSROOMS RATHER THAN IN LARGE GROUPS IN THE CAFETERIA. EX-CLUB, THE SCHOOL'S PRIMARY AFTER SCHOOL PROGRAM, RETURNED IN SEPTEMBER 2021. IN THIS PROGRAM, CHILDREN CAN PURSUE EDUCATIONAL, ARTISTIC, OR PHYSICAL ACTIVITIES AFTER THE END OF THE INSTRUCTIONAL SCHOOL DAY. FEE-BASED PRIVATE MUSIC INSTRUCTION CONTINUED IN AN ONLINE SETTING WHEN THE SCHOOL YEAR RESUMED. ENRICHMENT CLASSES, COVERING A VARIETY OF STUDENT INTERESTS, SUCH AS KARATE, CERAMICS, AND DANCE, REMAINED INACTIVE UNTIL THE FALL OF 2022, AS DID THE FULL- AND HALF-DAY PROGRAMS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING THE FORM 990, THE MANAGEMENT TEAM, CONSISTING OF THE DIRECTOR OF FINANCE, SENIOR FINANCE STAFF AND HEAD OF SCHOOL REVIEWED THE DRAFT FORM 990 PREPARED BY THE ORGANIZATION'S INDEPENDENT ACCOUNTANTS. THE DRAFT FORM 990, WITH DONOR NAMES REDACTED, WAS THEN MADE AVAILABLE TO THE AUDIT COMMITTEE FOR REVIEW. THE MEMBERSHIP OF THE AUDIT COMMITTEE INCLUDES TRUSTEES WITH PRACTICAL AND/OR PROFESSIONAL EXPERTISE, SUCH AS NONPROFIT MANAGEMENT, ACCOUNTING, AND FEDERAL TAX LAW GOVERNING EXEMPT ORGANIZATIONS. BEFORE THE ORGANIZATION SUBMITTED FORM 990 TO THE IRS, THE AUDIT COMMITTEE REPORTED TO THE BOARD OF TRUSTEES THAT THE AUDIT COMMITTEE HAD, TO THE BEST OF ITS ABILITY, DETERMINED THAT THE DRAFT FORM 990 WAS COMPLETE, ACCURATE AND CORRECT. THE DRAFT 990, WITH DONOR NAMES REDACTED, WAS THEN MADE AVAILABLE TO THE FULL BOARD OF TRUSTEES FOR REVIEW AND COMMENT PRIOR TO FILING. AT THAT TIME THE TRUSTEES WERE ALSO PROVIDED WITH THE OPPORTUNITY TO REQUEST AN UNREDACTED DRAFT FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C FULL DISCLOSURE OF ALL ACTUAL AND POTENTIAL CONFLICTS OF INTEREST IS REQUIRED. EACH TRUSTEE AND OFFICER OF THE SCHOOL IS REQUIRED TO DISCLOSE ANY AND ALL FACTS THAT MAY BE CONSTRUED AS A CONFLICT OF INTEREST ANNUALLY VIA A FORM AND QUESTIONNAIRE, AS WELL AS WHENEVER SUCH ACTUAL OR POTENTIAL CONFLICT OCCURS BEFORE ANY RELEVANT ACTION BY THE BOARD OF TRUSTEES OR A COMMITTEE OF THE BOARD. THE FORMS ARE REVIEWED BY THE DIRECTOR OF FINANCE TO IDENTIFY ANY POTENTIAL CONFLICTS TO BE REVIEWED WITH THE AUDIT COMMITTEE. THE COMMITTEE WILL REVIEW WHETHER OR NOT A CONFLICT EXISTS AND WHETHER IT MAY MATERIALLY OR ADVERSELY AFFECT THE INTERESTS OF THE SCHOOL. THE TRUSTEE WITH THE POTENTIAL CONFLICT MAY NOT PARTICIPATE IN THIS DETERMINATION BY THE COMMITTEE. IF THE COMMITTEE DETERMINES THAT A CONFLICT MAY EXIST, THE BOARD OF TRUSTEES SHALL DETERMINE AN APPROPRIATE REMEDY. THIS REMEDY MAY INCLUDE THE RECUSAL OF THE TRUSTEE FROM CERTAIN MATTERS PENDING BEFORE THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL'S COMPENSATION WAS SET UNDER A THREE-YEAR CONTRACT EXECUTED IN NOVEMBER 2020 AND EFFECTIVE IN JULY 2021. THE BOARD OF TRUSTEES FORMED A COMMITTEE FOR THE PURPOSES OF NEGOTIATING THE CONTRACT WITH THE HEAD OF SCHOOL. THE COMMITTEE LOOKED AT COMPARABLE COMPENSATION DATA FROM PEER SCHOOLS, (FROM FORMS 990 AND A COMPENSATION SURVEY) WHEN ESTABLISHING THE COMPENSATION IN THE CONTRACT. THE CONTRACT WAS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES AT A PORTION OF A MEETING AT WHICH THE HEAD OF SCHOOL WAS NOT PRESENT. THE CONTRACT PROVIDES FOR AN INCREASE OF 2.0% TO THE BASE SALARY IN EACH SUCCESSIVE YEAR OF THE CONTRACT. ANNUALLY, A REVIEW OF THE PERFORMANCE OF THE HEAD OF SCHOOL IS CARRIED OUT BY A COMMITTEE CONSISTING OF TRUSTEES WHO ARE OFFICERS OR CHAIRS OF COMMITTEES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS OF THE SCHOOL ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: GAIN (LOSS) FROM INTEREST RATE SWAP 11,109.