2022-03-30T11:44:21-05:00 2021-06-30 751044330 LANE GORMAN TRUBITT LLC 2626 HOWELL ST SUITE 700 DALLAS TX 75204 990 2020-07-01 750827460 ST MARK'S SCHOOL OF TEXAS STMA 2143468120 10600 PRESTON ROAD DALLAS TX 75230 SUZANNE TOWNSEND CHIEF FINANCIAL OFFICER 2143468120 2022-02-28 1 SUZANNE TOWNSEND 999009999 MATTHEW D PECK CPA P00029866 2148717500 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DAVID DINI 10600 PRESTON ROAD DALLAS TX 75230 71933847 0 X WWW.SMTEXAS.ORG X 1934 TX ST. MARK'S SCHOOL OF TEXAS, IS A PRIVATE, NON-PROFIT, NON-SECTARIAN, INDEPENDENT, COLLEGE PREPARATORY DAY SCHOOL FOR BOYS GRADES 1 THROUGH 12. THE SCHOOL AIMS TO AFFORD ITS STUDENTS WELL-ROUNDED PHYSICAL, INTELLECTUAL AND SPIRITUAL EDUCATION. 50 50 283 500 4354 3354 5532748 4264314 24184803 28356293 4074846 4017525 11893910 2892400 45686307 39530532 2970336 3253204 0 0 22782385 23618210 92195 29989 1434098 11492121 15646895 37337037 42548298 8349270 -3017766 275365523 307638954 33704340 32704559 241661183 274934395 X ST. MARK'S SCHOOL OF TEXAS IS A PRIVATE, NON-PROFIT, NON-SECTARIAN, INDEPENDENT, COLLEGE PREPARATORY DAY SCHOOL FOR BOYS GRADES 1 THROUGH 12. THE SCHOOL AIMS TO AFFORD ITS STUDENTS WELL-ROUNDED PHYSICAL, INTELLECTUAL, AND SPIRITUAL EDUCATION. 0 0 30899753 3253204 27881443 INSTRUCTIONAL GRADES 1 THROUGH 12 - ST. MARK'S SCHOOL OF TEXAS IS A PRIVATE, NON-PROFIT, NON-SECTARIAN, INDEPENDENT, COLLEGE PREPARATORY DAY SCHOOL FOR BOYS IN GRADES 1 THROUGH 12. THE SCHOOL AIMS TO AFFORD ITS STUDENTS WELL-ROUNDED PHYSICAL, INTELLECTUAL, AND SPIRITUAL EDUCATION. THE SCHOOL, WHICH CELEBRATED ITS CENTENNIAL IN 2006, IS LOCATED IN DALLAS, TEXAS, AND HAS AN APPROXIMATE ENROLLMENT OF 900 BOYS. 505224 277238 NEW STUDENT/TESTING FEES - EXPENSES RELATED TO THE MATRICULATIONOF STUDENTS TO THE SCHOOL. 316599 240381 STUDENT ACTIVITIES - WIDE RANGING EXPENSES RELATED TO NONINSTRUCTIONAL ACTIVITIES OF STUDENTS INCLUDING COMMENCEMENT EXERCISES, STUDENT COUNCIL EXPENSES, AND CLASS FIELD TRIPS. 30500 301 EXTENDED DAY - AFTER SCHOOL CARE FOR BOYS IN GRADES 1 THROUGH 4. THE PROGRAM HAS AN ENROLLMENT OF APPROXIMATELY 60 BOYS. 30500 301 31752076 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 106 0 1 283 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 50 50 1 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X SUZANNE TOWNSEND 2143468116 10600 PRESTON ROAD DALLAS TX 75230 DAVID B ACKERMAN TRUSTEE 2.00 X 0 0 0 LYDIA B ADDY TRUSTEE 2.00 X 0 0 0 KASIM ALFALAHI TRUSTEE 2.00 X 0 0 0 MARWIN T BROWN TRUSTEE 2.00 X 0 0 0 DAVID A CAMPBELL VICE PRESIDENT 2.00 X X 0 0 0 NANCY P CARLSON TRUSTEE 2.00 X 0 0 0 ERIC A CLARK TRUSTEE 2.00 X 0 0 0 TONIKA CHEEK CLAYTON TRUSTEE 2.00 X 0 0 0 KATHERINE R CROW PRESIDENT 2.00 X X 0 0 0 CHANDRA DHANDAPANI TRUSTEE 2.00 X 0 0 0 HILLEL A FEINBERG TRUSTEE 2.00 X 0 0 0 ROBERT L FELDMAN TRUSTEE 2.00 X 0 0 0 CHRISTOPHER S FLANAGAN TRUSTEE 2.00 X 0 0 0 LAWRENCE F GARDNER TRUSTEE 2.00 X 0 0 0 JEFFREY S GENECOV TRUSTEE 2.00 X 0 0 0 PAUL R GENENDER TRUSTEE 2.00 X 0 0 0 BEAU H HARBOUR TRUSTEE 2.00 X 0 0 0 JEFFREY S HILLIER ASST. TREASURER 2.00 X X 0 0 0 BRADFORD R HIRSCH TRUSTEE 2.00 X 0 0 0 CLARK K HUNT TRUSTEE 2.00 X 0 0 0 DANIEL L HUNT TRUSTEE 2.00 X 0 0 0 VERA R INGRAM TRUSTEE 2.00 X 0 0 0 OTIS B JENNINGS TRUSTEE 2.00 X 0 0 0 AMEE M JOSHI TRUSTEE 2.00 X 0 0 0 JATIN N KAKKAR TRUSTEE 2.00 X 0 0 0 MASON D KING TRUSTEE 2.00 X 0 0 0 LEIGH S KOCH TRUSTEE 2.00 X 0 0 0 ERIC K KUSIN TRUSTEE 2.00 X 0 0 0 CRAIG R LEVERING TRUSTEE 2.00 X 0 0 0 FRASER E MARCUS TRUSTEE 2.00 X 0 0 0 DAVID R MCATEE TREASURER 2.00 X X 0 0 0 CINDY A MCCLAIN TRUSTEE 2.00 X 0 0 0 ERIN S MCKOOL TRUSTEE 2.00 X 0 0 0 W CASEY MCMANEMIN TRUSTEE 2.00 X 0 0 0 JONATHAN B MORGAN TRUSTEE 2.00 X 0 0 0 JON L MOSLE III TRUSTEE 2.00 X 0 0 0 RYAN K ROBINSON TRUSTEE 2.00 X 0 0 0 JOHN C ROCCHIO TRUSTEE 2.00 X 0 0 0 RYAN T ROGERS TRUSTEE 2.00 X 0 0 0 STEPHEN J ROGERS SECRETARY 2.00 X X 0 0 0 ELLIOTT TOBY ROOSEVELT III TRUSTEE 2.00 X 0 0 0 C DAVID SAMMONS TRUSTEE 2.00 X 0 0 0 ALAN C SCHOELLKOPF JR TRUSTEE 2.00 X 0 0 0 J CARL SEWELL III TRUSTEE 2.00 X 0 0 0 KATHERINE K STEINBRUECK TRUSTEE 2.00 X 0 0 0 MEGAN M SUN TRUSTEE 2.00 X 0 0 0 A MICHAEL WARNECKE TRUSTEE 2.00 X 0 0 0 HEATHER H WASHBURNE TRUSTEE 2.00 X 0 0 0 TAYLOR H WILSON TRUSTEE 2.00 X 0 0 0 MICHAEL B WISENBAKER TRUSTEE 2.00 X 0 0 0 DAVID DINI HEADMASTER 40.00 X 661548 0 34596 JOHN ASHTON ASSOCIATE HEADMASTER 40.00 X 384837 0 31804 SUZANNE TOWNSEND CHIEF FINANCIAL OFFICER 40.00 X 306889 0 29040 JOHN S JOLLY INTERIM DIRECTOR OF DEVELOPMENT 40.00 X 211887 0 22291 DEAN CLAYMAN HEAD OF MIDDLE SCHOOL 40.00 X 168054 0 18436 JAMES E WINDLINGER JR CONTROLLER 40.00 X 156242 0 19727 MARK WEBB DIRECTOR OF PHYSICAL PLANT 40.00 X 172990 0 20104 COLLIN IGOE HEAD OF UPPER SCHOOL 40.00 X 155059 0 19413 2217506 0 195411 53 0 1 0 HC BECK LTD 1601 ELM STREET SUITE 2800 DALLAS TX 75201 CONSTRUCTION 4357377 SAGE DINING SERVICES 1402 YORK ROAD LUTHERVILLE MD 21093 CAFETERIA FOOD SERVICE 1415678 AXXYS TECHNOLOGIES 5850 GRANITE PKWY STE 700 PLANO TX 75024 TECHNOLOGY / SERVER SUPPORT 568613 STEPHEN MILLER JR (M5 SERVICES LLC) 18208 PRESTION ROAD STE D9-422 DALLAS TX 75252 JANITORIAL/CUSTODIAL 459638 ALFORD MEDIA SERVICES LLC 296 FREEPORT PKWY COPPELL TX 75019 A/V SETUP/PRODUCTION 319769 11 111805 4152509 594734 4264314 INSTRUCTIONAL GRADES 1 - 12 611710 27838373 27838373 ADMISSIONS REVENUE 611710 277238 277238 STUDENT ACTIVITIES 611710 240381 240381 EXTENDED DAY PROGRAM 611710 301 301 28356293 2635370 4354 2631016 33185961 31803806 1382155 1382155 1382155 266564 111805 156621 109943 109943 281549 442888 -161339 -161339 NET CASUALTY GAIN 611710 2900726 2900726 FORFEITED DEPOSITS 611710 37584 37584 MISCELLANEOUS 611710 5486 5486 2943796 39530532 28399363 4354 6862501 3253204 3253204 1448432 601889 776170 70373 17978784 14938148 2154293 886343 1029799 865258 111780 52761 1867059 1492621 268473 105965 1294136 1037632 190971 65533 82800 82800 29989 29989 815376 815376 929804 135463 777733 16608 58247 26513 19934 11800 2460324 368417 2034899 57008 601786 463758 138028 752649 752649 148943 137576 10622 745 2805 2805 70820 70820 4916473 4562553 311743 42177 704184 653750 44445 5989 INSTITUTIONAL EXPENSES 2908689 2838843 67710 2136 EMPLOYEE EXPENSES 465945 16079 444217 5649 SPECIAL EVENTS 413518 339768 30552 43198 314532 20604 256104 37824 42548298 31752076 9362124 1434098 14612392 13520663 17616669 24754083 9919226 6426454 16018099 15362972 408187 440635 28269 56707 129647618 52650509 80746389 76997109 116440309 141645634 18408310 26951049 1167673 1483648 275365523 307638954 5386998 3835988 25270224 26060215 3047118 2808356 33704340 32704559 X 98180924 103741151 143480259 171193244 241661183 274934395 275365523 307638954 X -3017766 34587675 1703303 X X 0 1 X 1 0 X 24895545 11849243 12674845 5532748 4264314 59216695 24895545 11849243 12674845 5532748 4264314 59216695 5329380 53887315 2393687 2593208 3542131 2960428 2635370 14124824 0 46121 26159 27175 109943 209398 73550917 136225667 0.73270 X PART II THE PUBLIC SUPPORT TEST HAS BEEN COMPLETED FOR THIS ORGANIZATION. THIS IS BASED ON NEW CLARIFICATION FROM THE IRS REGARDING ORGANIZATIONS OTHER THAN THOSE THAT CLAIM A PUBLIC CHARITY STATUS UNDER 170(B)(1)(A)(VI). IF THE ORGANIZATION MEETS THE PUBLIC SUPPORT TEST, ANY SUBSTANTIAL CONTRIBUTORS WILL BE INCLUDED ON SCHEDULE B SUBJECT TO THE LIMITATIONS IN THE FIRST SPECIAL RULE. THE 2020 RETURN FOR THE SCHOOL IS THE FIRST YEAR TO ELECT THIS TREATMENT OF THE PUBLIC SUPPORT TEST AND THUS, NO PUBLIC SUPPORT PERCENTAGE IS SHOWN FOR THE 2019 TAX YEAR. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 90000 X X X 0 140730435 1439537 37594191 2077448 3157975 815376 173713364 145732687 949263 -120124 2057832 3174480 599079 140730435 146190797 488527 5105722 2099011 3522801 430547 145732687 140147421 959239 10606456 2313054 2851576 357689 146190797 128427693 917630 16457760 2413696 2957691 284275 140147421 0.08260 0.34350 0.57390 1 0 3798588 3798588 108596619 40563016 68033603 9690690 7091829 2598861 7561721 4995664 2566057 76997109 HEDGE FUNDS 22843011 F PRIVATE EQUITY FUNDS 3410258 F DEFERRED COMPENSATION PLANS 697780 C 26951049 X 69339903 34587675 -1062202 33525473 35814430 815376 2900726 3716102 39530532 38967417 487699 487699 38479718 815376 3253204 4068580 42548298 PART III, LINE 4: ST. MARK'S SCHOOL OF TEXAS RECEIVED A DONATION OF A SKELETON OF A PLEISTOCENE ERA CAVE BEAR IN 2019. THE SPECIMEN IS ON DISPLAY FOR THE BOYS ATTENDING THE SCHOOL TO ADMIRE AND LEARN FROM. PART V, LINE 4: THE SCHOOL'S ENDOWMENTS CONSIST OF APPROXIMATELY 215 FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENTS INCLUDE BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS (QUASI-ENDOWMENTS). AS REQUIRED BY GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING QUASI-ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE POLICY OF THE SCHOOL IS TO RESTRICT ALL ENDOWMENT CONTRIBUTIONS UNLESS THE DONOR EXPRESSLY STATES OTHERWISE. THE SCHOOL'S POLICY FOR ENDOWMENT CONTRIBUTIONS IS TO SOLICIT CONTRIBUTIONS FROM THE DONORS, INTENDING THAT THE STIPULATION WILL NEVER LAPSE, THUS THE CORPUS WILL NEVER BE SPENT, AND FURTHER, THAT THE SCHOOL WILL USE ALL OR A PART OF THE INCOME EARNED ON RELATED INVESTMENTS FOR THE SPECIFIC PURPOSE INTENDED BY THE DONOR. THE ENDOWMENT FUNDS ARE USED FOR FINANCIAL AID, FACULTY SUPPORT, PROGRAM SUPPORT, AWARDS, AND SUSTAINING THE FACILITIES. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE ("IRC") ACCORDING TO THE UNITED STATES INTERNAL REVENUE SERVICE ("IRS") DETERMINATION LETTER DATED AUGUST 25, 1971, EXCEPT TO THE EXTENT IT HAS UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED JUNE 30, 2021 AND 2020, UNRELATED BUSINESS INCOME DID NOT RESULT IN ANY MATERIAL NET TAXABLE INCOME, THEREFORE NO PROVISION FOR INCOME TAX HAS BEEN PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL IS REQUIRED TO FILE AN ANNUAL FORM 990-T WITH THE IRS FOR ANY UNRELATED BUSINESS INCOME. GAAP REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE SCHOOL'S FINANCIAL STATEMENTS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE LIKELY THAN NOT THRESHOLD WOULD BE RECORDED AS A TAX BENEFIT OR EXPENSE IN THE CURRENT YEAR. A RECONCILIATION IS NOT PROVIDED HEREIN, AS THE BEGINNING AND ENDING AMOUNTS OF UNRECOGNIZED BENEFITS ARE ZERO, WITH NO INTERIM ADDITIONS, REDUCTIONS, OR SETTLEMENTS. THE SCHOOL IS RELYING ON ITS TAX-EXEMPT STATUS AND ITS ADHERENCE TO ALL APPLICABLE LAWS AND REGULATIONS TO PRESERVE THAT STATUS. HOWEVER, THE CONCLUSIONS REGARDING THE UNCERTAINTY IN INCOME TAXES WILL BE SUBJECT TO REVIEW AND MAY BE ADJUSTED AT A LATER DATE BASED ON FACTORS INCLUDING, BUT NOT LIMITED TO, ONGOING ANALYSIS OF TAX LAWS, REGULATIONS, AND INTERPRETATION THEREOF. THE SCHOOL'S INFORMATIONAL RETURNS FILED WITH THE IRS ARE GENERALLY SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THE LATER OF THE DUE DATE OR DATE OF FILING. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 315,975. FUNDRAISING EXPENSES NET WITH REVENUES 156,621. PLEDGE DISCOUNTS 1,275,518. RECLASS OF COGS 442,888. RECLASS OF GRANT EXPENSE -3,253,204. PART XI, LINE 4B - OTHER ADJUSTMENTS: NET CASUALTY GAIN 2,900,726. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF COGS 442,888. FUNDRAISING EXPENSES NET WITH REVENUES 44,811. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF GRANTS 3,253,204. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 ST. MARK'S SCHOOL OF TEXAS PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY IN LOCAL PAPERS AT LEAST ONCE PER YEAR. THIS POLICY IS ALSO PUBLISHED ON THE ORGANIZATION'S WEBSITE. X X X 0 CHARITABLE DEVELOPMENT CONSULTING PO BOX 1486 FREDERICK MD 21702 CONSULTING 0 0 27950 0 27950 TX CELEBRATE 2021 378369 111805 266564 111805 7000 14200 23616 378369 111805 266564 111805 7000 14200 23616 156621 109943 SCHEDULE G, PART I, LINE 2B, COLUMN (V) COMPENSATION OF PROFESSIONAL FUNDRAISERS THE PROFESSIONAL FUNDRAISER LISTED PROVIDES GENERAL GUIDANCE AND CONSULTING TO THE SCHOOL ON ITS FUNDRAISING PRACTICES; THEREFORE THE EXACT AMOUNT OF GROSS RECEIPTS GAINED FROM USING THIS SERVICES IS UNDISTINGUISHABLE. COMPENSATION AGREEMENTS FOR PAYMENTS TO PROFESSIONAL FUNDRAISERS DISTINGUISH BETWEEN PAYMENTS FOR SERVICES VERSUS REIMBURSEMENTS FOR FUNDRAISING EXPENSES. REIMBURSABLE EXPENSES FOR THE FISCAL YEAR ENDING 6/30/21 INCLUDED IN THE AMOUNT PAID TO THE FUNDRAISER WAS $0 DUE TO THE GLOBAL PANDEMIC LIMITING TYPICAL REIMBURSABLE EXPENSES SUCH AS TRAVEL, AIRFARE, AND LODGING. 1 TUITION ASSISTANCE TO STUDENTS ATTENDING ST. MARK'S 125 2529102 FMV N/A TUITION REMISSION TO STUDENTS ATTENDING ST. MARK'S 31 724102 FMV N/A PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS THE ORGANIZATION PROVIDES TUITION ASSISTANCE TO STUDENTS ATTENDING THE SCHOOL. THE TUITION ASSISTANCE IS PROVIDED SO LONG AS THE STUDENT CONTINUES TO MEET THE SCHOOL'S STANDARDS AND EXPECTATIONS AND SO LONG AS THE FAMILY'S NEEDS WARRANT SUCH AID. APPLICATION FOR TUITION ASSISTANCE MUST BE MADE ANNUALLY AND IN ACCORDANCE WITH THE APRIL 15 DEADLINE. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DAVID DINI HEADMASTER 586104 0 0 0 75444 0 22800 0 11796 0 696144 0 0 0 JOHN ASHTON ASSOCIATE HEADMASTER 337568 0 0 0 47269 0 19950 0 11854 0 416641 0 0 0 SUZANNE TOWNSEND CHIEF FINANCIAL OFFICER 285012 0 0 0 21877 0 19950 0 9090 0 335929 0 0 0 JOHN S JOLLY INTERIM DIRECTOR OF DEVELOPMENT 188270 0 0 0 23617 0 13510 0 8781 0 234178 0 0 0 MARK WEBB DIRECTOR OF PHYSICAL PLANT 165198 0 0 0 7792 0 11433 0 8671 0 193094 0 0 0 DEAN CLAYMAN HEAD OF MIDDLE SCHOOL 162748 0 0 0 5306 0 9780 0 8656 0 186490 0 0 0 JAMES E WINDLINGER JR CONTROLLER 153191 0 0 0 3051 0 11086 0 8641 0 175969 0 0 0 COLLIN IGOE HEAD OF UPPER SCHOOL 149308 0 0 0 5751 0 8400 0 11013 0 174472 0 0 0 PART I, LINE 1A BENEFITS PROVIDED TO OFFICERS, DIRECTORS, AND KEY EMPLOYEES DAVID DINI RECEIVED THE FOLLOWING BENEFITS, WHICH WERE REPORTED IN HIS TAXABLE COMPENSATION: -DISCRETIONARY SPENDING ACCOUNT -HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE -HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES -PERSONAL SERVICES A HACKBERRY CULTURAL EDUCATION FACILITIES FINANCE CORPORATION 752237898 NONEAVAIL 2001-08-17 4000000 REFINANCING LOAN 0 0 0 A 1175898 4000000 52659 4000000 2015 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 0 A 0 PART III, LINE 9 AND PART IV, LINE 7 WRITTEN MONITORING PROCEDURES THE ORGANIZATION HAS REPRESENTED THAT IT WILL, AND COVENANTED TO, COMPLY WITH ALL TAX REQUIREMENTS IMPOSED BY THE CODE TO SATISFY SECTIONS 141 AND 145 THROUGH 150 OF THE CODE IN THE TAX CERTIFICATE AND LOAN AGREEMENT RELATED TO THE TAX-EXEMPT BOND ISSUE. OTHER THAN THESE REPRESENTATIONS AND COVENANTS, THE ORGANIZATION HAS NOT ADOPTED POST-ISSUANCE MONITORING PROCEDURES. THE ORGANIZATION REALIZES THAT POST-ISSUANCE MONITORING PROCEDURES ARE AN IMPORTANT TOOL IN THE MANAGEMENT OF ISSUES ARISING AFTER TAX-EXEMPT BONDS ARE ISSUED. WHILE THE ORGANIZATION DOES NOT CURRENTLY HAVE DETAILED WRITTEN PROCEDURES, IT HOWEVER HAS CONSULTANTS, WITH WHOM IT CONSULTS FROM TIME TO TIME ON AN AD HOC BASIS, INCLUDING BOND COUNSEL, TO ENSURE ONGOING COMPLIANCE WITH TAX AND SECURITIES LAWS. IN ADDITION, THE ORGANIZATION IS CONSIDERING ESTABLISHING ADDITIONAL POST-ISSUANCE MONITORING PROCEDURES TO ENSURE CONTINUED COMPLIANCE WITH SECTIONS 141 AND 145 THROUGH 150 OF THE CODE. PART V PROCEDURES TO UNDERTAKE CORRECTIVE ACTION THE SCHOOL WILL CONSIDER ADOPTING SPECIFIC WRITTEN PROCEDURES TO ENSURE TIMELY CORRECTION OF POTENTIAL VIOLATIONS OF FEDERAL TAX REQUIREMENTS RELATED TO ITS BOND ISSUE THROUGH THE USE OF THE VOLUNTARY CLOSING AGREEMENT PROGRAM IF SELF-REMEDIATION IS NOT AVAILABLE UNDER APPLICABLE REGULATIONS. HOWEVER, THE SCHOOL HAS COVENANTED IN ITS TRUST AGREEMENT AND OTHER DOCUMENTS RELATED TO ITS BOND ISSUE TO COMPLY WITH ALL APPLICABLE FEDERAL TAX REQUIREMENTS RELATED TO ITS BOND ISSUE. ADDITIONALLY THE SCHOOL HAS COVENANTED TO MAINTAIN ALL REQUIRED RECORDS RELATED TO ITS BOND ISSUE FOR FEDERAL TAX COMPLIANCE AND ENGAGES AN EXPERT TO COMPUTE THE SCHOOL'S POTENTIAL REBATE LIABILITY UNDER APPLICABLE ARBITRAGE REBATE REGULATIONS, WHEN REQUIRED, TO ENSURE TIMELY COMPLIANCE WITH THESE REQUIREMENTS. X 28 482929 SELLING PRICE X AUCTION ITEMS 5 111805 FMV 0 1 1 PART I, LINE 32B: USE THIRD PARTIES TO SOLICIT, PROCESS, OR SELL NONCASH CONTRIBUTIONS A STOCK BROKER IS USED TO SELL STOCK RECEIVED AS CONTRIBUTIONS FORM 990, PART VI, SECTION A, LINE 2 FAMILY AND BUSINESS RELATIONSHIPS JON MOSLE, III AND TAYLOR WILSON - BUSINESS RELATIONSHIP JON MOSLE, III AND A. MICHAEL WARNECKE - BUSINESS RELATIONSHIP CLARK HUNT AND DANIEL HUNT - FAMILY RELATIONSHIP DAVID ACKERMAN AND A. MICHAEL WARNECKE - BUSINESS RELATIONSHIP DANIEL HUNT AND MICHAEL WISENBAKER - FAMILY RELATIONSHIP HILLEL FEINBERG AND PLAINS CAPITAL - BUSINESS RELATIONSHIP (SCHOOL VENDOR) J. CARL SEWELL III AND WILLIAM ATKINSON - FAMILY RELATIONSHIP TAYLOR WILSON AND HAYNES AND BOONE - BUSINESS RELATIONSHIP (SCHOOL VENDOR) FORM 990, PART VI, SECTION A, LINE 7A MEMBERS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY A TRUSTEE COMMITTEE RECRUITS NEW TRUSTEES TO THE BOARD ON A YEARLY BASIS. THE COMMITTEE THEN SUBMITS THE NOMINATIONS TO THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES VOTE ON THE NOMINATIONS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS SUBJECT TO APPROVAL BY MEMBERS, STOCKHOLDERS, OR OTHER PERSONS THE ORGANIZATION HAD VARIOUS COMMITTEES WHO MEET AND MAKE RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE REVIEWS THE RECOMMENDATIONS AND VOTES ON THE MATTERS. FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 A DRAFT COPY OF THE FORM 990 IS SUBMITTED TO THE AUDIT COMMITTEE. THE COMMITTEE REVIEWS AND APPROVES THE TAX RETURN BEFORE IT IS FILED. ONCE THE RETURN HAS BEEN APPROVED, IT IS COMMUNICATED TO THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCING CONFLICT OF INTEREST POLICY EACH YEAR EVERY TRUSTEE IS REQUIRED TO COMPLETE A CONFILICT OF INTEREST QUESTIONNAIRE. THE DIRECTOR OF FINANCE AND ADMINISTRATION REVIEWS EACH QUESTIONNAIRE FOR ANY ISSUES. FORM 990, PART VI, SECTION B, LINE 15 DETERMINING COMPENSATION COMPENSATION FOR EMPLOYEES IS DETERMINED BY REVIEWING THE EMPLOYEE'S PAST WORK HISTORY AND THE CURRENT YEAR BUDGET BY THE DEPARTMENT HEADS. THE DEPARTMENT HEADS THEN MAKE RECOMMENDATIONS TO THE HEADMASTER WHO THEN MAKES THE FINAL DETERMINATION FOR THE EMPLOYEE'S COMPENSATION. THE HEADMASTER'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE WHO IS ADVISED BY COMPENSATION CONSULTANTS AND BY COMPARING COMPENSATION TO OTHER COMPARABLE INDEPENDENT SCHOOL'S DATA. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLILITY OF DOCUMENTS TO THE PUBLIC AVAILABLE UPON REQUEST FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST A 315,975. OTHER CHANGE IN NET ASSETS - FUNDRAISING 111,810. PLEDGE DISCOUNTS IN ACCORDANCE WITH ASC 958-605-30 1,275,518. PART XII, LINE 2C THE SCHOOL HAS AN AUDIT COMMITTEE WHO'S GENERAL FUNCTION IS TO OVERSEE THE ENGAGEMENT, RETENTION, AND PERFORMANCE OF THE OUTSIDE AUDITORS OF THE SCHOOL AND TO OVERSEE AND ASSESS THE ACCOUNTING POLICIES AND PRACTICES OF THE SCHOOL. THIS HAS NOT CHANGED FROM PRIOR YEAR.