2021-05-14T19:23:16-05:00 2020-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2019-07-01 042103574 THE FESSENDEN SCHOOL FESS 6179645350 250 WALTHAM STREET WEST NEWTON MA 02465 MICHAEL DYLINGOWSKI CONTROLLER/INTERIM CFO 6179645350 2021-05-14 1 LYNNE JOHNSON P00757336 6179129000 2019 2022-09-23 18:48:47Z STEVE ARMSTRONG 250 WALTHAM STREET WEST NEWTON MA 02465 56990236 0 X WWW.FESSENDEN.ORG X 1930 MA THE FESSENDEN SCHOOL CULTIVATES EACH BOY'S TALENTS AND DEVELOPS IN BALANCE HIS CHARACTER, MIND, AND BODY IN AN INCLUSIVE AND JOYFUL COMMUNITY. 23 23 406 25 19342 22960 6222929 4805726 26177952 26689253 1115654 -677799 631960 433384 34148495 31250564 3380560 3856540 0 0 17896867 18142399 0 0 1503837 10309584 10460138 31587011 32459077 2561484 -1208513 109486936 107042545 36267391 33094984 73219545 73947561 X THE FESSENDEN SCHOOL CULTIVATES EACH BOY'S TALENTS AND DEVELOPS IN BALANCE HIS CHARACTER, MIND, AND BODY IN AN INCLUSIVE AND JOYFUL COMMUNITY. 0 1 22939056 3856540 24839500 THE FESSENDEN SCHOOL IS AN INDEPENDENT BOYS ELEMENTARY SCHOOL FOR BOTH RESIDENT AND DAY STUDENTS WITH GRADES PRE-KINDERGARTEN THROUGH NINTH. THE PROGRAM HAS APPROX. 500 STUDENTS OF BOTH DOMESTIC AND INTERNATIONAL ORIGIN. ACADEMIC, ART AND ATHLETIC PROGRAMS ALL PLAY AN INTEGRAL PART OF EACH STUDENT'S EDUCATIONAL AND PERSONAL GROWTH. 1618175 1228558 THE FESSENDEN SCHOOL SUMMER DAY CAMP PROGRAM PROVIDES 300+ CHILDREN WITH A DIVERSIFIED, SAFE AND REWARDING EDUCATIONAL EXPERIENCE. THE PROGRAM OPERATES FROM JULY THROUGH AUGUST AND IS LOCATED ON THE SCHOOL'S 42 ACRE CAMPUS, AND UTILIZES THE SPACIOUS GROUNDS, 2 SWIMMING POOLS, CLASSROOM BUILDINGS, TENNIS COURTS AND ATHLETIC CENTER. 1328084 522838 THE FESSENDEN DAYCARE SERVICES THE LOCAL COMMUNITY AT LARGE, PROVIDING INFANT, TODDLER, AND PRESCHOOL PROGRAMS TO APPROXIMATELY 40 GIRLS AND BOYS. 31541 61250 FESSENDEN AUXILIARY PROGRAM - OTHER 78205 37107 FESSENDEN SUMMER SPORTS CAMPS & VACATION PROGRAMS 37275 PARENTS ASSOCIATION - FEE CHARGED TO ALL STUDENTS THAT GOES TOWARDS FUNDING SPEAKERS, PERFORMERS, AND SCHOOL EVENTS. 14519 YEARBOOK ADS 109746 150151 25995061 1 1 0 0 0 0 0 0 1 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 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 42 0 1 406 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 23 23 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X MICHAEL DYLINGOWSKI CONTROLLERINTERIM CFO 6176302357 250 WALTHAM STREET WEST NEWTON MA 02465 STEVE ARMSTRONG HEAD OF SCHOOL 45.00 X 371477 0 60960 LAURA RUTHERFORD CFO 45.00 X 227728 0 22736 ABIGAIL BUCCELLA DIRECTOR OF ADVANCEMENT 45.00 X 157777 0 87325 MICHAEL GROSSMAN COO 45.00 X 169844 0 50970 KENNETH HOWE DIRECTOR OF RESIDENTIAL LIFE 45.00 X 144549 0 62936 CALEB THOMSON DIRECTOR OF ADMISSIONS 45.00 X 145287 0 31916 STEPHEN BILLHARDT HEAD OF LOWER SCHOOL 45.00 X 137357 0 13702 ADAM ABRAMSON TRUSTEE 1.00 X 0 0 0 ALEX MARX TRUSTEE 1.00 X 0 0 0 CHRISTINE TODD TRUSTEE 1.00 X 0 0 0 CRAIG GEMMELL TRUSTEE 1.00 X 0 0 0 DAVID VISCO TRUSTEE 1.00 X 0 0 0 DEVIN CONDRON TRUSTEE 1.00 X 0 0 0 JEFF ALLEN TRUSTEE 1.00 X 0 0 0 MICHELLE SANCHEZ TRUSTEE 1.00 X 0 0 0 STEPHANIE BUCCI TRUSTEE 1.00 X 0 0 0 SUSAN LEVINE TRUSTEE 1.00 X 0 0 0 WILLIAM ELFERS TRUSTEE 1.00 X 0 0 0 MONICA PALMER TRUSTEE 1.00 X 0 0 0 HERBERT HOLTZ TRUSTEE 1.00 X 0 0 0 ALEXANDER SACERDOTE TRUSTEE 1.00 X 0 0 0 SPENCER ZWICK TRUSTEE 1.00 X 0 0 0 TG DOUGLAS TRUSTEE 1.00 X 0 0 0 LINDA HENRY TRUSTEE 1.00 X 0 0 0 CRAIG MAURER TRUSTEE 1.00 X 0 0 0 VINCENT MONTEMAGGIORE TRUSTEE 1.00 X 0 0 0 CHRIS BARTEL TRUSTEE/TREASURER 1.00 X X 0 0 0 KEITH B GELB TRUSTEE/VICE PRESIDENT 1.00 X X 0 0 0 SOL KUMIN TRUSTEE/PRESIDENT 1.00 X X 0 0 0 TARA CIONGOLI TRUSTEE/CLERK 1.00 X X 0 0 0 1354019 0 330545 16 0 1 0 ZVI CONSTRUCTION CO LLC 131 DUMMER ST BROOKLINE MA 02446 CONSTRUCTION 801942 ATR TREEHOUSE 812 CHARLES ST PROVIDENCE RI 02904 AV DESIGN AND INSTALLATION 340930 CBT 110 CANAL ST BOSTON MA 02114 ARCHITECTS 245962 COMPASS FACILITY SERVICES 65 JACKMAN ST GEORGETOWN MA 01833 CLEANING SERVICES 192055 LOCAL MOTION INC 66B ROCSAM PARK ROAD BRAINTREE MA 02184 BUS TRANSPORTATION SERVICE 173140 5 4805726 388410 4805726 TUITION AND FEES 611600 24839500 24839500 SUMMER DAY CAMP 611710 1228558 1228558 AUXILIARY - DAY CARE 611710 522838 522838 VACATION PROGRAM 611710 61250 61250 SUMMER CAMPS 611710 37107 37107 26689253 697578 -115 697693 738636 564348 174288 174288 -4503 178791 23755583 25118221 12739 -1362638 -12739 -1375377 -1375377 65878 44364 21514 23960 -2446 PARENT ASSOCIATION 611710 37275 37275 YEARBOOK ADS 900099 14519 14519 185788 185788 237582 31250564 26741047 19342 -315551 3856540 3856540 686216 647776 38440 13738734 11368717 1540624 829393 977963 754419 171002 52542 1725858 1331470 301691 92697 1013628 781585 177504 54539 202496 156335 46161 146551 146551 77530 77530 361163 361163 224217 149395 56868 17954 176291 55252 51799 69240 1131268 619456 454858 56954 240238 88367 123607 28264 534794 512347 16141 6306 127521 6673 96334 24514 129734 100771 24252 4711 786250 766280 12265 7705 3111802 3032762 48544 30496 222975 222975 SUPPLIES & EQUIPMENT 1156965 1115658 34460 6847 FOOD 640595 573539 59380 7676 STUDENT ACTIVITIES 456277 456277 EVENTS & FUNCTIONS 427332 247768 74817 104747 306139 177785 103703 24651 32459077 25995061 4960179 1503837 12145107 3942074 200425 788252 449832 143545 112136 475020 360894 77030549 34797616 43863059 42232933 21481325 26898125 28929232 31762669 1460971 1283882 109486936 107042545 3834576 2876049 6925854 5648071 25458117 24508016 26446 62848 22398 0 36267391 33094984 X 55768121 56034056 17451424 17913505 73219545 73947561 109486936 107042545 -1208513 1936529 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 48250673 2486934 760739 779771 1149052 6077 49563446 47747254 1086091 1320033 1902705 48250673 47741298 157713 1724075 1875832 47747254 43875807 116203 5613205 1863917 47741298 48249384 71903 -2394119 2051361 43875807 0.66000 0.24000 0.10000 0 0 159808 159808 70895102 30083800 40811302 5354029 4122206 1231823 621610 591610 30000 42232933 LIMITED PARTERNSHIPS 14029315 F ANNUITY CONTRACTS 582941 F INTERNATIONAL EQUITY INSTITUTUIONAL FUNDS 10929277 F DEVELOPED US EQUITY 5238763 F EMERGING MARKETS EQUITY 982373 F 31762669 X 29578103 1936529 -4217703 -2281174 31859277 -608713 -608713 31250564 28850087 608713 608713 28241374 4217703 4217703 32459077 PART IV, LINE 2B: ALL BOARDING STUDENTS HAVE A SMALL CASH BALANCE OF $300 TO $1,000 FOR SPENDING MONEY ON THE WEEKENDS AND FOR TRAVEL MONEY WHEN THEY RETURN HOME FOR BREAKS. THE FUNDS ARE KEPT IN A SEPARATE BANK ACCOUNT, AND STUDENTS DRAW FROM IT ON A WEEKLY BASIS BY SUBMITTING CASH REQUEST. PART V, LINE 4: THE ENDOWMENT FUND ENSURES THAT CURRENT AND FUTURE GENERATIONS OF FESSENDEN STUDENTS HAVE ACCESS TO THE BEST FACULTY, COMMUNITY, CURRICULUM, AND FACILITIES. SPECIFICALLY, THE ENDOWMENT SUPPORTS: SALARY ENHANCEMENT, FINANCIAL AID, PROFESSIONAL DEVELOPMENT, PLANT MAINTENANCE, AND INSTRUCTIONAL AND PROGRAM MATERIALS. PART X, LINE 2: THE SCHOOL IS QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES EXCEPT FOR NET REVENUE FROM UNRELATED BUSINESS ACTIVITIES. THE SCHOOL IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME. THE SCHOOL RECOGNIZES A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAD NO MATERIAL UNCERTAINTIES IN INCOME TAXES AS OF JUNE 30, 2020 AND 2019. THE SCHOOL WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. WITH FEW EXCEPTIONS, THE SCHOOL IS ONLY SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL AUTHORITIES FOR THREE YEARS FROM THE FILING DATE. INTEREST AND PENALTIES, IF ANY, ARE INCLUDED IN INCOME TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION NETTED WITH REVENUE -3,856,540. INVESTMENT MANAGEMENT FEES -361,163. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD EXPENSE REPORTED IN FORM 990, PART VIII, LINE 10B -42,563. RENTAL EXPENSES REPORTED IN FORM 990, PART VIII, LINE 6B -566,150. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED IN FORM 990, PART VIII, LINE 6B 566,150. COST OF GOODS SOLD EXPENSE REPORTED IN FORM 990, PART VIII, LINE 10B 42,563. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED IN FORM 990, PART IX, LINE 2 3,856,540. INVESTMENT MANAGEMENT FEES 361,163. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 RACIALLY NONDISCRIMINATORY POLICY IS INCLUDED IN ALL COMMUNICATIONS TO THE COMMUNITY. 1 FINANCIAL AID FOR TUITION AND FEES 81 3168320 FMV TUITION REMISSION 23 688220 FMV PART I, LINE 2: THE FESSENDEN SCHOOL UTILIZES THE SERVICES OF THE SCHOOL AND STUDENT SERVICE (SSS) BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS). BASED UPON A WRITTEN APPLICATION, SSS ASSESSES A FAMILY'S RESOURCES TO DETERMINE HOW MUCH THAT FAMILY CAN AFFORD FOR EDUCATION. USING THIS REPORT, OTHER AVAILABLE INFORMATION AND THE SCHOOL'S OWN POLICIES, THE FESSENDEN FINANCIAL AID COMMITTEE DETERMINES AN APPROPRIATE GRANT BASED UPON THE STUDENT'S NEED, THE SCHOOL'S PRIORITIES AND FINANCIAL AID RESOURCES. RECORDS ARE MAINTAINED AND REVIEWED AS EACH STUDENT MUST RE-APPLY EACH YEAR TO QUALIFY AND RECEIVE ASSISTANCE. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 STEVE ARMSTRONG HEAD OF SCHOOL 324407 0 0 0 47070 0 15850 0 45110 0 432437 0 0 0 LAURA RUTHERFORD CFO 227728 0 0 0 0 0 22736 0 0 0 250464 0 0 0 ABIGAIL BUCCELLA DIRECTOR OF ADVANCEMENT 157777 0 0 0 0 0 16100 0 71225 0 245102 0 0 0 MICHAEL GROSSMAN COO 169844 0 0 0 0 0 18374 0 32596 0 220814 0 0 0 KENNETH HOWE DIRECTOR OF RESIDENTIAL LIFE 144549 0 0 0 0 0 15724 0 47212 0 207485 0 0 0 CALEB THOMSON DIRECTOR OF ADMISSIONS 145287 0 0 0 0 0 13916 0 18000 0 177203 0 0 0 STEPHEN BILLHARDT HEAD OF LOWER SCHOOL 137357 0 0 0 0 0 13702 0 0 0 151059 0 0 0 PART I, LINE 1A QUALIFIED CAMPUS LODGING IS LOCATED ON THE CAMPUS OF THE EDUCATIONAL INSTITUTION AND IS FURNISHED TO AN EMPLOYEE, THE EMPLOYEE'S SPOUSE, OR ANY DEPENDENTS, BY OR ON BEHALF OF, THE INSTITUTION FOR USE AS A RESIDENCE AND IS EXCLUDED FROM GROSS INCOME IF IT QUALIFIES UNDER CODE SECTION 119. HOUSING FOR STEVEN ARMSTRONG, KENNETH HOWE, AND CALEB THOMSON QUALIFIES UNDER CODE SECTION 119. THIS NONTAXABLE BENEFIT IS REPORTED IN PART II, COLUMN (D) FOR THESE INDIVIDUALS. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 999999999 2017-09-08 16000000 SEE PAGE 4 FOR SERIES 2017A BOND DESCRIPTION OF PURPOSE 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 999999999 2017-09-08 9000000 SEE PAGE 4 FOR SERIES 2017B BOND DESCRIPTION OF PURPOSE 0 0 0 A 1066667 16000000 75416 260745 15663839 2018 0 0 0 1 B 9000000 50277 8949723 2019 0 0 0 1 A 0 1 0 0 0.01000 0.01250 0.02250 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART I: ON SEPTEMBER 8, 2017, THE SCHOOL REFINANCED THEIR EXISTING BONDS AND WAS APPROVED FOR FINANCING UP TO $25,000,000 THROUGH THE MASSACHUSETTS DEVELOPMENT FINANCE AGENCY. THE BONDS INCLUDED $16,000,000 SERIES 2017A AND UP TO $9,000,000 SERIES 2017B. THE SERIES 2017A BONDS WERE USED FIRST TO REFINANCE THE OUTSTANDING AMOUNT OF THE SERIES 2014A AND SERIES 2014B BONDS AND, SECOND, TO FUND COSTS OF ISSUANCE WITH RESPECT TO THE SERIES 2017A BOND. THE SERIES 2017B BONDS WERE AVAILABLE FOR THE CONSTRUCTION OF AN ARTS CENTER AND VARIOUS CAPITAL PROJECTS AND WERE REQUIRED TO BE FULLY DRAWN NO LATER THAN TWENTY-FOUR MONTHS FROM CLOSING. THE SERIES 2017B BONDS WERE FULLY DRAWN IN THE CURRENT YEAR. THESE BONDS ARE SECURED BY ALL BUSINESS ASSETS. INTEREST ON THE 2017A BONDS IS PAYABLE MONTHLY AT A FIXED RATE OF 3.1% BASED ON A THIRTY YEAR AMORTIZATION SCHEDULE. THE 2017A BONDS ARE SUBJECT TO CERTAIN FINANCIAL COVENANTS AND REQUIRE ANNUAL PRINCIPAL PAYMENTS THROUGH AUGUST 31, 2031. THE 2017B BONDS ARE SUBJECT TO CERTAIN FINANCIAL COVENANTS AND REQUIRE INTEREST-ONLY PAYMENTS PAID MONTHLY AT A FIXED RATE OF 3.1% FOR THE FIRST FIVE YEARS FROM CLOSING. IN YEAR SIX THROUGH MATURITY OF AUGUST 31, 2031, MONTHLY PAYMENTS OF PRINCIPAL AND INTEREST AT A FIXED RATE OF 3.1% ARE REQUIRED BASED ON A TWENTY-FIVE YEAR AMORTIZATION SCHEDULE. THE OUTSTANDING BALANCE OF THE BONDS AT JUNE 30, 2020 AND 2019 AMOUNTED TO $23,933,333 AND $24,466,667, RESPECTIVELY. SCHEDULE K, PART I, BOND ISSUES: SERIES 2017A BOND DESCRIPTION OF PURPOSE: TO REFINANCE THE OUTSTANDING AMOUNT OF THE SERIES 2014A AND SERIES 2014B BONDS AND TO FUND COSTS OF ISSUANCE WITH RESPECT TO THE SERIES 2017A BOND. SCHEDULE K, PART I, BOND ISSUES: SERIES 2017B BOND DESCRIPTION OF PURPOSE: SERIES 2017B BONDS ARE FOR THE CONSTRUCTION OF AN ARTS CENTER AND VARIOUS CAPITAL PROJECTS. X 9 388410 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IS BASED ON THE NUMBER OF GIFTS RECEIVED. FORM 990, PART III, LINE 3 THE SCHOOL HAS DISCONTINUED ITS SUMMER ESL PROGRAM. FORM 990, PART VI, SECTION A, LINE 4 THE FESSENDEN SCHOOL REVISED AND RESTATED ITS BYLAWS ON OCTOBER 10TH, 2019. THE BY-LAWS WERE REVISED AS FOLLOWS: ARTICLE 1 - THE MISSION STATEMENT WAS REVISED: THE FESSENDEN SCHOOL CULTIVATES EACH BOY'S TALENTS AND DEVELOPS IN BALANCE HIS CHARACTER, MIND, AND BODY IN AN INCLUSIVE AND JOYFUL COMMUNITY. ARTICLE 2 - THE ADVANCEMENT COMMITTEE WAS COMBINED WITH THE STRATEGIC PLANNING COMMITTEE AND AN AD-HOC COMMITTEE SECTION WAS ADDED. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES RECEIVES AN ELECTRONIC COPY OF THE FORM 990, 990-T AND ANY OTHER RELATED AND REQUIRED FILINGS, AS FILED, BEFORE THE FILING DEADLINE. BEFORE FILING, MEMBERS OF MANAGEMENT REVIEW THE RETURNS FOR ACCURACY AND COMPLETENESS. AT A LATER DATE AFTER THE FILING OF THE RETURNS, THE SCHOOL'S AUDIT COMMITTEE ALONG WITH MEMBERS OF SCHOOL'S MANAGEMENT REVIEW THE RETURNS ALONG WITH THE RESULTS OF THE AUDIT. THE RESULTS OF THE YEAR-END AUDIT, REVIEW OF THE FORM 990, AND ANY FINDINGS, CHANGES OR AREAS OF CONCERN ARE COMMUNICATED TO THE BOARD AT THE FIRST BOARD MEETING OF THE FISCAL YEAR SO APPROPRIATE CORRECTIVE ACTION, IF ANY, CAN BE TAKEN. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY TO THE BOARD OF TRUSTEES AT THE FIRST MEETING AND TO EMPLOYEES VIA THE EMPLOYEE HANDBOOK EACH YEAR. THE BOARD OF TRUSTEE MEMBERS ARE ASKED TO SIGN A DISCLOSURE STATEMENT INDICATING YES OR NO TO ANY CONFLICTS. RESULTS ARE REVIEWED IN ACCORDANCE WITH THE POLICY. EMPLOYEES ARE ASKED TO SIGN A FORM INDICATING RECEIPT OF THE EMPLOYEE HANDBOOK AND THE ENCLOSED CONFLICT OF INTEREST POLICY. RESULTS ARE REVIEWED IN ACCORDANCE WITH THE POLICY. RETURNED FORMS ARE ACCOUNTED FOR, AND ANY MISSING FORMS ARE PURSUED WITH THE BEST REASONABLE EFFORTS TO COLLECT THEM. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION ISSUES CONTRACTS CONTAINING THE DETAILS OF THE COMPENSATION PACKAGE FOR ALL NEW OFFICERS, TOP MANAGEMENT AND KEY EMPLOYEES. THE INITIAL PROCESS FOR HIRING OFFICERS, TOP MANAGEMENT AND KEY EMPLOYEES USUALLY INVOLVES AN INDEPENDENT SEARCH COMMITTEE AND CONSULTANTS WHO IDENTIFY CANDIDATES BASED UPON THE REQUIRED SKILLS, EXPERIENCE, ETC., SET FORTH BY THE ORGANIZATION. THE POOL OF CANDIDATES WILL THEN BE INTERVIEWED BY A COMMITTEE OF BOARD MEMBERS AND OTHER TOP MANAGEMENT. DURING THIS PROCESS, THE CONSULTANTS, BOARD AND TOP MANAGEMENT ALSO DETERMINE THE COMPENSATION BASED UPON THE LEVEL OF POSITION, EXPERIENCE OF CANDIDATE, THE MARKETPLACE, DEMOGRAPHICS AND COMPARING DATA WITH SIMILAR ORGANIZATIONS AND POSITIONS. THE YEARS FOLLOWING THE HIRE OF AN OFFICER, TOP MANAGEMENT OR KEY EMPLOYEE INVOLVE A REVIEW PROCESS THAT INCLUDES AN EVALUATION UTILIZING COMPARABILITY DATA. UNLESS THERE ARE SIGNIFICANT CHANGES TO THE ORIGINAL DUTIES ASSIGNED FOR THE POSITION OR OTHER FACTORS THAT MAY WARRANT A CHANGE IN COMPENSATION, INCREASES ARE IN THE RANGE VOTED BY THE BOARD FOR ALL EMPLOYEES OF THE ORGANIZATION. THE PROCESS OF DETERMINING COMPENSATION FOR THE HEADMASTER (CEO) IS MORE IN DEPTH. IN APRIL, DURING THE THIRD BOARD MEETING OF THE FISCAL YEAR, A HEADMASTER EVALUATION SURVEY IS DISTRIBUTED TO THE BOARD OF TRUSTEES. ALL TRUSTEES COMPLETE THE SURVEY QUESTIONS. THE PRESIDENT OF THE BOARD RECEIVES THE RESULTS AND FORMS A SUB-COMMITTE OF THE BOARD MADE UP OF INDIVIDUALS OF THE BOARD, WHO REVIEW THE RESULTS. DISCUSSIONS TAKE PLACE ABOUT THE RESULTS, EXPECTATIONS, NEW GOALS, ETC... AND ARE THEN DISCUSSED WITH THE HEADMASTER. THE COMPENSATION IS THEN ESTABLISHED AND SET FOR THE NEXT FISCAL YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). ALL DOCUMENTS ARE AVAILABLE TO BE VIEWED ON-SITE AS WELL. IN ADDITION, THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE.