2021-04-20T11:36:07-05:00 2020-06-30 420714325 RSM US LLP 9801 WASHINGTONIAN BLVD STE 500 GAITHERSBURG MD 20878 990 2019-07-01 520901098 NORWOOD SCHOOL INC NORW 3013652595 8821 RIVER ROAD BETHESDA MD 20817 MATTHEW A GOULD PHD HEAD OF SCHOOL 3013652595 2021-04-20 1 WILLIAM E TURCO CPA P00369217 3012963600 2021-04-20 2019 2022-09-23 18:48:47Z NORWOOD SCHOOL MATTHEW A GOULD PHD 8821 RIVER ROAD BETHESDA MD 20817 33635794 0 X WWW.NORWOODSCHOOL.ORG X 1952 MD NORWOOD SCHOOL'S CHILD-CENTERED PROGRAM INSPIRES CONFIDENT, COMPASSIONATE, INDEPENDENT, AND CREATIVE THINKERS WHO EMBRACE LIFELONG LEARNING. 19 17 263 250 0 0 4084616 2830675 16945273 17474289 1300687 895159 371996 291206 22702572 21491329 1951637 2028113 0 0 12709641 12633173 0 35000 764761 4386367 3819604 19047645 18515890 3654927 2975439 40375335 44969873 10233294 11138041 30142041 33831832 NORWOOD SCHOOL'S CHILD-CENTERED PROGRAM INSPIRES CONFIDENT, COMPASSIONATE, INDEPENDENT, AND CREATIVE THINKERS WHO EMBRACE LIFELONG LEARNING. 0 0 14248087 2028113 17474289 ALL INCOME AND EXPENSES ARE INCURRED THROUGH THE OPERATION OF AN INDEPENDENT SCHOOL GRADES K THROUGH 8 WITH 454 STUDENTS. IN ADDITION TO TUITION REVENUE, THE NORWOOD SCHOOL GENERATES REVENUE THROUGH THE OPERATIONS OF A SUMMER CAMP AND AUXILIARY PROGRAMS. 14248087 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 59 0 1 263 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 19 17 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X BILL TEACHUM 3013652595 8821 RIVER ROAD BETHESDA MD 20817 MATTHEW A GOULD HEAD OF SCHOOL 50.00 X 445339 0 113174 WILLIAM C TEACHUM BUSINESS MANAGER 50.00 X 161036 0 43585 MICHELE CLAEYS MIDDLE SCHOOL HEAD 40.00 X 195046 0 15460 CATHERINE VOEKS DIRECTOR OF DEVELOPMENT 40.00 X 143178 0 34517 MICHAEL RISEN DIRECTOR OF CURRICULUM & INSTRUCTION 40.00 X 134432 0 23957 MARY MULLIGAN DIRECTOR OF ADMISSION 40.00 X 137033 0 10476 DEBRA PAKALUK MIDDLE SCHOOL SCIENCE TEACHER 40.00 X 121584 0 17208 JENNIFER LUSTBADER CHAIR 6.00 X X 0 0 0 JOSHUA SPENCER VICE CHAIR 2.00 X X 0 0 0 SERGE LEARSEY TREASURER 2.00 X X 0 0 0 CHATICE YARBOROUGH SECRETARY 2.00 X X 0 0 0 DEBRA BARRETT TRUSTEE 2.00 X 0 0 0 JEFF CARSWELL TRUSTEE 2.00 X 0 0 0 MICHELLE FLING TRUSTEE 2.00 X 0 0 0 ANDREW KAY TRUSTEE 2.00 X 0 0 0 SUSAN LEE TRUSTEE 2.00 X 0 0 0 ROBERT MILLER TRUSTEE 2.00 X 0 0 0 DEL RENIGAR TRUSTEE 2.00 X 0 0 0 NISREEN SCHNEIDER TRUSTEE 2.00 X 0 0 0 FRAZIER SCHULMAN TRUSTEE 2.00 X 0 0 0 ELINOR SCULLY TRUSTEE 2.00 X 0 0 0 JEFFREY S SPIGEL TRUSTEE 2.00 X 0 0 0 BRADLEY C STEUART TRUSTEE 2.00 X 0 0 0 BETSY TURLEY TRUSTEE 2.00 X 0 0 0 BARBARA WIESEL TRUSTEE 2.00 X 0 0 0 JOHN WOO TRUSTEE 2.00 X 0 0 0 1337648 0 258377 9 0 1 0 COX GRAAE AND SPACK ARCHITECTS 2909 M STREET NW WASHINGTON DC 20007 ARCHITECTURAL SERVICES 527838 RIDGEWELLS CATERING 5525 DORSEY LANE BETHESDA MD 20816 SCHOOL FOOD SERVICE 470723 RED COATS INC PO BOX 79579 BALTIMORE MD 21279 JANITORIAL SERVICES 288819 MASON MECHANICAL SERVICES LLC PO BOX 548 JEFFERSON MD 21755 HVAC MECHANICAL SERVICES 134594 HANOVER INSURANCE GROUP PO BOX 580045 CHARLOTTE NC 28258 INSURANCE 108340 5 121967 2708708 295991 2830675 TUITION AND FEES 900099 17474289 17474289 17474289 397053 397053 183966 0 183966 183966 183966 12543860 37022 12047254 35522 496606 1500 498106 498106 164486 121967 61689 102797 102797 3390 0 3390 3390 OTHER INCOME 900099 1053 1053 1053 21491329 17474289 0 1186365 2028113 2028113 675286 514077 135069 26140 9566659 7427509 1773908 365242 615471 448421 136276 30774 1059501 693948 325628 39925 716256 521852 158591 35813 38579 38579 46968 46968 35000 35000 61676 61676 997396 685512 203954 107930 44389 10039 25580 8770 560414 381260 156057 23097 308489 291209 16905 375 150033 113798 12872 23363 105920 55675 47273 2972 30150 25532 3803 815 949679 804233 119779 25667 104225 91453 10518 2254 FOOD SERVICE & CATERING 344242 340934 2633 675 ASSOC DUES & ASSESSMENT 51294 3960 47334 BAD DEBT EXPENSES 14233 14233 GIFTS & RECOGNITION 11917 7352 3343 1222 -196790 162063 34727 18515890 14248087 3503042 764761 500 500 9922055 13365743 2419784 2165806 383493 149205 271600 312426 31907080 18255188 13563331 13651892 13814572 11110674 4152688 0 60939 40375335 44969873 1432629 1447041 6606496 7762996 1155840 1038329 1928004 10233294 11138041 X 16386454 17912162 13755587 15919670 30142041 33831832 40375335 44969873 2975439 714352 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16038965 2067611 1554114 2278316 61676 17320698 11861240 3294730 1325653 391760 50898 16038965 9805280 1198662 1131574 222056 52220 11861240 8239910 652800 1126803 169782 44451 9805280 8090771 779116 -458958 171019 8239910 0.17670 0.45300 0.37030 0 0 5580521 5580521 22382618 14932175 7450443 468996 358994 110002 3474945 2964019 510926 13651892 30760.65-ISHARES IBOXX INVT GRADE (LQD) 4152688 F 4152688 DEFERRED COMPENSATION 60939 PAYCHECK PROTECTION PROGRAM PROMISSORY NOTE 1867065 1928004 X 20177581 714352 -2028113 -1313761 21491342 61676 -61689 -13 21491329 16487790 61689 61689 16426101 61676 2028113 2089789 18515890 PART V, LINE 4: ENDOWMENT IS MADE UP OF TWO CATEGORIES: BOARD-DESIGNATED QUASI-ENDOWMENT FUNDS AND DONOR-RESTRICTED ENDOWMENT FUNDS. THE BOARD-DESIGNATED NET ASSETS SERVE AS QUASI-ENDOWMENT FUNDS HELD FOR LONG-TERM PURPOSES. BOARD DESIGNATED NET ASSETS ARE MADE UP OF OUR CHILDREN OUR PURPOSE INVESTMENT FUND, SURPLUS CASH INVESTMENT FUND, JESSICA LEWIS LUSTINE, EDWARD B. MARSH SCHOLARSHIP, ROSA SCOTT FUND FOR THE PERFORMING ARTS AND COMPUTER LEARNING. ALL EARNINGS FOR THE DONOR-RESTRICTED ENDOWMENT ARE REFLECTED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL APPROPRIATED FOR EXPENDITURES BY THE BOARD OF TRUSTEES. PERMANENTLY RESTRICTED NET ASSETS ARE RESTRICTED TO INVESTMENT IN PERPETUITY. INVESTMENT EARNINGS ON THESE AMOUNTS ARE USED TO SUPPORT THE FOLLOWING PROGRAMS: FACULTY SALARIES, FINANCIAL AID, ATHLETIC CENTER, EDUCATIONAL PROGRAMS AND STUDENT ACTIVITIES, OTHER SUPPORT AND FACILITY. PERMANENTLY RESTRICTED NET ASSETS ARE RESTRICTED TO INVESTMENT IN PERPETUITY. INVESTMENT EARNINGS ON THESE AMOUNTS ARE UNUSED TO SUPPORT THE FOLLOWING PROGRAMS: FACULTY SALARIES, FINANCIAL AID, ATHLETIC CENTER, EDUCATIONAL PROGRAMS AND STUDENT ACTIVITIES, OTHER SUPPORT AND FACILITY. PART X, LINE 2: THE SCHOOL IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE). IN ADDITION, THE SCHOOL HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A PRIVATE FOUNDATION. INCOME THAT IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. DURING THE YEAR ENDED JUNE 30, 2020, THE SCHOOL HAD NO TAXABLE UNRELATED BUSINESS INCOME, AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF MARYLAND. AS OF JUNE 30, 2020, AND FOR THE YEAR THEN ENDED, THERE WERE NO MATERIAL UNRECOGNIZED/DERECOGNIZED TAX BENEFITS OR TAX PENALTIES OR INTEREST. GENERALLY, THE SCHOOL IS NO LONGER SUBJECT TO TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: TUITION FOREGONE IN LIEU OF FINANCIAL AID -2,028,113. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES REPORTED ON LINE 8B, PART VIII -61,689. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES REPORTED ON LINE 8B, PART VIII 61,689. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION FOREGONE IN LIEU OF FINANCIAL AID 2,028,113. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 AN ANNOUCEMENT IS PRINTED IN THE WASHINGTON POST NEWSPAPER. SCHEDULE E, PART I, LINE 6 ON APRIL 23, 2020, THE SCHOOL APPLIED FOR AND RECEIVED $1,867,065 FROM THE PAYCHECK PROTECTION PROGRAM (PPP) AS PART OF THE CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY (CARES) ACT. THE NOTE MATURES ON APRIL 23, 2022, AND INCURS INTEREST AT 1% FOR THE TERM OF THE NOTE. THE NOTE WILL BE REPAID IN EIGHTEEN CONSECUTIVE MONTHLY PAYMENTS OF PRINCIPAL AND INTEREST OF APPROXIMATELY $105,070, BEGINNING ON NOVEMBER 23, 2020. THE NOTE MAY BE PREPAID AT ANY TIME WITHOUT PENALTY. FUNDS FROM THE NOTE MAY ONLY BE USED FOR PAYROLL COSTS, INTEREST ON OTHER DEBT OBLIGATIONS, LEASES, AND UTILITIES. THE SCHOOL INTENDS TO USE THE ENTIRE LOAN AMOUNT FOR QUALIFYING EXPENSES. THE SCHOOL WILL BE APPLYING FOR LOAN FORGIVENESS, WHICH COULD BE GRANTED IF THE SCHOOL MEETS THE NECESSARY CONDITIONS. X X X X X 1 THE COMPASS GROUP INC 2961-A-HUNTER MILL ROAD SUITE 808 OAKTON VA 22124 PLANNING AND COORDINATING OUR CAPITAL CAMPAIGN 0 0 35000 -35000 35000 -35000 MD ANNUAL BENEFIT AUCTION 286453 121967 164486 32795 28894 286453 121967 164486 32795 28894 61689 102797 1 FINANCIAL AID - TUITION 83 1951339 FINANCIAL AID - AFTER CARE 38 50649 FINANCIAL AID - TRANSPORTATION 13 8551 OTHER FINANCIAL ASSISTANCE 4 17574 PART I, LINE 2: FAMILIES ARE REQUIRED TO FILL OUT A SCHOOL AND STUDENT SERVICES (SSS) APPLICATION FOR EACH CHILD THEY ARE REQUESTING FINANCIAL ASSISTANCE FOR. THROUGH THE USE OF THIS FORM FAMILIES DISCLOSE ALL OF THEIR FINANCIAL INFORMATION AND INDICATE WHAT AMOUNT OF TUITION AND FEES THEY FEEL THEY ARE ABLE TO PAY. THIS FORM IS SUBMITTED DIRECTLY TO SSS. AFTER RECEIVING THE FAMILY'S APPLICATION FORM, SSS CALCULATES, FOR EACH CHILD, THE FAMILY'S ABILITY TO PAY BASED ON THE NUMBERS PROVIDED. THIS RESULT IS SENT TO THE SCHOOL'S FINANCIAL AID COMMITTEE. THE COMMITTEE USES THIS FORM AS WELL AS THE FAMILY'S TAX RETURN TO DETERMINE AN APPROPRIATE FINANCIAL AID AWARD TO OFFER THE FAMILY. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MATTHEW A GOULD HEAD OF SCHOOL 402231 0 0 0 43108 0 17202 0 96548 0 559089 0 0 0 WILLIAM C TEACHUM BUSINESS MANAGER 160778 0 0 0 258 0 13740 0 30369 0 205145 0 0 0 MICHELE CLAEYS MIDDLE SCHOOL HEAD 182908 0 0 0 12138 0 12880 0 3125 0 211051 0 0 0 CATHERINE VOEKS DIRECTOR OF DEVELOPMENT 143040 0 0 0 138 0 9977 0 25024 0 178179 0 0 0 MICHAEL RISEN DIRECTOR OF CURRICULUM & INSTRUCTION 134372 0 0 0 60 0 8621 0 15778 0 158831 0 0 0 PART I, LINE 1A MATTHEW A. GOULD, HEAD OF SCHOOL RECEIVED A NON-TAXABLE HOUSING BENEFIT IN THE AMOUNT OF $76,572. MICHELE CLAEYS, HEAD OF MIDDLE SCHOOL RECEIVED A TAXABLE HOUSING BENEFIT IN THE AMOUNT OF $12,000. 35289 FINANCIAL AID TUITION X 6 295991 FMV 0 0 1 0 PART I, COLUMN (B): REPORTING THE NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION A, LINE 4 NORWOOD SCHOOL MADE CHANGES TO THE "DUTIES SECTION AS WELL AS THE "VOTE REQUIRED FOR BOARD ACTION' DURING THE FISCAL YEAR JUNE 30, 2020. SECTION 2. DUTIES. THE PRIMARY RESPONSIBILITY OF THE BOARD OF TRUSTEES SHALL BE TO DETERMINE AND MAINTAIN THE CHARACTER OF THE SCHOOL, TO ESTABLISH OVERALL POLICY, TO CONDUCT STRATEGIC PLANNING, TO ENSURE THE FINANCIAL STABILITY OF THE SCHOOL, AND TO ASSESS CONTINUALLY THE SCHOOL'S EFFECTIVENESS IN CARRYING OUT THE MISSION, PHILOSOPHY, AND VISION OF THE CORPORATION. THE BOARD OF TRUSTEES SHALL HAVE, IN ADDITION TO SUCH POWERS AS ARE HEREINAFTER EXPRESSLY CONFERRED ON IT, SUCH POWERS AS MAY BE EXERCISED CONSISTENT WITH THE LAWS OF MARYLAND, THE ARTICLES OF INCORPORATION, AND THE BYLAWS, INCLUDING, BUT NOT LIMITED TO, THE POWER TO: (A)MONITOR THE SCHOOL'S FINANCIAL MANAGEMENT; APPROVE CAPITAL EXPENDITURES IN ACCORDANCE WITH THE FINANCIAL POLICIES ADOPTED BY THE BOARD; ADOPT ANNUAL CAPITAL AND OPERATING BUDGETS FOR THE SCHOOL; INSTITUTE, PROMOTE, AND DIRECT MAJOR FUNDRAISING FOR THE SCHOOL; AND OTHERWISE UNDERTAKE SUCH STEPS AS MAY BE NECESSARY TO PROTECT THE FINANCIAL STABILITY OF THE SCHOOL; (B)CREATE, MAKE, AND ISSUE MORTGAGES, BONDS, NOTES, DEEDS OF TRUST, TRUST AGREEMENTS AND NEGOTIABLE OR TRANSFERABLE INSTRUMENTS AND SECURITIES, AND TO TAKE EVERY ACT NECESSARY TO EFFECTUATE THE SAME; (C)PURCHASE, LEASE, OR OTHERWISE ACQUIRE PROPERTY, RIGHTS OR PRIVILEGES FOR THE SCHOOL; TRANSFER AND CONVEY THE SAME AND TO INVEST AND REINVEST, THE PRINCIPAL AND INCOME THEREOF; AND DEAL WITH AND EXPEND THE PRINCIPAL AND INCOME OF THE CORPORATION IN SUCH MANNER AS IN THE JUDGMENT OF THE TRUSTEES WILL BEST PROMOTE ITS OBJECTIVES; (D)PAY FOR SUCH PROPERTY, RIGHTS OR PRIVILEGES IN WHOLE OR IN PART, WITH MONEY, BONDS, DEBENTURES OR OTHER SECURITIES OF THE CORPORATION, OR BY THE DELIVERY OF OTHER PROPERTY OF THE CORPORATION; (E)SELECT AND EMPLOY A HEAD OF SCHOOL ("HEAD"), TO DETERMINE THE HEAD'S COMPENSATION, TO ESTABLISH THE HEAD'S DUTIES AND TERMS OF EMPLOYMENT, EVALUATE THE HEAD ON AN ANNUAL BASIS, TO DISMISS THE HEAD AT ITS DISCRETION, AND TO ENSURE APPROPRIATE SUCCESSION; (F)APPROVE, SUPPORT, GUIDE, AND PROMOTE THE SCHOOL'S MISSION, VISION, STRATEGIC GOALS, AND POLICY POSITIONS INCLUDING ENSURING THE DEVELOPMENT OF A SUPERIOR EDUCATIONAL AND RECREATIONAL PROGRAM FOR EACH AGE GROUP AND ENSURING THAT THE SCHOOL AT ALL TIMES IS PROVIDED WITH A COMPETENT SUPERVISORY AND TEACHING STAFF; (G)ELECT OFFICERS OF THE BOARD; AND (H)MAKE OR DIRECT THE MAKING OF OBLIGATIONS OF INDEBTEDNESS OR THE PAYMENT OF MONEY ON BEHALF OF THE CORPORATION, AND ITS NOTES OR INSTRUMENTS OF INDEBTEDNESS SHALL BE VALID ONLY WHEN SIGNED BY THE CHAIR OR TREASURER, OR PERSON AS THE BOARD MAY DESIGNATE. SECTION 7. VOTE REQUIRED FOR BOARD ACTION. AT ANY MEETING OF THE BOARD OF TRUSTEES, AT WHICH THERE IS A QUORUM, ALL MATTERS INCLUDING THE ELECTION OF TRUSTEES AND PRINCIPAL OFFICERS, SHALL BE DECIDED BY A MAJORITY VOTE OF THE VOTING TRUSTEES PRESENT AT SAID MEETING, UNLESS A GREATER PERCENTAGE IS PROVIDED BY LAW, OR REQUIRED BY THE ARTICLES OF INCORPORATION OR BY THESE BYLAWS AND EXCEPT IN THE CASE OF THE FOLLOWING MATTERS WHERE ACTION BY THE BOARD SHALL REQUIRE THE AFFIRMATIVE VOTE OF TWO-THIRDS (2/3) OF VOTING TRUSTEES: (A) MERGER; (B) DISSOLUTION; (C) SALE OR HYPOTHECATION OF SIGNIFICANT ASSETS (INCLUDING, BUT NOT LIMITED TO, FIXED ASSETS AND FUTURE INCOME) OR OTHERWISE INCURRING OBLIGATIONS OF MATERIAL INDEBTEDNESS; (D) REMOVAL OF OFFICERS OR VOTING TRUSTEES; AND (E) AMENDMENT OF THESE BYLAWS. TRUSTEES MUST BE PRESENT TO EXERCISE THEIR RIGHT TO VOTE ON ANY ISSUE BEFORE THE BOARD, HOWEVER, TRUSTEES MAY, AT THE DISCRETION OF THE BOARD CHAIR, ATTEND THE MEETING BY MEANS OF CONFERENCE TELEPHONE OR OTHER SIMILAR TELECOMMUNICATIONS EQUIPMENT, AND IF SO, TRUSTEES WILL BE CONSIDERED TO BE PRESENT IF TRUSTEES HAVE A REASONABLE OPPORTUNITY TO PARTICIPATE IN THE MEETING, INCLUDING AN OPPORTUNITY TO READ OR HEAR THE PROCEEDINGS OF THE MEETING CONCURRENTLY WITH THE PROCEEDINGS AND ALL PERSONS PARTICIPATING IN THE MEETING CAN HEAR EACH OTHER. VOTING BY PROXY SHALL NOT BE PERMITTED. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETE 990 WILL BE REVIEWED WITH THE AUDIT COMMITTEE, WHICH IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES AS WELL AS NON BOARD MEMBERS. IT WILL THEN BE PRESENTED TO THE FULL BOARD OF TRUSTEES. THE SCHEDULE B INFORMATION WILL BE DISTRIBUTED TO THE FULL BOARD OF TRUSTEES WITH THE EXCEPTION OF THE NAMES OF THE DONORS WHO REQUESTED ANONYMITY. THOSE NAMES WILL BE MADE AVAILABLE TO THE TRUSTEES UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS PRESENTED TO EACH INCOMING BOARD OF TRUSTEE MEMBER AT THE BEGINNING OF EACH TERM. IT IS ALSO INCLUDED IN THE ANNUAL TRUSTEE PACKET ALONG WITH THE CONFIDENTIALITY AGREEMENT. EACH BOARD MEMBER IS ASKED TO READ THOROUGHLY AND ACKNOWLEDGE THAT THEY UNDERSTAND AND WILL ABIDE BY THE POLICIES. ANY POTENTIAL CONFLICTS ARE TO BE IDENTIFIED BY EACH MEMBER OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE HEAD OF SCHOOL IS DETERMINED EACH YEAR BY THE COMPENSATION COMMITTEE WHICH IS MADE UP FROM MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THEY USE PERFORMANCE REVIEWS AS WELL AS DATA FROM AREA INDEPENDENT SCHOOL MEMBER ORGANIZATIONS SUCH AS AISGW AND AIMS TO COMPARE OTHER HEAD OF SCHOOL SALARIES. A FULL COMPENSATION STUDY BY AN OUTSIDE CONSULTANT IS DONE PERIODICALLY. THE COMPENSATION OF KEY EMPLOYEES AND OTHER OFFICERS OF THE SCHOOL ARE DETERMINED BY THE HEAD OF SCHOOL. PERFORMANCE REVIEWS AS WELL AS DATA FROM AREA INDEPENDENT SCHOOL MEMBER ORGANIZATIONS SUCH AS AISGW AND AIMS ARE USED TO COMPARE THOSE SALARIES TO OTHER SCHOOLS. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.