2015-05-12T13:15:00-05:00 2014-06-30 KPMG LLP One Financial Plaza Hartford CT 061032608 990 2013-07-01 060653118 The Greenwich Academy Inc % DONNA MATHESON GREE 2036258900 200 NORTH MAPLE AVENUE Suite GREENWICH CT 068304799 DONNA MATHESON CFO 2035524408 2015-05-12 true MARY-EVELYN ANTONETTI P00431862 2035524408 2013 2016-03-07 17:11:31Z MOLLY H KING 200 NORTH MAPLE AVENUE GREENWICH CT 06830 59608186 false X WWW.GREENWICHACADEMY.ORG X 1924 CT THE MISSION OF THE SCHOOL IS TO PROVIDE AN EDUCATIONAL EXPERIENCE FOR GIRLS & YOUNG WOMEN GROUNDED IN A LIBERAL ARTS CURRICULUM WITHIN AN INCLUSIVE, DIVERSE COMMUNITY. 32 32 249 200 848870 13451800 19586998 30653648 31994543 1420707 44880 674487 595524 46200642 52221945 5321295 5648666 0 0 19744659 21074914 0 0 1498676 14843883 15670879 39909837 42394459 6290805 9827486 193625714 197064948 56628748 45611372 136996966 151453576 X GREENWICH ACADEMY IS AN INDEPENDENT COLLEGE-PREPARATORY DAY SCHOOL FOR GIRLS AND YOUNG WOMEN THAT SEEKS TO FOSTER EXCELLENCE. FOR MORE INFORMATION, SEE SCHEDULE O. false false 35475434 5648666 31994453 GREENWICH ACADEMY IS A COLLEGE-PREPARATORY DAY SCHOOL SERVING GIRLS IN GRADES PRE-KINDERGARTEN THROUGH GROUP XII. ALL EXPENDITURES FOR COMPENSATION AND OTHER EXPENSES ARE IN SUPPORT OF INSTRUCTIONAL AND INSTITUTIONAL ACTIVITIES. THIS INCLUDES THE INSTRUCTION OF APPROXIMATELY 800 GIRLS BY 223 FULL-TIME AND PART-TIME FACULTY AND STAFF. 35475434 true true false false false false false false false true true true false false false true true false true false true false false false true false false false true true true false false false false false false false false false false true false false false false false false false false true 189 0 true 249 true true true false false false false true true true 1 false false false X 32 32 true false false false true true true true true false false false true true true true true true false false X DONNA MATHESON 2036258985 200 NORTH MAPLE AVENUE GREENWICH CT 06830 Molly H King Head of School 40.0 X X 682296 0 145554 J Timothy Morris Chairman 15.0 X X 0 0 0 James R Matthews Trustee - Executive Committee 5.0 X X 0 0 0 Wendell L Willkie III Trustee - Executive Committee 5.0 X X 0 0 0 Brett Barakett Trustee 1.0 X 0 0 0 Melissa Labov Dweck Alumnae Association President 1.0 X 0 0 0 Susan Lehman Carmichael Trustee 1.0 X 0 0 0 Samantha Jansson Trustee 1.0 X 0 0 0 Rene M Kern Trustee 1.0 X 0 0 0 Douglas R Korn Trustee 1.0 X 0 0 0 Elizabeth Darst Leykum Trustee 1.0 X 0 0 0 Anthony J Noto Trustee 1.0 X 0 0 0 Linda D O'Neill Trustee 1.0 X 0 0 0 Barnett D Osman Trustee 1.0 X 0 0 0 Linda C Reals Trustee 1.0 X 0 0 0 Barbara M Riley Ex Officio 1.0 X 0 0 0 David I Stemerman Trustee 1.0 X 0 0 0 Jeffrey A Wolfson Trustee 1.0 X 0 0 0 Carlos Brito Trustee 1.0 X 0 0 0 Eunice J Burnett Trustee 1.0 X 0 0 0 Edward A Mule Trustee 1.0 X 0 0 0 Adam B Frankel Trustee 1.0 X 0 0 0 Heather Johnson Sargent Trustee 1.0 X 0 0 0 Priya G Trauber Trustee 1.0 X 0 0 0 Victoria B Waters Trustee 1.0 X 0 0 0 Thomas Dunn Trustee 1.0 X 0 0 0 Rex R K Chung Trustee since 7/01/2013 1.0 X 0 0 0 Helen Cutting Fitzgerald Trustee since 7/01/2013 1.0 X 0 0 0 Alexander E Jackson Trustee sine 7/1/2013 1.0 X 0 0 0 Sonnet G McKinnon Trustee since 7/1/2013 1.0 X 0 0 0 Barbara M Morris Parent Asso. Pres since 7/1/13 1.0 X 0 0 0 Craig W Packer Trustee 1.0 X 0 0 0 Lauren Berkley Saunders Trustee since 7/1/2013 1.0 X 0 0 0 Mark Feiner Assistant Head of School 40.0 X 265535 0 77719 Donna Matheson CFO 40.0 X 259717 0 35605 Donna Byrnes Director of Advancement 40.0 X 246275 0 39205 Rebecca Walker Head of Middle School 40.0 X 229428 0 119490 Thomas Sullivan Head of Upper School 40.0 X 209797 0 68800 Jon Ross-Wiley HEAD OF LOWER SCHOOL 40.0 X 159442 0 100588 Abby Katz Director of Admissions 40.0 X 131294 0 102909 Katherine Schulze Director of Technology 40.0 X 119760 0 101543 2303544 0 791413 39 false true false SODEXO PO BOX 360170 PITTSBURGH PA 15251 FACILITIES CONTRACT 2028063 CEBULSKI CONSTRUCTION COMPANY CO 651 LINDLEY STREET BRIDGEPORT CT 06606 CONSTRUCTION 1748774 FLIK Independent Schools 2400 Yorkmont Road Charlotte NC 28217 Food Services 840322 KPMG LLP 345 Park Avenue New York NY 10154 Audit 156500 Quality Improvements LLC 30 BRIDGE STREET SUITE 304 NEW MILFORD CT 06776 Construction 286148 6 118969 19468029 2799611 19586998 TUITION AND FEES 611710 28690723 28690723 OTHER PROGRAMS AND ACTIVITIES FEES 900099 3303820 2642292 661528 31994543 78637 187342 -108705 0 0 445280 124853 320427 0 320427 320427 6386625 437281 6324859 532804 61766 -95523 -33757 -33757 96831 118969 60463 36368 36368 0 446395 343262 103133 103133 Miscellaneous 900099 135596 135596 135596 52221945 31333015 848870 453062 0 5648666 5648666 0 0 1751908 1401527 262786 87595 0 15526766 12421418 2329013 776335 1153225 922580 172984 57661 1565872 1252698 234881 78293 1077143 861715 161571 53857 35586 35586 95451 95451 154650 154650 0 0 348768 318295 30473 1212986 1018569 168615 25802 0 2826550 2517269 258173 51108 0 0 3055659 2862460 129588 63611 0 0 275974 248377 22078 5519 1672382 1672382 0 4282092 3853883 342567 85642 333790 327114 6676 Maintenance for Cowan Center 260088 260088 Early Childhood/Summer Prog. 240444 240444 Parents Association 363785 363785 Capital Campaign 124653 124653 388021 293358 43212 51451 42394459 35475434 5420349 1498676 X 2000 2000 60468349 25122118 15387090 16247872 820263 2188469 0 0 0 0 917500 1152233 345725 181017 495245 349181 117918357 45331784 75163646 72586573 5151290 14382672 33396758 63792335 0 0 0 0 1477848 1060478 193625714 197064948 4024489 3672183 0 0 12129966 12608602 40474293 29330587 0 0 0 0 0 0 0 0 0 0 56628748 45611372 X 95194865 107707514 24083858 25999013 17718243 17747049 136996966 151453576 193625714 197064948 X 9827486 4629124 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 79043477 13813300 4601106 13513303 83944580 68065945 9082886 4971525 3076879 79043477 71702555 6536309 5235920 15408839 68065945 66697689 4034619 4292857 3322610 71702555 60521926 7132475 2968769 3925481 66697689 0.71351 0.28649 false false 9055307 9055307 92785753 33144206 59641547 0 0 0 9620881 7290089 2330792 6456416 4897489 1558927 72586573 HEDGE FUND 31887192 F INVESTMENTS IN REAL ASSETS 6651014 F MONEY MKT FD HELD BY BOND TTEE 3154796 F PRIVATE EQUITY FUND 4451324 F FIXED INCOME FUNDS 17648009 F 63792335 0 0 X 54810254 4629124 -1872394 2756730 52053524 168421 168421 52221945 40353644 624101 624101 39729543 168421 2496495 2664916 42394459 SCHEDULE D, PART XI, LINE 2D FINANCIAL AID GRANT $(2,496,495) BOOKSTORE COST OF GOODS SOLD $ 343,262 RENTAL EXPENSES $ 124,853 SPECIAL EVENT EXPENSES $ 60,463 LOSS ON SALE OF FIXED ASSETS $ 95,523 ------------ TOTAL $(1,872,394) SCHEDULE D, PART XII, LINE 2D BOOKSTORE COST OF GOODS SOLD $ 343,262 RENTAL EXPENSES $ 124,853 SPECIAL EVENT EXPENSES $ 60,463 LOSS ON SALE OF FIXED ASSETS $ 95,523 ------------ TOTAL $ 624,101 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID GRANT $ 2,496,495 SCHEDULE D, PART V, LINE 4 THE ACADEMY'S ENDOWMENTS CONSIST OF APPROXIMATELY 45 INDIVIDUAL DONOR RESTRICTED FUNDS AND 17 BOARD DESIGNATED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ACADEMY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ENDEAVOR TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE BOARD OF TRUSTEES ADOPTED A SPENDING POLICY OF MAKING EXPENDITURES AT A RATE OF 5% OF THE AVERAGE VALUE OF ANY SUCH DONOR-RESTRICTED FUND OVER THE PRECEDING TWELVE (12) QUARTERS IN SUPPORT OF THE ACADEMY'S OPERATING AND CAPITAL BUDGETS. SCHEDULE D, PART X, LINE 2 THE ACADEMY HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE WITH RESPECT TO THE ACADEMY'S CONTINUED QUALIFICATION UNDER SECTION 501(A) AS A 501(C)(3) TAX-EXEMPT ORGANIZATION. THE ACADEMY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE ACADEMY'S PURPOSE IS SUBJECT TO TAX UNDER THE INTERNAL REVENUE CODE SECTION 511. THE ACADEMY DID NOT HAVE ANY MATERIAL UNRELATED BUSINESS INCOME TAX LIABILITY AT JUNE 30, 2014 AND 2013. true true true true true true true false false false false false false false false false false true SCHEDULE E, LINE 3 THE GREENWICH ACADEMY, INC. HAS PUBLICIZED ITS NONDISCRIMINATORY POLICY THROUGH GREENWICH LOCAL NEWSPAPERS AND MAGAZINES IN SECTIONS FOR ADVERTISEMENTS, STATING: "GREENWICH ACADEMY DOES NOT DISCRIMINATE ON THE BASIS OF AGE, SEX, RACE, COLOR, RELIGION, NATIONAL ORIGIN OR SEXUAL ORIENTATION IN THE ADMINISTRATION OF ITS EDUCATIONAL PROGRAMS, ADMISSIONS POLICIES, FINANCIAL AID POLICIES, EMPLOYMENT PRACTICES AND OTHER SCHOOL-ADMINISTERED PROGRAMS." THIS STATEMENT ALSO APPEARS ON THE INTERNET, ADMISSIONS CATALOGUES, EMPLOYMENT AND ADMISSIONS APPLICATIONS, AND STUDENT AND EMPLOYEE HANDBOOKS. Central America and the Caribbean Investments 25443429 25443429 25443429 true false true true true false METHOD OF ACCOUNTING INVESTMENTS ARE REPORTED ON SCHEDULE F, LINE 3, COLUMN (F) AT FAIR MARKET VALUE. GAPA Benefit 215800 118969 96831 32157 8226 20080 0 215800 118969 96831 32157 8226 20080 60463 36368 C/O GREENWICH ACADEMY 200 N MAPLE GREENWICH CT 06830 true FINANCIAL AID 77 2496495 N/A N/A TUITION REMISSION 77 3152171 N/A N/A SCHEDULE I, PART I IN KEEPING WITH THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS PRINCIPLES OF GOOD PRACTICE FOR FINANCIAL AID, GREENWICH ACADEMY REQUIRES THE PARENTS OF EACH FINANCIAL AID APPLICANT TO SUBMIT A DETAILED FINANCIAL STATEMENT IN WRITING ANNUALLY. EVERY FAMILY CONTRIBUTES TOWARDS THE COST OF EDUCATING THEIR DAUGHTER AT GREENWICH ACADEMY. IN MOST CASES, IT IS ASSUMED THAT BOTH PARENTS WILL HOLD FULL-TIME EMPLOYMENT TO FUND THESE EDUCATIONAL COSTS TO THE BEST OF THEIR ABILITIES BEFORE SEEKING FINANCIAL AID FROM THE SCHOOL. FULL TUITIONS ARE NOT GRANTED. THE AMOUNT AND NUMBER OF FINANCIAL AID GRANTS ARE SUBJECT TO THE AVAILABILITY OF FUNDS. COMPLETION OF THE PARENTS' FINANCIAL STATEMENT (PFS) BY DECEMBER 15 IS A PREREQUISITE FOR CONSIDERATION IN THE FIRST ROUND OF GRANT ALLOCATIONS. IN ADDITION, CURRENT FORM 1040 INCOME TAX RETURNS, INCLUDING SCHEDULES, AND W-2 FORMS MUST BE SUBMITTED. FINANCIAL AID IS GRANTED FOR ONE SCHOOL YEAR AT A TIME. NEW APPLICATION FORMS MUST BE FILED YEARLY BY DECEMBER 15. FINANCIAL AID IS RESTRICTED TO FAMILIES WHO ARE UNITED STATES CITIZENS OR PERMANENT RESIDENTS. DOCUMENTATION FROM THE STUDENT AND THE PARENTS IS REQUIRED FOR VERIFICATION OF CITIZENSHIP OR PERMANENT RESIDENCY. IF FINANCIAL CIRCUMSTANCES CHANGE, IT IS ASSUMED THAT PARENTS WILL NOTIFY THE DEAN OF FINANCIAL AID AND WILL TAKE RESPONSIBILITY FOR AN ADJUSTED AMOUNT OF THEIR DAUGHTER'S TUITION AND FEES. GREENWICH ACADEMY MONITORS THE USE OF SCHOLARSHIP FUNDS BY CREDITING THE AMOUNT OF THE SCHOLARSHIPS TO THE STUDENT'S ACCOUNT. REFUNDS ARE NOT ISSUED FOR UNUSED FUNDS. X X X true true X X X false false false false false false false true false Molly H King Head of School 513301 0 150000 0 18995 0 43000 0 102554 0 827850 0 0 0 Mark Feiner Assistant Head of School 264995 0 0 0 540 0 23556 0 54163 0 343254 0 0 0 Donna Matheson CFO 257395 0 0 0 2322 0 26063 0 9542 0 295322 0 0 0 Donna Byrnes Director of Advancement 242711 0 0 0 3564 0 24816 0 14389 0 285480 0 0 0 Rebecca Walker Head of Middle School 228938 0 0 0 490 0 18340 0 101150 0 348918 0 0 0 Thomas Sullivan Head of Upper School 209332 0 0 0 465 0 17500 0 51300 0 278597 0 0 0 Jon Ross-Wiley HEAD OF LOWER SCHOOL 159056 0 0 0 386 0 14875 0 85713 0 260030 0 0 0 Abby Katz Director of Admissions 130933 0 0 0 361 0 14046 0 88863 0 234203 0 0 0 Katherine Schulze Director of Technology 119276 0 0 0 484 0 12750 0 88793 0 221303 0 0 0 SCHEDULE J, PART I, LINE 1 HOUSING: THE GREENWICH ACADEMY PROVIDES HOUSING ALLOWANCES AS A CONDITION OF EMPLOYMENT FOR MOLLY KING, HEAD OF SCHOOL. THE FAIR VALUE OF THE HOUSING ALLOWANCE IS INCLUDED AS A NONTAXABLE BENEFIT ON SCHEDULE J, PART II, COLUMN (D). PERSONAL SERVICES: PER CONTRACT, A HOUSEKEEPER IS PROVIDED TO THE HEAD OF SCHOOL TO MAINTAIN THE HOUSE FOR SPECIAL EVENTS. THE FAIR VALUE OF THE SERVICES IS INCLUDED AS A NONTAXABLE BENEFIT ON SCHEDULE J, PART II, COLUMN (D). SCHEDULE J, PART I, LINE 7 THE HEAD OF SCHOOL, MOLLY H KING, IS ELIGIBLE AT THE END OF EACH ACADEMIC YEAR BASED UPON THE ACHIEVEMENT OF AGREED UPON GOALS FOR A BONUS TO BE DETERMINED AT THE BOARD'S DISCRETION. A State of CT Health & Edu FCLT Auth - Series E 060806186 20774ULB9 2007-03-22 30346648 Refund of Outstanding Balance false false false A 0 0 30346648 3152171 0 0 397692 960749 0 0 25836036 0 2002 false true true true A false false false false 0 false false false true A false false true false false false 0 false 0 false true A true PART II, LINE 15 OF THE PROCEEDS FROM THE SERIES E BOND ISSUED ON MARCH 22, 2007, $29,098,207 WAS AN ADVANCED REFUNDING OF SERIES B BONDS. X 61 2469611 FMV X 1 150000 FMV 1 false true false SCHEDULE M, PART I, COLUMN (B) THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART III, LINE 1 GREENWICH ACADEMY IS AN INDEPENDENT COLLEGE-PREPARATORY DAY SCHOOL FOR GIRLS AND YOUNG WOMEN THAT SEEKS TO FOSTER EXCELLENCE. ITS MISSION IS TO PROVIDE A CHALLENGING, COMPREHENSIVE EDUCATIONAL EXPERIENCE GROUNDED IN A RIGOROUS LIBERAL ARTS CURRICULUM WITHIN AN INCLUSIVE, DIVERSE COMMUNITY. THE SCHOOL'S OBJECTIVE IS TO DEVELOP GIRLS AND YOUNG WOMEN OF EXCEPTIONAL CHARACTER AND ACHIEVEMENT WHO DEMONSTRATE INDEPENDENCE, RESILIENCE, COURAGE, INTEGRITY AND COMPASSION. WE STRIVE, ABOVE ALL, TO HONOR OUR MOTTO, "TOWARD THE BUILDING OF CHARACTER." FORM 990, PART VI, LINES 6, 7A AND 7B THE MEMBERS OF THE GREENWICH ACADEMY ARE THE PARENTS AND GUARDIANS OF CHILDREN CURRENTLY ENROLLED IN THE SCHOOL. THE MEMBERS ELECT BETWEEN 21 AND 28 INDIVIDUALS TO SERVE ON THE BOARD OF TRUSTEES TO EXERCISE GENERAL OVERSIGHT OF THE MANAGEMENT OF THE BUSINESS AND PROPERTY OF THE SCHOOL. IN ADDITION, THE ALUMNAE ASSOCIATION PRESIDENT AND PARENTS ASSOCIATION PRESIDENT SERVE ON THE BOARD OF TRUSTEES. REGULAR BOARD MEETINGS ARE HELD, AS WELL AS AN ANNUAL BUSINESS MEETING THAT IS OPEN TO ALL MEMBERS AT THE OPENING OF SCHOOL EVERY YEAR. THE PURPOSE OF THIS MEETING IS TO ELECT ANY NEW MEMBERS OF THE BOARD OF TRUSTEES AND TO REVIEW THE PRIOR YEARS FINANCIAL OPERATIONS. THE FOLLOWING POWERS OF THE CORPORATION SHALL BE DEEMED NONDELEGABLE AND THE EXERCISE THEREOF IS RESERVED TO THE MEMBERS OF THE CORPORATION: (A) TO AMEND THE CERTIFICATE OF INCORPORATION. (B) TO DISSOLVE OR MERGE THE CORPORATION, BUT ONLY UPON THE AFFIRMATIVE VOTE OF TWO-THIRDS OF THE MEMBERS OF THE CORPORATION ACTING IN PERSON OR BY PROXY. FORM 990, PART VI, LINE 11 THE MEMBERS OF THE AUDIT COMMITTEE WILL RECEIVE A COPY AND REVIEW THE COMPLETE FORM 990 WITHOUT SCHEDULE B. A COPY OF THE COMPLETE AND FINAL FORM 990, INCLUDING REQUIRED SCHEDULES, WILL BE PROVIDED TO THE CHAIR OF THE BOARD, THE CHAIR OF THE AUDIT COMMITTEE, AND THE HEAD OF SCHOOL. THE CHAIR OF THE BOARD WILL REPORT ANYTHING OF SIGNIFICANCE TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, LINE 12C THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY COVERING ALL TRUSTEES, OFFICERS, AND EMPLOYEES. THE POLICY REQUIRES, AMONG OTHER THINGS, THAT NO INDIVIDUAL MAY PARTICIPATE IN DISCUSSIONS OR DECISIONS ON ANY MATTER IN WHICH HE OR SHE HAS A MATERIAL FINANCIAL INTEREST. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR BOARD DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS OR TO RESPOND TO QUESTIONS. ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO CERTIFY COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS AND TO INDICATE WHETHER THE ORGANIZATION DOES BUSINESS WITH AN ENTITY IN WHICH THEY HAVE A MATERIAL FINANCIAL INTEREST. FORM 990, PART VI, LINE 15A AND 15B IN SETTING THE COMPENSATION FOR THE HEAD OF THE SCHOOL, THE GREENWICH ACADEMY'S EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, COMPRISED OF INDEPENDENT PERSONS, PERIODICALLY CONDUCTS A REVIEW TO DETERMINE THE GOING MARKET RATE OF COMPENSATION RANGES FOR COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS BY REFERENCE TO COMPENSATION SURVEYS AND OTHER ORGANIZATIONS' FORM 990. THE GREENWICH ACADEMY SETS COMPENSATION WITHIN THE RANGE OF THE GOING MARKET RATE. NO INDIVIDUAL HAVING A CONFLICT OF INTEREST IS PERMITTED TO PARTICIPATE IN THE REVIEW OR DECISION OF COMPENSATION. THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES COMPENSATION FOR MOLLY KING, HEAD OF THE SCHOOL. THE ORGANIZATION DOCUMENTS THE COMPENSATION PROCESS AND RESULTS IN THE COMMITTEE MINUTES. IN SETTING THE COMPENSATION FOR THE OTHER OFFICERS AND KEY EMPLOYEES, THE GREENWICH ACADEMY PERIODICALLY CONDUCTS A REVIEW TO DETERMINE THE GOING MARKET RATE OF COMPENSATION RANGES FOR COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS BY REFERENCE TO COMPENSATION SURVEYS AND OTHER ORGANIZATIONS' FORM 990. THE HEAD OF THE SCHOOL SETS COMPENSATION WITHIN THE RANGE OF THE GOING MARKET RATE. NO INDIVIDUAL HAVING A CONFLICT OF INTEREST IS PERMITTED TO PARTICIPATE IN THE REVIEW OR DECISION OF COMPENSATION. THE ORGANIZATION MAINTAINS RECORDS REGARDING COMPENSATION. GREENWICH ACADEMY'S POLICIES FOR SETTING THE COMPENSATION FOR THE HEAD OF THE SCHOOL MEET ALL OF THE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION. FORM 990, PART VI, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 5 UNREALIZED GAINS: $ 4,629,124. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES ANTHONY NOTO AND CRAIG PACKER ARE BOTH EMPLOYED BY THE SAME PUBLICLY HELD CORPORATION.