2011-05-13T10:45:35-05:00 2010-06-30 KPMG LLP ONE FINANCIAL PLAZA HARTFORD CT 061032608 990 2009-07-01 060653118 THE GREENWICH ACADEMY INC GREE 2036258910 200 NORTH MAPLE AVENUE GREENWICH CT 068304799 Donna Matheson 2035524408 2011-05-12 true kpmg 8605223200 2009 2016-02-24 21:20:13Z DONNA MATHESON 200 NORTH MAPLE AVENUE GREENWICH CT 06830 49641424 false X WWW.GREENWICHACADEMY.ORG X 1924 CT THE MISSION OF THE SCHOOL IS TO PROVIDE A CHALLENGING, COMPREHENSIVE EDUCATIONAL EXPERIENCE FOR GIRLS/YOUNG WOMEN GROUNDED IN A RIGOROUS LIBERAL ARTS CURRICULUM WITHIN AN INCLUSIVE, DIVERSE COMMUNITY. 26 26 237 200 355572 -118675 8533840 8817777 26428635 27409776 -2057559 1044250 353473 653888 33258389 37925691 4182680 4775870 0 0 18424757 18184756 0 0 1134259 15565490 15101820 38172927 38062446 -4914538 -136755 177011556 175972337 71797568 69720623 105213988 106251714 SEE SCHEDULE O false false 31311190 4775870 27258714 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 221 FULL-TIME AND PART-TIME FACULTY AND STAFF. 31311190 true true false false false false false false true true true false true false true false false false true false false false true true true false false false false false true true false false false true false false false false false false false false true 183 0 237 true true true false false false false true true false false false 26 26 false false true false true true true true true false false false true true true true true true false false X MICHELLE SUMMERS 2036258985 200 NORTH MAPLE AVENUE GREENWICH CT 06830 RICHARD L CHILTON JR 15.0 X X 0 0 0 J TIMOTHY MORRIS 5.0 X X 0 0 0 MARY LEE A KIERNAN 1.0 X X 0 0 0 JAMES R MATTHEWS 1.0 X X 0 0 0 WENDELL L WILLKIE II 1.0 X X 0 0 0 BRETT BARAKETT 1.0 X 0 0 0 EMILY WILSON BURNS 1.0 X 0 0 0 SUSAN CARMICHAEL 1.0 X 0 0 0 REX R K CHUNG 1.0 X 0 0 0 BOB DEANGELO 1.0 X 0 0 0 HALEY ROCKWELL ELMLINGER 1.0 X 0 0 0 TIMOTHY M GEORGE 1.0 X 0 0 0 HEATHER DENNIS GILLESPIE 1.0 X 0 0 0 MARILYN D HART 1.0 X 0 0 0 SAMANTHA JANSSON 1.0 X 0 0 0 ANNE WALLACE JUGE 1.0 X 0 0 0 DOUGLAS R KORN 1.0 X 0 0 0 ALLISON LAKE 1.0 X 0 0 0 PAMELA MCKOIN 1.0 X 0 0 0 J WILLIAM MCMAHON 1.0 X 0 0 0 ANTHONY J NOTO 1.0 X 0 0 0 RALPH REYNOLDS 1.0 X 0 0 0 DAVID I STEMERMAN 1.0 X 0 0 0 LYNDA A WITHIAM 1.0 X 0 0 0 JEFFREY A WOLFSON 1.0 X 0 0 0 ALLISON J WOLOWITZ 1.0 X 0 0 0 MOLLY H KING 40.0 X 457174 0 134792 LAUREN E BEDELL 40.0 X 239321 0 75420 MARK FEINER 40.0 X 163944 0 95268 DONNA BYRNES 40.0 X 195512 0 24016 DIANA BESTE 40.0 X 137845 0 56413 REBECCA WALKER 40.0 X 153942 0 80577 JILL RIVERAIN 40.0 X 104038 0 81200 JEANETTE DUPLOOY 40.0 X 180382 0 16279 GERALYN STAAB 40.0 X 107831 0 76016 1739989 0 639981 9 false true false SODEXO PO BOX 360170 PITTSBURGH PA 152516170 FACILITIES CONTRACT 1204525 COMPASS GROUP USA 91337 COLLECTION DRIVE CHICAGO IL 606931337 FOOD SERVICE 919941 CEBULSKI CONSTRUCTION COMPANY INC 651 LINDLEY STREET BRIDGEPORT CT 06606 CONSTRUCTION 338686 CEH DESIGN INC 4 JACKLIN ROAD BETHEL CT 06801 GRAPHIC DESIGN PRINT 148676 CGM ACOUSTICS INC 195 ISLAND BROOK AVENUE BRIDGEPORT CT 06606 CONSTRUCTION 148675 6 195554 8622223 561853 8817777 TUITION AND FEES 611110 24569149 24569149 OTHER PROGRAMS & ACTIVITIES FEES 611110 2840627 2481019 359608 27409776 1723312 -4036 1727348 5071 5071 0 440650 125859 314791 314791 314791 10538172 11222305 -684133 -684133 -684133 68829 195554 68829 0 0 429291 298740 130551 130551 MISCELLANEOUS 900099 208546 208546 208546 37925691 27258714 355572 1493628 0 4775870 4775870 0 0 1091390 851284 196450 43656 0 13359661 10380227 2383423 596011 1286388 980508 245569 60311 1444476 1152647 241900 49929 1002841 807601 153130 42110 99711 99711 36214 36214 89948 89948 0 0 327290 294561 32729 1051341 837368 168623 45350 0 2409209 2040001 312397 56811 0 0 2729250 2438162 234110 56978 0 0 210848 187407 21571 1870 2038209 2038209 0 4285409 3856867 342833 85709 313363 307096 6267 MAINTENANCE FOR COWAN CENTER 408828 408828 EARLY CHILDHOOD/SUMMER PGMS 288385 288385 PARENTS ASSOCIATION 197377 197377 STRATEGIC PLANNING 32867 32867 CAPITAL CAMPAIGN 25514 25514 558057 234959 292084 31014 38062446 31311190 5616997 1134259 5000 5000 12314139 14611876 6383653 3054388 432058 459937 874000 1236800 99857 160646 283132 362582 113361453 29879737 85959595 83481716 34268401 41709053 34310941 28895928 2080780 1994411 177011556 175972337 3364899 2865104 11299470 10908970 56838388 55540279 93614 194007 201197 212263 71797568 69720623 X 79064746 79830395 13836763 10814733 12312479 15606586 105213988 106251714 177011556 175972337 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 60521926 7132475 2968769 3925481 66697689 76613415 6100515 -15154489 7037515 60521926 0.71157 0.28843 false false 14659378 14659378 90969398 24780282 66189116 5057148 3624726 1432422 2675529 1474729 1200800 83481716 HEDGE FUND 19524582 F INVESTMENTS IN REAL ASSETS 3873908 F PRIVATE EQUITY FUND 2320494 F MONEY MKT FD HELD BY BOND TTEE 3176944 F 28895928 0 ASSET RETIREMENT OBLIGATION 212263 212263 37925691 38062446 -136755 2332749 -1158268 1174481 1037726 36701111 2332749 -3981928 -1649179 38350290 -424599 -424599 37925691 35663385 424599 424599 35238786 2823660 2823660 38062446 RECONCILIATION OF OTHER CHANGE IN NET ASSETS SCHEDULE D, PART XI, LINE 8 LOSS ON PLEDGES : $ (1,158,268) OTHER REVENUE IN AUDITED FINANCIAL STATEMENTS BUT NOT IN FORM 990 PT VIII SCHEDULE D, PART XII, LINE 2D FINANCIAL AID GRANT : $ (2,823,660) LOSS ON PLEDGES : (1,158,268) ----------- TOTAL OTHER LINE 2D : (3,981,928) OTHER REVENUE IN FORM 990 PT VIII BUT NOT IN AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XII, LINE 4B RENTAL EXPENSES : $ (125,859) COST OF GOODS SOLD : (298,740) --------- TOTAL OTHER LINE 4B : (424,599) OTHER EXPENSES IN AUDITED FINANCIAL STATEMENTS BUT NOT IN FORM 990 PT IX SCHEDULE D, PART XIII, LINE 2D RENTAL EXPENSES : $ 125,859 COST OF GOODS SOLD : 298,740 --------- TOTAL OTHER LINE 2D : 424,599 OTHER EXPENSES IN FORM 990 PT IX BUT NOT IN AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XIII, LINE 4B FINANCIAL AID GRANT : $ 2,823,660 USE OF ENDOWMENT FUNDS 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 ATTEMPT 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 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. UNCERTAIN TAX POSITIONS SCHEDULE D, PART X, LINE 2 IN JUNE 2006, THE FINANCIAL ACCOUNTING STANDARD BOARD (FASB) ISSUED FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AN INTERPRETATION OF FASB STATEMENT NO. 109 (FIN 48). FIN 48 ADDRESSES THE ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF MORE-LIKELY-THAN-NOT FOR RECOGNITION AND DE-RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FIN 48 ALSO PROVIDES RELATED GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURES. IT WAS DETERMINED THAT THERE WAS NO IMPACT TO THE ORGANIZATION'S FINANCIAL STATEMENTS AS A RESULT OF ADOPTING OF FIN 48 IN FISCAL YEAR 2008. THERE IS NO CURRENT YEAR FIN 48 DISCLOSURE. THE ABOVE DISCLOSURE WAS FOUND IN THE FINANCIAL STATEMENTS IN THE YEAR OF ADOPTION. THERE IS NO CURRENT YEAR FIN 48 IMPACT. true true true SEE SCHEDULE O true true true true false false false false false false false false false false true Central America and the Caribbean 0 0 Investments 0 0 SPRING BENEFIT 264383 195554 68829 68829 0 264383 195554 68829 68829 68829 C/O GREENWICH ACADEMY 200 N MAPLE GREENWICH CT 06830 true FINANCIAL AID 98 2823660 N/A N/A TUITION REMISSION 67 1952210 N/A N/A MONITORING SCHEDULE I, PART I IN KEEPING WITH THE NAIS 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. X X X true true X X X false false false false false false false true false MOLLY H KING 325932 0 130000 0 1242 0 32744 0 102048 0 591966 0 0 0 LAUREN E BEDELL 238079 0 0 0 1242 0 24885 0 50535 0 314741 0 0 0 MARK FEINER 163546 0 0 0 398 0 16750 0 78518 0 259212 0 0 0 DONNA BYRNES 193249 0 0 0 2263 0 19546 0 4470 0 219528 0 0 0 DIANA BESTE 136954 0 0 0 891 0 14911 0 41502 0 194258 0 0 0 REBECCA WALKER 153611 0 0 0 331 0 14277 0 66300 0 234519 0 0 0 JILL RIVERAIN 103421 0 0 0 617 0 10972 0 70228 0 185238 0 0 0 JEANETTE DUPLOOY 177654 0 0 0 2728 0 15777 0 502 0 196661 0 0 0 GERALYN STAAB 107459 0 0 0 372 0 10277 0 65739 0 183847 0 0 0 ADDITIONAL INFORMATION SCHEDULE J, PART I, LINE 1 DISCRETIONARY SPENDING ACCOUNT: THE HEAD OF SCHOOL HAS A FUND OF $10,000 TO USE FOR THE BENEFIT OF THE SCHOOL. IT IS TYPICALLY USED FOR EMPLOYEE APPRECIATION. HOUSING: THE GREENWICH ACADEMY PROVIDES HOUSING ALLOWANCES AS A CONDITION OF EMPLOYMENT FOR THE FOLLOWING PERSONS: MOLLY KING - HEAD OF SCHOOL LAUREN BEDELL - ASSISTANT HEAD OF FINANCE, OPERATIONS & TECHNOLOGY MARK FEINER - ASSISTANT HEAD OF SCHOOL DIANA BESTE - HEAD OF UPPER SCHOOL REBECCA WALKER - HEAD OF MIDDLE SCHOOL PERSONAL SERVICES: A HOUSEKEEPER IS PROVIDED TO THE HEAD OF SCHOOL PER CONTRACT. NON-FIXED PAYMENTS 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 IN THE BOARD'S DISCRETION. STATE OF CT HEALTH & EDU FCLT AUTH - SERIES C 060806186 20774LR64 2004-06-25 11770000 ACQUISITION OF REAL PROPERTY false false STATE OF CT HEALTH & EDU FCLT AUTH - SERIES E 060806186 20774ULB9 2007-03-22 30456648 REFUND OF OUTSTANDING BALANCE false false STATE OF CT HEALTH & EDU FCLT AUTH - SERIES D 060806186 20774LV85 2004-09-16 15341856 REFUND OF OUTSTANDING BALANCE false false STATE OF CT HEALTH & EDU FCLT AUTH - SERIES B 060806186 20774LQP3 2001-05-31 32232713 REFUND OF OUTSTANDING BALANCE false false 11770000 0 0 0 268660 0 11501340 2004 false false true true 30456648 0 0 0 1358442 0 0 2002 false true true true 15341856 0 0 0 534656 0 0 1998 false true true true 32232713 0 0 0 963623 357660 28871642 2001 false false true true false false false false false true false true false false false false false false false false false false false false false false false false false false false false false false GERALYN STAAB MORTGAGE POOL X 150000 150000 false true true MOLLY KING INVESTMENT X 194007 194007 false true true 344007 various 45400 FINANCIAL AID X 30 561853 FMV false true true THIRD PARTIES SCHEDULE M, PART I, LINE 32 THE ORGANIZATION UTILIZES A STOCK BROKER TO PROCESS AND SELL DONATED SECURITIES. ORGANIZATION'S MISSION 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." AMENDMENTS TO BYLAWS FORM 990, PART VI, LINE 4 IN MAY 2010, THE GREENWICH ACADEMY BOARD APPROVED AMENDMENTS TO THE BYLAWS THAT ENLARGED THE MAXIMUM SIZE OF THE BOARD FROM 27 TO 29 VOTING MEMBERS. MEMBERS OF ORGANIZATION 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 27 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 TO REGULAR BOARD MEETINGS, AN ANNUAL BUSINESS MEETING THAT IS OPEN TO ALL MEMBERS IS HELD 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 REVIEW FORM 990, PART VI, LINE 11 ALL MEMBERS OF THE BOARD WILL RECEIVE A COPY OF THE COMPLETED FORM 990 WITHOUT SCHEDULE B, SCHEDULE J AND SCHEDULE L, AND WILL BE REVIEWED BY THE FINANCE AND AUDIT COMMITTEE. A COPY OF THE COMPLETE FINAL FORM 990, INCLUDING REQUIRED SCHEDULES, WILL BE PROVIDED TO THE CHAIR OF THE BOARD, THE CHAIR OF THE FINANCE AND AUDIT COMMITTEE, AND THE HEAD OF SCHOOL. THE CHAIR OF THE FINANCE AND AUDIT COMMITTEE WILL REPORT ANYTHING OF SIGNIFICANCE TO THE FULL BOARD PRIOR TO FILING. CONFLICT OF INTEREST POLICY 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. ALL TRUSTEES, OFFICERS AND INDIVIDUALS WHO HAVE SIGNING AUTHORITY 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. COMPENSATION 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. AVAILABLE TO THE PUBLIC 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. RACIALLY NONDISCRIMINATORY POLICY 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 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. BONDS SCHEDULE K OF THE PROCEEDS FROM SERIES E BONDS ISSUED ON MARCH 22, 2007, $29,098,206.58 WAS AN ADVANCED REFUNDING OF SERIES B BONDS. OF THE PROCEEDS FROM SERIES D BONDS ISSUED ON SEPTEMBER 16, 2004, $14,807,200.13 WAS AN ADVANCED REFUNDING OF SERIES A BONDS. SERIES C: PROCEEDS USED FOR BOND ISSUANCE COSTS 235,400 PROCEEDS USED FOR CREDIT ENHANCEMENT 33,260 TOTAL SCHEDULE K, LINE 5 268,660 SERIES E: PROCEEDS USED FOR BOND ISSUANCE COSTS 397,692 PROCEEDS USED FOR CREDIT ENHANCEMENT 960,750 TOTAL SCHEDULE K, LINE 5 1,358,442 SERIES D: PROCEEDS USED FOR BOND ISSUANCE COSTS 274,370 PROCEEDS USED FOR CREDIT ENHANCEMENT 260,286 TOTAL SCHEDULE K, LINE 5 534,656 SERIES B: PROCEEDS USED FOR BOND ISSUANCE COSTS 468,000 PROCEEDS USED FOR CREDIT ENHANCEMENT 495,623 TOTAL SCHEDULE K, LINE 5 963,623