2026-05-01T10:31:08-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2024-07-01 042103573 THE FAY SCHOOL INC FAYS 5084850100 48 MAIN STREET SOUTHBOROUGH MA 017721595 DIANE BYRNE ASS'T HEAD FOR FINANCE AND OPS 5084850100 2026-04-30 1 1 JOHN TOSCANO P00358542 8605614000 2026-04-30 2024 2025-03-06 01:10:19Z SUSANNA WATERS 48 MAIN STREET SOUTHBOROUGH MA 017721595 59610798 0 X HTTPS://WWW.FAYSCHOOL.ORG/ X 1866 MA TO NURTURE EACH CHILD'S POTENTIAL THROUGH A BROAD, BALANCED, AND CHALLENGING PROGRAM THAT ESTABLISHES THE FOUNDATION FOR A MEANINGFUL LIFE. 21 21 317 100 0 0 3776809 4723235 27820778 30325393 3333004 3679298 197382 193608 35127973 38921534 4120626 4711140 0 0 18555162 19953104 0 0 861431 13038849 13888305 35714637 38552549 -586664 368985 131497899 133013098 66043525 63959000 65454374 69054098 X TO NURTURE EACH CHILD'S POTENTIAL THROUGH A BROAD, BALANCED, AND CHALLENGING PROGRAM THAT ESTABLISHES THE FOUNDATION FOR A MEANINGFUL LIFE. 0 0 30206413 4692855 28611868 INSTRUCTION AND EDUCATION: FORMAL EDUCATION OF 499 STUDENTS' GRADES K-9 IN CO-ED DAY & BOARDING SETTING. AS A DAY AND BOARDING SCHOOL FOR STUDENTS IN KINDERGARTEN THROUGH GRADE NINE AND AN EARLY LEARNING CENTER FROM AGES 2.9 TO 5, FAY SCHOOL IS A COMMUNITY BUILT ON FIVE CORE VALUES: ACADEMIC EXCELLENCE; HONORABLE CONDUCT; DEDICATED SERVICE; EARNEST EFFORT; AND WELLNESS OF MIND, BODY, AND SPIRIT. WHILE THE SCHOOL HAS GROWN AND EVOLVED SINCE ITS FOUNDING IN 1866, OUR CENTRAL PURPOSE HAS REMAINED CONSTANT. FAY PROVIDES A BROAD AND CHALLENGING PROGRAM THAT EMPOWERS STUDENTS TO DISCOVER THEIR TALENTS, DEVELOP THEIR INTELLECTUAL ABILITIES, ESTABLISH ESSENTIAL ACADEMIC SKILLS AND KNOWLEDGE, AND DEFINE THEIR MORAL CHARACTER. EARNEST EFFORT HAS BEEN EMPHASIZED THROUGH THE SCHOOL'S HISTORY, AS ENSHRINED IN OUR MOTTO, POTERIS MODO VELIS ("YOU CAN IF YOU WILL"). FAY IS DEDICATED TO EDUCATING CHILDREN TO THEIR FULL POTENTIAL IN THE EARLY CHILDHOOD, ELEMENTARY, AND MIDDLE SCHOOL YEARS BY HELPING THEM RECOGNIZE AND DEVELOP THEIR INTELLECTUAL AESTHETIC, PHYSICAL, SOCIAL, AND EMOTIONAL CAPABILITIES. WE TEACH OUR STUDENTS ESSENTIAL, ENDURING SKILLS: TO READ WELL, TO WRITE AND SPEAK CLEARLY AND COHERENTLY, TO REASON SOUNDLY, TO QUESTION THOUGHTFULLY, AND TO STUDY EFFECTIVELY. THESE SKILLS SUPPORT THEIR ABILITY TO LEAD, TO COLLABORATE, TO CREATE, AND TO SOLVE PROBLEMS.LOVE OF LEARNING BRINGS US TOGETHER, AND WE ENCOURAGE OUR STUDENTS TO BE CURIOUS, CREATIVE, AND OPEN TO NEW IDEAS. FAY'S SAFE AND SUPPORTIVE ENVIRONMENT ALLOWS STUDENTS TO TAKE RISKS AND ENCOURAGES THEM TO LEARN FROM MISTAKES, WITHIN THE CONTEXT OF HIGH EXPECTATIONS REGARDING ACADEMIC PERFORMANCE AND ETHICAL CONDUCT. OUR TEACHERS KNOW THEIR STUDENTS AS INDIVIDUALS AND HELP THEM COME TO KNOW THEMSELVES. AS FAY STUDENTS GROW, THEY DEVELOP AN UNDERSTANDING AN ACCEPTANCE OF THEIR OWN CHALLENGES AND STRENGTHS AS LEARNERS.HONESTY, RESPECT, RESPONSIBILITY, EMPATHY, AND KINDNESS INFORM OUR CONDUCT. THE DEVELOPMENT OF MANNERS, CIVILITY, AND INTEGRITY ARE HALLMARKS OF OUR SCHOOL. AT EVERY GRADE LEVEL, WE EMPHASIZE AN OBLIGATION TO HELP ENSURE THE WELL-BEING OF OTHERS. AS A HOME FOR BOARDING STUDENTS FROM MANY CULTURES AND BACKGROUND THROUGHOUT THE UNITED STATES AND AROUND THE WORLD, FAY IS AN INCLUSIVE COMMUNITY THAT RECOGNIZES, RESPECTS, AND CELEBRATES THE FULL RANGE OF HUMAN DIVERSITY. IN ALL OF THESE WAYS, FAY PREPARES OUR STUDENTS TO LEAD PRODUCTIVE AND FULFILLING LIVES THAT MAKE A POSITIVE DIFFERENCE IN THE WORLD. 1189906 18285 1813378 SUMMER PROGRAMS INCLUDE SUMMER DAY CAMP, AN INTERNATIONAL STUDENT BOARDING ENGLISH LANGUAGE PROGRAM. SUMMER CAMP IS A DYNAMIC, HANDS-ON PROGRAM, FOR CHILDREN AGES THREE THROUGH FIFTEEN. OUR PROGRAM PROVIDES CAMPERS AND STUDENTS WITH AN ENGAGING AND NURTURING ATMOSPHERE THAT ENCOURAGES EXPLORATION, CREATIVITY, AND LASTING CONNECTIONS AMONG CHILDREN AND ADULTS.THE INTERNATIONAL STUDENT BOARDING ENGLISH LANGUAGE PROGRAM MAKES IT POSSIBLE FOR INTERNATIONAL STUDENTS AGED 10-15 TO PARTICIPATE IN THE FAY EXPERIENCE REGARDLESS OF THEIR LEVEL OF ENGLISH PROFICIENCY. IT PROVIDES A MEANINGFUL INTRODUCTION TO FAY FOR STUDENTS ENROLLING FULL TIME IN THE UPCOMING ACADEMIC YEAR AS WELL AS A STAND-ALONE PROGRAM FOR INTERNATIONAL STUDENTS WHO WISH TO FOCUS ON DEVELOPING THEIR ENGLISH SKILLS DURING THE SUMMER MONTHS, WITH THE APPROPRIATE LEVEL OF CHALLENGE AND SUPPORT. 31396319 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 1 156 0 1 317 1 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X X FAY SCHOOL BUSINESS OFFICE 5084850100 48 MAIN STREET SOUTHBOROUGH MA 01772 SUSANNA WATERS HEAD OF SCHOOL 37.50 X 251119 0 97931 DIANE BYRNE ASST. HEAD OF SCHOOL FOR OPERATIONS 37.50 X 334053 0 63440 ROBERT GUSTAVSON FORMER HEAD OF SCHOOL 37.50 X 768661 0 95857 ELIZABETH WHITNEY ASSOCIATE HEAD OF SCHOOL 37.50 X 309029 0 113436 ROBERT CRAWFORD DIRECTOR OF ADVANCEMENT 37.50 X 244004 0 103671 JUDI ANN O'BRIEN ASSTISTANT HEAD OF SCHOOL FOR THE EDUCATIONAL PROG 37.50 X 265343 0 31112 JOHN SUMNER HEAD OF UPPER SCHOOL 37.50 X 173730 0 86511 PETER FEAREY DIRECTOR OF INNOVATION 37.50 X 231906 0 16810 ANN LAQUERRE PRESIDENT 2.00 X X 0 0 0 ALEX CURTIS VICE PRESIDENT 2.00 X X 0 0 0 LAURIE VANCE TREASURER 2.00 X X 0 0 0 SARA R MARS SECRETARY 2.00 X X 0 0 0 PETER BAUER TRUSTEE 2.00 X 0 0 0 MELISSA BOIS TRUSTEE 2.00 X 0 0 0 ELEANOR BROWN TRUSTEE 2.00 X 0 0 0 BRENDON GIBLIN TRUSTEE 2.00 X 0 0 0 HEATHER R GIROLAMO TRUSTEE 2.00 X 0 0 0 DAVID HARRIS TRUSTEE 2.00 X 0 0 0 JAE HOON KIM TRUSTEE 2.00 X 0 0 0 HELEN LIN TRUSTEE 2.00 X 0 0 0 DOUG LOUD TRUSTEE 2.00 X 0 0 0 SEAN LU TRUSTEE 2.00 X 0 0 0 JESSICA MOORAJ TRUSTEE 2.00 X 0 0 0 WILLIAM PICARDI TRUSTEE 2.00 X 0 0 0 JOHN SIMON TRUSTEE 2.00 X 0 0 0 JEAN SUNG TRUSTEE 2.00 X 0 0 0 ARTHUR TING TRUSTEE 2.00 X 0 0 0 FAITH WALLACE-GADSDEN TRUSTEE 2.00 X 0 0 0 GILBERT ZAWAIRA TRUSTEE 2.00 X 0 0 0 2577845 0 608768 25 1 1 0 SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 DINING 1762201 UNICLEAN SERVICE CORPORATION - AKA HOGLA PO BOX 497 REVERE MA 02151 JANITORIAL 608039 ECK MACNEELY ARCHITECTS INC 580 HARRISON AVENUE SUITE 3N BOSTON MA 02118 ARCHITECTURE 392422 APPLIED ROOFING SYSTEMS INC PO BOX 1248 WEBSTER MA 01570 CONSTRUCTION 391042 GOVCONNECTION INC - DBA CONNECTION PO BOX 536477 PITTSBURGH PA 152535906 IT EQUIPMENT 359620 19 96719 4626516 611319 4723235 TUITION AND FEES 611710 28201803 28201803 SUMMER PROGRAMS 611710 1813378 1813378 STUDENT SERVICE INCOME 611710 310212 310212 30325393 1180537 1180537 157646 0 157646 157646 157646 23006212 20507445 6 2498767 -6 2498761 2498761 10268 96719 81359 -71091 -71091 7200 0 7200 7200 154983 100454 54529 54529 MISCELLANEOUS INCOME 900099 45324 45324 45324 38921534 30425246 0 3773053 20000 20000 4691140 4691140 1012743 253186 759557 205529 129126 15309 61094 13547094 11246564 1948605 351925 940305 789926 116640 33739 3194794 2293116 710697 190981 1052639 859818 160654 32167 166190 166190 52457 52457 108172 108172 834622 796058 16028 22536 343393 44406 289749 9238 20485 9288 272 10925 808094 787183 17257 3654 241208 67688 77463 96057 793646 793646 3344302 3240275 101054 2973 323045 306052 16845 148 CONTRACTED SERVICES 2902717 2872276 25086 5355 OTHER DEPARTMENTAL EXPE 2440886 1374437 1063414 3035 EQUIPMENT, SUPPLIES AND 694163 644083 45009 5071 DUES AND SUBSCRIPTIONS 645919 81553 531864 32502 169006 96498 72477 31 38552549 31396319 6294799 861431 28434 28614 6210674 4984431 564682 1322204 7755106 7945465 172454 175608 1223436 1690789 120910234 63473118 58050993 57437116 45781870 46466014 11307768 12647030 402482 315827 131497899 133013098 4555785 4592785 22938219 23111962 38286557 35873136 262964 381117 66043525 63959000 X 38696110 39294716 26758264 29759382 65454374 69054098 131497899 133013098 X 368985 3440335 -209596 X 0 1 X 1 0 X 5380351 3703264 2631300 3776809 4723235 20214959 5380351 3703264 2631300 3776809 4723235 20214959 1019894 19195065 915203 845276 1142355 1331043 1338183 5572060 2445 7131 4388 13964 139825 17468 157293 25958276 135250987 0.73950 0.70710 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING AND GAMING PROCEEDS - 2022 AMOUNT: $ 139,825. 2024 AMOUNT: $ 17,468. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 33750077 80823 4263020 362921 1917066 35813933 30903404 1227384 3340302 369855 1351158 33750077 29251008 62771 3001426 352566 1059235 30903404 34492206 95595 -4150104 290507 896182 29251008 26932540 721810 9038642 331305 1869481 34492206 0.20700 0.79300 0.00000 0 0 3181707 3181707 87305135 47567999 39737136 11496984 7134306 4362678 18926408 8770813 10155595 57437116 REAL ASSETS 8082160 F DOMESTIC EQUITY 2649722 F INTERNATIONAL EQUITY 1915148 C 12647030 OTHER LIABILITIES 65290 LEASE LIABILITY 315827 381117 X 37434320 3440335 -4900736 -1460401 38894721 108172 -81359 26813 38921534 33834596 0 33834596 108172 4609781 4717953 38552549 PART III, LINE 1A: SINCE THE LATE 1900'S THE SCHOOL HAS ACQUIRED A COMPLETE SET OF PRESIDENTIAL AUTOGRAPHS AND DISPLAYS THEM FOR THE COMMUNITY. PART V, LINE 4: THE ENDOWMENT SUPPORTS THE EDUCATIONAL MISSION OF THE SCHOOL BY PROVIDING SUPPORT FOR FINANCIAL AID FOR STUDENTS, FACULTY COMPENSATION AND CONTINUING EDUCATION, SCHOOL PROGRAMS AND FACILITIES AS WELL AS GENERAL SUPPORT FOR SCHOOL OPERATIONS. PART X, LINE 2: THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2025. THE SCHOOL'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2022 ARE CLOSED, AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE SCHOOL HAD UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENTS OF FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -4,691,140. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -209,596. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -81,359. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,691,140. FUNDRAISING EVENT EXPENSE -81,359. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S RACIALLY NONDISCRIMINATORY POLICY IS PUBLICIZED ON THE HOMEPAGE OF ITS WEBSITE. ADDITIONALLY, THE SCHOOL IS INCLUDED IN THE GROUP LISTING OF INDEPENDENT SCHOOLS WHOSE RACIALLY NONDISCRIMINATORY POLICY IS DISCLOSED IN THE BOSTON GLOBE EACH FALL. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES EDUCATIONAL 140665 0 0 0 0 0 0 140665 0 140665 0 0 0 0 0 0 PART I, LINE 2: FAY HELD A 10-DAY EDUCATIONAL CAMP FOR 21 STUDENTS (AGES 9-14). THE PROGRAM, LED BY SCHOOL FACULTY AND RESIDENTIAL STAFF, OFFERED A BLEND OF ACADEMIC COURSEWORK AND ENRICHMENT ACTIVITIES FOCUSED ON INTERNATIONAL STUDENT ENGAGEMENT. FAY ALSO COLLABORATED WITH A LOCAL ACADEMY IN TAIPEI TO DELIVER A WEEK-LONG ACADEMIC PROGRAM IN SCIENCE, MATH AND ENGLISH FOR 51 STUDENTS. THE PROGRAM CONCLUDED WITH A WEEK-LONG RECIPROCAL VISIT TO THE UNITED STATES FOR 25 STUDENTS, INVOLVING RESIDENTIAL LIFE AND IMMERSIVE CLASSROOM INSTRUCTION. PA AUCTION AND FUNDRAISER 106987 96719 10268 6587 17522 43379 13871 106987 96719 10268 6587 17522 43379 13871 81359 -71091 1 TOWN OF SOUTHBOROUGH GOVERNMENT ENTITY 20000 0 N/A N/A PURCHASE OF A POLICE CRUISER 1 0 FINANCIAL AID 157 4672855 FMV TUITION ASSISTANCE FINANCIAL AID FOR SUMMER CAMP 24 18285 FMV TUITION ASSISTANCE PART I, LINE 2: FAY SCHOOL OFFERS FINANCIAL AID OR SCHOLARSHIP ASSISTANCE TO FAMILIES WITH A DEMONSTRATED FINANCIAL NEED. TO APPLY, PARENTS MUST COMPLETE THE FINANCIAL AID APPLICATION ONLINE AND SUBMIT THAT TO CLARITY FINANCIAL INC. X X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 1 1 SUSANNA WATERS HEAD OF SCHOOL 181649 0 0 0 69470 0 29500 0 68431 0 349050 0 0 0 DIANE BYRNE ASST. HEAD OF SCHOOL FOR OPERATIONS 309865 0 0 0 24188 0 25719 0 37721 0 397493 0 0 0 ROBERT GUSTAVSON FORMER HEAD OF SCHOOL 316935 0 0 0 451726 0 65262 0 30595 0 864518 0 0 0 ELIZABETH WHITNEY ASSOCIATE HEAD OF SCHOOL 285615 0 0 0 23414 0 24480 0 88956 0 422465 0 0 0 ROBERT CRAWFORD DIRECTOR OF ADVANCEMENT 220230 0 0 0 23774 0 19105 0 84566 0 347675 0 0 0 JUDI ANN O'BRIEN ASSTISTANT HEAD OF SCHOOL FOR THE ED 242152 0 0 0 23191 0 19584 0 11528 0 296455 0 0 0 JOHN SUMNER HEAD OF UPPER SCHOOL 157088 0 0 0 16642 0 13448 0 73063 0 260241 0 0 0 PETER FEAREY DIRECTOR OF INNOVATION 210120 0 0 0 21786 0 16810 0 0 0 248716 0 0 0 PART I, LINE 1A THERE MAY BE CERTAIN SERVICES PAID FOR ON BEHALF OF THE HEAD OF SCHOOL. THE HEAD OF SCHOOL IS ALSO PROVIDED WITH A VEHICLE. THESE ITEMS ARE GROSSED-UP AND REPORTED AS TAXABLE COMPENSATION TO THE HEAD OF SCHOOL. PART I, LINE 1B THE HEAD OF SCHOOL HAS A DISCRETIONARY SPENDING ALLOWANCE TO BE USED FOR SCHOOL EXPENSES NOT INDENTIFIED IN THE BUDGET PROCESS. PART I, LINE 3 AS A CONDITION OF EMPLOYMENT AND IN ORDER TO PERFORM THEIR DUTIES THE HEAD OF SCHOOL IS REQUIRED TO LIVE ON CAMPUS IN A SCHOOL OWNED PROPERTY. THIS BUILDING IS CLEANED AND MAINTAINED BY SCHOOL PERSONNEL AND OUTSIDE CONTRACTORS. INCLUDED IN SUSANNA WATERS AND ROBERT GUSTAVSON'S COLUMN D IS AN AMOUNT FOR 5% OF THE VALUE OF THE PROPERTY INCLUDING UTILITIES TOTALING $30,276 EACH. PART I, LINE 4B THE SCHOOL PROVIDES THE HEAD OF SCHOOL WITH A DEFERRED COMPENSATION PLAN UNDER IRC SECTION 457(F), WHICH IS SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. CONTRIBUTIONS TO THE PLAN DURING CALENDAR YEAR 2024 WERE $14,500, AND ARE INCLUDED IN PART II, COLUMN (C). DURING HIS EMPLOYMENT, THE SCHOOL PROVIDED THE FORMER HEAD OF SCHOOL WITH A DEFERRED COMPENSATION PLAN UNDER IRC SECTION 457(F), WHICH WAS SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. CONTRIBUTIONS TO THE PLAN DURING CALENDAR YEAR 2024 WERE $52,260, AND ARE INCLUDED IN PART II, COLUMN (C). PART I, LINE 8 THE HEAD OF SCHOOL IS IN THEIR INITIAL CONTRACT WITH THE SCHOOL EFFECTIVE AS OF JULY 1, 2024 FOR AN INITIAL 3 YEAR TERM. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2021-07-30 45025000 REFUNDING OF PRIOR BOND ISSUE, CONSTRUCTION & ISSUE COSTS, SWAP SETTLEMENT 0 0 0 A 7009157 45025000 32464897 250060 5000000 7310043 2021 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 1 0 0 0 0 A 1 MARY BYRNE DAUGHTER OF ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS 34405 COMPENSATION FOR RESIDENTIAL LIFE RESPONSIBILITIES. 0 LAURA BYRNE DAUGHTER OF ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS 15309 COMPENSATION AS SCHOOL LIAISON AND ADMINISTRATIVE SERVICES 0 WILLIAM WATERS SPOUSE OF HOS 61094 COMPENSATION AS ADVANCEMENT ENGAGEMENT OFFICER 0 BRENDON GIBLIN TRUSTEE 104031 PROVIDED CONSTRUCTION AND DECORATION SERVICES 0 ELIZABETH W GUSTAVSON DAUGHTER OF FORMER HEAD OF SCHOOL 94721 COMPENSATION AS GRADE 2 TEACHER 0 X 18 611319 FMV 0 0 1 0 PART I, COLUMN (B): THE AMOUNT REPORTED IN PART I COLUMN (B) REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL EXERCISE ALL OF THE POWERS OF THE BOARD OF TRUSTEES BETWEEN MEETINGS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FULL BOARD OF TRUSTEES RECEIVES THE ENTIRE FORM 990 WITH THE EXCEPTION OF SCHEDULE B WHICH IS NOT REVIEWED BY THE BOARD DUE TO ITS SENSITIVE NATURE. SCHEDULE B OF FORM 990 IS REVIEWED BY THE HEAD OF SCHOOL AND THE ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS. FORM 990, PART VI, SECTION B, LINE 12C AT OR BEFORE THE FIRST BOARD MEETING EACH YEAR (OCT/NOV) EACH TRUSTEE COMPLETES A CONFLICT OF INTEREST STATEMENT THAT IS HELD IN THE HEAD OF THE SCHOOL'S OFFICE FOR THE YEAR. CONFLICTS ARE MONITORED BY THE ASSISTANT TO THE HEAD OF SCHOOL AND IN THE EVENT A CONFLICT EXISTS, THE CONFLICT WILL BE BROUGHT TO THE ATTENTION OF THE BOARD OF TRUSTEES FOR FURTHER DISCUSSION AND CONSIDERATION. FAY SCHOOL CURRENTLY FOLLOWS NAIS GUIDELINES FOR ITS WHISTLE BLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES AND WILL INCLUDE THEM IN THE EMPLOYEE HANDBOOK. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES DETERMINES THE COMPENSATION FOR THE HEAD OF SCHOOL. THE HEAD OF SCHOOL HAS A WRITTEN CONTRACT. THE INFORMATION INCLUDED FOR THIS COMPENSATION REVIEW INCLUDES A REBUTTABLE PRESUMPTION CHECKLIST AMONG OTHER PROCEDURES. ALL OTHER PERSONNEL SALARIES ARE DETERMINED BY THE HEAD OF SCHOOL WITH INPUT FROM THE ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S TAX FILINGS ARE AVAILABLE ONLINE FOR VIEWING AT WWW.GUIDESTAR.ORG, A WEBSITE USED TO RATE NON-PROFITS FOR POTENTIAL DONORS. THE TAX FILINGS ARE ALSO AVAILABLE AT THE MASSACHUSETTS ATTORNEY GENERAL'S DIVISION FOR PUBLIC CHARITIES WEBSITE AND AT THE SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST AND FOR REVIEW IN THE BUSINESS OFFICE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -209,596. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.