Nashoba Learning Group Inc.

“Steven vibert, the spouse of the executive director,is employed by the school as the it director. Total salary paid to steven and nontaxable benefits consisting of his portion of family health insurance plan premiums and life/disability insurance paid on his behalf during fiscal year 2015 was $127,308.”

“The form 990 is prepared by the external auditors and reviewed by management. Revisions, corrections, etc. Are made as necessary. Once all are satisfied with the form, it is finalized, reviewed, and approved by the audit committee of the board. No review was or will be conducted by the full board.”

“Each year the organization's conflict of interest policy is provided to all officers, directors and key employees. These people are asked to review the policy and sign a statement indicating that they understand the policy, have reported all potential conflicts during the past year in accordance with the policy and will report all potential conflicts during the coming year. All potential conflicts are evaluated by the board to determine if a conflict actually exists. In those instances where the potential transaction is a conflict the board examines the transaction and a vote is taken (with those involved recusing themselves) as to whether the organization will enter into the transaction.”

“Annually the board conducts a performance review and evaluation of the senior management team which includes the executive director, president, and information technology director. The review also establishes each individual's compensation for the following year. This process involves the evaluation of each individual and a review of compensation of comparable positions obtained from the form 990 of similar organizations and other market data obtained. The process is overseen and administered by the compensation committee of the board for presentation to, and approval by, the members of the board excluding those whose compensation is being considered and any other related parties on the board. The board's deliberation and decision is noted in the minutes of the meeting.”

“All of the organization's governing documents and policies and procedures are submitted to the massachusetts department of elementary and secondary education and are available to view there. All financial information is submitted annually through the uniform financial reporting system on the massachusetts operational services division website and are able to be accessed publicly online.”

“Change in fair value of interest rate swap 64,100.”