St Paul'S School

“The school's governing body consisted of trustees who have the right to participate in the school's governance. All trustees have the same voting rights. The full board of trustees must vote on the removal of trustees or the hiring or firing of the rector or dissolution of the school. The full board approves significant decisions of the governing body.”

“Certain designees of the alumni and parents associations serve as members of the board of trustees of st. Paul's school and have the same authority as other elected members.”

“The form 990 was prepared by the school's controller and reviewed by the chief financial officer as well as the school's outside tax firm prior to being presented to the audit and risk committee. An audit and risk committee meeting was held prior to the filing of the form 990. At this time, the form 990 was reviewed in detail and approved for submission to the internal revenue service. Prior to the final form being electronically submitted to the internal revenue service a copy was provided to all the members of the board of trustees.”

“St. Paul's school maintains a written conflict of interest policy that is included in the school's policies and procedures manual which is updated and disseminated to all employees and trustees annually and is included on the school's intranet. At the start of each fiscal year, the chief financial officer of the school requires that each trustee, officer, and key employee completes a conflict of interest disclosure form. Any conflicts identified by the conflict of interest disclosure form are summarized in a report to the president of the board of trustees and the chair of the trustees & governance committee. The board of trustees is notified of any conflicts and action, if necessary, is taken by the trustees. At the conclusion of the fiscal year, prior to the submission of the form 990, a governing body member annual questionnaire is provided to each trustee, officer and/or key employee. This questionnaire requires the disclosure of any conflicts of interest that may have existed during the prior fiscal year.”

“The compensation committee, consisting solely of outside directors, is responsible for administering the compensation of the rector and any other officers and key employees. The committee meets approximately three times a year to: 1. Set goals for the rector. 2. Determine what, if any, outside resources are necessary to set appropriate compensation in that year. 3. Hire any necessary outside consultants. 4. Review and set compensation by a review of comparable outside data including 990 and peer school information. 5. Review the rector's performance. 6. Amend, if necessary, the rector's employment contract. 7. Set compensation for rector, other officers and key employees. 8. Review and approve the minutes of the previous compensation committee meeting. The compensation committee reports on its meetings to the full board of trustees and the actions of the compensation committee are ratified at the next meeting of the full board of trustees.”

“St. Paul's school makes available to the public via its website the following governing documents: - by-laws - internal revenue service tax determination letter - filed form 990 for the three most recent fiscal years - board of trustee committee charters in addition, st. Paul's school makes the audited financial statements available to the school community (employees, parents and alumni) via our secured password protected website.”

“St. Paul's has filed form 8868, application for extension of time to file an exempt organization return, to request an extension for form 990-t for the tax year ending june 30, 2016.”

“Unrealized loss on interest rate swap -2,989,496. Actuarial adjustment -169,459.”