Brewster Academy

“Brewster Academy made updates to their by-laws, January 2017. Key changes as follows: - Removed parents association president as standing member of the board - Added president of alumni association as ex officio member to make our bylaws consistent with our charter - Revised process for trustee resignations - Revised process for removing a trustee - Revised chair's role to give ability to appoint committee chairs, members, and create ad hoc committees/task forces - Revised definition of role of Treasurer to better clarify role of Treasurer and BA's Chief Financial Officer - Updated dollar threshold by which board approval is needed ($200,000) - Added definition to Board's role in Head of School evaluation and contract renewal - Added Board ratification for Assistant Head of School and Chief Financial Officer - Added process by which business may be added to special meetings of the board - Added process for notification to board re: meetings and committee meetings - Added Risk as a separate standing committee of the Board - Other general edits for clarity and consistency”

“Commonwealth of MA has the right to appoint members of the Brewster Trust, who are members of the Board of Trustees under the Charter.”

“The Audit Committee reviews, approves and recommends acceptance of the Form 990 by the Finance Committee. After the review and recommendation to accept the Form 990 by the Audit Committee, the Finance Committee reviews and recommends acceptance of the completed Form 990 to the Board, along with the Audit Committee. Then it is sent to all other board members and the Head of School for their review and approval.”

“All present Trustees and each new Trustee, prior to taking his/her position on the Board shall submit in writing to the Chairman of the Board a list of all businesses or other organizations of which s/he is an officer, director, trustee, member, owner, shareholder, employee or agent, with which Brewster Academy has, or might reasonably in the future enter into, a relationship or transaction in which the Trustee would have conflicting interests. This disclosure shall be provided by each Board Member to the Chairman of the Board on an annual basis. The Chairman of the Board shall become familiar with the statements of all trustees in order to guide appropriate conduct should a conflict arise. Voting - At such time as any matter comes before the Board in such a way as to give rise to a conflict of interest, the affected Trustee shall make known the potential conflict, whether disclosed by his/her written statement or not, and after answering any questions that might be asked of him/her, shall withdraw from the Board meeting for so long as the matter shall continue under discussion. The Conflict of Interest Policy must be signed individually by members of the Board of Trustees, and there is an annual review of the conflict of interest statements.”

“The Board of Trustees retained an employment consultant to determine the salary for the Head of School.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Section 1.263(a)-3(n) Election: Brewster Academy 80 Academy Drive, Wolfeboro, NH 03894 EIN 02-0223317 Brewster Academy is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n).”

“Change in Value of Charitable Gift Annuity 34,333. Change in Value of Beneficial Interest in Perpetual Trust 344,398. Change in Pledge Discounting and Allowance for Pledges -31,000.”