Walnut Hill School for the Arts

“The form 990 is reviewed by the cfo and the head of school and then presented to the audit committee for review and approval. The form 990, with schedule b redacted is then provided to the board for ratification.”

“All trustees and officers are required to complete an annual disclosure statement that indicates that they have read, understood and agree to the school's conflict of interest policy. Further, the trustees are required to disclose any potential conflicts (as defined in the policy) and/or notify the head of school if any additional issues arise throughout the year. The policy is enforced and monitored by the head of school and/or the board of trustees. Trustees who fail to complete the annual disclosure form are asked to verbally confirm the information in the annual disclosure statement and also discuss any potential conflicts at the next board meeting.”

“The board of trustees will determine compensation for the head of school and other officers using the following criteria: 1. The transaction is approved by an authorized body of the organization, which is composed of individuals who do not have a conflict of interest concerning the transaction. 2. Prior to making its determination, the authorized body obtained and relied upon appropriate data as to comparability. 3. The authorized body adequately documents the basis for determination concurrently with making that determination. The documentation will include: -the terms of the approved transaction and the date approved; -the members of the authorized body who were present during debate on the transaction that was approved and those who voted on it; -the comparability data obtained and relied upon by the authorized body and how the data was obtained; -any actions by a member of the authorized body having a conflict of interest; and -documentation of the basis for the determination before the later of the next meeting of the authorized body or 60 days after the final actions of the authorized body are taken and approval of records as reasonable, accurate and complete within a reasonable time thereafter. This process was last utilized in the fall of 2021 to determine the compensation for the new head of school who began his tenure july 1, 2022. It resulted in a three- year contract through july 2025. Each year, the compensation committee, a sub-committee of the governance committee, reviews the head of school's compensation per the contract. The head of school determines the compensation of all other key employees based on a review of pay data for similar positions at similar organizations. This process was last completed in 2023.”

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

“Dba: walnut hill school for the arts dba: walnut hill community academy”

“Change in value of split interest agreements 104,406.”