Buckingham Browne and Nichols School

“The audit committee reviews the full form 990 and then recommends approval to the full board of trustees. The full board of trustees has access to the complete form 990 with the exception of a redacted version of schedule b. The names of those donors who wish to remain anonymous have been redacted from schedule b.”

“All officers, directors and key employees are required to sign a conflict of interest form annually. The forms are reviewed by the governance committee of the board of trustees and they determine if a potential conflict exists. If a potential conflict is found to exist, that individual is barred from participating in any deliberations or decisions regarding the conflicting matter. Review of the conflict of interest policy is done annually.”

“Reasonable compensation: it is the policy of buckingham browne & nichols school ("the school") to pay no more than reasonable compensation for personal services rendered to the school by officers and employees. The trustees of the school shall not receive compensation for fulfilling their duties as trustees, although trustees may be reimbursed for actual out-of-pocket expenses which they incur in order to fulfill thier duties as trustees. Expenses of spouses will not be reimbursed by the school unless the expenses are necessary to achieve a school purpose. Approval of compensation: the board of trustees must approve in advance the amount of all compensation for the head of the school. Before approving the compensation of the head of school, the board shall determine that the total compensation to be provided by the school to the head of school is reasonable in amount in light of the position, responsibility and qualification of the head of school for the position held, including the result of an evaluation of the head of school's prior performance for the school, if applicable. In making the determination, the board shall consider total compensation to include the salary and the value of all benefits provided by the school to the individual in payment for services. At the time of the discussion and decision concerning the head of school's compensation, the head of school should not be present at the meeting. The board shall obtain and consider appropriate data concerning comparable compensation paid to similar head of schools in like circumstances. The board shall set forth the basis for its decisions with respect to compensation in the minutes of the meeting at which the decisions are made, including the conclusions of the evaluation and the basis for determining that the individual's compensation was reasonable in light of the evaluation and the comparability data. Compensation for other key employees is determined by the head of school.”

“The organization makes its governing documents, conflict of interest policy, form 990, and financial statements available to the public upon request for the same period of disclosure as set forth in section 6104(d). In addition, the organization's form 990 without schedule b is available via guidestar and the massachusetts attorney general's website.”

“Bb&n, a coeducational day school in cambridge, massachusetts, was established in 1974 by the merger of two independent schools, the buckingham school and the browne & nichols school, founded respectively in 1889 and 1883. Located on multiple campuses, we work as one school in pursuit of excellence. We celebrate the diversity of our community which enriches our daily experience. At bb&n, we foster intellectual curiosity, critical thinking and a deep concern and respect for others. Our educational program, coordinated from beginners through grade twelve, provides a rigorous core curriculum, taught in flexible and innovative ways. Students acquire the skills and discipline necessary for academic accomplishment and learn to reflect, take risks and to discover. The curriculum is strengthened by our commitment to a comprehensive program in the arts and athletics. In all of our experiences, both those within the school and those which use our urban location, we encourage self-reliance, knowledge of oneself, and a capacity for leadership. The connections between our faculty and students are at the heart of our school. We ask members of our community to be engaged learners, compassionate individuals, and productive citizens who live our school's motto: "honor, scholarship, and kindness."”

“Amortization of annuity discounts -21,450.”