Meadowbrook School of Weston Incorporated

“The business office receives from its independent accounting firm an annual questionnaire soliciting information for the preparation of form 990. The questionnaire is completed by the controller and returned to the accounting firm, which prepares a draft. The school's director of finance and operations, board treasurer, president, and chairs of the finance and audit committees review the draft for accuracy, making any necessary adjustments. When all revisions have been incorporated, a public disclosure copy of the form 990 is made available to the full board and the complete form 990 is filed with the irs.”

“Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a) has received a copy of the conflicts of interest policy, b) has read and understands the policy, c) has agreed to comply with the policy, and d) understands the school is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. The policy requires that any potential conflict of interest must be disclosed by the signatory to the full board annually, with updates in the event of changed circumstances. The head of school, president of the board and chairperson of the committee on trustees are individually and jointly charged with administering the policy. Any trustee having a personal interest in a given transaction or other relationship shall not participate in the discussion of that transaction or relationship, except to respond to questions from or provide information requested by the trustees, shall specifically abstain from voting on the transaction or relationship, and shall not be counted toward a quorum for purposes of the vote.”

“On an annual basis, every employee prepares goals which are used to evaluate individual performance. Teaching faculty are subject to salaried compensation based on an objective "step" scale (i.e. Salary is determined by years of service). Staff are also salaried and receive a standard annual increase to adjust for inflation. The headmaster's performance and compensation is reviewed and determined by a sub-committee of the board and subject to approval by the executive committee and the board of trustees. The annual compensation process involves attention to and avoidance of conflicts of interest, use of comparability data gathered and contemporaneous documentation of the meetings, deliberations and decisions. There is no formal incentive-based compensation policy throughout the entity.”

“The organization makes its annual report, 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). The form 990 without schedule b can also be accessed via guidestar and the massachusetts attorney general's website.”

“Loss from contribution receivable -2,600,000.”