Trustees of Thayer Academy Inc

“There shall be an executive committee of the board of trustees. When it is not practicable for the board of trustees to meet, the executive committee shall have and may exercise all of the powers and authority of the board.”

“The form 990 is prepared by tax advisors of a national accounting firm with information provided by the controller and reviewed by the assistant treasurer. Following the review, a full version of the final draft form 990 is provided to the finance committee chair for review. The remainder of the trustees are notififed that a public disclosure version of the final draft for 990 is available on the board of trustees section of the academy's website for their review in advance of the board meeting at which questions may be asked. They are asked to specifically approve the filing of the final version with the irs.”

“Trustees and officers are required annually to complete an "annual disclosure of affiliations and conflict of interest" form. The completed forms are given to the assistant treasurer for review.”

“Compensation of the academy's head of school is set by a vote of the full board of trustees (in executive session). Acting on the recommendation of a specifically tasked sub-committee, considering a performance review/evaluation. The sub-committee is composed of the standing committee chairs, the clerk, and the board chair. The sub-committee meets as necessary in order to prepare the recommendation. Comparability data reviewed by the sub-committee includes regular annual salary, deferred compensation amounts and the value of other benefits provided. This is provided by the academy's chief financial and operating officer, who obtains it from a database maintained by the national association of independent schools (nais). It is provided in statistical format without identifying amounts with specific schools, showing minimum, maximum, mean, median, and quartile figures for 14 schools that are considered a meaningful peer group for thayer academy. The same group is used consistently from year to year. Compensation of other officers or key employees is set by the head of school. In doing so the head of school is guided by the peer group comparitative data provided by the assistant treasurer. This process was last followed in 2024.”

“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 documents are available via guidestar and the massachusetts attorney general's website.”

“Change interest swap obligations 542,144. Beneficial interest in perpetual trust 215,263.”

“The organization has not changed its oversight policy or selection policy during the tax year.”