Trustees of Thayer Academy Inc

“The prepared form 990 is reviewed in detail by the controller and the assistant treasurer. Following the review, a full version copy of the final draft form 990 is provided to the board chair and the finance chair for their review. The remainder of the trustees are notified that a public dislosure version of the final draft form 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. At this meeting they are asked to specifically approve the filing of this final version with the irs.”

“Trustees and key employees are required annually to complete an "annual disclosure of affiliations and conflict of interest" form. The headmaster requests these from key employees and the forms are returned to the assistant treasurer for review and monitoring during the year. The chairman of the board of trustees requests these from all trustees, and the assistant to the headmaster provides follow up to ensure all are received. The completed forms are then routed to the assistant treasurer for review and monitoring during the year.”

“Compensation of the school's headmaster 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 that 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 school's business manager, who obtains it from the 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 the 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 key employees is set by the headmaster. In doing so the headmaster is guided by the same peer group comparative data provided by the business manager for the following positions: director of admissions, director of communications, director of development, athletic director, director of technology, business manager and the heads of the middle school and upper school divisions.”

“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 form 990 is available via guidestar and the massachusetts attorney general's website.”

“Change in value of interest rate swap agreements obligation -106,295. Change in value of beneficial interest in perpetual trust 18,178. Provision for uncollectible promises to give 45,750.”