St Andrew'S School

“The document in its entirety was reviewed by the school's chief financial officer, controller, and the chairman of the finance committee. The head master was also provided an opportunity for review. The full document with schedule b donor names and addresses redacted was then presented for review and approval of the full finance committee. The document with the same redaction was then made available to the full board of trustees prior to filing. The donor name and address redactions were made to preserve the confidentiality of donors including those who donate to the school anonymously.”

“Annually the school requires that all designated persons including board members, committee members and senior administrators execute a new annual statement certifying their compliance with the conflict of interest policy. The current conflict of interest policy is integrated by a reference in the annual disclosure statement. The policy requires the disclosure of any potential or actual conflict that may occur during the year and details the penalties for non-compliance. The conflict of interest policy is also an integral part of the school's employee handbook.”

“After utilizing an independent consultant in the initial hiring and salary setting process for the headmaster, the compensation of the headmaster is determined periodically by the executive committee and the president of the board of trustees. Such compensation, which will be incorporated into a written employment contract is then approved and ratified by the board. In determining the compensation of the headmaster, factors entering into the decision are performance-based, as well as market-based. Outside of performance, the committee will study compensation for similar positions at local, regional and national schools of similar size and structure when available, as well as examine available form 990's from other organizations. The school's other key employee, the chief financial officer, has his/her compensation determined annually by the headmaster. The compensation level is determined by his/her level of performance, as well as general market conditions. Tools utilized in the determination of salary include years of experience in and outside of the school industry, local, regional and national compensation levels for similar responsibilities, survey data, as well as comparisons to form 990's from other similar institutions or those where the incumbent may be qualified.”

“AVAILABLE UPON REQUEST.”

“St. Andrew's school is a nondenominational boarding and day school serving coeducational grades 6 - 12. The mission of st. Andrew's school is to reach out to those students with learning differences whose needs have not been met in public or private schools. Our student-oriented teachers are committed to identifying individual learning strengths and teaching to them. Since 1893, st. Andrew's has embraced social and economic diversity, offering a generous, need-based financial aid program. In a nuturing community, we emphasize moral and ethical values guided by our episcopal heritage in preparation for each student's purposeful engagement in the world.”

“Unrealized gains and losses -950,608. Interest rate swap 112,890.”