Hopkins School Incorporated

“Bylaws were amended by the board of trustees in fy2025. Changes to the bylaws include and are not limited to the following: - article ii, section 3(f): added special term limit for the president - article ii, section 5(c): expanded the president's rights to attend committee meetings serving as ex officio member of committee trustees - article iii, section 6(c): expanded fundamental matters that require two-thirds of trustees vote - article iv, section 6: added the term limit for board officers - article iv, section 7: added clause for removal of officers - article iv, section 9: added clause for resignations of officers - article vii: updated the "finance committee" to "finance and investment committee and expanded the responsibilities of the committee - article vii: expanded the responsibilities of the audit committee”

“The audit committee of the committee of trustees has been authorized to review the form 990 and to approve its filing. When it has performed its authorized duty, the audit committee reports to the committee of trustees that it has reviewed and approved its filing. The 990, excluding schedule b schedule of contributors, is then made available to trustees as requested after it is filed.”

“The school has a conflict of interest policy that applies to all trustees, officers and key employees. Each trustee, officer, and key employee must annually sign and submit the conflict of interest statement to the board. If a potential or actual conflict is disclosed at any time, the board will review the material facts and circumstances and follow-up on the non-compliance. If it is established that an actual conflict exists, the individual will be notified immediately and will not be allowed to vote or be a part of any discussions about any such transactions that have to do with the conflict until the conflict is resolved. Any discussion regarding the conflict of interest transaction is documented in the minutes of the board meetings, reflecting the conflict of interest that was disclosed, the name of the interested person, and the final determination and decision.”

“Compensation for the head of school is set by contract. At the outset of the contract, compensation is determined by a subset of trustees, including the president. Benchmark and comparative data obtained from a variety of sources, including the national association of independent schools and other regionalized surveys, is used to determine a market based rate of compensation. The compensation decision documented in the records of the organization. This process was last completed in fiscal year 2025. Compensation for the chief financial and operating officer is set by contract. This contract runs for a single twelve month period. Rates of compensation under this contract are set annually by the head of school. Benchmark and comparative data obtained from a variety of sources, including the national association of independent schools and other regionalized surveys, is used to determine a market based rate of compensation. The compensation decision documented in the records of the organization. This process was last completed in fiscal year 2025.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request.”

“Loss on disposal of property and equipment 2,000. Change in valuation of split interest agreements 74,500.”

“The organization has a trustee committee that is responsible for the oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.”