Henry Viscardi School

“The School's form 990 is reviewed internally by The Controller and The CFO, and is then mailed to the School Board for a final review prior to its filing with the IRS.”

“The School ensures compliance with the Organization's written conflict of interest policy by requiring each Board Member to annually sign a statement which confirms such person has received a copy of the policy, understands it, agrees to comply with it, understands that The School must engage primarily in activities which accomplish one or more of its tax exempt purposes to maintain its Federal Tax exemption and shall disclose any possible conflict of interest annually. It also performs periodic reviews to ensure that all compensation arrangements, and benefits are reasonable, that agreements with independent contractors do not result in impermissible private benefits, and that arrangements with employees and other third parties further the organization's charitable purpose and do not result in inurement or impermissible private benefits.”

“The School's Board of Trustees determines the appropriate compensation of The School's Principal/Head of School through a review of compensation paid for comparable positions by similarly situated non-profits and public school entities. The Board utilizes the findings of it's comparability studies to assure that the compensation paid by the School does not exceed the benefit received by the organization in exchange for such compensation. In addition, written offers that The Principal/Head of School may receive from similar institutions are also taken into consideration as is the availability of individuals possessing expertise or specialized training in the geographic area.”

“The Henry Viscardi School makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“Accrued post retirement liabilities-Under the provisions of the Agreement, all union employees of the School are entitled to receive payment of certain of their unused sick/personal days upon retirement. In addition, under the agreement, the School is required to provide certain healthcare benefits to retired employees. Expenditures under these plans are reimbursable expenses under The School's New York State grant when actual payments to retirees are made subject to the specific limitations on grant expenditures. Employees hired after September 1, 2013 are not eligible for the postretirement benefit. Benefit payments, which reflect expected future service, as appropriate, are expected to be paid over the next 75 years.”

“Change in net assets from post retirement benefit accrual”