Saint Anns School

“The Director of Finance/CFO as well as the Controller and other school administrators are responsible for the preparation and submission of the draft Form 990. This first draft is emailed to a team consisting of the Head of School, the auditors, the President of the Board, the Audit Committee and the Treasurer (the only participant who is not a member of the audit committee) for review and comment. The Director of Finance/CFO coordinates the flow of information between the school and its auditors. The auditors respond with an open items list for the school's administration to address. The school addresses the open items and the next draft is sent to the auditors, President of the Board, members of the Audit Committee and the Treasurer. Once all of the auditors' open items and any issues raised by school officials have been addressed, the draft is returned to the auditors for review by their exempt organization tax and advisory services group. This group in turn generates a list of open items that the school's administration responds to. Once this final draft is complete, the auditors present it to a meeting of the full Audit Committee. A redacted draft of the 990 is distributed to the Board of Trustees for review and discussion prior to filing. The Director of Finance/CFO or the Head of School receives authority from the Audit Committee acting on the authority assigned to them by the Board of Trustees to submit the Form 990. A full copy is made available to the Board upon completion of the return.”

“The conflict of interest policy applies as follows: Any trustee, officer, member of the core administration, or member of a committee with powers delegated by the governing Board, who has a direct or indirect financial interest, as defined by the school's Conflict of Interest Policy, is an interested person. If a person is an interested person with respect to any affiliate of the organization, he or she is an interested person with respect to all affiliates. Duty to disclose: In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the trustees and members of committees with powers delegated by the governing Board, or to others considering the proposed transaction or arrangement. Determining whether a conflict of interest exists: After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing Board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining Board or committee members shall decide if a conflict of interest exists. Procedures for addressing the conflict of interest: The Chairperson of the governing Board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence the governing Board or committee shall determine whether the school can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under the circumstances not producing a conflict of interest, the governing Board or committee shall determine by a majority vote of the disinterested trustees whether the transaction or arrangement is in the school's best interest, for its own benefit and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement. Annual statements Each trustee, officer and member of a committee with powers delegated by the governing Board, as well as member of administration (as applicable) shall annually sign a statement that affirms such person: - has received a copy of the conflict-of-interest policy; - has read and understands the policy - has agreed to comply with the policy, and - understands the school is charitable and, in order to maintain its federal tax exemption, it must engage primarily in activities that accomplish one or more of its tax-exempt purposes. Periodic reviews To ensure the school operates in a manner consistent with charitable purpose and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. Such periodic reviews shall, at a minimum, include the following subjects: - Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining; and - whether partnerships, joint ventures, and arrangements with management organizations conform to the school's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes, and do not result in inurnment, impermissible private benefit, or in an excess-benefit transaction. Trustees' annual disclosure forms are reviewed by the Chair of the Audit Committee to determine if a conflict exists and if so, how it is to be managed. Trustees are required to recuse themselves from any decision as to which they have a conflict.”

“The Head of School's compensation is decided according to terms specified in his contract. The full Board (independent directors) using its independent research approves the compensation of the Head of School. The Head of School sets all other compensation, including salaries of every employee, subject to the review and approval of the finance committee and the President of the Board when the annual budget is fixed. The Head of School, the President of the Board, Treasurer and senior administrators receive NYSAIS and Guild of Independent Schools survey data regarding salaries. The Head of School uses these data when setting salary levels. The compensation process occurs annually. The compensation review process was last undertaken in May 2016.”

“The school makes its governing documents, conflict of interest policy, and financial statements available upon request or for inspection at the school's Finance Office. The School's Whistleblower Policy is published in the faculty handbook annually. It also makes its Form 990 available for public inspection as required under section 6104 of the Internal Revenue Code. The Form 990 is also available on guidestar.org and similar websites.”

“At Saint Ann's school we educate children in academic disciplines and the arts from Preschool through 12th grade. Through the efforts of more than two hundred and sixty faculty and staff, we engage curious, self-motivated students in an educational journey, instilling a love of learning that remains with them throughout their lives.”

“Saint Ann's school is an independent, non-sectarian day school offering instruction to over a thousand students in preschool through 12th grade. We believe education is a rich and subtle exploration and questioning of the world, not a means to an end. Since 1965 Saint Ann's School has brought together gifted children and passionate teachers in a fierce pursuit of knowledge, skill and artistry. We cultivate a joy for learning through a deep and rigorous curriculum, in which the arts are an essential presence. So that every child will flourish, we eschew grades and rankings in favor of ongoing dialogue and teacher reports. At Saint Ann's we offer our dreams to those who will share theirs with us. Saint Ann's education imparts the best of human traditions and discoveries while nurturing intellectual adventure. We seek to inculcate certain habits of mind that begin fundamentally with a love of learning for its own sake, and from that create a trajectory that equips each student with the capacity and confidence to make informed judgments about his or her course of study. The curriculum is, therefore, dynamic and flexible, even as it reflects our persistent ideals as a community of learners. Our students are given great freedom - certainly to achieve, also to trust themselves and to find deep satisfaction in learning for its own sake. In anecdotal reports, the classroom, at sports events, or on stage, we hold central the celebration of our students. Teachers at Saint Ann's are chosen for their strong intellectual and artistic interests and their commitment to the education of our children. Faculty are given the opportunity to communicate their enthusiasm, to use whatever they find practical in an effort to draw out the most authentic and exceptional work from their students. Our teachers' leadership in the classroom and out arises from their intellect, accomplishment, and profound sense of humanity. Our curriculum is a realm of possibilities where we meet our students. It is a substantive and dynamic means to engage every child. It is flexible and responsive, so that whenever feasible, our students undertake accelerated or specialized work in subject areas ranging from music to calculus to Chinese, based upon talents and interests rather than age or grade. We are a genuine community, operating seven days a week, constantly reinvented as our members move from role to role, sustained by a commitment to each other and to the ongoing symposium that is our school. The growth and success of Saint Ann's owe much to the faithfulness with which we adhere to our educational philosophy: that education is, in the last analysis, a celebration of life and that life is wondrous, ephemeral, and for those reasons, sacred.”

“Loss on disposal of fixed assets -1,032,083.”

“The President and Treasurer of the Board of Directors as well as the audit committee, Director of Finance/CFO, and the Controller of Saint Ann's school assume responsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. The process has not changed significantly from the prior year.”