Saint Anns School

“The following key employees have a family relationship: david smith and jason asbury.”

“The chief financial officer (cfo) as well as the controller and other school administrators are responsible for the preparation and submission of the form 990. The form 990 is prepared by an outside accounting firm and sent over to the school for its initial review. This return is reviewed by the school administration, the president of the board, the chair of the audit and risk committee, and the treasurer for review and comment. The controller coordinates the flow of information between the school and its auditors. Once this final return is complete, the auditors present a redacted copy of the form 990 to the the full audit and risk committee. A full copy of the 990 is distributed to the board of trustees for review and discussion prior to filing. The cfo or the head of school receives authority from the audit and risk 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 school's 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. 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. 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. 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. Each trustee, officer and member of a committee with powers delegated by the governing board, as well as member of the administration (as applicable) shall annually sign a conflict of disclosure statement. Trustees' annual disclosure forms are reviewed by the chair of the audit and risk 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 in 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 and an independent consultant at times approves the compensation of the head of school. The head of school sets all other compensation, including salaries of every employee, subject to the oversight 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 survey data regarding salaries. The head of school uses this data when setting salary levels. The compensation process occurs annually. The compensation review process was last undertaken in june 2020.”

“The school makes its governing documents, conflict of interest policy, and financial statements available upon request 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 three hundred fifty 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 exists to nurture the wonder of children. Unfettered by grades, teachers and students embark on journeys of discovery in which the arts are central. Through an ambitious curriculum and a culture of inquiry, we question the world. We invite each other to take risks, pursue knowledge for its own sake, and celebrate growth. We seek to create a community rooted in trust and equity. Here, every subject is an art and every child is an artist. A saint ann's education imparts the best of human traditions and discoveries while nurturing intellectual adventure. 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.”

“Write-off of uncollectible pledges -420,233.”

“The president and treasurer of the board of trustees as well as the audit and risk committee chair and cfo 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.”