The Berkeley Carroll School

“The form 990 is reviewed by the cfo and head of school for accuracy and completeness. Then a copy is sent to the finance committee who approve the form 990 at the finance committee meeting. The approved form 990 is then posted to diligent to be reviewed by all board members who approve the form 990 at the board meeting before filing with the internal revenue service.”

“The conflict of interest policy applies to all employees, officers and trustees of the school. The cfo routinely reviews all vendor contracts for material items, including potential conflicts of interest. The policy is detailed in the employee handbook, and all employees are provided with the handbook annually detailing any revisions to the policy. In addition, all trustees submit written statements annually, attesting that they are in compliance with the policy. With the exception of the head of school, any potential conflict involving an employee would be brought to the head of school. If the potential conflict involves the head of school or a trustee, the matter would be brought to the attention of the chair of the board of trustees. A person with a conflict of interest may make a presentation at a board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and vote on, the transaction or arrangement involving the conflict of interest. In addition, only persons who are independent trustees as defined in the bylaws may vote on the transaction or arrangement.”

“Head of school: whenever an employment contract for the head of school is prepared, an ad hoc committee of the board of trustees is formed. In addition, an independent consultant is hired to provide independent research and comparability data. The school's legal counsel is involved in providing the exact language for the contract, including amounts and methods of compensation. Approval for this process is documented in the executive committee minutes. This process was last undertaken in 2022. All other officers and key employees: all other employment contracts for officers and key employees are determined by the head of school, assistant head of school & cfo who refer to the national association of independent schools, market comparability data, years of experience, education and other qualifications when deciding on all compensation and benefits. Approval of this policy is documented in the finance committee and board minutes. This process was last undertaken in 2022.”

“The school makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The form 990 is available on guidestar.org and other similar types of websites. In addition, financial statements, governing documents and conflict of interest policy are available upon written request or by calling the organization directly.”

“Write off uncollectible pledges -15,000.”

“The school has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.”