Berkeley-Carroll Street School

“The draft form 990 is reviewed by the cfo and head of school for accuracy and completeness. Then, a copy of the draft form 990 is posted to diligent (board document software) for review by the finance committee who approves the draft at the finance committee meeting. The approved draft is then posted to diligent to be reviewed by all board members who approve the final draft at the board meeting before filing.”

“The conflict of interest policy applies to all employees, officers and trustees of the school. The cfo routinely review all vendor contracts for all material items, including potential conflicts of interest. The policy is detailed in the employee handbook, and all employees are required to sign an acknowledgement annually of all policies, including the conflict of interest policy. In addition, all trustees submit written statements annually 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 law firm provides the necessary and proper language for the contract, amounts and methods of compensation. Approval for this process is documented in the executive committee minutes. Review of this policy was last undertaken in 2019. All other employees: all other employment contracts are determined by the head of the school who refers to the national association of independent schools and market comparability data when deciding all compensation. Approval of this policy is documented in the finance and board minutes. Review of this process was last undertaken in 2019.”

“The exempt organization makes its form 990 and form 1023 available for public inspection as required under section 6104 of the internal revenue code. It is posted 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 at 152 sterling place, brooklyn, ny 11217 or by calling the organization directly at 718-534-6579.”

“Unrealized loss on interest rate swap -1,071,875. Loss on uncollectible pledge -7,000.”

“The organization 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.”