Professional Childrens School Inc

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by the audit committee and is ready to be filed with the internal revenue service, a public disclosure copy is electronically sent to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing. A full copy of the form 990 is also made available to any trustee wishing to view the full return including schedule b information.”

“The school currently has in place a conflict of interest policy, which the board annually monitors and enforces. The board mandates each trustee, officer and key employee (if any) of the school to annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. In connection with any actual or possible conflict of interest, an interested person discloses the existence of the interest and be given the opportunity to disclose all material facts to the trustees and members of the committees considering the prosed transaction or arrangement. After disclosure of the interest and all other material facts, and after any discussion with the interested person, the interested person is not to be present at any point while the determination of conflict of interest is discussed and voted upon by remaining the board or committee members. The minutes of the meetings of the board and its committees will reflect the board's deliberations and voting process on the conflict of interest.”

“The compensation of the head of school is set by the executive committee of the board of trustees. The executive committee determines the compensation of the head of school using annual performance evaluation and comparable data. The chair of the board gathers peer institution compensation data from at least two sources, always including national association of independent schools (nais) and nys association of independent schools (nysais) for the head of school and provides the data to the executive committee for review. The executive committee uses the information provided to determine the head of school's salary and benefit and submit the recommendation to the board of trustees for final approval. This process was last conducted in april 2024 and documented in the minutes of the governance committee meeting.”

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

“Write off of uncollectible pledge -100,000.”