Little Red School House Inc

“MANAGEMENT REVIEWS the DRAFT COPy OF THE 990 FOR ACCURACY BEFORE CIRCULATING A DRAFT COPY TO THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. THE FINANCE COMMITTEE REVIEWS THE DRAFT FOR ACCURACY AND THEN POSITIVELY RECOMMENDS THE DRAFT TO THE BOARD OF TRUSTEES, WHICH IN TURN REVIEWS AND DISCUSSES THE DRAFT AT A REGULARLY SCHEDULED BOARD MEETING. AFTER THIS GOVERNANCE PROCESS, THE 990 IS FINALIZED FOR FILING.”

“THE ORGANIZATION OBTAINS THE COMPENSATION DATA RELATING TO TOP MANAGEMENT OF SIMILAR ORGANIZATIONS WHEN CONSIDERING THE INITIAL SALARY AND BENEFITS OF KEY EMPLOYEES, AS WELL AS INCREASES ON COMPENSATION. THE ORGANIZATION ALSO REGULARLY CONSIDERS INDUSTRY TRENDS REGARDING MANAGEMENT compensation. ONCE THE APPROPRIATE DATA HAS BEEN OBTAINED, IT IS ANALYZED AND approved AT A REGULARLY SCHEDULED MEETING OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. ACCORDINGLY, LREI SATISFIES THE IRS CRITERIA WITH RESPECT TO THE REBUTTABLE PRESUMPTION OF REASONABLENESS.”

“The organization makes its governing documents and financial statements available to the public upon written request.”

“Lrei circulates its conflict of interest and whistleblower policy to trustees on an annual basis. Each trustee is asked to acknowledge receipt of the policy and to indicate compliance with it. If any conflict of interest is indicated on the acknowledgement, or if any conflict of interest otherwise arises, the issue is addressed by the director of lrei and the chair of the board of trustees, who may consult with disinterested members of the executive committee on the matter.”

“A leader in progressive education since 1921, LREI teaches children to be independent thinkers who work together to solve complex problems. Students graduate from our diverse community as active participants in our democratic society, with the creativity, integrity, and courage to bring meaningful change to the world.”

“At LREI (Little Red School House & Elisabeth Irwin High School) we understand that students learn best when they are engaged. Our 14 year progressive program is rooted in a fundamental love of learning and a connection to the real world. Our teachers, experts in their fields, encourage children to use their curiosity, compassion and imagination to think deeply and to participate in finding solutions to real problems. We understand that the world around us - particularly our ever-vibrant home, New York City - is the best place to learn. You'll find our students asking questions about green design at the High Line, filming a documentary on Coney Island's boardwalk and volunteering at the local food pantry we've partnered with for years. We provide a rich and challenging progressive program for bright, inquisitive students who bring a range of abilities and interests to their collective study of the world. Our school is a community built on understanding and respect for others. Like New York City, this community is diverse in every sense, with a variety of family structures and beliefs, as well as other, more familiar definitions of diversity (racial, ethnic, socio-economic, religious). Our interdisciplinary curriculum and school-wide social justice initiatives promote understanding of many cultures. As individual achievement is encouraged and rewarded, our program underscores the value of shared goals and cooperation in mastering difficult tasks. By the time LREI students graduate, they are ready to make their marks on their university campuses because they have learned to be active citizens in their school, city and global communities.”

“In connection with the issuance of the Revenue Bonds, Series 2013, in October 2013, the School has entered into an interest rate swap agreement with notional amounts indexed to the outstanding principal of the debt which resulted in an unrealized gain of $645,947 in fiscal year 2022.”