The Hun School of Princeton

“THE ORGANIZATION'S FORM 990 WAS PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY FOR REVIEW AND COMMENT PRIOR TO FILING THE RETURN. The organization retained the services of a professional certified public accounting ("CPA") firm with experience and expertise in both education and not-for-profit tax return preparation to prepare the Federal Form 990. The CPA firm's tax professionals worked closely with the organization's CFO to obtain the information needed in order to prepare a complete and accurate tax return. The CPA firm prepared a draft Federal Form 990 and furnished it to the organization's CFO for her review. The CFO reviewed the draft Federal Form 990 and discussed questions and comments with the CPA firm. The CPA firm prepared a final draft of the Federal Form 990 for her review and approval. Following CFO approval, a copy of the final draft is provided to the governing body and their approval is secured prior to filing with the IRS.”

“The school's human resources director reviews the school's conflict of interest policy on an annual basis during their handbook and policy review. The school's attorney also reviews the policy periodically. This policy applies to the school's administrative team which includes board members and employees. All board member's completed annual statements are reviewed by the school's administrative secretary. The administrative secretary informs the head of school of all board member reported conflicts of interest. The head of school reports the board member conflicts of interest to the school's executive committee to review for any necessary mitigating behavior. Employee disclosure statements are submitted to the head of school, chief financial officer and human resources director for review and determination as to whether any significant conflict of interest exists. All conflicts of interest reported by employees are shared with the chair ofthe board and, if necessary, the executive committee.”

“The head of school receives an annual review by the executive committee of the board and the school's attorney related to his performance throughout the fiscal year. The head of school has a three-year written employment contract that outlines potential salary increases. The executive committee of the board determines whether an increase in compensation of the head of school is appropriate based on the committee's review. Peer benchmark compensation data was pulled and sent to the executive committee of the board for use in determining the head of school's compensation increase. Other officers and key employees receive annual reviews by the head of school. The board approves a budget and a set amount of overall salary increases each year. The human resources director performs a benchmarking analysis for all other officers and key employees. The human resources director and the head of school discuss whether compensation adjustments are necessary and warranted. The head of school typically informs the board chair and/or finance committee chair when he recommends compensation adjustments for the other officers and key employees.”

“The organization makes all of its governing documents, financial statements and conflicts of interest policy available to the public upon request.”

“Post-retirement benefit adjustment $ 298,914 bad debt expense $ (113,870) ----------- total other changes in net assets $ 185,044”

“The organization has a finance committee that reviews the audited financial statement by the independent auditors.”