Kent Place School

“The organization has its form 990 prepared by an outside accounting firm. The form 990 is reviewed and approved by the audit and risk management committee. Once approved, a redacted copy of the return with schedule b removed is then made available to the board electronically for final approval at a scheduled board meeting. The form is also made available to board members for 7 days prior to filing should there be any additional questions.”

“Kent place school has a conflict of interest policy that applies to board members and officers. Each board member and officer must annually sign and submit the conflict of interest statement to the committee on trusteeship chair disclosing their awareness of the policy and disclosing any potential conflicts of interest. If a potential or actual conflict is disclosed at any time, the board president will reviews the material facts and circumstances and follow-up on the non-compliance. If it is established that an actual conflict exists, the individual will be notified immediately and will not be allowed to vote or be a part of any discussions about any such transactions that have to do with the conflict until the conflict is resolved. Any discussion regarding the conflict of interest transaction is documented in the minutes of the board meetings, reflecting the conflict of interest that was disclosed, the name of the interested person, and the final determination and decision.”

“The compensation committee, consisting of board of trustee members, reviews the performance of the head of school and compares compensation to its peers based on surveys performed by school associations and independent compensation consultant. The committee reviews the key data and provides a recommendation to the president of the board of trustees. The compensation decision documented in the records of the organization. This process was last completed in fiscal year 2024. For other officer, the head of school determines compensation based on an annual performance review and periodically compares compensation to that of their peers based on surveys performed by school associations.”

“The organization makes its form 990, governing documents, conflict of interest policy, and financial statements available by written request.”

“The audit and risk management committee is responsible for the oversight of the audit of the financial statements and selection of an independent accountant. The organization has not changed its oversight or selection process during the tax year.”