Far Hills Country Day School

“The organization's outside accounting firm assists in the preparation of the form 990. The board of trustees delegates the review of the form 990 to the audit and finance committees. The audit committee requests the additional financial review of the finance committee to augment small membership in the audit committee. The finance committee reviews and approves the public inspection copy of the form 990. The audit & finance committees will present and approve the 990 to the full board prior to filing with the irs. The 990 is shared electronically with the governing body via the board portal.”

“Far hills country day school has a conflict of interest policy that applies to all trustees, officers and key employees. Each trustee, officer, and key employee must annually sign and submit the conflict of interest statement to the cfo and assistant to the head of school 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 will review 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 head of school's compensation is established by the board of trustees governance committee and board chair. In determining the head of school's compensation, the committee use an assessment survey of the head of school and compensation study of similar positions in the same geographic area. The compensation decision documented in the records of the organization. This process was last completed in fiscal year 2024 by a rigorous committee that reviewed several compensations of nearby independent school heads. For other officers, the head of school regularly reviews the published salary ranges in the same geographic area for similar positions. Compensation for other officers is determined by the head of school.”

“The organization makes its form 990, governing documents, conflict of interest policy, and financial statements available upon request or by calling. The form 990 is also available on www.guidestar.org and other similar websites.”

“Loss on disposal of assets 1,312. Write off pledge receivable -37,500.”

“The far hills audit committee assumes responsibility for the oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the prior year. The current chair of the audit committee does a thorough review and attests to his findings at both finance committee meetings and full board meetings.”