Sleighton School

“Elwyn of pennsylvania and delaware is the sole member of sleighton school.”

“Elwyn of pennsylvania and delaware, as the sole member, reserves, among others, the power to appoint the members of the board of directors of sleighton school.”

“The organization has no committees.”

“The form 990 is internally prepared and sent to our external public accounting firm for review and compilation. The completed return is then sent back to the organization and is reviewed and accepted by the elwyn foundation's audit committee, the parent organization of elwyn of pennsylvania and delaware. Prior to filing, the form 990 is sent to the full board of directors of the elwyn foundation.”

“The board of directors of the elwyn foundation reviews the conflict of interest policy on a periodic basis. Board members complete conflict of interest forms on an annual basis. The completed forms are maintained by the assistant secretary of the board.”

“Sleighton school has no employees. An employment contract determines the compensation of elwyn's president. The board of directors of the elwyn foundation, the parent organization, approved the president's employment contract after thorough consultation with compensation professionals and review of compensation paid by comparable nonprofit organizations. The current contract covers compensation between july 1, 2022, and june 30, 2025. Annually, elwyn of pennsyvlania and delaware's president determines the compensation paid to other senior executives based on information from an independent consultant. The compensation information for these employees was distributed to the compensation and executive committees of the board of directors for their review and approval.”

“The consolidated financial statements of the elwyn foundation and subsidiaries are available through public sources as a result of the tax-exempt bond financing. The organization does not make its governing documents and conflict of interest policy available to the public.”

“1986, as amended (the "code") as more specifically stated in its articles of incorporation.”

“The agreement contains a provision that allows for a maximum environmental remediation credit of $3,000,000 against the purchase price that is based upon the projected total cost of (i) demolishing existing buildings, and (ii) remediating the existing environmental contamination. The agreement is subject to various contingencies that are standard in this type of real estate transaction. The agreement contains an outside closing date of november 2024. Closing is conditioned upon the approval of certain discretionary zoning amendments and a joint land development plan by two municipalities, the timing and certainty of which are currently unable to be predicted. There are currently several land use litigation matters pending in the delaware county, pennsylvania court of common pleas in connection with the municipal approvals required for the proposed development of thr property. The outcome of these litigation matters cannot be reasonably determined at this time.”