Perkiomen School

“Form 990, part vi, line 7a - election of members and their rights - under the original charter (as amended) and the 2005 bylaws reinstated on october 25, 2012 pursuant to the order, and pending court action on the petition, the schwenkfelder church had the authority to appoint and elect 16 members of the board of trustees, of which four were to be elected at the church's annual general conference each year. Notwithstanding the provisions of the reinstated original charter (as amended) and 2005 bylaws, however, the board of trustees as constituted on august 12, 2010 had to remain the same until further order of the court. In october of 2014, the school and the schwenkfelder church reached a settlement wherby the school paid the church 475,000 and the church relinquished all authority with respect to appointment of governing body members and governance decisions. Form 990, part vi, line 7b - decisions subject to approval of members - under the original charter (as amended) and 2005 bylaws reinstated by the court on october 25, 2012 pursuant to the order, any amendment of the school's bylaws required approval of schwenkfelder church. Under the original charter, as amended, the church had the authority to cause the school to be dissolved and a reversionary interest in all of the school's property available for distribution upon dissolution. It is believed that pennsylvania law requires court approval before the church could exercise its rights under the reversionary interest. The foregoing rights of the church were subject to the court's order and any court action on the petition. In october of 2014, the school and the schwenkfelder church reached a settlement wherby the school paid the church 475,000 and the church relinquished all authority with respect to appointment of governing body members and governance decisions.”

“The school's form 990 is reviewed and approved by the headmaster and two assistant headmasters. The source of the financial information on the form is the audited financial statements for the filing period. These statements were reviewed and formally approved by the board of trustees at their fall meeting. A copy of the final 990 was provided to the board of trustees.”

“A conflict of interest disclosure statement is signed annually by the trustees. The document clearly states the conflict of interest policy requires trustees to disclose any known conflicts. Each document is signed by the trustee and filed with the office of the headmaster and ceo of the school.”

“Board hired an outside consultant and reviewed comparison charts to determine compensation for headmaster. Annual adjustments to the initial salary are made based on performance and are benchmarked against nais data and other boarding school information.”

“The headmaster sets salaries and salary increases for key employees in the organization. In doing so he uses the school's historical salaries as a starting guide and makes adjustments as necessary supported by salary statistics from the national association of independent school's (nais) database.”

“Available on request and on guidestar”

“Financial aid expenses, netted against rev on f/s -4,332,599 tuition discounts, netted against rev on f/s -235,854 loss on disposal of assets 6,860 uncollectible promises to give -757 loss on disposal of assets -6,860 financial aid expenses, netted against rev on f/s 4,332,599 tuition discounts, netted against rev on f/s 235,854”