Springside Chestnut Hill Academy

“The form 990 is initially reviewed by the chief financial officer, the president, and the chair of the governance committee. An electronic version is then provided to the voting members of the board of trustees for their review before the return is filed with the internal revenue service.”

“The board of directors, officers, and key employees complete a conflict of interest disclosure statement to disclose any potential conflicts of interests on a yearly basis. Family and business relationships are expressly mentioned in the statement. The statements are collected, reviewed and retained by the chief financial officer. Any potential or actual conflicts will be reviewed by the board. Interested parties to the conflict abstain from any discussions or decisions involving the conflict.”

“The governance committee of the board of trustees is responsible for overseeing the implementation and execution of all human resources policies, including compensation. The compensation committee of the board of trustees reviews the compensation for officers using comparable compensation data to ensure all officers' compensation is within fair market range for the industry. The compensation committee then makes recommendations to the governance committee with respect to officers' compensation. During the current year, the compensation and governance committees reviewed the compensation for officers and, as part of the process, reviewed comparable compensation data for schools in springside's peer group (including local schools and schools in the mid-atlantic region). The governance committee made determinations based on this review. In addition, the president uses local, regional and national organization comparatives to determine key employees' salaries. These organizations include, but are not limited to, paisboa, nais and nboa. All discussions are documented in committee minutes.”

“The governing documents, conflict of interest policy, and financial statements are available upon request.”

“Sch academy continues to make improvements in our multi-day trip program for younger and middle-aged students and in our global travel program, which encourages students to think critically about their roles as global citizens in an increasingly interconnected world. Trips are aimed at building community, enriching and extending students' curricular studies, deepening awareness of global issues, and providing experiences, such as field research, not available on campus.”

“Our engineering and robotics department continues to grow and offer students creative new ways to explore these fields. Last year two students applied for and received a grant of an airplane kit from the bede foundation and have begun assembling a bd-4c airplane. It is expected that this project will take up to four years to complete, offering opportunities for new students to become involved as the current student-builders graduate. Sch is proud of its significant and enduring commitment to environmental sustainability. In the 2015-2016 school year, two new accolades were added to our list of sustainability initiatives: the school's cafeterias were upgraded to 3-star certified green restaurant status by the green restaurant association, and the school was named a bronze-level eco-school by the national wildlife federation's eco-schools usa program. This year the school further strengthened its efforts around diversity and inclusivity with additional training for faculty and staff and the hiring of a full-time diversity and inclusion coordinator who works with students and faculty to develop meaningful diversity programming and experiences and to ensure that all members of the community feel they can be their authentic selves.”

“Net gain on interest swap agreement -461,663. Gain on beneficial interest in perpetual trust -417,932. Change in value of split-interest arrangements 15,406. Amortization of discount on split-interest arrangements -36,095. Loss on beneficial interest in chartible trust -962.”