Solebury School

“The executive committee consists of the duly elected officers of the board, the head of school and the chairperson of the committee on trustees, the finance committee, the development committee, the investment committee, the buildings and grounds committee, and the head evaluation committee. The executive committee has the full authority of the board to act in emergencies or when prudent management requires prompt action during the periods between meetings of the board. Such actions of the executive committee shall require a three-quarters vote of the members of the committee, shall be communicated promptly to the trustees, and shall be presented to the board for formal ratification at the board's next meeting.”

“Form 990, part vi, section b, line 11a: this question is required to be answered no based on the irs instructions, because, although the full board does receive and review a copy of the form 990 prior to the return being filed, the schedule a identification of excess contributions statement and schedule of contributors (schedule b) information have been redacted from the copy they are provided. This redaction is the school's good faith effort to comply and respect donor confidentiality requests. If a member of the board were to request access to the redacted information, it would be provided to them.”

“The conflict of interest policy applies to all trustees and executive-level administrative employees. Potential conflicts are reported to the chair of the board, the head of school, the director of finance and operations, and the board's executive committee. These parties consult with each other to determine if an actual conflict exists. The final decision belongs to the chair of the board, unless the potential conflict involves that person; then, it goes to the head of the school in consultation with the executive committee of the board. If a conflict is identified, a determination is made about the potential for such a conflict to compromise the school's well-being which involves questions of magnitude (usually financial), consequences, alternatives, etc. The well-being of the school, its students/families, its faculty/staff, and its overall community is always the primary basis for a decision as to whether or not the school can proceed despite the conflict. Annual disclosure of actual and potential conflicts is required.”

“The executive committee determines the initial compensation of the head of school using compensation data from the school's local and national associations. The head of school typically receives the same board-approved annual increase as all faculty and staff. Exceptions may be made based on the results of a review by the head evaluation committee. All compensation decisions are timely documented in a letter from the chair of the board to the head of school. The search committee, which included board members, determines the initial compensation of the director of finance and operations using guidance and data provided by search consultants. All compensation decisions are timely documented.”

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

“Change in values of gift annuities 2,625.”