The Woodlynde School Corporation

“The form 990 is initially reviewed by the director of finance. Once the internal review is complete, the form 990 is provided to the audit committee of the board for their review. It is then distributed to the entire board of trustees for comment before the return is filed with the internal revenue service.”

“As an independent school with limited resources, the organization is very careful when entering into any agreement that may result in a conflict of interest. The school's management requires multiple bids on all contracts, requiring that at least one bidder be completely independent of the school. On the very rare occurrence that the successful bidder is a stakeholder in the school, the school is very careful to communicate up front that no special treatment will be afforded to any student-related contractor. Additionally, all board trustees sign an annual conflict of interest disclosure. The annual disclosure specifically mentions family and business relationships and is monitored by the chairman of the board and/or chairs of sub-committees. Should a conflict, potential or actual, become apparent, the conflict is reported to the chairman of the board or chairman of a sub-committee closest to the conflict. The chair of the board (or chairman of the affected sub-committee) will bring the issue to the executive committee. The executive committee will make a formal assessment of the potential conflict and will ensure any interested party does not participate in any discussions or decisions involving the conflict. All discussions and actions are reported in the board minutes.”

“Compensation for the head of school is set by the executive committee of the board, with the approval of the full board of trustees. Compensation is set based on performance. The compensation packages of heads at comparable schools are also considered to ensure compensation is set within fair market range for the industry. All board-level compensation discussions are recorded in board minutes. Compensation for all other school employees, including top management officials, is determined by the head of school. Compensation is based on performance. The school's goal, supported by the board, is that all faculty and staff be paid at market rates.”

“The organization makes financial statements, conflict of interest policy and governing documents available to the public upon request.”

“Uncollectible pledges -123,302.”