Brandon Hall School Inc

“A copy of the Form 990 is reviewed by the COO/CFO and Board Chair before filing with the IRS.”

“No member of the board of Trustees shall use his or her position, or knowledge gained there from, in such a manner that a conflict between the interest of Brandon Hall School or any subgroups thereof and his or her personal interests arises. Each board member has a duty to place the interest of Brandon Hall School foremost in any dealings with the organization and has a continuing responsibility to comply with the requirements of this policy. The conduct of personal business between any board member and Brandon Hall School must be closely monitored. Board members may not obtain for themselves, their relatives, or their friends a material interest of any kind from their association with Brandon Hall School. If a board member has an interest in a proposed transaction with Brandon Hall in the form of a significant personal financial interest in the transaction or in any organization he or she must make full disclosure of such interest before any discussion or negotiation or such transaction. Any board member who is aware of a potential conflict of interest with respect to any matter coming before the board shall not be present for any discussion of or vote in connection with this matter. Except to the extent that the full board may request their presence to aid in the explanation of the matter under discussion. Under no circumstances are they to be present or participate in any vote on a matter in which they may have a potential conflict of interest.”

“Board performs an annual review of the headmaster/president of the organization.”

“Headmaster/president performs annual reviews of key personnel. All salaries are a component of the budget reviewed and adopted by the board.”

“Form 990 is made available to the public upon request.”

“On November 17, 2023, the School completed the sale of its property and equipment to AIS for a purchase price of $8,090,000. Included in the statement of net assets in liquidation are assets from liquidation of $6,328,273, which represents the proceeds from the sale of the property and equipment that are in excess of the value of the School's property and equipment at July 31, 2023.”

“On May 19, 2023, the board of trustees of the School made the determination that the School could no longer operate and began the process of liquidating its assets in order to settle its financial obligations and dissolve. As part of its dissolution, the board of trustees began making efforts to sell the School's property and equipment. In August 2023, Atlanta International School ("AIS"), came forward as an interested party to acquire the property and equipment of the School. AIS purchased the $4,300,000 note payable from the School from the School's existing financing institution that funded the note payable. In order for AIS to complete the purchase of the School's assets, the School was required to enter Chapter 11 bankruptcy proceedings. Completion of these proceedings allowed for the School to be released of its existing liens in order to sell its property and equipment and allowed for the School to settle its obligations with its other creditors. On November 17, 2023, the School completed the sale of its property and equipment to AIS for a purchase price of $8,090,000. Included in the statement of net assets in liquidation are assets from liquidation of $6,328,273, which represents the proceeds from the sale of the property and equipment that are in excess of the value of the School's property and equipment at July 31, 2023. Additionally, the School has accrued liquidation costs of $777,582, which represents estimated costs incurred subsequent to July 31, 2023 to settle the School's obligations.”