Wayland Academy

“The academy documents all meetings held and actions undertaken by the governing body. Minutes of meetings held by committees with authority to act on behalf of the governing body are generally not taken. Members of these committees are generally also members of the governing body and actions undertaken by these committees are reported to the governing body.”

“The prepared form 990 is reviewed by the members of the governing body, the head of school, and the chief financial officer before the return is filed with the irs.”

“All trustees and officers are required to verbally disclose all conflicts of interest at each quarterly meeting and are annually required to sign conflict of interest disclosure statements. If a conflict arises, that trustee recuses him/herself from voting on the matter.”

“The chairperson meets with the academy's head of school annually to discuss his performance evaluation and compensation package. Comparability data is obtained but is not solely utilized in determining the compensation package. The financial ability of the academy to pay appropriate compensation is a major factor in determining the compensation package. A written contract is signed by the chairperson and the head of school. Other officers are annually evaluated by the head of school. Comparability data is obtained but is not solely utilized for determining compensation packages. The financial ability of the academy to pay appropriate compensation is a major factor in determining the compensation package. A written one-year contract is signed by the officer and the head of school.”

“The academy makes its governing documents and financial statements available to the public upon request on a case-by-case basis.”

“Food service fees: program service expenses 650,145. Management and general expenses 0. Fundraising expenses 0. Total expenses 650,145. Medical services: program service expenses 86,158. Management and general expenses 0. Fundraising expenses 0. Total expenses 86,158. Outsourced staffing: program service expenses 3,847. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,847. Coaching fees: program service expenses 1,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,500. Athletic training fees: program service expenses 1,700. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,700. Educational consultant: program service expenses 0. Management and general expenses 20,494. Fundraising expenses 0. Total expenses 20,494.”

“Change in value of perpetual trust 7,289. Change in value of split-interest agreement 17,558. Change in value of beneficial interest in assets held in trust -73,171. Change in value of beneficial interests in charitable remainder trusts -54,768.”