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 and approved by the audit/financial committee, the head of school, and the chief financial officer before the return is filed with the irs. The full board shall receive a copy of the form 990 prior to it's irs submission.”

“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, conflict of interest policy, and financial statements available to the public upon request on a case-by-case basis.”

“Food service fees: program service expenses 593,146. Management and general expenses 0. Fundraising expenses 0. Total expenses 593,146. Sports officials: program service expenses 15,089. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,089. Fire alarm services: program service expenses 17,380. Management and general expenses 0. Fundraising expenses 0. Total expenses 17,380. Academic testing: program service expenses 13,992. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,992. Medical services: program service expenses 32,108. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,108. Program consultants: program service expenses 732,557. Management and general expenses 103,178. Fundraising expenses 290. Total expenses 836,025. Educational consultant fees: program service expenses 0. Management and general expenses 21,093. Fundraising expenses 0. Total expenses 21,093.”

“Change in value of beneficial interest in charitable remainder trusts -300,933. Change in value of split-interest agreement -13,554. Write off of uncollected promise to give -5,000. Change in value of beneficial interest in perpetual trust -167,005.”