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 process described here was last completed in 2023.”

“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 717,854. Management and general expenses 0. Fundraising expenses 0. Total expenses 717,854. Medical services: program service expenses 63,182. Management and general expenses 0. Fundraising expenses 0. Total expenses 63,182. Sports officials: program service expenses 23,381. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,381. Academic testing: program service expenses 18,978. Management and general expenses 0. Fundraising expenses 0. Total expenses 18,978. Fire alarm: program service expenses 15,441. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,441. Other prof fees: program service expenses 804,182. Management and general expenses 30,784. Fundraising expenses 2,771. Total expenses 837,737. Educational consultant fee: program service expenses 0. Management and general expenses 38,767. Fundraising expenses 0. Total expenses 38,767.”

“Change in value of beneficial interest in charitable remainder trusts 47,455. Change in value of split-interest agreement -13,496. Change in value of beneficial interest in perpetual trust 38,902.”