Sheridan School Inc.

“Prior to filing the form 990, the management team, consisting of the director of finance, senior finance staff and head of school reviewed the draft form 990 prepared by the organization's independent accountants. The draft form 990 was then made available to the audit committee for review. The membership of the audit committee includes trustees with practical and/or professional expertise in nonprofit management, accounting, and federal tax law governing exempt organizations. Before the organization submitted form 990 to the irs, the audit committee reported to the board of trustees that the audit committee had, to the best of its ability, determined that the draft form 990 was complete, accurate and correct. The draft 990 was then made available to the full board of trustees.”

“Full disclosure of all actual and potential conflicts of interest is required. Each trustee and officer of the school is required to disclose any and all facts that may be construed as a conflict of interest annually via a form and questionnaire, as well as whenever such actual or potential conflict occurs before any relevant action by the board of trustees or a committee of the board. The forms are reviewed by the director of finance to identify any potential conflicts to be reviewed with the audit committee. The committee will review whether or not a conflict exists and whether it may materially or adversely affect the interests of the school. The trustee with the potential conflict may not participate in this determination by the committee. If the committee determines that a conflict may exist, the board of trustees shall determine an appropriate remedy. This remedy may include the recusal of the trustee from certain matters pending before the board.”

“Annually, a review of the performance of the head of school is carried out by a committee consisting of the chair and officers of the board and the chairs of each standing committee. Following the performance review, the committee reviews the head of school's compensation, including the use of comparable compensation data of peer schools, and recommends extension, with or without change in compensation, for one or more years, or termination, of the head of school's employment contract. The recommendation of the committee is presented to the full board of trustees for their approval.”

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

“Gain (loss) from interest rate swap -27,655.”