The Collegiate School

“To protect donor privacy, the school does not provide schedule b to the board of trustees. However, a full public disclosure copy of the form 990 is provided to the board for its review before it is filed. The form 990 is reviewed by the school's head of school and chief financial officer/chief operating officer as well as the school's independent accounting firm cherry bekaert.”

“Each year, all officers, trustees, and key employees are required to complete a conflict of interest statement, noting any relationships and/or conflicts they have with collegiate school. By signing, they acknowledge that they have received a copy of the school's code of business ethics for trustees and the school's policy statement of conflicts of interest. The statements are kept on file with both the board secretary and the business office and are referred to throughout the year as needed. The following is an excerpt from collegiate school's board of trustees conflict of interest policy: "an officer, trustee or staff member who has a conflict of interest will neither participate in nor exert his or her personal influence with respect to the matter or be permitted to hear the board's or committee's discussion of the matter except to disclose material facts and to respond to questions. In the event that an officer, trustee, or staff member does have a conflict of interest with respect to a matter, they will be ineligible to vote and this will be reflected in the minutes."”

“The compensation committee of the board of trustees, which is comprised of the current and past chairs and the vice-chair, is charged with reviewing the performance and establishing compensation levels for the head of school. The process begins with a set of annual goals developed by the head of school and the full board. To begin the performance review discussion, the committee solicits feedback from the board on how well those goals have been met. In addition, the committee reviews the self-appraisal prepared by the head of school. As part of its compensation considerations, the committee reviews the index (independent data exchange) report on the salaries and total compensation for heads of schools. The index benchmarking group consists of approximately 50 jk-12 co-educational day schools across the nation with similar missions to collegiate school. The committee also reviews any other comparisons that may be available at that time. The committee's process and decisions are communicated to the chief financial officer/chief operating officer and are documented in the form of a memorandum to the file. With respect to the compensation of other key employees, the school uses national benchmarking data from approximately 50 like independent schools, including compensation surveys. The salaries are determined based on this data, in addition to job duties and responsibilities, expertise, and the market for those skills and expertise are compensation factors as well.”

“The school's governing documents, conflict of interest policy, and financial statements are generally not available to the public, although its articles of incorporation are publicly available through the virginia state corporation commission's website.”

“Change in value of split interest agreements -1,607. Change in benefit plan obligation 313,700.”