Country Day School

“Form 990 is reviewed by the finance committee chair and head of the school. Then, the final form 990 is provided to all members of the board of directors prior to filing the return.”

“The school has a conflict of interest policy that is a part of the school's personnel policies and included in the personnel handbook. Board members are asked regularly to disclose any conflicts of interest. Board members are required to review the policy for each school year and disclose in writing any conflicts or confirm that there are no conflicts. Each board member signs the policy for each school year. The school also reviews the conflict of interest policy with staff for each school year.”

“Compensation increases are reviewed and approved annually at the may board of directors meeting. Prior to the meeting, a designated board member compiles a parent survey of school operations and a faculty survey. The head of the school serves under a contract with annual increases documented through an addendum to the contract.”

“The school makes its organizing documents and financial statements available to the public upon request. Federal form 990 is available for inspection in the front office of the school.”

“The founder of country day school, dorothy b. Mccormick, created an irrevocable charitable remainder unitrust called the dorothy b. Mccormick charitable remainder unitrust. Under the trust agreement, dorothy b. Mccormick was granted a life interest and the school was granted a remainder interest. With a remainder interest, the school is entitled to all trust assets upon termination of the trust, which consisted of real estate leased to the school. Dorothy b. Mccormick, with a life interest, received income for life from the trust, which consisted of the rental payments made by the school. The trust terminated upon the grantor's death in 2018 and the real estate and any additional contributions made to the trust were transferred to the school. At april 11, 2018, the fair value of land was appraised at $4,800,000. Dorothy mccormick was the founder, former head of school, and a former board member. The school had the right of first refusal to purchase her residence and paid for routine grounds maintenance while she owned the property. Payments were at a fixed amount of $9,000 per annum and were adjusted based on increases in the consumer price index (cpi). The school leased land from the dorothy b. Mccormick charitable remainder unitrust. The lease expired upon termination of the trust in 2018. The rent was adjusted annually based on the consumer price index, not to exceed eight percent for a single year or 22 percent for any three year period.”