The Baylor School

“The form 990 is prepared by management of the school with the assistance of elliott davis, llc/pllc. A draft form 990 and all of the required schedules are distributed to the vp of finance, who reviews the return with elliott davis, llc/pllc. Once the draft is finalized, it is distributed to the executive committee and board of trustees prior to filing with the irs.”

“The board of trustees evaluates all potential conflicts of interest on an annual basis. In the event of a conflict, the board will consider the nature of the conflict, and if warranted, the individual is asked to recuse him/herself from discussion and voting. Alternatively, if there is a potential business conflict, the board may be asked to evaluate appropriateness and, if necessary, manadate a change to or discontinuation of the relationship.”

“The executive committee sets the compensation for the headmaster. The executive committee is deemed independent as it is comprised of individuals that are neither related to nor subject to the control of the headmaster. In preparation of this decision, a compensation comparison is prepared using data from the nais. Data is pulled and analyzed using a set of predetermined peer schools and benchmark schools. Compensation discussions, for the headmaster, are documented in the executive committee minutes. Compensation for the faculty follows procedures outlined in the broadband system. Compensation for all other employees are determined using industry survey data (nais, nboa, nais, etc.) and market analysis.”

“All documents are available to the public upon request to the head of school.”

“When the covid-19 pandemic hit north america in march 2020, the school found itself in a unique position to aid in the fight against the spread of the disease. The school's research lab had equipment on hand to perform covid-19 tests. The school volunteered the lab's equipment and services to hamilton county for emergency testing from march to june 2020. During this time, the school processed over 14,000 tests for the county, at not cost to the citizens. When the contract period with the county ceased, on june 20, 2020, the school began partnering with other local nonprofits and small businesses to perform tests in a more timely manner than other labs provided. The school continues processing covid-19 tests.”

“Other administrative expense: program service expenses 500,482. Management and general expenses 365,412. Fundraising expenses 117,373. Total expenses 983,267. Fees & comission: program service expenses 344,057. Management and general expenses 425. Fundraising expenses 45,317. Total expenses 389,799. Athletics & camps: program service expenses 190,574. Management and general expenses 7,199. Fundraising expenses 0. Total expenses 197,773. Bad debt expense: program service expenses 0. Management and general expenses 90,000. Fundraising expenses 0. Total expenses 90,000.”

“Change in value csv crt -39,210. Change in csv life insurance -2,011. Interest rate swap loss -1,456,148.”

“NO CHANGE”