Hockaday School

“The executive committee consists of the officers of the board, chairs of other standing committees, subject to exceptions, and up to three at large members appointed by the chair of the board. The board delegates to the executive committee all powers and duties of the board, except those powers and duties which are expressly reserved to the full board. Included in such delegated powers is the power to compromise, settle, and defend against any and all disputes, claims, and lawsuits, subject to the policies of the board. The executive committee shall conduct the business of the school and oversee the work of committees between meetings of the full board. Specific responsibilities include, but are not limited to: monitoring the schools progress relative to the strategic plan, setting goals for the board and provides feedback to the head of school and compensation committee who approves the head of school goals, monitoring the boards progress toward its annual goals, monitoring and reviewing the progress of the head of school against established goals, and reviewing all policy recommendations prior to presentation to the full board.”

“Lyda hill and nicole ginsberg small have a business relationship.”

“The form 990 is prepared by the management of the school with the assistance of armanino llp, independent tax advisors. The form 990 and all of the required schedules are presented to the audit & ethics committee, consisting of not less than four members. The audit & ethics committee then reviews the draft form 990 with management of the school and armanino llp. Once the draft is finalized, it is distributed to the board members via email prior to filing with the irs.”

“The conflict of interest policy and questionnaire are distributed to the board of trustees prior to the may (final) board meeting. The conflict of interest policy and questionnaire are distributed to the leadership team during the same time frame. The leadership team is expected to attend the board meetings, but occasional conflicts do occur. The questionnaires are returned to the office of the cfo and are reviewed for any conflicts. In addition, the director of finance and the cfo review the forms and discuss other potential conflicts. A summary of such conflicts, if any, is prepared for disclosure on the form 990 and is reviewed by the audit & ethics committee. A person found to have a conflict of interest shall not be involved in the discussion of or vote on the transaction or arrangement giving rise to the conflict.”

“The compensation committee sets the compensation for the head of school. The compensation committee is comprised of the chair of the board, the chair of the finance and administration committee, and the chair of the board governance and leadership committee. The compensation committee is deemed independent as it is comprised of individuals unrelated to and not subject to the control of the head of school. In preparation for this decision, a compensation comparison is prepared using data from the national association of independent schools (nais). Data is pulled and analyzed for a set of predetermined peer schools and benchmark schools. The compensation committee then uses this information to negotiate the contract for the head of school. The head of school sets the salaries of the leadership team (including the key employees as well as various other leadership positions). He or she uses similar comparable data from nais to determine salary levels.”

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

“Change in value in split-interest agreement 9,696. Provision for uncollectible pledges -190,334.”

“The process has not changed from prior year.”