Sandia School

“The by-laws were changed in may of 2021 to revise the trustee terms. Previously the trustee terms were 3 years, 2 years and 1 year. After the change, the trustee terms are now for 2 years for a maximum of 3 terms.”

“The form 990 is reviewed by the business manager, then by the finance committee. After any required revisions are made, it is then presented to the entire board for their approval prior to filing.”

“All trustees and key employees are required to complete a conflict of interest disclosure form each year which explains the occasions that might give rise to conflicts and the answers are reviewed by the business manager. Any trustee with a potential conflict of interest is instructed not to vote on any board proposals that pertain to the area of conflict.”

“The head of school's compensation is determined by an independent board of trustees. Key employee compensation is determined by the head of school. The school uses information derived from its professional membership organizations for use in setting parameters for the head of school's salary. Other salaries are established within budgetary constraints and closely follow the local market rates for similar positions. The determination and approval of compensation for the head of school is properly documented.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public based upon specific requests by individuals or organizations.”

“The joy of living and learning is at the center of all we do. Sandia preparatory school provides remarkable opportunities for intellectual and personal growth within a challenging and balanced program. As an extension of our families, sandia prep's diverse community inspires students to find their academic focus, talents, and creativity.”

“Cafeteria expenses: program service expenses 190,154. Management and general expenses 6,841. Fundraising expenses 518. Total expenses 197,513. Student activities: program service expenses 186,622. Management and general expenses 0. Fundraising expenses 0. Total expenses 186,622. Administrative expenses: program service expenses 0. Management and general expenses 143,452. Fundraising expenses 0. Total expenses 143,452. Fundraising: program service expenses 0. Management and general expenses 0. Fundraising expenses 100,239. Total expenses 100,239. Bad debts: program service expenses 0. Management and general expenses 25,000. Fundraising expenses 0. Total expenses 25,000. Facilities rental expense to pg. 9: program service expenses -27,719. Management and general expenses 0. Fundraising expenses 0. Total expenses -27,719. Funraising expense to pg. 9: program service expenses 0. Management and general expenses 0. Fundraising expenses -36,031. Total expenses -36,031.”

“Unrealized gain (loss) on swap agreement 300,136. Rounding 8.”

“The organization has a committee that assumes responsibility for oversight of the audit and selection of an independent accountant. The oversight and selection process has not changed since the prior year.”