Rowland Hall-St Mark'S School

“Philip mccarthey (vice chair) and molly mccarthey-spain (board member) are father and daughter, respectively.”

“Upon completion of the irs form 990, the finance committee of the board received the return in order to undertake a major review. Time was set aside at one finance committee meeting in which board members were invited to participate in the review and suggest any changes/corrections. The areas of significant review are designated - part vi governance, management and disclosure; part vi policies and compliance; and part vii compensation. These sections received the deepest review from the finance committee to review accuracy and compliance with requirements set by the irs and other governing agencies. After the review in the finance committee, a copy of the completed irs form 990 was provided to the full governing body prior to filing the return. It is expected that all trustees review and are familiar with the contents of the return and will question or clarify any items they do not understand. In a subsequent board meeting, there was a quick review of the finance committee's review process as well as time to raise any questions on specific information on the irs form 990.”

“The conflict of interest policy is distributed annually to each trustee for them to read and to have them sign that they understand and agree to accept compliance with the policy. The business office and the finance committee work together to monitor and enforce compliance and check that there are no potential conflicts from any transactions undertaken. If there is a matter that requires a vote of the governing body, should there be any trustee that might have potential conflict of interest, they are prohibited from participation in that vote.”

“The executive committee of the board reviews and maintains familiarity with the safe harbor clauses regarding the compensation of the head of school and other key employees of the organization. Relevant data that is gathered from the latest annual surveys from comparable schools both nationally and regionally is relied on to ensure reasonable compensation. The data is reviewed by trustees that are independent and uphold their fiduciary responsibilities to the school to determine what is reasonable pay and compensation. The review of the data and the determination of the compensation are documented to record how the compensation was determined. These records help justify any complaints or contests as to the reasonableness of the compensation. The committee reports to the board of trustees and they review the determination for accuracy and reasonableness, as well as for approval. This process is followed for the compensation of the head of school, as well as the other key employees.”

“This is available upon request.”