St. Thomas School

“All parents and/or legal guardians of currently enrolled students of the school are members of the corporation. There is only one class of membership. No members have voting rights unless required by law or unless the board submits a matter to the members for approval or adoption, in which case all members have the same voting rights (one vote for each currently enrolled student whose account is in good standing).”

“The finance committee reviews the form 990 first. Then the finance committee makes recommendations to the whole board as they review the public disclosure version of the return (only schedule b donor information removed) before it is finally filed with the irs. This process ensures donor confidentiality protection.”

“The policy covers all board members and officers and is signed annually. Transactions are monitored for potential relationships as they arise and are overseen by the board president. Board members are recused from discussing and voting on the relevant item in the event that a conflict of interest arises.”

“The compensation of st. Thomas school's head of school was last reviewed in may 2017 by the executive committee of the board. This followed a full compensation review in may 2015 that was done by an independent compensation consultant that included an independent compensation study, benchmarks, and comparative salary information. Compensation is determined by the board, and is based upon the recommendation of the executive committee of the board which, in turn, takes into consideration the results of the compensation studies, recommendations from the compensation consultant, and attainment of strategic goals.”

“The governing documents, conflict of interest policy, and financial statements are available upon request.”

“There were approximately 200 parent volunteers who helped the school during the year in various capacities. There were 21 volunteer members of the board of trustees.”

“St. Thomas school implemented a new student dining program that provides fresh, nutritious meals to students and staff. The meal program integrates with various after school programs in order to provide a holistic school experience.”

“Change in accounting principle: during fiscal year 2017, the school implemented the requirements of the financial accounting standards board's accounting standards update no. 2015-03-interest-imputation of interest (subtopic 835-30): simplifying the presentation of debt issuance costs (asu 2015-03). Asu 2015-03 changes the accounting for debt issuance costs (financing costs) by requiring that such costs be reported on the statement of financial position as a direct deduction from the related debt liability. Previously, financing costs were reported as a deferred charge asset on the statement of financial position. The school has restated the fiscal year 2016 financial statement to conform to the fiscal year 2017 presentation and as a result $32,028 of unamortized financing costs were reclassified from deferred financing costs to long-term obligations on the statement of financial position as of june 30, 2016.”

“Uncollectible pledges 2,295.”