Lycee Francais De San Francisco

“The school parents are treated as members.”

“The parents, who are members of the school, elect at least 60% of the members of the board of trustees. Elections for vacant positions are typically in december.”

“The school parents are treated as members and have authority to elect the board of trustees and to approve or deny changes to the bylaws.”

“The form 990 is distributed to the entire board. The board approved a motion to authorize the treasurer to sign and file the return.”

“The conflict of interest policy applies to interested persons, which include any trustee, director, principal officer, member of a committee with governing board delegated powers, or any member of the administration of the organization who has a direct or indirect financial interest. Interested persons are required to disclose the existence of any financial interest and be given the opportunity to disclose all material facts to the trustees, directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. If a conflict is determined to exist, the chairperson of the governing board or committee may, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“Documents are available upon request.”

“As of june 2019, grants and similar amounts paid presented only include the need-based lfsf scholarship. In previous years it was also including personnel tuition remission. Prior year need-based lfsf scholarship was $910,224.”

“Change in reporting of interest rate swaps 66,722. Pledge write off -43,510.”

“The process of the finance committee has not changed from the prior year.”