Francis Parker School

“Sarah white was secretary of the board until 11/13/18. She remained on the board for the remainder of the year as a trustee.”

“There is one class of members. Members are: (a) parents or legal guardians of currently registered students of the school who are identified as such on the school's enrollment agreement; and (b) all current members of the board of trustees. Members who are not delinquent in paying tuition or other fees are considered to be members in good standing and may attend or vote at meetings of members. Even though a person may qualify multiple times as a member (e.g., by virtue of having more than one child enrolled at the school or being a parent and a member of the board), no person shall have more than one vote as a member.”

“Nominations for election to the board of trustees are made through the school's board governance committee. Elections to fill vacancies on the board of trustees take place annually at the annual members' meeting. All school members in good standing are allowed to vote for members of the board of trustees. A good standing school member is defined as any parent or legal guardian of a currently registered student identified as such on the school's enrollment agreement who is not delinquent in paying tuition and other fees, as well as current members of the board of trustees. The candidates receiving the highest number of votes are elected until the total number of vacancies is filled.”

“In accordance with the school's bylaws, the board of trustees has delegated the oversight of various items to the audit committee. These items include the review and approval of audited financials statements and information returns. Following the audit committee's approval, a copy is provided to the board of trustees.”

“The information returns of the school are prepared and reviewed by school employees and the school's external auditors. A draft of the information returns is then provided to the audit committee of the board of trustees for review. The audit committee's questions and comments are addressed and incorporated, and the audit committee approves the information returns. Following the audit committee's approval, a copy of the information returns is provided to the trustees. The information returns are then filed.”

“On an annual basis, members of the board of trustees are required to read and sign a conflict of interest statement in which each member expressly acknowledges an obligation and responsibility to: (a) carry out their duties and exercise any authority for the sole benefit of the school; (b) avoid any circumstance in which the members personal interests conflict with the interest of the school; and (c) notify the board of trustees in the event the member has a potential conflict of interest or has knowledge of another person having a potential conflict of interest. Trustees with a conflict are precluded, by policy, from participating or voting on the conflicted topic. In order to be employed by the school, new employees are required to acknowledge in writing that they have read and understand the policies in the school's employee handbook. Included in the school's employee handbook is a conflict of interest policy, which prohibits employees from engaging in activities that directly compete with the business or interests of the school. In addition, the school's employee handbook includes a whistleblower policy, which outlines the school's process for reporting any suspected violations of school policy and provides assurance that any employee who reports a potential violation will not be subject to retaliation.”

“Compensation for the head of school is set by the compensation committee of the board of trustees. The compensation committee considers compensation reports and other information from national, regional, and local surveys prepared by independent parties for comparable positions when determining the head of school's compensation. The approved compensation plan for the head of school is documented in an employment agreement which is approved by the board of trustees. The compensation committee last reviewed this compensation plan in april 2019. Compensation for other officers and key employees is set by the head of school with input from the compensation committee of the board of trustees. The head of school considers compensation reports and other information from national, regional, and local compensation surveys for comparable positions when determining compensation for other officers and key employees. The head of school reviews this information with the compensation committee before finalizing the compensation for other officers and key employees. The compensation for all officers and key employees is documented in employment letters.”

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

“Change in value of interest rate swaps -318,798.”

“The process has not changed since the prior year.”