The Laurence School

“There are no committees that have the authority to act on behalf of the board.”

“The form 990 is reviewed by all board members and filed after approval.”

“All directors and officers, with a direct or indirect conflicting interest including any financial interest, are required to comply with the conflict of interest policy and complete an annual statement reporting any potential conflicts. Any officer, trustee/director, or employee (including faculty and staff) or committee member shall make a prompt, full and frank disclosure of his or her interest to the chair, board of trustees/directors, or relevant committee prior to its acting on such contract or transaction. The board of trustees/directors, or another committee designated by the full board, or the head of school in the case of an employee, to which such disclosure is made shall thereupon determine, considering in its or his or her discretion the advice of legal counsel, whether the disclosure shows that a conflict of interest exists or can be construed to exist. If a conflict is deemed to exist, such person shall not vote on, nor use his or her personal influence on, nor participate (other than to present factual information or to respond to questions) in the discussions or deliberations or board vote with respect to such contract or transaction. The minutes of the meeting shall reflect the disclosure made, the vote thereon, and, where applicable, the abstention from voting and participation, and whether a quorum was present. Conflict of interest policy is stated in the personnel handbook for employees who are to sign an acknowledgement stating they have read and will comply with the policies covered by the personnel handbook. Members of the board of trustees however are to sign an annual document identifying and notifying the governing board of any possible conflict of interest.”

“Executive committee of the board of trustee determines compensation of the ceo based on the data gathered from professional survey and trends (national and local). They make a comparative analysis on the ceo salary amongst schools in the area with the same number of students and same grades. They also collect data from the form 990 of competitive schools and determine the compensation of the ceo. The process was last conducted in fy 2024-2025 school year. The head of school applies the same process in determining the compensation for other officers, key, and highly compensated employees.”

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

“The process for oversight and selection of an independent accountant has not changed from the prior year.”