The Colburn School

“Form 990, Part VI, Section A, Line 2: Board Member Catherine Colburn Hogel is the daughter of Board Chairperson Carol Colburn Grigor. Board Members Richard W. Colburn and David D. Colburn are brothers of Carol Colburn Grigor and Uncles of Catherine Colburn Hogel.”

“Form 990, Part Vi, Section B, line 11b: The Form 990 is completed annually and reviewed by the CFO/CAO with the President & CEO and the Audit Committee. Once the CFO/CAO, President & CEO, and Audit Committee are in agreement on the final 990, copies are provided to the entire governing board, prior to it being filed. The Audit Committee reviews the 990 with the governing board. Once the 990 is considered final, the CFO/CAO will sign the return, or the authorization form for electronic filing, and submit by the filing deadline.”

“Form 990, Part Vi, Section B, Line 12c: Board members are required to disclose conflicts on the Conflicts of Interest Questionnaire. If conflicts are disclosed or otherwise brought to their attention, the board will review the potential conflict. It may determine that a conflict exists, but poses no risk of harm to the School or that some remedial action or intervention is necessary. The board documents discussion of the potential conflict and its resolution. The School also requires periodic review of transactions and relationships to ensure that there are no conflicts of interest.”

“Form 990, Part VI, Section B, Lines 15a and 15b: The process for reviewing and approving compensation includes review and approval by the board of directors and/or compensation committee of the board, provided that persons with conflicts of interest with respect to the compensation arrangement at issue are not involved in the review and approval. We use comparable compensation data (including Form 990's of other organizations and compensation surveys) for similarly qualified individuals in functionally comparable positions at similarly situated organizations; independent compensation consultants; and contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement is maintained.”

“Form 990, Part VI, Section C, Line 19: Governing documents and conflict of interest policy of the school, subject to the Federal or California state public disclosure rules, are made publicly available as the applicable law may require. Otherwise, governing documents and conflict of interest policy are provided to the public at the discretion of management. The financial statements and Form 990 of the School are publicly available as required by federal and state public disclosure rules. The School's website contains a statement to this effect and invites the public to contact the School if they wish to have this information. Upon receipt of an email, regular mail or telephone inquiry, the School sends the requested information as required.”

“Form 990, Part XI, Line 9: Unrealized Loss on Interest Rate Swap Related To Bonds: $(2,201,232) LOSS ON EXTINGUISHMENT/RESTRUCTURE OF DEBT: $(1,059,577) WRITE-OFF OF PLEDGE RECEIVABLE: $(400,000)”