St Margaret of Scotland Episcopal School

“The Executive Committee shall consist of six or more members of the Board including the Chair of the Board, or his designated representative, the President, the Rector of St. Margaret's Episcopal Church, the Treasurer (if a member of the Board), and at least two other Trustees. At least one member of the Executive Committee shall also be a member of the Vestry of St. Margaret's Church. When the Board is not in session, the Executive Committee is empowered to act for the Board, subject to any prior limitations imposed by the Board or by statute. Except as otherwise provided in these Bylaws, the Board may delegate to the Executive Committee full authority to act on specific matters. In addition, the Executive Committee shall have the power to accept gifts to the School and to withhold acceptance of gifts to the School. The Executive Committee, however, shall not have power to act on any of the following matters: (1) The approval of any action for which approval of the Elector is required. (2) The filling of vacancies on the Board or on any committee which has the authority of the Board. (3) The fixing of compensation of the Trustees for serving on the Board or on any committee. (4) The amendment or repeal of Bylaws or the adoption of new Bylaws. (5) The amendment or repeal of any resolution of the Board which by itself express terms is not so amendable or repeal able. (6) The appointment of committees of the Board or the members thereof. (7) The approval of any self-dealing transaction except as provided in paragraph (3) of subdivision (d) of Section 5233 of the Public Benefit Corporation Law.”

“The membership of the board will include the Rector of St. Margaret's Church and three members of the Protestant Episcopal Church that are designated by the Vestry of St. Margaret's Church in consultation with the Rector and the existing members of the board.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.”

“Every year each trustee is given the current revision of the trustee code of ethics and conduct, which spells out the requirements to disclose conflicts whenever they occur. They are required, each year, to sign a copy of the code acknowledging that they have read and understand the document. These are filed with the CFOO's office.”

“The compensation committee of the board of directors utilizes a 3rd party service to establish the Head of School's compensation package. This outside service relies in part on an index that includes other organizations of similar size and purpose. Once the employment contract has been approved by the committee, it goes to the executive committee for final approval. The outcome of the process is documented in board minutes as well as a signed contract.”

“Compensation and benefits for other officers and key employees is determined by the Head of School, CFOO and Human Resources Director. In making the determination, they consult input from a 3rd party compensation service that includes organizations of similar size and purpose. The results are documented in employment contracts saved in each person's personnel file.”

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

“Other program revenue - Total Revenue: 446099, Related or Exempt Function Revenue: 446099, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Misc Revenue - Total Revenue: 156, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 156;”

“(Expenses $ 232,252 including grants of $)(Revenue $ 152,945) Wee Tartan Daycare Center provides both fulltime and parttime daycare services for up to fifteen employees who have infants from three months old up to three years old.”

“(Expenses $ 172,183 including grants of $)(Revenue $ 92,857) Special camp: Special camp is a summer program run by the school for special needs persons open to the public.”

“Change in fair value of interest rate swap - 74128;”