Parker School

“The finance committee of the board of directors reviews the working drafts of the form 990, which are completed by the school's auditors and chief financial officer. The finance committee is responsible for coordinating the provision of any governance-related and policy-related components/requirements of the return. Upon satisfactory completion of the form 990, prior to filing with the irs, the finance committee electronically distributes such draft to the full board of directors for its review. The form 990 is signed by the treasurer of the board or an officer, and then filed with the irs. The annual tax return process is completed no later than the last available irs filing date. Any necessary applications for extension of time to file are completed by the auditors or by the chief financial officer and filed within all applicable deadlines.”

“The school's conflict of interest policy sets forth the processes and procedures for monitoring proposed or ongoing transactions for conflicts of interest and dealing with potential and actual conflicts. Officers, directors and key employees are required annually to review and certify their compliance with the school's conflict of interest policy. Further, under the conflict of interest policy, interested persons have an ongoing duty to disclose any actual or potential conflicts of interest. The board of directors is responsible for reviewing and determining whether a conflict of interest exists. In the event the conflict of interest involves a director, the director is required to recuse himself or herself from such discussions.”

“Beyond the basic benefits package made available to school employees, the headmaster's compensation for the subsequent fiscal year is established at the conclusion of the performance review process in the spring. The headmaster performance review committee of the board of directors, in consultation with the chair of the finance committee, makes a compensation recommendation to the board based on the following: (a) the headmaster's performance during the last fiscal year; (b) available data regarding headmaster compensation in comparable schools, regionally and nationally; and (c) a review of the compensation of other members of the school's administrative team. Final approval of the headmaster's compensation is made by the school's board of directors, which is determined and communicated to the headmaster before the new fiscal year begins. A letter documenting the process and stating the compensation is drafted by the headmaster compensation committee, and delivered to the business office for the personnel file. This process was last undertaken during the fiscal year 2015 - 2016.”

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

“Loss on beneficial interest in park ranch foundation trust -387,889.”