2024-03-18T11:44:39-05:00 2023-06-30 946214841 ARMANINO LLP 2700 CAMINO RAMON STE 350 SAN RAMON CA 945835004 990 2022-07-01 750800650 HOCKADAY SCHOOL HOCK 2143636311 11600 WELCH RD DALLAS TX 75229 KATHRYN LETO CFO 2143606505 2024-05-15 1 KATHRYN LETO 999009999 1 MATTHEW PETROSKI P00853132 9257902600 2024-03-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z NICOLE GINSBERG SMALL 11600 WELCH RD DALLAS TX 75229 115035947 0 X WWW.HOCKADAY.ORG X 1913 TX THE HOCKADAY SCHOOL, FOUNDED IN 1913, PROVIDES A COLLEGE PREPARATORY EDUCATION FOR GIRLS OF STRONG POTENTIAL WHO MAY BE EXPECTED TO ASSUME POSITIONS OF LEADERSHIP. 44 44 522 1184 83562 65929 18901359 9617584 39289744 41218040 1706372 3920284 1383987 1033657 61281462 55789565 3132406 2919804 0 0 30875090 28793344 0 0 2556669 18219017 19784452 52226513 51497600 9054949 4291965 327432445 346432014 53729595 55297349 273702850 291134665 BELIEVING IN THE LIMITLESS POTENTIAL OF GIRLS, HOCKADAY SCHOOL DEVELOPS RESILIENT, CONFIDENT WOMEN WHO ARE EDUCATED AND INSPIRED TO LEAD LIVES OF PURPOSE AND IMPACT. 0 0 41448616 2919804 41768870 THE SCHOOL PROVIDED A COLLEGE PREPARATORY EDUCATION FOR LOWER, MIDDLE, AND UPPER SCHOOL GIRLS WITH STRONG POTENTIAL WHO MAY BE EXPECTED TO ASSUME POSITIONS OF RESPONSIBILITY AND LEADERSHIP IN LATER YEARS. THERE WERE 1,088 DAY STUDENTS AND 24 RESIDENCE STUDENTS FOR THE 2022-2023 ACADEMIC YEAR. IN ADDITION, THE SCHOOL PROVIDED EDUCATIONAL PROGRAMS IN THE SUMMER AND AFTER SCHOOL. 41448616 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 128 0 1 522 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 44 44 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CO DC MD MA MI NH NV NY OH OK OR SC WA WI X KATHRYN LETO CFO 2143636311 11600 WELCH ROAD DALLAS TX 75229 DR KAREN COLEMAN FORMER HEAD OF SCHOOL (THRU 6/30/22) 50.00 X 1193536 0 30912 DR LAURA LEATHERS HEAD OF SCHOOL (AS OF 1/1/23) 50.00 X 386772 0 64031 JESSICA EPPERSON DIR OF DEVELOPMENT & STRATEGIC INITIATIVE 50.00 X 222704 0 88658 RANDALL RHODUS HEAD OF LOWER SCHOOL 50.00 X 176180 0 96290 KATHRYN LETO CHIEF FINANCIAL OFFICER 50.00 X 229586 0 25104 LISA CULBERTSON HEAD OF UPPER SCHOOL 50.00 X 196980 0 40755 AMY WINTERMEYER ASST. HOS FOR SE (THRU 6/30/22) 50.00 X 218179 0 15648 JOAN GUZMAN CHIEF OPERATIONS OFFICER 50.00 X 196595 0 25277 NICOLE GINSBURG SMALL CHAIR 15.00 X X 0 0 0 DR NEELESH MEHENDALE VICE CHAIR 5.00 X X 0 0 0 ELIZABETH CULLUM HELFRICH EXECUTIVE COMMITTEE 5.00 X X 0 0 0 ANDREW HILL TREASURER 15.00 X X 0 0 0 ISABELL NOVAKOV HIGGINBOTHAM SECRETARY 3.00 X X 0 0 0 KATHRYN WALKER FRANCIS IMMEDIATE PAST CHAIR 5.00 X X 0 0 0 A SHONN BROWN CHAIR ELECT 5.00 X X 0 0 0 DR SULMAN AHMED TRUSTEE 3.00 X 0 0 0 WASAN ALFALAHI TRUSTEE 3.00 X 0 0 0 NANCY LIRA BERNARDINO TRUSTEE 3.00 X 0 0 0 LUCY BILLINGSLEY BURNS TRUSTEE 3.00 X 0 0 0 CARLA BOLDEN TRUSTEE 3.00 X 0 0 0 TAJ CLAYTON TRUSTEE 3.00 X 0 0 0 TRICIA DRUM DAVIDSON TRUSTEE 3.00 X 0 0 0 LANDY ELLIOT FOX TRUSTEE 3.00 X 0 0 0 HELEN HARRIS-ALLEN TRUSTEE 3.00 X 0 0 0 ELLEN HAYNES TRUSTEE 3.00 X 0 0 0 ARIANA VIROSLAV HELD TRUSTEE 3.00 X 0 0 0 SCOTT HARPER TRUSTEE 3.00 X 0 0 0 ABBY HOAK-MORTON TRUSTEE 3.00 X 0 0 0 COURTNEY JONES JOHNSON TRUSTEE 3.00 X 0 0 0 FALLYN GRAY JONES TRUSTEE 3.00 X 0 0 0 SABRINA KESSEE TRUSTEE 3.00 X 0 0 0 JUN II KWUN TRUSTEE 3.00 X 0 0 0 ANGELICA MARIN-HILL TRUSTEE 3.00 X 0 0 0 SCOTT MINNIX TRUSTEE 3.00 X 0 0 0 SHANKH MITRA TRUSTEE 3.00 X 0 0 0 GUADALUPE MORA-DUARTE TRUSTEE 3.00 X 0 0 0 MARISIA PARRA-GOANA TRUSTEE 3.00 X 0 0 0 KELSEY SWINGLE ROBERTSON TRUSTEE 3.00 X 0 0 0 DAVID A ROOSEVELT TRUSTEE 3.00 X 0 0 0 BETTY SCHULTZ TRUSTEE 3.00 X 0 0 0 MIGUEL SOLIS TRUSTEE 3.00 X 0 0 0 DR MICHAEL SORRELL TRUSTEE 3.00 X 0 0 0 CANDACE CAMPBELL SWANGO TRUSTEE 3.00 X 0 0 0 DAWNE TRIBOLET TRUSTEE 3.00 X 0 0 0 LINDA CUSTARD LIFE TRUSTEE 1.00 X 0 0 0 LYDA HILL LIFE TRUSTEE 1.00 X 0 0 0 JAMES M HOAK JR LIFE TRUSTEE 1.00 X 0 0 0 NATALIE HENDERSON LEE LIFE TRUSTEE 1.00 X 0 0 0 JANIE STRAUSS MCGARR LIFE TRUSTEE 1.00 X 0 0 0 ELLEN HIGGINBOTHAM ROGERS LIFE TRUSTEE 1.00 X 0 0 0 MARGOT PEROT LIFE TRUSTEE 1.00 X 0 0 0 RICHARD S ROGOFF LIFE TRUSTEE (LEFT 6/23) 1.00 X 0 0 0 BARNEY T YOUNG LIFE TRUSTEE (LEFT 5/23) 1.00 X 0 0 0 2820532 0 386675 39 1 1 0 MOSS & ASSOCIATES 2102 N ANDREWS AVE STE 300 FORT LAUDERDALE FL 33311 CONSTRUCTION 7371202 SAGE DINING SERVICES INC 1402 YORK RD LUTHERVILLE MD 21093 DINING SERVICES 2354199 HELLMUTH OBATA & KASSABAUM INC 3200 SOUTHWEST FREEWAY SUITE 900 HOUSTON TX 77027 ARCHITECT SERVICES 592573 SCHWARTZ HANNUM PC 11 CHESNUT STREET ANDOVER MA 01810 LEGAL AND CONSULTING 497686 PROCO ROOFING LLC 5112 COMMERCIAL DR NORTH RICHLAND HILLS TX 76180 CONSTRUCTION 490688 15 240887 9376697 355632 9617584 TUITION & FEES 611110 35180210 35180210 BOARDING & LUNCH 721310 3462370 3462370 EDUCATIONAL FEES 611110 2103117 2103117 EXTENDED SERVICES 611710 354410 354410 APPLICATIONS, SERVICE 900099 76305 76305 41628 41628 41218040 2383161 -14109 2397270 49658 24696 24962 24962 24962 59797608 11200 58271685 0 1525923 11200 1537123 80355 1456768 708205 240887 453898 254307 254307 58700 60000 -1300 -1300 555377 436103 119274 17316 101958 CHILD DEVELOPMENT CNTR 611110 550830 550830 PLAN REVENUE CREDIT 900099 43146 43146 MISC REWARDS & REBATES 900099 42438 42438 636414 55789565 41768870 83562 4319549 2793304 2793304 126500 126500 963872 963872 22071909 19469491 1536953 1065465 1387128 1223958 94331 68839 2805923 2382983 226341 196599 1564512 1351411 147000 66101 108807 108807 86700 86700 823251 823251 579979 569402 10577 441046 276803 164243 193316 121038 31444 40834 475217 475217 1243716 1057158 124372 62186 19918 9634 10284 398432 201675 155221 41536 416342 353891 41634 20817 4760866 4046736 476087 238043 699410 699410 INSTRUCTIONAL SUPPORT 5210331 5210331 MAINTENANCE & GROUNDS 1926354 1282578 198072 445704 SUMMER SCHOOL & CHILD D 1267296 1267296 RESIDENCE & ADMISSIONS 194153 65544 128609 939318 19505 794372 125441 51497600 41448616 7492315 2556669 1846 4939 65479981 44090352 5117437 6555909 424580 3190110 252965 283836 472198 479477 168948130 73505578 70969580 95442552 71457086 72661577 101878613 111238125 11378159 12485137 327432445 346432014 6432861 9444424 36236711 37226466 9009821 8044367 1400757 206757 649445 375335 53729595 55297349 X 108845641 117431067 164857209 173703598 273702850 291134665 327432445 346432014 X 4291965 13081084 58766 X 0 1 X 1 0 X 7304839 6239188 24210160 18901359 9617584 66273130 7304839 6239188 24210160 18901359 9617584 66273130 28641069 37632061 1078820 911771 1262416 922652 2432819 6608478 353826 275002 378822 608686 324763 1941099 499240 411377 408627 699181 640961 2659386 77482093 190897732 0.48570 0.43480 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS SALES OF INVENTORY - 2018 AMOUNT: $ 451,394. 2019 AMOUNT: $ 395,065. 2020 AMOUNT: $ 370,897. 2021 AMOUNT: $ 611,543. 2022 AMOUNT: $ 555,377. RECOVERY OF BAD DEBT - 2018 AMOUNT: $ 36,224. OTHER REVENUE - 2018 AMOUNT: $ 3,948. 2021 AMOUNT: $ 66,187. 2022 AMOUNT: $ 43,146. VENDING MACHINE REVENUE - 2019 AMOUNT: $ 6,671. CREDIT CARD REBATES - 2018 AMOUNT: $ 7,674. 2019 AMOUNT: $ 9,641. 2020 AMOUNT: $ 37,730. 2021 AMOUNT: $ 21,451. 2022 AMOUNT: $ 42,438. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 65000 882261 X 0 175402420 4899095 15088285 1774880 6570306 58766 186985848 191614736 1414258 -9795607 1639279 6167050 24638 175402420 156582237 1165452 41564544 1609654 6044578 43265 191614736 164093519 2860357 -2730058 1627641 5936007 77933 156582237 162907938 2305965 6433194 1590637 5940948 21993 164093519 0.26160 0.30460 0.43380 0 0 357723 357723 118095521 57745008 60350513 5174283 3865873 1308410 45320603 11894697 33425906 95442552 GLOBAL EQUITY 44443686 F ABSOLUTE RETURN 38657288 F PRIVATE EQUITY 17833364 F REAL ASSETS 10303787 F 111238125 ASSET RETIREMENT OBLIGATION 375335 375335 X 66406555 13081084 209437 974697 14265218 52141337 787190 2861038 3648228 55789565 48974740 209437 974697 1184134 47790606 787190 2919804 3706994 51497600 PART III, LINE 4: OVER A PERIOD OF TIME, THE SCHOOL HAS RECEIVED CONTRIBUTIONS OF WORKS OF ART AND FURNISHINGS TO BE EXHIBITED IN VARIOUS LOCATIONS ON THE CAMPUS. THESE ITEMS HAVE BEEN CAPITALIZED AS COLLECTIONS. THE COLLECTION NOT ONLY ENHANCES THE AESTHETIC ENVIRONMENT OF THE SCHOOL, IT SUPPORTS THE CURRICULUM OF THE SCHOOL BY MAKING ART AVAILABLE TO STUDENTS. THE COLLECTIONS ARE RECORDED AT APPRAISED VALUE WHEN DONATED. THE SCHOOL UNDERTAKES TO CARE FOR, PROTECT, AND PRESERVE SUCH CONTRIBUTED WORKS OF ART AND FURNISHINGS, AND THE BOARD HAS ADOPTED A POLICY TO USE PROCEEDS OF DEACCESSION OR INSURANCE RECOVERIES FOR THE SOLE PURPOSE OF ACQUISITION OF OTHER SUCH WORKS OF ART AND FURNISHINGS. COLLECTION ITEMS ARE INSPECTED PERIODICALLY AND CLEANED AND REPAIRED AS REQUIRED. PART V, LINE 4: THE SCHOOL MANAGES THE ENDOWMENT FUND TO PRESERVE THE REAL PURCHASING POWER FOR THE FUND WHILE PROVIDING A PREDICTABLE, STABLE, AND CONSTANT STREAM OF EARNINGS CONSISTENT WITH THE SCHOOL'S SPENDING NEEDS. THE ENDOWMENT INVESTMENT POLICY REDUCES THE ENDOWMENT DRAW SPENDING POLICY BY TEN BASIS POINTS EACH YEAR OVER A FIVE YEAR PERIOD: FROM 5.0% IN 2016 TO 4.5% IN 2021 AND REMAINS AT 4.5% FOR EACH YEAR THEREAFTER. ACCORDINGLY, THE CURRENT SPENDING POLICY FOR 2022 AND 2021 IS A MAXIMUM OF 4.5% OF A THREE-YEAR MOVING AVERAGE MARKET VALUE OF THE TOTAL ENDOWMENT FUND ASSETS WITH THE EXCEPTION OF A SPECIFIC ENDOWMENT WHICH HAS DONOR RESTRICTIONS LIMITING SPENDING TO 4.0%. THE ENDOWMENT FUND SUPPORTS THE GENERAL OPERATIONS OF THE SCHOOL INCLUDING FACULTY SALARIES, FACULTY/STAFF PROFESSIONAL DEVELOPMENT, STUDENT FINANCIAL AID, LIBRARY SERVICES, AND STUDENT PROGRAMS. PART X, LINE 2: THE SCHOOL IS A QUALIFIED ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SCHOOL HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF JUNE 30, 2023 AND 2022, THE SCHOOL DOES NOT HAVE ANY SIGNIFICANT TAX POSITIONS FOR WHICH A RESERVE WOULD BE CONSIDERED NECESSARY. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL ACTIVITY EXPENSES 24,696. FUNDRAISING EVENT EXPENSES 513,898. COST OF GOODS SOLD 436,103. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN VALUE IN SPLIT-INTEREST AGREEMENT -58,766. FINANCIAL AID 2,919,804. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL ACTIVITY EXPENSES 24,696. FUNDRAISING EVENT EXPENSES 513,898. COST OF GOODS SOLD 436,103. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,919,804. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLISHES ITS NONDISCRIMINATORY POLICY, WHICH INCLUDES RACIAL ASPECTS, IN THE EDUCATION ISSUE OF THE DALLAS MORNING NEWS AT LEAST TWICE ANNUALLY. IN ADDITION, THE POLICY IS PRINTED ON ALL ADMISSION MATERIALS. 0 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 32285000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING STUDENT FINANCIAL AID 68500 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING STUDENT FINANCIAL AID 58000 0 0 0 0 0 0 32411500 0 32411500 FINANCIAL AID/SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 2 58000 CREDIT APPLIED TO STUDENT ACCOUNT FMV FINANCIAL AID/SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 1 68500 CREDIT APPLIED TO STUDENT ACCOUNT FMV 1 0 1 1 1 0 PART I, LINE 2: GRANTS ARE GIVEN TO FOREIGN INDIVIDUALS FOR SCHOOLING IN THE U.S. THEREFORE, THE USE OF THE FUNDS IS WITH THE GRANTMAKING ORGANIZATION. PART III ACCOUNTING METHOD: HPA BENEFIT 949092 240887 708205 83979 6640 363279 949092 240887 708205 83979 6640 363279 453898 254307 58700 60000 1 0.75000 58700 60000 60000 -1300 TX 0 THE ONLY GAMING ACTIVITIES OF THE HOCKADAY SCHOOL ARE RAFFLES GOVERNED BY THE TEXAS CHARITABLE RAFFLE ENABLING ACT. THE SCHOOL ADHERES TO THIS ACT. 0 1 0 1.00000 KATHRYN LETO 11600 WELCH ROAD DALLAS TX 75229 0 ELIZA CAREY 200 PREPARE W-2G FORMS; SUPERVISE DEPOSITS AND AWARDS. X 0 1 FINANCIAL AID 140 2793304 FMV DIRECT CREDIT TO STUDENT ACCOUNT PART I, LINE 2: FINANCIAL ASSISTANCE IS AWARDED BASED ON FINANCIAL NEED. APPLICANTS PROVIDE DETAILED INCOME INFORMATION. A METHODOLOGY IS APPLIED TO DETERMINE NEED. THE FINANCIAL AID COMMITTEE (COMPRISED OF SCHOOL MANAGEMENT) ALLOCATES THE FINANCIAL AID RESOURCES BASED ON THE DETERMINED NEED. SCHOLARSHIPS ARE GIVEN TO STUDENTS AS A REDUCTION IN THEIR TUITION AND FEES. THE AID IS AWARDED OBJECTIVELY AND IN A NON-DISCRIMINATORY MANNER. X X 1 1 X X X 1 1 0 0 0 0 0 1 0 DR KAREN COLEMAN FORMER HEAD OF SCHOOL (THRU 6/30/22) 262674 0 0 0 930862 0 19005 0 11907 0 1224448 0 139456 0 DR LAURA LEATHERS HEAD OF SCHOOL (AS OF 1/1/23) 343241 0 40000 0 3531 0 21350 0 42681 0 450803 0 0 0 JESSICA EPPERSON DIR OF DEVELOPMENT & STRATEGIC INITI 219497 0 0 0 3207 0 16351 0 72307 0 311362 0 0 0 RANDALL RHODUS HEAD OF LOWER SCHOOL 172853 0 0 0 3327 0 15388 0 80902 0 272470 0 0 0 KATHRYN LETO CHIEF FINANCIAL OFFICER 226094 0 0 0 3492 0 16107 0 8997 0 254690 0 0 0 LISA CULBERTSON HEAD OF UPPER SCHOOL 194741 0 0 0 2239 0 14637 0 26118 0 237735 0 0 0 AMY WINTERMEYER ASST. HOS FOR SE (THRU 6/30/22) 132700 0 0 0 85479 0 9539 0 6109 0 233827 0 0 0 JOAN GUZMAN CHIEF OPERATIONS OFFICER 193731 0 0 0 2864 0 13838 0 11439 0 221872 0 0 0 PART I, LINE 1A THE SCHOOL PROVIDES THE HEAD OF SCHOOL A DISCRETIONARY BUDGET FOR SCHOOL-RELATED EXPENSES. ALL EXPENSES RUN THROUGH THE NORMAL EXPENSE PROCESS AND REQUIRE THE APPROPRIATE SUBSTANTIATION. IRS INSTRUCTION TO FORM 990 REQUIRE THAT A HOUSING ALLOWANCE PROVIDED TO EMPLOYEES BY THEIR EMPLOYER BE REPORTED ON FORM 990, PART VII, SECTION A AND SCHEDULE J, PART II (WHETHER OR NOT THE VALUE IS DEEMED TAXABLE). THE FORMER HEAD OF SCHOOL RECEIVED A HOUSING ALLOWANCE PER CONTRACT ($60,000 DURING CALENDER YEAR 2022). THE SCHOOL HAS DETERMINED THAT THE HOUSING ALLOWANCE IS TAXABLE AND HAS BEEN REPORTED IN SCHEDULE J, PART II, COLUMN B (III). PART I, LINE 4A THE FORMER HEAD OF SCHOOL RECEIVED A SEVERANCE PAYMENT OF $671,720 DURING THE CALENDAR YEAR 2022. THE ASSISTANT HEAD OF SCHOOL FOR STUDENT EXPERIENCE RECEIVED A SEVERANCE PAYMENT $82,379 DURING THE CALENDAR YEAR 2022. PART I, LINE 4B THE FORMER HEAD OF SCHOOL PARTICIPATED IN A 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN OF THE SCHOOL. THE FORMER HEAD OF SCHOOL RECEIVED DISTRIBUTIONS OF $79,114 FROM THE 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN CALENDAR YEAR 2022. PART I, LINE 7 THE HEAD OF SCHOOL RECEIVED A DISCRETIONARY BONUS OF $40,000 DURING THE 2022 CALENDAR YEAR REPORTED IN PART II, COLUMN B(II). THE AMOUNT WAS DETERMINED BY THE COMPENSATION AND REVIEW COMMITTEE. A RED RIVER EDUCATION FINANCE CORPORATION 752791247 756872JV0 2015-04-23 15434976 CURRENT REFUNDING OF SER 2005 BOND 0 0 0 A 8149976 15434976 180283 15254693 2015 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 KEVIN LEATHERS SPOUSE OF OFFICER DR. LAURA LEATHERS 13980 EMPLOYMENT 0 X 11 79900 FMV X 40372 FMV X 1 60000 FMV X 16 126351 FMV X 1 600 FMV X 11 5905 FMV X SPECIAL EVENTS 21 42504 FMV 0 0 1 0 PART I, COLUMN (B): THIS NUMBER REPRESENTS THE NUMBER OF CONTRIBUTORS, NOT THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE OFFICERS OF THE BOARD, CHAIRS OF EACH STANDING COMMITTEE, AND UP TO FOUR AT-LARGE MEMBERS, AT THE DISCRETION OF THE APPOINTED CHAIR OF THE BOARD. THE BOARD DELEGATES TO THE EXECUTIVE COMMITTEE ALL POWERS AND DUTIES OF THE BOARD TO ACT ON BEHALF OF THE BOARD BETWEEN MEETINGS, EXCEPT THOSE THAT ARE EXPRESSLY RESERVED TO THE FULL BOARD. INCLUDED IN SUCH DELEGATED POWERS IS THE POWER TO ACT AS LIASON BETWEEN THE HEAD OF SCHOOL AND THE BOARD, TO COMPROMISE, SETTLE, AND DEFEND AGAINST ANY AND ALL DISPUTES, CLAIMS, AND LAWSUITS, SUBJECT TO THE POLICIES OF THE BOARD. SPECIFIC RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE INCLUDE BUT ARE NOT LIMITED TO: PROVIDING DIRECTION TO EACH BOARD COMMITTEE RELATIVE TO THEIR RESPONSIBILITY TO MONITOR THE SCHOOL'S PROGRESS IN THE EXECUTION OF THE STRATEGIC PLAN, REVIEWING ANNUAL GIALS FOR THE BOARD AND THE HEAD OF SCHOOL, MONITORING THE BOARDS PROGRESS TOWARDS ITS ANNUAL GOALS, MONITORING AND REVIEWING THE PROGRESS OF THE HEAD OF SCHOOL AGAINST ESTABLISHED GOALS, AND REVIEWING ALL POLICY RECOMMENDATIONS PRIOR TO THE PRESENTATION TO THE FULL BOARD. FORM 990, PART VI, SECTION A, LINE 2 LYDA HILL AND NICOLE GINSBERG SMALL HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE MANAGEMENT OF THE SCHOOL WITH THE ASSISTANCE OF ARMANINO LLP, INDEPENDENT TAX ADVISORS. THE FORM 990 AND ALL OF THE REQUIRED SCHEDULES ARE PRESENTED TO THE AUDIT & ETHICS COMMITTEE, CONSISTING OF NOT LESS THAN FOUR MEMBERS. THE AUDIT & ETHICS COMMITTEE THEN REVIEWS THE DRAFT FORM 990 WITH MANAGEMENT OF THE SCHOOL AND ARMANINO LLP. ONCE THE DRAFT IS FINALIZED, IT IS DISTRIBUTED TO THE BOARD MEMBERS VIA EMAIL PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY AND QUESTIONNAIRE ARE DISTRIBUTED TO THE BOARD OF TRUSTEES PRIOR TO THE MAY (FINAL) BOARD MEETING. THE CONFLICT OF INTEREST POLICY AND QUESTIONNAIRE ARE DISTRIBUTED TO THE LEADERSHIP TEAM DURING THE SAME TIME FRAME. THE LEADERSHIP TEAM IS EXPECTED TO ATTEND THE BOARD MEETINGS, BUT OCCASIONAL CONFLICTS DO OCCUR. THE QUESTIONNAIRES ARE RETURNED TO THE OFFICE OF THE CFO AND ARE REVIEWED FOR ANY CONFLICTS. IN ADDITION, THE DIRECTOR OF FINANCE AND THE CFO REVIEW THE FORMS AND DISCUSS OTHER POTENTIAL CONFLICTS. A SUMMARY OF SUCH CONFLICTS, IF ANY, IS PREPARED FOR DISCLOSURE ON THE FORM 990 AND IS REVIEWED BY THE AUDIT & ETHICS COMMITTEE. A PERSON FOUND TO HAVE A CONFLICT OF INTEREST SHALL NOT BE INVOLVED IN THE DISCUSSION OF OR VOTE ON THE TRANSACTION OR ARRANGEMENT GIVING RISE TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE SETS THE COMPENSATION FOR THE HEAD OF SCHOOL. THE COMPENSATION COMMITTEE IS COMPRISED OF THE CHAIR OF THE BOARD, THE CHAIR OF THE FINANCE AND ADMINISTRATION COMMITTEE, AND THE CHAIR OF THE BOARD GOVERNANCE AND LEADERSHIP COMMITTEE. THE COMPENSATION COMMITTEE IS DEEMED INDEPENDENT AS IT IS COMPRISED OF INDIVIDUALS UNRELATED TO AND NOT SUBJECT TO THE CONTROL OF THE HEAD OF SCHOOL. IN PREPARATION FOR THIS DECISION, A COMPENSATION COMPARISON IS PREPARED USING DATA FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS) AND THE INDEPENDENT SCHOOL DATA EXCHANGE (INDEX). DATA IS PULLED AND ANALYZED FOR A SET OF PREDETERMINED PEER SCHOOLS AND BENCHMARK SCHOOLS. THE COMPENSATION COMMITTEE THEN USES THIS INFORMATION TO NEGOTIATE THE CONTRACT FOR THE HEAD OF SCHOOL. THE HEAD OF SCHOOL SETS THE SALARIES OF THE LEADERSHIP TEAM (INCLUDING THE KEY EMPLOYEES AS WELL AS VARIOUS OTHER LEADERSHIP POSITIONS). HE OR SHE USES SIMILAR COMPARABLE DATA FROM NAIS TO DETERMINE SALARY LEVELS. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S GOVERNING DOCUMENTS. CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE IN SPLIT-INTEREST AGREEMENT 58,766. FORM 990, PART VII, COMPENSATION OF OFFICERS, DIRECTORS, TRUSTEES: DR. LAURA LEATHERS BECAME THE INTERIM HEAD OF SCHOOL FROM 7/1/22 THRU 12/31/22 AND WAS APPOINTED HEAD OF SCHOOL 1/1/23.