2026-04-10T14:14:27-05:00 2025-06-30 135565207 KPMG LLP 401 UNION STREET SUITE 2800 SEATTLE WA 98101 990 2024-07-01 510255746 TAIPEI AMERICAN SCHOOL FOUNDATION TAIP 3102013584 1900 AVE OF THE STARS 7FL LOS ANGELES CA 90067 DAVID FRANKENBERG HEAD OF SCHOOL 3102013584 2026-04-10 1 0 KATHRYN OKIMOTO P00746598 2069134000 2026-04-08 2024 2025-03-06 01:10:19Z TAIPEI AMERICAN SCHOOL DAVID FRANKENBERG 1900 AVE OF THE STARS 7FL LOS ANGELES CA 90067 94801953 0 X WWW.TAS.EDU.TW X 1971 DE TAIPEI AMERICAN SCHOOL'S MISSION IS TO CULTIVATE AN ENDURING COMMITMENT TO LEARNING, PERSONAL WELL-BEING, AND SERVICE. TAS PROVIDES A BROAD AMERICAN-BASED EDUCATION WITH A GLOBAL PERSPECTIVE THAT DEVELOPS STUDENTS OF CHARACTER WHO ARE COMMITTED TO MAKING THE WORLD A BETTER PLACE. 13 13 630 200 0 0 1891914 1456273 75552369 85491427 2075164 3009241 5374064 4622240 84893511 94579181 86643 100163 0 0 58306680 64601084 0 0 980482 18939744 25795840 77333067 90497087 7560444 4082094 197711018 220862395 59675289 63904554 138035729 156957841 X TAIPEI AMERICAN SCHOOL'S MISSION IS TO CULTIVATE AN ENDURING COMMITMENT TO LEARNING, PERSONAL WELL-BEING, AND SERVICE. TAS PROVIDES A BROAD AMERICAN-BASED EDUCATION WITH A GLOBAL PERSPECTIVE THAT DEVELOPS STUDENTS OF CHARACTER WHO ARE COMMITTED TO MAKING THE WORLD A BETTER PLACE. 0 0 75306540 100163 85491427 TAIPEI AMERICAN SCHOOL PROVIDES A FULL EDUCATION PROGRAM (PRE-KINDERGARTEN - GRADE 12) TO 2,371 STUDENTS FROM 38 COUNTRIES. THROUGH INSTRUCTION THAT IS AS JOYFUL AS IT IS CHALLENGING, STUDENTS DISCOVER THEIR UNIQUE POTENTIAL AND EMERGE WITH THE COURAGE AND CHARACTER TO CHANGE THE WORLD FOR THE BETTER. TAS'S SCHOOLWIDE LEARNING OUTCOMES OUTLINE THE FOUNDATIONAL SKILLS AND VALUES EACH STUDENT SHOULD ACQUIRE AND EMBODY THROUGHOUT THEIR EDUCATIONAL JOURNEY. THESE OUTCOMES SERVE AS A COMPASS, ENSURING STUDENTS DEVELOP HOLISTICALLY, EXCELLING ACADEMICALLY AND PERSONALLY WITHIN A GLOBAL CONTEXT. 75306540 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 44 0 1 630 1 0 1 TW 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X CATHY C HSU 8862775099 800 ZHONGSHAN N RD SECTION 6 TAIPEI TW 11152 MICHAEL FEI BOARD OF DIRECTORS 4.00 X 0 0 0 SHELLEY CHIA BOARD OF DIRECTORS 4.00 X 0 0 0 LARRY WASYLIN BOARD OF DIRECTORS 4.00 X 0 0 0 STEVE C QUAY BOARD OF DIRECTORS 4.00 X 0 0 0 JOHN CHEN BOARD OF DIRECTORS 4.00 X 0 0 0 AMY HSU BOARD OF DIRECTORS 4.00 X 0 0 0 PAUL HSU BOARD OF DIRECTORS 4.00 X 0 0 0 JOHN MORGAN BOARD OF DIRECTORS SINCE 5/16/25 4.00 X 0 0 0 BRIAN MANN BOARD OF DIRECTORS SINCE 6/07/25 4.00 X 0 0 0 ERICH KUSS BOARD OF DIRECTORS TILL 5/15/25 4.00 X 0 0 0 GRACE LEE CHAIR, BOD 4.00 X X 0 0 0 LYDIA LIM VICE CHAIR, BOD 4.00 X X 0 0 0 BRUCE AITKEN M&R CHAIR, BOD 4.00 X X 0 0 0 JAY CHENG SECRETARY, BOD 4.00 X X 0 0 0 DAVID FRANKENBERG HEAD OF SCHOOL SINCE 7/1/2024 40.00 X 378668 0 100431 MAX GYGAX CHIEF FINANCIAL OFFICER SINCE 7/1/24 40.00 X 156627 0 19102 LIZ GALE DEPUTY HEAD OF SCHOOL 40.00 X 281942 0 67088 LARRY KRAUT CHIEF OPERATING OFFICER 40.00 X 263766 0 36839 CAROLINE BAUGH CHIEF ADV & EXT RELATIONS OFFICER 40.00 X 257549 0 37584 TARA SIMEONIDIS LS PRINCIPAL 40.00 X 223695 0 32147 JOSH BUDDE MS PRINCIPAL 40.00 X 221415 0 33315 CATHY C HSU CONTROLLER 40.00 X 213584 0 34802 BECKY READ US PRINCIPAL 40.00 X 214099 0 27528 MATT FAGEN K-12 TECH CUBE DIRECTOR 40.00 X 161595 0 69539 BECKY KLAR LS ASSOCIATE PRINCIPAL 40.00 X 152365 0 71852 LEANNE STANLEY-RAINBOW DIR. OF EDUCATIONAL TECHNOLOGY 40.00 X 174712 0 18224 CAROL CHEN HUMAN RESOURCES DIRECTOR 40.00 X 163385 0 23457 EVELYN CHEN US ASSOCIATE PRINCIPAL 40.00 X 154292 0 25372 AMANDA JACOB DIR. OF TEACHING & LEARNING 40.00 X 157367 0 20480 RICK RABON LS ASSOCIATE PRINCIPAL 40.00 X 150804 0 20272 SHANE LAWSON TEACHER 40.00 X 193728 0 81210 ALLAN BAYNTUN TEACHER 40.00 X 150549 0 84114 CARL LOCHRIN TEACHER 40.00 X 174177 0 22016 LORI RICHARDSON GARCIA MS ASSOCIATE PRINCIPAL 40.00 X 147028 0 25243 MELANIE HAMRE US DIR OF COLLEGE COUNSELING 40.00 X 148357 0 21410 EVELYNE ESTEY FORMER HEAD OF SCHOOL 40.00 X 393969 0 38678 4533673 0 910703 198 1 1 0 0 40503 1415770 1456273 INSTRUCTIONAL PROGRAMS 900099 85359382 85359382 USE OF SCHOOL FACILITY 900099 132045 132045 85491427 3027086 3027086 1985 19830 -17845 -17845 -17845 316744 202942 113802 113802 CAFETERIA SERVICE 900099 2402323 2402323 STUDENT BUS 480000 1821382 1821382 75TH CELEBRATION 900099 72990 72990 211743 211743 4508438 94579181 85491427 0 7631481 100163 100163 4853780 1660968 2854579 338233 38336431 35458463 2592850 285118 3531587 3265443 241141 25003 15871681 15067015 721990 82676 2007605 1948404 59201 196809 196809 85362 85362 1130549 1130549 119934 7459 112475 830567 243713 530435 56419 1074859 1074859 3868349 3577946 261632 28771 965095 555657 409438 498451 281004 215004 2443 112716 112716 6634735 6136656 448735 49344 310536 310536 FOREIGN EXCHANGE LOSS 3696769 3696769 CO-CURRICULAR ACT. 1619124 1619124 TEXTBOOKS/TEACHING MAT. 1389755 1389755 CAFETERIA SERVICE COST 1151657 1151657 2110573 1465177 645396 90497087 75306540 14210065 980482 3358 3604 136624833 153598287 1288386 1944627 250858 440239 121782 130579 1295455 1809543 122785755 63213070 54151742 59572685 696456 771331 3278148 2591500 197711018 220862395 8940450 9484517 40682268 44509681 5034477 5039470 5018094 4870886 59675289 63904554 X 127267319 144748160 10768410 12209681 138035729 156957841 197711018 220862395 X 4082094 14840018 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 53357903 42571 1825794 -2748295 57974563 53158980 84617 1432780 1318474 53357903 53306602 1054010 742998 1944630 53158980 54026791 1679510 206378 -336474 2942551 53306602 48998556 1494422 227758 -358938 -2947117 54026791 0.96922 0.03078 0 0 54790176 20373494 34416682 55648138 36734727 18913411 12347441 6104849 6242592 59572685 OPERATING LEASE OBLIGATIONS 2028363 ASSET RETIREMENT OBLIGATIONS 1676427 STUDENT CLUBS PAYABLES 1166096 4870886 X 94801953 222772 222772 94579181 0 94579181 90719859 222772 222772 90497087 0 90497087 PART V, LINE 4: ENDOWMENT FUNDS INCLUDE QUASI-ENDOWMENT FUND AND EMERGENCY RESERVE FUND. QUASI-ENDOWMENT FUND IS A RESERVE THAT PROTECTS THE SCHOOL AGAINST UNEXPECTED EVENTS, AND PROVIDES FUNDING FOR THE CURRENT OPERATION, IF NEEDED. EMERGENCY RESERVE FUND IS A RESERVE SET ASIDE FOR EMERGENCY SUPPORT OF OPERATIONS SHOULD THE SCHOOL BE TEMPORARILY OR PERMANENTLY CLOSED BY ORDER OF R.O.C. GOVERNMENT OR THE BOARD OF DIRECTORS AS A RESULT OF A FORCE MAJEURE SITUATION, NATURAL DISASTERS THAT HAVE A MAJOR IMPACT ON THE SCHOOL OR ANY OTHER EMERGENCIES ISSUES RESULTING IN ECONOMIC DISTRESS. PART X, LINE 2: THE SCHOOL BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS IN THE U.S.A, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF ASSETS SOLD 19,830. STUDENT STORE COST OF GOODS SOLD 202,942. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF ASSETS SOLD 19,830. STUDENT STORE COST OF GOODS SOLD 202,942. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S RACIALLY NONDISCRIMINATORY POLICY IS AVAILABLE ON THE SCHOOL'S WEBSITE AND ON SCHOOL PUBLICATIONS. SCHEDULE E, PART I, LINE 6 AMERICAN INSTITUTE IN TAIWAN HAS PROVIDED SPECIAL GRANTS IN THE AMOUNT OF $40,503 IN 2024 TO SUPPORT EDUCATIONAL PROGRAMS AND ADMINISTRATOR AND FACULTY PROFESSIONAL DEVELOPMENT. 1 EAST ASIA AND THE PACIFIC 1 630 PROGRAM SERVICES K-12 EDUCATION 90396924 EAST ASIA AND THE PACIFIC 0 0 GRANT MAKING 100163 1 630 0 0 1 630 90497087 0 90497087 SCHOLARSHIPS EAST ASIA AND THE PACIFIC 5 100163 BANK TRANSFER 0 0 0 0 0 0 PART I, LINE 2: THE SCHOOL HAS WRITTEN PROCEDURES FOR AWARDING SCHOLARSHIP GRANTS. THIS PROCEDURE CLEARLY OUTLINES THE SCHOLARSHIP COMMITTEE MEMBERS' AUTHORITY AND SELECTION PROCESS OF COMMITTEE MEMBERS. PART I, LINE 3: THE SCHOOL HAS USED ACCRUAL METHOD OF ACCOUNTING FOR EXPENDITURES. PART II, LINE 1 ACCOUNTING METHOD: THE SCHOOL HAS USED ACCRUAL METHOD OF ACCOUNTING FOR FOREIGN GRANTS TO INDIVIDUALS. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DAVID FRANKENBERG HEAD OF SCHOOL SINCE 7/1/2024 232500 0 0 0 146168 0 34750 0 65681 0 479099 0 0 0 EVELYNE ESTEY FORMER HEAD OF SCHOOL 216516 0 78500 0 98953 0 31441 0 7237 0 432647 0 0 0 LIZ GALE DEPUTY HEAD OF SCHOOL 234391 0 0 0 47551 0 21826 0 45262 0 349030 0 0 0 LARRY KRAUT CHIEF OPERATING OFFICER 206589 0 0 0 57177 0 20659 0 16180 0 300605 0 0 0 CAROLINE BAUGH CHIEF ADV & EXT RELATIONS OFFICER 218878 0 0 0 38671 0 21888 0 15696 0 295133 0 0 0 SHANE LAWSON TEACHER 98803 0 0 0 94925 0 8803 0 72407 0 274938 0 0 0 TARA SIMEONIDIS LS PRINCIPAL 182109 0 0 0 41586 0 18140 0 14007 0 255842 0 0 0 JOSH BUDDE MS PRINCIPAL 179626 0 0 0 41789 0 17892 0 15423 0 254730 0 0 0 CATHY C HSU CONTROLLER 195683 0 0 0 17901 0 19568 0 15234 0 248386 0 0 0 BECKY READ US PRINCIPAL 178922 0 0 0 35177 0 17892 0 9636 0 241627 0 0 0 ALLAN BAYNTUN TEACHER 105361 0 0 0 45188 0 9443 0 74671 0 234663 0 0 0 MATT FAGEN K-12 TECH CUBE DIRECTOR 129251 0 0 0 32344 0 8803 0 60736 0 231134 0 0 0 BECKY KLAR LS ASSOCIATE PRINCIPAL 112431 0 0 0 39934 0 11243 0 60609 0 224217 0 0 0 CARL LOCHRIN TEACHER 88029 0 0 0 86148 0 8803 0 13213 0 196193 0 0 0 LEANNE STANLEY-RAINBOW DIR. OF EDUCATIONAL TECHNOLOGY 140239 0 0 0 34473 0 11964 0 6260 0 192936 0 0 0 CAROL CHEN HUMAN RESOURCES DIRECTOR 163385 0 0 0 0 0 16338 0 7119 0 186842 0 0 0 EVELYN CHEN US ASSOCIATE PRINCIPAL 117900 0 0 0 36392 0 11130 0 14242 0 179664 0 0 0 AMANDA JACOB DIR. OF TEACHING & LEARNING 144598 0 0 0 12769 0 14460 0 6020 0 177847 0 0 0 MAX GYGAX CHIEF FINANCIAL OFFICER SINCE 7/1/24 113859 0 0 0 42768 0 11427 0 7675 0 175729 0 0 0 LORI RICHARDSON GARCIA MS ASSOCIATE PRINCIPAL 111296 0 0 0 35732 0 11129 0 14114 0 172271 0 0 0 RICK RABON LS ASSOCIATE PRINCIPAL 118023 0 0 0 32781 0 11756 0 8516 0 171076 0 0 0 MELANIE HAMRE US DIR OF COLLEGE COUNSELING 125348 0 0 0 23009 0 8803 0 12607 0 169767 0 0 0 PART I, LINE 1A THE SCHOOL PROVIDES LIVELIHOOD SUPPLEMENTS WHICH INCLUDE HOUSING ALLOWANCES TO OVERSEAS HIRED FACULTY AND ADMINISTRATORS TO SUPPLEMENT A PORTION OF HIS OR HER LIVING EXPENSES IN TAIWAN. EIGHTEEN PERSONS, INCLUDING TWELVE KEY EMPLOYEES, ONE OFFICER AND FIVE HIGHEST COMPENSATED EMPLOYEES LISTED ON PART II RECEIVED THE LIVELIHOOD SUPPLEMENTS DURING THE YEAR. THE LIVELIHOOD SUPPLEMENTS ARE REPORTED AS TAXABLE COMPENSATION. THE HEAD OF SCHOOL'S MONTHLY DUES OF AMERICAN CLUB IN TAIPEI ARE REIMBURSED BY THE SCHOOL. THE SCHOOL ALSO REIMBURSES THE INITIATION FEE FOR TWO ADMINISTRATORS TO JOIN THE AMERICAN CLUB IN TAIPEI. THE CLUB DUES AND INITIATION FEE ARE CONSIDERED REASONABLE BUSINESS EXPENSES AND THUS NOT REPORTED AS TAXABLE COMPENSATION. DAVID FRANKENBERG, HEAD OF SCHOOL, RECEIVED A HOUSING ALLOWANCE TO ARRANGE HIS OWN RENTAL ACCOMMODATION RATHER THAN OCCUPYING SCHOOL-PROVIDED HOUSING. THE FULL AMOUNT OF THE ALLOWANCE IS TREATED AS TAXABLE COMPENSATION AND REPORTED ON SCHEDULE J, PART II, AND COLUMN (B)(III). EVELYNE ESTEY, FORMER HEAD OF SCHOOL, RECEIVED A HOUSING ALLOWANCE OF $25,536 FOR HER PERSONAL RENTAL ACCOMMODATION, CASHABLE LEAVE OF $60,802, AND HOUSEHOLD SHIPMENT BENEFITS OF $12,615. THESE AMOUNTS ARE TREATED AS TAXABLE INCOME AND REPORTED ON SCHEDULE J, PART II, AND COLUMN (B)(III). FORM 990, PART VI, SECTION A, LINE 4 ORGANIZATIONAL DOCUMENT CHANGES DURING THE REPORTING PERIOD, THE BOARD OF DIRECTORS APPROVED AMENDMENTS TO THE CERTIFICATE OF INCORPORATION AND BYLAWS TO UPDATE THE DIRECTOR REMOVAL PROVISIONS TO CLARIFY THAT DIRECTORS MAY BE REMOVED BY THE BOARD OF DIRECTORS IN ACCORDANCE WITH DELAWARE LAW. FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL SHALL HAVE TWO CLASSES OF MEMBERSHIP, GENERAL MEMBERS AND SPECIAL MEMBERS. EACH PARENT OF A STUDENT AT ANY TIME THEN CURRENTLY ENROLLED IN THE SCHOOL SHALL AUTOMATICALLY BECOME A GENERAL MEMBER. EACH PERSON ELECTED OR APPOINTED TO SCHOOL BOARD OF DIRECTORS (INCLUDING BOTH ELECTED DIRECTORS AND APPOINTED DIRECTORS) SHALL AUTOMATICALLY BE A SPECIAL MEMBER, UNTIL SUCH STATUS IS TERMINATED. STATUS AS A SPECIAL MEMBER SHALL NOT AFFECT AN INDIVIDUAL STATUS AS A GENERAL MEMBER, IF ANY. AT ANY MEETING OF THE GENERAL MEMBERS OR SPECIAL MEMBERS, EACH MEMBER PRESENT, IN PERSON OR BY PROXY, WILL BE ENTITLED TO ONE (1) VOTE. FORM 990, PART VI, SECTION A, LINE 7A AT ALL TIMES THE BOARD OF DIRECTORS SHALL BE COMPRISED OF A MINIMUM OF NINE (9) AND A MAXIMUM OF FOURTEEN (14) INDIVIDUALS AS FOLLOWS: (A) A MINIMUM OF SEVEN (7) AND A MAXIMUM OF NINE (9) INDIVIDUALS ELECTED BY THE GENERAL MEMBERS (B) A MINIMUM OF TWO (2) AND A MAXIMUM OF FIVE (5) INDIVIDUALS APPOINTED BY THE SPECIAL MEMBERS. ONE (1) OF SUCH APPOINTED DIRECTOR SEATS SHALL BE RESERVED FOR AN EMPLOYEE OF THE AMERICAN INSTITUTE IN TAIWAN (AIT). THE AIT REPRESENTATIVE DIRECTOR SHALL BE AN APPOINTED DIRECTOR WITH ALL OF THE SAME RIGHTS, DUTIES, AND OBLIGATIONS AS THE OTHER DIRECTORS. THE ELECTED DIRECTORS SHALL BE ELECTED FROM TIME TO TIME BY A MAJORITY VOTE OF THE GENERAL MEMBERS OF THE SCHOOL, FOLLOWING THE NOMINATION PROCEDURES PROVIDED IN SECTION 5 OF THE ARTICLE. EACH FULL TERM OF AN ELECTED DIRECTOR SHALL BE THIRTY-SIX (36) MONTHS. THE APPOINTED DIRECTORS SHALL BE APPOINTED FROM TIME TO TIME BY A TWO-THIRDS (2/3) VOTE OF THE SPECIAL MEMBERS. EACH FULL TERM OF AN APPOINTED DIRECTOR SHALL BE FORTY-EIGHT (48) MONTHS. FORM 990, PART VI, SECTION A, LINE 7B ALONGSIDE THE GOVERNING BODY, THE GENERAL MEMBERS SHALL HAVE RIGHTS (GOVERNANCE DECISIONS) IN THEIR CAPACITY AS MEMBERS (I) THE RIGHT TO VOTE ON ADOPTION, AMENDMENT, OR REPEAL OF BYLAWS BY THE MEMBERS AS PROVIDED IN ARTICLE VIII, SECTION 3; AND (II) OTHER VOTING RIGHTS REQUIRED BY THE DELAWARE GENERAL CORPORATION LAW. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM AS WELL AS THE CHIEF FINANCIAL OFFICER AND CONTROLLER OF THE ORGANIZATION. A REDACTED VERSION OF THE FORM 990, WHICH DID NOT INCLUDE THE DONORS' NAMES AS SOME DONORS REQUESTED TO REMAIN ANONYMOUS, WAS THEN PROVIDED TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS IS THE AUTHORIZED BODY EMPOWERED TO REVIEW AND APPROVE CONFLICT OF INTEREST TRANSACTIONS. COVERED PERSONS INTERESTED IN A TRANSACTION WITH TAS SHALL PROMPTLY ADVISE AND DISCLOSE ALL MATERIAL FACTS TO THE AUTHORIZED BODY, WHICH SHALL DETERMINE (A) WHETHER A CONFLICT EXISTS AND, IF SO (B) WHETHER IT IS PROPER LEGALLY AND ETHICALLY TO ENTER INTO THE TRANSACTION. EACH COVERED PERSON SHALL ANNUALLY SIGN A STATEMENT THAT (A) THE PERSON HAS RECEIVED A COPY OF THIS POLICY, HAS READ AND UNDERSTOOD IT, AND HAS AGREED TO COMPLY WITH IT; AND (B) IF REQUIRED, DISCLOSES THE PERSON'S FINANCIAL INTERESTS AND FAMILY RELATIONSHIPS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. TAS SHALL ANNUALLY REVIEW DISCLOSURE FORMS SUBMITTED AND MONITOR COMPLIANCE WITH THIS POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS, NONE OF WHOM HAD A CONFLICT OF INTEREST, EVALUATED THE HEAD OF SCHOOL'S COMPENSATION DURING THE TAX YEAR. THE SALARY ADJUSTMENT, IF ANY, WAS REVIEWED BY THE COMPENSATION COMMITTEE WHICH CONSISTS OF THE BOARD CHAIR, VICE CHAIR, SECRETARY, THE GOVERNANCE COMMITTEE CHAIR AND THE M&R (MANAGEMENT & RESOURCES) COMMITTEE CHAIR. IT WAS THEN APPROVED BY THE FULL BOARD OF DIRECTORS BEFORE BECOMING PART OF THE BUDGET. THE EVALUATION CONSIDERED BENCHMARKING DATA FROM COMPARABLE SCHOOLS IN THE EARCOS REGION AND THE HEAD OF SCHOOL'S COMPENSATION AS DISCLOSED IN FORMS 990 OF SIMILARLY SIZED PRIVATE SCHOOLS. THE COMMITTEE'S DISCUSSIONS AND DELIBERATIONS WERE CONTEMPORANEOUSLY DOCUMENTED. THE LAST COMPENSATION REVIEW FOR THE HEAD OF SCHOOL OCCURRED IN MAY 2025. FORM 990, PART VI, SECTION B, LINE 15B: THE COMPENSATION OF ADMINISTRATORS, INCLUDING THE TOP FINANCIAL OFFICIAL (CHIEF FINANCIAL OFFICER), IS DETERMINED BY THE HEAD OF SCHOOL UPON INITIAL HIRE USING BENCHMARK DATA FROM SIMILARLY SIZED OVERSEAS SCHOOLS. PERIODIC COMPENSATION REVIEWS ARE CONDUCTED USING COMPARABLE INSTITUTIONS TO ENSURE CONTINUED MARKET ALIGNMENT. ANY SALARY ADJUSTMENTS ARE APPROVED BY THE HEAD OF SCHOOL AND PROVIDED TO THE HUMAN RESOURCES AND CONTROLLER'S OFFICES FOR INCLUSION IN THE ANNUAL BUDGET CYCLE, WHICH IS SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 TAS POLICY MANUAL INCLUDING GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY IS AVAILABLE AT SECURED SCHOOL PORTALS. THE AUDITED FINANCIAL STATEMENTS ARE NOT OPEN TO THE PUBLIC UNLESS THE REQUEST IS APPROVED BY TAS AUTHORIZED PERSONS. FORM 990, PART XI, LINE 9: CURRENCY EXCHANGE GAIN 14,840,018. FORM 990, GENERAL EXPLANATION ATTACHMENT: STATE OF LEGAL DOMICILE (ITEM M), THE SCHOOL IS LOCATED IN 800 ZHONGSHAN N. RD., SEC. 6, TAIPEI, TAIWAN ROC 11152 (TW). TOTAL NUMBER OF EMPLOYEES (PART I, LINE 5), 630 EMPLOYEES INCLUDED 248 U.S. EMPLOYEES AND 382 NON-U.S. EMPLOYEES AS OF DECEMBER 31, 2024. THE STATES WITH WHICH A COPY OF THIS FORM 990 IS REQUIRED TO BE FILED (PART VI, LINE 17), THE SCHOOL IS NOT REQUIRED TO FILE FORM 990 IN ANY STATE. STATE THE NAME, PHYSICAL ADDRESS, AND TELEPHONE NUMBER OF THE PERSON WHO POSSESSES THE BOOKS AND RECORDS OF THE ORGANIZATION (PART VI, LINE 20), CATHY HSU, CONTROLLER, TAIPEI AMERICAN SCHOOL FOUNDATION, 800 ZHONGSHAN N. RD., SEC. 6, TAIPEI, TAIWAN ROC 11152, +886-2-7750-9900 EXT. 332. DUE TO SOFTWARE LIMITATIONS, THE TAIWAN TELEPHONE NUMBER DOES NOT APPEAR ON PART VI, LINE 20.