2024-05-15T13:04:33-05:00 2023-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2022-07-01 042103751 BUCKINGHAM BROWNE & NICHOLS SCHOOL BUCK 6175476100 80 GERRYS LANDING ROAD CAMBRIDGE MA 021385595 TARA GOHLMANN COO/CFO 6175476100 2024-05-14 1 TARA GOHLMANN 999009999 0 LYNNE JOHNSON P00757336 6179129000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR JENNIFER PRICE 80 GERRYS LANDING ROAD CAMBRIDGE MA 021385595 68637976 0 X WWW.BBNS.ORG X 1883 MA SEE SCHEDULE O 29 27 573 100 186372 0 12164564 5472359 55229514 57901523 3118195 1448596 0 0 70512273 64822478 10002143 10743092 0 0 37563675 39557253 0 0 2652867 15654407 17479834 63220225 67780179 7292048 -2957701 253630027 258855797 82014267 85154018 171615760 173701779 X SEE SCHEDULE O 0 0 54803820 10647676 55618993 BUCKINGHAM BROWNE & NICHOLS SCHOOL IS AN ACADEMICALLY EXCELLENT, DIVERSE, AND INCLUSIVE COMMUNITY WHERE STUDENTS DEVELOP INTO LIFELONG LEARNERS WHO LEAD WITH KINDNESS, CURIOSITY, AND INTEGRITY. WE PREPARE STUDENTS TO BE RESPONSIBLE AND OPEN-MINDED AS THEY ENGAGE WITH THE WORLD AROUND THEM.STUDENTS: 1,032 TOTAL STUDENTS: 332 LOWER SCHOOL; 174 MIDDLE SCHOOL; 526 UPPER SCHOOL; 46% STUDENTS OF COLORTEACHING FACULTY: 161 TOTAL; 85% HAVE ADVANCED DEGREESFINANCIAL AID: 25% OF THE STUDENT BODY COLLEGE COUNSELING: 4 COUNSELORS AVAILABLE FOR GUIDANCECOLLEGE MATRICULATION: THE CLASS OF 2023 ENTERED APPROXIMATELY 71 DIFFERENT COLLEGES AND UNIVERSITIESDEIG IS OUR COMPASS. BB&N STRIVES TO FOSTER AN INCLUSIVE LEARNING ENVIRONMENT. WE VALUE THE DIVERSE, RICH, AND COMPLEX IDENTITIES, PERSPECTIVES, AND EXPERIENCES THAT MAKE UP OUR INTERCONNECTED COMMUNITY. WE PREPARE STUDENTS TO ENGAGE WITH THE WORLD'S COMPLEXITIES, EMPOWERING THEM TO BECOME RESPONSIBLE GLOBAL CITIZENS COMMITTED TO SOCIAL JUSTICE.IN ADDITION, NO AMOUNTS HAVE BEEN REFLECTED IN THE FORM 990 FOR MANY HOURS OF CONTRIBUTED SERVICES FROM VOLUNTEERS. HOWEVER, MANY INDIVIDUALS VOLUNTEER THEIR TIME AND PERFORM A VARIETY OF TASKS THAT ASSIST THE SCHOOL WITH ITS ACTIVITIES. THE VALUE OF THIS CONTRIBUTED TIME AND EFFORT IS NOT REFLECTED IN THE FORM 990. 100 BB&N ALUMNI/AE, PARENTS AND FRIENDS SUPPORT THE SCHOOL BY VOLUNTEERING THEIR TIME. THIS GENEROUS SUPPORT ALLOWS BB&N TO ACCOMPLISH MANY OF THE THINGS THAT SET IT APART FROM OTHER INDEPENDENT DAY SCHOOLS. WE ARE ABLE TO RETAIN THE MOST QUALIFIED AND DYNAMIC FACULTY, PROVIDE TREMENDOUS ART AND ATHLETIC PROGRAMS, MAINTAIN BEAUTIFUL GROUNDS AND BUILDINGS, AND PROVIDE FINANCIAL ASSISTANCE TO QUALIFIED STUDENTS. 1505384 95416 2236330 BUCKINGHAM BROWNE & NICHOLS SCHOOL HOLDS A SUMMER CAMP FOR BOSTON AREA CHILDREN EACH SUMMER THAT PROVIDES MEMBERS OF THE SCHOOL AND LOCAL COMMUNITY WITH A HIGH QUALITY, AFFORDABLE OPTION TO EDUCATE AND ENTERTAIN THEIR CHILDREN DURING SUMMER VACATION. 56309204 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 95 0 1 573 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 29 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X JENNIFER TRENT 6178002747 30 GERRYS LANDING ROAD CAMBRIDGE MA 02138 DR JENNIFER P PRICE HEAD OF SCHOOL 40.00 X X 536463 0 132865 AMY SELINGER FACULTY TRUSTEE (AS OF SEPT. 2022) 40.00 X 132678 0 50230 LESLIE AHLSTRAND TRUSTEE (UNTIL MAY 2023) 1.00 X 0 0 0 JAKE ANDERSON-BIALIS TRUSTEE 1.00 X 0 0 0 ELIZA APPLETON TRUSTEE 1.00 X 0 0 0 CARMEN ARCE-BOWEN TRUSTEE 1.00 X 0 0 0 JENNIFER WINN ARONSON TRUSTEE 1.00 X 0 0 0 TAMARA W ASHFORD TRUSTEE 1.00 X 0 0 0 MARGARET BOASBERG TRUSTEE (UNTIL MAY 2023) 1.00 X 0 0 0 ALEXI CONINE TRUSTEE 1.00 X 0 0 0 ALEXIS BOYLE EGAN TRUSTEE 1.00 X 0 0 0 ALEXANDRA EPEE-BOUNYA TRUSTEE 1.00 X 0 0 0 LESLIE AHLSTRAND FITZGERALD TRUSTEE 1.00 X 0 0 0 CHRISTINE GROSS-LOH TRUSTEE 1.00 X 0 0 0 RACHEL KRONER HANSELMAN TRUSTEE 1.00 X 0 0 0 LIONEL HARRIS TRUSTEE 1.00 X 0 0 0 JEFF HAWKINS TRUSTEE 1.00 X 0 0 0 FREDDIE JACOBS TRUSTEE 1.00 X 0 0 0 JOELINDA JOHNSON TRUSTEE 1.00 X 0 0 0 MARJORIE LICHTENBERGER TRUSTEE 1.00 X 0 0 0 TRISTIN MANNION TRUSTEE 1.00 X 0 0 0 JK NICHOLAS TRUSTEE 1.00 X 0 0 0 SHEP PERKINS TRUSTEE 1.00 X 0 0 0 LESLIE RIEDEL TRUSTEE 1.00 X 0 0 0 ILA SHAH TRUSTEE 1.00 X 0 0 0 GILLIEN TODD TRUSTEE (AS OF SEPT. 2022) 1.00 X 0 0 0 ADAM ZALISK TRUSTEE 1.00 X 0 0 0 CHARLES A BRIZIUS CHAIR 1.00 X X 0 0 0 JASON HAFLER VICE CHAIR 1.00 X X 0 0 0 PAM BAKER VICE CHAIR/SECRETARY 1.00 X X 0 0 0 JIMMY BERYLSON VICE CHAIR/TREASURER 1.00 X X 0 0 0 TARA S GOHLMANN COO/CFO 40.00 X 445620 0 84167 JED LIPPARD CHIEF LEARNING OFFICER 40.00 X 253077 0 73566 GEOFFREY THEOBALD UPPER SCHOOL DIRECTOR (UNTIL JUNE 2022) 40.00 X 329559 0 37915 JULIE A GRAY CHIEF ADVANCEMENT OFFICER 40.00 X 274474 0 55246 MARY EVERETT DOLBEAR MIDDLE SCHOOL DIRECTOR 40.00 X 176861 0 50651 KIM GOLD DIRECTOR OF HEALTH SERVICE 40.00 X 174513 0 45207 ANTHONY REPPUCCI LOWER SCHOOL DIRECTOR 40.00 X 172316 0 55385 2495561 0 585232 57 0 1 0 RAD SPORTS 171 VFW DRIVE ROCKLAND MA 02370 TURF FIELD INSTALLATION 10904198 BERKELEY BUILDING COMPANY 248 MAIN STREET SUITE 103 READING MA 01867 BUILDING CONSTRUCTION 947709 ARCH ENERGY 72 SUMNER STREET MILFORD MA 01757 BUILDING ENERGY MODELING 833179 YOUR SPACE LANDSCAPE & CONSTRUCTION 2 BLANCHARD ROAD BURLINGTON MA 01803 LAND AND UTILITY CONSTRUCTION 776545 GOOD CLANCY ARCHITECTURE 420 BOYLSTON STREET BOSTON MA 02116 ARCHITECTURE 705169 19 5472359 857762 5472359 STUDENT TUITION 611600 54629723 54629723 SUMMER & OTHER TUITION 611710 2236330 2236330 TRANSPORTATION INCOME 480000 528121 528121 OTHER REVENUE 900099 423817 423817 RENTAL REVENUE 532000 83532 37332 46200 57901523 151930 140172 11758 5112164 3815498 1296666 1296666 1296666 64822478 57855323 186372 1308424 95416 95416 10647676 10647676 1853268 660607 1192661 28752563 24875604 2518926 1358033 2409728 2088706 205975 115047 4372569 3740539 427976 204054 2169125 1819679 252052 97394 36002 36002 136992 136992 866171 866171 3365988 2477486 758093 130409 122725 122725 259913 55390 99115 105408 1015931 897067 65020 53844 1642326 1488794 108958 44574 647839 602311 15946 29582 670522 369549 217459 83514 1002611 1002611 3849805 3491773 254087 103945 349581 40552 309029 FOOD 905465 730222 23863 151380 EQUIPMENT RENTAL/MAINTE 887397 730547 120486 36364 SUPPLIES 751124 713377 25477 12270 BOOKS & DUES 612578 498400 58240 55938 356864 162784 122969 71111 67780179 56309204 8818108 2652867 6097262 4553235 4248417 3813470 6176350 4104995 25719690 27211911 558295 435254 182379872 57890306 118573289 124489566 3654117 3660944 83909992 89836449 4692615 749973 253630027 258855797 6074210 5660891 45843752 49519778 29895574 29410451 200731 562898 82014267 85154018 X 94456890 94964880 77158870 78736899 171615760 173701779 253630027 258855797 X -2957701 5062972 -19252 X 0 1 X 1 0 X 4530819 5644611 14253896 12164564 5472359 42066249 4530819 5644611 14253896 12164564 5472359 42066249 1258010 40808239 983149 817303 3404876 -25964 11758 5191122 231555 231555 47488926 259744896 0.85930 0.86420 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 167.00 0 0 0 1 1 80.00 0 1 95316385 373081 5609548 3985671 97313343 112471722 1314719 -14907628 3562428 95316385 82360609 3608126 29857792 3354805 112471722 81386804 1789677 2494143 3310015 82360609 80358235 1839578 2437778 3248787 81386804 0.29780 0.52510 0.17710 0 0 57750488 57750488 108287363 45838245 62449118 3593657 3289939 303718 9749463 8762122 987341 2998901 2998901 124489566 GLOBAL EQUITY FUNDS 13666748 F EMERGING MARKETS EQUITY FUNDS 3234322 F U.S. EQUITY FUNDS 15290967 F MULTISTRATEGY FUNDS 20310564 F NONMARKETABLE FUNDS 37333848 F 89836449 ENROLLMENT DEPOSITS 36349 ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 188837 LEASE LIABILITY - OPERATING 337712 562898 X 58352351 5062972 -11533099 -6470127 64822478 0 64822478 56266332 0 56266332 866171 10647676 11513847 67780179 PART II, LINE 9: THE SCHOOL DOES NOT RECEIVE REVENUE AND HAS NO EXPENSES RELATED TO THIS CONSERVATION EASEMENT. THEREFORE, NO REVENUE OR EXPENSES ARE INCLUDED. PART V, LINE 4: USE OF THE ORGANIZATION'S ENDOWMENT FUNDS: TO SUPPLEMENT AND SUPPORT THE OPERATIONS OF THE SCHOOL. PART X, LINE 2: THE SCHOOL ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A MORE-LIKELY-THAN-NOT THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A CUMULATIVE PROBABILITY ASSESSMENT THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES ASSESSED, IF ANY, ARE ACCRUED AS INCOME TAX EXPENSE. THE SCHOOL HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY AND ITS DETERMINATIONS AS TO ITS INCOME BEING RELATED OR UNRELATED AS ITS ONLY SIGNIFICANT TAX POSITIONS; HOWEVER, THE SCHOOL HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE SCHOOL IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. THE SCHOOL'S FEDERAL AND STATE INCOME TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS AFTER THE DATE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: AMORTIZATION OF ANNUITY DISCOUNTS -19,252. FINANCIAL AID NETTED WITH REVENUE ON AUDITED F/S -10,647,676. INVESTMENT EXPENSES NETTED WITH INVESTMENT RETURN ON AUDITED F/S -866,171. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON AUDITED F/S 10,647,676. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NOTICE OF RACIAL NON-DISCRIMINATION POLICY IS PUBLISHED ONLINE AT WWW.AISNE.ORG. IT IS ALSO PUBLISHED IN THE EMPLOYEE HANDBOOK, ON THE ORGANIZATION'S WEBSITE AND IN A FINANCIAL SUPPLEMENT WHICH IS PROVIDED TO ALL FAMILIES WHEN STUDENTS ENROLL. CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 40978045 0 0 0 0 0 0 40978045 0 40978045 1 0 1 1 1 0 PART III ACCOUNTING METHOD: 1 THE FAMILY COOPERATIVE INC 46 BELMONT STREET WATERTOWN MA 02472 461859126 501(C)(3) 0 95416 FMV RENT & UTILITIES BB&N HAS FORGIVEN THE RENT AND UTILITIES OWED BY THE FAMILY COOPERATIVE DURING FISCAL YEAR 2023 1 0 FINANCIAL AID 254 10647676 CREDIT TO STUDENT ACCOUNT PART I, LINE 2: SCHOLARSHIPS ARE APPLIED AGAINST TUITION CHARGED BY THE ORGANIZATION. FAMILIES SUBMIT THEIR FINANCIAL INFORMATION THROUGH A SERVICE THAT CALCULATES THE AMOUNT THAT A FAMILY CAN AFFORD TO PAY FOR TUITION. THE SCHOOL PERIODICALLY CHECKS TAX RETURNS WITH THE IRS TO CONFIRM THAT THE DATA PROVIDED IS ACCURATE. THE SCHOOL APPLIES THE GRANT TO THE TUITION CHARGED. PART II, LINE 1, COLUMN (H): NAME OF ORGANIZATION OR GOVERNMENT: THE FAMILY COOPERATIVE INC. (H) PURPOSE OF GRANT OR ASSISTANCE: BB&N HAS FORGIVEN THE RENT AND UTILITIES OWED BY THE FAMILY COOPERATIVE DURING FISCAL YEAR 2023. ONE OF THE CONDITIONS OF THE RENTAL AGREEMENT BETWEEN BB&N AND THE FAMILY COOPERATIVE IS THAT BB&N ENROLLEES WHO SATISFY THE FAMILY COOPERATIVE'S CRITERIA FOR ACCEPTANCE WILL BE GIVEN PREFERENCE AND WILL BE ACCEPTED TO FILL ANY VACANCIES. X 1 1 X X X X X 1 0 0 0 0 0 0 1 0 DR JENNIFER P PRICE HEAD OF SCHOOL 501435 0 30500 0 4528 0 49747 0 83118 0 669328 0 0 0 TARA S GOHLMANN COO/CFO 314892 0 1500 0 129228 0 46935 0 37232 0 529787 0 0 0 GEOFFREY THEOBALD UPPER SCHOOL DIRECTOR (UNTIL JUNE 2022) 122503 0 0 0 207056 0 12720 0 25195 0 367474 0 0 0 JULIE A GRAY CHIEF ADVANCEMENT OFFICER 252092 0 1500 0 20882 0 25999 0 29247 0 329720 0 0 0 JED LIPPARD CHIEF LEARNING OFFICER 251049 0 1500 0 528 0 36650 0 36916 0 326643 0 0 0 ANTHONY REPPUCCI LOWER SCHOOL DIRECTOR 163336 0 1500 0 7480 0 17460 0 37925 0 227701 0 0 0 MARY EVERETT DOLBEAR MIDDLE SCHOOL DIRECTOR 174575 0 1500 0 786 0 18493 0 32158 0 227512 0 0 0 KIM GOLD DIRECTOR OF HEALTH SERVICE 146479 0 1500 0 26534 0 15469 0 29738 0 219720 0 0 0 AMY SELINGER FACULTY TRUSTEE (AS OF SEPT. 2022) 129253 0 450 0 2975 0 13911 0 36319 0 182908 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL LIVES IN A SCHOOL OWNED PERSONAL RESIDENCE. THIS IS FOR THE CONVENIENCE OF THE SCHOOL. USE OF THE HOUSE, WITH AN IMPUTED ANNUAL VALUE OF $48,000, HAS BEEN INCLUDED IN NONTAXABLE BENEFITS OF THE HEAD OF SCHOOL. PART I, LINE 4A GEOFFREY THEOBALD LEFT HIS POSITION AS THE UPPER SCHOOL DIRECTOR ON JUNE 30, 2022. HE RECEIVED SEVERANCE PAYMENT OF $206,707 WHICH IS REPORTED IN PART II, COLUMN (B)(III). PART I, LINE 7 ALL SENIOR LEADERSHIP POSITION BONUSES ARE PERFORMANCE-BASED AND APPROVED BY THE BOARD UPON ANNUAL REVIEW. ALL OTHER LISTED EMPLOYEES RECEIVE BONUSES CONTINGENT ON COLLECTIVE FUNDRAISING AND SPREAD OUT AMONG THE SCHOOLS EMPLOYEES. A MASS DEVELOPMENT FINANCE ACADEMY 043431814 000000000 2011-12-19 15000000 REFUND 2006 BOND ISSUE 0 0 0 B MASS DEVELOPMENT FINANCE ACADEMY 043431814 000000000 2021-01-13 20375000 SEE PART VI 0 0 0 A 5750000 15000000 236123 14763877 2011 1 0 1 1 B 20375000 20375000 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART I BOND ISSUES, LINE B: (F) TO FINANCE COSTS TO PURCHASE PROPERTY, CONSTRUCT NEW ATHLETIC FACILITIES, RENOVATE AND MAKE IMPROVEMENTS TO EXISTING BUILDINGS/FACILITIES, AND ACQUISITION OF FURNITURE, FURNISHINGS AND EQUIPMENT FOR THE SCHOOL. X 35 857762 FMV 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART I, LINE I & PART III, LINE I: BB&N, AN ALL GENDER DAY SCHOOL IN CAMBRIDGE, MASSACHUSETTS, WAS ESTABLISHED IN 1974 BY THE MERGER OF TWO INDEPENDENT SCHOOLS, THE BUCKINGHAM SCHOOL AND THE BROWNE & NICHOLS SCHOOL, FOUNDED RESPECTIVELY IN 1889 AND 1883. LOCATED ON MULTIPLE CAMPUSES, WE WORK AS ONE SCHOOL IN PURSUIT OF EXCELLENCE. WE CELEBRATE THE DIVERSITY OF OUR COMMUNITY WHICH ENRICHES OUR DAILY EXPERIENCE. AT BB&N, WE FOSTER INTELLECTUAL CURIOSITY, CRITICAL THINKING AND A DEEP CONCERN AND RESPECT FOR OTHERS. OUR EDUCATIONAL PROGRAM, COORDINATED FROM BEGINNERS THROUGH GRADE TWELVE, PROVIDES A RIGOROUS CORE CURRICULUM, TAUGHT IN FLEXIBLE AND INNOVATIVE WAYS. STUDENTS ACQUIRE THE SKILLS AND DISCIPLINE NECESSARY FOR ACADEMIC ACCOMPLISHMENT AND LEARN TO REFLECT, TAKE RISKS AND TO DISCOVER. THE CURRICULUM IS STRENGTHENED BY OUR COMMITMENT TO A COMPREHENSIVE PROGRAM IN THE ARTS AND ATHLETICS. IN ALL OF OUR EXPERIENCES, BOTH THOSE WITHIN THE SCHOOL AND THOSE WHICH USE OUR URBAN LOCATION, WE ENCOURAGE SELF-RELIANCE, KNOWLEDGE OF ONESELF, AND A CAPACITY FOR LEADERSHIP. THE CONNECTIONS BETWEEN OUR FACULTY AND STUDENTS ARE AT THE HEART OF OUR SCHOOL. WE ASK MEMBERS OF OUR COMMUNITY TO BE ENGAGED LEARNERS, COMPASSIONATE INDIVIDUALS, AND PRODUCTIVE CITIZENS WHO LIVE OUR SCHOOL'S MOTTO: "HONOR, SCHOLARSHIP, AND KINDNESS." FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS THE FORM 990 AND THEN RECOMMENDS APPROVAL TO THE FULL BOARD OF TRUSTEES. AFTER APPROVAL BY THE AUDIT COMMITTEE, AND PRIOR TO FILING, A COPY OF THE FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST FORM ANNUALLY. THE FORMS ARE REVIEWED BY THE GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEES AND THEY DETERMINE IF A POTENTIAL CONFLICT EXISTS. IF A POTENTIAL CONFLICT IS FOUND TO EXIST, THAT INDIVIDUAL IS BARRED FROM PARTICIPATING IN ANY DELIBERATIONS OR DECISIONS REGARDING THE CONFLICTING MATTER. REVIEW OF THE CONFLICT OF INTEREST POLICY IS DONE ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A REASONABLE COMPENSATION: IT IS THE POLICY OF BUCKINGHAM BROWNE & NICHOLS SCHOOL ("THE SCHOOL") TO PAY NO MORE THAN REASONABLE COMPENSATION FOR PERSONAL SERVICES RENDERED TO THE SCHOOL BY OFFICERS AND EMPLOYEES. THE TRUSTEES OF THE SCHOOL SHALL NOT RECEIVE COMPENSATION FOR FULFILLING THEIR DUTIES AS TRUSTEES, ALTHOUGH TRUSTEES MAY BE REIMBURSED FOR ACTUAL OUT-OF-POCKET EXPENSES WHICH THEY INCUR IN ORDER TO FULFILL THIER DUTIES AS TRUSTEES. EXPENSES OF SPOUSES WILL NOT BE REIMBURSED BY THE SCHOOL UNLESS THE EXPENSES ARE NECESSARY TO ACHIEVE A SCHOOL PURPOSE. APPROVAL OF COMPENSATION: THE BOARD OF TRUSTEES MUST APPROVE IN ADVANCE THE AMOUNT OF ALL COMPENSATION FOR THE HEAD OF THE SCHOOL. BEFORE APPROVING THE COMPENSATION OF THE HEAD OF SCHOOL, THE BOARD SHALL DETERMINE THAT THE TOTAL COMPENSATION TO BE PROVIDED BY THE SCHOOL TO THE HEAD OF SCHOOL IS REASONABLE IN AMOUNT IN LIGHT OF THE POSITION, RESPONSIBILITY AND QUALIFICATION OF THE HEAD OF SCHOOL FOR THE POSITION HELD, INCLUDING THE RESULT OF AN EVALUATION OF THE HEAD OF SCHOOL'S PRIOR PERFORMANCE FOR THE SCHOOL, IF APPLICABLE. IN MAKING THE DETERMINATION, THE BOARD SHALL CONSIDER TOTAL COMPENSATION TO INCLUDE THE SALARY AND THE VALUE OF ALL BENEFITS PROVIDED BY THE SCHOOL TO THE INDIVIDUAL IN PAYMENT FOR SERVICES. AT THE TIME OF THE DISCUSSION AND DECISION CONCERNING THE HEAD OF SCHOOL'S COMPENSATION, THE HEAD OF SCHOOL SHOULD NOT BE PRESENT AT THE MEETING. THE BOARD SHALL OBTAIN AND CONSIDER APPROPRIATE DATA CONCERNING COMPARABLE COMPENSATION PAID TO SIMILAR HEAD OF SCHOOLS IN LIKE CIRCUMSTANCES. THE BOARD SHALL SET FORTH THE BASIS FOR ITS DECISIONS WITH RESPECT TO COMPENSATION IN THE MINUTES OF THE MEETING AT WHICH THE DECISIONS ARE MADE, INCLUDING THE CONCLUSIONS OF THE EVALUATION AND THE BASIS FOR DETERMINING THAT THE INDIVIDUAL'S COMPENSATION WAS REASONABLE IN LIGHT OF THE EVALUATION AND THE COMPARABILITY DATA. COMPENSATION FOR OTHER KEY EMPLOYEES IS DETERMINED BY THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). IN ADDITION, THE ORGANIZATION'S FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA CANDID (FORMERLY KNOWN AS GUIDESTAR) AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. FORM 990, PART XI, LINE 9: AMORTIZATION OF ANNUITY DISCOUNTS -19,252.