2023-04-07T09:35:17-05:00 2022-06-30 042211907 MILLER WACHMAN LLP 100 CAMBRIDGE STREET 13TH FLOOR BOSTON MA 021142548 990 2021-07-01 042104457 THE RIVERS SCHOOL CORPORATION RIVE 7812359300 333 WINTER STREET WESTON MA 024931040 JAY M GROSSMAN TREASURER 7812359300 2023-02-28 1 JAY GROSSMAN 999009999 ROBIN A KATZMAN CPA P01569433 6173386800 2023-02-28 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z EDWARD V PARSONS 333 WINTER STREET WESTON MA 024931040 51921625 0 X WWW.RIVERS.ORG X 1924 MA THE RIVERS SCHOOL IS A COED COLLEGE PREPARATORY DAY SCHOOL FOR GRADES 6 THROUGH 12. RIVERS CHALLENGES STUDENTS TO ATTAIN THEIR HIGHEST LEVELS OF EXCELLENCE IN ACADEMICS, ARTS, AND ATHLETICS. WE SET HIGH STANDARDS AND EXPECT STUDENTS TO PARTICIPATE ACTIVELY IN THEIR LEARNING. WE CULTIVATE A CARING, RESPECTFUL, AND COLLABORATIVE ENVIRONMENT THAT ENCOURAGES STUDENT PERFORMANCE, INCLUDING DEMONSTRATION OF LOGICAL THOUGHT, INFORMED AND ARTICULATE VOICE, CREATIVE VISION, AND INTEGRITY. RIVERS IS DEDICATED TO PREPARING ITS STUDENTS FOR LEADERSHIP IN A WORLD THAT NEEDS THEIR TALENTS, IMAGINATION, INTELLECT, AND COMPASSION. 31 31 407 387 420505 0 10132140 5541130 30014784 32185444 1514968 177612 427729 543314 42089621 38447500 6558325 6826489 0 0 18746843 20357288 0 38100 1996793 10343426 10784237 35648594 38006114 6441027 441386 120748390 114545125 33643068 27195012 87105322 87350113 X THE RIVERS SCHOOL IS A COED COLLEGE PREPARATORY DAY SCHOOL FOR GRADES 6 THROUGH 12. RIVERS CHALLENGES STUDENTS TO ATTAIN THEIR HIGHEST LEVELS OF EXCELLENCE IN ACADEMICS, ARTS, AND ATHLETICS. WE SET HIGH STANDARDS AND EXPECT STUDENTS TO PARTICIPATE ACTIVELY IN THEIR LEARNING. WE CULTIVATE A CARING, RESPECTFUL, AND COLLABORATIVE ENVIRONMENT THAT ENCOURAGES STUDENT PERFORMANCE, INCLUDING DEMONSTRATION OF LOGICAL THOUGHT, INFORMED AND ARTICULATE VOICE, CREATIVE VISION, AND INTEGRITY. RIVERS IS DEDICATED TO PREPARING ITS STUDENTS FOR LEADERSHIP IN A WORLD THAT NEEDS THEIR TALENTS, IMAGINATION, INTELLECT, AND COMPASSION. 0 0 26396714 6613079 28556750 SCHOOL PROGRAM - THE INSTRUCTION OF 515 STUDENTS - GRADE 6-12. THE SCHOOL YEAR RUNS FROM SEPTEMBER TO JUNE. 2627325 213409 2860300 MUSIC CONSERVATORY - OFFERS PREMIER CLASSICAL AND JAZZ MUSIC EDUCATION AND PERFORMANCE PROGRAMS THAT DEVELOP THE HIGHEST LEVELS OF ARTISTIC AND TECHNICAL ACHIEVEMENT IN STUDENT MUSICIANS OF ALL AGES 108240 0 354575 SUMMER CAMP PROGRAM - THE INSTRUCTION AND SUPERVISION OF CAMPERS IN ARTS, CRAFTS, AND OUTDOOR ACTIVITIES. 898403 0 545082 OTHER SCHOOL PROGRAMS - VARIOUS EXTRA - CURRICULAR ACTIVITIES. 898403 0 545082 30030682 1 1 0 0 0 0 1 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 88 0 1 407 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X X JONATHAN D WASSERMAN 7812359300 THE RIVERS SCHOOL 333 WINTER STREET WESTON MA 02493 ALAN D ROSE JR TRUSTEE ELECTED 6/1/22 0.80 X 0 0 0 ALISON HALL TRUSTEE 1.50 X 0 0 0 ALISON MONAGHAN TRUSTEE 0.80 X 0 0 0 AMARIS PENA-RAMOS TRUSTEE TERMED 3/22 0.80 X 0 0 0 ANDREW C DELINSKY TRUSTEE 0.80 X 0 0 0 BEN D FISCHMAN TRUSTEE TERMED 6/1/22 0.80 X 0 0 0 DANIEL R REVERS TRUSTEE 0.80 X 0 0 0 DENNIS BALDWIN TRUSTEE 0.80 X 0 0 0 HARLEY LANK PRESIDENT 2.50 X X 0 0 0 HEIDI C PEARLSON CLERK 1.00 X X 0 0 0 HELEN L HOWARD TRUSTEE TERMED 6/1/22 1.00 X 0 0 0 JAMES CROOM TRUSTEE ELECTED 6/1/22 0.80 X 0 0 0 JAMES F CARLIN III TRUSTEE 0.80 X 0 0 0 JANET A CORREIA TRUSTEE TERMED 5/22 0.80 X 0 0 0 JANICE MORRIS TRUSTEE 0.80 X 0 0 0 JAY M GROSSMAN TREASURER 1.80 X X 0 0 0 JEMEA GOSO TRUSTEE 0.80 X 0 0 0 JOHN FOLEY TRUSTEE 0.80 X 0 0 0 JOHN MALDONADO TRUSTEE ELECTED 6/1/22 0.80 X 0 0 0 JON BAKER JR TRUSTEE 0.80 X 0 0 0 JONATHAN H PAUL VICE PRESIDENT 2.50 X X 0 0 0 JULIE CONDRON TRUSTEE ELECTED 6/1/22 0.80 X 0 0 0 JULIE LEE TRUSTEE ELECTED 6/1/22 0.80 X 0 0 0 KENNETH STILLWELL TRUSTEE 0.80 X 0 0 0 LOUISE CUMMINGS TRUSTEE 1.80 X 0 0 0 MARK BENJAMIN TRUSTEE ELECTED 6/1/22 0.80 X 0 0 0 MATTHEW FRUHAN TRUSTEE 0.80 X 0 0 0 MICHAEL LONDON TRUSTEE 0.80 X 0 0 0 PETER WALTER TRUSTEE 1.80 X 0 0 0 RACHEL HUNTER TRUSTEE 0.80 X 0 0 0 ROGER RANDALL TRUSTEE 0.80 X 0 0 0 SCOTT HOLMES TRUSTEE ELECTED 6/1/22 0.80 X 0 0 0 SHEILA HIATT TRUSTEE 1.80 X 0 0 0 STEPHEN M JENNINGS TRUSTEE TERMED 6/1/22 0.80 X 0 0 0 SUSAN JANOSKY TRUSTEE 0.80 X 0 0 0 SUSAN RAPPLE TRUSTEE 0.80 X 0 0 0 TIMOTHY D MANN TRUSTEE TERMED 6/1/22 1.50 X 0 0 0 EDWARD V PARSONS HEAD OF SCHOOL 60.00 X 397918 0 171812 JONATHAN D WASSERMAN CFO / ASSISTANT TREASURER 60.00 X 243205 0 54348 KRISTEN MENSING ASSISTANT CLERK 37.50 X 82750 0 7844 KRISSIE KELLEHER ASSOC. HEAD OF SCH. DEVELOPMENT/EXTERNAL RELATIONS 60.00 X 245551 0 96210 JAMES M LONG ASSISTANT HEAD OF SCHOOL 50.00 X 164050 0 79719 LESLIE FRASER UPPER SCHOOL DEAN OF FACUL 50.00 X 161064 0 46409 GABRIELLA SANNA DIRECTOR OF RSC 60.00 X 146190 0 12030 JOHN BOWER DIRECTOR OF MIDDLE SCHOOL 50.00 X 140822 0 42262 GILLIAN LLOYD DIRECTOR OF ADMISSIONS 50.00 X 134040 0 45338 1715590 0 555972 26 0 1 0 BOWDOIN CONSTRUCTION CORPORATION 220-1 RESERVOIR STREET NEEDHAM MA 02494 BUILDING RENOVATIONS 2255202 FLIK INDEPENDENT SCHOOL DINING 2 INTERNATIONAL DRIVE RYE BROOK NY 10573 FOOD SERVICE PROVIDER 1119537 LOCAL MOTION 66B ROCSAM PARK RD BRAINTREE MA 02184 TRANSPORTATION 404351 PHYSICIANONE URGENT CARE 31 OLD ROUTE 7 BROOKFIELD CT 06804 COVID TESTING 238290 GDI SERVICES INC 220 RESERVOIR STREET SUITE 19 NEEDHAM MA 02494 JANITORIAL SERVICES 226165 10 20119 5521011 541557 5541130 TUITION INCOME 900099 28556750 28556750 RIVERS SCHOOL CONSERVATORY 900099 2860300 2860300 SCHOOL ACTIVITIES 900099 413819 413819 SUMMER CAMPS 900099 354575 354575 32185444 252451 252451 65663 69475 -3812 -3812 -3812 13209152 13283991 -74839 -74839 -74839 46710 20119 53544 -6834 -6834 2190 0 2190 2190 79649 67115 12534 12534 ATHLETIC FACILITY RENTS 713990 420505 420505 MISC. INCOME 900099 84868 84868 NEXTEL RENTAL 900002 33863 33863 539236 38447500 32316709 420505 169156 6826489 6826489 1087520 45826 725369 316325 15181625 12168961 2293475 719189 1189234 912608 215934 60692 1737668 1309581 314701 113386 1161241 872639 217906 70696 42470 42470 68776 68776 38100 38100 155988 155988 23789 23789 277149 207862 55430 13857 909863 646968 240838 22057 121 121 500477 459335 41142 3171988 2780189 360119 31680 286825 206436 73644 6745 LUNCH PROGRAM 979245 832358 97925 48962 UTILITIES 654107 509109 132833 12165 ADVANCEMENT 505658 505658 OTHER SCHOOL ACTIVITIES 475401 475401 2732380 1776920 918179 37281 38006114 30030682 5978639 1996793 18725789 21939976 1625665 1081844 6209733 4060512 184409 188344 70667 24143 556158 323489 93378730 39410215 49923465 53968515 12799328 8002752 30042764 24356966 610412 598584 120748390 114545125 2063503 2386660 10998715 11569699 10270000 0 7395928 12980693 2914922 257960 33643068 27195012 X 61931682 64320443 25173640 23029670 87105322 87350113 120748390 114545125 X 441386 -4732277 4535682 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 1 0 0 1 0 0 403540 X 0 36951569 1149904 -4721451 1321417 32058605 27474394 1355409 8836560 714794 36951569 26940396 837781 -584594 -280811 27474394 25246751 2059767 669821 1035943 26940396 23312829 1934645 998201 998924 25246751 0.46550 0.39980 0.13470 0 0 3108165 3108165 80680697 34683061 45997636 5381474 4130874 1250600 4208394 596280 3612114 53968515 MONEY MARKET FUNDS 256134 F NAV MEASURED INVESTMENTS 72517 F LIMITED PARTNERSHIPS 23473941 F CERTIFICATES OF DEPOSIT 554374 F 24356966 OTHER LIABILITIES 195044 CAPITAL LEASE OBLIGATION 62916 257960 X 27140788 -4732277 1400 190135 -4540742 31681530 155988 6609982 6765970 38447500 31431679 1400 190135 191535 31240144 155988 6609982 6765970 38006114 PART II, LINE 9: THE SCHOOL HAS INCLUDED IN ITS BALANCE SHEET AS PART OF LAND AND BUILDINGS THE CAPITALIZATION OF CERTIFIED HISTORIC STRUCTURES. PART III, LINE 4: THE SCHOOL'S RECORDING COLLECTION CONTAINS ONE OF THE MOST EXTENSIVE COLLECTIONS OF OPERA RECORDINGS IN THE UNITED STATES. THESE RECORDINGS, COMBINED WITH THOUSANDS OF OTHER INSTRUMENTAL AND VOCAL RECORDINGS WILL PROVIDE A HISTORICAL AND EDUCATIONAL LISTENING RESOURCE FOR STUDENTS AND FACULTY AT THE RIVERS SCHOOL CONSERVATORY AND THE SCHOOL. THE SCHOOL'S DINOSAUR FOSSIL COLLECTION WILL SERVE AS A HISTORICAL AND SCIENTIFIC RESOURCE AND AS AN EDUCATIONAL EXHIBIT FOR STUDENTS AND FACULTY. THE SCHOOL MAINTAINS A COLLECTION OF HISTORICALLY SIGNIFICANT PHOTOGRAPHS THAT WILL BE DISPLAYED BY THE SCHOOL AND USED BY STUDENTS AND FACULTY AS AN EDUCATIONAL RESOURCE. PART V, LINE 4: THE ENDOWMENT SUPPORTS THE EDUCATIONAL MISSION OF THE SCHOOL BY PROVIDING SUPPORT FOR FINANCIAL AID FOR STUDENTS, FACULTY RELATED EXPENSES, SCHOOL PROGRAMS, SCHOOL FACILITIES, AS WELL AS GENERAL SUPPORT FOR SCHOOL OPERATIONS. 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. THE SCHOOL HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY AND THE UNRELATED BUSINESS INCOME GENERATED FROM THE RENTAL OF THE SCHOOL'S CAMPUS FACILITIES AS 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 TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON PART VIII LINE 6B 69,475. COGS REPORTED ON PART VIII LINE 10B 67,116. SPECIAL EVENT EXPENSES INCLUDED IN PART VIII LINE 8B 53,544. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION 6,609,982. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON PART VIII LINE 6B 69,475. COGS REPORTED ON PART VIII LINE 10B 67,116. SPECIAL EVENT EXPENSES INCLUDED IN PART VIII LINE 8B 53,544. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION 6,609,982. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NOTICE OF NONDISCRIMINATION POLICY AS TO STUDENTS APPEARS ON THE HOMEPAGE OF OUR WEBSITE SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVED A GRANT FOR $15,000 FROM THE MASSACHUSETTS CULTURAL COUNCIL TO SUPPORT THE RIVERS SCHOOL CONSERVATORY. CAYMAN ISLANDS 0 0 INVESTMENTS 27632 0 0 0 0 0 0 27632 0 27632 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X X X X X 1 JH ADVISORSLLC 71 NORTHGATE RD WELLESLEY MA 02481 PROFESSIONAL CONSULTING 0 0 38100 0 38100 MA HOLIDAY POPS 24829 16229 8600 4257 2098 GOLF EVENT 40120 3700 36420 5129 14191 1545 2 190 -190 64949 20119 44830 5129 18448 3643 27220 17610 1 FINANCIAL AID 130 5052719 TUITION REMISSION 30 1560360 RIVERS CONSERVATORY FINANCIAL AID 117 213409 PART I, LINE 2: THE SCHOOL AWARDS FINANCIAL AID BASED UPON FINANCIAL NEED IN AN OBJECTIVE AND NON-DISCRIMINATORY MANNER. THE SCHOOL MAINTAINS FILES ON EACH SUCCESSFUL CANDIDATE FOR NEED BASED FINANCIAL AID WHICH INCLUDES A COMPLETED "PARENT FINANCIAL STATEMENT"(PFS) PROVIDED BY THE SCHOOL AND STUDENT SERVICES FOR FINANCIAL AID (SSS) FORMS AND COPIES OF THE MOST RECENT FILING OF THE PARENTS' 1040 FEDERAL TAX RETURN. THE SCHOOL USES THE INFORMATION PROVIDED BY THE ANALYSIS OF THE PFS BY SSS TO HELP MAKE AWARD DETERMINATIONS. AWARDS ARE ALSO ADJUSTED, AS NECESSARY, TO REFLECT SUPPLEMENTAL INFORMATION PROVIDED BY THE PARENTS. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 EDWARD V PARSONS HEAD OF SCHOOL 378164 0 0 0 19754 0 29000 0 144697 0 571615 0 0 0 KRISSIE KELLEHER ASSOC. HEAD OF SCH. DEVELOPMENT/EXTE 245110 0 0 0 441 0 24516 0 72911 0 342978 0 0 0 JONATHAN D WASSERMAN CFO / ASSISTANT TREASURER 242539 0 0 0 666 0 24264 0 31301 0 298770 0 0 0 JAMES M LONG ASSISTANT HEAD OF SCHOOL 163146 0 0 0 904 0 17407 0 63177 0 244634 0 0 0 LESLIE FRASER UPPER SCHOOL DEAN OF FACUL 159915 0 0 0 1149 0 17564 0 29765 0 208393 0 0 0 JOHN BOWER DIRECTOR OF MIDDLE SCHOOL 140690 0 0 0 132 0 14739 0 28227 0 183788 0 0 0 GILLIAN LLOYD DIRECTOR OF ADMISSIONS 132146 0 0 0 1894 0 14532 0 31635 0 180207 0 0 0 GABRIELLA SANNA DIRECTOR OF RSC 145568 0 0 0 622 0 12030 0 772 0 158992 0 0 0 SCHEDULE J, PART I LINE 1A-HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: AS PART OF HIS DUTIES AS HEAD OF SCHOOL, EDWARD PARSONS IS REQUIRED TO STAY ON CAMPUS IN A SCHOOL OWNED HOUSE. INCLUDED IN MR. PARSONS' SCHEDULE J PART II COLUMN (D) NONTAXABLE BENEFITS IS AN AMOUNT FOR 5% OF THE VALUE OF THE HOUSE. 104024 TUITION REMISSION EDUCATION ASSISTANCE 56300 FINANCIAL AID EDUCATION ASSISTANCE X 23 540212 VALUE AT DONATION DATE X 1 365 FAIR MARKET VALUE X RAFFLE GIFTS 3 980 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990, ABSENT SCHEDULE B, IS ELECTRONICALLY DISTRIBUTED TO ALL TRUSTEES PRIOR TO THE BOARD OF TRUSTEES MEETING. DUE TO THE CONFIDENTIAL NATURE OF DONOR INFORMATION PROVIDED ON SCHEDULE B, AND SINCE SCHEDULE B IS NOT OPEN TO PUBLIC INSPECTION, THE SCHOOL HAS DECIDED THAT IT WILL NOT DISCLOSE THE DETAILED DONOR INFORMATION PROVIDED ON SCHEDULE B TO MEMBERS OF THE BOARD OF TRUSTEES BEFORE FILING THE RETURN WITH THE IRS. ALL OTHER FORMS AND SCHEDULES THAT ARE ULTIMATELY FILED WITH THE IRS ARE PROVIDED TO THE BOARD OF TRUSTEES FOR REVIEW IN ADVANCE OF FILING. THE FORM 990 IS APPROVED BY THE BOARD OF TRUSTEES OR RETURNED FOR ADDITIONAL PREPARATION AND THEN APPROVED PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL ANNUALLY DISTRIBUTES TO ALL TRUSTEES, KEY EMPLOYEES AND OTHER COMMITTEE MEMBERS AN ELECTRONIC CONFLICT OF INTEREST SURVEY/QUESTIONNAIRE. THE RETURNED QUESTIONNAIRES ARE REVIEWED AND COMPILED BY THE SCHOOL'S FINANCIAL OFFICE AND THE RESULTS ARE PRESENTED TO THE SCHOOL'S AUDIT COMMITTEE. ANY ISSUES FOUND THAT THE AUDIT COMMITTEE BELIEVES ARE OF A CONCERN ARE FORWARDED TO THE SCHOOL'S GOVERNANCE COMMITTEE FOR FURTHER ACTION. THE COMPLETED QUESTIONNAIRES ARE MAINTAINED AS PART OF THE SCHOOL'S CORPORATE RECORDS BY THE ASSISTANT CLERK. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, COMPRISED OF INDEPENDENT MEMBERS OF THE BOARD, MAKES UP THE SCHOOL'S COMPENSATION COMMITTEE. THE COMMITTEE RELIES ON COMPARATIVE DATA FROM SURVEYS CONDUCTED BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND COMPARABLE DATA PROVIDED BY OTHER SCHOOLS ON THEIR IRS FORM 990 IN SETTING THE SALARY FOR THE HEAD OF SCHOOL. DOCUMENTATION OF THE BASIS OF DETERMINATION OF THE SALARY IS KEPT IN MINUTES PREPARED BY THE CLERK OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE HAS DELEGATED THE AUTHORIZATION OF THE SALARIES OF ALL EMPLOYEES, INCLUDING KEY EMPLOYEES, TO THE HEAD OF SCHOOL AND IS BASED ON COMPARABLE INFORMATION OBTAINED FROM SOURCES SUCH AS THE IRS FORM 990 OF OTHER SCHOOLS. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL RELIES ON THE WEBSITE OF THE MASSACHUSETTS' ATTORNEY GENERAL'S OFFICE OF PUBLIC CHARITIES DIVISION IN ORDER FOR THE PUBLIC TO ACCESS A COPY OF THE SCHOOL'S AUDITED FINANCIAL STATEMENTS AND FORM 990. THE SCHOOL RELIES ON GUIDESTAR TO POST THE FORM 990. THE SCHOOL RELIES ON THE WEBSITE OF THE MASSACHUSETTS' SECRETARY OF STATE'S OFFICE FOR PUBLIC ACCESS TO THE SCHOOL'S GOVERNING DOCUMENTS. THE SCHOOL'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE SCHOOL'S BY-LAWS ARE MADE AVAILABLE ON THE MASSACHUSETTS' ATTORNEY GENERAL'S OFFICE OF PUBLIC CHARITIES DIVISION WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT 1,193,182. GAIN ON DISPOSAL OF EQUIPMENT 25,000. DEBT FORGIVENESS INCOME 3,317,500. FORM 990, PART XII, LINE 2C THE BOARD OF TRUSTEES HAS AN AUDIT COMMITTEE THAT IS COMPRISED OF 4 MEMBERS, THREE OF WHICH ARE TRUSTEES, THAT IS RESPONSIBLE FOR THE SELECTION OF AN INDEPENDENT ACCOUNTING FIRM TO CONDUCT THE ANNUAL AUDIT, FOR MEETING WITH THE SELECTED AUDITORS PRIOR TO AND AT THE COMPLETION OF THE AUDIT, AND FOR REVIEWING ACCOUNTING POLICIES AND PROCEDURES.