2021-05-07T10:44:50-05:00 2020-06-30 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2019-07-01 250965561 SHADY SIDE ACADEMY SHAD 4129683137 423 FOX CHAPEL ROAD PITTSBURGH PA 152382296 KATHARINE FREDRIKSEN CFOO 4129683137 2021-05-04 1 SUSAN M KIRSCH P00341397 4122613644 2019 2022-09-23 18:48:47Z BARTLEY P GRIFFITH 423 FOX CHAPEL ROAD PITTSBURGH PA 152382296 43064204 0 X WWW.SHADYSIDEACADEMY.ORG X 1883 PA PROVIDES EDUCATION TO STUDENTS IN PRE-KINDERGARTEN THROUGH TWELFTH GRADE. 31 31 533 31 0 0 3338848 4529644 30012747 29754608 1850962 2742168 -176930 -28586 35025627 36997834 4293923 4602304 0 0 21759870 23566252 0 0 1052015 11957075 11652819 38010868 39821375 -2985241 -2823541 105163161 102206770 8863815 10574505 96299346 91632265 X SHADY SIDE ACADEMY OFFERS AN EXCEPTIONAL PRE-K THROUGH TWELFTH GRADE ACADEMIC AND BALANCED EDUCATIONAL EXPERIENCE BY CHALLENGING EACH STUDENT TO REALIZE HIS OR HER POTENTIAL IN A STIMULATING AND NURTURING ENVIRONMENT. 0 1 26079713 4602304 26693713 INSTRUCTIONAL:-THE ACADEMY ENROLLS APPROXIMATELY 1,008 STUDENTS (PRE K - 12). THE ACADEMY IS COLLEGE PREPARATORY WITH MOST SENIORS CONTINUING ON TO HIGHER EDUCATION. THE ACADEMY OPERATES FOUR SEPARATE CAMPUSES FOR COUNTRY DAY, JUNIOR, MIDDLE AND SENIOR SCHOOLS.-ATHLETICS: ALL SHADY SIDE ACADEMY STUDENTS ARE OFFERED A WIDE RANGE OF PHYSICAL ACTIVITIES THROUGHOUT THE SCHOOL YEAR TO ENCOURAGE HEALTHY CHOICES, DEVELOP SKILLS AND LEARN THE IMPORTANCE OF SPORTSMANSHIP. 1658996 1855805 AUXILIARY SERVICES:-RESIDENTIAL LIFE PROGRAM: THE ACADEMY OPERATES A FIVE AND SEVEN DAY BOARDING PROGRAM FOR APPROXIMATELY 79 STUDENT BOARDERS. THE STUDENTS ARE HOUSED IN ACADEMY DORMITORIES WITH ADMINISTRATORS AND TEACHERS WHO OVERSEE AND OPERATE THE RESIDENTIAL LIFE PROGRAM.-FOOD SERVICE: SERVES DAY STUDENTS LUNCH AND SERVES THOSE INVOLVED IN RESIDENTIAL LIFE PROGRAM BREAKFAST, LUNCH AND DINNER.-BOOK AND ATHLETIC STORES: THE STORES OFFER INDIVIDUALS THE OPPORTUNITY TO PURCHASE EDUCATIONAL TEXTBOOKS AND SUPPLIES AND ATHLETIC EQUIPMENT AND CLOTHING. THE ACADEMY REQUIRES ATHLETIC AND HEALTH CREDITS FOR GRADUATION. 841939 1106277 SUMMER PROGRAMS:-SHADY SIDE ACADEMY'S SUMMER PROGRAMS PROVIDE AN ENDLESS ARRAY OF POSSIBILITIES FOR ALL KIDS. 28580648 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 60 0 1 533 1 0 0 0 0 0 0 0 0 0 0 0 0 X 31 31 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X KATHARINE FREDRIKSEN CFOO 4129683034 423 FOX CHAPEL ROAD PITTSBURGH PA 15238 X AMY NIXON HEAD OF MIDDLE SCHOOL 40.00 0.00 X 202750 0 37292 BARTLEY P GRIFFITH JR PRESIDENT 40.00 0.00 X 152750 0 65909 GILBERT SCHNEIDER CHIEF FINANCIAL OFFICER 40.00 0.00 X 177419 0 28818 SOPHIE LAU HEAD OF SENIOR SCHOOL 40.00 0.00 X 121512 0 69283 EUGENE DEAL ATHLETIC DIRECTOR 40.00 0.00 X 110259 0 36032 TIMOTHY WINNER DIRECTOR OF EDUCATIONAL TECH 40.00 0.00 X 119916 0 23108 ALLISON SARAS DIRECTOR ALUMNI AND DEVELOPMENT 40.00 0.00 X 121750 0 13453 DEBRA MAUDER SECRETARY OF THE BOARD 40.00 0.00 X 98687 0 35925 KATHERINE MIHM DIRECTOR OF ENROLLMENT MANAGEMENT 40.00 0.00 X 107327 0 13168 MICHAEL J HANNON IMMEDIATE PAST CHAIR 3.50 0.00 X X 0 0 0 JONATHAN M KAMIN CHAIR OF THE BOARD 3.50 0.00 X X 0 0 0 THOMAS KARET VICE CHAIR FOR BUILDINGS AND GROUNDS 3.50 0.00 X X 0 0 0 JEFFREY A MCDANIEL VICE CHAIR FOR COMMUNITY LIFE 3.50 0.00 X X 0 0 0 ROBERT S MULLIN VICE CHAIR FOR FINANCE, TREASURER 3.50 0.00 X X 0 0 0 LAUREN O'BRIEN TROUTMAN VICE CHAIR FOR DEVELOPMENT 3.50 0.00 X X 0 0 0 NICOLLE BAGNELL TRUSTEE 3.50 0.00 X 0 0 0 JAMES BERNIER TRUSTEE 3.50 0.00 X 0 0 0 ROBERT E COCHRAN CHAIR COMMITTEE ON TRUSTEES 3.50 0.00 X 0 0 0 KARA SALVITTI CONOMIKES TRUSTEE 3.50 0.00 X 0 0 0 ROLAND J COSTON-CRISWELL TRUSTEE 3.50 0.00 X 0 0 0 DEBRA KLINE DEMCHAK CHAIR ENDOWMENT 3.50 0.00 X 0 0 0 ANNIE HANNA ENGEL CHAIR AUDIT 3.50 0.00 X 0 0 0 WILLIAM GENERETT JR TRUSTEE 3.50 0.00 X 0 0 0 BRYAN P GENTILE TRUSTEE 3.50 0.00 X 0 0 0 ROBERT GLIMCHER TRUSTEE 3.50 0.00 X 0 0 0 AMIT SINGH GROVER TRUSTEE 3.50 0.00 X 0 0 0 MICHELE JEGASOTHY TRUSTEE 3.50 0.00 X 0 0 0 JOSEPH L KELLEY TRUSTEE 3.50 0.00 X 0 0 0 MARY ANNE HANNA LANG TRUSTEE 3.50 0.00 X 0 0 0 CHERYL L LITTLE TRUSTEE 3.50 0.00 X 0 0 0 MIROYA MONSOUR TRUSTEE 3.50 0.00 X 0 0 0 PRADEEP NARAYAN TRUSTEE 3.50 0.00 X 0 0 0 GREGG M PERELMAN TRUSTEE 3.50 0.00 X 0 0 0 JAMES E ROHR JR TRUSTEE 3.50 0.00 X 0 0 0 SARA SCAIFE TRUSTEE 3.50 0.00 X 0 0 0 ANN GIBBONS SCHERLIS TRUSTEE 3.50 0.00 X 0 0 0 VANCE M SMITH IV TRUSTEE 3.50 0.00 X 0 0 0 GEORGE L STEWART II TRUSTEE 3.50 0.00 X 0 0 0 JEFFREY B TODD TRUSTEE 3.50 0.00 X 0 0 0 KRISTIN WELLS TRUSTEE 3.50 0.00 X 0 0 0 1212370 0 322988 13 0 1 0 METZ CULINARY MANAGEMENT TWO WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICE/CATERING 1799861 RULLI GENERAL CONSTRUCTION 126 23RD STREET PITTSBURGH PA 15215 CONSTRUCTION LABOR 370715 GREG INDUSTRIES INC PO BOX 175 GLENSHAW PA 15215 CONSTRUCTION LABOR 334258 NICK SCOTTI CONCRETE CONTRACTOR 3041 CANTERBURY DRIVE ALLISION PARK PA 15101 CONCRETE/MASONRY WORK 226500 DRAZ'S PAINTING LLC 406 CHURCH LANE ALLISION PARK PA 15101 PAINTING 179600 14 4529644 473600 4529644 TUITION AND FEES 900099 26693713 26693713 AUXILIARY SERVICES 900099 1954618 1855805 98813 SUMMER PROGRAMS 900099 1106277 1106277 29754608 1363574 1363574 7266231 5887637 1378594 1378594 1378594 150147 178733 -28586 -28586 36997834 29655795 0 2812395 4569980 4569980 32324 32324 886146 328985 475016 82145 16615655 11617861 4374742 623052 848111 583202 222240 42669 3990524 3203141 718257 69126 1225816 812902 361450 51464 19273 19273 77382 77382 116784 116784 305928 305928 374117 309543 64574 1262493 798738 410193 53562 860922 599783 261139 1272527 1272527 150146 132851 2063 15232 8391 8391 92715 92715 2389957 1911966 477991 322322 322322 BUILDINGS AND GROUNDS 3336542 1469276 1867266 SUMMER PROGRAMS 841939 841939 ENTERTAINMENT 120462 38705 9974 71783 EXEC SEARCH EXPENSE 67810 8129 59681 33109 52411 2290 -21592 39821375 28580648 10188712 1052015 2715698 2536282 1649451 3553367 1321988 1275571 602849 833527 185079 167511 505361 444739 79762529 43148521 36549859 36614008 61632876 56781765 105163161 102206770 1892592 2255722 2359532 2021690 4000000 5787476 611691 509617 8863815 10574505 X 31952606 29759617 64346740 61872648 96299346 91632265 105163161 102206770 -2823541 -1843540 0 X X 0 1 X 1 0 X 5109492 9173600 6149569 3338848 4529644 28301153 5109492 9173600 6149569 3338848 4529644 28301153 3027184 25273969 824861 939186 1072072 1269819 1363547 5469485 33770638 145246843 0.74840 0.75380 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 63911287 346468 763153 1749683 1987978 61283247 63282177 513664 3199497 1259441 1824610 63911287 59565023 749569 5640642 1077705 1595352 63282177 52790169 1668834 7890219 1062724 1721475 59565023 54060433 1877406 -206173 1008904 1932593 52790169 0.00000 1.00000 0.00000 0 0 555564 555564 62328354 27809874 34518480 12150128 11693868 456260 4728483 3644779 1083704 36614008 ANNUITIES PAYABLE 32919 LEASE PAYABLE 476698 509617 X 30622323 -1843540 -4602304 -6445844 37068167 116784 -187117 -70333 36997834 35289404 187117 187117 35102287 116784 4602304 4719088 39821375 PART III, LINE 4: SHADY SIDE ACADEMY MAINTAINS ARCHIVES OF OLD PHOTOS AND SCHOOL RECORDS OF THE ACADEMY. ALL OF THE CAMPUSES DISPLAY PHOTOS AND ARTWORK BY MAINLY FORMER STUDENTS OR ALUMNI. THESE ARCHIVES PRESERVE THE HISTORY OF THE ACADEMY AND FURTHER IT'S EXEMPT PURPOSE. PART V, LINE 4: THE ACADEMY'S ENDOWMENT CONSISTS OF VARIOUS INVESTMENT FUNDS ESTABLISHED PRIMARILY FOR SUPPORT OF THE ORGANIZATION'S MISSION. ITS ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE ACADEMY TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. INTERPRETATION OF RELEVANT LAW - THE TRUSTEES OF THE ACADEMY HAVE ELECTED TO BE GOVERNED BY THE COMMONWEALTH OF PENNSYLVANIA'S ACT 141 (ACT 141). ACT 141 IS A TOTAL RETURN POLICY THAT ALLOWS A NONPROFIT TO CHOOSE TO TREAT A PERCENTAGE OF THE AVERAGE MARKET VALUE OF THE ENDOWMENT'S PERMANENTLY RESTRICTED INVESTMENTS AS INCOME EACH YEAR. HOWEVER, THE LONG-TERM PRESERVATION OF THE REAL VALUE OF THE ASSETS MUST BE TAKEN INTO CONSIDERATION WHEN THE BOARD ELECTS THE AMOUNT. ON AN ANNUAL BASIS, THE EXECUTIVE COMMITTEE OF THE BOARD, IN WRITING, MUST ELECT A SPENDING RATE OF BETWEEN 2% AND 7%. IN ACCORDANCE WITH ACT 141, THE ACADEMY ANNUALLY TRANSFERS BETWEEN 5% AND 7% OF THE PREVIOUS THREE YEARS' MARKET VALUE AVERAGE OF THE RESTRICTED ENDOWMENT FUND. THIS PERCENTAGE IS APPLIED TO A 12-QUARTER AVERAGE MARKET VALUE OF THE INVESTMENTS AT JUNE 30 OF THE PREVIOUS YEAR. THE ACADEMY CLASSIFIES AS NET ASSETS RESTRICTED IN PERPETUITY ENDOWMENT FUNDS THE ORIGINAL AND SUBSEQUENT VALUE OF GIFTS DONATED TO THE ENDOWMENT. IN ACCORDANCE WITH ACT 141, THE ACADEMY HAS ADOPTED A WRITTEN INVESTMENT POLICY, OF WHICH A SECTION SPECIFICALLY RELATES TO THE ENDOWMENT FUND. THE ACADEMY CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO SET A SPENDING RATE: 1. PROTECTING THE CORPUS OF THE ENDOWMENT FUND. 2. PRESERVING THE SPENDING POWER OF THE ASSETS. 3. OBTAINING MAXIMUM INVESTMENT RETURN WITH REASONABLE RISK AND OPERATIONAL CONSIDERATION. 4. COMPLYING WITH APPLICABLE LAWS. PART X, LINE 2: THE ACADEMY IS A NOT-FOR-PROFIT ENTITY AND HAS BEEN RECOGNIZED AS TAX-EXEMPT PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ACADEMY HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS REQUIRING AN ACCRUAL OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THERE WERE NO INTEREST OR PENALTIES RECOGNIZED IN THE STATEMENTS OF ACTIVITIES FOR THE YEARS ENDED JUNE 30, 2020 AND 2019. MANAGEMENT BELIEVES THAT THE ACADEMY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR TAX YEARS PRIOR TO 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS/FINANCIAL AID -4,602,304. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -178,733. AUXILIARY EXPENSES NETTED AGAINST INCOME -8,384. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 178,733. AUXILIARY EXPENSES NETTED AGAINST INCOME 8,384. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS/FINANCIAL AID 4,602,304. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 EMPLOYMENT AND STUDENT HANDBOOKS, WEBSITE AND EMPLOYMENT ADS SCHEDULE E, PART I, LINE 6 THE ACADEMY RECEIVES DIRECT FUNDING FOR TEXTBOOKS, INSTRUCTIONAL MATERIALS AND EQUIPMENT THROUGH PENNSYLVANIA ACTS 195/90/35. THE ACADEMY RECEIVES GIFT FUNDING THAT IS MADE POSSIBLE THROUGH PARTICIPATION IN THE EITC PROGRAMS WHICH PROVIDES A TAX CREDIT TO THE BUSINESSES WHO PARTICIPATE IN THIS PROGRAM. 1 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES EDUCATIONAL PROGRAMS 4500 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, EQUADOR 0 0 PROGRAM SERVICES EDUCATIONAL PROGRAMS 7959 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES EDUCATIONAL PROGRAMS 6236 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES EDUCATIONAL PROGRAMS 5125 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 PROGRAM SERVICES EDUCATIONAL PROGRAMS 4500 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES EDUCATIONAL PROGRAMS 4004 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 1744524 0 0 0 0 0 0 1776848 0 1776848 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 1 5125 DIRECT DEPOSIT OR CHECK N/A N/A EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 2 6236 DIRECT DEPOSIT OR CHECK N/A N/A CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 1 4500 DIRECT DEPOSIT OR CHECK N/A N/A SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 1 4500 DIRECT DEPOSIT OR CHECK N/A N/A SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 1 4004 DIRECT DEPOSIT OR CHECK N/A N/A SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 2 7959 DIRECT DEPOSIT OR CHECK N/A N/A 1 0 1 1 0 0 PART I, LINE 2: THE ACADEMY AWARDS FINANCIAL AID TO QUALIFYING INDIVIDUALS TO OFFSET THE COST OF TUITION. THE PROCESS IS MANAGED BY THE ACADEMY'S BUSINESS OFFICE AND USES AN OUTSIDE PARTY TO ASSIST IN COLLECTING FINANCIAL INFORMATION FROM PARENTS. MOST FUNDING IS AWARDED BASED ON DEMONSTRATED ECONOMIC NEED AND FUNDING AVAILABLE. A VERY LIMITED NUMBER OF AWARDS ARE BASED ON OTHER MERIT CRITERIA. PART III ACCOUNTING METHOD: 1 FINANCIAL AID 211 4367551 N/A N/A TUITION DISCOUNTS 145 165479 N/A N/A AUGUSTUS SCHROEDER AWARDS 47 19000 N/A N/A JS DESIGNATED SCHOLAR 1 17950 N/A N/A PART I, LINE 2: THE ACADEMY AWARDS FINANCIAL AID TO QUALIFYING INDIVIDUALS TO OFFSET THE COST OF TUITION. THE PROCESS IS MANAGED BY THE ACADEMY'S BUSINESS OFFICE AND USES AN OUTSIDE PARTY TO ASSIST IN COLLECTING FINANCIAL INFORMATION FROM PARENTS. MOST FUNDING IS AWARDED BASED ON DEMONSTRATED ECONOMIC NEED AND FUNDING AVAILABLE. A VERY LIMITED NUMBER OF AWARDS ARE BASED ON OTHER MERIT CRITERIA. X X X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 AMY NIXON HEAD OF MIDDLE SCHOOL 202500 0 250 0 0 0 14490 0 22802 0 240042 0 0 0 BARTLEY P GRIFFITH JR PRESIDENT 152500 0 250 0 0 0 7320 0 58589 0 218659 0 0 0 GILBERT SCHNEIDER CHIEF FINANCIAL OFFICER 177169 0 250 0 0 0 12915 0 15903 0 206237 0 0 0 SOPHIE LAU HEAD OF SENIOR SCHOOL 121262 0 250 0 0 0 8841 0 60442 0 190795 0 0 0 PART I, LINE 1A THE PRESIDENT DOES HAVE A DISCRETIONARY SPENDING ACCOUNT BUT IT IS FOR SPECIFIC PURPOSES RELATED TO OPERATIONS, PROGRAMMING AND/OR PROFESSIONAL DEVELOPMENT. TO CONDUCT BUSINESS AND TO CARRY OUT THE MISSION OF THE ORGANIZATION, THE ORGANIZATION PROVIDES THE PRESIDENT WITH A MEMBERSHIP TO THE FOX CHAPEL GOLF CLUB. BARTLEY GRIFFITH, DEBRA MAUDER, EUGENE DEAL, AMY NIXON AND SOPHIE LAU RECEIVED NON-TAXABLE HOUSING PROVIDED BY SHADY SIDE ACADEMY IN 2019. PART I, LINE 7 AT THE DISCRETION OF THE ACADEMY BOARD OF TRUSTEES, THE PRESIDENT OF THE ACADEMY RECEIVES AN ANNUAL PERFORMANCE BONUS AND ALL EMPLOYEES RECEIVE AN ANNUAL BONUS. X 24 473600 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER SHOWN IN COLUMN (B) REPRESENTS THE NUMBER OF STOCK CONTRIBUTIONS THROUGH JUNE 30, 2020. FORM 990, PART III, LINE 3 DUE TO COVID, THE ACADEMY HAD TO MAKE MANY SIGNIFICANT CHANGES TO PROGRAM SERVICES. FIRST, IN-PERSON CLASSROOM INSTRUCTION CEASED IN MID-MARCH AND REMAINED A REMOTE LEARNING ENVIRONMENT THROUGH THE END OF THE ACADEMIC YEAR. SECOND, THE DORMITORIES WERE CLOSED TO STUDENTS FROM END OF MARCH THROUGH THE END OF THE ACADEMIC YEAR. THIRD, ALL RENTALS OF ACADEMY GROUNDS AND BUILDINGS CEASED IN MID-MARCH THROUGH THE REMAINDER OF THE FISCAL YEAR. FOURTH, MOST SUMMER PROGRAMS WERE CANCELED WITH THE EXCEPTION OF A FEW SUMMER SCHOOL CLASSES WHICH WERE ABLE TO PIVOT TO AN ONLINE FORMAT. FINALLY, ALL AFTER SCHOOL, IN-SERVICE DAY AND BREAK CAMPS WERE CANCELED FROM MID-MARCH THROUGH THE END OF THE FISCAL YEAR. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE, WHEN NECESSARY OR DESIRABLE BETWEEN MEETINGS OF THE BOARD, HAVE AND PERFORM ALL THE POWERS AND DUTIES OF THE BOARD; PROVIDED, HOWEVER, THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE ANY OF THE POWERS SPECIFICALLY RESERVED TO THE BOARD BY LAW OR THESE BY-LAWS OR THE POWER TO ALTER THE FUNDAMENTAL POLICIES OF THE BOARD. THE ESTABLISHMENT OF AN EXECUTIVE COMMITTEE AND THE DELEGATION THERETO OF POWER AND AUTHORITY SHALL NOT RELIEVE ANY TRUSTEE OF HIS FIDUCIARY RELATIONSHIP AND RESPONSIBILITY TO THE ACADEMY, AND EACH TRUSTEE SHALL DISCHARGE HIS DUTIES IN GOOD FAITH AND WITH THAT DILIGENCE, CARE AND SKILL WHICH AN ORDINARILY PRUDENT PERSON WOULD EXERCISE UNDER SIMILAR CIRCUMSTANCES. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES MARY ANNE HANNA LANG AND ANNIE HANNA ENGEL HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 7A AN INDIVIDUAL ELECTED PRESIDENT OF THE ALUMNI COUNCIL SHALL COMMENCE TO SERVE A THREE YEAR TERM AS TRUSTEE ON THE JULY 1 NEXT FOLLOWING THE ASSUMPTION OF OFFICE AS PRESIDENT OF THE ALUMNI COUNCIL. PURSUANT TO THE AFFILIATION AGREEMENT DATED AUGUST 11, 2016 BETWEEN FOX CHAPEL COUNTRY DAY SCHOOL INC. (HEREINAFTER REFERRED TO AS "FCCDS") AND THE ACADEMY, THE INDIVIDUAL WHO WAS THE PRESIDENT OF THE FCCDS BOARD OF TRUSTEES AS OF AUGUST 11, 2016 (IN CONSULTATION WITH THE HEAD OF SCHOOL OF FCCDS) SHALL ELECT (I) TWO TRUSTEES TO SERVE TERMS BEGINNING JULY 1, 2016, (II) TWO TRUSTEES TO SERVE TERMS BEGINNING JULY 1, 2017, (III) TWO TRUSTEES TO SERVE TERMS BEGINNING JULY 1, 2019 (WHICH TRUSTEES MAY BE THE SAME TRUSTEES ELECTED PURSUANT TO SECTION 1.10(A)(I)), AND (IV) TWO TRUSTEES TO SERVE TERMS BEGINNING JULY 1, 2020 (WHICH TRUSTEES MAY BE THE SAME TRUSTEES ELECTED PURSUANT TO SECTION 1.10(A)(II)) FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT AND BY THE AUDIT COMMITTEE. A COPY OF FORM 990 IS DISTRIBUTED TO BOARD MEMBERS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C AN EXPLANATION OF THE CONFLICT OF INTEREST POLICY IS PRESENTED TO ALL BOARD OF TRUSTEE MEMBERS AT THE START OF EACH SCHOOL YEAR. ANNUAL DISCLOSURE FORMS ARE DISTRIBUTED AND INFORMATION IS THEN SENT TO THE BUSINESS OFFICE WHERE IT IS REVIEWED AND MAINTAINED ON FILE THROUGHOUT THE YEAR. CONFLICTS OF INTEREST DISCLOSURE FORMS ARE FORWARDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE ACADEMY'S CHAIRMAN OF THE BOARD SELECTS CERTAIN BOARD MEMBERS TO COMPRISE A COMPENSATION COMMITTEE. THIS GROUP ANALYZES DATA FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND OTHER LOCAL SURVEYS TO DETERMINE APPROPRIATE SALARY RANGES FOR THE POSITIONS OF PRESIDENT AND CHIEF FINANCIAL OFFICER OF THE ACADEMY. IN ADDITION, THE ACADEMY ENGAGES THE SERVICES OF LOCAL LEGAL COUNSEL TO ASSIST IN THE REVIEW AND PREPARATION OF EMPLOYMENT CONTRACTS AND/OR AGREEMENTS. THE ACADEMY'S PRESIDENT ANALYZES DATA FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, THE PENNSYLVANIA ASSOCIATION OF INDEPENDENT SCHOOLS, AND OTHER LOCAL SURVEYS TO DETERMINE APPROPRIATE SALARY RANGES FOR OTHER KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 SHADY SIDE ACADEMY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY STATEMENT AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST THROUGH THE ACADEMY'S BUSINESS OFFICE. FORM 990, PART VII, EMERITI TRUSTEES WITH NO VOTING RIGHTS: G. NICHOLAS BECKWITH, III; PAUL BENEDUM, JR.; MICHAEL P. CASEY; FLOYD A. CEPHAS, SR.; MARY ELLEN COSTA; JOHN P. DAVIS, JR.; JOHN H. DEMMLER; DIANE M. FISHER; WILLIAM P. GETTY; LAWRENCE N. GUMBERG; STEPHEN F. HALPERN; KARL F. KRIEGER; J. STEPHEN LEE; ANNE V. LEWIS; W. THOMAS MCGOUGH, JR.; EDWIN F. SCHEETZ, JR.; SUSANNE C. WEAN; JAMES H. WOLF. FORM 990, PART XII, QUESTION 2C, FINANCIAL STATEMENTS AND REPORTING: AS A SUB-COMMITTEE OF THE FINANCE COMMITTEE, THE AUDIT COMMITTEE IS CHARGED WITH THE SELECTION OF AN OUTSIDE INDEPENDENT AUDIT FIRM. THIS IS REVIEWED ANNUALLY AND, BASED ON CONTRACT TERMS WITH THE CURRENT FIRM AT THE TIME, THE COMMITTEE DETERMINES WHEN TO NEGOTIATE CONTINUED RATES AND/OR TO REQUEST BIDS FROM OTHER FIRMS. PRIOR TO THE RELEASE OF THE FINAL FINANCIAL STATEMENTS THE AUDIT COMMITTEE MEETS WITH THE AUDIT TEAM FROM THE INDEPENDENT AUDIT FIRM AS WELL AS MANAGEMENT CHARGED WITH AUDIT RESPONSIBILITIES TO REVIEW AND DISCUSS THE DRAFT FINANCIAL STATEMENTS AND THE AUDIT PROCESS. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR. SHADY SIDE ACADEMY FOUNDATION 423 FOX CHAPEL ROAD PITTSBURGH PA 15238 251754941 INACTIVE PA 501(C)(3) LINE 12A, I SHADY SIDE ACADEMY 1 FOX CHAPEL COUNTRY DAY SCHOOL 620 SQUAW RUN ROAD EAST PITTSBURGH PA 15238 250952071 SUPPORTING ORG PA 501(C)(3) LINE 12A, I SHADY SIDE ACADEMY 1 POOLED INCOME FUND SPLIT-INTEREST TRUST PA N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0