2019-05-14T11:18:04-05:00 2018-06-30 061009205 BLUM SHAPIRO & COMPANY PC ONE INTERNATIONAL PLACE 16TH FLOOR BOSTON MA 02110 990 2017-07-01 060653118 GREENWICH ACADEMY INC GREE 2036258900 200 NORTH MAPLE AVENUE GREENWICH CT 06830 ANDREA SABITSANA CHIEF FINANCIAL OFFICER 2036258900 2019-05-12 1 LAURA J KENNEY P00202198 6177170831 2019-05-12 64.251.63.131 2019-05-12 14:25:29 ED P C2A8F68C24BA4106533A6CD8C72FD917E7C6626D C2A8F68C24BA4106533A6CD8C72FD917E7C6626D 2017 2019-02-21 02:37:17Z MOLLY KING 200 NORTH MAPLE AVENUE GREENWICH CT 06830 70650856 0 X WWW.GREENWICHACADEMY.ORG X 1924 CT GREENWICH ACADEMY IS AN INDEPENDENT COLLEGE-PREPARATORY DAY SCHOOL FORGIRLS AND YOUNG WOMEN THAT SEEKS TO FOSTER EXCELLENCE. ITS MISSION IS TO PROVIDE A CHALLENGING, COMPREHENSIVE EDUCATIONAL EXPERIENCE GROUNDED IN A RIGOROUS LIBERAL ARTS CURRICULUM WITHIN AN INCLUSIVE, DIVERSE COMMUNITY. THE SCHOOL'S OBJECTIVE IS TO DEVELOP GIRLS AND YOUNG WOMEN OF EXCEPTIONAL CHARACTER AND ACHIEVEMENT WHO DEMONSTRATE INDEPENDENCE, RESILIENCE, COURAGE, INTEGRITY AND COMPASSION. WE STRIVE, ABOVE ALL, TO HONOR OUR MOTTO, "TOWARD THE BUILDING OF CHARACTER." 31 30 217 340 813745 86222 6969267 14476577 36255869 36870074 2675986 1162150 817745 771229 46718867 53280030 6259144 3176513 0 0 23845271 28496317 0 0 2040401 14768478 16022987 44872893 47695817 1845974 5584213 218973355 232301777 43895950 44315304 175077405 187986473 GREENWICH ACADEMY IS AN INDEPENDENT COLLEGE PREPARATORY DAY SCHOOL FOR GIRLS AND YOUNG WOMEN THAT SEEKS TO FOSTER EXCELLENCE. FOR MORE INFORMATION SEE SCHEDULE O. 0 0 39032856 6451586 36870074 GREENWICH ACADEMY IS A COLLEGE PREPARATORY DAY SCHOOL SERVING GIRLS IN GRADES PRE-KINDERGARTEN THROUGH GROUP XII. ALL EXPENDITURES FOR COMPENSATION AND OTHER EXPENSES ARE IN SUPPORT OF INSTRUCTIONAL AND INSTITUTIONAL ACTIVITIES. THIS INCLUDES THE INSTRUCTION OF APPROXIMATELY 800 GIRLS BY 220 FULL TIME AND PART TIME FACULTY AND STAFF. 39032856 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 206 0 1 217 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 X 31 30 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X ANDREA SABITSANA 2035524408 200 NORTH MAPLE AVENUE GREENWICH CT 06830 THOMAS DUNN CHAIRMAN 15.00 X X 0 0 0 TIMOTHY ARMSTRONG TRUSTEE 1.00 X 0 0 0 CARLOS BRITOS TRUSTEE 1.00 X 0 0 0 JENNIFER BURRAWAY TRUSTEE 1.00 X 0 0 0 ALEXANDER CAPTAIN TRUSTEE 1.00 X 0 0 0 GRETCHEN CARLSON TRUSTEE 1.00 X 0 0 0 HAGAR HAJJAR CHEMALI '99 TRUSTEE 1.00 X 0 0 0 KIRSTEN DZIALGA TRUSTEE 1.00 X 0 0 0 ERIC ZHENHONG GUO TRUSTEE 1.00 X 0 0 0 MICHAEL A HYMAN TRUSTEE 1.00 X 0 0 0 ALEXANDER E JACKSON TRUSTEE 1.00 X 0 0 0 MARIANNE CHOLNOKY KAY '75 TRUSTEE 1.00 X 0 0 0 RENE M KERN SECRETARY 5.00 X X 0 0 0 SUSAN REYNOLDS LEHMAN TRUSTEE 1.00 X 0 0 0 SONNET G MCKINNON TRUSTEE 1.00 X 0 0 0 CHRISTIAN MEISSNER TRUSTEE 1.00 X 0 0 0 ANDRA WINOKUR NEWMAN '95 TRUSTEE 1.00 X 0 0 0 BARNETT D OSMAN VICE CHAIR 5.00 X X 0 0 0 JOSEPH OSNOSS TRUSTEE 1.00 X 0 0 0 CRAIG W PACKER TREASURER 5.00 X X 0 0 0 FREDERIC B POWERS III VICE CHAIR 5.00 X X 0 0 0 GREGORY T ROGERS TRUSTEE 1.00 X 0 0 0 HEATHER JOHNSON SARGENT '92 VICE CHAIR 5.00 X X 0 0 0 LAUREN BERKLEY SAUNDERS '92 VICE CHAIR 5.00 X X 0 0 0 MICHAEL S SCHAFTEL TRUSTEE 1.00 X 0 0 0 FRANCINE TRAMONTANO TRUSTEE 1.00 X 0 0 0 TIMOTHY VAN BIESEN TRUSTEE 1.00 X 0 0 0 JANETTE C R VAN DER WEIJDEN TRUSTEE 1.00 X 0 0 0 ROBERT R WAHL TRUSTEE 1.00 X 0 0 0 VALERIE WAYNE TRUSTEE 1.00 X 0 0 0 VICTORIA REDMOND WILLIAMS 94 AL PRE TRUSTEE 1.00 X 0 0 0 MOLLY KING HEAD OF SCHOOL 40.00 X 748594 0 264698 ANDREA SABITSANA CHIEF FINANCIAL OFFICER 40.00 X 285528 0 124302 DONNA BYRNES DIRECTOR OF ADVANCEMENT 40.00 X 308997 0 44496 MARK FEINER ASSOCIATE HEAD OF SCHOOL 40.00 X 372451 0 93834 REBECCA WALKER HEAD OF MIDDLE SCHOOL/ASST HOS 40.00 X 293766 0 136910 THOMAS SULLIVAN HEAD OF UPPER SCHOOL/ASST HOS 40.00 X 288704 0 85254 JON ROSS-WILEY HEAD OF LOWER SCHOOL 40.00 X 196090 0 115582 NINA HANLON DIRECTOR OF ENROLLMENT AND FINANCIAL AID 40.00 X 167048 0 33950 LAUREN DOWNS PHYSICAL EDUCATION 40.00 X 166037 0 14728 MELISSA ANDERSON CO-DIRECTOR OF COLLEGE COUNSELING 40.00 X 164854 0 124789 KATHERINE SHULZE DIRECTOR OF TECHNOLOGY 40.00 X 152514 0 121344 3144583 0 1159887 75 0 1 0 SODEXO PO BOX 360170 PITTSBURGH PA 15251 FACILITIES CONTRACT 2133166 FLIK-COMPASS GROUP 2400 YORKMONT ROAD CHARLOTTE NC 28217 DINING SERVICES 1163283 CEBULSKI CONSTRUCTION COMPANY INC 651 LINDLEY STREET BRIDGEPORT CT 06606 CONSTRUCTION 534876 OFFIT CAPITAL ADVISORS LLC 485 LEXINGTON AVENUE 24TH FL NEW YORK NY 10017 INVESTMENT MANAGEMENT ADVISORY 328451 SASAKI ASSOCIATES INC 64 PLEASANT STREET WATERTOWN MA 02472 MASTER PLANNING 200000 14 214136 14262441 867617 14476577 TUITION AND FEES 611710 33023034 33023034 OTHER PROGRAMS AND ACTIVITIES FEE 900099 3847040 3135438 711602 36870074 71040 71040 483757 132490 351267 351267 351267 17933099 16841989 1091110 1091110 1091110 33720 214136 56825 -23105 -23105 462562 339522 123040 123040 MISCELLANEOUS 900099 320027 102143 217884 320027 53280030 36158472 813745 1831236 3176513 3176513 3059234 2447387 458885 152962 381665 381665 16917663 13388969 2624593 904101 1298911 1029526 200193 69192 5549347 4954319 446271 148757 1289497 1026312 195940 67245 163733 163733 41999 41999 92600 92600 336761 336761 2005459 1169134 757373 78952 2877096 2564298 261016 51782 3163136 2967233 130341 65562 307261 276535 24581 6145 1237275 1237275 4025397 3622857 322032 80508 361717 354483 7234 OTHER PROGRAM EXPENSES 510982 510982 CAPITAL CAMPAIGN 342004 342004 PARENTS ASSOCIATION 221827 170056 51771 EARLY CHILDHOOD/SUMMER 199170 199170 136570 80681 41703 14186 47695817 39032856 6622560 2040401 2727 4192 32430890 36698051 14534152 8429909 662785 1357557 653718 540562 127720 155315 315247 319342 124593311 47025822 73171814 77567489 46156215 57122013 47877266 47031617 3040821 3075730 218973355 232301777 4161143 4321536 13953973 15097692 25780834 24896076 43895950 44315304 X 132136660 140065617 14603895 21175626 28336850 26745230 175077405 187986473 218973355 232301777 5584213 7324855 0 X 0 1 X 1 0 X 19586998 9197983 15412555 6935882 14476577 65609995 19586998 9197983 15412555 6935882 14476577 65609995 10856063 54753932 336575 472371 439795 583311 554797 2386849 158946 265537 253531 240202 86459 1004675 135596 166180 349148 267311 320027 1238262 70239781 169632718 0.77950 0.79990 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2013 AMOUNT: $ 135,596. 2014 AMOUNT: $ 166,180. 2015 AMOUNT: $ 349,148. 2016 AMOUNT: $ 267,311. 2017 AMOUNT: $ 320,027. 102935211 9981829 7957923 3969275 116905688 92052678 4107173 10649360 3874000 102935211 92653580 5106073 -1381903 4325072 92052678 83944580 8627439 5644525 5562964 92653580 79043477 13813300 4601106 13513303 83944580 0.69690 0.22880 0.07430 0 0 21418621 21418621 89484851 38898375 50586476 6608726 5429435 1179291 7081113 2698012 4383101 77567489 FIXED INCOME 14967176 F GLOBAL EQUITY 16122163 F MULTISTRATEGY HEDGE FUNDS 8162574 F REAL ASSETS 2822595 F PRIVATE EQUITY 4957109 F 47031617 X 57499168 7324855 528837 7853692 49645476 458041 3176513 3634554 53280030 44590100 528837 528837 44061263 458041 3176513 3634554 47695817 PART V, LINE 4: THE ACADEMY'S ENDOWMENTS CONSIST OF APPROXIMATELY 56 INDIVIDUAL DONOR RESTRICTED FUNDS AND 24 BOARD DESIGNATED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ACADEMY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ENDEAVOR TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE BOARD OF TRUSTEES ADOPTED A SPENDING POLICY THAT FUNDS DEBT SERVICE REQUIREMENTS AND FUNDS OPERATING EXPENSES. PART X, LINE 2: UNCERTAIN TAX POSITIONS THE ACADEMY HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE WITH RESPECT TO THE ACADEMY'S CONTINUED QUALIFICATION UNDER SECTION 501(A) AS A 501(C)(3) TAX-EXEMPT ORGANIZATION. THE ACADEMY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE ACADEMY'S PURPOSE IS SUBJECT TO TAX UNDER THE INTERNAL REVENUE CODE SECTION 511. INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS WOULD BE RECOGNIZED AS PART OF THE INCOME TAX PROVISION AND WOULD INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENTS OF FINANCIAL POSITION. THE ACADEMY DID NOT HAVE ANY MATERIAL UNRELATED BUSINESS INCOME TAX LIABILITY AT JUNE 30, 2018 AND 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: BOOKSTORE COST OF GOODS SOLD 339,522. RENTAL EXPENSES 132,490. SPECIAL EVENT EXPENSES 56,825. OTHER CHANGES IN UNRESTRICTED NET ASSETS PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,176,513. PART XII, LINE 2D - OTHER ADJUSTMENTS: BOOKSTORE COST OF GOODS SOLD 339,522. RENTAL EXPENSES 132,490. SPECIAL EVENT EXPENSES 56,825. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,176,513. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 GREENWICH ACADEMY HAS OUR NONDISCRIMINATORY POLICY ON THE INTERNET, IN OUR EMPLOYMENT AND ADMISSION APPLICATIONS AND EMPLOYEE HANDBOOK. IN OUR STUDENT HANDBOOK WE HAVE STATEMENTS ABOUT DIVERSITY AND MUTUAL RESPECT. AS A MEMBER OF AN ASSOCIATION OF SCHOOLS, GREENWICH ACADEMY IS INCLUDED IN AN ADVERTISEMENT IN THE NEW YORK TIMES REGARDING OUR NON-DISCRIMINATORY POLICY ANNUALLY. CAYMAN ISLANDS INVESTMENTS 30607273 0 0 0 0 0 0 30607273 0 30607273 1 0 1 1 1 0 PART I, LINE 3: METHOD OF ACCOUNTING INVESTMENTS ARE REPORTED ON SCHEDULE F, LINE 3, COLUMN (F) AT NET ASSET VALUE, CONSISTENT WITH REPORTING FOR FINANCIAL STATEMENT PURPOSES. GAPA BENEFIT 192326 166076 26250 17139 30000 4631 CCPA BENEFIT 55530 48060 7470 1500 2300 1255 247856 214136 33720 18639 32300 5886 56825 -23105 1 FINANCIAL AID 82 3176513 N/A N/A N/A N/A PART I, LINE 2: MONITORING GRANTS IN KEEPING WITH THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS PRINCIPLES OF GOOD PRACTICE FOR FINANCIAL AID, GREENWICH ACADEMY REQUIRES THE PARENTS OF EACH FINANCIAL AID APPLICANT TO SUBMIT A DETAILED FINANCIAL STATEMENT IN WRITING ANNUALLY. EVERY FAMILY CONTRIBUTES TOWARDS THE COST OF EDUCATING THEIR DAUGHTER AT GREENWICH ACADEMY. IN MOST CASES, IT IS ASSUMED THAT BOTH PARENTS WILL HOLD FULL-TIME EMPLOYMENT TO FUND THESE EDUCATIONAL COSTS TO THE BEST OF THEIR ABILITIES BEFORE SEEKING FINANCIAL AID FROM THE SCHOOL. FULL TUITION SCHOLARSHIPS ARE NOT GRANTED. THE AMOUNT AND NUMBER OF FINANCIAL AID GRANTS ARE SUBJECT TO THE AVAILABILITY OF FUNDS. COMPLETION OF THE PARENTS' FINANCIAL STATEMENT (PFS) BY DECEMBER 15 IS A PREREQUISITE FOR CONSIDERATION IN THE FIRST ROUND OF GRANT ALLOCATIONS. IN ADDITION, CURRENT FORM 1040 INCOME TAX RETURNS, INCLUDING SCHEDULES, AND W-2 FORMS MUST BE SUBMITTED. FINANCIAL AID IS GRANTED FOR ONE SCHOOL YEAR AT A TIME. NEW APPLICATION FORMS MUST BE FILED YEARLY BY DECEMBER 15. FINANCIAL AID IS RESTRICTED TO FAMILIES WHO ARE UNITED STATES CITIZENS OR PERMANENT RESIDENTS. DOCUMENTATION FROM THE STUDENT AND THE PARENTS IS REQUIRED FOR VERIFICATION OF CITIZENSHIP OR PERMANENT RESIDENCY. IF FINANCIAL CIRCUMSTANCES CHANGE, IT IS ASSUMED THAT PARENTS WILL NOTIFY THE DEAN OF FINANCIAL AID AND WILL TAKE RESPONSIBILITY FOR AN ADJUSTED AMOUNT OF THEIR DAUGHTER'S TUITION AND FEES. GREENWICH ACADEMY MONITORS THE USE OF SCHOLARSHIP FUNDS BY CREDITING THE AMOUNT OF THE SCHOLARSHIPS TO THE STUDENT'S ACCOUNT. REFUNDS ARE NOT ISSUED FOR UNUSED FUNDS. X X 1 1 X X X X 0 1 0 0 0 0 0 1 0 MOLLY KING HEAD OF SCHOOL 551357 0 175000 0 22237 0 184750 0 79948 0 1013292 0 0 0 ANDREA SABITSANA CHIEF FINANCIAL OFFICER 285528 0 0 0 0 0 29650 0 94652 0 409830 0 0 0 DONNA BYRNES DIRECTOR OF ADVANCEMENT 308413 0 0 0 584 0 30900 0 13596 0 353493 0 0 0 MARK FEINER ASSOCIATE HEAD OF SCHOOL 371984 0 0 0 467 0 33750 0 60084 0 466285 0 0 0 REBECCA WALKER HEAD OF MIDDLE SCHOOL/ASST HOS 293339 0 0 0 427 0 25170 0 111740 0 430676 0 0 0 THOMAS SULLIVAN HEAD OF UPPER SCHOOL/ASST HOS 288704 0 0 0 0 0 25170 0 60084 0 373958 0 0 0 JON ROSS-WILEY HEAD OF LOWER SCHOOL 196090 0 0 0 0 0 18408 0 97174 0 311672 0 0 0 NINA HANLON DIRECTOR OF ENROLLMENT AND FINANCIAL 167048 0 0 0 0 0 14900 0 19050 0 200998 0 0 0 LAUREN DOWNS PHYSICAL EDUCATION 166037 0 0 0 0 0 12733 0 1995 0 180765 0 0 0 MELISSA ANDERSON CO-DIRECTOR OF COLLEGE COUNSELING 164854 0 0 0 0 0 14991 0 109798 0 289643 0 0 0 KATHERINE SHULZE DIRECTOR OF TECHNOLOGY 152514 0 0 0 0 0 15850 0 105494 0 273858 0 0 0 PART I, LINE 1A HOUSING: THE GREENWICH ACADEMY PROVIDES ON-CAMPUS HOUSING AS A CONDITION OF EMPLOYMENT FOR MOLLY KING, HEAD OF SCHOOL. THE FAIR VALUE OF THE HOUSING IS INCLUDED AS A NONTAXABLE BENEFIT ON SCHEDULE J, PART II, COLUMN (D). PERSONAL SERVICES: PER CONTRACT, A HOUSEKEEPER IS PROVIDED TO THE HEAD OF SCHOOL TO MAINTAIN THE HOUSE FOR SPECIAL EVENTS. THIS IS NOT TREATED AS TAXABLE INCOME. PART I, LINE 4B NON-QUALIFIED RETIREMENT PLANS: DURING THE YEAR ENDED JUNE 30, 2018 THE ACADEMY MADE A PAYMENT TO MOLLY H. KING'S NONQUALIFIED RETIREMENT PLAN IN THE AMOUNT OF $139,750. AS REQUIRED, THIS HAS BEEN REPORTED ON SCHEDULE J, PART II, COLUMN (C). THE NONQUALIFIED DEFERRED COMPENSATION PLAN HAS A SUBSTANTIAL RISK OF FORFEITURE. PART I, LINE 7 NON-FIXED PAYMENTS: THE HEAD OF SCHOOL, MOLLY H. KING, IS ELIGIBLE AT THE END OF EACH ACADEMIC YEAR BASED UPON THE ACHIEVEMENT OF AGREED UPON GOALS FOR A BONUS TO BE DETERMINED AT THE BOARD'S DISCRETION. A CHEFA 2007 - SERIES E 060806186 20774ULB9 2007-03-22 30456648 REFUND OF 2001 BOND ISSUE 0 0 0 A 30456648 397692 960749 29098207 2002 0 1 1 1 A 0 0 1 0 0 0 0 0 1 A 1 SCHEDULE K, PART II, LINE 15 OF THE PROCEEDS FROM THE SERIES E BOND ISSUED ON MARCH 22, 2007, $29,098,207 WAS AN ADVANCED REFUNDING OF 2001 SERIES B BONDS. 30646 FINANCIAL AID EDUCATION ELIZABETH FEINER SPOUSE OF KEY EMPLOYEE, MARK FEINER 207019 COMPENSATION 0 JOAN SLATTERY SPOUSE OF KEY EMPLOYEE, THOMAS SULLIVAN 174647 COMPENSATION 0 X 47 867617 FMV 0 1 0 PART I, COLUMN (B): LINE 9(B) NUMBER OF CONTRIBUTIONS THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE GREENWICH ACADEMY ARE THE PARENTS AND GUARDIANS OF CHILDREN CURRENTLY ENROLLED IN THE SCHOOL. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT BETWEEN 21 AND 32 INDIVIDUALS TO SERVE ON THE BOARD OF TRUSTEES TO EXERCISE GENERAL OVERSIGHT OF THE MANAGEMENT OF THE BUSINESS AND PROPERTY OF THE SCHOOL. IN ADDITION, THE ALMUNAE ASSOCIATION PRESIDENT AND PARENTS ASSOCIATION PRESIDENT SERVE ON THE BOARD OF TRUSTEES. REGULAR BOARD MEETINGS ARE HELD, AS WELL AS AN ANNUAL BUSINESS MEETING THAT IS OPEN TO ALL MEMBERS AT THE OPENING OF SCHOOL EVERY YEAR. THE PURPOSE OF THIS MEETING IS TO ELECT ANY NEW MEMBERS OF THE BOARD OF TRUSTEES AND TO REVIEW THE PRIOR YEAR'S FINANCIAL OPERATIONS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING POWERS OF THE CORPORATION SHALL BE DEEMED NONDELEGABLE AND THE EXERCISE THEREOF IS RESERVED TO THE MEMBERS OF THE CORPORATION: (A) TO AMEND THE CERTIFICATE OF INCORPORATION. (B) TO DISSOLVE OR MERGE THE CORPORATION, BUT ONLY UPON THE AFFIRMATIVE VOTE OF TWO-THIRDS OF THE MEMBERS OF THE CORPORATION ACTING IN PERSON OR BY PROXY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW THE MEMBERS OF THE AUDIT COMMITTEE WILL RECEIVE A COPY AND REVIEW THE COMPLETE FORM 990 WITHOUT SCHEDULE B - SCHEDULE OF CONTRIBUTORS. A COPY OF THE COMPLETE AND FINAL FORM 990, INCLUDING REQUIRED SCHEDULES, WILL BE PROVIDED TO THE CHAIR OF THE BOARD, THE CHAIR OF THE AUDIT COMMITTEE AND THE HEAD OF SCHOOL. THE CHAIR OF THE BOARD WILL REPORT ANYTHING OF SIGNIFICANCE TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY COVERING ALL TRUSTEES, OFFICERS, AND EMPLOYEES. THE POLICY REQUIRES, AMONG OTHER THINGS, THAT NO INDIVIDUAL MAY PARTICIPATE IN DISCUSSIONS OR DECISIONS ON ANY MATTER IN WHICH HE OR SHE HAS A MATERIAL FINANCIAL INTEREST. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR BOARD DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS OR TO RESPOND TO QUESTIONS. ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO CERTIFY COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS AND TO INDICATE WHETHER THE ORGANIZATION DOES BUSINESS WITH AN ENTITY IN WHICH THEY HAVE A MATERIAL FINANCIAL INTEREST. FORM 990, PART VI, SECTION B, LINE 15A OFFICER COMPENSATION REVIEW IN SETTING THE COMPENSATION FOR THE HEAD OF THE SCHOOL, THE GREENWICH ACADEMY'S EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, COMPRISED OF INDEPENDENT PERSONS, PERIODICALLY CONDUCTS A REVIEW TO DETERMINE THE GOING MARKET RATE OF COMPENSATION RANGES FOR COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS BY REFERENCE TO COMPENSATION SURVEYS, OTHER ORGANIZATIONS' FORM 990 AND COMPENSATION CONSULTANTS. THE GREENWICH ACADEMY SETS COMPENSATION WITHIN THE RANGE OF THE GOING MARKET RATE. NO INDIVIDUAL HAVING A CONFLICT OF INTEREST IS PERMITTED TO PARTICIPATE IN THE REVIEW OR DECISION OF COMPENSATION. THE ORGANIZATION MAINTAINS RECORDS OF THE DELIBERATIONS AND DECISIONS REGARDING COMPENSATION. THIS PROCESS WAS LAST UNDERTAKEN IN MAY 2018. GREENWICH ACADEMY'S POLICIES FOR SETTING THE COMPENSATION FOR THE HEAD OF THE SCHOOL MEET ALL OF THE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENT REVIEW POLICY THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.