2018-04-26T13:45:09-05:00 2017-06-30 GRANT THORNTON LLP 1617 N WATERFRONT PKWY STE 100 WICHITA KS 67206 990 2016-07-01 750800650 Hockaday School % WHITNEY JOHNSON HOCK 2143636311 11600 Welch Road Dallas TX 75229 DAVID HAEMISEGGER CHAIR 2143636311 2018-04-25 true Rebecca Zecha P00648970 3162653231 2018-03-16 209.220.64.52 48105820181165000001 2018-04-26 P EE0445AAFC7BCEACA6A025D08834C35C00D758E8 1974B50D8FA3141F55B31DB7AF3A083643A93399 2016 2021-01-29 14:40:06Z DAVID HAEMISEGGER 11600 Welch Road Dallas TX 75229 43080718 false X www.hockaday.org X 1913 TX THE HOCKADAY SCHOOL, FOUNDED IN 1913, PROVIDES A COLLEGE PREPARATORY EDUCATION FOR GIRLS OF STRONG POTENTIAL WHO MAY BE EXPECTED TO ASSUME POSITIONS OF LEADERSHIP. 49 48 546 1000 20847 10848466 5292444 32279096 33631658 1508765 1900790 807045 558982 45443372 41383874 3384485 3480455 0 0 25247110 25250963 3000 1486 2100519 12869269 14220814 41503864 42953718 3939508 -1569844 254839443 268506086 54334805 55818078 200504638 212688008 BELIEVING IN THE LIMITLESS POTENTIAL OF GIRLS, HOCKADAY SCHOOL DEVELOPS RESILIENT, CONFIDENT WOMEN WHO ARE EDUCATED AND INSPIRED TO LEAD LIVES OF PURPOSE AND IMPACT. false false 35225444 3480455 33631658 THE SCHOOL PROVIDED A COLLEGE PREPARATORY EDUCATION FOR LOWER, MIDDLE, AND UPPER SCHOOL GIRLS WITH STRONG POTENTIAL WHO MAY BE EXPECTED TO ASSUME POSITIONS OF RESPONSIBILITY AND LEADERSHIP IN LATER YEARS. THERE WERE 1,015 DAY STUDENTS AND 74 RESIDENCE STUDENTS FOR THE 2016-2017 ACADEMIC YEAR. IN ADDITION, THE SCHOOL PROVIDED EDUCATIONAL PROGRAMS IN THE SUMMER AND AFTER SCHOOL. 35225444 true true false false false false false true false true true true false false true true true false true false true false true false true true false false true true true false false false false false false true false false true true false false false false false false false false true X 185 1 true 546 true true true false false false false true true false false false false X 49 48 false false false false false false false true true true false true true true true true true true true false AK MD MA NH OR X WHITNEY JOHNSON 2143636311 11600 WELCH ROAD Dallas TX 75229 X David Haemisegger Chair, Compensation Chair 15.0 0.0 X X 0 0 0 Barbara Glazer Rosenblatt Board Chair-Elect 5.0 0.0 X X 0 0 0 Jennifer Mosle Vice Chair, Officer Chair 5.0 0.0 X X 0 0 0 George Lamb Treasurer, Finance Chair 5.0 0.0 X X 0 0 0 Kathryn Walker Francis Secretary 5.0 0.0 X X 0 0 0 Sandy Schmitz Executive Committee Chair 5.0 0.0 X X 0 0 0 Juan Suarez Audit & Ethics Chair 5.0 0.0 X 0 0 0 Maryann Sarris Mihalopoulos Board Gov. & Leadership Chair 5.0 0.0 X X 0 0 0 Kathy Crow Educ. & Student Life Chair 5.0 0.0 X 0 0 0 Richard S Rogoff Employee Benefits Chair 5.0 0.0 X 0 0 0 Shawna Nesbitt Strategic Planning Chair 5.0 0.0 X 0 0 0 Mary Ann Alhadeff Trustee 3.0 0.0 X 0 0 0 Carrie Moore Becker Trustee 3.0 0.0 X 0 0 0 J Keith Benedict Trustee 3.0 0.0 X 0 0 0 Herbert Buford Jr Trustee 3.0 0.0 X 0 0 0 Courtney Flanagan Trustee Ex Officio 3.0 0.0 X 0 0 0 Kelli Ford Trustee 3.0 0.0 X 0 0 0 Katharine Friguletto Trustee Ex Officio 3.0 0.0 X 0 0 0 Mandy Ginsberg Trustee 3.0 0.0 X 0 0 0 Rosalind Grover Trustee 3.0 0.0 X 0 0 0 Marjorie Hass Trustee 3.0 0.0 X 0 0 0 Ariana Held Trustee Ex Officio 3.0 0.0 X 0 0 0 Elizabeth Helfrich Trustee Ex Officio 3.0 0.0 X 0 0 0 Arnold Holtberg Trustee 3.0 0.0 X 0 0 0 Rajani Kapu Trustee 3.0 0.0 X 0 0 0 Charlene Cline Marsh Trustee 3.0 0.0 X 0 0 0 Casey McManemin Trustee 3.0 0.0 X 0 0 0 Anna McPhail Trustee 3.0 0.0 X 0 0 0 Nick Merrick Trustee 3.0 0.0 X 0 0 0 Peggy Black Meyer Trustee 3.0 0.0 X 0 0 0 Monty Montgomery Trustee 3.0 0.0 X 0 0 0 Rick O'Brien Trustee 3.0 0.0 X 0 0 0 Maria Martineau Plankinton Trustee 3.0 0.0 X 0 0 0 Pam Quarterman Trusteee 3.0 0.0 X 0 0 0 Mickey Quinones Trustee 3.0 0.0 X 0 0 0 Jennifer Sampson Trustee 3.0 0.0 X 0 0 0 Samantha Simons Trustee 3.0 0.0 X 0 0 0 Jacquelin Sewell Trustee 3.0 0.0 X 0 0 0 Shannon Thompson Trustee 3.0 0.0 X 0 0 0 Edward M Ackerman Life Trustee 3.0 0.0 X 0 0 0 Ruth Altshuler Life Trustee 3.0 0.0 X 0 0 0 Linda Custard Life Trustee 3.0 0.0 X 0 0 0 Lyda Hill Life Trustee 3.0 0.0 X 0 0 0 James Hoak Life Trustee 3.0 0.0 X 0 0 0 Schatzie Lee Life Trustee 3.0 0.0 X 0 0 0 Margaret McDermott Life Trustee 3.0 0.0 X 0 0 0 Kathryn Priddy Life Trustee 3.0 0.0 X 0 0 0 Ellen Higginbotham Rogers Life Trustee 3.0 0.0 X 0 0 0 Barney Young Life Trustee 3.0 0.0 X 0 0 0 Jamiel Akhtar Investment Chair 5.0 0.0 X 0 0 0 Elizabeth Lee Interim Head of School 50.0 0.0 X 428449 0 21385 JT Coats CFO 50.0 0.0 X 257307 0 25864 Blair Lowry Assistant Head of School 50.0 0.0 X 172810 0 24367 Debby Spradley Director of Development 50.0 0.0 X 191902 0 21559 Linda Kramer Head of Middle School 50.0 0.0 X 171173 0 13876 Terry Murray Head of Upper School 50.0 0.0 X 155208 0 22915 Barbara Fishel Dean of Studies 40.0 0.0 X 151908 0 19748 Jason Curtis Director of Technology 40.0 0.0 X 138144 0 27685 Kim Wargo Former Head of School 0.0 0.0 X 362080 0 15447 2028981 0 192846 20 true true false Lee Lewis Construction Inc 17177 Preston Road Suite 160 DALLAS TX 75248 Construction 4901391 SAGE Dining Services 1402 York Road LUTHERVILLE MD 21093 Food Mgmt 2064280 Netsync Network Solutions Inc 2500 W Loop S Suite 410 HOUSTON TX 77027 Technology 324816 Siemens Industry Inc PO Box 2134 CAROL STREAM IL 60132 Fire Protection 311230 Pritchard Associates Inc 2121 N Akard Street Suite 100 DALLAS TX 75201 Project Mgmt 241768 11 X 271970 5020474 282916 5292444 TUITION 611110 25836620 25836620 BOARDING & LUNCH 721310 3995310 3995310 EDUCATIONAL FEES 611110 2031871 2031871 EXTENDED SERVICES 611710 1598517 1598517 OTHER PROGRAM SERVICE REVENUE 900099 169340 169340 33631658 1858820 20185 1838635 0 0 75413 13995 61418 0 61418 61418 87867 681787 88760 638924 -893 42863 41970 41970 641655 271970 589707 51948 51948 41950 0 41950 41950 469902 365458 104444 662 103782 CHILD DEVELOPMENT CENTER 611110 299222 299222 299222 41383874 33631658 20847 2438925 X 0 3266595 3266595 213860 213860 0 1261684 1261684 0 18877779 16454515 1519789 903475 1243409 992698 197732 52979 2543750 2290389 128249 125112 1324341 1074778 192171 57392 0 68997 68997 75298 75298 0 1486 1486 0 65073 65073 567374 288085 279289 144123 99569 32711 11843 557325 503550 53775 0 1052026 908869 95438 47719 69151 65108 4043 0 361256 176631 152730 31895 700171 595145 70017 35009 0 3643162 3096688 364316 182158 379495 379495 FOOD SERVICE 1982869 1982869 INSTRUCTIONAL SUPPLIES 1323508 1323508 SUMMER SCHOOL 971804 971804 MAINTENANCE AND GROUNDS 902566 767181 90257 45128 1356616 506795 526830 322991 42953718 35225444 5627755 2100519 X 2120 3361 31783338 35819988 12055080 5178392 5095117 5451654 0 0 0 0 0 0 324067 167882 594223 269572 121440725 52250592 69039576 69190133 43788494 52117008 92157428 100308096 0 0 0 0 0 0 254839443 268506086 9509874 4732052 0 0 28248902 29911619 12620000 13362089 0 0 0 0 3300000 7229697 0 0 656029 582621 54334805 55818078 X 79597675 88059997 59522851 62802333 61384112 61825678 200504638 212688008 254839443 268506086 -1569844 13753214 X false true X true false X 16001992 15959134 10416506 10848466 5292444 58518542 0 0 16001992 15959134 10416506 10848466 5292444 58518542 8633668 49884874 3257553 2413987 2530379 1574205 1934233 11710357 0 0 0 0 0 0 1884040 2206501 1967226 1952167 1452729 9462663 79691562 154165889 0.62597 0.64355 X PUBLIC SUPPORT TEST SCHEDULE A, PART II PER THE INSTRUCTIONS FOR FORM 990, PART IV, LINE 2, HOCKADAY SCHOOL HAS COMPLETED AND MET THE SCHEDULE A, PART II SUPPORT TEST REQUIREMENTS. AS A RESULT, HOCKADAY SCHOOL QUALIFIES FOR THE SPECIAL RULE OF LIMITING CONTRIBUTIONS REPORTED ON SCHEDULE B, PARTS I & II. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 805484 X false 136348061 8341815 15990722 1521617 5907282 405994 152845705 146176138 1716266 -3256825 1623497 6125879 538142 136348061 144831504 7576804 1746919 1510739 5950293 518057 146176138 132773386 -197372 20061897 1463108 5771182 572117 144831504 121517044 3712374 15038208 1450262 5510470 533508 132773386 0.22290 0.40390 0.37320 false false 357723 357723 103077581 38889238 64188343 4892623 3494338 1398285 13112798 9867016 3245782 69190133 GLOBAL EQUITY 43461459 F ABSOLUTE RETURN 40397200 F REAL ASSETS 8390542 F PRIVATE EQUITY 7918895 F FIXED INCOME 140000 F 100308096 0 ASSET RETIREMENT OBLIGATION 403502 DEPOSITS 179119 582621 X 52619118 13753214 282668 979039 15014921 37604197 3779677 3779677 41383874 40435748 282668 979039 1261707 39174041 3779677 3779677 42953718 DESCRIPTION OF ORGANIZATION'S COLLECTIONS PART III, LINE 4 OVER A PERIOD OF TIME, THE SCHOOL HAS RECEIVED CONTRIBUTIONS OF WORKS OF ART AND FURNISHINGS TO BE EXHIBITED IN VARIOUS LOCATIONS ON THE CAMPUS. THESE ITEMS HAVE BEEN CAPITALIZED AS COLLECTIONS. THE COLLECTION NOT ONLY ENHANCES THE AESTHETIC ENVIRONMENT OF THE SCHOOL; IT SUPPORTS THE CURRICULUM OF THE SCHOOL BY MAKING ART AVAILABLE TO STUDENTS. THE COLLECTIONS ARE RECORDED AT APPRAISED VALUE WHEN DONATED. THE SCHOOL UNDERTAKES TO CARE FOR, PROTECT, AND PRESERVE SUCH CONTRIBUTED WORKS OF ART AND FURNISHINGS, AND THE BOARD HAS ADOPTED A POLICY TO USE PROCEEDS OF DEACCESSION OR INSURANCE RECOVERIES FOR THE SOLE PURPOSE OF ACQUISITION OF OTHER SUCH WORKS OF ART AND FURNISHINGS. COLLECTION ITEMS ARE INSPECTED PERIODICALLY AND CLEANED AND REPAIRED AS REQUIRED. INTENDED USES OF ENDOWMENT FUNDS PART V, LINE 4 THE SCHOOL MANAGES THE ENDOWMENT FUND TO PRESERVE THE REAL PURCHASING POWER FOR THE FUND WHILE PROVIDING A PREDICTABLE, STABLE, AND CONSTANT STREAM OF EARNINGS CONSISTENT WITH THE SCHOOL'S SPENDING NEEDS. THE ENDOWMENT INVESTMENT POLICY REDUCES THE ENDOWMENT DRAW SPENDING POLICY BY TEN BASIS POINTS EACH YEAR OVER A FIVE YEAR PERIOD: FROM 5.0% IN 2016, TO 4.5% IN 2021, AND FOR EACH YEAR THEREAFTER. ACCORDINGLY, THE CURRENT SPENDING POLICY FOR 2017 IS A MAXIMUM OF 4.9% OF A THREE YEAR MOVING AVERAGE MARKET VALUE OF THE TOTAL ENDOWMENT FUND ASSETS WITH THE EXCEPTION OF A SPECIFIC ENDOWMENT WHICH HAS DONOR RESTRICTIONS LIMITING SPENDING TO 4.0%. THE ENDOWMENT FUND SUPPORTS THE GENERAL OPERATIONS OF THE SCHOOL INCLUDING FACULTY SALARIES, FACULTY/STAFF PROFESSIONAL DEVELOPMENT, STUDENT FINANCIAL AID, LIBRARY SERVICES, AND STUDENT PROGRAMS. FIN 48 (ASC 740) FOOTNOTE PART X, LINE 2 THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE ("IRC") OF 1986, AS AMENDED, AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE IRC, AS EVIDENCED BY THE SCHOOLS DETERMINATION LETTER DATED OCTOBER 1938. THE SCHOOL HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER IRC SECTIONS 509(A)(1), AND AS SUCH, CONTRIBUTIONS TO THE SCHOOL QUALIFY FOR DEDUCTION AS CHARITABLE CONTRIBUTIONS. HOWEVER, INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE SCHOOLS EXEMPT PURPOSE IS SUBJECT TO TAX UNDER IRC SECTION 511. THE SCHOOL DID NOT HAVE ANY MATERIAL UNRELATED BUSINESS INCOME TAX LIABILITY OR EXPENSE FOR THE YEARS ENDED JUNE 30, 2017 AND 2016. THE SCHOOL HAS CONCLUDED THAT IT DOES NOT HAVE ANY UNRECOGNIZED TAX BENEFITS RESULTING FROM CURRENT OR PRIOR PERIOD TAX POSITIONS. THE SCHOOL DOES NOT HAVE ANY OUTSTANDING INTEREST OR PENALTIES, AND NONE HAVE BEEN RECORDED IN THE STATEMENT OF ACTIVITIES FOR THE YEARS ENDED JUNE 30, 2017 OR 2016. RECONCILIATION OF REVENUE PART XI, LINES 2D & 4B LINE 2D RENTAL ACTIVITY EXPENSES 13,995 FUNDRAISING (EVENT) EXPENSES 589,707 COST OF GOODS SOLD 365,458 INVESTMENT FEES NETTED AGAINST REVENUE 9,876 ROUNDING 3 ---------- TOTAL $ 979,039 LINE 4B GRANTS NETTED AGAINST REVENUE 3,480,455 CHILDCARE INCOME NETTED AGAINST EXPENSE 299,222 ------------ TOTAL $ 3,779,677 RECONCILIATION OF EXPENSES PART XII, LINES 2D & 4B LINE 2D RENTAL ACTIVITY EXPENSES 13,995 FUNDRAISING (EVENT) EXPENSES 589,707 COST OF GOODS SOLD 365,458 INVESTMENT FEES NETTED AGAINST REVENUE 9,876 ROUNDING 3 ---------- TOTAL $ 979,039 LINE 4B GRANTS NETTED AGAINST REVENUE 3,480,455 CHILDCARE INCOME NETTED AGAINST EXPENSE 299,222 ------------ TOTAL $ 3,779,677 true true true true true true true false false false false false false false false false false true PUBLICATION OF RACIALLY NONDISCRIMINATORY POLICY PART I, LINE 3 THE SCHOOL PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY IN THE EDUCATION ISSUE OF THE DALLAS MORNING NEWS AT LEAST TWICE ANNUALLY. IN ADDITION, THE POLICY IS PRINTED ON ALL ADMISSION MATERIALS. true North America Grantmaking Student Financial Aid 95811 Sub-Saharan Africa Grantmaking Student Financial Aid 57156 Central America and the Caribbean Grantmaking Student Financial Aid 45893 Europe (Including Iceland and Greenland) Grantmaking Student Financial Aid 15000 Central America and the Caribbean Investments 44193000 44406860 44406860 Financial aid/scholarship North America 2 95811 Student Acct Financial aid/scholarship Sub-Saharan Africa 1 57156 Student Acct Financial aid/scholarship Central America and the Caribbean 1 45893 Student Acct Financial aid/scholarship Europe (Including Iceland and Greenland) 1 15000 Student Acct true false true true false false PROCEDURE FOR MONITORING USE OF GRANT FUNDS OUTSIDE U.S. PART I, LINE 2 GRANTS ARE GIVEN TO FOREIGN INDIVIDUALS FOR SCHOOLING IN THE U.S. THEREFORE, THE USE OF THE FUNDS IS WITH THE GRANTMAKING ORGANIZATION. Ruffalocody LLC Telemarket false AK MD MA NH OR WA HPA Benefit 913625 271970 641655 105122 137658 93013 83010 170904 0 913625 271970 641655 105122 137658 93013 83010 170904 589707 51948 41950 true 1.00000 41950 41950 TX false THE ONLY GAMING ACTIVITES OF THE HOCKADAY SCHOOL ARE RAFFLES GOVERNED BY THE TEXAS CHARITABLE RAFFLE ENABLING ACT. THE SCHOOL ADHERES TO THIS ACT. false true false 1.00000 Stacy Santellan 11600 Welch Road Dallas TX 75229 false Stacy Santellan 200 PREPARE W-2G FORMS; SUPERVISE DEPOSITS AND AWARDS X false true Financial aid/scholarship 171 3266595 PROCEDURE FOR MONITORING USE OF GRANT FUNDS INSIDE U.S. PART I, LINE 2 FINANCIAL ASSISTANCE IS AWARDED BASED ON FINANCIAL NEED. APPLICANTS PROVIDE DETAILED INCOME INFORMATION. A METHODOLOGY IS APPLIED TO DETERMINE NEED. THE FINANCIAL AID COMMITTEE (COMPRISED OF SCHOOL MANAGEMENT) ALLOCATES THE FINANCIAL AID RESOURCES BASED ON THE DETERMINED NEED. SCHOLARSHIPS ARE GIVEN TO STUDENTS AS A REDUCTION IN THEIR TUITION, LUNCH FEES, AND/OR ACTIVITY FEES. THE AID IS AWARDED OBJECTIVELY AND IN A NON-DISCRIMINATORY MANNER. X true true X X X true false false false false false false false false Elizabeth Lee Interim Head of School 353449 0 75000 0 0 0 21200 0 185 0 449834 0 0 0 Kim Wargo Former Head of School 0 0 0 0 362080 0 0 0 15447 0 377527 0 362080 0 JT Coats CFO 257307 0 0 0 0 0 18427 0 7437 0 283171 0 0 0 Blair Lowry Assistant Head of School 172810 0 0 0 0 0 12641 0 11726 0 197177 0 0 0 Debby Spradley Director of Development 191902 0 0 0 0 0 13656 0 7903 0 213461 0 0 0 Linda Kramer Head of Middle School 171173 0 0 0 0 0 13680 0 196 0 185049 0 0 0 Terry Murray Head of Upper School 155208 0 0 0 0 0 11940 0 10975 0 178123 0 0 0 Barbara Fishel Dean of Studies 151408 0 0 0 500 0 12420 0 7328 0 171656 0 0 0 Jason Curtis Director of Technology 138144 0 0 0 0 0 10580 0 17105 0 165829 0 0 0 DISCRETIONARY SPENDING ACCOUNT PART I, LINE 1A THE SCHOOL PROVIDeS THE HEAD OF SCHOOL A DISCRETIONARY BUDGET FOR SCHOOL RELATED EXPENSES. ALL EXPENSES RUN THROUGH THE NORMAL EXPENSE PROCESS AND REQUIRE THE APPROPRIATE SUBSTANTIATION. SEPARATION PAYMENT OR CHANGE OF CONTROL PAYMENT PART I, LINE 4A THE FORMER HEAD OF SCHOOL, KIM WARGO, RESIGNED ON JUNE 18, 2015, AND RECEIVED SEPARATION PAYMENTS IN MONTHLY INSTALLMENTS, WHICH WERE COMPLETED IN JUNE 2017. SEPARATION PAYMENTS RECEIVED DURING CALENDAR YEAR 2016 TOTALED $362,080. A Red River Education Finance Corporation 752791247 756872JV0 2015-04-23 15434976 Current Refunding of Ser 2005 Bond false false false A 14905000 0 15434976 0 0 0 180283 0 0 15434976 0 0 2015 true false true true A false false false false 0 false false false false A true false false 0 false 0 false true A true 33345 TUITION REMISSION EDUCATION Frost Bank Trustee is a board member 153262 Fees & interest pd Frost Bank false X 1 137000 FMV X 18100 FMV X 19 87816 FMV X Furniture & Equipment 1 40000 FMV 1 false true false EXECUTIVE COMMITTEE PART VI, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE OFFICERS OF THE BOARD, CHAIRS OF OTHER STANDING COMMITTEES, SUBJECT TO EXCEPTIONS, AND UP TO THREE AT-LARGE MEMBERS APPOINTED BY THE CHAIR OF THE BOARD. THE BOARD DELEGATES TO THE EXECUTIVE COMMITTEE ALL POWERS AND DUTIES OF THE BOARD, EXCEPT THOSE POWERS AND DUTIES WHICH ARE EXPRESSLY RESERVED TO THE FULL BOARD. INCLUDED IN SUCH DELEGATED POWERS IS THE POWER TO COMPROMISE, SETTLE, AND DEFEND AGAINST ANY AND ALL DISPUTES, CLAIMS, AND LAWSUITS, SUBJECT TO THE POLICIES OF THE BOARD. THE EXECUTIVE COMMITTEE SHALL CONDUCT THE BUSINESS OF THE SCHOOL AND OVERSEE THE WORK OF COMMITTEES BETWEEN MEETINGS OF THE FULL BOARD. SPECIFIC RESPONSIBILITIES INCLUDE, BUT ARE NOT LIMITED TO: MONITORING THE SCHOOLS PROGRESS RELATIVE TO THE LONG RANGE PLAN, SETTING ANNUAL GOALS FOR THE SCHOOL AND THE HEAD OF SCHOOL, MONITORING THE BOARDS PROGRESS TOWARD ITS ANNUAL GOALS, MONITORING AND REVIEWING THE PROGRESS OF THE HEAD OF SCHOOL AGAINST ESTABLISHED GOALS, AND REVIEWING ALL POLICY RECOMMENDATIONS PRIOR TO PRESENTATION TO THE FULL BOARD. ODTKE NOT AT ORGANIZATION'S MAILING ADDRESS PART VI, LINE 9 KIM WARGO, 429 BELLEVILLE ST., NEW ORLEANS, LA 70114 FORM 990 REVIEW PROCESS PART VI, LINE 11B THE FORM 990 IS PREPARED BY THE MANAGEMENT OF THE SCHOOL WITH THE ASSISTANCE OF GRANT THORNTON LLP, INDEPENDENT TAX ADVISORS. THE FORM 990 AND ALL OF THE REQUIRED SCHEDULES ARE PRESENTED TO THE AUDIT & ETHICS COMMITTEE, CONSISTING OF NOT LESS THAN FOUR MEMBERS. THE AUDIT & ETHICS COMMITTEE THEN REVIEWS THE DRAFT FORM 990 WITH MANAGEMENT OF THE SCHOOL AND GRANT THORNTON LLP. ONCE THE DRAFT IS FINALIZED, IT IS DISTRIBUTED TO THE BOARD MEMBERS VIA EMAIL PRIOR TO FILING WITH THE IRS. CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT PART VI, LINE 12C THE CONFLICT OF INTEREST POLICY AND QUESTIONNAIRE ARE DISTRIBUTED TO THE BOARD OF TRUSTEES AT THE MAY (FINAL) BOARD MEETING. THE CONFLICT OF INTEREST POLICY AND QUESTIONNAIRE ARE DISTRIBUTED TO KEY EMPLOYEES DURING THE SAME TIME FRAME (AS THEY DO NOT ALL ATTEND THE BOARD MEETING). THE QUESTIONNAIRES ARE RETURNED TO THE OFFICE OF THE CFO AND ARE REVIEWED FOR ANY CONFLICTS. IN ADDITION, THE DIRECTOR OF FINANCE AND THE CFO REVIEW THE FORMS AND DISCUSS OTHER POTENTIAL CONFLICTS. A SUMMARY OF SUCH CONFLICTS, IF ANY, IS PREPARED FOR DISCLOSURE ON THE FORM 990 AND IS REVIEWED BY THE AUDIT & ETHICS COMMITTEE. A PERSON FOUND TO HAVE A CONFLICT OF INTEREST SHALL NOT BE INVOLVED IN THE DISCUSSION OF OR VOTE ON THE TRANSACTION OR ARRANGEMENT GIVING RISE TO THE CONFLICT. PROCESS FOR DETERMINING COMPENSATION PART VI, LINES 15A & 15B THE COMPENSATION COMMITTEE SETS THE COMPENSATION FOR THE HEAD OF SCHOOL. THE COMPENSATION COMMITTEE IS COMPRISED OF THE CHAIR OF THE BOARD, THE CHAIR OF THE FINANCE AND ADMINISTRATION COMMITTEE, AND THE CHAIR OF THE BOARD GOVERNANCE AND LEADERSHIP COMMITTEE. THE COMPENSATION COMMITTEE IS DEEMED INDEPENDENT AS IT IS COMPRISED OF INDIVIDUALS UNRELATED TO AND NOT SUBJECT TO THE CONTROL OF THE HEAD OF SCHOOL. IN PREPARATION FOR THIS DECISION, A COMPENSATION COMPARISON IS PREPARED USING DATA FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS). DATA IS PULLED AND ANALYZED FOR A SET OF PREDETERMINED PEER SCHOOLS AND BENCHMARK SCHOOLS. THE STRATEGIC PLANNING COMMITTEE SETS THE LIST OF BENCHMARK SCHOOLS AS THEY ARE USED FOR COMPARISON FOR VARIOUS ITEMS ACROSS THE SCHOOL. THE COMPENSATION COMMITTEE THEN USES THIS INFORMATION TO NEGOTIATE THE CONTRACT FOR THE HEAD OF SCHOOL. THE HEAD OF SCHOOL SETS THE SALARIES OF THE LEADERSHIP TEAM INCLUDING THE KEY EMPLOYEES, AS WELL AS, VARIOUS OTHER LEADERSHIP POSITIONS. THE HEAD USES SIMILAR COMPARABLE DATA FROM NAIS TO DETERMINE SALARY LEVELS. IN ADDITION, THE COMPENSATION AGREEMENT BETWEEN THE HEAD OF SCHOOL AND THE COMPENSATION COMMITTEE IS DOCUMENTED IN MEETING MINUTES WHICH ARE RETAINED AS PART OF THE YEAR'S BOARD MEETING MINUTES. HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC PART VI, LINE 19 THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. INVESTMENT MANAGEMENT FEES PART IX, LINE 11F THE SCHOOL NETS INVESTMENT FEES AGAINST INTEREST AND DIVIDEND INCOME. THESE FEES INCLUDE CUSTODIAL, ADVISORY, AND OTHER FEES DISCLOSED BY CERTAIN INVESTMENT MANAGERS AND WERE APPROXIMATELY $420,000 AND $448,000 FOR THE YEARS ENDED JUNE 30, 2017 AND 2016, RESPECTIVELY.