2016-02-10T16:05:19-06:00 2015-06-30 221732349 WISS & COMPANY LLP 354 EISENHOWER PARKWAY LIVINGSTON NJ 07039 990 2014-07-01 221964930 THE GILL STBERNARD'S SCHOOL GILL 9082341611 ST BERNARDS ROAD GLADSTONE NJ 07934 STEPHEN GRAHAM BUSINESS MANAGER 9082341611 2016-02-10 1 DIANA MILLER P00395887 9739949400 2014 2016-08-17 19:52:53Z STEPHEN GRAHAM ST BERNARDS ROAD GLADSTONE NJ 07934 31255440 0 X HTTP://WWW.GSBSCHOOL.ORG X 1909 NJ GILL ST. BERNARD'S PROVIDES A DIVERSE, BALANCED ENVIRONMENT WHERE INDIVIDUAL POTENTIAL IS NURTURED, MUTUAL RESPECT IS UNDERSTOOD, EXCELLENCE IS PURSUED AND STUDENTS ARE PREPARED ACADEMICALLY, SOCIALLY AND ETHICALLY TO THRIVE AND LEAD WITH HONOR AND RESPONSIBILITY IN AN INTERDEPENDENT AND CHANGING WORLD. 22 22 307 30 0 0 2917976 7587043 21124970 22013707 891066 186327 5088 -46117 24939100 29740960 2613402 2884435 0 0 13421608 13462562 15000 0 436245 7206319 8358202 23256329 24705199 1682771 5035761 46361523 54871975 17888691 21505444 28472832 33366531 X GILL ST. BERNARD'S PROVIDES A DIVERSE, BALANCED ENVIRIONMENT WHERE INDIVIDUAL POTENTIAL IS NURTURED, MUTUAL RESPECT IS UNDERSTOOD, EXCELLENCE IS PURSUED AND STUDENTS ARE PREPARED ACADEMICALLY, SOCIALLY AND ETHICALLY TO THRIVE AND LEAD WITH HONOR AND RESPONSIBILITY IN AN INTERDEPENDENT AND CHANGING WORLD. 0 0 17563690 22020845 INSTRUCTION: COLLEGE PREPARATORY CURRICULUM INCLUDING ATHLETICS, DRAMA, LIBRARY, SCIENCE, TECHNOLOGY AND OTHER TRADITIONAL AND INNOVATIVE ELEMENTS.THE GOAL OF THE CURRICULUM AT GILL ST. BERNARD'S SCHOOL, BEGINNING WITH THE EARLY CHILDHOOD PROGRAM AND CULMINATING IN THE TWELFTH GRADE, IS TO PREPARE YOUNG PEOPLE FOR A LIFETIME OF DEEP, ENRICHING LEARNING EXPERIENCES WHILE IN COLLEGE AND DURING THEIR LATER LIVES AS CITIZENS IN AN EVER CHANGING WORLD. 2884435 2884435 FINANCIAL AID: SCHOLARSHIPS ARE AVAILABLE TO ALL STUDENTS. NEED-BASED FINANCIAL AID IS PROVIDED TO 110 STUDENTS, MERIT-BASED FINANCIAL AID IS PROVIDED TO 10 STUDENTS, AND AID IN THE FORM OF BUSSING IS PROVIDED TO 26 STUDENTS. FACULTY TUITION FINANCIAL AID IS PROVIDED TO 45 FACULTY MEMBERS.WE ARE COMMITTED TO MAKING A GSB EDUCATION ACCESSIBLE TO NEWLY ADMITTED AND ENROLLED STUDENTS. TUITION AID GRANTS ARE AWARDED TO FAMILIES ON AN ANNUAL BASIS FOR QUALIFYING STUDENTS IN GRADES 7 THROUGH 12 WHOSE FAMILIES COMPLETE THE FINANCIAL AID APPLICATION AND WHO DEMONSTRATE FINANCIAL NEED.PARENTS ARE REQUIRED TO COMPLETE A PARENT FINANCIAL STATEMENT (PFS) AND SUBMIT TAX DOCUMENTATION EACH YEAR THEY APPLY FOR AID. PFS APPLICATIONS ARE PROCESSED BY SCHOOL AND STUDENT SERVICES (SSS), AN ORGANIZATION USED BY INDEPENDENT SCHOOLS TO ASSESS EACH INDIVIDUAL FAMILY'S FINANCIAL NEED AND REASONABLE FAMILY TUITION CONTRIBUTION.INFORMATION SUBMITTED BY FAMILIES AS PART OF THE FINANCIAL AID APPLICATION PROCESS IS HELD IN STRICT CONFIDENCE AND REVIEWED ONLY BY THE SCHOOL'S FINANCIAL AID ADMINISTRATOR(S), BUSINESS MANAGER AND HEADMASTER IN MAKING AID DECISIONS. WHILE THE SCHOOL DOES NOT REQUIRE AN INTERVIEW IN THE AWARDING OF FINANCIAL AID, ON OCCASION PARENTS MAY BE ASKED TO CLARIFY INFORMATION IN THEIR FINANCIAL AID APPLICATION. PARENTS MAY ALSO REQUEST AN APPOINTMENT WITH THE DIRECTOR OF ADMISSION AND FINANCIAL AID TO CLARIFY FAMILY CIRCUMSTANCES OR REVIEW A TUITION AID GRANT. TUITION AID GRANTS ARE REVIEWED ANNUALLY AND ADJUSTED WHEN INDICATED BY CHANGES IN FAMILY CIRCUMSTANCES AND/OR THE SCHOOL'S OVERALL BUDGET CONSIDERATIONS. 20448125 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 1 23 0 1 307 1 0 0 0 0 0 1 1 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X STEPHEN GRAHAM 9082341611 ST BERNARDS ROAD GLADSTONE NJ 07934 JOHN HOWARD CHAIRMAN 1.00 X X 0 0 0 MARIANNE SALADINO SECRETARY 1.00 X X 0 0 0 JAMES O'CONNOR TREASURER 1.00 X X 0 0 0 EDMOND MORIARTY III TRUSTEE 1.00 X 0 0 0 HARRY CHOWANSKY TRUSTEE 1.00 X 0 0 0 SAMUEL CORLISS TRUSTEE (FORMER) 1.00 X 0 0 0 GIA DUNN TRUSTEE 1.00 X 0 0 0 LIZ FUCCI TRUSTEE 1.00 X 0 0 0 DONALD FUENTES TRUSTEE 1.00 X 0 0 0 JUDITH FULTON HIGBY TRUSTEE 1.00 X 0 0 0 ROBERT HEMM TRUSTEE 1.00 X 0 0 0 ROSE KIRK TRUSTEE 1.00 X 0 0 0 DOUGLAS L MATTHEWS TRUSTEE 1.00 X 0 0 0 LINDA MOORE TRUSTEE 1.00 X 0 0 0 PATRICIA HALLETT MUCHMORE TRUSTEE 1.00 X 0 0 0 ELIZABETH NAMETZ TRUSTEE 1.00 X 0 0 0 SANDI NICCOLAI TRUSTEE 1.00 X 0 0 0 ROBERT O'LEARY TRUSTEE (FORMER) 1.00 X 0 0 0 PRESTON PINKETT III TRUSTEE 1.00 X 0 0 0 JOHN RAYMONDS TRUSTEE 1.00 X 0 0 0 TODD ROSS TRUSTEE (FORMER) 1.00 X 0 0 0 ROBERT SAMETH JR TRUSTEE 1.00 X 0 0 0 VLAD TORGOVNIK TRUSTEE 1.00 X 0 0 0 TODD ROSS TRUSTEE (FORMER) 1.00 X 0 0 0 MICHAEL FRITZLO TRUSTEE 1.00 X 0 0 0 JANINE UDOFF TRUSTEE 1.00 X 0 0 0 SIDNEY ROWELL HEADMASTER 40.00 X 387562 0 61638 STEPHEN GRAHAM BUSINESS MANAGER 40.00 X 174245 0 27908 DAVID PASQUALE DEAN OF STUDENT LIFE 40.00 X 153320 0 9249 JAMES DIVERIO DIRECTOR OF DEVELOPMENT 40.00 X 130662 0 26065 EDWARD H BROWN UPPER SCHOOL MATH INSTRUCTOR 40.00 X 118208 0 10462 SUSAN PETRONE UPPER SCHOOL HEAD 40.00 X 123402 0 11648 MICHAEL CHIMES DIRECTOR OF ACADEMIC TECHNOLOGY 40.00 X 117014 0 24816 1204413 0 171786 12 0 1 0 FLIK INDEPENDENT DINING - COMPASS GROUP PO BOX 417632 BOSTON MA 022417632 FOOD SERVICE 972227 FIRST STUDENT INC 22157 NETWORK PLACE CHICAGO IL 60673 BUSING 240609 USA ARCHITECTS 20 NORTH DOUGHTY AVENUE SOMERVILLE NJ 08876 ARCHITECT 150037 DYNAMIC ENGINEERING 1904 MAIN STREET LAKE COMO NJ 07719 ENGINNERING 131719 WICKLOW & LAURANO CONTRACTORS 362 ROUTE 206 FLANDERS NJ 07836 LANDSCAPING 126704 5 223783 36759 7326501 3401763 7587043 TUITION FEES AND BOOKS 611600 19828601 19828601 AUXILIARY SERVICES 611710 1991774 1991774 OTHER INCOME 611710 193332 193332 22013707 172587 172587 11785 0 11785 11785 11785 1197565 1183825 13740 13740 13740 236111 223783 301151 -65040 -65040 36642 29504 7138 7138 29740960 22020845 0 133072 2884435 2884435 612853 451321 151133 10399 10076082 7420295 2484815 170972 551822 406376 136082 9364 1445631 1064601 356501 24529 776174 571596 191408 13170 33241 23861 6765 2615 71000 50966 14448 5586 94116 67559 19152 7405 82926 78977 3159 790 314744 299758 11990 2996 492825 469358 18774 4693 478933 462376 15375 1182 25958 8653 8653 8652 1233128 1174407 46976 11745 1475039 1404799 56192 14048 640134 494011 136716 9407 FOOD PROGRAMS 737937 737937 REPAIRS AND MAINTENANCE 634947 605283 23731 5933 STUDENT ACTIVITIES 508649 508649 SUMMER CAMP 494211 494211 1040414 768696 138959 132759 24705199 20448125 3820829 436245 1038814 708784 2225489 4147674 2224837 2978570 4628 43201 180000 120000 345065 450446 48620978 13218661 29777895 35402317 10515000 10769549 49795 251434 46361523 54871975 2441817 2827304 6318494 14386000 1083637 1527472 8044743 2764668 17888691 21505444 X 15079248 18512228 5757534 6923653 7636050 7930650 28472832 33366531 46361523 54871975 X 5035761 106799 -248861 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 10515000 294600 259947 300000 10769547 8255214 547325 1992461 280000 10515000 6750025 525750 1259439 280000 8255214 6594534 392400 -236909 6750025 5738969 346000 944565 435000 6594534 0.73640 0.26360 1 0 3965527 3965527 42485235 11570140 30915095 1982338 1498218 484120 187878 150303 37575 35402317 STOCK INDEX MUTUAL FUNDS 10769549 C 10769549 STUDENT DEPOSITS 2059105 UNEARNED REVENUE 372685 INTEREST RATE SWAP LIABILITY 311221 CAPITAL LEASE PAYABLE 21657 2764668 X 27328066 106799 135850 330655 573304 26754762 2986198 2986198 29740960 22434367 135850 477753 613603 21820764 2884435 2884435 24705199 PART III, LINE 4: A PAINTING, "NEW JERSEY MEADOW FLOWERS" WAS OBTAINED FROM THE ARTIST, ALEXANDRA TIMCHULA, FOR PUBLIC EXHIBITION AS PROVIDED UNDER SFAS 116. PART V, LINE 4: GSB HAS RESTRICTED NET ASSETS OF $10,769,547, WHICH IS CURRENTLY INVESTED IN VANGUARD FUNDS. $10,618,836 HAS BEEN RESTRICTED FOR USE TOWARDS NEED-BASED FINANCIAL AID, $15,991 HAS BEEN RESTRICTED FOR USE TOWARDS AN ANNUAL GRADUATION AWARD, $80,727 HAS BEEN RESTRICTED FOR USE TOWARDS AN ANNUAL TEACHER RECOGNITION AWARD AND $53,993 HAS BEEN RESTRICED TOWARDS THE COST OF ENVIRONMENTAL SPEAKERS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, THEREFORE, HAS MADE NO PROVISION FOR FEDERAL OR STATE INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A "PRIVATE FOUNDATION" WITHIN THE MEANING OF SECTION 509(A)(1) OF THE INTERNAL REVENUE CODE. OTHER SIGNIFICANT TAX POSITIONS INCLUDE ITS DETERMINATION OF WHETHER ANY AMOUNTS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). MANAGEMENT HAS DETERMINED THAT THE SCHOOL HAD NO ACTIVITIES SUBJECT TO UBIT IN THE YEARS ENDED JUNE 30, 2015 OR 2014. ALL SIGNIFICANT TAX POSITIONS HAVE BEEN CONSIDERED BY MANAGEMENT AND IT HAS BEEN DETERMINED THAT ALL TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE SCHOOL IS REQUIRED TO FILE FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX), WHICH IS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF THE TAX RETURN. THE FORMS 990 FOR 2012 THROUGH 2014 ARE OPEN TO EXAMINATION BY THE IRS AS OF JUNE 30, 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON LINE 10B 29,504. DIRECT FUNDRAISING EXPENSES 301,151. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,884,435. NONCASH AUCTION ITEMS 101,763. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON LINE 10B 29,504. DIRECT FUNDRAISING EXPENSES 199,388. INTEREST RATE SWAP 248,861. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,884,435. FORM 990, SCHEDULE D, LINE 2D. IN FISCAL YEAR ENDING 6/30/15, GILL ST. BERNARD SCHOOL REPORTED EXPENSES OF $29,504 AS COST OF GOODS SOLD AND $199,388 OF DIRECT EXPENSES FOR SPECIAL EVENT FUNDRAISING. THE INTEREST RATE SWAP LOSS OF 248,861 WAS AN UNREALIZED LOSS NOT REPORTED FOR 990 PURPOSES. FORM 990, SCHEDULE D, LINE 4B. FOR FISCAL YEAR ENDING 6/30/15, THE GILL ST. BERNARD SCHOOL NETTED FINANCIAL AID EXPENSE AGAINST TUITION REVENUE FOR FINANCIAL STATEMENT PURPOSES. FOR 990 REPORTING, THE FINANCIAL AID EXPENSE OF $2,884,435 WAS INCLUDED IN THE STATEMENT OF FUNCTIONAL EXPENSE. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL OR ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS. THE SCHOOL ADMITS STUDENTS OF ANY RACE, COLOR, NATIONAL AND ETHNIC ORIGIN. THIS RACIALLY NONDISCRIMNATORY POLICY IS PUBLISHED IN THE SCHOOL'S BROCHURES, BROADCAST MEDIAS AND OTHER PRINTED MATERIALS. DINNER DANCE 286869 146133 140736 5500 53052 4573 6325 124009 GOLF CLASSIC 173025 77650 95375 16100 78000 13592 459894 223783 236111 21600 131052 4573 6325 137601 301151 -65040 1 BUSING AWARD 35 119000 FINANCIAL AID 104 1930175 MERIT SCHOLARSHIPS 24 199000 FACULTY TUITION FINANCIAL AID 43 636260 PART I, LINE 2: CRITERIA FOR AWARDING FINANCIAL AID: THE GILL ST. BERNARD SCHOOL ABIDES BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL'S PRINCIPLES OF GOOD PRACTICE FOR FINANCIAL AID ADMINISTRATION. IN ACCORDANCE WITH THESE PRACTICES, THE GILL ST. BERNARD SCHOOL AWARDS FINANCIAL AID GRANTS BASED UPON THE FINANCIAL NEED OF A FAMILY. THESE GRANTS ARE SUPPORTED BY THE SCHOOL'S BUDGET AND DEMONSTRATE THE SCHOOL'S COMMITMENT TO ENROLL A SOCIOECONOMICALLY DIVERSE STUDENT POPULATION. QUALIFYING FAMILIES IN GRADES K THROUGH 12 ARE ELIGIBLE. PARENTS COMPLETE A FINANCIAL AID APPLICATION ACCORDING TO DEADLINES AND MUST DEMONSTRATE FINANCIAL NEED. PARENTS COMPLETE THE PARENT FINANCIAL STATEMENT (PFS) AND SUBMIT TAX DOCUMENTATION EACH YEAR THEY APPLY FOR AID. PFS APPLICATIONS ARE PROCESSED BY SCHOOL AND STUDENT SERVICES (SSS), USED BY INDEPENDENT SCHOOLS TO DETERMINE A FAMILY'S FINANCIAL NEED AND ASSESS A REASONABLE FAMILY TUITION CONTRIBUTION. AN OFFICIAL COPY OF THE PARENTS' CURRENT YEAR IRS FORM 1040, INCLUDING ALL SCHEDULES AND W-2 FORMS, IS SUBMITTED TO GSB. INFORMATION SUBMITTED BY FAMILIES AS PART OF THE FINANCIAL AID APPLICATION PROCESS IS HELD IN STRICT CONFIDENCE AND REVIEWED ONLY BY THE SCHOOL'S FINANCIAL AID ADMINISTRATOR(S), BUSINESS MANAGER AND HEADMASTER. WHILE THE SCHOOL DOES NOT REQUIRE AN INTERVIEW IN THE AWARDING OF FINANCIAL AID, ON OCCASION PARENTS MAY BE ASKED TO CLARIFY INFORMATION IN THEIR FINANCIAL AID APPLICATION. PARENTS MAY ALSO REQUEST AN APPOINTMENT WITH THE DIRECTOR OF ADMISSION AND FINANCIAL AID TO CLARIFY FAMILY CIRCUMSTANCES OR REVIEW A TUITION AID GRANT. TUITION AID GRANTS ARE REVIEWED ANNUALLY AND ADJUSTED WHEN INDICATED BY CHANGES IN FAMILY CIRCUMSTANCES AND/OR THE SCHOOL'S OVERALL BUDGET CONSIDERATIONS. X 1 0 X X X 0 0 0 0 0 0 0 0 0 SIDNEY ROWELL HEADMASTER 387562 0 0 0 0 0 20285 0 41353 0 449200 0 0 0 STEPHEN GRAHAM BUSINESS MANAGER 174245 0 0 0 0 0 23000 0 4908 0 202153 0 0 0 DAVID PASQUALE DEAN OF STUDENT LIFE 153320 0 0 0 0 0 8823 0 426 0 162569 0 0 0 JAMES DIVERIO DIRECTOR OF DEVELOPMENT 130662 0 0 0 0 0 22642 0 3423 0 156727 0 0 0 PART I, LINE 1A FOR THE BENEFIT AND CONVENIENCE OF THE SCHOOL IN HAVING THE FUNCTIONS OF THE OFFICE OF THE HEAD EFFICIENTLY DISCHARGED AND AS A CONDITION OF HIS EMPLOYMENT AS HEAD OF SCHOOL, MR. ROWELL RESIDES IN AN ON-CAMPUS RESIDENCE PROVIDED FOR AT THE SCHOOL'S EXPENSE FOR THE CONVENIENCE OF THE SCHOOL. THE HEAD'S RESIDENCE IS READILY AVAILABLE AND USED FOR SCHOOL-RELATED BUSINESS AND ENTERTAINMENT FUNCTIONS ON A REGULAR AND CONTINUING BASIS AS STIPULATED IN HIS EMPLOYMENT CONTRACT. PART I, LINE 3 THE ORGANIZATION USES INDUSTRY STANDARDS AND COMPARABILITY DATA IN ITS REVIEW AND APPROVAL OF MANAGEMENT COMPENSATION. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2015-01-01 14485000 REFUNDING OF PREVIOUS BOND ISSUE 1 0 0 A 6199122 14485000 260071 5728857 2296950 12188650 2001 1 0 1 1 A 0 0 0 0 1 1 WELLS FARGO BANK 9.000000000000 0 0 0 0 0 A 0 SIDNEY ROWELL MANAGEMENT OFFICIAL PERSONAL X 300000 120000 0 1 1 120000 LOAN TO HEADMASTER: ON JULY 1, 2012, THE SCHOOL SIGNED A PROMISSORY NOTE WITH THE HEADMASTER IN WHICH THE SCHOOL LOANED THE HEADMASTER $300,000. THE NOTE BEARS INTEREST AT 1.07% PER ANNUM. BEGINNING ON JUNE 30, 2013 PRINCIPAL OF $60,000 AND ACCRUED INTEREST WILL BE FORGIVEN EACH YEAR UNTIL JUNE 30,2017 WHEN LOAN WILL BE FULLY FORGIVEN. THE SCHOOL RECORDS THE FORGIVENESS AS SALARY EXPENSE. X 15 864170 MKT QUOTE/DATE OF GIFT X 1 3300000 APPRAISED FMV X AUCTION NON-CASH ITEMS 132 101763 COST 1 0 0 0 PART I, COLUMN (B): THE NUMBER OF DONATED SECURITIES WERE DETERMINED BY THE DATE GIVEN. AUCTION ITEMS WERE LISTED BY NUMBER OF ITEMS DONATED. THE LAND DONATED WAS PART GIFT AND PART SALE. FORM 990, PART VI, SECTION B, LINE 11 COPIES OF THE 990 RETURN ARE REVIEWED AND APPROVED BY THE FINANCE COMMITTEE PRIOR TO FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST THE BOARD OF TRUSTEES ARE APPOINTED/ELECTED TO SERVE GILL ST. BERNARDS SCHOOL AND ITS CONSTITUENCIES. THE WOMEN AND MEN WHO ACCEPT THIS POSITION ARE EXPECTED TO CARRY OUT THEIR DUTIES IN A MANNER WHICH INSPIRES AND ASSURES THE CONFIDENCE OF THE SCHOOL AND THE BROADER COMMUNITY. THE TRUSTEES SHALL EXERCISE THE UTMOST GOOD FAITH IN ALL TRANSACTIONS TOUCHING UPON THEIR DUTIES TO THE ORGANIZATION AND ITS PROPERTY. IN THEIR DEALINGS WITH AND ON BEHALF OF THE ORGANIZATION THEY ARE HELD TO A STRICT RULE OF HONEST AND FAIR DEALINGS BETWEEN THEMSELVES AND THE ORGANIZATION. THEY SHALL NOT USE THEIR POSITIONS AS TRUSTEES, OR KNOWLEDGE GAINED THERE FROM, SO THAT A CONFLICT MIGHT ARISE BETWEEN THE SCHOOLS INTEREST AND THAT OF ANY INDIVIDUAL TRUSTEE. A CONFLICT OF INTEREST ARISES IN ANY SITUATION IN WHICH A TRUSTEE (AND HIS OR HER IMMEDIATE FAMILY) IS INVOLVED IN AN ACTIVITY WHICH COULD ADVERSELY AFFECT HIS OR HER JUDGMENT WITH RESPECT TO THE BUSINESS OF THE SCHOOL OR OTHERWISE DIMINISH THE INTEREST OF THE ORGANIZATION. WHEN SUCH A CONFLICT ARISES, THE INDIVIDUAL WITH THE CONFLICT IS EXPECTED TO DISCLOSE IN WRITING THE EXISTENCE OF THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES INDUSTRY STANDARDS AND COMPARABILITY DATA IN ITS REVIEW AND APPROVAL OF MANAGEMENT COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE KEPT AT THE ORGANIZATION'S LOCATION AND CAN BE VIEWED BY ANY INQUIRING PARTY DURING NORMAL OFFICE HOURS. HARD COPIES ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: DECREASE IN FAIR VALUE OF INTEREST RATE SWAP -248,861. FORM 990, PAGE 11, PART XI, LINE 2C THE GILL ST BERNARD SCHOOL FINANCE COMMITTEE ASSUMES RESPONSIBLITY FOR THE REVIEW AND OVERSIGHT OF THE AUDIT AND FINANCIAL STATEMENTS. FORM 990, PAGE 6, PART VI, LINE 10 AFTER THE FORM 990 IS PREPARED, IT IS FIRST REVIEWED BY BUSINESS MANAGER STEPHEN GRAHAM AND BOOKKEEPER LAURIE PISACK. THE RETURN IS THEN REVIEWED BY HEADMASTER SID ROWELL AND THE BOARD OF DIRECTORS PRIOR TO FILING. PARENTS ASSOCIATION ST BERNARDS ROAD GLADSTONE NJ 07934 010621556 RAISE FUNDS FOR THE GILL ST. BERNARD'S SCHOOL NJ 501(C)(3) LINE 11A, I 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0