2013-02-12T08:29:22-06:00 2012-06-30 581673613 BENNETT THRASHER PC 3625 CUMBERLAND BOULEVARD 1000 ATLANTA GA 30339 990 2011-07-01 580619038 THE LOVETT SCHOOL LOVE 4042623032 4075 PACES FERRY ROAD NW ATLANTA GA 303273099 WILLIAM S PEEBLES IV 4042623032 2013-01-18 1 TIFFANY SCALES P01059609 7703962200 2013-01-18 2011 2016-03-07 17:11:31Z WILLIAM S PEEBLES IV 46902294 0 X WWW.LOVETT.ORG X 1926 GA THE LOVETT SCHOOL IS A K-12 SCHOOL FOR FAMILIES SEEKING EXCELLENCE IN LEARNING. 30 30 843 1500 0 0 7838334 7438340 34232225 35753507 1593891 1509642 304746 403641 43969196 45105130 2576489 2581387 0 0 27976369 29172671 0 0 2247305 15252529 15471857 45805387 47225915 -1836191 -2120785 198538931 192693845 59092934 61500109 139445997 131193736 X THE LOVETT SCHOOL IS AN ATLANTA INDEPENDENT SCHOOL FOR FAMILIES SEEKING EXCELLENCE IN LEARNING, CHARACTER, AND COMMUNITY IN AN ENVIRONMENT THAT DEVELOPS THE WHOLE CHILD. OUR MISSION IS TO PREPARE STUDENTS IN K THROUGH GRADE 12 FOR COLLEGE AND FOR LIFE. WE SUPPORT THIS MISSION THROUGH RIGOROUS ACADEMICS, COMPLEMENTED BY ARTS, ATHLETICS, AND OPPORTUNITIES FOR SERVICE AND FAITH. 0 0 36128544 34170386 THE LOVETT SCHOOL WAS FOUNDED IN 1926 BY EVA EDWARDS LOVETT AND RETAINS HER EMPHASIS ON THE DEVELOPMENT OF THE WHOLE CHILD. LOVETT BELIEVES THAT IT IS THE SCHOOL'S RESPONSIBILITY TO DEVELOP FUNDAMENTAL SKILLS, A LOVE OF LEARNING, AND THE APPLICATION OF GOOD JUDGMENT TO WHAT IS LEARNED. DISTINCTIVE FEATURES OF THE CURRICULUM INCLUDE EXPERIENTIAL EDUCATION AND INTERDISCIPLINARY STUDIES. COMPREHENSIVE FINE ARTS PROGRAMS ARE OFFERED IN EACH SCHOOL DIVISION AND A FULL ATHLETIC PROGRAM PROVIDES EACH STUDENT AN OPPORTUNITY TO EXPERIENCE THE VALUE OF TEAM EFFORT AND SPORTSMANSHIP. STUDENTS PARTICIPATE IN A VARIETY OF COMMUNITY SERVICE ACTIVITIES, AND NONDENOMINATIONAL CHAPEL SERVICES ARE HELD WEEKLY IN ALL SCHOOL DIVISIONS. LOVETT SEEKS STUDENTS FROM ALL ETHNIC, CULTURAL, RACIAL, AND RELIGIOUS BACKGROUNDS WHO CAN BENEFIT FROM A CHALLENGING ACADEMIC PROGRAM. THE STUDENT BODY IS APPROXIMATELY 1,500. 1852284 1429057 LOVETT OFFERS AFTER-SCHOOL ACTIVITIES, EXTENDED DAY PROGRAMS, SUMMER SCHOOL COURSES, SUMMER CAMPS AND OTHER ENRICHMENT OPPORTUNITIES TO STUDENTS INCLUDING TUTORIAL PROGRAMS IN ALL ACADEMIC SUBJECTS AND THE ARTS. 727673 154064 OTHER UNIQUE PROGRAMS INCLUDE BREAKTHROUGH ATLANTA WHICH IS A SIX-WEEK, ACADEMIC AND LEADERSHIP DEVELOPMENT PROGRAM THAT MATCHES HIGH SCHOOL AND COLLEGE-AGED VOLUNTEERS AND ASPIRING TEACHERS WITH UNDERSERVED MIDDLE SCHOOL STUDENTS FROM ATLANTA'S PUBLIC SCHOOLS. THE PROGRAM TEACHES COLLEGE PREPARATORY AND PERSONAL SKILLS THAT INCREASE THESE STUDENTS' CHANCES OF COLLEGE ADMISSION. AT THE SAME TIME, THE PROGRAM INSPIRES AND NURTURES A FUTURE GENERATION OF YOUNG TEACHERS. LOVETT'S SIEMPRE VERDE IS A PROTECTED PRESERVE OF CLOUD FOREST PROPERTY IN ECUADOR OWNED AND SUPPORTED BY LOVETT TO PROMOTE TROPICAL CONSERVATION EDUCATION. THE EDUCATIONAL INSTITUTION OFFERS STUDENTS AN OPPORTUNITY TO LEARN CONSERVATION METHODS THROUGH RESEARCH AND THE EXCHANGE OF IDEAS. 38708501 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 52 0 1 843 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 X 30 30 1 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X ANGIE CARRANO 4042623032 4075 PACES FERRY ROAD NW ATLANTA GA 303273099 PINNEY L ALLEN 0.50 X 0 0 0 BRIAN MJ BOUTTE 0.50 X 0 0 0 GORDON A BUCHMILLER JR 0.50 X 0 0 0 SALLIE ADAMS DANIEL 0.50 X 0 0 0 MARGARET DENNY DOZIER 0.50 X 0 0 0 DEBORAH HARRISON 0.50 X 0 0 0 WILLIAM F HENAGAN 0.50 X 0 0 0 JEFFREY F HINES 0.50 X 0 0 0 DABNEY MANN HOLLIS 0.50 X 0 0 0 CLAYTON F JACKSON 0.50 X 0 0 0 DAVID B KAHN 0.50 X 0 0 0 JOHN O KNOX JR 0.50 X 0 0 0 AMY R KREISLER 0.50 X 0 0 0 KATHRYN MCCAIN LEE 0.50 X 0 0 0 ROBERT C LOUDERMILK 0.50 X 0 0 0 JANE KERR MATHEWS 0.50 X 0 0 0 JAMES M MCINTYRE 0.50 X 0 0 0 ELIZABETH D POPE 0.50 X 0 0 0 JEFFREY L PORTMAN 0.50 X 0 0 0 FRANCES G ROGERS 0.50 X 0 0 0 ARTHUR W ROLLINS 0.50 X 0 0 0 LAWRENCE M SCHALL 0.50 X 0 0 0 F BLAIR SCHMIDT-FELLNER 0.50 X 0 0 0 CHRISTIAN B SCHOEN 0.50 X 0 0 0 RICHARD F SMITH 0.50 X 0 0 0 JOHN R WELLS 0.50 X 0 0 0 ELIZABETH B WEST 0.50 X 0 0 0 GERALD J WILKINS 0.50 X 0 0 0 FRANK L WILSON III 0.50 X 0 0 0 DAVID F APPLE JR 0.50 X 0 0 0 CHARLES R ARP 0.50 X 0 0 0 THOMAS A AVERY 0.50 X 0 0 0 C DUNCAN BEARD 0.50 X 0 0 0 AVRIL BECKFORD 0.50 X 0 0 0 J DONALD CHILDRESS 0.50 X 0 0 0 BRADLEY CURREY JR 0.50 X 0 0 0 JOHN M DARDEN III 0.50 X 0 0 0 JOHN M DEBORDE III 0.50 X 0 0 0 RICHARD A DENNY JR 0.50 X 0 0 0 BRUCE L DICK 0.50 X 0 0 0 DANIEL M DUPREE 0.50 X 0 0 0 WILLIAM H FOX 0.50 X 0 0 0 RUSSELL R FRENCH 0.50 X 0 0 0 WILLIAM B FRYER 0.50 X 0 0 0 THOMAS C GALLAGHER 0.50 X 0 0 0 WILLIAM B GEORGE 0.50 X 0 0 0 ROBERT J GLENN 0.50 X 0 0 0 JOHN T GLOVER 0.50 X 0 0 0 JH HILSMAN III 0.50 X 0 0 0 DOROTHY SMITH KNOX HINES 0.50 X 0 0 0 JOHN R HOLDER 0.50 X 0 0 0 W BARRETT HOWELL 0.50 X 0 0 0 EMILY HUIE 0.50 X 0 0 0 HARRISON JONES II 0.50 X 0 0 0 DONALD R KEOUGH 0.50 X 0 0 0 MICHAEL L KEOUGH 0.50 X 0 0 0 FRANK KINNETT 0.50 X 0 0 0 WILTON D LOONEY 0.50 X 0 0 0 C KNOX MASSEY JR 0.50 X 0 0 0 W HAMPTON MORRIS 0.50 X 0 0 0 CV NALLEY III 0.50 X 0 0 0 ROBERT E PETERSON 0.50 X 0 0 0 MARK C POPE IV 0.50 X 0 0 0 JAN N PORTMAN 0.50 X 0 0 0 ALFRED R ROACH JR 0.50 X 0 0 0 WILLIAM H ROGERS JR 0.50 X 0 0 0 ROBERT E SETTLE 0.50 X 0 0 0 CHARLES U SLICK 0.50 X 0 0 0 RICHARD W SORENSON 0.50 X 0 0 0 JOHN A WILLIAMS 0.50 X 0 0 0 R REID FRENCH JR 0.50 X 0 0 0 EDWARD D MCCRADY 0.50 X 0 0 0 WILLIAM S PEEBLES IV 40.00 X 380161 0 191249 DAVID MERIWETHER JR 40.00 X 206108 0 28432 STEVE ALLEN 40.00 X 167175 0 24631 WILLIAM P DUNKEL 40.00 X 167534 0 27534 ANDREW SPENCER 40.00 X 135249 0 29282 STEVE FRANKS 40.00 X 133110 0 27395 DEBORAH LANGE 40.00 X 117369 0 19095 1306706 0 347618 16 0 1 0 GAY CONSTRUCTION 2907 LOG CABIN DRIVE SMYRNA GA 30080 CONTRACTOR 1038506 BRASFIELD & GORRIE 729 30TH STREET SOUTH BIRMINGHAM AL 35233 CONTRACTOR 320129 INGLETT & STUBBS INC 5200 RIVERVIEW ROAD SE MABLETON GA 30126 ELECTRIC CONTRACTORS 191311 WEST GEORGIA ROOFING PO BOX 767 CARROLLTON GA 30112 ROOFING CONTRACTORS 182839 DB AUDIO 2196 HILTON DRIVE GAINESVILLE GA 30501 ACOUSTICAL ENGINEERS 164702 5 60260 165828 7212252 571419 7438340 TUITION 611110 32677550 32677550 PROGRAMS 611110 1620757 1620757 FEES 611110 1324661 1324661 ATHLETICS 611110 130539 130539 35753507 1417335 1417335 122800 108926 13874 13874 13874 92307 0 92307 92307 92307 237899 165828 263861 -25962 -25962 2395 0 2395 2395 1685434 1424377 261057 261057 OTHER INCOME 611110 87327 87327 DUES 611110 64950 64950 152277 45105130 35905784 0 1761006 2581387 2581387 775803 775803 21681727 18562957 2078853 1039917 1723015 1595645 37980 89390 3375195 2908410 303853 162932 1616931 1386241 153769 76921 34994 5250 29744 46828 46828 84216 84216 826491 54783 723580 48128 103998 5343 49685 48970 2153185 1574098 286048 293039 1053916 698284 355632 1333696 1161106 117487 55103 212965 157931 41029 14005 158067 96278 56930 4859 1144108 1001519 95059 47530 6323767 5517827 544077 261863 410619 5000 405619 STUDENT TRIPS/ACTIVITIE 1035823 1035823 MEALS & ENTERTAINMENT 223583 94714 29325 99544 DUES/MEMBERSHIPS 132424 78665 48655 5104 MISCELLANEOUS 120126 118147 1979 0 73051 69093 3958 47225915 38708501 6270109 2247305 1740 1740 8503989 8401072 14939132 11285449 184407 313686 49895 38899 0 0 39463 31351 284030 260458 749200 778486 150653859 50336210 101594815 100317649 68280627 67419380 1302100 1306933 2609533 2538742 198538931 192693845 6447228 8168527 10230702 9345200 38500000 36500000 3915004 7486382 59092934 61500109 X 95459390 88971159 19923802 15589476 24062805 26633101 139445997 131193736 198538931 192693845 X -2120785 -6131476 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 71058302 7701495 -215830 7753732 60200 70730036 67736462 10533481 10687030 17803304 95366 71058302 54813003 17252268 4881735 9117057 93488 67736462 58439646 9936493 -9140869 4326388 95879 54813003 0.54050 0.37650 0.08300 0 0 2288521 2288521 107161056 27531149 79629907 24095487 13215165 10880322 7882902 5757116 2125786 9225893 3832780 5393113 100317649 INTEREST RATE SWAP PAYABLE 7486382 7486382 45105130 47225915 -2120785 -6131476 -6131476 -8252261 44413877 -691253 -691253 45105130 0 45105130 52666138 5440223 5440223 47225915 0 47225915 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE PRIMARY FINANCIAL OBJECTIVE OF THE ENDOWMENT IS TO SUPPORT THE CURRENT AND FUTURE OPERATIONS OF THE LOVETT SCHOOL. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL HAS BEEN GRANTED TAX-EXEMPT STATUS UNDER SECTION 501(A)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AS ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3) WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE SCHOOL HAD NO SIGNIFICANT UNRELATED BUSINESS TAXABLE INCOME DURING 2012 AND 2011; ACCORDINGLY, NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL APPLIES THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) ON INCOME TAXES. THIS ASC REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE-LIKELY-THAN-NOT" THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. THE SCHOOL DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY MATERIAL UNCERTAIN TAX POSITIONS. THERE HAVE BEEN NO PENALTIES OR INTEREST INCURRED BY THE SCHOOL DURING 2012 OR 2011. THE SCHOOL'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS FOR ALL YEARS SUBSEQUENT TO 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: INCREASE IN ALLOWANCE FOR UNCOLLECTIBLE PLEDGES -1,087,855. LOSS ON INTEREST RATE SWAP -3,571,378. LOSS ON SALES OF ASSETS OTHER THAN INVENTORY -1,472,243. TOTAL TO SCHEDULE D, PART XI, LINE 8: -6,131,476. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -2,581,387. RENTAL EXPENSES 108,926. COST OF GOODS SOLD 1,424,377. SPECIAL EVENT EXPENSES 263,861. FOOD SERVICE CROSS CHARGES 92,970. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -2,581,387. RENTAL EXPENSES 108,926. COST OF GOODS SOLD 1,424,377. SPECIAL EVENT EXPENSES 263,861. INCREASE IN ALLOWANCE FOR UNCOLLECTIBLE PLEDGES 1,087,855. FOOD SERVICE CROSS CHARGES 92,970. LOSS FROM SALES OF ASSETS OTHER THAN INVENTORY 1,472,243. LOSS ON INTEREST RATE SWAP 3,571,378. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE LOVETT SCHOOL'S NONDISCRIMINATORY POLICY IS DISCLOSED IN ALL SCHOOL HANDBOOKS AND POLICY MANUALS, PRINTED MATERIALS PROVIDED TO PROSPECTIVE STUDENTS, FAMILIES AND EMPLOYEES, AND ON THE SCHOOL'S WEBSITE. ANNUALLY THE SCHOOL PUBLISHES AN ADVERTISEMENT IN THE LOCAL NEWSPAPER COMMUNICATING THE POLICY. 1 SOUTH AMERICA 1 1 EDUCATION AND RESEARCH SIEMPRE VERDE PROVIDES TROPICAL CONSERVATION EDUCATION OPPORTUNITIES FOR STUDENTSSIEMPRE VERDE IS A PROTECTED PRESERVE OF CLOUD FOREST PROPERTY IN ECUADOR OWNED AND SUPPORTED BY LOVETT TO PROMOTE TROPICAL CONSERVATION EDUCATION. THE EDUCATIONAL INSTITUTION OFFERS STUDENTS AN OPPORTUNITY TO LEARN CONSERVATION METHODS THROUGH RESEARCH AND THE EXCHANGE OF IDEAS. 135395 CENTRAL AMERICA & THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENT MISSION TRIP 133577 1 1 0 0 1 1 268972 0 268972 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: PAYMENTS TO FOREIGN INDIVIDUALS ARE MADE AFTER PROGRAM DIRECTOR HAS VERIFIED PERFORMANCE OF REQUIRED MAINTENANCE AND COOKING SERVICES. PROGRAM DIRECTOR MAKES PERIODIC TRIPS TO THE REGION AND VERIFIES USE OF FUNDS TRANSFERRED AND OBTAINS DOCUMENTATION (I.E. RECEIPTS) WHEN POSSIBLE. LOVETT PARENT ASSOCIATION 38771 7881 30890 19464 LOVETT LIONBACKERS BOOSTER CLUB 224563 68947 155616 10811 26258 105741 2 140393 89000 51393 2275 99312 403727 165828 237899 10811 28533 224517 263861 -25962 1 FINANCIAL AID FOR TUITION AND FEES 209 2581387 0 BOOK NOT APPLICABLE PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE SCHOOL PROVIDES FINANCIAL AID TO QUALIFYING STUDENTS THAT ATTEND THE SCHOOL. THE GRANTS ARE TREATED AS A REDUCTION OF REVENUE AND ARE APPLIED DIRECTLY TO TUITION BY THE SCHOOL. SINCE THE SCHOOL, NOT THE RECIPIENTS, MAINTAIN CONTROL OF THE FUNDS, NO FORMAL MONITORING PROCESS IS NECESSARY. X X X 0 1 X X X X 0 1 0 0 0 1 0 0 0 WILLIAM S PEEBLES IV 300190 0 75000 0 4971 0 97424 0 95986 0 573571 0 0 0 DAVID MERIWETHER JR 206108 0 0 0 0 0 0 0 30571 0 236679 0 0 0 STEVE ALLEN 142144 0 0 0 25031 0 0 0 26694 0 193869 0 0 0 WILLIAM P DUNKEL 160459 0 7075 0 0 0 0 0 29620 0 197154 0 0 0 ANDREW SPENCER 134199 0 0 0 1050 0 0 0 31315 0 166564 0 0 0 STEVE FRANKS 132270 0 0 0 840 0 0 0 29417 0 162527 0 0 0 PART I, LINE 1A WILLIAM S. PEEBLES, IV - RESIDENCE FOR PERSONAL USE, AND HOUSEKEEPING; TAX INDEMNIFICATION AND GROSS UP PAYMENTS FOR LONG-TERM DISABILITY. DAVID MERIWETHER - TAX INDEMNIFICATION AND GROSS UP PAYMENTS FOR LONG-TERM DISABILITY. PART I, LINE 1B THE HEADMASTER HAS AN EMPLOYMENT AGREEMENT THAT REQUIRES THE HEADMASTER TO USE THE RESIDENCE AT THE SCHOOL WHICH INCLUDES NECESSARY AND REASONABLE MAINTENANCE. PART I, LINE 4B PURSUANT TO AN EMPLOYMENT AGREEMENT, THE SCHOOL CONTRIBUTED TO A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN ON BEHALF OF THE HEADMASTER. AMOUNTS CONTRIBUTED FOR THE CALENDAR YEAR 2011 TOTALED $97,424. PART I, LINE 6 PURSUANT TO AN EMPLOYMENT AGREEMENT, THE BOARD MAY APPROVE COMPENSATION TO THE HEADMASTER BASED ON REACHING CERTAIN FINANCIAL AND NON-FINANCIAL GOALS. DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 359900YS0 2009-08-05 40000000 SCHOOL BUILDINGS & ATHLETIC FACILITIES 0 0 0 3500000 56086659 16086659 40000000 2010 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 1 SCHEDULE K, PART II, PROCEEDS LINE 3 TOTAL PROCEEDS ARE DIFFERENT DUE TO SERIES 2008 TRANSFERRED PROCEEDS OF $16,043,748 + $42,911 IN INVESTMENT EARNINGS ON SUCH PROCEEDS. STEVE ALLEN HOME MORTGAGE X 100000 37751 0 1 1 DEBBIE LANGE COMPUTER LOAN X 2548 1090 0 0 1 ANDY SPENCER COMPUTER LOAN X 786 58 0 0 1 38899 WILLIAM H ROGERS JR TRUSTEE 1510635 FEES AND INTEREST EXPENSE TO SUNTRUST BANK 0 X 92 571419 MARKET QUOTATIONS 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES, ELIZABETH WEST AND CLAYTON JACKSON ARE BUSINESS ASSOCIATES. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNANCE COMMITTEE SHALL PRESENT TO THE BOARD NOMINATIONS FOR TRUSTEES AND OFFICERS TO BE ELECTED BY THE BOARD. THE COMMITTEE SHALL FURNISH INFORMATION RELATING TO THE BACKGROUND AND QUALIFICATIONS OF ALL SUCH NOMINEES WITH THE NOTICE OF THE BOARD MEETING AT WHICH AN ELECTION OR APPOINTMENT IS SCHEDULED TO BE CONSIDERED BY THE BOARD. THE COMMITTEE, ON AN ON-GOING BASIS, SHALL DETERMINE THE CHARACTERISTICS AND PROFILE FOR TRUSTEE CANDIDATES AND SHALL MAINTAIN A CURRENT PROFILE OF THE BOARD'S MEMBERSHIP COMPOSITION TO GUIDE THE SELECTION PROCESS. THE COMMITTEE SHALL ANNUALLY REVIEW AND EVALUATE THE PERFORMANCE OF INCUMBENT TRUSTEES AND BOARD OFFICERS WHOSE TERMS EXPIRE DURING SUCH SCHOOL YEAR AND WHO ARE ELIGIBLE FOR REELECTION, AND SHALL DEVELOP AND HELP ADMINISTER A PROGRAM OF ORIENTATION WITH THE CHAIRMAN OF THE BOARD AND THE HEADMASTER FOR NEWLY-ELECTED TRUSTEES. THE COMMITTEE MAY ALSO NOMINATE TRUSTEES EMERITI FOR APPOINTMENT BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS ARE APPROVED AT THE COMMITTEE LEVEL AND OTHERS REQUIRE APPROVAL OF THE FULL BOARD AND OR EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11 THE SCHOOL'S AUDIT COMMITTEE REVIEWS AND APPROVES THE FORM 990 AND THEN DISTRIBUTES COPIES TO THE FULL BOARD VIA MAIL OR EMAIL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY ALL MEMBERS OF THE BOARD OF TRUSTEES, KEY EMPLOYEES AND HIGHEST COMPENSATED EMPLOYEES COMPLETE A CONFLICT OF INTEREST AND FAMILY AND BUSINESS RELATIONSHIP DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, THE COMPENSATION OF THE KEY EMPLOYEES AND THE TOP TEN COMPENSATED EMPLOYEES ARE REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. COMPENSATION IS COMPARED TO SIMILAR POSITIONS AT OTHER PEER SCHOOLS AND COMPENSATION SURVEYS CONDUCTED BY SCHOOL ASSOCIATIONS. FORM 990, PART VI, SECTION C, LINE 18 THE SCHOOL'S FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: INCREASE IN ALLOWANCE FOR UNCOLLECTIBLE PLEDGES -1,087,855. LOSS ON INTEREST RATE SWAP -3,571,378. LOSS ON SALES OF ASSETS OTHER THAN INVENTORY -1,472,243. TOTAL TO FORM 990, PART XI, LINE 5: -6,131,476. FORM 990, PART XII, LINE 2C, AUDIT OVERSIGHT: THE ORGANIZATION DID NOT CHANGE ITS AUDIT OVERSIGHT PROCESS NOR ITS AUDIT SELECTION PROCESS DURING THE TAX YEAR.