2026-03-13T06:20:12-05:00 2025-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2024-07-01 231352646 HAVERFORD SCHOOL HAVE 4844172722 450 LANCASTER AVENUE HAVERFORD PA 19041 PETER MAAS CFO 4844172722 2025-12-01 1 1 KERRI N BOGDA P00760402 7177404863 2026-02-26 2024 2025-03-06 01:10:19Z PETER MAAS 450 LANCASTER AVENUE HAVERFORD PA 19041 56201172 0 X WWW.HAVERFORD.ORG X 1916 PA A NON-SECTARIAN COLLEGE PREP SCHOOL PRE-K-12, EDUCATES QUALIFIED BOYS OF DIFFERING BACKGROUNDS. 27 26 348 58 978849 680977 11968415 11115553 39764528 40974980 1282231 1135431 2438882 2592802 55454056 55818766 10098643 10103617 0 0 23441225 24009780 0 0 3868909 17517528 17612852 51057396 51726249 4396660 4092517 234473219 251179343 57701262 58902372 176771957 192276971 X THE HAVERFORD SCHOOL, A NON-SECTARIAN COLLEGE PREPARATORY SCHOOL FOR JUNIOR KINDERGARTEN THROUGH GRADE TWELVE, PROVIDES A SUPERIOR LIBERAL ARTS EDUCATION FOR QUALIFIED BOYS OF DIFFERING BACKGROUNDS. WE ARE COMMITTED TO DEVELOPING THE FULL INTELLECTUAL, ARTISTIC, ATHLETIC AND MORAL POTENTIAL IN EACH BOY, AND WE AIM TO GRADUATE YOUNG MEN WITH STRONG CHARACTER WHO POSSESS A PASSION FOR LEARNING AND PROBLEM SOLVING. 0 0 41794929 10103617 40974980 PREPARING YOUNG MEN ACADEMICALLY FOR THE FUTURE IS UNDOUBTEDLY ONE OF THE MOST VALUABLE BENEFITS OF A HAVERFORD EDUCATION. BUT MORE IMPORTANTLY, WE GIVE BOYS A FOUNDATION OF SKILLS THEY NEED TO LEAD A FULFILLING AND MEANINGFUL LIFE. AS OUR STATEMENT OF VISION READS, "THE HAVERFORD FACULTY PREPARES EACH BOY TO BE FUTURE-READY THROUGH DEVELOPING HIS CHARACTER AND HIS EMOTIONAL INTELLIGENCE, AS WELL AS HIS ACADEMIC, ARTISTIC, AND ATHLETIC TALENTS."THE HAVERFORD SCHOOL INCURS DIRECT INSTRUCTIONAL EXPENSES IN PRE-KINDERGARTEN THROUGH GRADE 12, ATHLETIC PROGRAMS, AND OTHER EXTRA-CURRICULAR ACTIVITY EXPENSES FOR APPROXIMATELY 950 STUDENTS. 41794929 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 106 0 348 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA MA NJ NY NM CO CA FL IL IN KS LA MT OK UT WV X PETER MAAS CHIEF FINANCIAL OFFICER 4844172722 450 LANCASTER AVENUE HAVERFORD PA 19041 TYLER CASERTANO HEADMASTER 40.00 0.00 X X 556392 0 92004 MAURICE D GLAVIN CHAIR 7.00 0.00 X X 0 0 0 GEORGE B LEMMON JR VICE CHAIR 0.50 0.00 X X 0 0 0 MICHAEL J PURCELL TREASURER 0.50 0.00 X X 0 0 0 PETER W HENNESSEY SECRETARY 0.50 0.00 X X 0 0 0 JOHN A BARTHOLDSON TRUSTEE 0.50 0.00 X 0 0 0 KENNETH M BATE TRUSTEE 0.50 0.00 X 0 0 0 DEA T BELAZI TRUSTEE 0.50 0.00 X 0 0 0 AMY C BRIDDELL TRUSTEE 0.50 0.00 X 0 0 0 WILLIAM T CADDELL JR TRUSTEE 0.50 0.00 X 0 0 0 DANIEL R CLARK TRUSTEE 0.50 0.00 X 0 0 0 WILLIAM G COSTIN IV TRUSTEE 0.50 0.00 X 0 0 0 HANS R DAVIES TRUSTEE 0.50 0.00 X 0 0 0 AMBER V DIXON TRUSTEE 0.50 0.00 X 0 0 0 CHRISTOPHER C DODSON TRUSTEE 0.50 0.00 X 0 0 0 MICHAEL R DUBIN TRUSTEE 0.50 0.00 X 0 0 0 THADDEUS J FORTIN TRUSTEE 0.50 0.00 X 0 0 0 SAMUEL M V HAMILTON III TRUSTEE 0.50 0.00 X 0 0 0 QUINCY B MCCOY TRUSTEE 0.50 0.00 X 0 0 0 WADE L MCDEVITT TRUSTEE 0.50 0.00 X 0 0 0 ALANA M MURPHY TRUSTEE 0.50 0.00 X 0 0 0 MARTHA E ORTIZ TRUSTEE 0.50 0.00 X 0 0 0 G BART SMITH TRUSTEE 0.50 0.00 X 0 0 0 FITZ DANIEL T TEPPER TRUSTEE 0.50 0.00 X 0 0 0 EDWARD M TRUSTY JR TRUSTEE 0.50 0.00 X 0 0 0 MCCARTNEY K WILKINS TRUSTEE 0.50 0.00 X 0 0 0 ROLAND YANG TRUSTEE 0.50 0.00 X 0 0 0 IRIS H DIBERNARDO TRUSTEE 0.50 0.00 X 0 0 0 NAFIS T SMITH TRUSTEE 0.50 0.00 X 0 0 0 PETER MAAS CFO 40.00 0.00 X 265381 0 45380 JAMES THORBURN ASSISTANT HEADMASTER 40.00 0.00 X 323520 0 34499 JAMES J GREYTOK JR HEAD OF MIDDLE SCHOOL 40.00 0.00 X 222028 0 37868 MICHAEL MURPHY ATHLETIC DIRECTOR 40.00 0.00 X 205877 0 37285 PAM GREENBLATT ASST. HEAD OF SCHOOL FOR ACADEMICS 40.00 0.00 X 189118 0 71851 BOBBY CPIN DIRECTOR OF DEVELOPMENT 40.00 0.00 X 241494 0 12497 MARK FIFER UPPER SCHOOL HEAD 40.00 0.00 X 152714 0 23644 GEORGE WOOD SENIOR DIRECTOR OF MAJOR GIFTS 40.00 0.00 X 169789 0 28288 MICHELE TODD DIR. OF HUMAN RESOURCES 40.00 0.00 X 143521 0 33180 DONTA EVANS DIR. OF ADM. & ENROLLMENT MGMT. 40.00 0.00 X 131305 0 78698 MARY-HELEN LEWIS DIRECTOR OF PLANNED GIVING 40.00 0.00 X 137280 0 46582 CHRISTOPHER FOX ART DEPARTMENT CHAIR 40.00 0.00 X 135168 0 31739 2873587 0 573515 53 0 1 0 SODEXO PO BOX 360170 PITTSBURGH PA 152516170 FOOD SVC/FACILITY MGT 5221359 RAFFAELE & ASSOCIATES 1230 COUNTY LINE ROAD BRYN MAWR PA 19010 LEGAL SERVICES 500000 FAEGRE DRINKER BIDDLE & REATH LLP ONE LOGAN SQ STE 2000 PHILADELPHIA PA 19103 LEGAL SERVICES 456860 UNIVERSAL PROTECTION SERVICE LP PO BOX 828854 PHILADELPHIA PA 19182 SECURITY 394418 CP RANKIN INC 4359 COUNTY LINE ROAD CHALFONT PA 18914 ROOFING 387317 14 311309 169636 10634608 464729 11115553 TUITION & FEES 611710 40017128 40017128 DAY CARE PROGRAM 611710 690471 690471 MUSIC LESSONS 611710 189781 189781 ENRICHMENT PROGRAM 611710 77600 77600 40974980 1135431 695851 439580 264316 50309 214007 214007 214007 219086 311309 225348 -6262 -6262 267868 106749 161119 161119 CAFETERIA 611710 1422683 48503 1374180 SUMMER CAMP 611710 246632 233978 12654 CAFE SALES 611710 188283 188283 366340 517 365823 2223938 55818766 40974980 978849 2749384 10103617 10103617 2593089 1361214 960195 271680 147539 147539 15540209 12902983 1241849 1395377 1410457 1209586 97402 103469 3002973 2479858 278217 244898 1315513 1081157 131375 102981 253001 253001 69956 69956 526273 526273 2831495 2193426 382947 255122 153808 95147 58661 406807 91425 220066 95316 450347 428652 21695 1266714 965948 170989 129777 392584 289915 102669 269498 173407 74454 21637 1556330 1190958 207718 157654 4367024 3341800 582852 442372 321521 246544 42625 32352 UNRELATED BUSINESS TAX 129113 129113 FOOD SERVICE 1835543 1835543 INSTRUCTIONAL EXPENSES 918584 859410 59174 ATHLETIC DEPARTMENT 629216 629216 1235038 262731 539058 433249 51726249 41794929 6062411 3868909 X 6132 6132 17210163 8052755 2210044 1809585 43519 52147 595557 393405 168144636 70498668 98931909 97645968 13348313 26635080 101439353 115872333 22912 0 665317 711938 234473219 251179343 2216322 2222311 3831561 5115697 30902320 30889253 20680556 20625000 70503 50111 57701262 58902372 X 135647364 146869603 41124593 45407368 176771957 192276971 234473219 251179343 X 4092517 11379160 33337 X 0 1 X 1 0 X 5736623 9466415 11841190 11968415 11115553 50128196 5736623 9466415 11841190 11968415 11115553 50128196 3914337 46213859 1697170 540235 731409 942659 703896 4615369 16610 190162 182125 269755 680977 1339629 1068182 1899515 1980148 2317206 2427895 9692946 65776140 192442449 0.70260 0.69570 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: APPLICATION FEES - 2020 AMOUNT: $ 27,860. ATHLETICS - 2020 AMOUNT: $ 56,300. 2021 AMOUNT: $ 82,500. 2022 AMOUNT: $ 70,645. 2023 AMOUNT: $ 89,460. 2024 AMOUNT: $ 66,950. CAFE SALES - 2020 AMOUNT: $ 97,216. 2021 AMOUNT: $ 176,287. 2022 AMOUNT: $ 191,628. 2023 AMOUNT: $ 216,169. 2024 AMOUNT: $ 188,283. CAFETERIA - 2020 AMOUNT: $ 487,930. 2021 AMOUNT: $ 1,133,753. 2022 AMOUNT: $ 1,275,667. 2023 AMOUNT: $ 1,323,217. 2024 AMOUNT: $ 1,374,180. ESF SPONSORSHIP - 2022 AMOUNT: $ 11,458. HALL OF FAME DINNER - 2022 AMOUNT: $ 18,440. MADOFF VICTIM FUND - 2022 AMOUNT: $ 5,311. NON-CHARITABLE FUNDRAISING RECEIPTS - 2020 AMOUNT: $ 338,710. 2021 AMOUNT: $ 393,208. 2022 AMOUNT: $ 277,097. 2023 AMOUNT: $ 404,928. 2024 AMOUNT: $ 219,086. OTHER - 2020 AMOUNT: $ 37,724. 2021 AMOUNT: $ 89,897. 2022 AMOUNT: $ 37,492. 2023 AMOUNT: $ 209,663. 2024 AMOUNT: $ 11,167. OUTSIDE CATERING - 2023 AMOUNT: $ 25,772. 2024 AMOUNT: $ 20,979. SCHOOL STORE - 2020 AMOUNT: $ 2,053. 2021 AMOUNT: $ 4,476. 2022 AMOUNT: $ 2,613. 2024 AMOUNT: $ 267,868. SUMMER CAMP - 2020 AMOUNT: $ 15,375. 2021 AMOUNT: $ 5,412. 2022 AMOUNT: $ 18,429. 2023 AMOUNT: $ 11,917. 2024 AMOUNT: $ 12,654. THEATER PRODUCTIONS - 2020 AMOUNT: $ 1,740. 2021 AMOUNT: $ 13,982. 2022 AMOUNT: $ 24,843. 2023 AMOUNT: $ 23,630. 2024 AMOUNT: $ 19,631. TUITION INSURANCE REIMBURSEMENT - 2022 AMOUNT: $ 46,525. 2023 AMOUNT: $ 12,450. YEARBOOK SALES - 2020 AMOUNT: $ 3,274. SUMMER SPORTS ACADEMY - 2024 AMOUNT: $ 111,562. TAX REIMBURSEMENT - 2024 AMOUNT: $ 135,535. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 114787664 1481918 11360995 520898 127109679 107850146 1274902 5916715 254099 114787664 105916013 905359 1156356 127582 107850146 109192458 2584495 -5552067 308873 105916013 86416352 1188696 22008899 421489 109192458 0.64750 0.28790 0.06460 0 0 10123319 10123319 139872811 62516392 77356419 17859371 7982276 9877095 289135 289135 97645968 ALTERNATIVE INVESTMENTS 115872333 F 115872333 ACCR. POSTRETIREMENT BENEFIT COST 50111 50111 X 56984582 11379160 -10103617 1275543 55709039 526273 -416546 109727 55818766 41479568 383209 383209 41096359 526273 10103617 10629890 51726249 PART V, LINE 4: THE ENDOWMENT FUND SUPPORTS THE MISSION OF THE SCHOOL THROUGH SCHOLARSHIPS, PROGRAM SUPPORT, AND FACULTY SUPPORT. PART X, LINE 2: THE SCHOOL ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE SCHOOL'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. NO INTEREST OR PENALTIES WERE RECOGNIZED IN 2025 OR 2024. THE SCHOOL'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) FOR THE YEARS ENDED JUNE 30, 2024, 2023 AND 2022 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THE DATE THE RETURN WAS FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANTS TO INDIVIDUALS -10,103,617. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -33,337. FUNDRAISING EXPENSES -332,900. RENTAL EXPENSES -50,309. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 332,900. RENTAL EXPENSES 50,309. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS TO INDIVIDUALS 10,103,617. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE HAVERFORD SCHOOL IS A MEMBER OF A LOCAL CONSORTIUM CALLED "ADVIS" THAT PUBLISHES A NONDISCRIMINATORY STATEMENT IN NEWSPAPERS. SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES BOOKS FROM THE PENNSYLVANIA DEPARTMENT OF EDUCATION. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 29510415 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES EDUCATIONAL TRIPS FOR STUDENTS 5830 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES EDUCATIONAL TRIPS FOR STUDENTS 216699 0 0 0 0 0 0 29732944 0 29732944 1 0 1 1 1 0 SCHEDULE F, PART IV, LINES 3, 4 AND 5: THE ORGANIZATION HAS INTERESTS IN FOREIGN CORPORATIONS AND PARTNERSHIPS, HOWEVER, ITS PERCENTAGE OWNERSHIP DOES NOT EXCEED THE THRESHOLD FOR REPORTING ON THESE FOREIGN FORMS. DURING FY 2025, THE ORGANIZATION MADE TRANSFERS TO A FOREIGN CORPORATION THAT EXCEEDED THE THRESHOLD FOR FILING FORM 926. HSPA PARTY FOR A PURPOSE 376789 239379 137410 92143 DOC THOMAS GOLF OUTING 70055 30955 39100 32845 1 63375 40975 22400 21533 510219 311309 198910 124988 21533 146521 52389 1 SCHOLARSHIPS & FINANCIAL AID 401 10103617 PART I, LINE 2: GRANT FUNDS ARE DETERMINED USING AN OUTSIDE SERVICE WHICH CALCULATES NEED FOR TUITION ASSISTANCE. THE FUNDS OR TUITION DISCOUNT IS THEN APPLIED AGAINST THE TUITION OBLIGATION AT THE SCHOOL. FAMILIES ARE ASKED TO NOTIFY THE SCHOOL IF THEIR FINANCIAL SITUATION CHANGES. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 TYLER CASERTANO HEADMASTER 433184 0 114808 0 8400 0 34500 0 57504 0 648396 0 0 0 JAMES THORBURN ASSISTANT HEADMASTER 276020 0 0 0 47500 0 26491 0 8008 0 358019 0 0 0 PETER MAAS CFO 265381 0 0 0 0 0 27075 0 18305 0 310761 0 0 0 PAM GREENBLATT ASST. HEAD OF SCHOOL FOR ACADEMICS 159118 0 0 0 30000 0 17492 0 54359 0 260969 0 0 0 JAMES J GREYTOK JR HEAD OF MIDDLE SCHOOL 192028 0 0 0 30000 0 20016 0 17852 0 259896 0 0 0 BOBBY CPIN DIRECTOR OF DEVELOPMENT 241494 0 0 0 0 0 9988 0 2509 0 253991 0 0 0 MICHAEL MURPHY ATHLETIC DIRECTOR 175877 0 0 0 30000 0 18523 0 18762 0 243162 0 0 0 DONTA EVANS DIR. OF ADM. & ENROLLMENT MGMT. 131305 0 0 0 0 0 13990 0 64708 0 210003 0 0 0 GEORGE WOOD SENIOR DIRECTOR OF MAJOR GIFTS 169789 0 0 0 0 0 17443 0 10845 0 198077 0 0 0 MARY-HELEN LEWIS DIRECTOR OF PLANNED GIVING 137280 0 0 0 0 0 14133 0 32449 0 183862 0 0 0 MICHELE TODD DIR. OF HUMAN RESOURCES 143521 0 0 0 0 0 15326 0 17854 0 176701 0 0 0 MARK FIFER UPPER SCHOOL HEAD 152714 0 0 0 0 0 15789 0 7855 0 176358 0 0 0 CHRISTOPHER FOX ART DEPARTMENT CHAIR 135168 0 0 0 0 0 13995 0 17744 0 166907 0 0 0 PART I, LINE 1A HEADMASTER TYLER CASERTANO RECEIVED A CAR ALLOWANCE THAT WAS INCLUDED IN HIS TAXABLE WAGES. THE MARKET VALUE OF HIS CAR ALLOWANCE FOR 2024 WAS $8,400. THE FOLLOWING PERSONNEL ARE REQUIRED TO RESIDE ON CAMPUS AND THEIR HOUSING ALLOWANCES ARE LIKEWISE INCLUDED IN THEIR TAXABLE WAGES: JAMES THORBURN, JAMES GREYTOK JR, PAM GREENBLATT, AND MICHAEL MURPHY. JAMES THORBURN ALSO RECEIVED A TAX GROSS-UP PAYMENT RELATED TO HIS TAXABLE HOUSING ALLOWANCE. PART I, LINE 7 THE HEADMASTER RECEIVED A BONUS BASED ON GOALS AND CRITERIA DETERMINED BY THE BOARD ON A DISCRETIONARY BASIS. THE CRITERIA WERE NOT BASED ON EITHER REVENUE OR NET EARNINGS. A MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 613609K70 2019-08-29 31346737 REFINANCING PREVIOUS DEBT AND ADDITIONAL FUNDS FOR NEW CONSTRUCTION 0 0 0 A 31346737 280927 4065810 27000000 2020 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 0 0 0 1 A 1 PART IV, LINE 2C: THERE IS NO ARBITRAGE ON THIS BOND, SO THERE IS NO REBATE TO BE COMPUTED. KATHERINE THORBURN KATHERINE THORBURN IS THE SPOUSE OF JAMES THORBURN, A KEY EMPLOYEE 147539 KATHERINE THORBURN IS AN EMPLOYEE AS IS HER SPOUSE, JAMES THORBURN. KATHERINE'S SALARY AND BENEFITS ARE BEING REPORTED. KATHERINE DOES NOT REPORT TO JAMES NOR DOES JAMES PARTICIPATE IN SALARY DISCUSSIONS RELATED TO KATHERINE. 0 X 169636 PURCHASE PRICE X 23 190418 NYSE X AUCTION ITEMS 88 104675 COST 0 0 1 0 PART I, COLUMN (B): THE NUMBERS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1A SOMETIMES THE BROADER BOARD WILL VOTE TO GIVE AUTHORITY TO THE EXECUTIVE COMMITTEE, COMPOSED OF THE CHAIR, THE VICE CHAIR, SECRETARY, TREASURER, THREE OTHER MEMBERS AND THE HEADMASTER. THE SCOPE IS ON A CASE BY CASE BASIS. FORM 990, PART VI, SECTION B, LINE 11B THE INITIAL REVIEW IS UNDERTAKEN BY THE CHIEF FINANCIAL OFFICER. ONCE THE CFO APPROVES, THE SCHOOL WILL THEN CIRCULATE THE RETURN IN ITS ENTIRETY TO THE FULL BOARD FOR COMMENTS OR QUESTIONS BEFORE THE RETURN IS TRANSMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE BOARD OF TRUSTEES IS REQUIRED TO COMPLETE A QUESTIONNAIRE TO HIGHLIGHT ANY CONFLICTS. BUSINESS AND PERSONAL RELATIONSHIPS ARE SPECIFICALLY MENTIONED IN THE POLICY AS HAVING POTENTIAL FOR CONFLICTS OF INTEREST. THE CHIEF FINANCIAL OFFICER REVIEWS THE FORMS ANNUALLY TO DETERMINE IF ANY CONFLICTS EXIST. IF A POTENTIAL CONFLICT ARISES, THE BOARD MEMBER, OFFICER, OR KEY EMPLOYEE IN QUESTION RECUSES HIMSELF OR HERSELF FROM ANY VOTES OR DECISIONS RELATED TO THE CONFLICT. OFFICERS AND KEY EMPLOYEES ARE HELD RESPONSIBLE FOR ANY POTENTIAL CONFLICTS UNDER THE SCHOOL'S "CODE OF CONDUCT" POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL'S COMPENSATION IS DETERMINED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE EXECUTIVE COMMITTEE. THEY ENGAGE AN OUTSIDE CONSULTANT FOR ASSISTANCE IN DETERMINING THE HEAD OF SCHOOL'S CONTRACT. THE CONSULTANT BENCHMARKS/SAFE HARBORS AGAINST OTHER HEADS OF SCHOOL IN THE INDUSTRY TO ENSURE THE HEAD OF SCHOOL'S COMPENSATION IS WITHIN FAIR MARKET RANGE. THE CURRENT HEAD OF SCHOOL STARTED IN 2021, AND HAS A CONTRACT THROUGH 2026. CHANGES SUCH AS THE NEW HEAD OF SCHOOL'S EMPLOYMENT CONTRACT ARE DOCUMENTED IN THE BOARD MINUTES. OTHER KEY EMPLOYEES' SALARIES ARE ANNUALLY BENCHMARKED WITH SALARY INFORMATION FROM SIMILAR LOCAL SCHOOLS, BY THE DIRECTOR OF HUMAN RESOURCES. THE HEAD OF SCHOOL DETERMINES COMPENSATION FOR OTHER KEY EMPLOYEES. THE HEAD OF SCHOOL CONSULTS WITH THE CHAIRMAN OF THE BOARD OF TRUSTEES AND FINANCE COMMITTEE CHAIR ON OTHER KEY EMPLOYEE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 33,337.