2011-03-18T14:10:50-05:00 2010-06-30 BUETOW LEMASTUS & DICK PLLC 1510 PNC PLAZA LOUISVILLE KY 40202 990 2009-07-01 610731998 KENTUCKY COUNTRY DAY SCHOOL INC KENT 5024230440 4100 SPRINGDALE ROAD LOUISVILLE KY 40241 LARRY E COOPER 5024230440 2011-03-18 1 5025686533 2009 2016-02-24 21:20:13Z BRADLEY E LYMAN 4100 SPRINGDALE ROAD LOUISVILLE KY 40241 17103921 0 X WWW.KCD.ORG X SCHOOL 1972 KY High quality education 24 23 293 1000 0 0 3697058 1960231 14179086 14760371 162121 -143250 124758 79159 18163023 16656511 1599552 1990863 0 9933198 10208477 125353 0 442048 3576212 3762275 15234315 15961615 2928708 694896 33011075 36761035 9985253 11448190 23025822 25312845 Kentucky Country Day School's mission is to provide the highest quality education through an exceptionally qualified faculty in an increasingly diverse educational community. 0 0 9992870 1990863 14760371 KCD focuses on providing stimulation for individual expression and achievement for the 920 students enrolled in grades K-12. 100% of KCD's upper school students are college bound. In addition, KCD student SAT scores are typically more than 250 points higher than the national average. 510948 The cafeteria provides well-balanced lunches and refreshments to students, faculty and staff. 510948 10503818 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 1 15 0 1 293 1 0 0 0 0 0 0 0 0 0 24 23 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 KY X X ANNIE KARABA 5024230440 4100 SPRINGDALE ROAD LOUISVILLE KY 40241 SCOTT FERGUSON X 0 0 0 DOUG SUMNER X 0 0 0 MARY BARRAZOTTO X 0 0 0 LOUANN ATLAS X 0 0 0 RUSS COX X 0 0 0 SUSAN D LAVIN X 0 0 0 ARCHIE PARSLEY X 0 0 0 TED MITZLAF X 0 0 0 PATTY WEST X 0 0 0 DAN RECHTER X 0 0 0 HEATHER ALFORD X 0 0 0 TERRI ALLEN X 0 0 0 TODD BLUE X 0 0 0 RICHARD CARUCCI X 0 0 0 PAIDEMOYO CHARASIKA X 0 0 0 DAVID GARNER X 0 0 0 RUDY GERNERT X 0 0 0 ROBERT JONES X 0 0 0 MAC MACLIN X 0 0 0 CHAMBERS MOORE X 0 0 0 SUSAN MOSS X 0 0 0 PHILIP POINDEXTER X 0 0 0 BILL TWAY X 0 0 0 JULIE WALKOFF X 0 0 0 JAMES ELLIOT 50.00 X 104000 0 17885 LARRY COOPER 50.00 X 110800 0 19514 BRADLEY LYMAN 50.00 X 327455 0 33443 JAMES T GREEN 50.00 X 122000 0 65362 664255 0 136204 4 0 1 0 0 55304 1904927 170297 1960231 TUITION AND FEES 611600 14382330 14382330 AFTER SCHOOL PROGRAMS 611600 176111 176111 SUMMER PROGRAM INCOME 611600 143983 143983 EVENTS INCOME 611600 39218 39218 BOOKSTORE INCOME 611600 7859 7859 10870 10870 14760371 260453 260453 18660 5262 13398 13398 13398 402706 997 -402706 -997 -403703 -403703 103803 55304 38445 65358 65358 VENDING INCOME 611710 403 403 403 16656511 14774172 0 -77892 1990863 1990863 800458 22220 566129 212109 7827314 5898031 1864464 64819 535629 385653 123195 26781 454434 327192 104520 22722 590642 425262 135848 29532 16956 16956 36100 36100 31557 31557 22129 22129 265376 228223 26538 10615 107402 48331 59071 83444 83444 762651 762651 ADMINISTRATIVE-OTHER 698477 698477 INSTRUCTIONAL-OTHER 594831 594831 CAFETERIA-OTHER 327462 327462 UNCOLLECTIBLE ACCOUNTS 220835 220835 OPERATIONS-OTHER 169509 169509 425546 255750 94326 75470 15961615 10503818 5015749 442048 4436867 2995240 3810564 3819151 12094 73167 238805 246848 26567437 8888530 13562975 17678907 10103314 10926195 772629 872205 73827 149322 33011075 36761035 1381651 2128071 5152931 4517537 2930885 4281822 283634 256273 236152 264487 9985253 11448190 X 8824999 14650607 4684861 492704 9515962 10169534 23025822 25312845 33011075 36761035 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10876647 400568 1011824 465000 25639 11798400 9755886 2888874 -1280323 463000 24790 10876647 0.29960 0.70040 0 0 672470 672470 20164195 8888530 11275665 582113 582113 5148659 5148659 17678907 DEPOSITS HELD FOR OTHERS 264487 264487 16656511 15961615 694896 1414530 177597 1592127 2287023 16270922 1414530 44704 1459234 14811688 31557 1813266 1844823 16656511 13983899 44704 44704 13939195 2022420 2022420 15961615 SCHEDULE D, PAGE 4, PART XI, LINE 8: CHANGE IN VALUE OF SPLIT INTEREST TRUST: 177,597 SCHEDULE D, PAGE 4, PART XII, LINE 2d: SPECIAL EVENT EXPENSES 38,445 RENTAL EXPENSES 5,262 LOSS ON SALE OF ASSET 997 SCHEDULE D, PAGE 4, PART XII, LINE 4d: FINANCIAL AID 1,990,863 CHANGE IN VALUE OF SPLIT INTEREST TRUST -177,597 SCHEDULE D, PAGE 4, PART XIII, LINE 2d: SPECIAL EVENT EXPENSES 38,445 RENTAL EXPENSES 5,262 LOSS ON SALE OF ASSET 997 SCHEDULE D, PAGE 4 PART XIII, LINE 4d: FINANCIAL AID 1,990,863 MISCELLANEOUS EXPENSES 31,557 1 1 1 Racially nondiscriminatory policies are publicized through advertisement both in print and broadcast. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 AUCTION 152382 48579 103803 38445 152382 48579 103803 38445 38445 65358 ANNIE KARABA 4100 SPRINGDALE ROAD LOUISVILLE KY 40241 1 FINANCIAL AID 63 670565 ACTUAL COST TUITION ASSISTANCE (EMPLOYEE'S CHILDREN) FINANCIAL AID 37 399732 ACTUAL COST TUITION ASSISTANCE (GRADES 9-12) FINANCIAL AID 37 387371 ACTUAL COST TUITION ASSISTANCE (GRADES 5-8) FINANCIAL AID 63 533195 ACTUAL COST TUITION ASSISTANCE (GRADES K-4) Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: KCD MAINTAINS BOTH ELECTRONIC AND WRITTEN RECORD OF ALL GRANT RECEIPTS AND AGREEMENTS INCLUDING TERMS AND CONDITIONS OF THE USE OF FUNDS AS WELL AS REPORTING SCHEDULES. THE DIRECTOR OF DEVELOPMENT WORKS WITH THE ADDITIONAL PARTIES THAT ARE CHARGED WITH ADMINISTERING THE FUNDS TO ENSURE THAT THEY ARE BEING SPENT IN ACCORDANCE WITH THE CONDITIONS OF THE GRANT AGREEMENT. X X X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 JAMES ELLIOT 99000 0 5000 0 0 0 0 0 17885 0 121885 0 0 0 LARRY COOPER 109000 0 1800 0 0 0 0 0 19514 0 130314 0 0 0 BRADLEY LYMAN 242000 0 11500 0 73955 0 0 0 33443 0 360898 0 0 0 JAMES T GREEN 122000 0 0 0 0 0 0 0 65362 0 187362 0 0 0 Part I, Line 1a TRAVEL EXPENSES FOR THE SPOUSE OF THE HEAD OF SCHOOL IS REIMBURSED FOR ONE TRIP REQUIRED BY THE HEAD OF SCHOOL PER SCHOOL YEAR. THE HEAD OF SCHOOL LIVES IN A HOME OWNED BY THE SCHOOL. THE HEAD PAYS RENT TO KENTUCKY COUNTRY DAY SCHOOL AND HIS WAGES ARE INCREASED BY AN AMOUNT COMENSURATE WITH THE RENT AND ITS TAXABLE EFFECT ON THE HEAD'S INCOME. THE UTILITIES AND MAINTENANCE EXPENSES ASSOCIATED WITH THE AFOREMENTIONED HOUSE ARE PAID BY KENTUCKY COUNTRY DAY SCHOOL. CERTAIN SOCIAL CLUB DUES THROUGH WHICH THE HEAD OF SCHOOL CAN SOLICIT DONATIONS TO THE SCHOOL ARE PAID FOR BY KENTUCKY COUNTRY DAY. Part I, Line 7 THE HEAD OF SCHOOL'S BONUS IS BASED ON PREDETERMINED SCHOOL OBJECTIVES ESTABLISHED AND APPROVED ANNUALLY BY THE BOARD OF TRUSTEES. Supplemental Information Part III SCHEDULE J, PART II, COLUMN D: THE NONTAXABLE BENEFITS ARE PRIMARILY TUITION REMISSION FOR THE OFFICERS' CHILDREN ATTENDING KCD, 403b MATCH AND HEALTH INSURANCE PREMIUMS PAID BY THE SCHOOL. CITY OF BROWNSBORO FARM KENTUCKY 610845788 2009-11-01 2900157 EDUCATIONAL FACILITIES REVENUE BONDS 0 0 CITY OF BROWNSBORO FARM KENTUCKY 610845788 2009-11-01 4945780 EDUCATIONAL FACILITIES REVENUE BONDS 0 0 2824757 2824757 75400 1 0 1 1 1544102 3401678 54220 1489882 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 1 1 Stock Yards Bank 10.000000000000 0 0 0 0 1 1 Stock Yards Bank 10.000000000000 0 0 0 Emily Lyman Child of Bradley Lyman, Officer Tuition Assistance Amount $ 8095. Haley Lyman Child of Bradley Lyman, Officer Tuition Assistance Amount $ 8040. Daniel Cooper Child of Larry Cooper, Officer Tuition Assistance Amount $ 8095. Mary Kate Green Child of James Green, Key Employee Tuition Assistance Amount $ 11975. Cardin Green Child of James Green, Key Employee Tuition Assistance Amount $ 12530. Madelyn Green Child of James Green, Key Employee Tuition Assistance Amount $ 12530. Caroline Green Child of James Green, Key Employee Tuition Assistance Amount $ 12630. Riley Elliott Child of James Elliott, Officer Tuition Assistance Amount $ 6035. PARCO CONSTRUCTORS GROUP LLC FAMILY MEMBER OF KCD TRUSTEE IS AN OFFICER AND CONTROLLING SHAREHOLDER 2915684 ARCHIE PARSLEY, A KCD BOARD MEMBER, IS THE FATHER OF BRIAN PARSLEY. BRIAN PARSLEY IS AN OFFICER AND CONTROLLING SHAREHOLDER OF PARCO CONSTRUCTORS GROUP, LLC WHICH WAS CONTRACTED BY KCD TO PERFORM WORK RELATED TO THE CAMPUS EXPANSION. PARCO WAS AWARDED THE CONTRACT AFTER A BIDDING PROCESS MANAGED BY A KCD BOARD TASK FORCE (IN WHICH MR. ARCHIE PARSLEY DID NOT PLAY A ROLE), BASED ON IT BEING THE LOWEST BIDDER AND HAVING A SUCCESSFUL RECORD ON SIMILAR PROJECTS. THE FULL KCD BOARD OF TRUSTEES (WITHOUT MR. ARCHIE PARSLEY'S PARTICIPATION) APPROVED THE AWARD OF THE CONTRACT TO PARCO AND ALL SUBSEQUENT CHANGE ORDERS RECOMMENDED BY THE BOARD'S CHAIRMAN. 0 JANE LYMAN KCD TEACHER 61822 JANE LYMAN, A TEACHER AT AND EMPLOYEE OF KCD, IS THE WIFE OF BRAD LYMAN, THE HEAD OF THE SCHOOL. THE AMOUNT OF TRANSACTION LISTED IS THAT OF THE WAGES PAID TO JANE LYMAN FOR HER TEACHING 0 X 8 114993 SALES PRICE X ITEMS TO BE AUCTIONED AT FUNDRAISER 55304 FAIR MARKET VALUE 0 0 0 Form 990, Part VI, Section A, line 7a THE BOARD OF DIRECTORS NOMINATES NEW BOARD MEMBERS. Form 990, Part VI, Section B, line 11 THE 990 IS REVIEWED BY THE DIRECTOR OF BUSINESS AND FINANCE WHO PRESENTS HIS FINDINGS TO THE FINANCE/AUDIT COMMITTEE, AND THEN THE FULL BOARD OF DIRECTORS FOR APPROVAL BY BOTH BODIES. Form 990, Part VI, Section B, line 12c KCD CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. A COPY OF THE CONFLICT OF INTEREST POLICY THAT IS REQUIRED TO BE COMPLETED AND SIGNED BY TRUSTEES, CERTAIN OFFICERS AND KEY EMPLOYEES IS SHOWN BELOW. KENTUCKY COUNTRY DAY SCHOOL CONFLICT OF INTEREST, CONFIDENTIALITY AND NON-DISCLOSURE POLICY SECTION 1. PURPOSE: There exists between Kentucky Country Day and its Board of Trustees, employees and volunteers a fiduciary duty, which carries with it broad and unbending loyalty and fidelity. The Board of Trustees, employees and volunteers have the responsibility of administering the affairs of Kentucky Country Day School honestly and prudently, and of exercising their best care, skill, and judgment for the sole benefit of Kentucky Country Day School. Those persons shall exercise the utmost good faith in all transactions involved in their duties, and they shall not use their positions with Kentucky Country Day School or knowledge gained there from for their personal benefit. The interests of the organization must be the first priority in all decisions and actions. SECTION 2. PERSONS CONCERNED: This statement is directed to the Board of Trustees, employees and volunteers, who can influence the actions of Kentucky Country Day School. For example, this would include all who make purchasing decisions, all persons who might be described as "management personnel," and anyone who has proprietary information concerning Kentucky Country Day School. SECTION 3. AREAS IN WHICH CONFLICT MAY ARISE: Conflicts of interest may arise in the relations of Board of Trustees, employees and volunteers with any of the following third parties: 1. Persons and firms supplying goods and services to Kentucky Country Day School; 2. Persons and firms from whom Kentucky Country Day School leases property and equipment; 3. Persons and firms with whom Kentucky Country Day School is dealing or planning to deal with in connection with the gift, purchase or sale of real estate, securities, or other property; 4. Competing or affinity organizations; 5. Donors and others supporting Kentucky Country Day School; 6. Agencies and organizations, which affect the operations of Kentucky Country Day School; 7. Family members, friends, and other employees; SECTION 4. NATURE OF CONFLICTING INTEREST: A conflicting interest may be defined as an interest, direct or indirect, with any persons or firms mentioned in Section 3. Such an interest might arise through: 1. Owning, stock or holding debt or other proprietary interests in any third party dealing with Kentucky Country Day School; 2. Holding office, serving on the Board, participating in management, or being otherwise employed (or formerly employed) with any third party dealing with Kentucky Country Day School; 3. Receiving remuneration for services with respect to individual transactions involving Kentucky Country Day School; 4. Using Kentucky Country Day Schools, time, personnel, equipment, supplies, or good will for other than Kentucky Country Day School-approved activities, programs, and purposes; 5. Receiving personal gifts or loans from third parties dealing with, or competing with Kentucky Country Day School. Receipt of any gift is disapproved except gifts of a value less than $50, which could not be refused without discourtesy. No personal gift of money should ever be accepted. SECTION 5. INTERPRETATION OF THIS STATEMENT OF POLICY: The areas of conflicting interest listed in Section 3, and the relations in those areas which may give rise to conflict, as listed in Section 4, are not exhaustive. Conflicts might arise in other areas or through other relations. It is assumed that the Board of Trustees, employees and volunteers will recognize such areas and relation by analogy. The fact that one of the interests described in Section 4 exists does not necessarily mean that a conflict exists, or that the conflict, if it exists, is material enough to be of practical importance, or if material, that upon full disclosure of all relevant facts and circumstances it is necessarily adverse to the interests of Kentucky Country Day School. However, it is the policy of the board that the existence of any of the interests described in Section 4 shall be disclosed before any transaction is consummated. It shall be the continuing responsibility of the Board of Trustees, employees and volunteers to scrutinize their transactions and outside business interests and relationships for potential conflicts and to immediately make such disclosures. SECTION 6. DISCLOSURE POLICY AND PROCEDURE: Staff shall disclose any possible conflicts of interest to the Headmaster; the Board of Trustees shall disclose any possible conflicts of interests to the chair of the Board of Trustees (or if he or she is the one with the conflict then to the Board vice chair); the Headmaster, staff, and the Board of Trustees shall be alert to any possible conflicts of interests on the part of volunteers, and shall report them to the Headmaster and/or the chair of the Board of Trustees. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: 1. The conflicting interest is fully disclosed; 2. The person with the conflict of interest is excluded from the discussion and approval of such transaction; 3. A competitive bid or comparable valuation exists; and 4. The executive committee of the Board of Trustees (for Board of Trustees) or the Headmaster in consultation with the executive committee of the Board of Trustees (for employees and volunteers) has determined that the transaction is in the best interest of the organization and that the contemplated transaction may be authorized as just, fair, and reasonable to Kentucky Country Day School. The decision of the executive committee and the Headmaster in consultation with the executive committee on these matters will rest in their sole discretion, and their concern must be the welfare of Kentucky Country Day School and the advancement of its mission and vision. SECTION 7. CONFIDENTIALITY AND NON-DISCLOSURE: Confidential information is considered to be any information that is available to an employee only because of his/her status as a member of the Board, employee or volunteer and is not a matter of public knowledge. The protection of confidential information is vital to the interests and the success of Kentucky Country Day School. Such information shall not be shared with other employees who do not have a need-to-know status or other persons within or outside of the KCD community. Such information includes, but is not limited to employee salaries or other personal information, business and/or financial information of Kentucky Country Day School, information pertaining to donors and potential donors, and Board, Faculty and Administrative planning materials. Because of its seriousness, disclosure of confidential information will be subject to disciplinary action, up to and including termination of employment or membership on the Board. TO BE COMPLETED BY TRUSTEES AND EMPLOYEES I, ____________________________________, affirm that: 1. I have read and understand the Kentucky Country Day School Conflict of Interest Policy. 2. At the present time, I am not aware of any conflict of interest involving my position. 3. If at any time I discover that I am in a position of conflict of interest, I shall report the conflict in the manner outlined in the policy. 4. In any situation involving a conflict of interest, I shall abstain from participating in the discussion and vote on the decision in order to avoid even the appearance of conflict of interest or special interest. 5. I understand that I may obtain confidential information as a result of my relationship to the school. I agree not to disclose such confidential information. ______________________________ __________________________ Signature Date Form 990, Part VI, Section B, line 15 A SPECIAL COMPENSATION COMMITTEE, CONSISTING OF CURRENT BOARD MEMBERS, REVIEWS COMPARABLE DATA AND INDEPENDENT FINDINGS BEFORE ESTABLISHING THE COMPENSATION OF THE HEAD OF SCHOOL. KENTUCKY COUNTRY DAY SCHOOL HEAD OF SCHOOL EVALUATION AND COMPENSATION POLICIES AND PROCESS I. STATEMENT OF PHILOSOPHY A. Compensation. It is the objective of Kentucky Country Day School to attract individuals who have demonstrated uncommon levels of achievement in private education to serve in administrative and faculty roles for the School. In order to attract and retain accomplished professionals of outstanding stature, the School has established benchmarks for the base salary of the Head to be in the range of the 50th to the 75th percentile for all NAIS member schools in the Midwest region with comparable enrollment. Competitive benefits and perquisites will be provided as agreed in an employment agreement or other document(s) approved by the Board. It is the belief of the School that such a range is consistent with its desire to attract and retain individuals that are well above average in capability and levels of accomplishment. B. Evaluation. Kentucky Country Day School believes that it is both appropriate and necessary to conduct a rigorous, comprehensive, fact-based review of the Heads performance on an annual basis, taking into account the perspective and assessment of a wide range of constituencies. II. EXPECTATIONS FOR THE HEAD OF SCHOOL A. General. Kentucky Country Day School expects the Head to embrace its philosophy of education as embodied by the Schools mission statement; manage the administrative parts of the School well to insure faculty, students and the learning process are appropriately supported; and focus on the achievement of the Schools goals as more fully outlined in its strategic plan. B. Specific. Kentucky Country Day School expects the Head to (i) have a clear and compelling vision for the future, (ii) pursue educational leadership, (iii) exhibit maturity in the management of personnel, (iv) manage public and/or community relations effectively, (v) provide prudent financial management, (vi) counsel faculty and students when necessary, and (vii) take a strong leadership role in support of the Schools various fund raising activities, among others. III. OBJECTIVE SETTING A. Origination. The Head will draft and submit a list of not less than five proposed objectives for the coming year to the Executive Committee in August of each year along with an assigned weighting for each. B. Approval. The Executive Committee will review and modify, if appropriate, the annual objectives for the Head, after which it will submit the objectives to the Board of Trustees for its review and approval in September of each year. IV. COMPENSATION AND BENEFIT STRUCTURE A. Base Salary. The base salary will reflect the Schools commitment to excellence and philosophy regarding the recruitment and retention of individuals who have demonstrated the unique capabilities required to govern the School effectively. As a result, the base salary will be benchmarked and adjusted by calculating the average of two indices: (a) the median compensation for Heads as reported by all NAIS member schools in the Midwest region with comparable enrollment and (b) the median compensation for Heads as reported by JRPO (cost of living indexed, housing or housing stipend provided), to insure that the base salary remains in the range between the 50th and 75th percentile for NAIS member schools in the Midwest region with comparable enrollment. B. Annual Incentive Bonus. The School will provide the Head with the opportunity to earn an annual incentive bonus of up to an additional ten percent (10%) of base salary based upon the successful achievement of key objectives, one of which must be the annual financial plan. Each objective, other than the financial plan, will be assigned a percentage value at the beginning of each school year that when aggregated with all objective, is equal to one hundred percent of the bonus potential for the year. The Heads performance to objectives will, in conjunction with the results of the annual review process, determine the amount of incentive bonus to be earned by the Head. In the event the key metrics of the annual financial plan are not achieved in any given year, the incentive bonus will not be deemed to have been earned for that year. C. Benefits. The School will offer the Head a comprehensive plan of benefits that is consistent with the Schools compensation philosophy. More specifically, the School will offer the Head the following benefits, among others: (i) an automobile allowance, (ii) four weeks of vacation per year, (iii) tuition remission of up to 50% for each child enrolled in the School, (iv) a contribution to the TIAA retirement plan equal to 7.5% of the base salary, subject to the allowable limit for highly compensated employees, (v) use of the Schools home, (vi) a supplemental policy of life insurance, (vii) the Schools standard policy of medical coverage, (viii) long-term disability insurance, (ix) reimbursement for professional development expenses and (x) membership in professional organizations. IV. REVIEW PROCESS A. Frequency. The performance of the Head of School will be reviewed on an annual basis in August of each year. B. Criteria. The Head will be reviewed in terms of his or her leadership and the performance of the institution. The evaluation criteria will be directly linked to the objectives outlined in the Schools strategic plan, its mission statement and a series of specific goals that will be established in September of each year by the Board of Trustees for the then-current school year. C. Participants. The entire Board of Trustees will participate in the annual evaluation of the Head, along with various members of the School administration and faculty. The process will be conducted online (using NAIS/Board Source Online Assessment Tool or an equivalent Web-based instrument) with the resulting data stored in a secure database. D. Responsibility. The Executive Committee will be responsible for the administration of the formal evaluation of the Head, which will be conducted jointly by the Chair and the Vice Chair (or Treasurer, if No Vice Chair). E. Content. The Executive Committee will provide the Head with a summary of the feedback generated from the participants survey, an assessment of the Heads performance relative to each of the specific evaluation criteria, and comments regarding any issues or areas of development that may be appropriate for purposes of improving the effectiveness of the Head. F. Results of the Review. The results of the annual evaluation, including a summary of any issues discussed during the meeting with the Head, will be documented in writing by the Executive Committee, signed by the Chair and Vice Chair (or Treasurer, if no Vice Chair), and provided to the Head for any final comment and signature. Once signed, copies will be retained by both the Executive Committee and the Head. G. Approval of the Board of Trustees. The Chair and the Vice Chair (or Treasurer, if no Chair) will be responsible for summarizing and reporting the results of the annual review process to the Board of Trustees during an executive session of the Board. The review will include the feedback from the participants surveys, performance to the evaluation criteria and any issues that were discussed during the meeting wit the Head. The Chair will provide the Board with a comparative review of the Heads compensation package, using appropriate independent survey data along with the Executive Committees recommendation regarding any adjustment to the package for the coming year. The Board of Trustees will hold a vote to approve the compensation package of the Head as recommended by the Executive Committee. Any available information used for purposes of evaluating the Head will be made available upon review by a Trustee upon request, but in no event will any material be distributed to such Trustee or Trustees. H. Record Keeping. The Secretary of the Board of Trustees will be responsible for retaining and maintaining all records with regard to the evaluation of the Head. Form 990, Part VI, Section C, line 19 KENTUCKY COUNTRY DAY SCHOOL DOES NOT MAKE ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS OPEN TO PUBLIC INSPECTION AS PART OF FORM 990, SCHEDULE O. OVERSIGHT OF THE AUDIT BY THE BOARD'S AUDIT COMMITTEE HAS NOT CHANGED FROM THE PRIOR YEAR. THIS COMMITTEE RECOMMENDS THE APPOINTMENT OF THE OUTSIDE AUDITORS TO THE ENTIRE BOARD OF TRUSTEES FOR APPROVAL. THIS COMMITTEE MEETS WITH THE OUTSIDE AUDITORS PRIOR TO THE BEGINNING OF THE AUDIT TO DISCUSS SCOPE AND OBJECTIVES OF THE AUDIT. THIS COMMITTEE IS ALSO AVAILABLE DIRECTLY TO THE OUTSIDE AUDITORS AS THE AUDIT PROGRESSES. UPON COMPLETION OF THE AUDIT, THE COMMITTEE MEETS AGAIN WITH THE OUTSIDE AUDITORS TO REVIEW RESULTS. FOR A PORTION OF ALL MEETINGS DURING THE PROCESS THE COMMITTEE MEETS WITH THE OUTSIDE AUDITORS WITHOUT THE PRESENCE OF MANAGEMENT OF THE SCHOOL. THE AUDIT REPORT IS THEN PRESENTED BY THE FINANCE AND AUDIT COMMITTEE CHAIR TO THE ENTIRE BOARD.