Belmont Hill School

June 5, 2015

Table of Contents   

 

I. Minutes from May 5, 2015 Honorary Trustee Meeting   

II. Focus of Ad Hoc Committee                         

III. 2014‐2015 Belmont Hill School Board Class List         Current Make up of the Board             Board Attendance                 Standing Trustee Committees              

IV. Dick Chait Conversation Notes from October 2014         ’06‐’07 Ad Hoc Governance Committee Recommendations        

V. Peer School Information Updated, June 2015          

VI. NEASC Information on Governance              

VII. Belmont Hill School Bylaws               

 

Meeting Minutes Ad Hoc Committee for Honorary Trustees 

Tuesday, May 5 – 5:00pm – 8:00pm Alumni House – 19 Marsh Street 

Attending Jamie Higgins, moderator, Bill Achtmeyer '73, Jon Biotti ’87 (via phone), Ron Druker '62, Ruthanne Fuller, Carl Martignetti '77, Marlyn McGrath, Rick Melvoin, John Pike '49  Summary  Recommendation to pursue an Honorary Trustee category with the following parameters: 

‐ A non‐voting category ‐ Invited to all meetings ‐ at the same board table ‐ Eligible to serve on standing committees ‐ Size of group, both initial and over time, to be discussed at the next meeting 

 Decision that additional governance issues (e.g., size of board, term limits, committee structure & membership) did not need to be changed as both governance and philanthropy are working effectively  Selection Committee  

Standing members: BOT Chair Former BOT Chair(s) Head of School ex officio President of the Corporation  The Head of School and current Board chair may choose to add members to the selection committee, possibly including: Former President(s) of the Corporation Current or Former Chair(s) of COT Current or Former Chair(s) of Development Committee Current or former Director(s) of Development 

 Committee would then make recommendations to the Executive Committee and/or the CoT   Action Steps  

‐ Look at bylaws to see if they need to be changed to allow a new category of trusteeship ‐ Calls to peer schools who have Honorary Trustees – explore details, criteria, stewardship ‐ Create list of potential candidates to discuss 

o   project out:  10 – 15 years ‐ Circulate meeting minutes to the committee  ‐ Put together a full description in writing of the purpose of the new class of trustees, the 

roles and responsibilities, the stewardship required, what it might look like if quite small/exclusive or larger/less exclusive, the selection process, the sequencing of new 

members onto this group, naming options, the schedule for discussion/approvals of the concept 

‐ Next meeting Date TBD Board Updates: 

‐ Brief update at May 18th BOT meeting & discuss at June 17th Executive Cte meeting, then a full report at September 19 BOT meeting 

‐ NOTE: This bypasses the CoT entirely; Consider having a CoT meeting prior to the Sept. 19th BOT meeting? 

   Discussion Notes:  Benefits of Having Honorary Trustees 

‐ Feels like the right time to be exploring this category at Belmont Hill ‐ This is about having an “honest” relationship with 3 obvious candidates and setting them up for 

appropriate long‐term engagement ‐‐ and using this category for the benefit of the School in the future 

‐ From  the 2012 trustee feedback interviews:   All 3 individuals are not comfortable  with not attending meetings ‐‐ all 3 asked if they should come off the board – however they all seemed happy to live with their dissonance 

‐ Take burden and guilt away from long time, essential trustees, who are no longer willing or able to attend meetings regularly 

‐ Honorary Trustees can be stewarded in effective ways, such as lunches or dinners with the Board Chair and Head of School 

‐ Category allows more new trustees to join the Board ‐ There are transformational development benefits – possible legacy gifts offer one example ‐‐  

however honorary trustees would benefit the School in other ways as well  Challenges of Selection  

‐ Inclusive vs. exclusive ‐ There must be some exclusivity ‐ Perception: Who & how members are invited initially matters the most ‐ Discussed diversity of the category ‐ Consider broadening from the 3 obvious current trustees ‐  All rotating off Board would not be eligible for the status ‐‐ how might this play out in the 

future? ‐ “hurt feelings” is a side effect  that is important to note  ‐ this can be managed and is important 

to manage ‐ An opaque set of criteria for selection can actually help to not offend those not chosen ‐ Possible criteria: length of service on the BoT, depth of involvement, financial contributions, 

name recognition in the BHS community and/or Boston community, age (?) ‐ Perhaps a category only available for former or current trustees – This should be an ongoing 

discussion, as there are some benefits to broadening. ‐ Perhaps this initiative begins with only the 3 individuals everyone feels comfortable with – 

maybe not at the same time.  Could invite only one to begin with ‐‐‐ as the 3 being  discussed are so obvious and no one would argue 

    

Challenges of Board Meeting Attendance  ‐ Median attendance around 50% ‐ maybe that works for this institution ‐ Finding the right agenda to engage the Board is a challenge ‐‐because of the how well the School 

is run by the Head and the excellent Committee level work.  ‐ What is the right mix of reports from committees, interesting information about secondary 

education and issues at BHS, and decision making? ‐ Need to be careful not to base any decisions strictly on BOT meeting attendance% – some who 

do not attend regularly contribute greatly in other ways ‐ Attendance at times is low due to the strength of our trusteeship (the schedules that go along 

with being leaders in Boston) ‐‐  and sometimes geography ‐ Quoting Dick Chait discussion – some may view non‐attendance from 3 important trustees as an 

invitation for others to do the same. Implementing the category of Honorary Trustee might shift the culture toward greater attendance expectations  

 Duties of Honorary Trustees 

‐ Act as ambassador for the School ‐ Provide advice and counsel to the Head of School ‐ Contribute and support the School philanthropically ‐ Invited to all meetings (non‐voting) and possibly serve on board committees�

April 2015  

Focus of Ad Hoc Committee on Honorary Trustees 

Honorary Trustee Committee List Jamie Higgins, moderator Bill Achtmeyer '73 Jon Biotti ’87 Ron Druker '62 Ruthanne Fuller Mike Gordon Carl Martignetti '77 Marlyn McGrath Rick Melvoin John Pike '49 

‐ Meeting schedule for Ad Hoc Committee on Honorary Trustees

Two meetings; approximately May and October; first one over dinner at the Alumni House; 5:00 – 8:00 pm

‐ Purpose of the group

o Primary focus: Decide whether to recommend a new class of trustees …. Name TBD (Honorary? Life? Emeritus? Councilors?)

What are the goals?

Look at current Board from governance, fund raising and legal liability perspectives: Why should we consider a new class of trustees? How to sustain continued engagement and continued influence for current Trustees who no longer attend meetings regularly? How to renew continually the Board while having no term limits?

Qualifications for these trustees if we move forward

Extraordinary service (e.g., length of service, depth of involvement, financial contribution, former trustee)

Roles and Responsibilities

No term limits?

How exclusive is the group?

Stewardship from BHS for these trustees: briefings?

Potential people for this class of trustees

Potential harm from not asking people 

BOT '14 - '15 Class ListClass Elected Served Profession GenderAlumnus CP P of A Trustee Committees

Class of 2015Achtmeyer, Bill 1998 17 Consulting M 1973 ExecBright, David 2010 5 Law M 1983Coppedge, Copey 1990 25 Investment M '91,'94,'17 Exec, Dev (Co-Chair), FinDrucker, Jeff 2005 10 Real Estate M 1990 '20 Exec, Facil (Chair), Master PlanFuller, Ruthanne 2005 10 Politics F '06,'06, '09 Exec, Dev, COT (Chair)Jordan, Jerry 2000 15 Investment M 1985 '18 Fin Aid Pol (Chair)Ryan, Tony 2010 5 Investment M '17,'19 '14 Exec, Dev, Inv, Fin (Chair & Treasurer)Class of 2016Chandler, Mark 2006 9 Technology M 1974Fenwick, Sandi 2006 9 Health F '07Hurd, Jason 2006 9 Investment M 1990 Audit (Chair) COTKraft, Jonathan 1995 20 Business M 1982 '15 Exec, DevWolpow, Marc 2011 4 Investment M '16 FinClass of 2017Aberly, Naomi 2012 3 Volunteer F '16 DecAwad, Dewey 2012 3 Investment M '16 Inv (Chair), DevByrnes, Bill 1966 49 Investment M 1940 '65 ExecBiotti, Jon 2007 8 Investment M 1987 Exec, Dev, COT, Fin, Alum AwdConnors III, John 2007 8 Advertising M 1985 Fin Aid Pol, COTGieselman, Scott 2007 8 Investment M 1981 Dev, FinKarp, Steve 1987 28 Real Estate M 1957 '93 Master PlanStettler, Rachel 2012 3 Education F Fin Aid PolClass of 2018Connors, Jack 1993 22 Advertising M '85,'97 Exec, DevDruker, Ron 1993 22 Real Estate M 1962 Master PlanFields, Warren 2002 13 Real Estate M 1981 '18 FacilitiesMannion, Marty 2013 2 Investment M '18 Dev, Fin Aid Pol, FinWilliamson, Sarah 2013 2 Investment F '17 Inv, Fin Aid PolClass of 2019Chicos, Fred 2008 7 Health M 1972Dawson, Carl 2014 1 Business M 1972 '15 Fin Aid PolGordon, Michael 2009 6 Investment M '15 Exec, InvHeard, Danielle 2004 11 Education F Fin Aid Pol, COTGrady, John 1984 31 Finance M 1966 GP '17 '87 COTMartignetti, Carl 1992 23 Business M 1977 Exec, Dev (Co-Chair), COT, Alum AwdMcGrath, Marlyn 1994 21 Education F Fin Aid Pol, COTPrasad, Mitali 2014 1 Investment F '18, '18 Fin, AuditE� OFFICIODurbin, Julie 2014 1 Volunteer F '15 COTLyne, Emmett 2011 4 Law M 1977 Dev, Alum Awd (Chair), COTMelvoin, Rick 1993 22 Education M ALL

Makeup of 2014‐2015Belmont Hill School Board

Full Board Members 33 RaceEx officio Board Members 3 Caucasian 30Total Board Members 36 Non‐Caucasian 6

Alumni Board Members 19 Years of ServiceCurrent Parents 14 1 ‐ 5 years 12Parents of Alumni 8 6 ‐ 10 years 10Grandparent 1 11 ‐ 15 years 3

16 ‐ 20 years 2Alumni by Decade 21 ‐ 25 years 61990s  2 26 ‐ 31 years 21980s  7 More (49 years) 11970s  61960s  2 Ages of Board Members : to update1950s  1 Members in their 90s 11940s  1 Members in their 70s 3

Members in their 60s 6Gender Members in their 50s 13Male 27 Members in their 40s 13Female 9

Breakdown by ProfessionBanking, Investment, Finance 14Business 3Consulting 1Advertising, Media, Public Relations, Politics 3Law 2Education 4Real Estate 4Science/Technology/Engineering/Math 1Health/Medicine 2Volunteer 2

Makeup of 2014‐2015Belmont Hill School Board

Full Board Members 33 RaceEx officio Board Members 3 Caucasian 30Total Board Members 36 Non‐Caucasian 6

Alumni Board Members 19 Years of ServiceCurrent Parents 14 1 ‐ 5 years 12Parents of Alumni 8 6 ‐ 10 years 10Grandparent 1 11 ‐ 15 years 3

16 ‐ 20 years 2Alumni by Decade 21 ‐ 25 years 61990s  2 26 ‐ 31 years 21980s  7 More (49 years) 11970s  61960s  2 Ages of Board Members : to update1950s  1 Members in their 90s 11940s  1 Members in their 70s 3

Members in their 60s 6Gender Members in their 50s 13Male 27 Members in their 40s 13Female 9

Breakdown by ProfessionBanking, Investment, Finance 14Business 3Consulting 1Advertising, Media, Public Relations, Politics 3Law 2Education 4Real Estate 4Science/Technology/Engineering/Math 1Health/Medicine 2Volunteer 2

Board Attendance5.17.06 - 11.10.14

Board Member Elected Trustee Committee Involvement Total meetings attended '06-'14Aberly, Naomi 2012 Dev 10 out of 12 (1 by phone)Achtmeyer, Bill 1998 Exec 25 out of 41 (7 by phone)Awad, Dewey 2012 Inv (Chair), Dev 12 out of 12 (2 by phone)Biotti, Jon 2007 Exec, Dev, Fin, Alum Awd, COT 33 out of 35 (1 by phone)Bright, David 2010 18 out of 21 (6 by phone)Byrnes, Bill 1966 Exec 0 out of 41Chandler, Mark 2006 20 out of 41 (1 by phone)Chicos, Fred 2008 16 out of 29Connors, Jack 1993 Exec, Dev 2 out of 41Connors, John 2007 Fin Aid Pol, COT 20 out of 35Coppedge, Copey 1990 Exec, Dev (Co-Chair), Fin 20 out of 41Dawson, Carl 2014 Fin Aid Pol 3 out of 3Drucker, Jeff 2005 Exec, Facil (Chair), Master Plan 40 out of 41Druker, Ron 1993 Master Plan 21 out of 41 (1 by phone)Fenwick, Sandi 2006 29 out of 41Fields, Warren 2002 Facil 16 out of 41Fuller, Ruthanne 2005 Exec, Dev, COT(Chair) 38 out of 41Gieselman, Scott 2007 Dev, Fin 23 out of 35 (1 by phone)Gordon, Mike 2009 Exec, Inv 17 out of 24 (2 by phone)Grady, John 1984 COT 23 out of 41 (5 by phone)Heard, Danielle 2004 Fin Aid Pol, COT 34 out of 41 (1 by phone)Hurd, Jason 2006 Audit (Chair), COT 19 out of 41 (1 by phone)Jordan, Jerry 2000 Fin Aid Pol (Chair) 19 out of 41 (1 by phone)Karp, Steve 1987 Master Plan 2 out of 41Kraft, Jonathan 1995 Exec, Dev 11 out of 41Lyne, Emmett 2011 Dev, Alum Awd (Chair), COT 14 our of 16Mannion, Marty 2013 Dev, Fin Aid Pol, Fin 5 out of 7 (1 by phone)

Martignetti, Carl 1992Exec, Dev(Co-Chair), COT, Alum Awd 29 out of 41

McGrath, Marlyn 1994 Fin Aid Pol, COT 26 out of 41Melvoin, Rick 1993 All Committees 41 out of 41Prasad, Mitali 2014 Fin, Audit 3 out of 3

Ryan, Tony 2010Exec, Dev, Inv, Fin(Chair and Treasurer) 21 out of 21

Stettler, Rachel 2012 Financial Aid Cte 6 out of 12Williamson, Sarah 2013 Investement Cte, Financial Aid Cte 7 out of 7 (2 by phone)Wolpow, Marc 2011 Finance Cte 12 out of 17 (1 by phone)

 

*non-current trustee

BELMONT HILL SCHOOL STANDING TRUSTEE COMMITTEES

UPDATED OCTOBER 2014 EXECUTIVE COMMITTEE

Jon Biotti, ’87 President William F. Achtmeyer ’73, Vice President

William L. Byrnes ’40 John M. Connors, Jr. Roy F. Coppedge III

Jeff Drucker ‘90 Ruthanne Fuller Michael Gordon

Jonathan A. Kraft ‘82 Carl J. Martignetti ‘77

Anthony W. Ryan Jay Bounty (ex off)

Richard I. Melvoin (ex off) Beverly Coughlin (ex off)

DEVELOPMENT COMMITTEE Roy F. Coppedge III, Co-Chair

Carl J. Martignetti ’77, Co-Chair Naomi D. Aberly Dewey J. Awad Jon M. Biotti ‘87

John M. Connors, Jr. Ruthanne Fuller

Scott A. Gieselman ‘81 Jonathan A. Kraft ’82

Martin J. Mannion Anthony W. Ryan

Emmett E. Lyne ’77 (ex off) Richard I. Melvoin (ex off)

Beverly S. Coughlin (ex off)

FACILITIES COMMITTEE Jeffrey D. Drucker ’90, Chair

John Carroll ‘89* Warren Cross ‘83*

Warren Fields ’81 Anthony Green ’74

Steven Kaplan ’83* Peter P. Martini ’74*

Richard I. Melvoin (ex off) Casey Young (ex off)

Jay Bounty (ex off)

FINANCE COMMITTEE Jon Biotti ’87

Roy F. Coppedge III Scott A. Gieselman ’81

Martin J. Mannion Mitali Prasad

Tony Ryan, Chair and Treasurer Marc Wolpow

Richard I. Melvoin (ex off) Jay Bounty (ex off)

AUDIT COMMITTEE

Jason Hurd ’90, Chair Bruce Amsbary ’70*

Robert Crowley ’90* Hugh Jones* Mitali Prasad

Richard I. Melvoin (ex off) Jay Bounty (ex off)

FINANCIAL AID POLICY COMMITTEE

Gerald R. Jordan ’85, Chair John M. Connors III ’85

Carl Dawson ‘72 Danielle Heard

Martin J. Mannion Marlyn McGrath

Rachel Stettler Sarah Williamson

Steve Carr ’93 (ex off) C.J. Hacker (ex off)

Richard I. Melvoin (ex off)

INVESTMENT COMMITTEE Dewey J. Awad (Chair)

Michael S. Gordon Amos Hostetter, Jr.*

Anthony W. Ryan Sarah Williamson

Richard I. Melvoin (ex off) Jay Bounty (ex off)

COMMITTEE on TRUSTEES Ruthanne Fuller, Chair

Jon Biotti ’87 John Connors ‘85 Marsha Feinberg*

John Grady ‘66 Danielle Heard

Jason Hurd ’90 Emmett Lyne ’77

Carl J. Martignetti ’77 Taggart M. Romney ’88*

Marlyn McGrath Richard I. Melvoin (ex off) Beverly Coughlin (ex off)

Julie Durbin (ex off) ALUMNI AWARD COMMITTEE

Emmett E. Lyne, Chair Jon M. Biotti ‘87

William G. Cornish ’68* Joseph P. Curtin ’80*

Jay Fritz ’91 (ex off) Richard J. Ganong, Jr. ’82*

Carl J. Martignetti ’77 John A. Pike ’49*

Beverly S. Coughlin (ex off) Richard I. Melvoin (ex off)

MASTER PLANNING COMMITTEE Stephen R. Karp, ’57 Chair

Jeffrey D. Drucker ’90 Ronald M. Druker ’62

Richard I. Melvoin (ex off) Jay Bounty (ex off)

 

 

 

Dick Chait Breakfast Conversation Notes With Carl Martignetti ’77, Ruthanne Fuller, and Rick Melvoin

Friday, 10 October 2014

These notes come in no particular order, but I hope they are helpful, at least in helping us recall and consider some key ideas: DC (Dick Chait) preference for “life” versus “honorary” versus “emeritus” as a

trustee title – but whatever category or categories one has, it/they must have some exclusivity

note not to use “emeritus” – the meaning is too generic – means only “former,” at least technically)

as an alternative: a “Head’s Advisory Council”? a small group that meets 1-2 times per year, provides a high level “inside” view, seeks advice on substantive matters

keys for any group are “continuing engagement and continuing influence” for smaller groups: special briefings? A special website? establishing a new category takes the school in the direction of term limits, but

even there one might choose to grandfather sitting trustees term limits at this stage would be “devastating” the Board has been on a great run but is now “close to a cliff”… DC: is there a “next generation” of leadership within the current Board? does that

next generation need opportunities? an intriguing perspective: in these matters, DC looks at the years of a head’s

experience versus the length of service of trustees (good for the head to have just a bit more than any trustee?)

DC: dual key purposes for any Board: governance and philanthropy. It sounds like BHS has been more a “philanthropy” Board in recent years [accurate?]

Attendance at Board meetings: o “anemic” o DC: “of course – there are no consequences for not attending (DC:

“truancy has no consequence”)(versus some places that take attendance – and publish it – including Williams College…)

o Why low attendance? (DC) Executive Committee is powerful; it is clear that not everyone is expected to attend; busy people do cost/benefit analyses to determine whether they will come; a perspective (DC)(valid?) that if you give enough, you don’t have to come

o An intriguing DC concern: if trustees never attend meetings, could they be liable if something bad were to occur? “How could you not know that XX was going on? Is that not part of your responsibility as a trustee?”

How to improve attendance? o Need meetings of consequence o Use different models: case studies, small groups, engagement o Trustees need to believe that they add value o Need to use trustees in the meeting – have individuals lead or be prepared

to comment

Attendance issues, cont.: a DC warning. DC noted that chronic non-attendance could be/become a liability issue for trustees. As an example: “you mean you were on the Board for ___ years and never attended meetings? What was/is your responsibility? How could the Board operate responsibly in this way?

Board size? DC: what does the school want to optimize? If governance, a significantly smaller Board – not more than 20-24. If philanthropy, then can get even bigger than 36. But “you can’t do it all”…

Again DC’s challenge: “what are we governing for?” o If for pure philanthropy, people want direct access to the top and want

influence (DC) o legacy gifts need “the T word”…or perhaps an exclusive “Heads

Council”? o DC: “trusteeship is not a spectator sport”

DC: the Board has three roles (often cited now by Drew Faust): o Insight o Foresight o Oversight

2006/2007 Governance Study (never formally adopted by BOT) 

2006/2007 Governance Study (never formally adopted by BOT) 

 

June 2015  Board Governance Information on Honorary Trustees‐ 2014‐2015  Buckingham, Browne and Nichols (Cambridge, MA) 30 Board members Includes 1 Trustee Emeritus and 2 Honorary Trustees (The Emeritus member is a retired BOT Chair ‐ alum class of ’71, The 2 Honorary Trustees are also retired BOT Chairs ‐ one is not an alum, and the other is class of ’42) 

They are not invited to BOT meetings and do not vote  These members were elected or placed years ago, it is no longer the practice to add these 

positions  There is no maximum number of Emeriti/Honorary Trustees  They are stewarded by being invited to former BOT events  

 Choate Rosemary Hall (Wallingford, CT) 22 Board members BOT Term Limits – 2 year term with possibility to renew for a 4 year term, then another 4 year term – for a total of 10 years maximum In addition to that 22, there are 8 Life Trustees  

They are invited to meetings but do not vote  These members are elected by the BOT  There is no maximum number of Life Trustees  They are not stewarded in any specific way. Three of eight are very engaged. The other three 

see their Life Trustee status as more of an honor.  Language in the Bylaws: 

"In order to honor those persons whose special devotion to the Corporation merits special distinction, and in order to continue to have the counsel of such person in Board deliberations, the Board may elect Life Trustees, who will be encouraged to attend and participate in Board meetings, but will have no vote."  

 Deerfield Academy (Deerfield, MA) 29 Board members (usually 30) BOT Term Limits – 5 year term with possibility to renew for a second term.  After second term, a 2 year hiatus is required before re‐election. Includes 2 Lifetime members (Both Lifetime members served many years (one was a BOT Chair, and the other had never missed a meeting) 

They attend meetings and vote  These members are proposed by the Nominating and Governance Committee  There is no maximum number of Lifetime Trustees  These members are stewarded in the same manner as any other trustee  Language in the Bylaws: 

"A Lifetime Trustee is elected to the Board through the nominating process, serves for life and enjoys all rights and privileges of being a Trustee.  A Lifetime Trustee or Trustees are included in the maximum number of Trustees allowed pursuant to article 9.  This designation of Trustee is reserved for those individuals who desire to continue their stewardship of the Academy and have demonstrated leadership, guidance and support of the Academy’s mission through at least four previous terms of service as a Trustee."  

  

Harvard Westlake (Studio City, CA) 35 Board members BOT Term Limits – 3 years with the possibility to serve as many terms as they wish All retired board members are considered Trustee Emeriti  

They do not come to meetings or vote  All retired BOT members become Trustee Emeriti  There is no maximum number of Trustees Emeriti 

 The Latin School (Chicago, IL) 30 Board members (6 are considered Charter Trustees who only serve one 3 year term) BOT Term Limits – 3 years.  They may serve 3 terms.  After one year hiatus following 9 years of service, they are considered for invitation by the COT to become Senior Trustees.  In addition to the 30 BOT members, there are 15 Senior Trustees  

They are welcome to come to meetings, but do not vote (5 typically attend)  They are nominated by BOT members, approved by the COT  There is no maximum number of Senior Trustees  They are invited to an annual Senior Trustee dinner after first BOT meeting. Dinner is hosted by 

one of the Senior Trustees.  Please see following pages for language in the Bylaws 

 Middlesex Academy (Concord, MA) 34 Board members  BOT Term limits of 3, 4, 5 and 6 years Includes 7 Emeriti Trustees 

They are invited to meetings but do not vote  They are all former Board Presidents  There is no maximum number of Emeriti Trustees  They receive minutes and electronic communications and Board meeting materials.  Once each 

year, at a dinner at the final Board meeting of the year, they are invited to come to the dinner.  They are also invited to any special social events in which the Board is involved. 

 Milton (Milton, MA) 25 Board members (currently – sometimes up to 30)  BOT Term Limits – 4 years.  They may serve 2 terms for a total of 8 years.  If they wish to come back on the Board, they are required to take a break (time is unspecified) Includes 4 Trustee Emeriti  

They are invited to meetings, and are allowed to vote, but most do not  They are elected by BOT vote  There is no maximum number of Emeriti Trustees  They receive all the same information and invitations as do full trustees  Please see following pages for language in the Bylaws 

  Northfield Mount Hermon School (Mount Herman, MA) 28 Board members  BOT Term Limits – 5 years with the option to renew.  After a second term is served, there is a one year hiatus unless the board votes it unnecessary. In addition to that 28, there are 2 Emeriti Trustees  

They do not come to meetings or vote  Current  Emeriti (2) were elected or placed a while ago ‐ it is no longer the practice to add these 

positions  There is no maximum number of Emeriti Trustees 

Language in the Bylaws: "The board has conferred the title of Trustee Emeritus on certain persons each of whom shall remain a Trustee Emeritus until death, removal or resignation with all rights, privileges and obligation of a board member, except Trustees Emeritus shall not have the right to vote nor be counted in any quorum of the board." 

 Roxbury Latin (West Roxbury, MA) 24 Board members BOT Term Limits ‐6 years  Includes 5 Life Trustees 

Life trustees can vote and attend meetings  Election as a Life Trustee required the votes of two‐thirds of the Board and the expectation 

(with certain qualifications) was that it was a lifetime position.   The Board decided in 2010 that the longstanding category of Life Trustee had outlived its 

usefulness and to phase it out over a ten‐year period. All the remaining current Life Trustees will go off the Board over the next five years.  

 St. Mark’s School (Southborough, MA) 30 Board Members  BOT Term Limits – 3 years with the option to renew after each 3 year term In addition to the 30 BOT members, there are 5 Honorary Trustees and 1 Trustee Emeriti 

They do not vote or come to meetings (but are invited to a former trustees Annual meeting in April) 

This is a discretionary honor that can be bestowed upon a retiring trustee by the board, at the recommendation of the COT 

There is no maximum number of honorary/Emeriti Trustees  St. Mark’s School (Dallas, TX) 53 Board Members In addition to the 53 BOT members, there are 8 Life Trustees 

They are not invited to BOT meetings, but can attend. They do not vote.  They are nominated through the COT, then voted on by the BOT  There is no maximum number of Life Trustees  They are invited to social functions  Please see following pages for language in the Bylaws 

   University School (Cleveland, OH) 95 Board Members BOT Term Limits – 3 years with the option to re‐up 2 more terms.  After a total of 3 terms, they are considered for invitation to become a Life Trustee Includes 50 Life Trustees 

They are invited to BOT meetings, but do not vote  They are voted on by trustees. There is a mandatory BOT retirement age of 70, trustees become 

life trustees then, or earlier if they come off the BOT before.  They are invited to BOT meetings and the corporation dinner and sent all the same information 

as BOT members.  Academy Hill (Springfield, MA) 13 Board members No Honorary, Emeriti or Life Trustees 

BOT Term Limits – 2 years with possibility to renew indefinitely  Groton School (Groton, MA) 27 Board members No Emeriti or Honorary Trustees BOT Term Limits – 4 years.  Typically board members serve 3 terms for a total of 12 years.  If they wish to come back on the Board, they are required to take one year off.  Noble and Greenough (Dedham, MA) 24 Board members No Honorary, Emeriti or Life Trustees BOT Term Limits – 3 years with the option to renew once, for a total of 6 years  Phillips Andover (Exeter, NH) 23 Board members No Honorary or Lifetime Trustees (all former charter members (those not ex‐officio) are considered Emeriti which is simply a title) BOT Term Limits – 6 years.  They may serve 2 terms  St. Paul’s (Concord, NH) 28 Board members No Honorary, Emeriti or Life Trustees BOT Term Limits – 3 years.  May be voted on for a second and third term with no break, for a total of 9 years.  Officers may serve a 10th year.  The Taft School (Watertown, CT) 36 Board Members Information on Honorary Trustees not available BOT Term Limits – 4 years  Winsor (Boston, MA) 31 Board members No Honorary, Emeriti or Life Trustees BOT Term Limits – 3 years.  They may serve 2 terms   BSO 36 Trustees 32 Life Trustees  MFA 36 Board members  50 Honorary Trustees 6 Chairs Emeriti 7 Presidents Emeriti (one deceased) 8 Appointed Trustees (one deceased)  MGH 18 Trustees 16 Honorary Trustees 

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Standards of Stewardship for Senior Trustees

Nominated in recognition of their longstanding commitment and exemplary contributions to the Latin School of Chicago, Senior Trustees offer valued perspective to Latin’s Board of Trustees. The primary role of a Senior Trustee is to advance the mission, vision, and strategic plan of The Latin School of Chicago through wise counsel to the Board and Head of School. Trustees of The Latin School of Chicago strive for the highest level of stewardship. As custodians of the integrity of the School, Trustees commit themselves to uphold The Latin School’s reputation as created by its founders, and as developed by those who have shaped the school in the past. Trustees accept an obligation both to preserve and to continue to build the institution, delivering the highest quality education experience to our students. An agreement to steward the Latin School of Chicago means Trustees commit their time, thought, energy and financial resources to support the viability and growth of the school. Specific standards of stewardship to which Latin School Trustees subscribe include: Participation in Board Meetings Senior Trustees are expected to attend the September meeting of the Board of Trustees as well as the Spring Retreat. They are not required to attend regular meetings of the Board. When attending meetings, Senior Trustees should come prepared, having read previous minutes and mailings. Trustees should engage in Board discussions without hesitation to raise pertinent questions. Involvement in Board Committees Trustees are encouraged, but not required, to sit on one of the following Board Committees: Academic Program, Student Life, Faculty, Staff and Administration, Development and Alumni Relations, Finance, Facilities, or Committee on Trustees. Most of the work of the Board is discussed first in these standing committees and will lead to recommendations on policy issues decided upon by the entire Board. It is expected that Trustees attend all meetings of committees to which they are assigned. If unable to attend a meeting, Trustees are expected to inform the Committee Chair in a timely manner. Financial Support Trustees are expected to set a leadership example in the area of financial development as effective fundraisers and contributors. Trustees are expected to contribute to both the Annual Fund and the annual special event. Trustees should also plan to participate in any ongoing capital campaign and recommend new prospects (corporate, foundation and individual prospects) to the school.

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Any Trustee whose personal financial situation makes a leadership gift a hardship shall not be disqualified from membership on the Board on that account alone. It is recognized that some Trustees bring financial and support in kind to the school through other means. Participation in Good Governance Trustees should help strengthen the Board’s governance by identifying and cultivating new Trustees, fostering board diversity, assisting in the orientation of new Trustees, serving as mentors, and completing Head and Board evaluations in a timely manner. Serving as School Ambassador Trustees should value, promote and protect the mission of the Latin School of Chicago. To serve as strong advocates for the school as well as broaden support for it, Trustees must be well informed about the school’s history and mission, current operations and concerns. Trustees should demonstrate sensitivity to the school’s various constituencies and their points of view, including those of faculty, administration, students, parents, and the broader community. Holding the School in Confidence Trustees must respect the confidentiality of deliberations made at the Board and Committee meetings. Trustees should contribute to a climate of mutual trust and support between the Head of School and Board. Contribution to the School’s Vision While mindful of the past, Trustees should contribute to building a vision of the school for the future. This means keeping abreast of trends in education and contributing to long range planning.

  

Milton Academy Emeritus Trustee protocol 

Draft May 2, 2015 

 At the March 2015 Trustees Committee meeting, emeritus trustee status was discussed.  It was suggested that Milton establish protocol around this topic; bylaws would not be changed.  Below is draft protocol for review by the committee and eventual proposal to the full board.  Trustee Emeritus status 

Recognizes distinctive and meritorious service 

Member leaves in good standing 

Lifetime appointment 

Invited to meetings 

Receives all trustee information 

May/may not serve on committees (except executive) 

Does not vote, though bylaws do not prevent from doing so   

Does not count toward quorum  When to appoint an emeritus trustee 

After the trustee has retired from the board and been thanked at retirement 

Best to wait at least one meeting before appointment to emeritus status 

Standard 2 (Governance): The school has an appropriate system of governance that assures that the school remains true to its mission and that it has the necessary resources to support its present and prospective operations.

Assessment of Standard Passing

(The students’ experience is supported.) Failing

(The students’ experience is compromised.)

P1. Meets Standard: may have minor plans/recommendations or issues for reflection.

F1. Fails Standard: aware and plans rem ediation.

P2. Meets Standard: does have significant plans/recommendations and issues for reflection.

F2. Fails Standard: aware, but plan of remediation is uncertain.

School’s Self-Assessment P1 Brief narrative description of the school’s position with regard to this standard (This summary may be copied and used in the Visiting Committee Report.) 2a. The governance of the school is clearly defined, understood by all constituents, and provides for continuity of mission; stability and ethical process in transitions of leadership; a comprehensive, multi-year planning process; assurance of adequate financial resources; institutional advancement/development; evaluation of and support of the professional growth of the Head of School; a model of inclusive behavior and integrity for the school community; establishing and monitoring needed school policies; self-evaluation of individuals and groups with governance responsibilities; and defined orientation and evaluation procedures. School meets indicator: Yes Belmont Hill is fortunate to have a healthy, high-functioning system of governance that is carried by an outstanding group of leaders and participants. From its beginning in 1923, the school has been governed by two bodies: a Board of Trustees, currently numbering 33, and a much larger Corporation (approximately 180 today) that meets annually to elect new trustees and provide oversight and support. The main governance work is undertaken by the Board, though members of the Corporation frequently serve on various Board committees, both standing and ad hoc. The Board meets five times a year, and work between meetings is handled by an Executive Committee, which meets another 5-7 times per year. To maintain transparency, minutes of Executive Committee meetings are shared with the entire Board. The school’s governance is marked by impressive continuity in participation. Members of the Corporation serve one-year terms, without limit, and most stay on for many years, giving the school a strong group of supporters and ambassadors. Members of the Board serve 5-year terms, without limit. Thus Board members have the time to understand and engage fully in Board activities over a period of time. While the majority of Board members serve two terms, a number have served well beyond that, providing important continuity in leadership and maintenance of culture, as well as a long-term view of Board work and mission. This structure also works so that the number of current parents on the Board is relatively low for a day school (currently 39%), ensuring that the Board focuses on appropriate longer-term issues rather than get caught up in more immediate (and often administrative) matters. Further, the Board has a healthy mix of current and past parents, alumni, educators, and friends of the

school, helping to maintain a range of perspectives. The Committee on Trustees strives to maintain a healthy mix of Board members, with diversity of professions, experience, age, gender, race and ethnicity all valued. The Board has also had the good fortune to have stable and steady leadership. In a prior era, two Board chairs served for over twenty years. More recently, Board chairs have served no fewer than five years apiece, and one recently left (after six years) only because he was asked to become Board President at his university. Choosing a Board chair has been a careful process. In the most recent transition, every member of the Board was interviewed and asked two questions: who would be a good next Board chair, and would you be willing to serve? This effort yielded not only a good result in terms of Board leadership but also a comprehensive and helpful review and evaluation of Board operations and performance. In thinking about the Board’s fiduciary and financial responsibilities, the school is in a healthy position. The Finance Committee annually plans out a budget for the following year and simultaneously analyzes longer-term impact of changes in key drivers such as tuition, financial aid, and faculty and staff salaries. With the help of the school’s CFO, the Finance Committee examines a great deal of key comparative data as well, looking at both local and national metrics. An iterative process allows the Executive Committee to engage in this work as well, before a Financial Plan goes to the full Board at its January meeting. Budget revisions then take place in the fall of the school year. Belmont Hill’s development effort has been outstanding over the last twenty years, due to remarkably strong and stable trustee leadership and an extraordinary long-term Director of Alumni and Development. In fact, the two Development Committee chairs, the Director of Alumni and Development, and the Head of School have all been in place for over twenty years. This has helped drive the school through two major campaigns (1996-2000 and 2006-10), one targeted building campaign (2012-14), and now an impending Faculty Initiative. Those campaigns have together raised over $130M. Over this longer span, the Annual Fund has gone from roughly $300,000 to almost $4 million. The Board has been at the forefront of these major efforts, and last year 100% of the Board again contributed to the Annual Fund. In addition, last year 100% of current parents contributed to the Fund, as did 54% of alumni – both records for the school – and this year 100% of the faculty have given as well. Ten years ago, the last NEASC Visiting Committee noted that the Board could do a better job of evaluating itself as well as the Head of School. Since then, the Board has been more systematic and effective in providing more comprehensive evaluation, all overseen by the Committee on Trustees. The updated Board evaluation process includes: an in-depth survey of the full Board every four years (though not on the same schedule and

year as the in-depth Head of School evaluation), and most recently done in 2013 a consistent set of questions asked each time, to provide for a better longitudinal perspective feedback solicited by the Chair of the Committee on Trustees by email on an annual basis from

Board members on their individual roles and contributions, and on the work of the Board Chair when appropriate, individual meetings of trustees in their fourth year to solicit feedback and

discuss possible recommitment for an additional term exit meetings with departing trustees

In response to the last NEASC evaluation, the Committee on Trustees also created a new Head of School’s evaluation process that is now more regular and comprehensive, as can be seen in the following summary.

I. In-Depth Process (every four years)

Summer: The President of the Board and Head of School meet to review the past year, paying particular attention to the goals established the prior fall. They also review the job description of the Head of School and update it if necessary. Fall: The President briefs the Board on the evaluation meeting and the Head of School’s response in Executive Session. The Head of School provides for the trustees in writing his/her goals for the year before the first Board meeting and his/her assessment of whether the goals from the previous year were achieved. At the Board meeting, trustees have an opportunity to comment. The Head of School will incorporate such feedback when appropriate. Spring: The Board of Trustees, the Senior Administrative team and other appropriate administrators and faculty members fill out a confidential, written survey developed by the Board President and the Chair of the Committee on Trustees about the Head of School. They are also offered an opportunity to talk in confidence with the President or the Chair of the Committee on Trustees. The Head of School writes a self-evaluation based on questions developed by the President and the Chair of the Committee on Trustees. Summer: The President and the Chair of the Committee on Trustees and, at the President’s discretion, other members of the Board (e.g., the Vice President), review the responses. They meet with the Head of School to review the findings and to discuss his strengths, weaknesses, opportunities for improvement and ways the Board can support his performance. They provide the Head of School with a written report. Fall: The cycle begins again. The President briefs the Board of Trustees on the findings and the Head of School’s response in Executive Session. Head of School provides the trustees in writing his goals for the year before the first Board meeting and his assessment of whether the goals from the previous year were achieved. At the Board meeting, trustees have an opportunity to comment. The Head of School will incorporate such feedback when appropriate. Note: A new Head of School would have an in-depth evaluation at the end of the second year. Approximately every four years thereafter, an in-depth evaluation of the Head of School will be conducted.

II. Regular Process (annual)

For approximately the next three years, a streamlined process is used unless a prior evaluation has led to serious concerns about the performance of the Head of School. Fall: The President briefs the Board on the evaluation meeting and the Head of School’s response in Executive Session. Head of School provides the trustees in writing his goals for the year before the first Board meeting and his assessment of whether the goals from the previous year were

achieved. At the Board meeting, trustees have an opportunity to comment. The Head of School will incorporate such feedback when appropriate. (This is the same as in the in-depth process.) Spring: The President asks all trustees if they have any input on the evaluation of the Head of School. Trustees are offered the opportunity to write to or talk with the President or the Chair of the Committee on Trustees. Summer: The Head of School drafts his goals for the year ahead and his assessment of whether the goals from the previous year were achieved. The President and the Chair of the Committee on Trustees and, at the President’s discretion, other members of the Board (e.g., the Vice President), meet with the Head to have a two-way discussion about his strengths, weaknesses, opportunities for improvement and ways the Board can support his performance. Fall: The President briefs the Board on the evaluation meeting and the Head of School’s response in Executive Session. The cycle also begins again with Head of School providing the trustees in writing his goals for the year before the first Board meeting and his assessment of whether the goals from the previous year were achieved. At the Board meeting, trustees have an opportunity to comment. The Head of School will incorporate such feedback when appropriate.

Note: A new Head of School in his/her first year needs and deserves more frequent and regular feedback than described in this annual process. The Board has continued its program of orientation for new trustees, highlighted by a lengthy session with the Head of School and Board chair to review Board policies and practices. In addition, orientation for new Corporators has been strengthened by a recently implemented orientation meeting on campus run by the Alumni President that helps new Corporators understand and fulfill their role. New materials were also written that define the position of a Belmont Hill School Corporator. In terms of Board review of school policies, the Board has long honored and respected its role in governance and has left day-to-day management of the school to the Head and his team. In fact, the Board does not have a standing “Education” or “Educational Policy” Committee. Recognizing that, the Head strives to keep the Board apprised of key issues and frequently brings in colleagues to present to the Board on such matters as school discipline, the school’s health team, and the role of academic technology. The Board has also been heavily involved in strategic planning along with members of the faculty. The most recent effort, in 2011-2012, focused on five areas that brought the Board and the faculty together: 21st century education, global education, community service and service learning, facilities, and financial sustainability. Five task forces were set up, co-led by trustees and faculty, that worked for over a year on their particular areas of responsibility. The resulting plans were drawn together and have provided a helpful planning document for recent work. In particular, the conclusions from the Facilities Task Force led the Board to move forward on planning and fundraising for a new academic facility, which was completed in November of 2014. The work in financial sustainability has led to careful planning on key metrics of budget planning, including tuition, financial aid and faculty and staff compensation. 2.b. The governing body demonstrates and clearly communicates its commitment to the mission.

School meets indicator: Yes As discussed above, the Board supports the school mission in many ways. First is the striking engagement of the members of the Board: almost all trustees serve on one or more committees, and the committees have excellent participation, as much of the key work of the Board gets done there. The standing committees and their frequency of meeting are as follows: Board of Trustee Standing Committees  Meetings  Per Year Executive Committee  6 Development Committee  2 Facilities Committee  3 Finance Committee  4 Audit Committee  3 Financial Aid Policy Committee  2 Investment Committee  3 Committee on Trustees  4 Alumni Award Committee  1 Master Planning Committee  as needed 

Second, the Board is noteworthy for its highly professional approach to its work. Even with a number of high-powered individuals, trustees “check their egos at the door” and work well together. Third, the Board has been exceptional in its financial support of the school. Beyond all that, the Board engaged last fall in a spirited discussion of the school’s mission statement, as it underwent review as part of the NEASC self-study process. An ad hoc faculty/trustee committee met several times over the summer to draft a new statement, and then it was discussed at length by both the faculty and then the full Board. It was heartening to see how many trustees participated in crafting the new statement: a true team effort. 2.c. Provision is made for participation of all constituencies in the policy-making process, as appropriate. School meets indicator: Yes The Board and the school’s management team and faculty have achieved what seems to be a good balance in determining which policy-making falls to the Board and which to the administration and faculty. On the trustee side alone, committees do much of the groundwork and then share decisions, as appropriate, or bring to the Board matters requiring full Board engagement or approval. For example, as noted above, in the core work of building a financial plan, two trustee committees worked extensively on building a budget – and then all trustees had a chance to weigh in. A second example in the past year came when the Investment Committee addressed a question of asset allocation and maximum size of any single investment. Given the importance of this fiduciary matter, the discussion went from the Investment Committee to the full Board for discussion, back to the IC and finally was

resolved with a full Board vote. Beyond this kind of specific work, the Executive Committee shares its meeting minutes with all trustees, to ensure that all trustees feel invested in the work. Further as noted, essentially all trustees serve on at least one committee, and each summer the Board chair asks every trustee to indicate his or her particular areas of interest for the year ahead. The Board also works to engage other constituencies of the school community when appropriate. Faculty are regular participants, such as at a meeting in November when several teachers demonstrated uses of new technologies. Last year’s discussion of mental health issues with the school’s full Health Team provided important understanding and direction. So too have discussions on issues ranging from the role and challenges of athletics to hiring practices. With current as well as past parents well represented on the Board, as well as alumni, those important constituencies all have voices. A strong and steady effort to include men and women of color on the Board further has strengthened the effort by the Board to be widely representative. 2.d. The school engages in multi-year planning. School meets indicator: Yes The Board makes sure that it takes a long-term view of its role and responsibilities. The faculty and trustees together undertook a long-term planning process in 2001, which provided a blueprint for the first decade of the new century. Then, following the conclusion of the successful Campaign for Belmont Hill in 2010, faculty and trustees again joined together for a new round of strategic planning, examining five areas of school life (as noted above). In addition, on the finance side the Finance Committee regularly takes a longer (usually five-year) look at budget implications, based on key variables. Further, with the successful completion of the Melvoin Academic Center in 2013, plus the purchase of the last of five houses across the street from campus, giving the school a seven-acre rectangular property, the Board will soon launch a new campus master plan effort. Beyond all this, the Board regularly charges ad hoc committees with specific tasks or areas of exploration. Two are scheduled for 2014: a governance review of Board membership, with an eye to possibly creating a new “life” or “honorary” trustee category, and a Finance Committee-led exploration of the future of tuition setting and financial aid. 2.e. There is an understood delegation of decision-making that gives the Head of School the capacity to exercise effective educational leadership. School meets indicator: Yes. The Board has long given the Head of School considerable latitude in leading the school, and particularly in the educational realm. In part this may arise from the fact that the current Head has been in the position for a long time, and trustees have come to trust him on such matters. But even early in the current Head’s tenure, the Board was mindful of its areas of expertise and responsibility. As noted above, the absence of a trustee-level “education” or “educational policy” committee makes it incumbent on the Head to keep the Board well apprised of educational issues, but such matters are addressed regularly at the Board level. Further, the Head works hard to maintain a “no surprises” practice with the Board chair, and issues of note then flow to the Executive Committee as well as to the full Board if/as appropriate.

Self-study committee membership, meeting schedule, and procedures Membership: Richard I. Melvoin, Head of School Jon Biotti, President, Board of Trustees Ruthanne Fuller, Chair, Board of Trustees Committee on Trustees Beverly S. Coughlin, Director of Alumni and Development This section was drafted by the Head of School and reviewed by the members of the committee, with particular note of the key positions held by all three committee members. Notable strengths of the school in this area A mature, stable, high-functioning Board that understands and embraces its role and responsibility Continuity of leadership and participation Notable Board understanding of its roles and responsibilities Clear lines of separation between Board governance and administrative management of school

operations Notable weaknesses/needs While not critical problems, Board leadership seeks to improve in areas including: attendance at Board meetings concern about the efficacy of “phone-in” participation in committee and Board meetings more extensive use and involvement of Corporation members ensuring that trustees and faculty get to know one another better

Aspects warranting attention See above list. In addition, as noted previously, the Board is exploring the creation of a “life” or “honorary” trustee status, which could improve Board operations by opening up spots while still honoring and including some key long-term trustees. Recommendations for school improvement and issues for further discussion (See above.)

Belmont Hill School Incorporated 1923

As Amended and in Effect on March 14, 1990

ARTICLE 1. – THE CORPORATION

1.1 Name. The name by which the Corporation shall be known is “Belmont

Hill School, Incorporated” (hereinafter referred to as the “Corporation”).

1.2 Purposes. The purposes of the Corporation shall be as set forth in the Articles or Organization.

1.3. Fiscal Year. Except as otherwise determined by the Board of Trustees, the fiscal year of the Corporation shall end on the 30th day of June of each year.

1.4 Corporate Seal. The Board of Trustees may adopt and alter the seal of the Corporation.

ARTICLE 2. – INCORPORATORS

2.1 Number, Election and Qualification. The Corporation shall consist of a body of

Corporation members (herein referred to together as the “Incorporators” and separately as an ”Incorporator”). The Incorporators annually at their Annual Meeting shall fix the number of Incorporators and shall elect the number of Incorporators so fixed. At any Special or Regular Meeting the Incorporators may increase the number of Incorporators and elect new Incorporators to complete the number so fixed by a vote of a majority of the Incorporators then in office; or they may decrease the number of Incorporators, but only to eliminate vacancies caused by the death, resignation, removal or disqualification of one or more Incorporators. Unless the Incorporators otherwise designate, there shall be no qualifications for Incorporators. No such designation shall disqualify a member in office when the designation is made. Each Trustee shall automatically be an Incorporator during his/her tenure as a Trustee. 2.2 Tenure. Each Incorporator shall hold office until the next annual meeting of Incorporators and until his successor is elected and qualified, or until he sooner dies, resigns, is removed or becomes disqualified. 2,3 Powers and Rights. In addition to the right to elect Trustees as provided in Paragraph 3.1 and such other powers and rights as are invested in them by law, the Articles of Organization or these By-Laws, the Incorporators shall have such other powers and rights as the Trustees may designate. 2.4 Suspension or Removal. Any Incorporator may be suspended or removed with or without cause by vote of a majority of the Incorporators then in office. An Incorporator may be removed for cause only after reasonable notice and opportunity to be heard. 2.5 Resignation. Any Incorporator may resign by delivery of his written resignation to the President, Treasurer or Secretary of the Corporation, to a meeting of the Incorporators or Trustees or to the Corporation at its principal office. Such resignation shall be effective upon receipt (unless specified to be effective at some other time) and acceptance thereof shall not be necessary to make it effective unless it so states.

2.6 Vacancies. Any vacancy in the membership of Incorporators, except a vacancy resulting from enlargement (which must be filled in accordance with paragraph 2.1), may be filled by the Incorporators. Each successor shall hold office for the unexpired term or until the sooner dies, resigns, is removed or becomes disqualified. The incorporators shall have and exercise all their powers notwithstanding the existence of one or more vacancies.

2.7 Annual Meeting. The Annual Meeting of the Incorporators shall be held at 7:30 p.m. on the second Wednesday in March in each year (unless the date is a legal holiday in the place where the meeting is to be held, in which case the meeting shall be held at the same hour on the next succeeding day not a legal holiday) or at such other earlier or later date and time as shall be determined from time to time by the President or Trustees and stated in the notice of the meeting. The Annual Meeting may be held at the principal place of the Corporation or at such other place within the Commonwealth of Massachusetts as the President or Trustees shall determine. 2.8 Regular Meetings. Regular meetings of the Incorporators may be held at such Incorporators may determine. 2.9 Special Meetings. Special meetings of the Incorporators may be held at any time and at any place within the Commonwealth of Massachusetts. Special Meetings of the Incorporators may be called by the President or by the Trustees, and shall be called by the Secretary, or in the case of the death, absence, incapacity or refusal of the Secretary, by any other offices, upon written application of seven or more Incorporators.

2.10 Call and Notice.

(a) Notice of Meetings. Responsible notice of the time and place of all meetings of the Incorporators shall be given to each Incorporator. Such notice need not specify the purposes of the meeting, unless otherwise required by law, the Articles or Organization or these By-Laws or unless there is to be considered at the meeting (1) contracts or transactions of the Corporation with interested persons, (ii) amendments to these By-Laws (as adopted by the Trustees or otherwise), (iii) an increase or decrease in the number of Incorporators or Trustees, or (iv) removal or suspension of an Incorporator or Trustee.

(b) Sufficient Notice. Except as otherwise expressly provided, it shall be sufficient notice to an Incorporator to send notice by mail at least forty-eight hours or by telegram at least twenty-four hours before the meeting addressed to him/her at his/her usual or last known business or residence address or to give notice to him/her in person or by telephone at least twenty-four hours before the meeting.

(c) Waiver of Notice. Whenever notice of a meeting is required , such notice need not be

given to any Incorporator if a written waiver of notice, executed by him/her (or his/her attorney thereunto authorized) before or after the meeting, is filed with the records of the meeting. A waiver of notice need not specify the purposes of the meeting unless such purposes were required to be specified in the notice of such meeting.

2.11 Quorum. A quorum for the transaction of business at any meeting of the Incorporators shall be seven Incorporators present in person or by proxy. Any meeting may be adjourned to such date or dates not more than ninety days after the first session of the meeting by a majority of the votes cast upon the question, whether or not a quorum is present, and the meeting may be held as adjourned without further notice. Any business which could have been transacted at any meeting of the Incorporators as originally called may be transacted at any adjournment thereof. 2.12 Action by Vote. Each incorporator shall have one vote. When a quorum is present at any meeting, a majority of the votes properly cast by Incorporators present in person or duly represented shall decide any question, including election to any office, unless otherwise provided by law, the Articles of Organization or these By-Laws. 2.13 Action by Writing. Any action required or permitted to be taken at any meeting of the Incorporators may be taken without a meeting if all Incorporators entitled to vote on the matter consent to the action in writing and the written consents are filled with the records of the meetings of the Incorporators. Such consents shall be treated for all purposes as a vote at a meeting. 2.14 Presence Through Communications Equipment. Unless otherwise provided by law or the Articles or Organization, the Incorporators may participate in a meeting of the Incorporators by means of a conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other at the same time and participation by such means shall constitute presence in person at a meeting. 2.15 Proxies. Incorporators may vote either in person or by written proxy dated not more than six months before the meeting named therein, which proxies shall be filed before being voted with the Clerk or other person responsible for recording the proceedings of the meeting. Unless otherwise specifically limited by their terms, such proxies shall entitle the holds thereof to vote at any adjournment of the meeting but the proxy shall terminate after the final adjournment of such meeting.

ARTICLE 3. – BOARD of TRUSTEES

3.1 Election. The Board of Trustees shall consist of such persons as shall be elected to that office at each Annual Meeting of the Incorporators. The Trustees shall be divided as nearly equally into five classes with the term of office of one class expiring each year and, except as otherwise required to give effect to this division into classes, their terms of office shall be five years. The Head of School and the President of the Parents’ Council and the Chair of the Alumni Association shall be Trustees as long as they are holding such positions. At any Special or Regular Meeting the Incorporators or Trustees may increase the number of Trustees and elect new Trustees to complete the number so fixed by a vote of the majority of the Incorporators or Trustees then in office, as the case may be; or they may decrease the number of Trustees by only to eliminate vacancies existing by reason of the death, resignation, removal or disqualification of one or more Trustees. 3.2 Tenure. Each Trustee shall hold office for a term of not to exceed five years and until his successor is elected and qualified, or until he sooner dies, resigns, is removed, or becomes disqualified. 3.3 Powers. The affairs of the Corporation shall be managed by the Trustees who shall have and may exercise all the powers of the Corporation, except those powers reserved to the Incorporators by law, the Articles of Organization or these By-Laws. 3.4 Committees. The Trustees may elect or appoint an Executive Committee and one or more other committees and may delegate to any such committee or committees any or all of their powers. Any committee to which the powers of the Trustees are delegated shall consist solely of Trustees. Unless the Trustees otherwise designate, committees shall conduct their affairs in the same manner as is provided in these By-Laws for the Trustees. The Executive Committee shall keep regular minutes of its proceedings and report the same to the Board of Trustees to the extent required by the vote of said Board of Trustees. The members of any committee shall remain in office at the pleasure of the Trustees. 3.5 Suspension or Removal. A Trustee may be suspended or removed (a) with or without cause by a vote of the majority of the Incorporators then in office or (b) with cause by vote of a majority of the Trustees then in office. A Trustee may be removed with cause only after reasonable notice and opportunity to be heard. 3.6 Resignation. A Trustee may resign by delivering his written resignation to the President, Treasurer or secretary of the Corporation, to a meeting of the Incorporators or Trustees or to the Corporation at his principal office. Such resignation shall be effective upon receipt (unless specified to be effective at some other time) and acceptance thereof shall not be necessary to make it effective unless it so states.

3.7 Vacancies. Any vacancy in the Board of Trustees, however occurring including a vacancy resulting from the enlargement of the Board of Trustees, unless and until filled y the Incorporators, may be filled by the Incorporators or Trustees. Each successor shall hold office for the unexpired term or until he sooner dies, resigns, is removed or becomes disqualified. The Trustees shall have and may exercise all their powers notwithstanding the existence of one or more vacancies in their number. 3.8 Regular Meetings. Regular meetings of the Trustees may be held at such places and at such times as the Trustees may determine. 3.10 Call and Notice.

(a) Regular Meetings. No call or notice shall be required for regular meetings of trustees, provided that reasonable notice (i) of the regular meetings following the determination by the Trustees of the times and places for regular meetings shall be given to absent members, (ii) specifying the purpose of a regular meeting shall be given to each Trustee if there are to be considered at the meeting contracts or transactions of the Corporation with interested persons, amendments to these By-Laws or removal or suspension of a Trustee and (iii) shall be given as otherwise required by law, the Articles of Organization or these By-Laws.

(b) Special Meetings. Reasonable notice of the time and place of special meetings of the Trustees shall be given to each Trustee. such notice need not specify the purposes of a meeting, unless otherwise required by law, the Articles of Organization or these By-Laws or unless there is to be considered at the meeting (i) contracts or transactions of the Corporation with interested persons, (ii) amendments to these By-Laws, (iii) removal or suspension of a Trustee.

(c) Sufficient Notice. Except as otherwise expressly provided, it shall be sufficient notice to a Trustee to send notice by mail at least forty-eight hours or by telegram at least twenty-four hours before the meeting addressed to him/her at his/her usual or last known business or residence address or to give notice to him/her in person or by telephone at least twenty-four hours before the meeting.

(d) Waiver of Notice. Whenever notice of a meeting is required, such notice need not be given to any Trustee if a written waiver of notice, executed by him/her (or his/her attorney thereunto authorized) before or after the meeting, is filed with the records of the meeting, or to any Trustee who attends the meeting without protesting prior thereto or at its commencement the lack of notice to him. A waiver of notice need not specify the purposes of the meeting unless such purposes were required to be specified in the notice of such meeting.

3.11 Quorum. At any meeting of the Trustees, a majority of the Trustees then in office shall constitute a quorum. Any meeting may be adjourned by a majority of the votes cast upon the question, whether or not a quorum is present, and the meeting may be held as adjourned without further notice. 3.12 Action by Vote. When a quorum is present at any meeting, a majority of the Trustees present and voting shall decide any question, including election of officers, unless otherwise provided by law, the Articles of Organization, or these By-Laws. 3.13 Action by Writing. Any action required or permitted to be taken at any meeting of the Trustees may be taken without a meeting if all the Trustees consent to the action in writing and the written consents are filed with the records of the meetings of the Trustees. Such consents shall be treated for all purposes as a vote at a meeting. 3.14 Presence Through Communications Equipment. Unless otherwise provided by law or the Articles of Organization, the Trustees may participate in a meeting of Trustees by means of a conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other at the same time and participation by such means shall constitute presence in person at a meeting.

ARTICLE 4. – OFFICERS

4.1 Number and Qualification. The officers of the Corporation shall be a President, one or more Vice Presidents, Treasurer, one or more Assistant Treasurers, Secretary, and such other offices, if any, as the Trustees may determine. The Corporation may also have such agents, if any, as the Trustees may appoint. Any officer may but not need be a Trustee or Incorporator. A person may hold more than one office at the same time. The Secretary (who shall also be the Clerk of the Corporation), shall be a resident of Massachusetts unless the Corporation has a resident agent appointed for the purpose of service of process. If required by the Trustees, any officer shall give the Corporation a bond for the faithful performance of his duties in such amount and with such surety or sureties as the Trustees may determine. 4.2 Election. The President, Vice President, Treasurer, Assistant Treasurer and Secretary shall be elected annually by the Trustees at their first meeting following the Annual meeting of the Incorporators. Other officers, if any, may be elected by the Trustees at any time. 4.3 Tenure. The President, Treasurer and Secretary shall each hold office until the first meeting of the Trustees following the next Annual Meeting of the Incorporators and until his successor is chosen and qualified, and each other officer shall hold office until the first meeting of the Trustees following the next Annual Meeting of the Incorporators unless a shorter period shall have been specified by the terms of his/her election or appointment, or in each case until he/she sooner dies, resigns, is removed or becomes disqualified. Each agent shall retain his authority at the pleasure of the Trustees.

4.4 President and Vice President. The President shall be the chief executive officer of the Corporation and shall, subject to the direction of the trustees, have general supervision and control of its business. The President shall preside at all meetings of the Incorporators and the Trustees, except as the Incorporators or Trustees otherwise determine. The Vice President or Vice Presidents, if any, shall have such duties and powers as the Trustees shall determine. The Vice President or, if there be more than one, the Vice Presidents in the order determined by the Trustees, shall have and may exercise all the powers and duties of the President during the absence of the President or in the event of his inability to act.

4.5 Treasurer and Assistant Treasurer. The Treasurer shall be the chief financial officer and the chief accounting officer of the Corporation. He/she shall be in charge of its financial affairs, funds, securities and valuable papers and shall keep full and accurate records thereof. He/she shall have such other duties and powers as designated by the Trustees or the President. He/she shall also be in charge of its books of account and accounting records, and of its accounting procedures.

The Assistant Treasurer or Assistant Treasurers, if any, shall have such duties and powers as the Trustees shall determine. The Assistant Treasurer or, if there be more than one, the Assistant Treasurers in the order determined by the Trustees, shall have and may exercise all the powers and duties of the Treasurer during the absence of the Treasurer or in the event of his/her inability to act.

4.6 Secretary. The Secretary shall act as Clerk of the Corporation. The Secretary shall record and maintain records of all proceedings of the Incorporators and Trustees in a book or series of books kept for that purpose, which book or books shall be kept within the Commonwealth at the principal office of the Corporation or at the office of its Secretary or of its resident agent and shall be open at all reasonable times to the inspection of any Incorporator. Such book or books shall also contain records of all meetings, of Incorporators and the original, or attested copies, of the Articles of Organization and By-Laws and names of all Incorporators and Trustees and the address of each. If the Secretary is absent from any meeting of Incorporators or Trustees, A Temporary Secretary chosen at the meeting shall exercise the duties of the Secretary at the meeting. 4.7 Suspension or Removal. An officer may be suspended or removed with or without cause by vote of a majority of Trustees then in office. An officer may be removed with or without cause by vote of a majority of Trustees then in office. An officer may be removed with cause only after reasonable notice and opportunity to be heard.

4.8 Resignation. An officer may resign by delivering his written resignation to the President, Treasurer or Secretary of the Corporation, to a meeting of the Incorporators or Trustees, or to the Corporation at its principal office. Such resignation shall be effective upon receipt (unless specified to be effective at some other time), and acceptance thereof shall not be necessary to make it effective unless it so states. 4.9 Vacancies. If the office of any officer becomes vacant, the Trustees may elect a successor. Each such successor shall hold office for the unexpired term, and in the case of the President, Treasurer and Secretary until his successor is elected and qualified, or in each case until he sooner dies, resigns, is removed or becomes disqualified.

ARTICLE 5. – INDEMNIFICATION of OFFICERS and TRUSTEES

5,1 Indemnification. The Corporation shall, to the extent legally permissible and only to the extent that the status of the Corporation as an organization exempt under Section 501© (3) of the Internal Revenue Code is not affected thereby, indemnify each of its Trustees and officers (including persons who serve at its request as trustees, directors, officers, employees or other agents of another organization in which it has an interest) against all liabilities and expenses including amounts paid in satisfaction of judgements in compromise or as fines and penalties, and counsel fees, reasonably incurred by him in connection with the defense or disposition of any action, suit or other proceeding, whether civil or criminal, in which he may be involved or with which he may be threatened, while in office or thereafter, by reason of his being or having been a Trustee or officer of the Corporation or a trustee, director, officer, employee or agent of such other organization, except with respect to any matter as to which he shall have been adjudicated in any proceeding not to have acted in good faith in the belief that his action was in the best interests of the Corporation; provided, however, that as to any matter disposed of by a compromise payment by such Trustee or officer, pursuant to a consent decree or otherwise, no indemnification either for said payment or for any other expenses shall be provided unless such compromise shall be approved as in the best interests of the Corporation, after notice that it involves such indemnification: (a) by a majority of the disinterested Trustees then in office, provided that there has been obtained an opinion in writing of independent legal counsel to the effect that such Trustee or officer appears to have acted in good faith in the reasonable believe that his action was in the best interests of the Corporation; or (b) by a majority of the disinterested Incorporators entitled to vote, voting as a single class. Expenses, including counsel fees, reasonably incurred by any such Trustee or officer in connection with the defense or disposition of any such action, suit or other proceeding, may be paid from time to time by the Corporation in advance of the final disposition thereof upon receipt of an undertaking by such individual to repay the amounts so paid to the Corporation if he shall be adjudicated not to be entitled to the indemnification under Massachusetts General Laws, Chapter 180, Section 6. The right of indemnification hereby provided shall not be exclusive of or affect any other rights to which any Trustee or officer may be entitled. Nothing contained herein shall affect any rights to indemnification to which corporate personnel may be entitled by contract or otherwise under law. As used in this paragraph, the terms “Trustees” and “officers” include their respective heirs, executors and administrators, and an “interested” Trustee or Incorporator is one against whom in such capacity the proceeding in question or another proceeding on the same or similar grounds is then pending.

ARTICLE 6. – MISCELLANEOUS PROVISIONS

6.1 Execution of Instruments. Except as the Trustees may generally or in particular cases authorize the execution thereof in some other manner, all deeds, leases, transfers, contracts, bonds, notes, checks, drafts and other obligations made, accepted or endorsed by the Corporation shall be signed by the President or by the Treasurer. Any recordable instrument purporting to affect an interest in real estate, executed in the name of the Corporation by two of its officers, of whom one is the President or Vice President and the other is the Treasurer or an Assistant Treasurer, shall be binding on the Corporation in favor of a purchaser or other person relying in good faith on such instrument notwithstanding any inconsistent provisions of the Articles of Organization, By-Laws, Resolutions or Votes of the Corporation.

6.2 Evidence of Authority. A certificate by the Secretary or a Temporary Secretary as to any action taken by the Incorporators, Trustees or any officer or representative of the Corporation shall as to all personnel who rely thereon in good faith be conclusive evidence of such action. 6.3 Stock Certificates. No further capital stock shall be issued by the Corporation except that new certificates of stock may be issued on such terms and conditions as the Trustees may determine to replace shares of stock heretofore issued which have been lost or destroyed, provided a bond is furnished in form and amount satisfactory to the Trustees, and except that new certificates of stock may be issued to the transferee of any stock heretofore issued. All shares of the capital stock shall be transferable only on the books of the Corporation, by the holder of record thereof in person, or by duly authorized attorney, upon surrender of the certificate duly endorsed but not otherwise. The Corporation may from time to time acquire by purchase, gift, or otherwise any of its capital stock, and all stock so acquired shall thereafter be retained in the treasury of the Corporation and shall not thereafter be transferred.

6.4 Nonsectarian Institution. The Corporation shall always be maintained as a nonsectarian institution.

6.5 Personal Liability. The Incorporators, Trustees and officers of the Corporation shall not be personally liable for any debt, liability or obligation of the Corporation. All persons, corporations or other entities extending credit to, contracting with, or having any claim against, the Corporation, may look only to the funds and property of the Corporation for the payment of any such contract or claim, or for the payment of any debt, damages, judgment or decree, or of any money that may otherwise become or payable to them from the Corporation. 6.6 Conflict of Interest.

Policy: Officers should conduct the duties of their respective positions with Belmont Hill School in a manner which is consistent at all times with the best interests of the School. All decisions of each Belmont Hill Official are only to be made on the basis of a desire to promote the best interests of Belmont Hill School.

Disclosure: In the event a Belmont Hill Official must consider or act upon a transaction

on behalf of Belmont Hill School which involves: (a) a Belmont Hill Official or a member of his/her family (a spouse, parent, sibling, child or any other person related by blood or marriage) or (b) an organization with which a Belmont Hill Official is affiliated. Such Belmont Hill Official, at the first knowledge of the transaction, shall fully disclose to the President of the Board of Trustees the precise nature of the interest or involvement.

Disclosure is also required by a Belmont Hill Official concerning all relationships and business affiliations that could foreseeably give rise to a conflict of interest involving Belmont Hill School. For the purpose of this policy, “affiliation” is understood to exist if the Belmont Hill Official, or a member of his family: (a) is an owner, shareholder (*), director, trustee, officer, partner, employee or agent of such organization, or formerly occupied any of the foregoing positions; or (b) has any other direct or indirect dealings with such organization from which he or she knowingly receives or expects to receive economic benefit including gifts or gratuities.

All disclosures required under this policy shall be made in writing and shall be retained by the President of the Board of Trustees who shall be responsible for the administration of this policy.

Matters under the administration of this policy concerning a Belmont Hill Official shall be reported initially to the President of the Board of Trustees.

Restraint on Participation: If a Belmont Hill Official has a conflict of interest in any matter before the Belmont Hill School, such person shall refrain from participating in deliberations or decisions relating to the proposed transaction. No person having a conflict of interest shall vote on any matter relating to the transaction nor should such person be present at the deliberations or the vote on such matter. Any Belmont Hill Official who is uncertain about possible conflict of interest in any matter, may request the Board of Trustees to determine whether a possible conflict exists.

Interpretation: This policy shall be interpreted in conjunction with the applicable provisions of the By-Laws of the Belmont Hill School.

(*) Nothing in this policy shall be deemed to require an owner of less than 5% of the common stock of a publicly traded corporation to make disclosure if such corporation is involved in a transaction with Belmont Hill School.

ARTICLE 7. – AMENDMENTS

7.1 These By-Laws may be altered, amended or repealed, in whole or in part by, the affirmative vote of the members of the Corporation at any meeting of Incorporators, provided that notice of the substance of the proposed amendment is stated in the notice of such meeting. If authorized by the Articles of Organization, the Trustees, by a majority of their number then in office, may also make, amend or repeal these By-Laws, in which by law, the Articles of Organization or these By-Laws, requires action by the Incorporators. No later than the time of giving notice of the meeting of Incorporators next following the making, amending or repealing by the Trustees of any By-Law, notice thereof stating the substance of such change shall be given to all Incorporators entitled to vote on amending the By-Laws. The Incorporators may alter, amend, or repeal any By-Laws adopted by the Trustees or otherwise, or adopt, alter, amend or repeal any provision which by law, the Articles of Organization or these By-Laws requires action by the Incorporators.