Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 11B | A draft of the Form 990 is prepared by the Colleges' management in conjunction with the external audit and tax advisors and provided to a trustee representative from the Audit and Compliance and the Financial Affairs Committees of the Board of Trustees. The form is reviewed and corrections or changes are made as necessary. A final form 990 is then distributed to the full board before filing it with the IRS. | |
| FORM 990, PART VI, SECTION B, LINE 12C | Annually, officers, trustees, and key employees are required to disclose in writing conflicts of interest or potential conflicts of interest on a disclosure statement. At this time a rigorous process of reviewing the disclosures is undertaken by the Assistant Secretary and Assistant Treasurer's office to ensure conflicts are timely dealt with if necessary. | |
| FORM 990, PART VI, SECTION B, LINE 15 | The Executive Committee of the Board of Trustees (omitting the President for this purpose) is comprised of members without a conflict of interest. This committee reviews the compensation for the president. An annual process of accessing the president's performance and reviewing comparative compensation data is performed in order to recommend compensation changes. A motion to be approved by the full board is drafted by the executive committee after the review process. The discussions of the committee and full board are contemporaneously documented in the board minutes. The Colleges meet the three requirements of the rebuttable presumption. | |
| FORM 990, PART VI, SECTION C, LINE 19 | Hobart and William Smith Colleges make their governing documents, conflict of interest policy and financial statements available to the public upon request. | |
| FORM 990, PART XI, LINE 9 | CHANGE IN INTEREST RATE SWAP $1,868,627 |
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