TY 2017 Form 990 Schedule O

efile Public Visual Render ObjectId: 201921239349300612 - Submission: 2019-05-03 TIN: 55-0357021

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2017

Open to Public
Inspection

Name of the organization

DAVIS & ELKINS COLLEGE

Employer identification number

55-0357021

Return Reference	Explanation
FORM 990, PART VI, SECTION B, LINE 11B	THE FORM 990 IS SUBMITTED TO THE FINANCIAL OVERSIGHT COMMITTEE OF THE BOARD OF TRUSTEES.
FORM 990, PART VI, SECTION B, LINE 12C	ALL MEMBERS OF THE BOARD ARE EXPECTED TO AVOID CONFLICTS OF INTEREST RISING FROM THEIR PERSONAL AND BUSINESS AFFILIATIONS IN THEIR RESPONSIBILITY TO THE DAVIS & ELKINS COLLEGE BOARD. INDIVIDUALS WILL NOT BE CONSIDERED FOR BOARD MEMBERSHIP IF THERE IS AN OBVIOUS CONFLICT; HOWEVER, IF ISSUES ARISE DURING THE SERVICE OF A BOARD MEMBER, THE MEMBER SHALL RECUSE HIM OR HERSELF FROM ANY VOTE THAT WOULD REPRESENT A CONFLICT OF INTEREST. AT THE ANNUAL MEETING ALL BOARD MEMBERS ARE REQUESTED TO COMPLETE A CONFLICT OF INTEREST FORM. THIS SAME FORM IS FURNISHED TO ALL FACULTY AND SENIOR ADMINISTRATIVE PERSONNEL. UPON RECEIPT OF EXECUTED FORMS THE AUDIT COMMITTEE REVIEWS THE COMPLETED FORMS AND REPORTS THE RESULTS OF THIS REVIEW TO THE ENTIRE BOARD AT THE REGULAR MEETING OF THE BOARD IN OCTOBER. POSSIBLE REPORTED CONFLICTS ARE EXPLORED ON AN INDIVIDUAL BASIS.
FORM 990, PART VI, SECTION B, LINE 15A	PRESIDENT'S COMPENSATION -HE OR SHE SHALL BE ELECTED BY THE BOARD, WITH COMPENSATION FIXED BY THE BOARD, AND SHALL HOLD OFFICE AT ITS WILL. THE ANNUAL BUDGET PROCESS, WHICH IS APPROVED BY THE BOARD AT ITS ANNUAL MEETING, THE SPRING BOARD MEETING, WOULD ESTABLISH THE COMPENSATION OF THE PRESIDENT FOR THE FUTURE FISCAL YEAR.
FORM 990, PART VI, SECTION C, LINE 18	FORMS ARE AVAILABLE UPON REQUEST, NO FEE IS CHARGED.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
FORM 990, PART XI, LINE 9:	CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 136,079.

Return Reference

Explanation

FORM 990, PART VI, SECTION B, LINE 11B

THE FORM 990 IS SUBMITTED TO THE FINANCIAL OVERSIGHT COMMITTEE OF THE BOARD OF TRUSTEES.

FORM 990, PART VI, SECTION B, LINE 12C

ALL MEMBERS OF THE BOARD ARE EXPECTED TO AVOID CONFLICTS OF INTEREST RISING FROM THEIR PERSONAL AND BUSINESS AFFILIATIONS IN THEIR RESPONSIBILITY TO THE DAVIS & ELKINS COLLEGE BOARD. INDIVIDUALS WILL NOT BE CONSIDERED FOR BOARD MEMBERSHIP IF THERE IS AN OBVIOUS CONFLICT; HOWEVER, IF ISSUES ARISE DURING THE SERVICE OF A BOARD MEMBER, THE MEMBER SHALL RECUSE HIM OR HERSELF FROM ANY VOTE THAT WOULD REPRESENT A CONFLICT OF INTEREST. AT THE ANNUAL MEETING ALL BOARD MEMBERS ARE REQUESTED TO COMPLETE A CONFLICT OF INTEREST FORM. THIS SAME FORM IS FURNISHED TO ALL FACULTY AND SENIOR ADMINISTRATIVE PERSONNEL. UPON RECEIPT OF EXECUTED FORMS THE AUDIT COMMITTEE REVIEWS THE COMPLETED FORMS AND REPORTS THE RESULTS OF THIS REVIEW TO THE ENTIRE BOARD AT THE REGULAR MEETING OF THE BOARD IN OCTOBER. POSSIBLE REPORTED CONFLICTS ARE EXPLORED ON AN INDIVIDUAL BASIS.

FORM 990, PART VI, SECTION B, LINE 15A

PRESIDENT'S COMPENSATION -HE OR SHE SHALL BE ELECTED BY THE BOARD, WITH COMPENSATION FIXED BY THE BOARD, AND SHALL HOLD OFFICE AT ITS WILL. THE ANNUAL BUDGET PROCESS, WHICH IS APPROVED BY THE BOARD AT ITS ANNUAL MEETING, THE SPRING BOARD MEETING, WOULD ESTABLISH THE COMPENSATION OF THE PRESIDENT FOR THE FUTURE FISCAL YEAR.

FORM 990, PART VI, SECTION C, LINE 18

FORMS ARE AVAILABLE UPON REQUEST, NO FEE IS CHARGED.

FORM 990, PART VI, SECTION C, LINE 19

THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.

FORM 990, PART XI, LINE 9:

CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 136,079.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2017

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