Bowdoin College

“Core form 990, part i, line 1 and part iii, line 1 it is the mission of the college to engage students of uncommon promise in an intense full-time education of their minds, exploration of their creative faculties, and development of their social and leadership abilities in a four-year course of study and residence that concludes with a baccalaureate degree in the liberal arts. Unrelated business revenue core form 990, part i, line 7a bowdoin college's unrelated business taxable income for fiscal year ended june 30, 2018 included income created under irc 512(a)(7) related to qualified transportation fringe benefits. The unrelated business revenue reported on form 990, part viii, statement of revenue does not include the expenses that create unrelated business taxable income under irc 512(a)(7).”

“Core form 990, part vi, section b, line 11b in april, a complete copy of form 990 is provided to the president and the senior vice president for finance and administration and treasurer for thorough review in advance of regularly scheduled board of trustees meetings and filing with the internal revenue service (irs) in may. Subsequent to this review, a complete copy of form 990 is provided to the chairman of the board and the chair of the audit, risk, and reputation committee. All other trustees are provided a public disclosure copy of form 990 for review. The schedule b as filed with the irs is available to all trustees, upon request only, at the board of trustees meetings in may. The form 990 is filed with the irs after the trustees review and approve the form at these meetings.”

“Core form 990, part vi, section b, line 12c the college surveys annually all members of the board, all officers of instruction, and all officers of administration as to potential conflicts of interest. Surveys are reviewed by the president, the senior vice president for finance and administration and treasurer, and the legal officer and assistant secretary of the college. The results of the survey are reported to the audit, risk, and reputation committee and to the board of trustees. Issues are discussed with legal counsel.”

“Core form 990, part vi, section b, line 15 in accordance with treasury regulation 53.4958-6 the executive committee of the board of trustees, acting as a compensation committee, annually reviews and approves the compensation of the president and senior management officials. In all cases, the executive committee considers compensation surveys and competitive market data. For senior management, the president provides the executive committee with recommended changes to compensation levels. The executive committee documents such decisions in its minutes where appropriate.”

“Core form 990, part vi, section c, line 19 the organization makes its governing documents, conflict of interest policy, form 990, and financial statements available to the public upon request. Also, form 990 and financial statements are available on the organizations website at www.bowdoin.edu/finance/financial-documents.”

“Net unrealized gain on interest rate swap $1,470,000 postretirement-related changes other than net periodic cost ($676,000) net change in annuity and life income funds $75,000 gain on asset retirement obligation $10,000 loss on advance refunding ($1,610,000) unamortized bond issue discounts/costs ($589,000) uncollectible pledges ($354,000) ---------- total ($1,674,000)”