Champlain College Incorporated

“Form 990 review process the accounting staff at the college is responsible for gathering and drafting the information to populate the form 990 in conjunction with kpmg llp, independent accountants. Once the draft is completed, it is reviewed by the assistant treasurer and treasurer. The college electronically distributes, via the board book, a complete copy of its form 990 to each member of the governing body for their review, prior to filing.”

“Conflict of interest policy the college has a statement of policy regarding conflict of interest for the board of trustees, officers, and key employees. Attached to the conflict of interest statement is a schedule of all trustee, officer and/or key employees of the college, and individuals and entities who have or have had key business relationships with the college (e.g., investment managers, lenders, other financial institutions, key vendors providing either goods or services to the college). Upon joining the board of trustees and annually thereafter, each member of the board must review the schedule and complete and sign a conflict of interest statement. The conflict of interest statements are reviewed by the chair of the audit committee of the board of trustees. If any conflict of interest exists by a voting member of the committee or board of trustees, they must recuse themselves of matters pertaining to a conflict. The minutes of such meeting shall reflect that a disclosure was made by the trustee not voting.”

“Compensation policy the compensation committee (the committee) will annually review the reasonableness of compensation levels of all officers on a position-by-position basis. The committee is independent and free from conflict of interest. The committee reviews the nature and scope of each position and assesses the basis for which compensation is to be paid to the individual. The committee determines compensation for all officers, except the president, upon receipt of written performance reviews and "valid market data". The president reviews each officer's performance for the prior year and submits a compensation recommendation to the committee based on a combination of "valid market dataindividual performance. "valid market data" is determined using the following method: 1.1 determine the list of overlap institutions - identify other private colleges that have a high number of applicant overlaps with champlain. This data is from the national student clearinghouse, which tracks the colleges to which students apply and ultimately choose to attend. 1.2 using irs tax return data (via guidestar), find the most recent report identifying the most highly compensated employees at overlap institutions. 1.3 adjust the reported salaries and benefits by a percentage to make them roughly comparable to current salary data. This inflation factor is derived from nationally reported higher education average pay hikes in past years. Both the base year compensation, as well as the adjusted salary, are reported back to the committee. 1.4 provide the committee with comparisons of champlain salary and benefits to overlap other institutions on a position-by-position basis narrative information will be provided, if similarly titled positions at other institutions are known to differ in scope of responsibility. The chair and vice chair of the board of trustees annually conduct a performance review of the president. This review, combined with the "valid market data" described above, is discussed and considered by the committee when arriving at the president's annual compensation package. The decisions of the committee are contemporaneously documented in the minutes of each meeting. The compensation procedures of the college meet the requirements of the rebuttable presumption.”

“Public disclosure policy the organization's financial statements and form 990 are available upon request. The form 990 is also posted on www.guidestar.org.”

“Organization's mission champlain college educates adaptable thinkers, daring change-makers, and inclusive innovators who shape professions and inspire communities. Champlain's agile and entrepreneurial approach to higher education uniquely blends technology leadership, market savvy, innovation and fiscal responsibility with a commitment to liberal learning, community involvment and "the human touch." this distinctive approach permeates the delivery of relevant, rigorous student-centered programs in business, arts, applied technology, and public service.”

“OTHER CHANGES IN NET ASSETS Line 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS $ 36,769 CHANGE IN CONTRIBUTION ALLOWANCE FOR DOUBTFUL ACCOUNTS $(316,646) TOTAL $(279,877)”