Emerson College Dept of Finance

“Form 990, Part I, Line 6 the college identified the areas and departments that use volunteers during the tax year. these departments were asked to estimate the number of volunteers used for the various programs. the types of services provided by these volunteers include phone-a-thons, orientation, campus tour guides, and information sessions. the number does not include employees. Business relationships Form 990, Part VI, Section A, line 2 During the fiscal year ended june 30, 2015, trustees vincent j. di bona and gary grossman had a business relationship. FORM 990 REVIEW PROCESS PART VI, SECTION B, LINE 11B the form 990 is prepared by an independent accounting firm with information provided by management. A DRAFT FORM 990 IS GIVEN TO THE AUDIT COMMITTEE FOR THEIR REVIEW. DURING THIS REVIEW, QUESTIONS REGARDING THE DRAFT FORM 990 ARE ANSWERED BY MANAGEMENT. CHANGES ARE MADE IF APPROPRIATE. THE FORM 990 IS THEN PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY BY WAY OF A SECURE, PASSWORD PROTECTED WEBSITE ON WHICH THE ENTIRE FORM 990 AND ALL REQUIRED SCHEDULES ARE AVAILABLE FOR REVIEW. ALL TRUSTEES ARE ASKED TO REVIEW THE FILING AND FORWARD ANY COMMENTS TO MANAGEMENT FOR CONSIDERATION AND DISCUSSION IF NECESSARY WITH THE INDEPENDENT TAX RETURN PREPARER. AT THE END OF THE REVIEW PERIOD, THE FINAL RETURN, AS IT WILL BE FILED WITH THE IRS, IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY PRIOR TO FILING.”

“PART VI, SECTION B, LINE 12C THE BY-LAWS OF THE BOARD OF TRUSTEES CONTAIN A WRITTEN CONFLICT OF INTEREST POLICY. officers and MEMBERS OF THE BOARD ANNUALLY ACKNOWLEDGE RECEIPT OF, AND FAMILIARITY WITH, THE POLICY. WHEN An individual DISCLOSES A POSSIBLE CONFLICT OF INTEREST, OR WHEN A POSSIBLE CONFLICT IS OTHERWISE IDENTIFIED, IT IS REFERRED TO THE PRESIDENT OF THE COLLEGE AND THE CHAIR OF THE BOARD OF TRUSTEES. THE CHAIR REVIEWS THE POSSIBLE CONFLICT OF INTEREST AND, IF WARRANTED, SELECTS AN AD HOC COMMITTEE TO REVIEW THE POSSIBLE CONFLICT OF INTEREST. THE PRESIDENT AND THE VICE PRESIDENT AND GENERAL COUNSEL OF THE COLLEGE PREPARE A MEMORANDUM DESCRIBING THE POTENTIAL CONFLICT OF INTEREST THAT IS SENT TO THE MEMBERS OF THE AD HOC COMMITTEE. THE MEMBERS OF THE AD HOC COMMITTEE MEET AND DETERMINE WHETHER TO PERMIT THE POTENTIAL CONFLICT OF INTEREST.”

“PART VI, SECTION B, LINES 15A AND 15B DURING FISCAL YEAR 2015, The college reviewed and revised the compensation paid to all its officers and key employees. The college was assisted throughout the process by independent outside counsel. Vice president compensation recommendations are made by the president and reviewed by the Compensation committee of the board of trustees. After discussion, the committee approves recommended compensation to be submitted to the full board of trustees. The president and vice president compensations are then considered at a meeting of the full board of trustees. After discussion, the board of trustees approve compensation terms for the president and each vice president. At the meetings of both the compensation committee and the board of trustees, it is first determined that no member of the committee or board has a conflict of interest. Then, the committee and board consider the responsibilities of each position, the college's needs and expectations with respect to each position, the job performance of each vice President and the president, the financial health of the college, and comprehensive comparable data provided by an independent national compensation consulting firm. The above process, including identification of the board members who were present and approved the compensation, was documented in the minutes of the board of trustees meeting. These minutes were then approved at the next Board of trustees meeting. as described, The compensation procedures of the college meet the requirements of the rebuttable presumption.”

“PART VI, SECTION C, LINE 19 EMERSON COLLEGE MAKES AVAILABLE FORM 990 on its website, AND FORM 990-T UPON REQUEST. DURING THE YEAR, THE COLLEGE RECEIVES REGULAR REQUESTS FOR THE TAX DOCUMENTS AND THESE REQUESTS ARE NORMALLY FULFILLED WITHIN A DAY. THE COLLEGE MAKES AVAILABLE ITS GOVERNING DOCUMENTS (BY-LAWS) ON THE COLLEGE'S WEBSITE. THE COLLEGE MAKES AVAILABLE ON ITS WEBSITE ITS CONFLICT OF INTEREST POLICY AND ITS FINANCIAL STATEMENTS.”