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. Mission Form 990, Part III, Line 1 The College is organized into two schools, each of which offers both undergraduate and graduate degree programs: the School of the Arts and the School of Communication. In addition to its Boston, Massachusetts location, the College maintains campuses in Los Angeles, California and Kasteel Well, The Netherlands. Business relationships Form 990, Part VI, Section A, line 2 DURING THE FISCAL YEAR ENDED JUNE 30, 2016, TRUSTEES VINCENT J. DI BONA AND GARY GROSSMAN HAD A BUSINESS RELATIONSHIP. Changes to the Organization's Bylaws Form 990, Part VI, Section A, line 4 The college's bylaws were amended March, 2016 to grant the Chief Financial Officer the right to serve as Assistant Treasurer to the Board for the purposes of executing real estate documents pursuant to Massachusetts General Laws Ch. 155s8.”

“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. If the trustee has a conflict, they must recuse themselves from any committees tasked with making a decision on the topic where they have a conflict.”

“Part vi, section b, lines 15a and 15b every year, the compensation committee of the board of trustees reviews compensation paid to all officers and key employees to ensure that said employees are compensated reasonably. Additionally, every other year, the college performs an in-depth compensation review of its officers and key employees with the assistance of an independent outside compensation consultant. In either case, if necessary, the college revises the compensation paid. As part of the vice president compensation review, independent outside compensation consultants work with the president and consider the responsibilities of each position, the college's needs and expectations with respect to each position, the job performance of each vice president, the financial health of the college, and comprehensive comparable data. With this information, independent outside compensation consultants make a recommendation for the vice presidents compensation which is then shared with the president for approval, and finally with the compensation committee of the board of trustees for their final approval. The presidents compensation is determined on a contractual basis. In determining the presidents compensation, an independent outside compensation consultant considers comparable data for similar institutions, the responsibilities of the position, the college's needs and expectations with respect to the position, and the financial health of the college. With this information, the independent outside compensation consultant makes a recommendation which is formally approved by the board of trustees. The above process, including identification of the board members who were present and approved the compensation, is documented in the meeting minutes of the compensation committee of the board of trustees and the full board of trustees, respectively. These minutes are then approved at the next meeting of the respective groups. As described, the compensation procedures of the college met 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.”

“Form 990, part xi, line 9 other changes in net assets include the change in present value of a charitable remainder trust in the amount of ($56,076).”