Babson College

“Pursuant to the organization's bylaws, the board of trustees shall have an executive committee which shall consist of the president of the corporation, the chairperson of the board of trustees, the vice chairperson(s) of the board of trustees, the chairperson-elect of the board of trustees and such other trustees as shall be appointed by the chairperson of the board of trustees of the corporation for terms of one (1) year, but any member may be reappointed. During the intervals between meetings of the board of trustees, subject to such limitations as may be prescribed by resolution of the board of trustees, the executive committee shall have general superintendence and administration of the current management of the affairs of the corporation, and may exercise all the authority of the board of trustees with respect thereto including the power to authorize the seal of the corporation to be affixed to all papers that may require it. Form 990, part vi, section a, line 2 trustees john e. Johnson and eric g. Johnson have a family relationship. President stephen spinelli and vice chair/trustee craig r. Benson have a business relationship.”

“The organization amended its bylaws in october 2020 to reclassify certain officer positions. See form 990, part vii, section a footnote below for additional details.”

“The form 990 is prepared internally and reviewed by management and pricewaterhousecoopers, llp "pwc". The full 990 return, including schedule b, is then reviewed by senior management and the audit committee. The final form 990, with the exception of schedule b, is then made available to the full board of trustees prior to filing with the irs. Schedule b is available to any member of the board of trustees upon request. Pwc signs the return as paid preparer.”

“Each year all trustees are required to complete and sign a conflict of interest questionnaire and statement of compliance. Their response to the questionnaire is reviewed by management. In addition, payroll and vendor files are reviewed for the existence of transactions with related parties. If a conflict occurs, the board member will recuse him or herself from any matters relating to the transaction.”

“Compensation for the president and officers of the college is reviewed by human resources at least once a year. This review includes comparing relevant, independent market compensation and is documented. The executive committee of the board of trustees is provided appropriate information including a recommendation for compensation (or increase in compensation). Any change to compensation for the president and officers is approved by this committee.”

“Babson college's financial statements can be found at www.babson.edu. Babson does not make available to the public our conflict of interest policy, or other governing documents.”

“Effective january 2016, babson college amended its bylaws to re-classify certain positions. As such, they will no longer be classified as officers and going forward will be listed as former officers. Former officers due to amended bylaws include: phillip knutel donna bonaparte diana zais jane edmonds effective october 2020, babson college amended its bylaws to re-classify certain positions. As such, they will no longer be classified as officers and next year will be listed as former officers. Former officers due to amended bylaws include: mary rose edward chiu”

“Organization's mission babson college educates entrepreneurial leaders who create great economic and social value everywhere. Babson college is a global leader in management education with 2,668 undergraduate and 1,108 graduate enrollment. Our innovative curricula challenge students to think creatively and across disciplinary boundaries. We cultivate the willingness to take and manage risk, the ability to energize others toward a goal, and the courage to act responsibly. Our students understand that leadership requires both technical knowledge and a sophisticated appreciation of institutions, societies, cultures, and the self. They welcome the challenge of learning continuously and taking responsibility for their careers. Our students will be key contributors in established enterprises as well as emerging ventures.”

“The audit committee of the board of trustees is responsible for oversight of the audit. The committee reviews and approves the audited financial statements.”