Williams College

“Form 990, part i, line 1 and part iii, line 1 williams seeks to provide the finest possible liberal arts education by nurturing in its students the academic and civic virtues and their related traits of character. As both an educational and social imperative, williams welcomes talented students irrespective of their financial resources. Once enrolled, they learn - both inside and outside the classroom - that the privilege of a williams education implies both the opportunity and responsibility to serve society at large. The college strives to achieve such excellence by fostering a community of learning that comprises students, faculty and staff, in partnership with networks of deeply devoted alumni and parents.”

“Form 990, part iii, line 4a williams is an independent liberal arts college for approximately 2,000 full-time undergraduate and 50 graduate students who come from all of the 50 states and many foreign countries. The williams curriculum offers study in the humanities, the social sciences and the natural sciences and combines a broad education with knowledge of one field in depth. The college offers the bachelor of arts degree at the undergraduate level. In addition, master of arts programs in policy economics and history of art are offered.”

“Form 990, part vi, section a, line 1a williams college's governing body and governing documents delegate authority on a limited scope to an executive committee consisting of the board chair, the president of the college, and 5-7 other board members selected annually by the chair and president acting jointly. Form 990, part vi, section a, line 4 williams college amended its bylaws in april of 2018. The amended bylaws expanded the stated responsibilities of the audit committee to include reviewing and evaluating the adequacy of the college's internal controls, as well as its policies and practices for ensuring compliance with applicable laws and regulations. The responsibilities of the audit committee now also include providing feedback to the college on areas of interest and concern with regard to enterprise risk management.”

“Form 990, part vi, line 11a working with pricewaterhousecoopers, llp ("pwc"), the form 990 is prepared for review by senior management and the audit committee. Pwc signs the return as paid preparer. A final form 990 excluding the names of anonymous donors and the amounts for certain anonymous donors was then distributed to the full board before filing with the irs.”

“Form 990, part vi, section b, line 12c trustees are required to complete a conflict of interest disclosure annually. The disclosure forms are reviewed by the chair of the audit committee. Trustees having a conflict of interest on any matter that comes before the board, or any committee of the board, for action recuse themselves from participating in the decision. Employees are required to complete a conflict of interest disclosure form annually. Disclosures are reviewed by department heads and senior staff. Any employee with a conflict of interest would be precluded from involvement in decision making or financial dealings with the entity or relationship giving rise to the conflict. Trustees and employees are required to report any mid-year changes to the president's office and their supervisor respectively.”

“FORM 990, PART VI, SECTION B, LINE 15 WILLIAMS COLLEGE ASSIGNS THE DUTY OF SETTING EXECUTIVE COMPENSATION TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE SELECTS A SUBSET OF THE COMMITTEE TO SERVE AS AN INDEPENDENT COMPENSATION COMMITTEE THAT ANNUALLY REVIEWS THE COMPENSATION OF THE PRESIDENT. THIS COMMITTEE CONSIDERS COMPENSATION SURVEYS, MARKET DATA AND ANALYSES. THE COMMITTEE'S DELIBERATIONS ARE NOTED. THE COMPENSATION OF THE ORGANIZATION'S OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT. THE PRESIDENT CONSIDERS COMPENSATION SURVEYS, MARKET DATA AND ANALYSES. The President's deliberations and decisions are also documented.”

“Form 990, part vi, section c, line 18 the form 990 is available upon request, on the college website, and on guidestar.org.”

“FORM 990, PART VI, SECTION C, LINE 19 Williams College's governing documents, conflict of interest policy, and financial statements are posted on the College website. FORM 990, PART VII, SECTION A PROTIK MAJUMDER BECAME INTERIM PRESIDENT (AN OFFICER) EFFECTIVE JANUARY 1, 2018. THEREFORE, AS REQUIRED HE IS LISTED ON PART VII AND SCHEDULE J, PART II, WITH CALENDAR YEAR 2017 COMPENSATION REPORTED.”

“Form 990, part ix, lines 5 and 11f investment expenses are reported net with investment income, consistent with financial statement reporting.”

“Form 990, part xi, line 9 life income payments and change in present value $ (1,371,090) gain and net settlement on interest rate swaps $ 2,100,268 investment income on split interest agreements $ 1,731,168 change in net assets not owned by college $ 1,359,137 _________ total $ 3,819,483”