Hilbert College

“Deborah DiMatteo is an officer at M&T Bank; Hilbert issued a bond that is held by M&T Bank and entered into a capital lease for computer equipment that is held by the bank. James Dunlop, Richard Ruh, and Cynthia Zane have a business relationship through their affiliation with Catholic Health System.”

“The college did revise its bylaws during the 2014-2015 year in order to comply with the New York State Not-for-Profit Revitalization Act. The substantive change was to break what had been the Audit/Finance Committee into two committees. Independent trustees comprise the Audit and Compliance Committee and have responsibility for the annual independent audit as well as managing potential conflicts of interest and the Whistleblower policy. The Finance Committee includes members of the Audit and Compliance Committee as well as others and is responsible for oversight of the college's finances and other operational matters.”

“A draft copy of the Form 990 was distributed to all current members of the college's Finance Committee in advance of its February 24, 2016 meeting. The committee discussed the form at that meeting. A final draft of the form was emailed as a PDF to all current members of the Board of Trustees and the form was reviewed at the board meeting on March 17, 2016. Comments were noted prior to the filing of the form with the IRS.”

“Trustees and officers of the college annually file a conflict of interest statement. Each person identifies actual and potential conflicts on the statement.”

“The Executive Committee of the college's Board of Trustees meets annually to set the President's salary for the upcoming year.They gather data form the Form 990 of area colleges and use other regional and national salary surveys. They then make a recommendation to the other Trustees to set the compensation for the President. The President has a written employment contract that covers five years.”

“Hilbert College does not make its bylaws, policies, or financial statements available to the general public. It does publish a summary of its financial statements in its Annual Report that is available to the general public. Additionally, Hilbert College does comply with regulations related to the disclosure of IRS Form 990. All parts of Form 990, as required, are published on the internet via guidestar.org. Also the college does make copies of the Form 990, except for Schedule B, available to individuals upon their request.”

“As a result of the implementation of New York state's Not for Profit Law, responsibility for oversight of the annual independent audit has been transitioned to the newly established Audit and Compliance committee. All members of the committee meet the definition of independent as stated in the law.”