Gettysburg College

“The form 990 is prepared by gettysburg college and is reviewed by college management and an independent tax firm for completeness and accuracy. Prior to filing, form 990 is made available to all members of the board of trustees via the board portal. In addition, management specifically meets with the audit, compliance and risk committee to review the form 990 prior to filing.”

“The college monitors and enforces its conflict of interst policy through the use of an annual signed statement from trustees, administrative officers, department directors and chairpersons. By signing the conflict of interest disclosure statement, an individual certifies that they have reviewed the college's conflict of interest policy, acknowledged responsibility to place the interest of the college above personal interest in executing duties, and disclosed any possible personal, familial, and/or business relationships that reasonably could give rise to a conflict of interest involving gettysburg college. Completion of the form is also acknowledgement that individuals have a responsibility under the policy to advise the board of any significant changes. Trustees, administrative officers, or directors who have a conflict of interest in a proposed transaction are required to refrain from participating in consideration of the transaction. Additional restrictions on transactions between the college and (i) a trustee, (ii) a family member of a trustee, (iii) member of the president's council, (iv) a family member of a member of the president's council, or (v) any organization with whom any of the foregoing persons have a business relationship (collectively a "disqualified party") exist. As a general policy, the college shall not transact business with a disqualified party, and no disqualified party shall solicit business from the college if it would create a potential conflict of interest. Certain exceptions apply as specified in the policy.”

“The executive compensation committee of the board of trustees (the ecc) is charged with the responsibility to regularly review and recommend to the board of trustees for approval adjustments to the compensation of the president. The ecc is further charged with the responsibility to be fully informed about and ratify the compensation status for each of the other officers, based on the recommendations of the president. To assist in the assessment of reasonableness for compensation adjustments for the president and other officers, the ecc periodically retains an independent compensation consultant to compile a compensation study which relies on market data relevant in scope and scale to operating responsibilities within the college. The compensation study, performance reviews and compensation plans are reviewed and endorsed during an ecc meeting. A summary of recommendations for the president's compensation is shared with the full board of trustees. Compensation decisions are reflected in salary letters and amendments to the president's employment agreement as necessary. Deliberations and decisions are formally documented in the minutes which are maintained for all ecc meetings.”

“Gettysburg college makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Part xi, line 9 - other changes in net assets: change in value of split interest agreements: $( 497,770) post retirement related changes: (1,288,719) change in surrender value of life insurance: 26,362 change in net assets of related entities: (1,122,222) disregarded entity: (214,782) _____________ total part xi, line 9 $(3,097,131)”