Wilson College

“The college outsourced its physical plant, food services, campus safety, and conferences.”

“The form 990 was reviewed first by the president and cabinet (management review). Pursuant to the board's delegation of authority, the form 990 was submitted to the audit committee for review and approval. Following the audit committee's review and approval, the form 990 was provided to each trustee prior to filing.”

“The wilson college conflict of interest policy protects the interests of the college in connection with any transaction or arrangement that might benefit the private interests of any covered person. A "covered person" includes each of the colleges trustees, officers, members of any committee of the college's board of trustees with authority to act on behalf of the trustees, and the college's executive employees and any other manager or supervisor identified by the board of trustees or the president as exercising substantial influence over the operations of the college. Each covered person is required to sign a statement that affirms that they read, understand, and agree to comply with the policy. They are also required to submit, on an annual basis, a questionnaire disclosing their actual and potential conflicts of interest. Potential conflicts of interest identified through the review of the questionnaire by the secretary or vice president, or other potential conflicts of interest arising during consideration of a transaction or arrangement are reported to the board's audit committee. The audit committee will evaluate the disclosures and the material facts and determine whether there is a conflict of interest. The audit committee may refer the matter to the board for such a determination. If it is determined that no conflict of interest exists, the covered person may participate fully in the discussion of and vote on the proposed transaction or arrangement.”

“A separate compensation committee of the board of trustees reviews current salary, evaluation results for the president, and data from the following sources: salaries of peer and aspirant colleges; forms 990 from other institutions; guidestar information; and relevant salary surveys, including but not limited to, the association of independent colleges and universities of pennsylvania (aicup) and the college and university professional association (cupa), to ensure that compensation does not exceed fair market value. The recommendation of the compensation committee (in executive session) and the entire board votes on the compensation recommendation. This is documented via committee minutes. Compensation for other officers and key employees is based on market survey information and authorized/approved by the president. The compensation is ultimately approved by the board of trustees as part of the annual budget process.”

“Governing documents, conflict of interest policy, and financial statements in the form of the 990 and 990-t are available upon request.”

“Change in beneficial interest in perpetual trust - 113,654. Change in fair value of interest rate swap - 1,168,894.”

“The process has not changed from the prior year.”