The College of Wooster

“The college filed its form 1023 before july 15, 1987 and does not have a copy of this filing as of the filing of this return. Under the regulations of the internal revenue code, the college is not required to make its form 1023 available for public inspection. Form 990 and 990t from the most recent three years are available upon request in accordance with irc section 6104(d).”

“The board of trustees has delegated the responsibility and authority for review of the form 990 to the audit & risk committee. The audit & risk committee, with the assistance of the independent public accounting firm, reviews and approves the form 990 before submission to the irs. A full copy of the 990 is provided to all trustees prior to filing the form with the irs.”

“The college respects the right of its trustees, officers, faculty and staff members to engage in outside business, financial, service, and/or other activities, recognizing that conflicts of interest do arise from time to time, and that these conflicts: 1. May result from the individual's relationships with outside organizations, persons, or causes reflecting the person's prominence, reputation, and influence, and 2. Need not be harmful, and, indeed may be favorable, to the college's interests, as long as they are disclosed and understood in the college's decision-making processes. Such real or apparent conflicts are not considered detrimental if: 1. They are fully disclosed to the appropriate designated senior staff member or the audit & risk committee of the board. 2. Their nature is known and understood by the individual's immediate supervisor and the appropriate senior staff member for faculty and staff employees, and the audit & risk committee of the board of trustees for senior staff members, the president, and trustees; 3. Disclosure is made at the earliest practical time; 4. The commitment of time to these activities does not interfere with the individual's duties; 5. The trustee or employee refrains from participating in college matters related to such activities; and 6. The trustee or employee always acts in a manner that fosters the objectives of the college's core mission to provide the best possible educational experience for wooster's students, to provide the proper environment for faculty to teach, and to responsibly steward the college's financial, human, and physical resources. Conflict of interest questionnaires are completed annually by all trustees and each officer, senior staff, faculty, and staff member who is currently serving the college and who has authority to requisition, purchase, or contract for materials or services for the college, or has had responsibility for approving the same. The chair of the audit & risk committee reviews all questionnaires on an annual basis. The conflict of interest policy is reviewed bi-annually by the board of trustees. The audit & risk committee of the board of trustees reviews and approves all substantial, actual or potential conflicting activities of the president and senior staff members. Senior staff members review and approve all substantial actual or potential conflicting activities of faculty and staff members. When there is a doubt as to whether a conflict of interest exists, the matter shall be resolved by the provost's office for faculty, the appropriate vice president for staff employees, and by the audit & risk committee for senior staff members, the president, and trustees.”

“The compensation committee of the board of trustees reviews surveys conducted by the great lakes colleges association (glca) and joint payroll surveys conducted by the glca and associated colleges of the midwest (acm). Compensation arrangements for the president are reviewed and approved by independent members of the executive committee. The president's compensation is determined based on reference to the salary surveys and the president's job performance. These recommendations are presented to the full executive committee of the board for discussion and approval. Compensation decisions made by the compensation committee affecting the president are reported to the full board of trustees.”

“The compensation committee of the board of trustees reviews surveys conducted by the great lakes colleges association (glca) and joint payroll surveys conducted by the glca and associated colleges of the midwest (acm). Recommended compensation arrangements for senior officers and staff are developed by the president in consultation with the chairman of the board and are based on the above mentioned salary surveys, job performance, and experience in the position. These recommendations are presented to the full executive committee of the board for discussion and approval. Compensation decisions made by the compensation committee affecting senior officers are reported to the full board of trustees.”

“THE COLLEGE POSTS ITS AUDITED FINANCIAL STATEMENTS ON THE COLLEGE WEB SITE (WWW.WOOSTER.EDU). FORM 990 AND 990-T ARE AVAILABLE UPON REQUEST FOR THE PAST THREE YEARS IN ACCORDANCE WITH IRC Section 6104(D). THE COLLEGE ALSO MAKES ITS GOVERNING DOCUMENTS AND CONFILICT OF INTEREST POLICY AVAILABLE UPON REQUEST.”

“All Other - Total Revenue: 979447, Related or Exempt Function Revenue: 979447, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“(Expenses $ 13,008,964 including grants of $ 314,566)(Revenue $ 2,136,671) OTHER PROGRAM SERVICES: RESEARCH PROGRAMS, PUBLIC & ACADEMIC SUPPORT”

“Change in value of split interest agreements - -38395; change in value of trusts held by others - 726289; postretirement liability related changes - 235850; asset retirement obligation - 319645;”

“the organization had transfers to foreign corporations in the current fiscal year which met the thresholds for filing forms 926. Forms 926 are attached to this return as required. The organization had investments in foreign corporations but did not meet the threshold for filing form 5471. Some of these foreign corporations may be Passive Foreign Investment Corporations. The organization is not required to file Forms 8621 as the distributions were not categorized as unrelated business income. The organization had investments in foreign partnerships but did not meet thresholds for filing Forms 8865.”