Hood College

“A public disclosure copy of the 990 will be presented to the board of directors to review before filing.”

“All board members are required to exercise the utmost good faith in all transactions and matters concerning their duties to the college and its property. In all dealings with and/or on behalf of the college, all board members shall be held to a strict rule of honest and fair dealing. They shall not use their position, nor use or disclose knowledge gained therefrom, in any way that might give rise to a conflict between the interests of the college and their own. They shall not, at any time, act in a manner that is contrary to the interests of the college. Each member of the board shall execute and submit on an annual basis during her/his term of service a disclosure of interest statement in the form provided by the chairperson of the board of trustees. The chairperson of the board, in conjunction with the management of the college, monitors the submission of these forms on an annual basis. If the board is considering a matter in which a previously known or unanticipated conflict of interest or possible conflict of interest develops, the interested board member shall promptly report the conflict to the attention of the other trustees who are participating in, or voting on, the matter. While the person with the conflict may respond to questions posed by other board members, the individual shall abstain from participation in the discussion and shall not vote in the decision or otherwise attempt to influence the vote. Minutes of the meeting shall reflect that a disclosure was made and that the individual with the conflict abstained from any participation in the matter.”

“Per the bylaws, the executive/compensation committee of the board of trustees has the authority to set the president's salary. Decisions regarding the president's salary are documented contemporaneously in the minutes of the executive/compensation committee and board of trustees. Comparability data is used to aid in the determination of hiring salaries as well as ongoing adjustments. Salary reviews and adjustments for all employees, excluding the president, are performed periodically by supervisors. Recommendations are reviewed by the director of human resources, the budget director, and the divisional vice president. Salary adjustments are approved by the vice president for finance & treasurer or the president. The most recent salary review and increases for staff and faculty occurred on july 1, 2023. The president's salary was last reviewed in january of 2023.”

“Hood college maintains a copy of its governing documents, conflict of interest policies and financial statements which are available to the public upon request for the same period of disclosure as set forth in section 6104(d).”

“Miscellaneous: program service expenses 6,670,208. Management and general expenses 4,041,007. Fundraising expenses 264,381. Total expenses 10,975,596.”

“Change in value of split-interest agreements 843,050. Change in value of interest-rate swap agreements 479,981.”

“The oversight and selection process has not changed from the prior tax year.”