Trustees for Harvard University

“The governing board of trustees for harvard university is comprised of the same individuals as the governing board of the president and fellows of harvard college. Certain officers, trustees, and key employees of trustees for harvard university are employed by president and fellows of harvard college, including president bacow, secretary goodheart, trustee mills, and key employee nagy. Key employee ziolkowski has a faculty appointment at the president and fellows of harvard college.”

“Trustees is subject to the same policies and procedures as the president and fellows of harvard college for determining and reviewing compensation of its officers. The president and fellows of harvard college has disclosed in its form 990 the process undertaken to determine compensation. Officers are not compensated in their capacity as officers of trustees for harvard university. Certain officers of the filing organization also serve as officers of the president and fellows of harvard college and are compensated by president and fellows of harvard college for services performed for that organization. Each key employee of trustees is also a harvard university faculty member within the faculty of arts and sciences and the process for determining compensation is described below: the salaries of the key employees are set annually by the divisional dean and approved by the dean of the faculty of arts and sciences (fas). The process follows that in place for all fas faculty members. The amount is set on a standard 9-month basis, and does not include any direct recognition of director duties. In recognition of their respective roles, each key employee is provided with a supplemental compensation amount which is included in the figures reported on part vii and schedule j. In addition, both individuals are eligible to earn salary during the summer months, provided they have external funding.”

“Certain actions of the trustees governing body, such as the election of new directors and amendments to the corporate statutes, are subject to the consent of harvard university's board of overseers.”

“The trustees for harvard university form 990 was reviewed by the university's tax return review committees, comprising senior finance staff and internal and external counsel. The form 990 was also reviewed by the university's joint committee on inspection, consisting of members of the harvard corporation and the board of overseers. The final form 990 was provided to the entire board of the filing organization before it was filed.”

“Trustees is subject to the same conflict of interest policies and procedures as the president and fellows of harvard college. Annually, harvard university's office of the general counsel distributes a policy on conflicts of interest and commitment for senior officers and senior administrators, and an annual disclosure form, to the individuals subject to the policy. The completed forms are reviewed by the office of the general counsel. A parallel process is carried out annually by the office of the governing boards for the university's corporate directors, who are the same individuals that serve on the governing board for the filing organization. The completed forms of directors are reviewed by both the office of the general counsel and the secretary of the university.”

“Trustees for harvard university's financial statements are incorporated in harvard university's consolidated financial statements, which are available on harvard university's website. Harvard university's conflict of interest policy is available on harvard's intranet, accessible to members of the harvard community. Trustees' charter is available upon request.”

“The university does not track hours worked by trustees, officers, key employees or highest compensated employees. The average hours worked reported on part vii, line 1a, column (b) are estimates, with 60 hours per week representing full time employment. Actual hours worked per week may vary. The hours per week devoted to related organizations represents an estimate of time the individual spends in his/her capacity as a member of the board of directors and/or as an employee of harvard affiliates.”

“Drew faust was president until 6/30/2018 and then began her new role as university professor at harvard university.”

“Transfers to affiliated org - -10445398;”

“Harvard university's financial statements include the activities of certain subsidiaries that file separate tax returns, including trustees for harvard university. The financial statements for the fiscal year ended june 30, 2020 were audited by an independent accountant.”