Colonial Williamsburg Foundation

“Form 990 is prepared by the Foundation's finance staff with assistance from other members of management as needed to ensure completeness and accuracy. The entire form and all schedules are reviewed during preparation and after completion by the Controller, followed by higher-level reviews by the Vice President for Finance and the President. Prior to filing with the IRS, a copy of the Foundation's final Form 990 (including required schedules) is provided in paper or electronic format to each member of the Board of Trustees.”

“Trustees receive and sign a conflict of interest disclosure form annually. Any conflicts that might arise during a member's Board tenure are disclosed to and addressed by the Board. Additionally, any trustee with a conflict in connection with any matter before the Board is required to disclose the conflict and is not permitted to take part in any vote with respect to the matter. Members of management receive a copy of the Foundation's conflict on interest policy and sign a disclosure form annually. The Foundation's General Counsel reviews management's annual conflict on interest disclosure forms to assure that compensating controls are put in place to mitigate or eliminate any identified conflict.”

“Compensation of the CEO and other officers of the organization is determined by the Human Resources Committee of the Board of Trustees. In its review and approval process for 2015, the members of the Human Resources Committee considered the report of an independent compensation consulting firm that was retained to compare the compensation of the CEO and other officers with that of incumbents in similar positions at comparable organizations. The compensation consulting firm produced a detailed report based on its review of data from compensation surveys, including one specific to not-for-profit organizations that include data from organizations similar to Colonial Williamsburg in mission and size. The review and approval process of the Human Resouces Committee is documented in the minutes of the Committee's meeting.”

“In compliance with federal and state disclosure requirements.”

“Client Note 1 - Charitable Contributions Carryforward Schedule:2010 Charitable Contributions Expiring 12/31/15 $387,8152011 Charitable Contributions Expiring 12/31/16 371,8212012 Charitable Contributions Expiring 12/31/17 431,9292013 Charitable Contributions Expiring 12/31/18 377,9592014 Charitable Contributions Expiring 12/31/19 408,1682015 Charitable Contributions Expiring 12/31/20 81,730 2,059,4212010 Charitable Contributions Expiring 12/31/15 (387,815)Amount Available for Carryforward at 12/31/15 1,671,606”

“Client Note 2 - Line 12: Other IncomeProduction Truck Net Rental Income $2,800Labor (1,300)Net Production Truck Rental Income 1,500”

“OTHER PROGRAM SERVICES 4: Collections, Conservation & Museums-Colonial Williamsburg's wide-ranging collections, acquired over the past 85 years, provide the art, objects and artifacts necessary to accurately recreate the environment of 18th-century Williamsburg. The archaeological and architectural collection include 500,000 whole archaeological artifacts from excavations in and around Williamsburg as well as 20 million fragments (probably the largest single archaeological holding relating to 18th-century America), and more than 15,000 architectural fragments. See Federal Supplemental Information for further detail. OTHER PROGRAM SERVICES 5: Education-Colonial Williamsburgs Institute for Teacher Professional Development presents stories of American history and citizenship through online and on-site programming and the distribution of media to general public and K-16 education audiences. The Colonial Williamsburg Education Resource Library provides interactive history lessons to elementary, middle, and high school classrooms nationally and internationally. This free online media library supports planning and classroom instruction through age-appropriate cross-curricular materials, activities, and lessons. The Resource Library has over 200 resources covering American history from 1607 through the Civil War, with more resources added monthly. See Federal Supplemental Information for further detail.”

“Client Note 4 - Line 4: Average Acquisition Debt Principal Balance 1/1/2015 12/31/2015 AverageBrooks Prop 7,569 3,762 5,666 College Corner 6,904,186 6,904,186 6,904,186 Vehicle Maint 3,897,472 3,897,472 3,897,472 Leased Prop 154,099,753 154,099,753 154,099,753 Tax Credit 35,248,946 35,248,946 35,248,946 Line 5: Average Adjusted Basis Principal Balance 1/1/2015 12/31/205 AverageBrooks Prop 0 0 0College Corner 4,691,401 4,526,298 4,608,849 Vehicle Maint 2,771,320 2,614,129 2,692,725 Leased Prop 93,400,886 90,496,696 91,948,791 Tax Credit 25,563,883 24,686,348 25,125,116”

“Change in value of Split Interest Agreements = -$1951235”

“Eliminate ASC 740 Adjustment = -$2654601”