Randolph-Macon College

“Process for reviewing 990: the treasurer, controller and president consult to determine that a draft of the 990 form is accurate to the best of their knowledge. The draft is then made available to all members of the board of trustees (bot) electronically. Corrections, comments and suggestions from all members are compiled and, as appropriate, incorporated into the return, and, by charter manadate, the audit committee of the bot reviews the draft before final filing.”

“Annually each fall the assistant secretary to the board of trustees distributes the conflict of interest disclosure statements to the trustees and to covered employees. He is responsible for ensuring that all distributed statements are completed and returned and reviewed for potential conflicts. The vice president for finance and administration reports the results of the questionnaires to the audit committee of the board. The audit committee reports conflicts to the full board for appropriate resolution.”

“Line 15a: a committee appointed by the chair of the board of trustees, chaired by a member of the board of trustees, and consisting in majority of trustees, worked with and was advised by a professional search consultant to select and hire a new president of the college whose contract was negotiated in 2005. Annually thereafter, the president's performance was evaluated and his compensation reviewed by a special committee of trustees appointed for that express purpose by the chair of the board of trustees. Their deliberations included review of data from the 990s of other institutions and of surveys on presidential compensation available through multiple sources. In early 2013, during negotiations for a new contract, this compensation committee deliberated terms for the college, referencing multiple comparable presidential salary surveys with assistance from attorneys familiar with executive contracts and from a college and university presidential search consultant familiar with contracts and compensation. The president was represented by independent counsel, and negotiations culminated in a contract ratified by the board of trustees in 2013.”

“UPON REQUEST”

“UPON REQUEST”

“Change in value of interest rate swap 34,829.”

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

“Advertising and promotion expenses include, but are not limited to, the printing and publication of materials to make potential students aware of the college's programs and opportunities. This line also includes the expenses of publicizing events and activities sponsored by alumni relations, office of advancement, athletics and other departments on campus to students, faculty, staff, alumni and the general public.”

“At randolph-macon the maturation and testing of the skills, values, and character required for a lifetime of challenges extends beyond the classroom. Students are encouraged to meet with faculty both socially and intellectually, and they have the opportunity to participate in a variety of extra-curricular activities. Interaction within the college community is assured by residential environment and an enrollment of approximately thirteen hundred. Located in ashland, virginia randolph-macon college offers a curriculum and a cultural life enriched by the close proximity of metropolitan richmond and washington, d.c. A randolph-macon education conveys a sense of life defined by historical continuity and ethical responsibility. Founded by methodists in 1830, randolph-macon is an independent college that retains a relationship with the united methodist church. Through this living tie the college draws strength from a religious tradition that nurtures creative social change and personal accountability. Randolph-macon believes that a liberal arts education challenges the intellect, imagination, and character. Graduates of the college have the capacity to realize their potential as professionals, leaders, and lifelong learners. The comprehensive nature of a liberal arts education at randolph-macon college prepares students to respond to the changing career opportunities and to meet life's challenges with confidence, enthusiasm, and ethical awareness.”