Randolph College Inc

“The form 990 was reviewed by the controller, director of finance and budget and v.p. For finance and administration. Also, the form 990 was provided to the college's board of trustees for its review and questions at the may 2015 board meeting. In consideration of the privacy of our donors, schedule b, "schedule of contributors" was omitted from the 990 copies which were provided to the governing body for review.”

“Board members, officers, all senior staff members, the director of finance and budget, and the controller review, complete, and sign conflict of interest forms annually. The secretary of the board maintains these documents. Voting members of the board recuse themselves from a vote if a potential conflict of interest exists in a matter. If there is a question about the existence of a conflict of interest, the bylaws (article 1, section 8d) provide standards and procedures for resolving the matter.”

“Process for determining compensation of officers/key employees: for all members of the college's senior staff and the president's direct reports, the director of human resources provides comparative compensation data from the college and university professional association (cupa) to the president. The president shares this information with the chair of the board of trustees and the compensation committee, as needed. This information is reviewed during the performance assessment process to determine such employee's compensation. The college's board of trustees (the "board") hired mercer human resources consulting ("mercer") in 2007 to assist in determining the reasonableness of the initial compensation for the college president. Using appropriate peer group and comparative market data, mercer issued an opinion affirming the reasonableness of the compensation package. The analysis was comprehensive, utilizing many sources, including the form 990 of other institutions. During the spring of 2009, the chair of the board appointed an ad hoc compensation committee, comprising four board members, including the chair of the board. This committee recommends any compensation adjustments for the president to the executive committee of the board and the rationale therein, and any such compensation adjustments are then approved by the full board. The college has now amended its bylaws to add the compensation committee as a permanent standing committee of the board. The board again hired mercer in 2013 to assist in determining the reasonableness of the compensation for the college's new president. The president also has a written employment contract which includes the necessary compensation provisions.”

“The college is a private institution and does not regularly make its governing documents available to the public.”

“Gain on sale of securities and proceeds received for sale of artwork - detail available upon request.”

“Since its founding in 1891 as randolph-macon woman's college, randolph college has offered students a rigorous education in the liberal arts and sciences. In keeping with its motto, vita abundantior, randolph college prepares students to engage the world critically and creatively, live and work honorably, and experience life abundantly. Randolph college encourages each student to set and meet high personal goals. Campus life is grounded in the honor system, which fosters individual integrity and mutual trust. As students from diverse backgrounds study and live together, they are expected to respect the rights and dignity of others, to be open to cultural differences, and to exercise personal and social responsibility. They are encouraged to develop confidence and to participate fully in a community in which women and men work together and treat one another as equals. Through excellence in teaching, advising, and scholarship, the faculty provides the challenges requisite to the intellectual development of each student. With faculty support, the undergraduate students design individualized and coherent programs of study that combine academic and co-curricular components. While each student's educational plan is unique, all programs of study foster these capacities: to think critically; to write and speak with clarity and accuracy; to employ quantitative reasoning; to use technology effectively and ethically; to cultivate an aesthetic sensibility; to understand key dimensions of the heritage of more than one society; to approach problems with creativity and imagination; to work both independently and collaboratively; and to recognize the power and limitations of knowledge. The graduate students pursue more narrowly focused programs of rigorous study designed to add specialized knowledge to their undergraduate education. The graduate programs are directed by faculty members who are especially knowledgeable about the professional standards to be met by those who earn advanced degrees. Through their experiences at randolph college, students are challenged to think ambitiously and to prepare thoughtfully for their futures in a diverse society and an increasingly complex world that offers them expanding opportunities for leadership, responsibility, and service.”

“The college did not receive contributions of qualified intellectual property during the tax year. Therefore, there was no form 8899 required. Additionally, the college did not receive any contribution of property that would require the college to file form 1098-c.”

“"all other expenses" consists solely of academic support, in the amount of $2,798,552.”

“Loss on asset retirement obligation -83,896. Loss on disposal of land, buildings, and equipment -83,661. Change in interest rate swap liability -97,030. Series 2003 bond refinancing costs -284,918.”