Davidson College

“Davidson college's ("davidson") management and independent accountant prepared the current year tax return and this was reviewed prior to filing by davidson's management and chair of audit and finance committee. A copy of the form 990 was provided electronically to davidson's board of trustees prior to filing.”

“To comply with its ethics policy, davidson college requires all of its trustees to complete an "annual statement of disclosure and compliance" that is contained within the policy statement. In order to ensure compliance with this requirement, the college follows the following procedures: 1. On an annual basis, the president makes an announcement to the board of trustees that the "annual statement of disclosure and compliance" must be completed. 2. The forms are distributed at a meeting of the board of trustees and time is provided to allow trustees to complete the forms. 3. For trustees who are not present at the meeting or do not complete their form, the administrative coordinator in the president's office sends electronic copies to those trustees with a reminder that such forms must be completed. 4. The administrative coordinator sends several reminders to the trustees until the forms are completed.”

“Davidson college ("davidson") does not have a separate compensation committee, but the board of trustees executive committee assumed the role of a compensation committee. President/ceo's compensation 1. Annually the president establishes performance goals in consultation with the executive committee and the board of trustees. 2. Annually the president reviews the progress on those goals with the executive committee which documents a performance review with the president. 3. Annually, the director of human resources performs a comparative review of the president's compensation against davidson's peer institutions and uses an independent third party consultant to perform a review of the president's compensation. 4. Periodically and in certain cases (i.e. The arrival of a new president), an outside compensation consultant may advise the executive committee on presidential compensation. 5. Based on the above, the executive committee establishes the president's compensation for the following year. 6. The executive committee documents the reasons for establishing the new compensation amount. 7. The executive committee then renews the president's employment for an additional year at the new compensation level. Principal executive staff ("pes") reporting directly to the president 1. The executive committee authorizes the president to make compensation decisions for all other college staff. 2. Annually, each pes member establishes performance goals with the president. 3. Annually, each pes member reviews their progress on those goals with the president culminating in a written performance evaluation. The performance evaluation serves as the contemporaneous documentation of the review. 4. Annually, the director of hr performs a comparative review of the ops member's compensation against davidson's peer institutions and uses an independent third party consultant to perform a review of the pes compensation. 5. Periodically and in certain cases (i.e. Hiring a new pes member), an outside compensation consultant may be used. 6. Based on the above, the president establishes each pes member's compensation for the following year.”

“Davidson college's governing documents (articles of incorporation and any subsequent amendments) are available to the public on the north carolina secretary of state website. All relevant governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“Athletics and physical education provided as part of a well rounded liberal arts education. The athletics program includes intercollegiate teams, club sports and intramural competition.”

“Davidson college ("davidson") invests in partnerships that may be construed to be joint ventures. Davidson has enacted adequate safeguards for its partnership investments to ensure that these activities do not jeopardize the organization's exempt status.”

“Change in value of split interest agreements (544,304) ------------ total (544,304)”

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