Rollins College

“Executive Committee:(a) The Board of Trustees exercises its responsibility for the overall supervision ofthe College between meetings of the Board through its Executive Committee. TheChairman of the Board is a member of the Executive Committee and Chairman thereof.The President of the College and the Vice Chairman of the Board are members of theExecutive Committee. The Secretary of the College is the Secretary of the ExecutiveCommittee and keeps a full record of all of its transactions and proceedings. TheExecutive Committee performs such further functions as shall be specificallydelegated or authorized by the Board of Trustees at a regular or specialmeeting.(b) The Executive Committee will:(1) Review regularly the functions and operations of theCollege;(2) Review and approve recommendations by the President of the College with respect to the functions and operations of the College;(3) Carry out the functions of the Board of Trustees between meetings of the Board.”

“Description of Form 990 review process:A review of the Form 990 excluding Schedule B is conducted by the President, CFO/VPTreasurer, AVP for Finance & Assistant Treasurer, and the Board of Trustees.Actionable questions or comments are addressed and resolved before the Form 990 isfiled.”

“Description of Conflict of Interest monitoring and enforcement:During the spring of each year the College canvasses all Trustees, who are asked tocomplete a Conflict of Interest disclosure form noting any membership(s) infor-profit boards and any not-for-profit boards. Additionally, they are asked toindicate whether they hold a 5% or greater ownership interest in theseorganizations. All College Officers, Directors, and Key Employees are also requiredto complete a Conflict of Interest disclosure form. Each College staff person asidentified above, also signs a statement confirming whether or not a conflictexists. A summary document (spreadsheet) is prepared by the President's Office thatincludes all Trustees and Officers of the College. This document is presented toand reviewed in detail by the Audit Committee, usually at the May meeting each year.”

“Description of process of determining compensation of Officers and Key Employees[other than President]:Rollins College has a Compensation Committee chartered by the Board of Trustees. Inaddition to compensation areas related to the President, the Compensation Committeeis also charged with reviewing a summary of the President's evaluation of the VicePresidents, and reviewing and approving the President's recommendation for allelements of the compensation for the Vice Presidents. As to officers and keyemployees of the College below the level of Vice President, the compensation levelis determined by the immediate supervisor and/or the head of the department, whichis typically a Vice President or Dean of the College. In any case where thecompensation approver is not a Dean or Vice President, at least two approvals of theimmediate supervising manager and his or her manager at the next higher level isrequired.”

“Description of published documents:Rollins College publishes its Conflict of Interest Policy on its website, which isavailable to the general public. The College also publishes its audited financialstatements and Form 990 online. The College's bylaws are not published or madeavailable to the general public.”

“Change in FMV on swap agreement = -$336782”

“Change in pledge receivable = $4191”

“Change in value of pledges receivable = -$0”

“Change in value of split interest agreements = -$0”

“Change in Value of Split Interest Agreements = $61141”

“Investment mgmt fees to Part IX, Line 11f = -$826651”