Georgetown College

“Trustee jamie hargrove provides legal services to trustee robert coleman. Trustee reza hashampour and trustee nicolle collinson have a joint business opportunity.”

“The college forwards a pdf file to the trustees on the executive/finance committee after the return is filed in may. In the executive/finance committee's next regularly scheduled meeting, the college will answer any questions from the executive/finance committee.”

“All senior managers are very conscious of any arrangements that may give rise to a conflict of interest, especially related to doing any business with a trustee. Senior managers report any potential transactions to the cfo, who is a cpa. Annually, the conflict of interest and excess benefit policies are distributed to trustees. The trustees annually disclose all potential conflicts of interest, business transactions with the college, and any ownership interests which might give rise to a conflict. The trustees and officers of the college respond directly and individually to the questions on part iv, question 28 (a) through (c) of this return.”

“The college's compensation committee, composed of the trustees that serve on the board of trustee's executive/finance committee reviews the present salary and approves the budgeted salary for next year for the employees with the top five salaries at the college. This review includes a comparison of data from recognized salary surveys for similar positions in the region. The compensation committee also reviews the salary of similar positions in peer institutions in kentucky by reference to their latest available tax returns.”

“The college does not make its financial statements public, other than in response to a donor's request or a grant application. The college's budget is available in the ensor learning resource center. The college's conflict of interest policy is part of the college's policies and procedures, which is available on the college's website. Governing documents are filed with the kentucky secretary of state. The college's fiscal policies are available to all board members; the financial statements and audit reports are given to all trustees each year in its october meeting. Trustees are required to read the conflict of interest policy of the college and complete the form indicating whether or not they have a conflict.”

“Between board meetings, the executive committee is empowered to act on behalf of the board. The minutes of all executive committee meetings are distributed to the full board at each regularly scheduled meeting of the board of trustees.”

“The college entered into an llc in which it is a 95% owner; the other owner is an individual. Except for a cash capital contribution of $950, the college contributed no assets to the llc. The legal structure and tax status of the college and the llc was reviewed by the general counsel.schedule k-1s are made available to the partners and any income is reported on the 990-t of the college. The college has no written policy on joint ventures since this was the only one it has done.”

“Change in fmv of swap agreement 298,620. Adjustment for actuarial liability for annuities and life income funds -44,057. Change in useful lives of fixed assets -569,632. Writedown of post-retirement health care plan obligation 1,543,566.”

“The college's executive/finance committee of the board of trustees assumes responsibility for the oversight of the audit of the financial statements and the selection of the independent accountant.”

“For a historic perspective over the last five years, the college has been and continues to be recognized nationally for its diversity initiatives. Articles about the college's efforts to recruit minority students have appeared in the new york times, dallas morning news and the louisville courier-journal newspapers. The congressional black caucus honored the college's initiatives with a reception at the united states capital building. President william h. Crouch, jr. Has served on two occasions as a panel member and moderator at the world diversity leadership summit at the united nations headquarters in new york; speaks frequently to primarily african american congregations at churches like antioch baptist, memphis, tn, sixth avenue baptist, birmingham, al, and allen temple baptist, oakland, ca; has spoken at diversity issues at educational institutions such as duke university: and was guest speaker at a diversity symposium in nashville, tn, to name but a few examples of diversity outreach. Because of its efforts to diversify its student body, in particular, and its employees, the college was recently invited into membership of the southern university conference. In february 2012, the college was recognized for its diversity efforts by the selective corporate internship program. Memberships in and affiliations with groups (upward bound, nshss, the first tee, zinch) that promote college access have helped the college increase enrollment of diverse population from 11% in 2011 to 16% in 2014.”