Pomona College

“The informational return is prepared by an outside accounting firm and is initially reviewed by the asst vice president/assoc treasurer. After preliminary review by the asst vice president/assoc treasurer, the return is reviewed at the audit committee meeting. The return is then provided to the full board for review prior to electronic filing.”

“The board of trustees ("the board") of pomona college has incorporated its code of conduct and conflict of interest policies into its bylaws. The audit committee ("the committee") of the board monitors enforcement of and compliance with the code and the policies, and reports the results thereof to the board. The committee monitors compliance by means of an annual code of conduct questionnaire. In may, the college distributes the questionnaire to all trustees, officers, faculty program coordinators and department chairs and staff at the director level and above. The president's office collects the completed questionnaires and compiles the results, including identifying negative responses and accompanying explanations. In october, an executive summary of the results are provided to the committee, and the committee reports those results to the board. However, throughout the annual questionnaire distribution, collection and compilation process, any urgent and heretofore unknown matters identified by questionnaire respondents are escalated immediately to the appropriate members of the board and management.”

“The college has implemented procedures to fairly compensate employees of the college and provide an appropriate process for setting and approving reasonable levels of compensation for individuals who are in a position to exercise substantial influence over the affairs of the college, such as the president, vp chief information officer, treasurer, dean of faculty, dean of students, vp dean of admissions, vp advancement, assistant vp facilites/campus services, assistant vp/assoc treasurer and professors considered as key employees. These procedures provide for review and approval by the executive committee consisting of independent trustees, use of comparability data, and contemporaneous substantiation of the deliberation and decision. The executive committee of the board, acting as the compensation committee, utilizes benchmark salary data from comparable higher education institution groups for executive management positions. The initial process in determining compensation levels consists of gathering compensation data of peer group institutions, which is available from subscribed survey data sources. The salary medians of the comparable education institution groups will inform the committee and be used as guides. The committee will also review salary in relation to local and national inflation measures, individual performance, as evidenced by the annual written performance evaluations, and the individual's length of service in the position. Salary increase recommendations are approved by this committee during the may board of trustees regular meeting. The minutes include the terms of the transactions and the date approved, the members of the committee present for the deliberations and who voted, and the description of the comparability data obtained and how it was obtained. This process was last undertaken and completed for all executive positions in may 2024.”

“The policy of pomona college is to make its governing documents, including the articles of incorporation and bylaws, and financial statements available to the public when requested.”

“Changes in actuarially determined gift liabilities 12,389,139. Annuity and life income funds released -4,687,552.”