2020-07-07T16:25:16-05:00 2019-06-30 273858252 DEAN DORTON ALLEN FORD PLLC 250 W MAIN STR STE 1400 LEXINGTON KY 40507 990 2018-07-01 610444695 GEORGETOWN COLLEGE GEOR 5028638016 400 EAST COLLEGE STREET GEORGETOWN KY 40324 DAVID WILHITE CFO 5028638016 2020-07-07 1 ALLISON C CARTER P01242412 8592552341 192.243.74.12 2020-07-07 10:26:27 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 FD7354DB22FB8D2AC589089E7FCD97818B14017D 2018 2021-01-29 14:40:06Z DAVID WILHITE 400 EAST COLLEGE STREET GEORGETOWN KY 40324 85145164 0 X WWW.GEORGETOWNCOLLEGE.EDU X 1829 KY GEORGETOWN COLLEGE IS A FULLY ACCREDITED LIBERAL ARTS INSTITUTION OF HIGHER LEARNING 23 21 983 54 140610 0 5096843 3645296 38624323 37645338 323083 1640299 8074068 7873102 52118317 50804035 24273436 24901828 0 0 16110996 17034517 0 0 1067913 12779286 12289731 53163718 54226076 -1045401 -3422041 87318560 86292363 41346143 43211834 45972417 43080529 X GEORGETOWN COLLEGE IS A FULLY ACCREDITED LIBERAL ARTS INSTITUTION OF HIGHER LEARNING LOCATED IN GEORGETOWN, KENTUCKY. THE COLLEGE IS COMMITTED TO PROVIDING OPPORTUNITIES FOR EXCELLENCE IN HIGHER LEARNING UNDER CHRISTIAN INFLUENCES SO AS TO AFFORD ITS STUDENTS A QUALITY EDUCATION IN SELECTED BRANCHES OF KNOWLEDGE, ESPECIALLY THE LIBERAL ARTS AND SCIENCES, WITH A HEALTHY INTEREST IN THE PROFESSIONS. 0 0 44263166 24901828 43135860 OPERATION OF A HIGHER EDUCATIONAL INSTITUTION PROVIDING EDUCATION, HOUSING, AND FOOD SERVICES TO STUDENTS AND FACULTY. THE COLLEGE EDUCATED 1,046 UNDERGRADUATE AND 812 GRADUATE STUDENTS FOR THE YEAR ENDED 6/30/19. 44263166 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 0 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 1 1 0 0 0 1 2375 0 1 983 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 X 23 21 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 1 0 KY X X DAVID WILHITE 5028638016 400 EAST COLLEGE STREET GEORGETOWN KY 40324 EARL GOODE TRUSTEE 2.00 X 0 0 0 FRANK PENN TRUSTEE 2.00 X 0 0 0 GUTHRIE TRUE TRUSTEE 2.00 X 0 0 0 JOHN WARD TRUSTEE 2.00 X 0 0 0 BOB MILLS TRUSTEE 2.00 X 0 0 0 SARAH WILSON TRUSTEE 2.00 X 0 0 0 BOB BAKER TRUSTEE 2.00 X 0 0 0 RANDY FIELDS TRUSTEE 2.00 X 0 0 0 BOB HEIB TRUSTEE 2.00 X 0 0 0 GRANETTA BLEVINS VICE-CHAIR, TRUSTEE 2.00 X 0 0 0 GREG BARR TRUSTEE 2.00 X 0 0 0 HOWARD ENSOR TRUSTEE 2.00 X 0 0 0 ROBERT DOTY TRUSTEE 2.00 X 0 0 0 DAVE ADKISSON TRUSTEE 2.00 X 0 0 0 TUCKER BALLINGER TRUSTEE 2.00 X 0 0 0 DAVID KNOX CHAIR, TRUSTEE 2.00 X 0 0 0 GUTHRIE ZARING TRUSTEE 2.00 X 0 0 0 MELANIE LADD TRUSTEE 2.00 X 0 0 0 JOHN BLACKBURN TRUSTEE 2.00 X 0 0 0 NORMAN BROWN TRUSTEE 2.00 X 0 0 0 HORACE HAMBRICK TRUSTEE 2.00 X 0 0 0 MIKE LUKEMIRE TRUSTEE 2.00 X 0 0 0 TIM JENKINS TRUSTEE 2.00 X 0 0 0 WILLIAM BI HOUSTON TRUSTEE 2.00 X 0 0 0 JAMES ALLISON ASSOC. VP COLLEGE RELATIONS 50.00 X 83208 0 4550 LAURA SUZANNE JOHNSON DEAN OF STUDENTS 50.00 X 37962 0 759 M DWAINE GREENE PRESIDENT 50.00 X 341135 0 8130 ROSEMARY ALLEN PROVOST/DEAN OF COLLEGE 50.00 X 103794 0 4603 ROBIN OLDHAM SECRETARY TO BOARD OF TRUSTEES 50.00 X 66758 0 994 BRIAN EVANS VP FOR DIVERSITY & INCLUSION 50.00 X 105617 0 4264 TODD RASBERRY VP FOR INSTITUTIONAL ADVANCEMENT 50.00 X 112239 0 3746 DAVID WILHITE CFO, TREASURER 50.00 X 121080 0 2418 JONATHAN SANDS WISE VP FOR ENROLLMENT MANAGEMENT 50.00 X 100804 0 5543 JOHN DAVIS - STARTED IN 2019 VP FOR INSTITUTIONAL ADVANCEMENT 50.00 X 13533 0 1213 CURTIS SANDBURG - STARTED IN 2019 DEAN OF STUDENTS 50.00 X 29688 0 1495 WILLIAM CRONIN HEAD FOOTBALL COACH 50.00 X 112320 0 5760 1228138 0 43475 7 0 1 0 SODEXO MANAGEMENT INC 1001 CHERRY BLOSSOM WAY GEORGETOWN KY 40324 DINING SERVICES 2567001 K-12 TEACHERS ALLIANCE 20624 ABBEY WOODS CT FRANKFORT IL 60423 RECRUITING STUDENTS 1031478 JENZABAR INC PO BOX 55018 BOSTON MA 02205 SOFTWARE SUPPORT 237945 MADE FROM SCRATCH INC PO BOX 1736 GEORGETOWN KY 40324 CATERING 200584 COURTNEY'S QUALITY PAINTING 101 NANTUCKET CT GEORGETOWN KY 40324 REPAIRS/PAINTING 143550 9 18265 1048715 2578316 187665 3645296 TUITION AND FEES 611710 37645338 37645338 37645338 1594941 1594941 195768 277092 -81324 -81324 -81324 31648719 9307 31604125 8543 44594 764 45358 45358 0 18265 10241 -10241 -10241 4693339 2441128 2252211 2252211 AUXILIARY ENTERPRISES REVENUE 611710 4786296 4786296 OTHER INSTITUTIONAL PROGRAMS 611710 265918 265918 CATERING/CONFERENCE CENTER 722320 198168 198168 462074 438308 23766 5712456 50804035 43135860 140610 3882269 24901828 24901828 1365226 1219296 145930 12777909 10519642 1756302 501965 2891382 2168562 637389 85431 39253 39253 90400 90400 373498 373498 934203 696565 204700 32938 588715 180124 239188 169403 713423 467352 246071 1172407 175889 996518 696716 666759 12192 17765 1277605 1277605 2060489 15194 2045295 346896 346896 ATHLETIC PROGRAMS 1131636 1131636 SUPPLIES 1118919 922481 116184 80254 CAMPUS EXPENSES 945500 944900 600 MAINTENANCE & GROUNDS 651457 651457 148614 1472234 -1357847 34227 54226076 44263166 8894997 1067913 745421 1137754 65300 70419 39991 154121 2066331 2076496 9119 4809 339062 233991 99135602 60495420 39669252 38640182 37342356 36396153 7041728 7578438 87318560 86292363 1806799 2863287 610185 419463 32980000 31920000 2274430 4276513 3674729 3732571 41346143 43211834 X -496606 -4440788 11919252 12569172 34549771 34952145 45972417 43080529 87318560 86292363 X -3422041 593301 -63148 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 592 592 0 PART II-B, LINE 1: THE COLLEGE PAYS DUES TO VARIOUS ASSOCIATIONS OF WHICH A PERCENTAGE OF THOSE DUES ARE USED FOR LOBBYING PURPOSES. DUES PAID TO THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES WERE $3,863 OF WHICH 7% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE KENTUCKY CHAMBER OF COMMERCE WERE $1,425 OF WHICH 15% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE KENTUCKY SOCIETY OF CPAS WERE $625 OF WHICH 10% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE SOCIETY FOR HUMAN RESOURCE MANAGEMENT WERE $209 OF WHICH 4% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE COMMERCE LEXINGTON WERE $748 OF WHICH 5% WAS USED FOR LOBBYING PURPOSES. 1146117 X X X X ART HISTORY AND STUDIO 0 34738699 252135 1537641 2777356 33751119 32909784 1073779 1567850 812714 34738699 30905168 364356 2428305 788045 32909784 31824859 304039 34168 1257898 30905168 33733926 262228 170806 2342101 31824859 0.00000 0.78460 0.21540 1 0 1362920 1362920 68907810 36034609 32873201 27088950 23894064 3194886 1775922 566747 1209175 38640182 FUNDS HELD IN TRUST BY OTHERS 7098438 OTHER ASSETS 480000 7578438 DEPOSITS AND AGENCY FUNDS 282569 ADVANCES FOR STUDENT LOANS 1048425 ASSET RETIREMENT OBLIGATION 1613997 ANNUITY PMT LIABILITY 787580 3732571 29213728 593301 2718220 3311521 25902207 24901828 24901828 50804035 32105616 2781368 2781368 29324248 24901828 24901828 54226076 PART III, LINE 4: THE DR. DONALD L. AND DOROTHY JACOBS COLLECTION AT GEORGETOWN COLLEGE IS A PERMANENT GALLERY OF MORE THAN 100 MODERN AND CONTEMPORARY WORKS OF ART, ALONG WITH AN OUTSTANDING COLLECTION OF ARTIFACTS FROM FIVE CONTINENTS. THE PERMANENT COLLECTION AT GEORGETOWN COLLEGE COMPRISES APPROXIMATELY 200 WORKS OF ART, DATING FROM THE SIXTEENTH-CENTURY THROUGH 2009, WITH THE MAJORITY OF PIECES HAVING BEEN CREATED IN THE TWENTIETH CENTURY. GEORGETOWN COLLEGE ALUMNI AND THE ARTIST DONATED MANY OF THE PIECES, HOWEVER THE COLLECTION CONTAINS A FEW PIECES FROM NOTED ARTISTS, SUCH AS SALVADOR DALI, ANDO HIROSHIGE, JASPER JOHNS, PIERRE AUGUSTE RENOIR, AND GEORGE TURNER. THE ANN WRIGHT WILSON FINE ARTS GALLERY AND THE COCHENOUR GALLERY AT GEORGETOWN COLLEGE OFFER TEMPORARY EXHIBITIONS YEAR ROUND FEATURING THE WORK OF INTERNATIONAL, NATIONAL AND REGIONAL ARTISTS. THE LIVE.LEARN.BELIEVE. OUTDOOR SCULPTURE EXHIBITION EXEMPLIFIES QUALITY SCULPTURE, BEAUTIFIES THE COLLEGE CAMPUS, EXPOSES STUDENTS AND VISITORS TO ARTWORK THAT IS OPENLY ACCESSIBLE AND OUTSIDE OF CONVENTIONAL GALLERY SPACE, AND PROVIDES AN ENVIRONMENT FOR INTELLECTUAL GROWTH WHERE STUDENTS AND THE COMMUNITY CAN VIEW AND LEARN ABOUT ART. THESE COLLECTIONS ARE AVAILABLE FOR STUDY AND USE BY THE COLLEGE AND COMMUNITY AND SUPPLEMENT THE ACADEMIC PROGRAM THROUGH A CULTURAL ENRICHMENT PROGRAM OFFERING INTELLECTUAL, CULTURAL, AND RELIGIOUS EXPERIENCES AND ENABLE MEMBERS OF THE COLLEGE COMMUNITY TO BROADEN THEIR AWARENESS OF CULTURAL DIVERSITY. PART V, LINE 4: ENDOWMENT FUNDS ARE AMOUNTS RECEIVED FROM DONORS WHOSE INCOME IS DESIGNATED FOR A SPECIFIC PURPOSE OF THE COLLEGE. ALMOST ALL OF THE INVESTMENT INCOME EARNED BY THESE FUNDS SUPPORTS SCHOLARSHIPS AND THE BUDGET OF THE COLLEGE. SOME SMALLER AMOUNTS ARE DESIGNATED FOR FACULTY AWARDS, FACULTY OR STUDENT SCHOLARSHIP TRAVEL AND OTHER MISCELLANEOUS PURPOSES RELATED TO THE COLLEGE'S EDUCATIONAL MISSION. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED AGAINST REVENUE ON FORM 990 2,441,128. RENTAL EXPENSES NETTED AGAINST REVENUE ON FORM 990 277,092. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST TUITION REVENUE ON FINANCIAL STATEMENTS 24,901,828. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED AGAINST REVENUE ON FORM 990 2,441,128. ADJUSTMENT FOR ACTUARIAL LIABILITY FOR ANNUITIES AND LIFE INCOME FUNDS 63,148. RENTAL EXPENSES NETTED AGAINST REVENUE ON FORM 990 277,092. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST TUITION REVENUE ON FINANCIAL STATEMENTS 24,901,828. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 GEORGETOWN COLLEGE USES A COMBINATION OF PRINT (BROCHURES, FLYERS, COLLEGE CATALOG, DISPLAYS, POSTAL CORRESPONDENCE) AND ELECTRONIC (EMAIL, INTERNET, VIDEO) MESSAGES TO PROMOTE THE COLLEGE TO THE LOCAL COMMUNITY AND OVER 100,000 PROSPECTIVE STUDENTS GLOBALLY. MESSAGES THAT TARGET PROSPECTIVE STUDENTS INCLUDE THE FOLLOWING NON-DISCRIMINATION STATEMENT: "GEORGETOWN COLLEGE ADMITS STUDENTS REGARDLESS OF RACE, COLOR, NATIONAL ORGIN, SEX, DISABILITY, OR AGE." SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FUNDS FROM THE FEDERAL GOVERNMENT, PRIMARILY FROM PROGRAMS OVERSEEN BY THE U.S. DEPARTMENT OF EDUCATION, WHICH ARE USED TO PROVIDE FINANCIAL AID AND/OR LOANS TO STUDENTS ATTENDING THE COLLEGE. IN ADDITION, THE COLLEGE RECEIVES OTHER FEDERAL FUNDS, AND FUNDS FROM THE KENTUCKY DEPARTMENT OF EDUCATION, WHICH ARE RELATED TO GRANTS THAT FURTHER THE COLLEGE'S EDUCATIONAL MISSION. EUROPE (INCLUDING ICELAND & GREENLAND) - PROGRAM SERVICE STUDY ABROAD 72645 EUROPE (INCLUDING ICELAND & GREENLAND) - PROGRAM SERVICE REGENT'S PARK COLLEGE PROGRAMS 314091 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, PROGRAM SERVICE STUDY ABROAD 24215 0 0 0 0 0 0 410951 0 410951 0 0 0 0 0 0 X X X X X X X FB-GOLF SCRAMBLE 11485 11485 90 2700 BB-GOLF SCRAMBLE 4185 4185 1014 1372 2352 1 2595 2595 800 1913 18265 18265 1904 1372 6965 10241 -10241 1 SCHOLARSHIPS 951 24901828 PART I, LINE 2: FOR GRANTS RECEIVED BY THE COLLEGE, GRANTS ARE CONTROLLED BY A DESIGNATED RESPONSIBLE PERSON ON CAMPUS, WHO IS TYPICALLY THE PERSON WHO APPLIES FOR THE GRANT. ALL PROPOSED EXPENDITURES FROM THE GRANT MUST BE APPROVED BY THAT PERSON. THE ACCOUNTING DEPARTMENT REVIEWS THE INVOICE FOR APPROPRIATENESS WITH THE NATURE OF THE GRANT, REVIEWS THE ACTUAL TRANSACTION TO MAKE SURE THAT IT IS ADEQUATELY SUPPORTED, AND REVIEWS THE TRANSACTION TO BE SURE THAT IT IS AN ALLOWABLE EXPENSE UNDER FEDERAL LAW. EACH GRANT IS ASSIGNED ITS OWN SET OF GENERAL LEDGER ACCOUNTS TO SEGREGATE THE EXPENSES AND GRANT INCOME FROM OTHER EXPENDITURES AND REVENUES OF THE COLLEGE. IF THE GRANT IS A REIMBURSEMENT GRANT, THE COLLEGE PERIODICALLY DRAWS FUNDS DOWN FROM THE GRANTOR BASED ON THE ACTUAL EXPENSES INCURRED. WHEN REPORTS ARE DUE TO THE GOVERNMENT OR OTHER GRANTOR, THE RESPONSIBLE PERSON PREPARES THE REPORT WITH ASSISTANCE OF THE ACCOUNTING DEPARTMENT. TYPICALLY, THESE REPORTS ARE SIGNED BY THE RESPONSIBLE PERSON AND THE CFO OR PRESIDENT OF THE COLLEGE CERTIFYING THE ACCURACY OF THE REPORT. GRANTS SHOWN ON PART III ARE SCHOLARSHIPS. SCHOLARSHIPS ARE GRANTED IN TWO FORMS. FIRST, SOME SCHOLARSHIPS ARE FUNDED BY DONOR GIFTS OR INVESTMENT INCOME FROM DONOR GIFTS. THESE SCHOLARSHIPS MUST BE GRANTED AS THE DONOR HAS SPECIFIED AT THE TIME OF THE GIFT. THE STUDENT MUST MEET THE DESIGNATED REQUIREMENTS OF THE DONOR. SECOND, THE COLLEGE ALSO AWARDS SCHOLARSHIPS FROM GENERAL COLLEGE REVENUES. THESE SCHOLARSHIPS ARE AWARDED BASED ON ACADEMIC ACHIEVEMENT AND FINANCIAL NEEDS WHICH IS CONSISTENT WITH INDUSTRY STANDARDS. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 M DWAINE GREENE PRESIDENT 341135 0 0 0 0 0 4050 0 4080 0 349265 0 0 0 PART I, LINE 1A FIRST CLASS OR CHARTER TRAVEL IS PROVIDED ONLY IN CERTAIN LIMITED SITUATIONS. THE PRESIDENT'S WIFE SOMETIMES ACCOMPANIES THE PRESIDENT ON OFFICIAL BUSINESS FOR THE COLLEGE. IN THOSE INSTANCES, THE COLLEGE WILL SOMETIMES PAY THE TRAVEL EXPENSES. THE PRESIDENT RESIDES IN A DWELLING OWNED BY THE COLLEGE, WHICH IS PROVIDED TO HIM FOR HIS USE. A CITY OF GEORGETOWN AND GEORGETOWN COLLEGE PROJECT 616001830 372730CJ8 2006-05-17 39640000 REFUNDING OF THE OUTSTANDING COLLEGE 2000 AND 2002 REVENUE BONDS 0 0 0 A 39640000 39126304 513696 2006 0 1 1 1 A 1 1 1 FIFTH THIRD BANK 24.000000000000 1 0 0 0 1 A 1 FORM 990, SCHEDULE K, PART IV, LINE 1 ARBITRAGE CALCULATIONS HAVE BEEN PERFORMED, BUT NO AMOUNTS ARE DUE. DR TODD COKE HIS WIFE, DR. ROSEMARY ALLEN IS THE PROVOST OF THE COLLEGE 49913 DR. TODD COKE HAS BEEN A MEMBER OF THE GEORGETOWN COLLEGE FACULTY FOR OVER 20 YEARS. MS. ALLEN IS THE PROVOST AND IS RESPONSIBLE FOR ACADEMIC PROGRAMS ON CAMPUS. DR. COKE'S COMPENSATION FOR THE YEAR ENDED 6/30/19 WAS $49,913 IN SALARY PLUS THE COLLEGE'S STANDARD BENEFITS 0 MR BI HOUSTON FORMER TRUSTEE 55000 MR. B.I. HOUSTON'S WIFE, DEBBIE, WAS ON THE BOARD OF THE KENTUCKY BAPTIST SEMINARY OF KENTUCKY. BEGINNING IN JUNE 2010, THE KENTUCKY BAPTIST SEMINARY ENTERED INTO A LEASE AGREEMENT WITH RENTALS BEGINNING ON AUGUST 1, 2010 FOR SPACE IN THE COLLEGE'S LEARNING RESOURCE CENTER. THE SEMINARY PAYS THE COLLEGE $55,000 IN RENT ANNUALLY. THIS AGREEMENT WAS NEGOTIATED IN GOOD FAITH BY THE MANAGEMENT OF BOTH PARTIES AND THEN SUBMITTED TO APPROVAL BY THE TRUSTEES IN ACCORDANCE WITH THE REQUIREMENTS OF THE RESPECTIVE ORGANIZATIONS. 0 X 1585 VALUE PER DONOR X 16 182419 FAIR MARKET VALUE X 1 3661 VALUE PER DONOR 0 0 1 1 PART I, LINE 32B: THE INVESTMENT DEPARTMENT OF FIFTH THIRD BANK RECEIVES ALL OF OUR STOCK GIFTS, SELLS THEM ON OUR BEHALF, AND REMITS NET PROCEEDS TO THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 11B THE COLLEGE PROVIDES A DRAFT COPY OF THE FORM 990 TO THE TRUSTEES ON THE EXECUTIVE/FINANCE COMMITTEE IN ADVANCE OF ITS DUE DATE FOR THEIR REVIEW. ANY QUESTIONS OR CONCERNS RECEIVED FROM THE TRUSTEES ARE ADDRESSED PRIOR TO THE INFORMATION RETURN BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C 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. FORM 990, PART VI, SECTION B, LINE 15 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. FORM 990, PART VI, SECTION C, LINE 19 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 ARE AVAILABLE ON THE COLLEGE'S INTRANET. 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 AT 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. FORM 990, PART XI, LINE 9: ADJUSTMENT FOR ACTUARIAL LIABILITY FOR ANNUITIES AND LIFE INCOME FUNDS -63,148. FORM 990, PART XII, LINE 2C 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. FORM 990, PART VI, SECTION A, LINE 1A BETWEEN BOARD MEETINGS, THE EXECUTIVE/FINANCE COMMITTEE IS EMPOWERED TO ACT ON BEHALF OF THE BOARD. THE MINUTES OF ALL EXECUTIVE/FINANCE COMMITTEE MEETINGS ARE DISTRIBUTED TO THE FULL BOARD AT EACH REGULARLY SCHEDULED MEETING OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 16B IN 2016, THE COLLEGE ENTERED INTO AN LLC IN WHICH IT IS A 95% OWNER; THE OTHER OWNER IS AN INDIVIDUAL. EXCEPT FOR AN INITIAL CASH CAPITAL CONTRIBUTION OF $950, THE COLLEGE HAS 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. GEORGETOWN COLLEGE FOUNDATION INC 400 EAST COLLEGE STREET GEORGETOWN KY 40324 611228041 SUPPORTING ORGANIZATION FOR GEORGETOWN COLLEGE KY 501(C)(3) LINE 12A, I N/A 0 GEORGETOWN COLLEGE ALUMNI LLC 400 EAST COLLEGE STREET GEORGETOWN KY 40327 352417606 MARKETING SERVICES KY GEORGETOWN COLLEGE UNRELATED -336 11940 0 0 0.95000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0