2018-11-12T13:20:41-06:00 2018-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2017-07-01 042104451 REGIS COLLEGE REGI 7817687075 235 WELLESLEY STREET WESTON MA 02493 THOMAS PISTORINO VP OF FINANCE & BUSINESS 7817687075 2018-11-12 1 THOMAS A WASHBURN CPA P00537319 5083669100 2018-11-09 64.238.141.162 2018-11-12 13:24:06 ES P F4247996A0DFD92197EA51AEF4558D040C319DAA CB2B07AFD6767982BCB28B09646F6ACBACA35001 2017 2019-02-21 02:37:17Z THOMAS PISTORINO 235 WELLESLEY STREET WESTON MA 02493 81608452 0 X WWW.REGISCOLLEGE.EDU X 1927 MA REGIS COLLEGE EDUCATES APPROXIMATELY 2,800 UNDERGRADUATE AND GRADUATE STUDENTS IN DAYTIME, EVENING, AND WEEKEND PROGRAMS IN FOUR SCHOOLS; THE SCHOOL OF NURSING, THE SCHOOL OF HEALTH SCIENCES, THE SCHOOL OF ARTS AND SCIENCES AND THE SCHOOL OF BUSINESS AND COMMUNICATIONS.THE COLLEGE OPERATES A LIBRARY, FINE ARTS CENTER, LANGUAGE AND TECHNOLOGY LABS, AUDIO VISUAL SERVICES, HEALTH CENTER, ADMISSION, CAREER PLANNING, CAMPUS SAFETY, TRANSPORTATION, CAMPUS MINISTRY, INTER-COLLEGIATE ATHLETICS, REGISTRATION SERVICES, DINING, RESIDENT HALLS, CHILDRENS LEARNING CENTER, BOOKSTORE, AND A VARIETY OF OTHER STUDENT SERVICES. 31 30 1205 50 0 0 7306650 6069380 67232997 72408370 406354 449885 692305 1257517 75638306 80185152 21186587 22532305 0 0 34707253 39268856 86803 58309 1917850 20598313 20004059 76578956 81863529 -940650 -1678377 109865203 109381469 66923452 66991158 42941751 42390311 X REGIS COLLEGE, THROUGH EDUCATION IN THE ARTS, SCIENCES, AND PROFESSIONS EMPOWERS WOMEN AND MEN TO CHALLENGE THEMSELVES ACADEMICALLY, TO SERVE AND TO LEAD. A CATHOLIC COLLEGE, REGIS IS A DIVERSE AND WELCOMING COMMUNITY GUIDED BY THE VALUES OF THE SISTERS OF ST. JOSEPH OF BOSTON. 0 0 21916918 61306337 INSTRUCTION: KNOWLEDGE GENERATION AND THE DELIVERY OF EDUCATION TO APPROXIMATELY 2,800 STUDENTS IN DAYTIME, EVENING, AND WEEKEND PROGRAMS IN TWO SCHOOLS; THE SCHOOL OF NURSING, SCIENCE AND HEALTH PROFESSIONS AND THE SCHOOL OF LIBERAL ARTS, EDUCATION AND SOCIAL SCIENCE. INSTRUCTION IN ONLINE PROGRAMS, CONTINUING STUDIES FOR ADULT LEARNERS AND LIFELONG LEARNING. 6526339 ACADEMIC AFFAIRS-OPERATING THE LIBRARY, FINE ARTS CENTER, LANGUAGE AND TECHNOLOGY LABS, PROVIDING AUDIO VISUAL SERVICES TO PROFESSIONAL STUDIES, NURSING, UNDERGRADUATE, GRADUATE AND CONTINUING STUDIES FOR APPROXIMATELY 2,800 STUDENTS. 10386971 STUDENT AFFAIRS-PROVIDE HEALTH SERVICES, ADMISSIONS, CAREER PLANNING, CAMPUS SAFETY AND TRANSPORTATION,CAMPUS MINISTRY, INTER-COLLEGIATE ATHLETICS AND REGISTRATION SERVICES FOR APPROXIMATELY 2,800 STUDENTS 4270763 AUXILIARY ENTERPRISES-PROVIDE DINING SERVICES, RESIDENTIAL HALL SERVICES, CHILDREN'S LEARNING CENTER,BOOKSTORE SERVICES, TELECOMMUNICATIONS SERVICES FOR APPROXIMATELY 2,800 STUDENTS. 22532305 22532305 11102033 OTHER PROGRAM SERVICES-SCHOLARSHIP AND GRANTS TO APPROXIMATELY 2,000 STUDENTS. 26803068 22532305 11102033 65633296 1 1 0 0 0 0 0 0 1 1 1 0 1 0 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 104 0 1 1205 1 0 0 0 0 0 1 1 0 0 0 X 31 30 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 MA MI NH NY OR SC X X THOMAS PISTORINO 7817687075 235 WELLESLEY STREET WESTON MA 02493 MICHAEL J HALLORAN TREASURER 1.00 X X 0 0 0 SISTER LEILA HOGAN CSJ SECRETARY 1.00 X X 0 0 0 JOHN TEGAN JR CHAIR 1.00 X X 0 0 0 SISTER MAUREEN DOHERTY CSJ BOARD OF TRUSTEES 1.00 X 0 0 0 RUTH SANDERSON KINGSBURY BOARD OF TRUSTEES 1.00 X 0 0 0 SISTER MARIAN BATHO CSJ BOARD OF TRUSTEES 1.00 X 0 0 0 SISTER KATHLEEN MCCLUSKEY CSJ BOARD OF TRUSTEES 1.00 X 0 0 0 JOANNE CROWLEY BOARD OF TRUSTEES 1.00 X 0 0 0 JANE TEDDER BOARD OF TRUSTEES 1.00 X 0 0 0 GLENN MORRIS BOARD OF TRUSTEES 1.00 X 0 0 0 SISTER JACQUELYN MCCARTHY CSJ BOARD OF TRUSTEES 1.00 X 0 0 0 MEYER CHAMBERS BOARD OF TRUSTEES 1.00 X 0 0 0 JOE-ANN FERGUS BOARD OF TRUSTEES 1.00 X 0 0 0 JOHN A LIBERTINO MD BOARD OF TRUSTEES 1.00 X 0 0 0 EILEEN NG BOARD OF TRUSTEES 1.00 X 0 0 0 SISTER ROSEMARY BRENNAN CSJ BOARD OF TRUSTEES 1.00 X 0 0 0 ANITA BRENNAN BOARD OF TRUSTEES 1.00 X 0 0 0 PETER LANGENUS BOARD OF TRUSTEES 1.00 X 0 0 0 HANS CHRISTENSEN BOARD OF TRUSTEES 1.00 X 0 0 0 SISTER MARY ANNE DOYLE CSJ BOARD OF TRUSTEES 1.00 X 0 0 0 CAMILLE FERAZZI BOARD OF TRUSTEES 1.00 X 0 0 0 MARY ANN W LEWIS BOARD OF TRUSTEES 1.00 X 0 0 0 THOMAS P O'NEILL III BOARD OF TRUSTEES 1.00 X 0 0 0 SABINA T HERLIHY BOARD OF TRUSTEES 1.00 X 0 0 0 KATHLEEN JOSE BOARD OF TRUSTEES 1.00 X 0 0 0 ANTOINETTE HAYS PRESIDENT 40.00 X X 450045 0 103995 MICHAEL LARHETTE BOARD OF TRUSTEES 1.00 X 0 0 0 JUDY LAUCH BOARD OF TRUSTEES 1.00 X 0 0 0 PAUL LONERGAN BOARD OF TRUSTEES 1.00 X 0 0 0 PETER N MADRAS BOARD OF TRUSTEES 1.00 X 0 0 0 LIANNE MARSHALL BOARD OF TRUSTEES 1.00 X 0 0 0 THOMAS PISTORINO VP OF FINANCE & BUSINESS 40.00 X 218822 0 67189 KARA KOLOMITZ VP OF STUDENT AFFAIRS 40.00 X 168995 0 5252 MALCOLM ASADOORIAN VP OF ACADEMIC AFFAIRS 40.00 X 182119 0 12468 MARY KATE SUPPLE VP, GRADUATE AFFAIRS & ENROLLMENT 40.00 X 158400 0 4850 MIRIAM SHERMAN CHIEF DEVELOPMENT OFFICER 40.00 X 172212 0 5252 KATE KORZENDORFER ASSOCIATE VP FOR IT/CIO 40.00 X 156620 0 11475 1507213 0 210481 28 0 1 0 ARAMARK CORPORATION PO BOX 906023 CHARLOTTE NC 28290 FOOD SERVICE 2459304 NCS PEARSON INC 13036 COLLECTION CENTER DRIVE CHICAGO IL 60693 DISTANCE LEARNING CONSULTANT 2109245 WRIGHT EXPRESS FINANCIAL SERVICES 33548 TREASURY CENTER CHICAGO IL 60694 CREDIT CARD SERVICES 1293822 COLUMBIA CONSTRUCTION COONES ROOFING 100 RIVERPARK DRIVE NORTH READING MA 01864 MAINTENANCE/CONSTRUCTION SERVICES 1258210 AMERICAN GREEN BUILDING CONSTRUCTION SER PO BOX 365558 HYDE PARK MA 02136 MAINTENANCE/CONSTRUCTION SERVICES 586334 11 1266502 534542 4268336 130939 6069380 TUITION AND FEES 900099 61306337 61306337 AUXILIARY ENTERPRISES 900099 11102033 11102033 72408370 382657 382657 2597907 1179381 1418526 1418526 1418526 106131 38903 67228 67228 67228 44007 1266502 205016 -161009 -161009 80185152 72408370 0 1707402 22532305 22532305 779454 779454 30794381 23874583 5873810 1045988 537555 380122 134844 22589 4843012 3658100 1085938 98974 2314454 1783934 452087 78433 22874 22874 110258 110258 58309 58309 86335 86335 2515249 924137 1591112 324966 284982 39984 822748 619233 118188 85327 565424 450713 112820 1891 5869765 4390666 1275118 203981 609157 527915 40781 40461 131381 107944 22472 965 275951 275951 2843231 1787313 933366 122552 182976 182976 FOOD SERVICE 1988418 1897766 90652 RESTRICTED EXPENDITURES 1191338 1168389 22935 14 MISCELLANEOUS 888560 512429 266388 109743 SPECIAL PROGRAMS 808753 465604 309928 33221 766675 267161 484112 15402 81863529 65633296 14312383 1917850 160030 249730 2576212 2915271 7345947 4527326 2549320 2388075 2018347 2079007 122873226 70244325 52970529 52628901 21517219 22734409 18800000 18800000 1927599 3058750 109865203 109381469 3441155 5701678 2898744 3901705 47557442 46412480 9480911 7361492 3545200 3613803 66923452 66991158 X 16780317 15677846 6961483 7257586 19199951 19454879 42941751 42390311 109865203 109381469 -1678377 1126937 0 X X 0 1 X 1 1 1 X 1 390 167 223 0 41313009 283867 1244709 1729712 41111873 33612944 4735034 3352029 386998 41313009 33669667 186620 138935 382278 33612944 32099980 1046284 939708 416305 33669667 31672196 41726 832102 446044 32099980 0.43600 0.49400 0.07000 0 0 522323 522323 42219148 17500566 24718582 57076817 34807979 22268838 16903199 14870324 2032875 6151739 3065456 3086283 52628901 LAND HELD FOR INVESTMENT - BOARD DESIGNATED FOR ENDOWMENT 18800000 F 18800000 ADVANCES FOR FEDERAL STUDENT LOANS 2585748 ANNUITY PAYMENT LIABILITY 156947 DEPOSITS HELD FOR OTHERS 114859 DEPOSITS & OTHER LONG TERM PAYABLES 756249 3613803 X 60164181 1126937 -22532305 -21405368 81569549 -1384397 -1384397 80185152 60715621 1384397 1384397 59331224 22532305 22532305 81863529 PART IV, LINE 1B: THE COLLEGE ACTS AS FISCAL AGENT FOR A BOSTON AREA SCHOOL IN ACCORDANCE WITH ITS CONTRACT WITH THE BOSTON PUBLIC SCHOOLS. THE COLLEGE RECEIVES AND DISBURSES FUNDS ON BEHALF OF THIS ORGANIZATION. PART V, LINE 4: ENDOWMENT FUNDS ARE CATEGORIZED INTO THREE AREAS, FINANCIAL AID, INSTITUTIONAL AND LAND HELD FOR INVESTMENT. THE COLLEGE USES THE ANNUAL SPENDING RATE ON THE FINANCIAL AID FUNDS TO PROVIDE SCHOLARSHIPS TO STUDENTS THAT MEET THE REQUIRED CRITERIA. THE COLLEGE USES THE SPENDING RATE ON THE INSTITUTIONAL FUNDS FOR GENERAL OPERATIONAL SPENDING. PART X, LINE 2: THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COLLEGE HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS -22,532,305. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENT EXPENSES NETTED WITH REVENUE -1,179,381. SPECIAL EVENTS DIRECT EXPENSE NETTED WITH REVENUE -205,016. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT EXPENSES NETTED WITH REVENUE 1,179,381. SPECIAL EVENTS DIRECT EXPENSE NETTED WITH REVENUE 205,016. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 22,532,305. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THROUGH ADVERTISEMENT IN GENERAL CIRCULATION NEWSPAPERS, JOURNALS, CATALOG OFFERS, NATIONAL COLLEGE & UNIVERSITY PUBLICATIONS AND OTHER MEANS. ALSO, PROGRAMS INCLUDE IN THEIR SOLICITATION MATERIAL, A SUMMARY STATEMENT OF THE NON-DISCRIMINATION POLICY. SCHEDULE E, PART I, LINE 6 REGIS COLLEGE RECEIVES AND PARTICIPATES IN VARIOUS GOVERNMENTAL FINANCIAL ASSISTANCE PROGRAMS COMMON TO COLLEGES AND UNIVERSITIES SUCH AS; NATIONAL DIRECT STUDY LOAN PROGRAM, BASIC EDUCATIONAL OPPORTUNITY GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, AND WORK STUDY PROGRAMS. NO FUNDS HAVE BEEN REVOKED OR SUSPENDED AT ANY TIME. EAST ASIA AND THE PACIFIC 0 0 FUNDRAISING 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X X X X X X X 1 DEVELOPMENT GUILD 233 HARVARD STREET SUITE 107 BROOKLINE MA 02446 CONSULTING 0 0 61471 -61471 61471 -61471 MA MI NH NY OR SC AK CO VT WA DC GOLF TOURNAMENT 81360 71865 9495 14635 3983 9867 GALA 1229149 1194637 34512 13825 56850 1850 104006 1310509 1266502 44007 28460 60833 1850 113873 205016 -161009 1 ALUMNI SCHOLARSHIP : FINANCIAL AID 102 200000 FMV SCHOLARSHIP ANNIVERSARY SCHOLARSHIP : FINANCIAL AID-UG 136 1561500 FMV SCHOLARSHIP ENDOWED SCHOLARSHIPS : GENERAL 107 325530 FMV SCHOLARSHIP HEALTH ADMINISTRATION SCH : FINANCIAL AID 3 10000 FMV SCHOLARSHIP JONAS SCHOLARS PROGRAM :GENERAL 2 11655 FMV SCHOLARSHIP LLARC SHARING OPS SCHOLARSHIP : GENERAL 3 20042 FMV SCHOLARSHIP MASSACHUSETTS U-PLAN : FINANCIAL AID-UG IN 2 1271 FMV SCHOLARSHIP MJE SCHOLARSHIP : GENERAL 3 20000 FMV SCHOLARSHIP NURSING GRADUATE ASSISTANCESHIP : FINANCIA 43 220311 FMV SCHOLARSHIP OCCUPATIONAL THERAPY SCHOLARSH : FINANCI 3 10000 FMV SCHOLARSHIP OUT OF STATE ROOM SCHOLARSHIP : FINANCIA 543 2545625 FMV SCHOLARSHIP REGIS GRANTS : FINANCIAL AID NT INTERNAL 881 7716814 FMV SCHOLARSHIP S. JOHN SULLIVAN SCHOLARSHIPS : GENERAL 2 7500 FMV SCHOLARSHIP SCHRAFFTS BOSTON : FINANCIAL AID 11 25000 FMV SCHOLARSHIP SHARING OPPORTUNITIES : GENERAL 2 22190 FMV SCHOLARSHIP SIBLING DISCOUNT : FINANCIAL AID-UG INTERN 27 62500 FMV SCHOLARSHIP SR. J. D'ARC MERIT SCHOLARSHIP : FINANCIAL AID 302 4396000 FMV SCHOLARSHIP SR. T. HIGGINS CSJ SCHOLARSHIP: FINANCIAL AID 389 2503472 FMV SCHOLARSHIP STACY STOTT SCHOLARSHIP : GENERAL 1 500 FMV SCHOLARSHIP CIC- DOROTHEA M. WATERBRY SCHOLARSHIP 1 1000 FMV SCHOLARSHIP TOWER SCHOLARSHIP : FINANCIAL AID-UG INTER 209 2500725 FMV SCHOLARSHIP TUITION DISCOUNTS : GENERAL 141 289882 FMV SCHOLARSHIP BARBARA KELLEHER HYLAND TERM SCHOLARSHIP 1 3500 FMV SCHOLARSHIP DNP NURSING SCHOLARSHIP 1 3000 FMV SCHOLARSHIP E. BOYLAN SCHOLARSHIP : GENERAL 1 2650 FMV SCHOLARSHIP MEFA INSPIRATION : FINANCIAL AID -UG EXTER 1 2583 FMV SCHOLARSHIP SEOG IY & CY : FINANCIAL AID UG EXTERNAL 345 19055 FMV SCHOLARSHIP STELLATO SISTERS SCHOLARSHIP IN NURSING 2 25000 FMV SCHOLARSHIP YAWKEY FOUNDATION : GENERAL 9 25000 FMV SCHOLARSHIP PART I, LINE 2: THE COLLEGE COMPLIES WITH THE U.S. DEP. OF EDUCATION POLICY REGARDING TITLE IV FUNDS AND OTHER GRANT AWARDS. THE COLLEGE HAS DEDICATED FINANCIAL AID PROFESSIONALS AND GRANT ADMINISTRATORS. THESE INDIVIDUALS WORK IN CONJUNCTION WITH FINANCE PROFESSIONALS TO ENSURE PROPER STEWARDSHIP OF FUNDS. THESE INDIVIDUALS FOLLOW THE STATUTORY AND REGULATORY REQUIREMENTS SET FORTH IN THE GRANT. FUNDS ARE DRAWN AFTER EXPENSES ARE INCURRED. PROGRESS REPORTS ARE SUBMITTED IN COMPLIANCE WITH THE GRANT REQUIREMENTS AND DOCUMENTATION IS MAINTAINED. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 ANTOINETTE HAYS PRESIDENT 440445 0 0 0 9600 0 90062 0 13933 0 554040 0 0 0 THOMAS PISTORINO VP OF FINANCE & BUSINESS 218822 0 0 0 0 0 5282 0 61907 0 286011 0 0 0 KARA KOLOMITZ VP OF STUDENT AFFAIRS 168995 0 0 0 0 0 4025 0 1227 0 174247 0 0 0 MALCOLM ASADOORIAN VP OF ACADEMIC AFFAIRS 182119 0 0 0 0 0 4528 0 7940 0 194587 0 0 0 MARY KATE SUPPLE VP, GRADUATE AFFAIRS & ENROLLMENT 158400 0 0 0 0 0 3681 0 1169 0 163250 0 0 0 MIRIAM SHERMAN CHIEF DEVELOPMENT OFFICER 172212 0 0 0 0 0 4025 0 1227 0 177464 0 0 0 KATE KORZENDORFER ASSOCIATE VP FOR IT/CIO 156620 0 0 0 0 0 3773 0 7702 0 168095 0 0 0 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2013-06-13 50000000 CONSTRUCTION AND RENOVATION UNDER MASTER PLAN 0 0 0 A 3351753 50000000 1000000 98200 23549823 25351977 2016 0 0 1 0 A 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 0 A 1 LIANE MARSHALL TRUSTEE 392319 LIANE MARSHALL, TRUSTEE, IS A PRINCIPAL AT MARSHALL DEVELOPMENT. MARSHALL DEVELOPMENT PROVIDED PRELIMINARY CONSULTING WORK TO REGIS COLLEGE FOR THE ATHLETIC COMPLEX CAPITAL PROJECT. 0 KATHLEEN DAWLEY FORMER TRUSTEE 130000 KATHLEEN DAWLEY, TRUSTEE, IS A PRINCIPAL AT EAB/ROYALL. EAB/ROYALL PROVIDED ENROLLMENT CONSULTING SERVICES TO REGIS COLLEGE. 0 X 18 130939 FAIR MARKET VALUE 0 1 1 PART I, LINE 32B: REGIS COLLEGE UTILIZES A BROKER TO SELL DONATED STOCK. FORM 990, PART VI, SECTION A, LINE 6 THE BY-LAWS OF THE CORPORATION PROVIDE FOR BETWEEN FIVE AND NINE MEMBERS. AT LEAST FIVE MEMBERS SHOULD BE MEMBERS OF THE CONGREGATION OF THE SISTERS OF SAINT JOSEPH OF BOSTON. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CORPORATION ELECT MEMBERS OF THE GOVERNING BOARD OF TRUSTEES TO THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF THE CORPORATION APPROVE CHANGES TO BY-LAWS AND THE SALE OR DISPOSITION OF REAL ESTATE. FORM 990, PART VI, SECTION B, LINE 11B THE PREPARER OF THE 990 WILL PRESENT A COPY OF THE FORM TO THE BOARD OF TRUSTEES BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE HAS A SINGLE COMBINED WRITTEN DOCUMENT FOR CONDUCT, ETHICS, CONFLICT OF INTEREST, TECHNOLOGY USE, AND CONFIDENTIALITY POLICIES FOR FACULTY, STAFF AND ADMINISTRATION. THIS DOCUMENT IS PART OF THE HIRING PROCESS, SIGNED BY THE EMPLOYEE AND STORED IN THE OFFICE OF HUMAN RESOURCES. IN ADDITION, THE COLLEGE ALSO DISTRIBUTES A RELATED PARTY QUESTIONNAIRE THROUGH ITS ANNUAL AUDIT PROCESS TO ALL BOARD MEMBERS AND OFFICERS. THIS QUESTIONNAIRE IS DESIGNED TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. OUR ANNUAL INDEPENDENT AUDIT WILL NOT BE COMPLETE UNTIL ALL OF THESE FORMS HAVE BEEN SIGNED AND RETURNED. FURTHERMORE, THE BY-LAWS OF THE COLLEGE STATES: "NO MEMBER OF THE CORPORATION, TRUSTEE, OFFICER OR EMPLOYEE OF THE CORPORATION SHALL HAVE ANY PERSONAL FINANCIAL INTEREST, DIRECT OR INDIRECT, IN ANY CONTRACT RELATING TO THE BUSINESS CONDUCTED BY THE CORPORATION, OR THE FURNISHING OF SUPPLIES TO THE CORPORATION, UNLESS AUTHORIZED BY CONCURRING VOTE OF TWO-THIRDS OF THE DISINTERESTED TRUSTEES, EVEN THOUGH THE DISINTERESTED TRUSTEES BE LESS THAN A QUORUM, AND PROVIDE THAT THE MATERIAL FACTS AS TO HER INTEREST IN SUCH TRANSACTION ARE DISCLOSED OR ARE KNOWN TO THE BOARD OF TRUSTEES." FORM 990, PART VI, SECTION B, LINE 15 FOR THE RECRUITMENT OF THE PROSPECTIVE EXECUTIVE POSITION, THE COLLEGE ENGAGES AN INDEPENDENT PROFESSIONAL EXECUTIVE SEARCH FIRM. THROUGH AN AD HOC COMPENSATION COMMITTEE APPROVED BY THE BOARD OF TRUSTEES THE COLLEGE AND THE FIRM WORK TOGETHER TO OBTAIN COMPARATIVE MARKET DATA AND ACQUIRE AVAILABLE SALARY SURVEY DATA. THE COMPENSATION COMMITTEE REVIEWS COMPARATIVE MARKET DATA AND AVAILABLE SALARY SURVEY DATA BEFORE MAKING RECOMMENDATIONS TO THE BOARD OF TRUSTEES WHICH HAS FINAL APPROVAL. THE PRESIDENT HAS A WRITTEN EMPLOYMENT CONTRACT. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES OF THE COLLEGE IS DETERMINED BY MARKET DATA AND INTERNAL SALARY GRADES. FOR VICE PRESIDENT POSITIONS THE REVIEW OF COMPARATIVE MARKET DATA AND SALARY SURVEY DATA ARE PERFORMED BY A SEARCH COMMITTEE IN CONJUNCTION WITH AN EXECUTIVE SEARCH FIRM. FOR OTHER KEY EMPLOYEES THE COLLEGE PERFORMS COMPARATIVE MARKET DATA AND ACQUIRES AVAILABLE SALARY SURVEY INFORMATION THROUGH THE OFFICE OF HUMAN RESOURCES. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.