2017-05-11T11:58:08-07:00 2016-06-30 990 2015-07-01 010211781 PRESIDENT AND TRUSTEES OF BATES COLLEGE PRES 2077868339 216 Lane Hall 2 Andrews Rd Lewiston ME 04240 Geoffrey Swift Treasurer 2077868339 2017-05-11 2015 2021-01-29 14:40:06Z Geoffrey S Swift 216 Lane Hall 2 Andrews Road Lewiston ME 04240 182446974 0 X www.bates.edu X 1855 ME Bates College is a private, highly selective, residential college devoted to undergraduate study in the traditional disciplines of the liberal arts and sciences as well as in emerging interdisciplinary programs. 35 33 2438 2907 148250 144650 20359438 37208715 111741259 115673748 32799981 11581639 -25056 -96204 164875622 164367898 31410615 31492175 0 0 61817364 64019493 6425 65067 6206238 42876436 41525487 136110840 137102222 28764782 27265676 540740182 542546799 149880519 148858145 390859663 393688654 Bates is a college of the liberal arts and sciences, and is a coeducational, nonsectarian, residential college with special commitments to academic rigor, and to assuring in all of its efforts the dignity of each individual, and access to its programs and opportunities by qualified learners. Bates offers a curriculum and faculty that challenge students to attain intellectual achievements and to develop powers of critical assessment, analysis, expression, aesthetic sensibility, and independent thought. The College sponsors cultural, volunteer, athletic, social, and religious opportunities which are open to all students, and values participation in these activities. 0 0 119164144 31492175 115673748 Higher Education: Bates College, widely regarded as one of the finest liberal arts colleges in the nation, is dedicated to the principle of active engagement. A 10-1 student-faculty ratio makes possible close collaborations in classroom and laboratory; the Bates learning experience is honed through seminars, research, service-learning, and the capstone of senior thesis. Typically, two-thirds of Bates's approximately 1,790 students on campus study abroad at some point during their academic careers at Bates. Co-curricular life is rich: most students participate in one of approximately 120 student-run clubs and organizations. Alumni frequently cite the capacities they develop at Bates for critical assessment, analysis, expression, aesthetic sensibility and independent thought. Close to 80 percent of students participate in career internships, and more than two-thirds of recent graduates enroll in graduate study within 10 years after graduation. (Approximately 1,790 students on-campus.) 0 0 0 119164144 1 1 0 1 0 0 0 1 1 1 1 1 0 1 1 0 1 0 1 1 1 0 1 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 1 1 1 0 0 1 X 1901 0 1 2438 1 1 0 0 0 0 0 0 0 0 0 0 X 35 33 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X X Treasurer 2077868339 216 Lane Hall 2 Andrews Rd Lewiston ME 04240 Stuart B Abelson Board Member 1 0 X 0 0 0 Lisa B Barry Board Member 1 0 X X 0 0 0 Alison R Bernstein Board Member 1 0 X 0 0 0 H Scott Bierman Board Member 1 0 X 0 0 0 Michael W Bonney Board Member 1 0 X 0 0 0 Andrea C Bueschel Board Member 1 0 X 0 0 0 Ann E Bushmiller Board Member 1 0 X 0 0 0 William C Carey Board Member 1 0 X 0 0 0 George W Cole Board Member 1 0 X 0 0 0 Darrell W Crate Board Member 1 0 X 0 0 0 Geraldine M FitzGerald Board Member 1 0 X 0 0 0 Scott D Freeman Board Member 1 0 X 0 0 0 Marjorie Northrop Friedman Board Member 1 0 X 0 0 0 Stephen M Fuller Board Member 1 0 X 0 0 0 John D Gillespie Board Member 1 0 X 0 0 0 Christopher J Gorayeb Board Member 1 0 X 0 0 0 Erik O Jarnryd Board Member 1 0 X 0 0 0 Susan S Kozik Board Member 1 0 X 0 0 0 Mark D Mandel Board Member 1 0 X 0 0 0 Paul Marks Board Member 1 0 X 0 0 0 Dervilla M McCann Board Member 1 0 X 0 0 0 Jamie P Merisotis Board Member 1 0 X 0 0 0 John P Murchison Board Member 1 0 X 0 0 0 James F O'Brien Board Member 1 0 X 0 0 0 Mary H Pressman Board Member 1 0 X 0 0 0 Barbara M Raths Board Member 1 0 X 0 0 0 Carol L Rattray Board Member 1 0 X 0 0 0 John T Rossello Jr Board Member 1 0 X 0 0 0 Jeremy M Sclar Board Member 1 0 X 0 0 0 Richard L Smith Board Member 1 0 X 0 0 0 William F Sweat Board Member 1 0 X 0 0 0 Garth A L Timoll Board Member 1 0 X 0 0 0 Quoc Kinh Tran Board Member 1 0 X 0 0 0 Jean P Wilson Board Member 1 0 X 0 0 0 A Clayton Spencer President 40 0 X X 445551 0 56546 Geoffrey Swift VP Fin & Admin, Treasurer 40 0 X 276905 0 37447 Sarah Pearson Vice President, College Advancement 40 0 X 304845 0 67484 Matthew Auer VP Acad Affairs and Dean of Faculty 40 0 X 253634 0 75069 Joshua McIntosh VP Student Affairs, Dean of Students 40 0 X 194051 0 43607 Leigh Weisenburger Dean of Admission and Financial Aid 40 0 X 155778 0 49192 Michael Murray Professor 40 0 X 201896 0 53676 Thomas Wenzel Professor 40 0 X 178643 0 35882 Randolph Shaw Assoc VP College Advancement 40 0 X 166467 0 27381 Kathryn Low Assoc Dean of Faculty, Professor 40 0 X 163320 0 44320 Kevin McHugh Director Physical Education & Athletics 40 0 X 156528 0 57137 Margaret Kimmel Assoc VP Communications 0 0 X 182551 0 18887 Eugene Wiemers VP Info & Library Services, Librarian 0 0 X 134269 0 23819 Natalie Williamson Controller 40 0 X 127317 0 49123 2941755 0 639570 82 1 1 0 Consigli Construction 84 Middle Street Portland ME 04101 Construction 12946703 Ann Beha Architects Inc 33 Kingston Street Boston MA 02111 Architecture 1064607 Hall Capital Partners LLC One Maritime Plaza Suite 500 San Francisco CA 94111 Investment Management 643950 PricewaterhouseCoopers 101 Seaport Blvd Boston MA 02110 Auditing 257817 Propeller Group LLC 2535 Townsgate Road Suite 100 Westlake Village CA 91361 Media Consulting 232188 18 0 0 36628 0 2451200 34720887 3422452 37208715 Student Tuition and Fees 611310 109765408 109765408 0 0 Other Educational Programs and Events 611310 4061938 4061938 0 0 Auxilliary 611710 1846402 1846402 0 0 0 0 0 0 115673748 1112833 0 0 1112833 0 0 0 0 0 0 0 0 440653 0 534835 0 -94182 0 -94182 0 0 -94182 19082636 8875235 17489065 0 1593571 8875235 10468806 0 148250 10320556 53154 36628 55176 -2022 0 -2022 0 0 0 0 0 0 0 0 0 0 0 0 0 164367898 115673748 148250 11337185 13175 13175 29942250 29942250 1536750 1536750 1984895 773765 850927 360203 47289934 41144073 3325933 2819928 4737664 4089105 367706 280853 6464639 5789200 179069 496370 3542361 3035894 287591 218876 351348 21302 295456 34590 262228 262228 65067 65067 1638561 1638561 2866982 2032746 371970 462266 3029018 2411679 311846 305493 5996113 4210552 1785561 4961998 4489986 423370 48642 2556785 2152660 138196 265929 505273 395373 70957 38943 2344116 2331701 12415 6652353 6195699 456654 422558 6708 415850 Food and Beverage 3342694 2673775 188164 480755 Books, Periodicals and Collections 2142974 2080118 42378 20478 Cost of Sales 935627 903562 17674 14391 Equipment Rental, Maintenance and Other 3516859 2934071 289334 293454 137102222 119164144 11731840 6206238 21192 32984 12438522 17836825 5107422 13271666 2403605 1912395 6240799 5809709 468213 313560 1786497 2071053 227161420 92735039 136569710 134426381 100988427 115024388 200743197 174453299 73972598 77394539 540740182 542546799 16360812 17414000 3957009 3383348 101983814 99764751 77743 71634 27501141 28224412 149880519 148858145 X 122922023 124087610 109498875 88472192 158438765 181128852 390859663 393688654 540740182 542546799 X 27265676 -23465304 0 0 0 -971381 X 0 1 X 1 1 1 X 13378328 12523672 21177252 20359438 37208715 104647405 0 0 0 0 0 0 0 0 0 0 0 0 13378328 12523672 21177252 20359438 37208715 104647405 8187812 96459593 2141297 3073778 1720163 1471441 1553486 9960165 0 0 127207 317586 144650 589443 45007 50891 44285 52878 53154 246215 115443228 541757327 0.83556 0.82309 X Schedule A, Part II, Line 10 Fundraising events, see Schedule G, Part II. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 0 0 Schedule C, Part II-B, Line 1 The College pays membership dues to various organizations, some portion of which may be used for lobbying in connection with issues that impact higher education. 0 0 X X X X 0 0 1 X 261501358 14358147 -12743055 4779284 7360689 0 250976477 263892125 6070816 3132674 4838743 6755514 0 261501358 233803986 2225629 38893910 4537044 6494356 0 263892125 216156213 2436269 25761413 4389891 6160018 0 233803986 231451110 2176458 -6246499 4406836 6818020 0 216156213 0.124 0.597 0.279 0 0 1129558 2949907 4079465 5626996 198153481 79860333 123920144 619991 0 314074 305917 0 18681487 12560632 6120855 0 0 0 0 134426381 Equity Securities and Funds 55794812 F Venture Capital and Private Equity Partnerships 39207312 F Hedge Funds 73734630 F Real Estate, Commodity and Other Funds 5716545 F 174453299 Deposit with bond trustees 20363636 Perpetual and Remainder Trusts 11672582 Construction in Progress 45358321 77394539 Asset Retirement Obligations 6007832 Split Interest Agreement and Annuity Obligations 15870011 Federal Student Loans Payable 6346569 28224412 139854044 -23465304 0 0 0 -23465304 163319348 1638561 -590011 1048550 164367898 137025053 0 0 0 0 0 137025053 1638561 -1561392 77169 137102222 Schedule D, Part III, Line 1 The College's policy is not to capitalize collections, primarily art objects, as they are held for educational, research, and curatorial purposes. Each of these items are cataloged, preserved and cared for, and activities verifying their existence and assessing their condition are performed continuously. Any proceeds from the sale of collection items are used to acquire additional items for the collection. Schedule D, Part III, Line 4 The Museum of Art permanent collection is comprised of over 5,000 objects and growing, in large part due to the generosity of gifts of fine works of art from patrons. The collection is regularly studied by students across academic disciplines, and Museum of Art Interns and Independent Study students research and study objects from this vital college research field each semester. Their participation is frequently an important component of collection exhibits. The Museum of Art brings a world of ideas to Bates College and the State of Maine. Through temporary exhibitions, the permanent collection, programming and educational programs, the Museum of Art is an integral part of intellectual and cultural life of the College and region, serving as a laboratory for creative thought and social space where artists, curators, scholars, students and visitors engage with art together. Schedule D, Part IV, Line 2b Funds held on behalf of student groups for student-initiated activities. Schedule D, Part V, Line 4 The investment time horizon for the endowment is long-term, consistent with its expected perpetual life. The financial goals for the endowment are (a) to achieve investment returns, net of all costs of management, over full market cycles at least equal to the sum of the rate of inflation (Higher Education Price Index) and the spending rate, and (b) to provide a predictable and stable flow of funds for the operating budget of the College. Schedule D, Part XI, Line 4b Rental and fundraising expenses, $534,835 and $55,176 respectively, included in Part VIII, line 6b and 8b. Schedule D, Part XII, Line 4b Rental and fundraising expenses, $534,835 and $55,176 respectively, included in 990, Part VIII, line 6b and 8b; and loss from early extinguishment of debt of $971,381 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Admission publications include the College's racial non-discrimination policy. All admitted students and prospective students may access the College's non-discrimination policy online. The policy is included in several places on the College's official website including the Office of Equity and Diversity. Schedule E, Part I, Line 6 Government grants for faculty research; energy efficiency funding; federal student aid including the Pell Grant Program, Perkins Loan Program, Supplemental Educational Opportunity Grants, and Federal Workstudy. 1 Europe (including Iceland and Greenland) 0 4 Program Services Fall Semester Abroad Program 264070 Sub-Saharan Africa 0 1 Program Services 5-week short term educational program 70579 Europe (including Iceland and Greenland) 0 2 Program Services 5-week short term educational program 63824 East Asia and the Pacific 0 1 Program Services 5-week short term educational program 55393 South America 0 2 Program Services 5-week short term educational program 33186 Europe (including Iceland and Greenland) 0 4 Program Services Federally sponsored research 4582 Europe (including Iceland and Greenland) 0 36 Program Services Faculty and staff professional development, research, study abroad visits, student recruitment and Debate Team travel abroad 114253 East Asia and the Pacific 0 8 Program Services Faculty and staff professional development, research and student recruitment 41370 North America (including Canada and Mexico, but not the United States) 0 17 Program Services Faculty and staff professional development and research 25019 South America 0 5 Program Services Faculty professional development and student recruitment 19321 Sub-Saharan Africa 0 4 Program Services Faculty professional development and study abroad site visits 18867 South Asia 0 4 Program Services Faculty professional development and research 11672 Central America and the Caribbean 0 3 Program Services Faculty professional development, research and study abroad site visits 9242 Russia and the newly independent States 0 3 Program Services Faculty professional development and research 4075 Middle East and North Africa 0 1 Program Services Candidate travel 1305 Central America and the Caribbean 0 0 Investments 74928420 Europe (including Iceland and Greenland) 0 0 Investments Investment Book Value = $14,130,496; expenses total $22,233 14130496 North America (including Canada and Mexico, but not the United States) 0 0 Investments 541993 Europe (including Iceland and Greenland) 0 0 Grantmaking Need based financial aid 852447 East Asia and the Pacific 0 0 Grantmaking Need based financial aid 422429 South America 0 0 Grantmaking Need based financial aid 114489 Russia and the newly independent States 0 0 Grantmaking Need based financial aid 58896 Sub-Saharan Africa 0 0 Grantmaking Need based financial aid 41603 South Asia 0 0 Grantmaking Need based financial aid 38314 Central America and the Caribbean 0 0 Grantmaking Need based financial aid 6067 Middle East and North Africa 0 0 Grantmaking Need based financial aid 2506 0 95 91874418 Need based financial aid Europe (including Iceland and Greenland) 54 852447 Checks and wire 0 Need based financial aid East Asia and the Pacific 29 422429 Checks and wire 0 Need based financial aid South America 10 114489 Checks and wire 0 Need based financial aid Russia and the newly independent States 3 58896 Checks and wire 0 Need based financial aid Sub-Saharan Africa 5 41603 Checks and wire 0 Need based financial aid South Asia 4 38314 Checks and wire 0 Need based financial aid Central America and the Caribbean 1 6067 Checks and wire 0 Need based financial aid Middle East and North Africa 1 2506 Checks and wire 0 1 0 1 1 1 0 Schedule F, Part I, Line 2 For need based financial aid for students studying abroad, an official transcript from the institution abroad is obtained to confirm the student's study and proper use of funds. For each Fall Semester Abroad and Short Term educational programs, a comprehensive and detailed budget is prepared by the faculty member(s) and reviewed by the administration; disbursements are individually requested, reviewed, and compared to the budget; and receipts and subsequent expense reports are prepared by the faculty member(s) and reviewed by administration. For Federal Awards for research activities, a comprehensive budget and budget justification is approved by the Federal awarding agency, an annual independent single audit is conducted in accordance with Uniform Guidance compliance guidelines for federal spending. Schedule F, Part I, Line 3 Expenditures are recorded on the accrual basis of accounting. Schedule F, Part III Expenditures are recorded on the accrual basis of accounting. X X X X X X X 1 Core Group Inc 7149 Shady Oak Road Eden Prairie MN 553443516 Campaign planning and database forecasting 0 0 52155 -52155 Lindsay H Hancock 328 Center Road Gray ME 04039 Grantwriting 0 0 6862 -6862 James E Conway 4050 East Avenue Rochester NY 14618 Campaign planning and database forecasting 0 0 6050 -6050 0 65067 -65067 Football Golf Outing 53577 18396 35181 410 6799 21000 8508 0 1815 Basketball Golf Outing 26500 14802 11698 0 2569 4320 4124 0 0 2 9705 3430 6275 0 972 2355 2304 0 0 89782 36628 53154 410 10340 27675 14936 0 1815 55176 -2022 1 Bates Morse Mountain Conservation Area Corporation 221 Lane Hall 2 Andrews Road Lewiston ME 04240 010355490 13175 0 Payment to Town of Phippsburg in lieu of taxes 1 1 Need based financial aid including federal financial aid grants 795 0 29942250 Cash basis Need based financial aid grants Schedule I, Part I, Line 2 Grant funds are credited to student accounts in the form of need-based financial aid that reduce the comprehensive fee. X X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 A Clayton Spencer President 446148 0 0 0 0 0 31800 0 34974 0 512922 0 0 0 Geoffrey Swift VP Fin & Admin, Treasurer 268313 0 10000 0 0 0 12024 0 35101 0 325438 0 0 Sarah Pearson Vice President, College Advancement 289686 0 15000 0 158 0 31800 0 36063 0 372707 0 0 0 Matthew Auer VP Acad Affairs and Dean of Faculty 258188 0 0 0 0 0 30983 0 44423 0 333594 0 0 0 Joshua McIntosh VP Student Affairs, Dean of Students 194400 0 0 0 0 0 13212 0 39649 0 247261 0 0 0 Leigh Weisenburger Dean of Admission and Financial Aid 161146 0 0 0 0 0 19338 0 30114 0 210598 0 0 0 Michael Murray Professor 205738 0 0 0 0 0 24689 0 29257 0 259684 0 0 0 Thomas Wenzel Professor 146896 0 0 0 31748 0 17627 0 18446 0 214717 0 0 0 Randolph Shaw Assoc VP College Advancement 167558 0 0 0 0 0 15080 0 12519 0 195157 0 0 0 Kathryn Low Assoc Dean of Faculty, Professor 162224 0 0 0 1604 0 19467 0 25068 0 208363 0 0 0 Kevin McHugh Director Physical Education & Athletics 166739 0 0 0 0 0 20009 0 37348 0 224096 0 0 0 Margaret Kimmel Assoc VP Communications 80111 0 0 0 102440 0 7611 0 11383 0 201545 0 0 0 Eugene Wiemers VP Info & Library Services, Librarian 88885 0 0 0 45384 0 10666 0 13270 0 158205 0 0 0 Natalie Williamson Interim Treasurer 134008 0 0 0 0 0 16081 0 38751 0 188840 0 0 0 Schedule J, Part I, Line 1a Residence for personal use - Pursuant to employment agreements as a condition of employment and for the convenience of the College, a campus residence was provided to President A. Clayton Spencer, Vice President Sarah Pearson, VP and Dean of Faculty Matthew Auer, and VP and Dean of Students Joshua McIntosh; all are not considered taxable income. First class travel - the President has been approved to use first class travel for certain transcontinental business trips; these expenses are reviewed and monitored by the Vice President for Finance & Administration, and Treasurer and were utilized one time during the tax year and not considered taxable income. Personal services - the college pays reasonable housekeeping costs to maintain the President's house. Wages for housekeeping services for the President's personal use are reimbursed by the President and not included as taxable income. Schedule J, Part I, Line 7 Upon departure, Margaret Kimmel received $87,774 and Eugene Wiemers received $29,628. A Maine Health and Higher Educational Facilities Authority - 2008D 010314384 5604253L2 2008-12-03 15895000 Proceeds used to extinguish the series 2000A and 2000B bonds 0 0 1 B Maine Health and Higher Educational Facilities Authority - 2010A 010314384 560427GZ3 2010-04-22 13600000 Proceeds used to renovate and overhaul two residence halls for use as academic facilities 0 0 1 C Maine Health and Higher Educational Facilities Authority - 2013 010314384 560427ZQ2 2013-11-19 55410000 Refund 1997A, 2003B, partial 2006B, and construct a new student residence complex 0 0 0 D Maine Health and Higher Educational Facilities Authority - 2015 Bates 010314384 5604272PO 2015-07-08 27790000 Refund 2006B and costs of issuance 0 0 0 A 7960000 0 15996720 0 0 0 159433 0 0 0 15837287 0 2008 1 0 1 1 B 1220000 0 13799199 894556 761764 0 142794 0 0 12000085 0 0 2011 0 0 1 1 C 1465000 0 56539689 0 4812254 3060000 640746 0 0 26239143 5892401 15895145 1 1 0 1 D 0 0 28409141 0 0 28060511 348630 0 0 0 0 0 0 1 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 0 1 D 0 0 0 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part I-12/03/2008 15,895,000 Maine Health and Higher Educational Facilities The par value of the College's portion of the pooled bond issue is shown. The issue price listed on Form 8038, Part III, Line 21(b) includes total proceeds for all institutions of $41,658,395. Schedule K, Part I-04/22/2010 13,600,000 Maine Health and Higher Educational Facilities The par value of the College's portion of the pooled bond issue is shown. The issue price listed on Form 8038, Part III, Line 21(b) includes total proceeds for all institutions of $99,977,871. Schedule K, Part II, Line 3-12/03/2008 15,895,000 Maine Health and Higher Educational Facilities Proceeds include net premium proceeds of $101,720. Schedule K, Part II, Line 3-04/22/2010 13,600,000 Maine Health and Higher Educational Facilities Proceeds include net premium proceeds of $199,114 and investment income of $85. Schedule K, Part II, Line 3-11/19/2013 55,410,000 Maine Health and Higher Educational Proceeds include net premium proceeds of $889,991 and investment income of $239,698. Schedule K, Part II, Line 3-07/08/2015 27,790,000 Maine Health and Higher Educational Proceeds include net premium proceeds of $619,141. Family member of Trustee Family member of Trustee 1200 Cash award Student merit based fellowship John Gillespie Trustee 120995 Investment company transaction 0 Schedule L, Part IV Line (1)(d) - Trustee John Gillespie served as the managing member of an investment company that managed an investment vehicle that was liquidated during the tax year for $120,995. X 96 0 SFAS 116 X 165 3422452 Exchange Traded Securities X 31 0 SFAS 116 13 0 1 0 Schedule M, Part I, Line 33 Books and publications, scientific and other collectibles, works of art and historical artifacts were not reported on Form 990, Part VIII, line 1g, because the College does not capitalize its collections, as allowed under SFAS 116 (ASC 958-360-25). Reported on Schedule M, Part I, column (b) is the number of noncash items received. Form 990, Part V, Line 3b Form 990-T will be filed by the extended due date of May 15, 2017. Form 990, Part VI, Section A, Line 1a The Executive Committee is empowered to act for the Corporation when the Board is not meeting; minutes of Executive Committee meetings are distributed to all Trustees. Form 990, Part VI, Section A, Line 2 Trustees John Gillespie and John Rossello have a business relationship. Form 990, Part VI, Section B, Line 11b The return is reviewed by management and an independent accounting firm and then the Audit and Legal Affairs Committee reviews the return in detail; a copy of the return is provided to all board members for review and comment prior to filing. In order to honor the donor condition of anonymity with respect to certain gifts, donor names included on Schedule B were provided for review purposes only to the Board Chair and the College President. Form 990, Part VI, Section B, Line 12c An annual conflict of interest questionnaire is distributed to all board members, institutional officers, key employees, and other personnel with purchasing responsibilities. Responses are reviewed and evaluated by a sub-committee of the Audit and Legal Affairs Committee of the Board of Trustees and reported to the Audit and Legal Affairs Committee and the full board annually. Individuals with a conflict recuse themselves from deliberations, decisions and votes pertaining to conflict. Form 990, Part VI, Section B, Line 15 Annually, the President makes recommendations for the officers and key employees other than herself, to the compensation subcommittee which is a subcommittee established by the executive committee of the Board of Trustees and includes the Board Chair and the Chairs of the following committees: Academic Affairs, Budget and Finance, and Audit and Legal Affairs, all of whom are independent. The compensation subcommittee evaluates these recommendations and determines the President's compensation in conjunction with a report prepared by an outside consultant that presents comparable data from 25 peer schools. The compensation subcommittee reviews and approves compensation which is documented and signed by the Board Chair. Form 990, Part VI, Section C, Line 18 The College's Form 990 is available through Guidestar.org Form 990, Part VI, Section C, Line 19 The Financial Statements are available on the College's website. Other documents provided upon request. Form 990, Part XI, Line 9 Loss from early extinguishment of debt $971,381. Charitable Remainder Trusts (8) 2 Andrews Rd Lewiston ME 04240 Trust ME President and Trustees of Bates College T 1 Pooled Income Trusts (2) 2 Andrews Rd Lewiston ME 04240 Trust ME President and Trustees of Bates College T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 Pooled Income Trusts (2) s 163982 Trust maturity cash distribution of unitized amount.