2011-05-16T14:39:40-05:00 2010-06-30 DEAN DORTON ALLEN FORD PLLC 106 W VINE STREET SUITE 600 LEXINGTON KY 40507 990 2009-07-01 610444695 georgetown college GEOR 5028638016 400 east college street georgetown KY 40324 JAMES MOAK 5028638016 2011-05-16 1 Dean Dorton Ford PSC 8592552341 2009 2016-02-24 21:20:13Z JAMES MOAK 400 east college street georgetown KY 40324 60671296 0 X WWW.GEORGETOWNCOLLEGE.EDU X 1829 KY GEORGETOWN COLLEGE IS A FULLY ACCREDITED LIBERAL ARTS INSTITUTION OF HIGHER LEARNING 31 28 1089 33 711009 -129159 6528366 4644364 34303426 36821643 1421638 1131050 8448299 8839288 50701729 51436345 16839142 18528351 0 18878530 18781820 0 1161714 14718718 14702701 50436390 52012872 265339 -576527 89407885 92685189 54205551 56134958 35202334 36550231 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 43822424 18528351 42586874 OPERATION OF A HIGHER EDUCATIONAL INSTITUTION PROVIDING EDUCATION, HOUSING, AND FOOD SERVICES TO STUDENTS AND FACULTY. THE COLLEGE EDUCATED 1,335 UNDERGRADUATE AND 547 GRADUATE STUDENTS FOR THE YEAR ENDED 6/30/10. 43822424 1 1 0 1 0 0 1 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 1 1 1 1 0 0 0 1 0 0 0 1 2743 0 1 1089 1 1 1 0 0 0 0 1 1 1 1 0 0 31 28 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 0 KY X X JAMES MOAK 5028637970 400 east college street georgetown KY 40324 BOB COLEMAN 2.00 X 0 0 0 BOB HOOK 2.00 X 0 0 0 CARROLL STEVENS 2.00 X 0 0 0 DAVID JONES 2.00 X 0 0 0 DAVID TRAVIS 2.00 X 0 0 0 DOUGLAS FREEMAN 2.00 X 0 0 0 EARL GOODE 2.00 X 0 0 0 FRANK PENN 2.00 X 0 0 0 FRED BROWNING 2.00 X 0 0 0 GERALD PARKER 2.00 X 0 0 0 GUTHRIE TRUE 2.00 X 0 0 0 JACK REED 2.00 X 0 0 0 JAMES SHEPHERD 2.00 X 0 0 0 JAMIE HARGROVE 2.00 X 0 0 0 JANICE SHELTON 2.00 X 0 0 0 JOHN STEMPEL 2.00 X 0 0 0 JOHN WARD 2.00 X 0 0 0 MIKE SCANLON 2.00 X 0 0 0 MISSY MATTHEWS 2.00 X 0 0 0 NICOLE B COLLINSON 2.00 X 0 0 0 NORMAN DANIELS 2.00 X 0 0 0 PAIGE SHORT 2.00 X 0 0 0 RANDY FIELDS 2.00 X 0 0 0 RANDY FOX 2.00 X 0 0 0 REZA HASHAMPOUR 2.00 X 0 0 0 RICHARD GAINES 2.00 X 0 0 0 RICHARD WARD 2.00 X 0 0 0 SHEILA BAILEY 2.00 X 0 0 0 WADE DOSHIER 2.00 X 0 0 0 WILLIAM BARNETT 2.00 X 0 0 0 WILLIAM J HOUSTON 2.00 X 0 0 0 todd skaggs 2.00 X 0 0 0 BI HOUSTON 2.00 X 0 0 0 rosemary allen 50.00 X 121453 0 7640 william h crouch jr 50.00 X 441797 0 28125 darryl callahan 50.00 X 134393 0 7949 james moak 50.00 X 130429 0 8078 garvel kindrick 50.00 X 103985 0 6941 todd gambill 50.00 X 103454 0 6968 james allison 50.00 X 66156 0 5457 ROBIN OLDHAM 50.00 X 63795 0 5473 DANIEL MILLER 50.00 X 117131 0 7411 EVE PROFFITT 50.00 X 101463 0 3487 1384056 0 87529 8 0 1 0 SODEXO MANAGEMENT INC 299 KINGS DAUGHTERS DR FRANKFORT KY 40601 DINING SERVICES 2736025 PEARCE-BLACKBURN ROOFIN 309 BLUE SKY PKWY LEXINGTON KY 40509 ROOF REPAIRS 348555 DAVIS & PLOMIN INCORPORATED 949 CONTRACT STREET PO BOX 55350 LEXINGTON KY 40505 HEATER/COOLER REPAIRS 296997 MADE FROM SCRATCH INC 100 STADIUM DR GEORGETOWN KY 40324 CATERING 208782 benefit marketing solutions llc po box 43653 louisville KY 40253 cafeteria plan tpa 168165 7 136010 1239340 3269014 214816 4644364 tuition and fees 611710 36821643 36821643 36821643 1493127 1493127 59050 45828 13222 13222 13222 5003940 5297679 68338 -293739 -68338 -362077 -362077 0 136010 72756 -72756 -72756 6186154 3750350 2435804 2435804 auxiliary enterprises 611710 4731528 4731528 parking and camp 531390 285732 285732 athletics 713940 223717 223717 1222041 809986 412055 6463018 51436345 42586874 711009 3494098 18528351 18528351 1348899 1348899 13999658 11677947 1627475 694236 3433263 2843591 475294 114378 11963 536 11427 72546 72546 796359 489851 219103 87405 78600 12401 66199 3345812 3210278 100153 35381 242991 242991 1759941 500311 1259630 143274 68280 50412 24582 2281699 2175933 105766 2644216 2644216 355195 70355 284840 repairs & maintenance 757840 107387 650453 student programs 612574 612574 athletic programs 485395 485395 miscellaneous 411467 150880 182999 77588 supplies 278207 230137 48070 424622 1147 409600 13875 52012872 43822424 7028734 1161714 1321068 2346419 4004 41191 2369753 848666 3087783 3313092 862636 737791 487642 511181 87553440 43503097 44548182 44050343 30174921 34008690 6551896 6827816 89407885 92685189 2476720 2913951 698193 652970 38615000 38015000 316356 12415638 14236681 54205551 56134958 X -3262844 -2021074 4869475 4119795 33595703 34451510 35202334 36550231 89407885 92685189 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 55 55 0 Part II-B, Line 1i: Explanation of Other Lobbying Activities: THE COLLEGE PAYS DUES TO THE KENTUCKY SOCIETY OF CPAS AND THE AMERICAN BAR ASSOCIATION OF WHICH A PERCENTAGE OF THOSE DUES ARE USED FOR LOBBYING PURPOSES. DUES PAID TO THE KENTUCKY SOCIETY OF CPAS WERE $450 OF WHICH 10% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE AMERICAN BAR ASSOCIATION WERE $399 OF WHICH 2.5% WAS USED FOR LOBBYING PURPOSES. 946707 X X X X ART HISTORY AND STUDIO 0 29348535 284652 540024 129041 30044170 30157392 417706 -1110022 116541 29348535 0.03840 0.94140 0.02020 1 0 871203 871203 55485894 19819885 35666009 5558079 4345655 1212424 24052336 18771544 5280792 1585928 566013 1019915 44050343 DEPOSITS 250000 BOND ISSUANCE COSTS 362995 FUNDS HELD IN TRUST BY OTHERS 5535081 OTHER ASSETS 679740 6827816 DEPOSITS AND AGENCY FUNDS 1004001 ADVANCES FOR STUDENT LOANS 1580863 ASSET RETIREMENT OBLIGATION 1025113 INTEREST RATE SWAP AGREEMENT 6942004 POST RETIREMENT BENEFIT OBLIGATION 1544514 ANNUITY PMT LIABILITY 2140186 14236681 51436345 52012872 -576527 3869630 -1945206 1924424 1347897 40646558 3869630 3868934 7738564 32907994 18528351 18528351 51436345 39298661 5814140 5814140 33484521 18528351 18528351 52012872 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: Description of Intended Use of Endowment Funds: 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 X: Description of Uncertain Tax Positions Under FIN 48: THE COLLEGE ADOPTED THE PROVISIONS OF FASB ASC 740-10 RELATING TO UNCERTAINTY IN INCOME TAXES ON JUNE 30, 2009. THE IMPLEMENTATION INCLUDED EVALUATING THE TAX POSITIONS TAKEN ON ALL INCOME TAX RETURNS THAT REMAIN OPEN TO EXAMINATION BY THE RESPECTIVE TAXING AUTHORITIES. THE COLLEGE DOES NOT BELIEVE THAT THERE ARE ANY UNCERTAIN TAX POSITIONS ON THOSE RETURNS THAT MEET THE REQUIREMENT OF FASB ASC 740-10 AND, THEREFORE, SHOULD BE REFLECTED IN THE FINANCIAL STATEMENTS. Part XI, Line 8 - Other Adjustments: change in fmv of swap agreement: -1644713. annuities and life income funds: -300493. Part XII, Line 2d - Other Adjustments: cost of goods sold netted against revenue on form 990: 3750350. rental expenses netted against revenue on form 990: 45828. special event expenses netted against revenue on form 990: 72756. Part XII, Line 4b - Other Adjustments: scholarships netted against tuition revenue on financial statements: 18528351. Part XIII, Line 2d - Other Adjustments: cost of goods sold netted against revenue on form 990: 3750350. rental expenses netted against revenue on form 990: 45828. special event expenses netted against revenue on form 990: 72756. change in fmv of interest rate swap: 1644713. adjustment for actuarial liability for annuities and life income funds: 300493. Part XIII, Line 4b - Other Adjustments: scholarships netted against tuition revenue on financial statements: 18528351. 1 1 1 PRINT ADVERTISING FOR GEORGETOWN COLLEGE THAT TARGETS PROSPECTIVE STUDENTS INCLUDES THE STATEMENT "GEORGETOWN COLLEGE ADMITS STUDENTS OF ANY RACE, COLOR AND NATIONAL OR ETHNIC ORIGIN." THE SAME STATEMENT APPEARS ON PRINTED MATERIALS, E.G. BROCHURES AND FLYERS, DISTRIBUTED TO PROSPECTIVE STUDENTS. THERE WAS, HOWEVER, A DOCUMENT KNOWN AS THE VIEW BOOK, WHICH WAS PRINTED THAT DID NOT INCLUDE THE NON- DISCRIMINATION STATEMENT. THAT HAS BEEN CORRECTED AND FUTURE PRINTINGS WILL HAVE THE STATEMENT. GEORGETOWN COLLEGE'S LIMITED AMOUNT OF BROADCAST ADVERTISING WAS INSTITUTIONAL IN NATURE AND DID NOT INCLUDE THE STATEMENT SINCE IT WAS NOT DIRECTED SPECIFICALLY TO PROSPECTIVE STUDENTS. THE TELEVISION COMMERCIAL DID DEPICT THE PRESENCE OF PERSONS OF COLOR THEREBY INDICATING ACCEPTANCE OF MINORITIES ON THE COLLEGE'S CAMPUS. FUTURE ITERATIONS WILL INCLUDE THE NON-DISCRIMINATION STATEMENT. THE COLLEGE HAS BEEN AND CONTINUES TO BE RECOGNIZED NATIONALLY FOR ITS DIVERSITY INITIATIVES. ARTICLES ABOUT THE 1 1 1 1 0 0 0 0 0 0 0 0 1 0 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. 1 East Asia and the Pacific PROGRAM SERVICE STUDY ABROAD 12274 Europe (Including Iceland & Greenland) PROGRAM SERVICE STUDY ABROAD 256199 Europe (Including Iceland & Greenland) PROGRAM SERVICE HONORARIUM PERFORMANCE OF PLAY, "THE COUNTRY BOY" 2400 0 0 270873 golf tournament 136010 136010 72756 136010 136010 72756 72756 -72756 1 SCHOLARSHIPS 1281 18528351 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, 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 X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 william h crouch jr 197810 0 201614 0 42373 0 7210 0 20915 0 469922 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. CELLULAR PHONE FRINGE BENEFITS ARE GROSSED UP FOR TAX TREATMENT. THE PRESIDENT RESIDES IN A DWELLING OWNED BY THE COLLEGE, WHICH IS PROVIDED TO HIM FOR HIS USE. THE COLLEGE PAYS THE SOCIAL CLUB DUES FOR THE PRESIDENT. Supplemental Information Part III DESCRIPTION OF BONUS IN PART II, B(II): UNDER DR. CROUCH'S 2002 EMPLOYMENT CONTRACT, HE WAS TO RECEIVE THIS BONUS IF HE WERE PRESIDENT OF THE COLLEGE AS OF THE END OF HIS EMPLOYMENT CONTRACT. DR. CROUCH MET THE CRITERIA FOR THE BONUS. 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 39640000 39126304 513696 2006 0 1 1 1 1 1 1 FIFTH THIRD BANK 24.000000000000 0 0 0 RELATIVES OF OFFICERSTRUSTEES OFFICERS/TRUSTEES $71,424 SCHOLARSHIPS Amount $ 71424. MIKE SCANLON TRUSTEE 30000 IN SEPTEMBER 2003, THE COLLEGE ENTERED INTO A 10-YEAR LEASE, LICENSE, AND NAMING RIGHTS AGREEMENT FOR ITS CONFERENCE CENTER WITH A COMPANY OF WHICH MR. SCANLON IS A SIGNIFICANT OWNER AND CHIEF FINANCIAL OFFICER. THE COLLEGE RECEIVES $30,000 IN RENTAL INCOME FROM THE COMPANY EACH YEAR FOR FIVE ROOMS AT THE CONFERENCE CENTER. IF THE ROOMS ARE NOT IN USE, THE COLLEGE MAY RENT FOUR OF THE ROOMS TO OTHERS. THE COLLEGE'S ANALYSIS IS THAT THE RENTAL PAYMENT TO THE COLLEGE IS AT FAIR MARKET VALUE FOR SIMILARLY SITUATED PROPERTIES. 0 PAIGE SHORT TRUSTEE 15975 MS. SHORT LEASES A BUILDING WITH THE COLLEGE THAT HOUSES THE EQUINE SCHOLARS PROGRAM. THE LEASE WAS ENTERED INTO BEFORE MS. SHORT BECAME A TRUSTEE. THE COLLEGE BELIEVES THE RENTAL PAYMENTS ARE AT FAIR MARKET VALUE FOR SIMILAR PROPERTIES. 0 DR TODD COKE HUSBAND OF COLLEGE PROVOST, DR. ROSEMARY ALLEN 66383 DR. TODD COKE HAS BEEN A MEMBER OF THE COLLEGE FACULTY FOR OVER 20 YEARS. DR. ALLEN IS THE PROVOST AND IS RESPONSIBLE FOR ACADEMIC PROGRAMS ON CAMPUS. DR. COKE'S COMPENSATION FOR THE YEAR ENDED 6/30/10 WAS $66,383 IN SALARY, PLUS STANDARD COLLEGE BENEFITS. 0 X 9 204415 fair market value X tickets to sporting/art events 2 392 comparable sales X horse boarding 1 1100 comparable sales X MISCELLANEOUS 1 170 COmparable sales X EXPENSES PAID FOR SEMINAR TRIPS 1 3342 fair market value X costumes for opera house 1 2130 fair market value X FURNITURE 2 2770 COmparable sales X AIR CONDITIONERS 1 497 COmparable sales 0 1 0 Form 990, Part VI, Section A, line 2 TRUSTEES, JOHN WARD AND RICHARD WARD, HAVE A FAMILY RELATIONSHIP. JOHN WARD IS THE SON OF RICHARD WARD. Form 990, Part VI, Section B, line 11 THE COLLEGE FORWARDS A PDF FILE OF FORM 990 TO THE TRUSTEES ON THE EXECUTIVE/FINANCE COMMITTEE CONCURRENTLY WITH THE FILING OF THE RETURN. IN THE AUGUST MEETING, COLLEGE MANAGEMENT WILL GUIDE THE EXECUTIVE/FINANCE COMMITTEE THROUGH THE RETURN AS 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 BUSINESS DEALINGS 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 INFORMATION RETURNS. 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, IF APPROPRIATE. FORM 990, PART XI, 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. Schedule L: THE GRANTS/ASSISTANCE AWARDED TO INTERESTED PERSONS ON SCHEDULE L WERE AWARDED IN THE ORDINARY COURSE OF BUSINESS. SCHOLARSHIPS WERE BASED ON THE COLLEGE'S USUAL AND CUSTOMARY CRITERIA FOR GRANTING SCHOLARSHIPS. FORM 990, PART VI, LINE 9 MR. RICHARD WARD CANNOT BE REACHED AT THE COLLEGE'S ADDRESS BECAUSE HE DIED ON AUGUST 4, 2009. georgetown college foundation inc 400 east college street georgetown KY 40324 611228041 supporting organization for georgetown college KY 501(c)(3) 11a N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0