2022-05-11T14:53:47-05:00 2021-06-30 273858252 DEAN DORTON ALLEN FORD PLLC 250 W MAIN STREET STE 1400 LEXINGTON KY 40507 990 2020-07-01 610444695 GEORGETOWN COLLEGE GEOR 5028638016 400 EAST COLLEGE STREET GEORGETOWN KY 40324 DAVID WILHITE CFO 5028638016 2022-05-11 1 DAVID WILHITE 999009999 ALLISON C CARTER P01242412 8592552341 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z DAVID WILHITE 400 EAST COLLEGE STREET GEORGETOWN KY 40324 69952573 0 X WWW.GEORGETOWNCOLLEGE.EDU X 1829 KY GEORGETOWN COLLEGE IS A FULLY ACCREDITED LIBERAL ARTS INSTITUTION OF HIGHER LEARNING 28 26 983 51 4893 0 8345245 10610160 38687635 44195316 2107700 3843202 7878705 8037792 57019285 66686470 27291281 33657392 0 0 16829662 15625576 0 0 1208348 12057271 13808291 56178214 63091259 841071 3595211 82979191 89699386 40898511 38223587 42080680 51475799 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 51544296 33657392 49514362 OPERATION OF A HIGHER EDUCATIONAL INSTITUTION PROVIDING EDUCATION, HOUSING, AND FOOD SERVICES TO STUDENTS AND FACULTY. THE COLLEGE EDUCATED 1,163 UNDERGRADUATE AND 538 GRADUATE STUDENTS FOR THE YEAR ENDED 6/30/21. 51544296 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 0 1 0 1 0 1 0 0 0 0 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 2299 0 1 983 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 28 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 KY X DAVID WILHITE 5028638016 400 EAST COLLEGE STREET GEORGETOWN KY 40324 WILLIAM JONES PRESIDENT 50.00 X 301710 0 10080 DAVID WILHITE VP, CFO, TREASURER 50.00 X 131697 0 6289 ROSEMARY ALLEN PROVOST, DEAN OF THE COLLEGE (ACTING PRESIDENT JUN 50.00 X 138775 0 6379 JOHN DAVIS VP FOR INSTITUTIONAL ADVANCEMENT 50.00 X 170036 0 6803 BRIAN EVANS VP FOR DIVERSITY AND INCLUSION 50.00 X 125724 0 5866 CURTIS SANDBERG DEAN OF STUDENTS 50.00 X 109549 0 5745 LEAH STUBBS SECRETARY TO THE BOARD OF TRUSTEES 50.00 X 56053 0 1021 JONATHAN SANDS WISE VP FOR ENROLLMENT MANAGEMENT 50.00 X 100860 0 6161 SALLY WIATROWSKI VP FOR BUSINESS OPERATIONS 50.00 X 74343 0 1336 WILLIAM CRONIN HEAD FOOTBALL COACH 50.00 X 128896 0 8512 CHRISTY MAI ASSOC VP FOR ADVANCEMENT AND COMMUNITY RELATIONS 50.00 X 111038 0 8512 THOMAS COOPER BUSINESS DEPARTMENT HEAD 50.00 X 104835 0 8512 WILLIAM HOUSTON TRUSTEE 2.00 X 0 0 0 DAVID ADKISSON TRUSTEE 2.00 X 0 0 0 TUCKER BALLINGER TRUSTEE 2.00 X 0 0 0 ROBERT BAKER TRUSTEE 2.00 X 0 0 0 JOHN BLACKBURN TRUSTEE 2.00 X 0 0 0 GRANETTA BLEVINS TRUSTEE 2.00 X 0 0 0 NORM BROWN TRUSTEE 2.00 X 0 0 0 HORACE HAMBRICK TRUSTEE 2.00 X 0 0 0 MELANIE LADD TRUSTEE 2.00 X 0 0 0 ROBERT MILLS JR 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 SARAH BOOKIE WILSON 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 MICHELLE PEDIGO TRUSTEE 2.00 X 0 0 0 SHARON CLIFTON TRUSTEE 2.00 X 0 0 0 TRACEY CLARK TRUSTEE 2.00 X 0 0 0 JOHN COCHENOUR TRUSTEE 2.00 X 0 0 0 JANE CUTTER TRUSTEE 2.00 X 0 0 0 KENNY DAVIS TRUSTEE 2.00 X 0 0 0 VICKIE GLISSON TRUSTEE 2.00 X 0 0 0 DAVID LEE TRUSTEE 2.00 X 0 0 0 MISSY MATTHEWS TRUSTEE 2.00 X 0 0 0 NICOLE COLLINSON TRUSTEE 2.00 X 0 0 0 GERALD PARKER TRUSTEE 2.00 X 0 0 0 JOHN TRAVIS TRUSTEE 2.00 X 0 0 0 MEOCHA WILLIAMS TRUSTEE 2.00 X 0 0 0 GREG BARR TRUSTEE (PARTIAL YEAR) 2.00 X 0 0 0 HOWARD ENSOR TRUSTEE (PARTIAL YEAR) 2.00 X 0 0 0 RANDY FIELDS TRUSTEE (PARTIAL YEAR) 2.00 X 0 0 0 GUTHRIE ZARING TRUSTEE (PARTIAL YEAR) 2.00 X 0 0 0 1553516 0 75216 10 0 1 0 SODEXO INC & AFFILIATES MIGUEL RIVAS GEORGETOWN COLLEGE GEORGETOWN KY 40324 DINING SERVICES 2543913 K-12 TEACHERS ALLIANCE EDUCATORS ADVANCEMENT GROUP INC 2 FRANKFORT IL 60423 STUDENT RECRUITING 736902 NAT MANAGEMENT RESOURCES CORP P O BOX 1224 LAGRANGE GA 30241 MAINTENANCE SERVICES 378105 JENZABAR INC P O BOX 55018 BOSTON MA 02205 SOFTWARE SUPPORT 271054 JPJS OPERATIONS INC 731 RED MILE RD LEXINGTON KY 40504 REPAIRS/CONSTRUCTION 213012 10 3067706 7542454 724258 10610160 TUITION AND FEES 611710 44195316 44195316 44195316 1438957 1438957 51003 242578 -191575 -191575 900 -192475 2404245 0 2404245 2404245 2404245 5929853 3023525 2906328 2906328 AUXILIARY ENTERPRISES REVENUE 611710 4505080 4505080 OTHER INSTITUTIONAL PROGRAMS 611710 376808 376808 RECOVERY OF LOST REVENUE 900099 250000 250000 191151 187158 3993 5323039 66686470 49514362 4893 6557055 33657392 33657392 1318178 1142699 175479 11782713 10295262 789608 697843 495289 390977 82926 21386 1831174 1414359 329829 86986 198222 149549 39250 9423 57752 57752 75192 75192 217139 217139 3796032 1220032 2551000 25000 1814146 979060 703802 131284 682444 402949 279495 915135 150108 747570 17457 227296 215764 6872 4660 725155 7252 717903 1824543 1824543 316419 316419 MISCELLANEOUS 1797448 1419738 363104 14606 SUPPLIES 904331 787545 92562 24224 CAMPUS EXPENSES 455259 454309 950 63091259 51544296 10338615 1208348 2235061 1090629 65300 65300 29121 0 2013405 2263946 4809 4809 236908 266682 101244008 63942677 37827019 37301331 32740111 39028368 7827457 9678321 82979191 89699386 2197122 2815227 386083 187251 31920000 31920000 2786726 62211 3608580 3238898 40898511 38223587 X -3951062 -2489807 46031742 53965606 42080680 51475799 82979191 89699386 X 3595211 5854888 -54980 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 1 585 585 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 $4,175 OF WHICH 7% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE KENTUCKY CHAMBER OF COMMERCE WERE $1,470 OF WHICH 15% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE KENTUCKY SOCIETY OF CPAS WERE $690 OF WHICH 5% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE COMMERCE LEXINGTON WERE $748 OF WHICH 5% WAS USED FOR LOBBYING PURPOSES. 1153643 X X X X ART HISTORY AND STUDIO 0 30220745 415776 7067289 1504779 36199031 33751119 300987 -185617 3645744 30220745 34738699 252135 1537641 2777356 33751119 32909784 1073779 1567850 812714 34738699 30905168 364356 2428305 788045 32909784 0.00000 0.76044 0.23956 1 0 1362920 1362920 70517297 38674792 31842505 27660054 24727167 2932887 1703737 540718 1163019 37301331 FUNDS HELD IN TRUST BY OTHERS 8224671 OTHER ASSETS 1453650 9678321 DEPOSITS AND AGENCY FUNDS 309694 ADVANCES FOR STUDENT LOANS 591932 ASSET RETIREMENT OBLIGATION 1786193 ANNUITY PMT LIABILITY 748378 BOND ISSUANCE COSTS -197299 3238898 41877950 5854888 3266103 9120991 32756959 217139 33712372 33929511 66686470 32482831 3266103 3266103 29216728 217139 33657392 33874531 63091259 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 3,023,525. RENTAL EXPENSES NETTED AGAINST REVENUE ON FORM 990 242,578. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST TUITION REVENUE ON FINANCIAL STATEMENTS 33,657,392. CHANGE IN ACTUARIAL LIABILITY FOR ANNUITIES AND LIFE INCOME FUNDS 54,980. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED AGAINST REVENUE ON FORM 990 3,023,525. RENTAL EXPENSES NETTED AGAINST REVENUE ON FORM 990 242,578. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST TUITION REVENUE ON FINANCIAL STATEMENTS 33,657,392. 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 OR ETHNIC ORIGIN, SEX, SEXUAL ORIENTATION, GENDER, GENDER IDENTITY, AGE DISABILITY, OR VETERAN STATUS". 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. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PROGRAM SERVICE STUDY ABROAD 147996 EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PROGRAM SERVICE REGENT'S PARK COLLEGE PROGRAMS 40227 0 0 0 0 0 0 188223 0 188223 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS 1098 33657392 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 JONES PRESIDENT 301710 0 0 0 0 0 6000 0 4080 0 311790 0 0 0 JOHN DAVIS VP FOR INSTITUTIONAL ADVANCEMENT 170036 0 0 0 0 0 3248 0 3555 0 176839 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. CERTAIN 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. 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 0 0 0 0 0 0 0 A 1 1 1 FIFTH THIRD BANK 24.000000000000 1 0 0 0 1 A 1 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 50778 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 6/30/21 WAS $50,778 IN SALARY PLUS THE COLLEGE'S STANDARD BENEFITS 0 MR BI HOUSTON TRUSTEE 35000 MR. B.I. HOUSTON'S WIFE, DEBBIE, WAS ON THE BOARD OF THE BAPTIST SEMINARY OF KENTUCKY. BEGINNING IN JUNE 2010, THE BAPTIST SEMINARY OF KENTUCKY ENTERED INTO A LEASE AGREEMENT WITH RENTALS BEGINNING ON AUGUST 1, 2010 FOR SPACE IN THE COLLEGE'S LEARNING RESOURCE CENTER. THE BAPTIST SEMINARY OF KENTUCKY PAYS THE COLLEGE $35,000 IN RENT ANNUALLY. THIS AGREEMENT WAS NEGOTIATED IN GOOD FAITH BY THE MANAGEMENT OF BOTH PARTIES. 0 AMY JONES WIFE OF PRESIDENT, WILLIAM JONES 25000 AMY JONES, WIFE OF FORMER PRESIDENT, WILLIAM JONES, RECEIVED AN ANNUAL SALARY OF $25,000 AS COMPENSATION FOR HER DUTIES INVOLVING THE HOSTING OF EVENTS AT THE PRESIDENT'S HOUSE. 0 X 8 77997 FAIR MARKET VALUE X 2 645623 COVID TESTS/VACCINATIONS X PHONE EQUIPMENT 1 638 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, EXCEPT (A) IN RESPONSE TO A DONOR'S REQUEST, (B) FOR A GRANT APPLICATION, OR (C) WHEN PROVIDED TO A VENDOR TO OBTAIN CREDIT. THE COLLEGE'S CONFLICT OF INTEREST POLICY IS PART OF THE COLLEGE'S POLICIES AND PROCEDURES, WHICH IS AVAILABLE ON THE COLLEGE'S WEBSITE. 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 IN 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: ANNUITIES AND LIFE INCOME FUNDS -54,980. 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. EFFECTIVE JANUARY 1, 2021, THE BOARD OF TRUSTEES ESTABLISHED SEPARATE EXECUTIVE AND FINANCE COMMITTEES AS PART OF ITS REVISED GOVERNANCE STRUCTURE. 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 CHARITABLE REMAINDER UNITRUST BENEFICIAL TRUST KY N/A 0 CHARITABLE REMAINDER ANNUITY TRUST BENEFICIAL TRUST KY N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0