2017-05-15T15:59:57-05:00 2016-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2015-07-01 560529961 DAVIDSON COLLEGE % LORI B GASTON DAVI 7048742210 POST OFFICE BOX 7162 Davidson NC 280357162 EDWARD A KANIA ASST SEC & VP OF FIN 7048742210 2017-05-15 true ALLISON H FRANKLIN P00448640 3362753394 2017-05-15 2015 2021-01-29 14:40:06Z CAROL QUILLEN PO BOX 7162 DAVIDSON NC 280357162 344711123 false X HTTP://WWW.DAVIDSON.EDU X 1837 NC UNDERGRADUATE LIBERAL ARTS EDUCATION 45 44 2292 1497 -822903 -865378 50824777 38991682 80460957 85925851 62439893 57902016 4416432 2823331 198142059 185642880 40812529 43709479 0 0 63246037 63521003 51117 49735 9253498 37733588 35908577 141843271 143188794 56298788 42454086 1103702020 1079389702 119623160 114389089 984078860 965000613 X UNDERGRADUATE LIBERAL ARTS EDUCATION false false 48147797 85925851 INSTRUCTION AND ACADEMIC PROGRAMS LEADING TO B.S. AND B.A. DEGREES FOR DAVIDSON STUDENTS. THIS INCLUDES SUPPORT OF INTERNATIONAL STUDENTS STUDYING AT DAVIDSON AND DAVIDSON STUDENTS STUDYING ABROAD. 43646979 43646979 NEED-BASED AND MERIT AID AWARDED TO STUDENTS. 12773604 STUDENT SUPPORT SERVICES INCLUDING THE COLLEGE UNION, ON-SITE MEDICAL CARE, STUDENT COUNSELING, CAREER SERVICES, COMMUNITY SERVICE PROGRAMS AND THE OFFICES OF ADMISSION AND FINANCIAL AID. 14567871 62500 119136251 true true false false false false false false false true true true false false true true true false true true true false false true false false false true true true true false false false false false false false false false true true true false false false true false false false true X 591 0 true 2292 true true true true CY FR UK false false false true true true 1 false false true false false false false X 45 44 false false false false false false false true true false false true true true true true true true true false AK CO DC KY MD MA MI NV NH NJ NY OH OK OR SC WA X X LORI B GASTON 7048942210 PO BOX 7162 DAVIDSON NC 280357162 ROBERT J ABERNETHY TRUSTEE 1.0 0.0 X 0 0 0 KENNETH S CREWS TRUSTEE 1.0 0.0 X 0 0 0 RICHARD N BOYCE TRUSTEE 1.0 0.0 X 0 0 0 F COOPER BRANTLEY TRUSTEE 1.0 0.0 X 0 0 0 DAVID BARNARD TRUSTEE 1.0 0.0 X 0 0 0 JOHN W CHIDSEY III CHAIR, BOARD OF TRUSTEES 1.0 0.0 X X 0 0 0 ROBERT B CORDLE TRUSTEE 1.0 0.0 X 0 0 0 E RHYNE DAVIS SECRETARY, BOARD OF TRUSTEES 1.0 0.0 X X 0 0 0 VIRGINIA T EVANS TRUSTEE 1.0 0.0 X 0 0 0 MARK W FILIPSKI TRUSTEE 1.0 0.0 X 0 0 0 LEWIS F GALLOWAY TRUSTEE 1.0 0.0 X 0 0 0 J CHRISMAN HAWK III TRUSTEE 1.0 0.0 X 0 0 0 EARL J HESTERBERG TRUSTEE 1.0 0.0 X 0 0 0 LAURIE L DUNN TRUSTEE 1.0 0.0 X 0 0 0 JAY EVERETTE TRUSTEE 1.0 0.0 X 0 0 0 BEVERLY HANCE TRUSTEE 1.0 0.0 X 0 0 0 GREGORY F MURPHY TRUSTEE 1.0 0.0 X 0 0 0 GARY S LONG TRUSTEE 1.0 0.0 X 0 0 0 PREM MANJOORAN TRUSTEE 1.0 0.0 X 0 0 0 ALISON H MAUZE TRUSTEE 1.0 0.0 X 0 0 0 KEN KRIEG TRUSTEE 1.0 0.0 X 0 0 0 ANDREW A MCELWEE JR VICE CHAIR, BOARD OF TRUSTEES 1.0 0.0 X X 0 0 0 SHANNON WALTERS MCFAYDEN TRUSTEE 1.0 0.0 X 0 0 0 MARIAN M NISBET TRUSTEE 1.0 0.0 X 0 0 0 THOMAS W OKEL TRUSTEE 1.0 0.0 X 0 0 0 SARA TATUM POTTENGER TRUSTEE 1.0 0.0 X 0 0 0 ELEANOR KNOBLOCH RATCHFORD TRUSTEE 1.0 0.0 X 0 0 0 ERNEST W REIGEL TRUSTEE 1.0 0.0 X 0 0 0 VIRGINIA MCGEE RICHARDS TRUSTEE 1.0 0.0 X 0 0 0 SUSAN CASPER SHAFFNER TRUSTEE 1.0 0.0 X 0 0 0 MITZI SHORT TRUSTEE 1.0 0.0 X 0 0 0 E FOLLIN SMITH TRUSTEE 1.0 0.0 X 0 0 0 BILL WINKENWERDER JR TRUSTEE 1.0 0.0 X 0 0 0 CAROLE M WEINSTEIN TRUSTEE 1.0 0.0 X 0 0 0 BENJAMIN R WALL II TRUSTEE 1.0 0.0 X 0 0 0 JOEL WILLIAMSON TRUSTEE 1.0 0.0 X 0 0 0 ADRIAN DARNELL JOHNSON TRUSTEE 1.0 0.0 X 0 0 0 LOWELL BRYAN TRUSTEE 1.0 0.0 X 0 0 0 MARY TABB MACK TRUSTEE 1.0 0.0 X 0 0 0 CAROL QUILLEN PRESIDENT 40.0 0.0 X X 408140 0 140624 WILLIAM P REED JR TRUSTEE 1.0 0.0 X 0 0 0 JOHN C LAUGHLIN TRUSTEE 1.0 0.0 X 0 0 0 ROBERT J MILLER TRUSTEE 1.0 0.0 X 0 0 0 THOMPSON S BAKER II TRUSTEE 1.0 0.0 X 0 0 0 BRETT M BERRY TRUSTEE 1.0 0.0 X 0 0 0 EDWARD A KANIA ASST SEC AND VP OF FIN & ADMIN 40.0 0.0 X 233889 0 28977 SARAH PHILLIPS ASSISTANT SEC. & GEN. COUNSEL 40.0 0.0 X 186468 0 18660 HARRISON MARSHALL JR ASSISTANT SECRETARY 1.0 0.0 X 0 0 0 RAYMOND A JACOBSON CHIEF INVESTMENT OFFICER 40.0 0.0 X 316866 0 41706 WENDY E RAYMOND VP FOR ACADEMIC AFFAIRS 40.0 0.0 X 227749 0 36987 CHRIS GRUBER VP & DEAN OF ADMISSION AND FA 40.0 0.0 X 194636 0 31027 ROBERT H MCKILLOP MENS BASKETBALL COACH 40.0 0.0 X 495839 0 35688 CLARK ROSS F. JOHNSTON PROF OF ECON 40.0 0.0 X 216299 0 24018 JAMES E MURPHY III DIRECTOR OF ATHLETICS 40.0 0.0 X 237016 0 26615 EILEEN KEELEY VP OF COLLEGE RELATIONS 40.0 0.0 X 249133 0 39336 VERNA CASE B.F. DOLAN PROF OF BIOLOGY 40.0 0.0 X 203995 0 20524 2970030 0 444162 127 false true false SHEPLEY BULFINCH RICHARDSON AND A 2 SEAPORT LANE BOSTON MA 02210 ARCHITECT/DESIGN 955749 RODGERS BUILDERS PO BOX 18446 CHARLOTTE NC 28218 CONSTRUCTION 42878234 GT CONTRACTING OF THE CAROLINAS 4033 DEARBORN PLACE CONCORD NC 28027 CONSTRUCTION 893847 JD GOODRUM COMPANY INC 18339 OLD STATESVILLE RD SUITE F CORNELIUS NC 28031 CONSTRUCTION 1344390 TRANE US INC PO BOX 406469 ATLANTA GA 30384 CONSTRUCTION 833666 34 3253207 35738475 8690578 38991682 TUITION AND STUDENT FEES 900099 85925851 85925851 85925851 31706861 -822903 32529764 0 0 0 0 0 185263398 159068243 26195155 26195155 26195155 0 0 0 OTHER 525990 568682 568682 NET SALES FROM AUXILIARY ENTERPRISES 900099 2254649 2254649 2823331 185642880 85925851 -822903 61548250 62500 62500 43646979 43646979 0 0 1897859 527196 1370663 0 49519704 40724157 3480550 5314997 3948782 3510150 -28527 467159 4629091 3184313 1073912 370866 3525567 2852629 306142 366796 0 153705 153705 130400 5800 124600 0 49735 49735 3332801 3332801 1787115 1189116 17356 580643 273295 189079 545 83671 7175328 5848257 532024 795047 3037650 1518825 855620 663205 0 1993077 1816340 135568 41169 3810776 3451354 136324 223098 0 1049014 940449 70316 38249 1366160 1245015 92925 28220 0 6674826 6082932 454018 137876 1078503 57955 1020548 WRITE OFF UNCOLLECT. PLEDGES 250800 250800 OTHER EXPENSES 3795127 2283205 1419155 92767 143188794 119136251 14799045 9253498 0 0 48710540 37844487 70944134 61894392 4539962 4599327 0 0 0 0 801411 406248 892342 789056 1075664 1326613 455014062 128706230 287055234 326307832 149406189 119825505 520933281 507658010 0 0 0 0 19343263 18738232 1103702020 1079389702 16923354 13768374 0 0 3363555 3701021 54941422 54683922 0 0 0 0 0 0 15730905 14679773 28663924 27555999 119623160 114389089 X 305140587 311302995 344019204 301808544 334919069 351889074 984078860 965000613 1103702020 1079389702 X 42454086 -60988029 -544304 X false true X true true true X 45692126 73244866 50688606 50824777 38991682 259442057 0 0 45692126 73244866 50688606 50824777 38991682 259442057 34357454 225084603 25144440 25640087 27811924 29670306 31706861 139973618 90932 90932 0 399506607 0.56341 0.57727 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 682640713 16779364 -4788557 14897019 14475560 3332801 661926140 649341795 14679361 47795566 13548654 13954237 1673118 682640713 564626876 9791039 101717807 12323175 13184563 1286189 649341795 511392612 11585559 66134462 11032243 12297959 1155555 564626876 509583005 18359499 7182718 10831170 11841482 1059958 511392612 0.14000 0.48000 0.38000 false false 44802946 21231519 66034465 272564166 93475981 179088185 16325699 9319400 7006299 34139073 25910849 8228224 65950659 65950659 326307832 INT'L EQUITY AND EMERGING MKTS 68430159 F HEDGE FUNDS 260524288 F VENTURE CAP/PRIV EQ/PRIV DEBT 157010834 F COMMODITIES 8935963 F DOMESTIC EQUITY 11497583 F OTHER 1259183 F 507658010 0 POST-RETIREMENT BENEFITS 21833064 ANNUITIES PAYABLE 5722935 27555999 X 101799742 -60988029 24124671 -36863358 138663100 3332801 43646979 46979780 185642880 120877989 24124671 24124671 96753318 3332801 43102675 46435476 143188794 SCHEDULE D, PART V, LINE 4 ANNUAL ENDOWMENT SPENDING IS USED IN SUPPORT OF SCHOLARSHIP, PROFESSORSHIPS, BOOK FUNDS AND SUPPORT OF ACADEMIC PROGRAMS IN ACCORDANCE WITH DONOR RESTRICTIONS, IF ANY. SCHEDULE D, PART X, LINE 2 THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE CODE). AS SUCH, THE COLLEGE IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS MADE IN THE FINANCIAL STATEMENTS. AS OF JUNE 30, 2016 AND 2015, THERE WERE NO MATERIAL UNCERTAIN TAX POSITIONS. SCHEDULE D, PART XI, LINE 2D AND PART XII, LINE 2D AUXILIARY EXPENSES OF $24,124,671 SCHEDULE D, PART XI, LINE 4B OTHER AMOUNTS INCLUDED IN REVENUE PER FINANCIAL STATEMENTS BUT NOT ON THE 990 IS COMPRISED OF $43,646,979 IN FINANCIAL AID. SCHEDULE D, PART XII, LINE 4B OTHER AMOUNTS INCLUDED IN EXPENSES PER THE 990 BUT NOT ON THE FINANCIAL STATEMENTS ARE COMPRISED OF $43,646,979. IN FINANCIAL AID AND $(544,304.) AS THE CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS FOR A NET AMOUNT OF $43,102,675. true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 DAVIDSON COLLEGE PRIMARILY RECRUITS WITHIN AND OUTSIDE OF THE U.S. THROUGH DIRECT MAILINGS AND RECRUITING VISITS. SINCE GENERAL MEDIA WOULD NOT REACH ALL OF THE COLLEGE'S CONSTITUENTS, THE COLLEGE FOCUSES ON COMMUNICATING THESE POLICIES THROUGH COLLEGE PUBLICATIONS, THE COLLEGE'S WEBSITE, THE OFFICIAL COLLEGE CATALOGUE (IN PAPER AND ELECTRONIC FORM), AND THROUGH ITS ADMISSIONS MATERIALS. SCHEDULE E, LINE 6A DURING THE YEAR ENDED JUNE 30, 2016, DAVIDSON COLLEGE RECEIVED GRANTS FROM THE FEDERAL GOVERNMENT AND THE STATE OF NORTH CAROLINA FOR STUDENT FINANCIAL AID AND FACULTY RESEARCH. THE MONIES RECEIVED WERE PROPERLY SPENT IN ACCORDANCE WITH THE REQUIREMENTS OF THE GRANTING AGENCIES. IN ADDITION, DAVIDSON COLLEGE IS AUDITED ANNUALLY UNDER GOVERNMENT AUDITING STANDARDS AS REQUIRED BY U.S. OFFICE OF MANAGEMENT AND BUDGET CIRCULAR A-133. Europe (Including Iceland and Greenland) Program Services EDUCATIONAL 1212831 Sub-Saharan Africa Program Services EDUCATIONAL 133103 Europe (Including Iceland and Greenland) Investments 7000000 South Asia Program Services EDUCATIONAL 458553 Central America and the Caribbean Investments 162052701 North America Investments 2415170 173272358 173272358 true false true true true false X X X X true COPPERREEF ENTERPRISES INC GIFT OFFICE TRAINING false 13850 WASHBURN AND MCGOLDRICK LLC CAMPAIGN CONSULTING false 32241 46091 AL AK AR CA CO CT DC FL HI IL KS KY LA ME MD MA MI MN MS NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WI true TOWN OF DAVIDSON PO BOX 579 DAVIDSON NC 28036 566001212 GOVT 62500 N/A N/A CONTRIBUTION 1 SCHOLARSHIPS AND GRANTS FOR STUDENTS 1205 43646979 FMV TUITION REDUCTION GRANT SUBSTANTIATION SCHEDULE I, PART I, LINE 2 DAVIDSYN COLLEGE FOLLOWS FEDERAL, STATE AND INSTITUTIONAL GUIDELINES AND METHODOLOGIES FOR DETERMINING ELIGIBILITY AND AWARDING OF NEED-BASED FINANCIAL AID. FOR MERIT-BASED GRANTS, DAVIDSON AWARDS THE GRANTS IN COMPLIANCE WITH THE STIPULATIONS OF THE UNDERLYING GOVERNING INSTRUMENT (I.E. DONOR ENDOWMENT AGREEMENTS AND OTHER DONOR DOCUMENTATION). DAVIDSON MAINTAINS DETAILED RECORDS OF COMPLIANCE FOR ALL GRANTS DISBURSED. X X true true X X X X false true false false false false false true false EDWARD A KANIA ASST SEC AND VP OF FIN & ADMIN 233373 516 25990 2987 262866 SARAH PHILLIPS ASSISTANT SEC. & GEN. COUNSEL 186318 150 18660 205128 RAYMOND A JACOBSON CHIEF INVESTMENT OFFICER 316364 502 29570 12136 358572 CAROL QUILLEN PRESIDENT 405475 2665 100999 39625 548764 WENDY E RAYMOND VP FOR ACADEMIC AFFAIRS 226806 943 24846 12141 264736 CHRIS GRUBER VP & DEAN OF ADMISSION AND FA 194133 503 20910 10117 225663 ROBERT H MCKILLOP MENS BASKETBALL COACH 381382 93015 21442 29570 6118 531527 CLARK ROSS F. JOHNSTON PROF OF ECON 214554 1745 20815 3203 240317 JAMES E MURPHY III DIRECTOR OF ATHLETICS 235075 1941 25917 698 263631 EILEEN KEELEY VP OF COLLEGE RELATIONS 248527 606 27428 11908 288469 VERNA CASE B.F. DOLAN PROF OF BIOLOGY 203114 881 17097 3427 224519 CERTAIN EXPENSES PROVIDED BY THE ORGANIZATION SCHEDULE J, PART I, LINE 1 IT IS THE POLICY OF DAVIDSON COLLEGE TO REQUIRE AS A CONDITION OF EMPLOYMENT THAT THE PRESIDENT LIVE IN THE PRESIDENT'S HOUSE LOCATED ON NORTH MAIN STREET FOR THE CONVENIENCE OF THE COLLEGE. THE COLLEGE PROVIDES CLEANING SERVICES IN ALL AREAS OF THE PRESIDENT'S HOUSE THAT ARE USED FOR ENTERTAINING AND/OR LODGING OF COLLEGE GUESTS. THE COLLEGE DOES NOT PROVIDE ANY OTHER PERSONAL SERVICES, INCLUDING BUT NOT LIMITED TO A CHEF OR DRIVER. COMPENSATION OF THE TOP MANAGEMENT OFFICIAL SCHEDULE J, PART I, LINE 3 DAVIDSON COLLEGE ("DAVIDSON") DOES NOT HAVE A SEPARATE COMPENSATION COMMITTEE, BUT THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE ASSUMED THE ROLE OF A COMPENSATION COMMITTEE. PRESIDENT/CEO'S COMPENSATION 1. ANNUALLY THE PRESIDENT ESTABLISHES PERFORMANCE GOALS IN CONSULTATION WITH THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. 2. ANNUALLY THE PRESIDENT REVIEWS PROGRESS ON THOSE GOALS WITH THE EXECUTIVE COMMITTEE WHO DOCUMENTS A PERFORMANCE REVIEW WITH THE PRESIDENT. 3. ANNUALLY, THE DIRECTOR OF HUMAN RESOURCES PERFORMS A COMPARATIVE REVIEW OF THE PRESIDENT'S COMPENSATION AGAINST DAVIDSON'S PEER INSTITUTIONS AND USES AN INDEPENDENT THIRD PARTY CONSULTANT TO PERFORM A REVIEW OF THE PRESIDENT'S COMPENSATION. 4. PERIODICALLY AND IN CERTAIN CASES (I.E. THE ARRIVAL OF A NEW PRESIDENT), AN OUTSIDE COMPENSATION CONSULTANT MAY ADVISE THE EXECUTIVE COMMITTEE ON PRESIDENTIAL COMPENSATION. 5. BASED ON THE ABOVE, THE EXECUTIVE COMMITTEE ESTABLISHES THE PRESIDENT'S COMPENSATION FOR THE FOLLOWING YEAR. 6. THE EXECUTIVE COMMITTEE DOCUMENTS THE REASONS FOR ESTABLISHING THE NEW COMPENSATION AMOUNT. 7. THE EXECUTIVE COMMITTEE THEN RENEWS THE PRESIDENT'S CONTRACT FOR AN ADDITIONAL YEAR AT THE NEW COMPENSATION LEVEL. NONQUALIFIED RETIREMENT PLAN Schedule J, Part I, Line 4B PRESIDENT CAROL QUILLEN'S RETIREMENT AND OTHER DEFERRED COMPENSATION REPORTED ON PART II, COLUMN C INCLUDES $71,429 WHICH IS 457(F) FORFEITABLE DEFERRED COMPENSATION PAYABLE IN ACCORDANCE WITH HER DEFERRED COMPENSATION AGREEMENT. NON-FIXED PAYMENTS SCHEDULE J, PART 1, LINE 7 DAVIDSON COLLEGE MADE NON-FIXED BONUS PAYMENTS TO ROBERT MCKILLOP. THE PAYMENTS WERE FOR MERIT AND WERE NOT CONTINGENT ON THE REVENUES OR NET EARNINGS OF THE COLLEGE OR ANY RELATED ORGANIZATIONS. A NC CAPITAL FACILITIES FINANCE AGENCY 561592154 2012-02-28 22354713 NEW RESIDENCE HALL false false false B NC CAPITAL FACILITIES FINANCE AGENCY 561592154 2014-12-03 33687544 CONSTRUCTION AND RENOVATION false false false A 0 0 22354713 0 449150 0 292993 0 0 21612570 0 0 false false true true B 0 0 33687544 0 744122 0 342736 0 0 30000686 2600000 0 true false true true A false false false 0 false false false true B false false false false 0 false false false true A false true false false 0 false 0 false true B false true false false 0 false 0 false true A false B false RODGERS BUILDERS FORMER TRUSTEE IS PRES 37389361 CONSTRUCTION FEES false MCGUIREWOODS LLP ASST SEC. & GC IS PARTNER 154385 LEGAL FEES false X 10 190751 FMV X 1976 FMV X 2977 FMV X 48 35469 AUCTION X 220 7746568 FMV X 1 470000 APPRAISAL X OTHER 69 242837 FMV 9 false true true USE OF THIRD PARTIES DAVIDSON COLLEGE UTILIZED STOCKBROCKERS TO SELL STOCK GIFTS RECEIVED BY THE COLLEGE. DAVIDSON COLLEGE UTILIZED CHARITABLE AUTO RESOURCES (CARS) TO SELL VEHICLES DONATED TO THE COLLEGE. CARS WILL ACCEPT THE VEHICLE, SELL IT AT AUCTION, AND SEND A LIST TO THE COLLEGE OF EACH VEHICLE SOLD AND THE PROCEEDS RECEIVED. FOR ANY SALE GREATER THAN $500, CARS FILES THE REQUIRED IRS FORMS. FORM 990, PART III, LINE 4D ATHLETICS AND PHYSICAL EDUCATION PROVIDED AS PART OF A WELL ROUNDED LIBERAL ARTS EDUCATION. THE ATHLETICS PROGRAM INCLUDES INTERCOLLEGIATE TEAMS, CLUB SPORTS AND INTRAMURAL COMPETITION. FORM 990, PART VI, LINE 11 DAVIDSON COLLEGE'S ("DAVIDSON") MANAGEMENT AND INDEPENDENT ACCOUNTANT PREPARED THE CURRENT YEAR TAX RETURN AND THIS WAS REVIEWED PRIOR TO FILING BY DAVIDSON'S MANAGEMENT AND CHAIR OF AUDIT AND FINANCE COMMITTEE. A COPY OF THE FORM 990 WAS PROVIDED ELECTRONICALLY TO DAVIDSON'S BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, LINE 12 TO COMPLY WITH ITS ETHICS POLICY, DAVIDSON COLLEGE REQUIRES ALL OF ITS TRUSTEES TO COMPLETE AN "ANNUAL STATEMENT OF DISCLOSURE AND COMPLIANCE" THAT IS CONTAINED WITHIN THE POLICY STATEMENT. IN ORDER TO ENSURE COMPLIANCE WITH THIS REQUIREMENT, THE COLLEGE FOLLOWS THE FOLLOWING PROCEDURES: 1. ON AN ANNUAL BASIS, THE PRESIDENT MAKES AN ANNOUNCEMENT TO THE BOARD OF TRUSTEES THAT THE "ANNUAL STATEMENT OF DISCLOSURE AND COMPLIANCE" MUST BE COMPLETED. 2. THE FORMS ARE DISTRIBUTED AT A MEETING OF THE BOARD OF TRUSTEES AND TIME IS PROVIDED TO ALLOW TRUSTEES TO COMPLETE THE FORMS. 3. FOR TRUSTEES WHO ARE NOT PRESENT AT THE MEETING OR DO NOT COMPLETE THEIR FORM, THE ADMINISTRATIVE COORDINATOR IN THE PRESIDENT'S OFFICE SENDS ELECTRONIC COPIES TO THOSE TRUSTEES WITH A REMINDER THAT SUCH FORMS MUST BE COMPLETED. 4. THE ADMINISTRATIVE COORDINATOR SENDS SEVERAL REMINDERS TO THE TRUSTEES UNTIL THE FORMS ARE COMPLETED. FORM 990, PART VI, LINE 15 DAVIDSON COLLEGE ("DAVIDSON") DOES NOT HAVE A SEPARATE COMPENSATION COMMITTEE, BUT THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE ASSUMED THE ROLE OF A COMPENSATION COMMITTEE. PRESIDENT/CEO'S COMPENSATION 1. ANNUALLY THE PRESIDENT ESTABLISHES PERFORMANCE GOALS IN CONSULTATION WITH THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. 2. ANNUALLY THE PRESIDENT REVIEWS THE PROGRESS ON THOSE GOALS WITH THE EXECUTIVE COMMITTEE WHICH DOCUMENTS A PERFORMANCE REVIEW WITH THE PRESIDENT. 3. ANNUALLY, THE DIRECTOR OF HUMAN RESOURCES PERFORMS A COMPARATIVE REVIEW OF THE PRESIDENT'S COMPENSATION AGAINST DAVIDSON'S PEER INSTITUTIONS AND USES AN INDEPENDENT THIRD PARTY CONSULTANT TO PERFORM A REVIEW OF THE PRESIDENT'S COMPENSATION. 4. PERIODICALLY AND IN CERTAIN CASES (I.E. THE ARRIVAL OF A NEW PRESIDENT), AN OUTSIDE COMPENSATION CONSULTANT MAY ADVISE THE EXECUTIVE COMMITTEE ON PRESIDENTIAL COMPENSATION. 5. BASED ON THE ABOVE, THE EXECUTIVE COMMITTEE ESTABLISHES THE PRESIDENT'S COMPENSATION FOR THE FOLLOWING YEAR. 6. THE EXECUTIVE COMMITTEE DOCUMENTS THE REASONS FOR ESTABLISHING THE NEW COMPENSATION AMOUNT. 7. THE EXECUTIVE COMMITTEE THEN RENEWS THE PRESIDENT'S EMPLOYMENT FOR AN ADDITIONAL YEAR AT THE NEW COMPENSATION LEVEL. PRINCIPAL EXECUTIVE STAFF ("PES") REPORTING DIRECTLY TO THE PRESIDENT 1. THE EXECUTIVE COMMITTEE AUTHORIZES THE PRESIDENT TO MAKE COMPENSATION DECISIONS FOR ALL OTHER COLLEGE STAFF. 2. ANNUALLY, EACH PES MEMBER ESTABLISHES PERFORMANCE GOALS WITH THE PRESIDENT. 3. ANNUALLY, EACH PES MEMBER REVIEWS THEIR PROGRESS ON THOSE GOALS WITH THE PRESIDENT CULMINATING IN A WRITTEN PERFORMANCE EVALUATION. THE PERFORMANCE EVALUATION SERVES AS THE CONTEMPORANEOUS DOCUMENTATION OF THE REVIEW. 4. ANNUALLY, THE DIRECTOR OF HR PERFORMS A COMPARATIVE REVIEW OF THE OPS MEMBER'S COMPENSATION AGAINST DAVIDSON'S PEER INSTITUTIONS AND USES AN INDEPENDENT THIRD PARTY CONSULTANT TO PERFORM A REVIEW OF THE PES COMPENSATION. 5. PERIODICALLY AND IN CERTAIN CASES (I.E. HIRING A NEW PES MEMBER), AN OUTSIDE COMPENSATION CONSULTANT MAY BE USED. 6. BASED ON THE ABOVE, THE PRESIDENT ESTABLISHES EACH PES MEMBER'S COMPENSATION FOR THE FOLLOWING YEAR. FORM 990, SCHEDULE VI, LINE 16 DAVIDSON COLLEGE ("DAVIDSON") INVESTS IN PARTNERSHIPS THAT MAY BE CONSTRUED TO BE JOINT VENTURES. DAVIDSON HAS ENACTED ADEQUATE SAFEGUARDS FOR ITS PARTNERSHIP INVESTMENTS TO ENSURE THAT THESE ACTIVITIES DO NOT JEOPARDIZE THE ORGANIZATION'S EXEMPT STATUS. FORM 990, PART VI, LINE 19 DAVIDSON COLLEGE'S GOVERNING DOCUMENTS (ARTICLES OF INCORPORATION AND ANY SUBSEQUENT AMENDMENTS) ARE AVAILABLE TO THE PUBLIC ON THE NORTH CAROLINA SECRETARY OF STATE WEBSITE. ALL RELEVANT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS (544,304) ------------ TOTAL (544,304) Form 990, Part XL, Line 17-States AK,CO,DE,KY,MD,MA,MI,NV,NH,NJ,NY,OH,OK,OR,SC,WA CHARITABLE REMAINDER TRUST (3) CHARITABLE TR NC NA TRUST POOLED INCOME FUND (1) CHARITABLE TR NC NA TRUST CHARITABLE TRUSTS (21) CHARITABLE TR IN PRESBYTERIAN FD TRUST CHARITABLE TRUST (1) CHARITABLE TR NC WACHOVIA TRUST CHARITABLE TRUST (1) CHARITABLE TR NC US TRUST TRUST CHARITABLE TRUST (1) CHARITABLE TR FL US TRUST TRUST CHARITABLE TRUST (1) CHARITABLE TR FL BANK OF AMERICA TRUST CHARITABLE TRUST (2) CHARITABLE TR MI COMERICA LEGACY TRUST CHARITABLE TRUST (1) CHARITABLE TR NC WINSTON SALEM TRUST false false false false false false false false false false false false false false false false false false