2016-04-18T09:26:42-05:00 2015-05-31 KPMG LLP 515 BROADWAY ALBANY NY 122072930 990 2014-06-01 160743040 Hobart and William Smith Colleges % Carolee E White HOBA 3157813337 300 Pulteney Street Geneva NY 14456 Carolee E White VP FOR FINANCE 5184274866 2016-04-15 true Todd P Teresco P00247720 5184274600 2014 2016-08-17 19:52:53Z X Mark D Gearan 337 Pulteney Street Geneva NY 14456 236206368 false X www.hws.edu X 1943 NY HOBART AND WILLIAM SMITH COLLEGES HAVE A MISSION OF PROVIDING A STUDENT-CENTERED RESIDENTIAL LEARNING ENVIRONMENT GROUNDED IN THE VALUES OF EQUITY AND SERVICE. 39 38 2379 5024 565240 19717295 12969820 130426348 135790926 11005704 13024565 638046 544560 161787393 162329871 43774550 45777308 0 0 55331896 57094171 0 0 3829215 47816325 52611373 146922771 155482852 14864622 6847019 403339294 398684463 98745196 98012385 304594098 300672078 X HOBART AND WILLIAM SMITH COLLEGES HAVE A MISSION OF PROVIDING A STUDENT-CENTERED RESIDENTIAL LEARNING ENVIRONMENT GROUNDED IN THE VALUES OF EQUITY AND SERVICE. false false 131399790 45777308 133681979 HOBART AND WILLIAM SMITH COLLEGES ARE A STUDENT-CENTERED LEARNING ENVIRONMENT IN GENEVA, NY -- THE HEART OF THE FINGER LAKES REGION. THE COLLEGES ARE LOCATED AT THE SHORE OF SENECA LAKE ON A 195-ACRE CAMPUS. HOBART AND WILLIAM SMITH HAVE A COMBINED ENROLLMENT OF APPROXIMATELY 2,350, AND EMPLOY 225 FULL-TIME FACULTY LINES. THIS ALLOWS THE COLLEGES TO MAINTAIN A STUDENT-FACULTY RATIO OF 11:1. MORE THAN 45 MAJORS AND 70 MINORS ARE OFFERED, WHERE A STUDENT CAN OBTAIN A BACHELOR OF ARTS, BACHELOR OF SCIENCE, OR A MASTER OF ARTS IN TEACHING DEGREE. A RICH INTERDISCIPLINARY PROGRAM AND LIMITLESS OPPORTUNITIES FOR SELF-DISCOVERY ARE HALLMARKS OF ACADEMICS AT THE COLLEGES. HOBART AND WILLIAM SMITH ARE ALSO NOTED FOR AN AMBITIOUS EMPHASIS ON INTERNATIONAL STUDY AND FOR PROGRAMS IN COMMUNITY ENGAGEMENT AND SERVICE-LEARNING. NEARLY 60-PERCENT OF HOBART AND WILLIAM SMITH STUDENTS STUDY ABROAD IN MORE THAN 50 LOCATIONS AROUND THE WORLD. THE COLLEGES VIEW CIVIC RESPONSIBILITY, COMMUNITY ENGAGEMENT, AND INTERNATIONAL EDUCATION AS INTEGRAL COMPONENTS OF A LIBERAL ARTS EDUCATION. 131399790 true true false true false false false false false true true true false false true true true false true true true false true false false false false false true true true false false false false false false false false true false true true false false false true true false false true X 406 0 true 2379 true true true true BD CJ HK MP UK EI false false false true true false false false false X 39 38 false false false false false false false true true false false true true true true true true true false false NY X Carolee E White 3157813337 337 Pulteney Street Geneva NY 14456 X MARK GEARAN PRESIDENT 60.0 0.0 X X 516665 0 125278 Linda Arrington Trustee 2.0 0.0 X 0 0 0 Thomas Bozzuto Trustee 2.0 0.0 X 0 0 0 N Harrison Buck Trustee 2.0 0.0 X 0 0 0 Calvin Carver Jr Trustee 2.0 0.0 X 0 0 0 Dr Stephen Cohen Trustee 2.0 0.0 X 0 0 0 Edward Cooper Trustee 2.0 0.0 X 0 0 0 Timothy Eden Trustee 2.0 0.0 X 0 0 0 Katherine Elliot Trustee 2.0 0.0 X 0 0 0 Cynthia Gelsthorpe Fish Trustee 2.0 0.0 X 0 0 0 Andrew Gaines Trustee 2.0 0.0 X 0 0 0 Aileen Gleason Trustee 2.0 0.0 X 0 0 0 William Green Trustee 2.0 0.0 X 0 0 0 J Paul Hellstrom Jr Trustee 2.0 0.0 X 0 0 0 Katherine Mackinnon Trustee 2.0 0.0 X 0 0 0 Megan Massey Trustee 2.0 0.0 X 0 0 0 Garrett Mathieson Treasurer 5.0 0.0 X X 0 0 0 Herbert McCooey Jr Trustee 2.0 0.0 X 0 0 0 Gail McGinn Trustee 2.0 0.0 X 0 0 0 Carolyn McGuire Trustee 2.0 0.0 X 0 0 0 Andrew McMaster Jr Trustee Vice Chair 5.0 0.0 X X 0 0 0 Allison Morrow Trustee 2.0 0.0 X 0 0 0 Dr Deborah Pilla Trustee 2.0 0.0 X 0 0 0 Thomas Poole Trustee 2.0 0.0 X 0 0 0 James B Robinson Trustee 2.0 0.0 X 0 0 0 John Ross Trustee 2.0 0.0 X 0 0 0 Rt Rev Prince Singh Trustee 2.0 0.0 X 0 0 0 Craig Stevens Trustee 2.0 0.0 X 0 0 0 Craig Stine Trustee 2.0 0.0 X 0 0 0 Dr Richard Wasserman Trustee 2.0 0.0 X 0 0 0 Anita Weeks Trustee 2.0 0.0 X 0 0 0 Christopher Welles Trustee 2.0 0.0 X 0 0 0 William Whitaker Jr Trustee 2.0 0.0 X 0 0 0 Beth Yingling Secretary 4.0 0.0 X X 0 0 0 Susan Yolen Trustee 2.0 0.0 X 0 0 0 Maureen Zupan Trustee Chair 5.0 0.0 X X 0 0 0 Abigail Evans Trustee (Term End 6/14) 2.0 0.0 X 0 0 0 Dr Robert Gilman Trustee (Term End 6/14) 2.0 0.0 X 0 0 0 Joy Glaser Trustee (Term End 6/14) 2.0 0.0 X 0 0 0 Gregory Mathieu Trustee (Term End 6/14) 2.0 0.0 X 0 0 0 William Margiloff Trustee 2.0 0.0 X 0 0 0 Caroline Demeter Trustee 2.0 0.0 X 0 0 0 Nicholas Stewart Trustee 2.0 0.0 X 0 0 0 PETER POLINAK VICE PRESIDENT FOR FINANCE 50.0 0.0 X 205119 0 21537 Louis Guard Chief of Staff and Counsel 50.0 0.0 X 54282 0 10959 TITILAYO UFOMATA PROVOST/DEAN OF FACULTY 50.0 0.0 X 204614 0 39536 ROBERT MURPHY VP OF ENROLLMENT MANAGEMENT 50.0 0.0 X 262392 0 40932 ALFRED DAMIANO CHIEF INFORMATION OFFICER 50.0 0.0 X 213926 0 42829 ROBERT O'CONNOR VP OF INSTITUTIONAL ADVANCEMEN 50.0 0.0 X 182167 0 33659 ROBERT FLOWERS VP OF STUDENT AFFAIRS 50.0 0.0 X 177121 0 38810 1816286 0 353540 69 false true false Harter Secrest Emery LLP 1600 Bausch Lomb Place Rochester NY 14604 Legal Services 1242552 Kelley Bros LLC 75 Remittance Drive Suite 6203 Chicago IL 60675 Contractor 365071 Colonial Consulting 750 Third Avenue 20th Floor New York NY 10017 Invest Consultants 273508 Greco Painting 790 West Washington Street Geneva NY 14456 Painting Contractor 284685 Pepper Hamilton LLP 3000 Two Logan Square 18th and Arc Philadelphia PA 19103 Legal Services 264419 5 1834889 11134931 1790934 12969820 Tuition and Fees 611600 111479563 111479563 Residence Halls 721310 12296204 12296204 Dining Services 722320 9159584 9159584 Bookstore 451211 2108947 2108947 Other Program Service Revenue 746628 746628 135790926 3559926 3559926 0 0 6240 26920 -20680 0 -20680 -20680 83314216 73849577 9464639 9464639 9464639 0 0 0 Summer Camps 900099 513125 513125 Sport and Rec Center Memberships 713940 52115 52115 565240 162329871 133681979 565240 15112832 0 43728273 43728273 2049035 2049035 0 2230368 459174 1214627 556567 54426 27213 27213 41574267 34067904 5745016 1761347 3443029 2814566 478199 150264 6578128 5246825 1008114 323189 3213953 2580811 479544 153598 0 1236271 30674 1205597 212250 212250 0 0 1184520 1184520 3207180 1129015 1939700 138465 115787 74023 40974 790 5987258 3941324 1785061 260873 1265107 583221 658744 23142 0 11157046 10772589 195102 189355 2268622 1912180 226193 130249 0 318101 217169 97288 3644 1897089 1806029 91060 0 8010181 7625467 381799 2915 512809 14010 498323 476 Miscellaneous 2936395 17531 2811736 107128 Service Contracts 12302757 12302757 155482852 131399790 20253847 3829215 X 0 0 27186716 25188618 7137609 4754313 1788903 1436889 0 0 0 0 2457033 2352845 811337 767730 2410705 1524245 264300254 119188867 134547644 145111387 97848114 102030193 114107585 108449044 0 0 0 0 15043648 7069199 403339294 398684463 9928995 12962849 2440189 882755 2615134 2336923 70716772 67837136 0 0 0 0 2104500 1917000 0 0 10939606 12075722 98745196 98012385 X 111999571 112418888 67606026 61958453 124988501 126294737 304594098 300672078 403339294 398684463 X 6847019 -8680213 -2088826 X false true X true true true X 14929783 11296472 12816153 19717295 12969820 71729523 0 0 14929783 11296472 12816153 19717295 12969820 71729523 0 71729523 2286805 1978111 2881813 2683159 3566166 13396054 0 692022 670041 497739 655423 565240 3080465 88206042 614404549 0.81320 0.76260 X 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED LOBBYING ACTIVITY FORM 990, PART IV, QUESTION 4: THE COLLEGES DO NOT DIRECTLY ENGAGE IN LOBBYING ACTIVITY. HOWEVER, A PORTION OF THE DUES PAID TO PROFESSIONAL ORGANIZATIONS ARE DESIGNATED FOR LOBBYING BY SUCH PROFESSIONAL ORGANIZATIONS. 202413144 2830972 2899627 3540796 4740131 -114818 199977634 181787616 10440768 17950223 2916692 4858893 -10122 202413144 161238813 2156185 26582267 2911395 4913256 364998 181787616 182833093 1839005 -14533394 2922603 4913580 1063708 161238813 165864735 3971002 20377111 3189919 5082330 -892494 182833093 0.19000 0.62000 0.19000 false false 3566191 3566191 160429584 63079129 97350455 13464287 5388240 8076047 49716834 37594047 12122787 37123358 13127451 23995907 145111387 CASH AND CASH EQUIVALENTS 15507372 F REAL ESTATE 7630575 F PRIVATE EQUITY 9351339 F HEDGE FUNDS 73805782 F OTHER 2153976 F 108449044 0 REFUNDABLE ADVANCES FROM GOVER 1937038 ASSET RETIREMENT OBLIGATIONS 2466997 FAIR VALUE OF SWAP AGREEMENT 7671687 12075722 X 102659280 -8680213 -49832778 -58512991 161172271 1184520 -26920 1157600 162329871 106581300 26920 26920 106554380 1184520 47743952 48928472 155482852 Schedule D, PART V, LINE 4 ENDOWMENT FUNDS ARE LONG-TERM ASSETS OF THE COLLEGES CREATED EITHER BY DONOR GIFTS OR BY ACTIONS OF THE BOARD OF TRUSTEES. THEIR PURPOSE IS TO GENERATE, IN PERPETUITY, OPERATING REVENUE FOR SPECIFIC ACTIVITIES OR FOR THE USE OF THE COLLEGES. ENDOWMENT FUNDS ARE INVESTED UNDER DIRECTION OF THE BOARD OF TRUSTEES TO ACHIEVE MAXIMUM LONG-TERM TOTAL RETURN WITH PRUDENT CONCERN FOR THE PRESERVATION OF INVESTMENT CAPITAL. Part X, Line 2 THE COLLEGES ARE A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND ARE GENERALLY EXEMPT FROM INCOME TAX ON RELATED INCOME. THE COLLEGES RECOGNIZE THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGEMENT OCCURS. THE COLLEGES BELIEVE IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. Part XI, Line 2d FINANCIAL AID $(45,777,308) CHANGE IN FAIR VALUE OF SWAP AGREEMENT $(2,088,826) LOSS ON PLEDGES $(1,966,644) TOTAL $(49,832,778) Part XI, Line 4b RENT EXPENSE $( 26,920) Part XII, Line 4b FINANCIAL AID $(45,777,308) LOSS ON PLEDGES $(1,966,644) TOTAL $(47,743,952) Part XII, Line 2d RENT EXPENSE $( 26,920) true true true true true true true false false false false false false false false true false true Schedule E, LINE 3 HOBART AND WILLIAM SMITH COLLEGES HAVE PUBLICIZED OUR RACIALLY NONDISCRIMINATORY POLICY IN ALL OUR SOLICITATIONS FOR STUDENTS. APPLICANTS ARE RECRUITED THROUGH THE AID OF DIRECT MAIL AND ELECTRONIC DOCUMENTS, GENERAL COLLEGE PUBLICATIONS FREELY ACCESSIBLE TO THE COMMUNITY, ADVERTISEMENTS IN REGIONAL AND GENERAL INTEREST PUBLICATIONS AND THE COLLEGES' WEBSITE WWW.HWS.EDU. SCHEDULE E, LINE 6 HOBART AND WILLIAM SMITH COLLEGES RECEIVE FUNDS FROM THE FEDERAL WORK STUDY PROGRAM, FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT PROGRAM, FEDERAL PELL GRANT PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL DIRECT LOAN PROGRAM, NEW YORK STATE TUITION ASSISTANCE PROGRAM, NEW YORK STATE BUNDY AID, AND NEW YORK STATE HIGHER EDUCATION OPPORTUNITY PROGRAMS. true Central America and the Caribbean Program Services OFF CAMPUS STUDY 37734 East Asia and the Pacific 3 Program Services OFF CAMPUS STUDY 395706 Europe (Including Iceland and Greenland) 4 Program Services OFF CAMPUS STUDY 2372200 Middle East and North Africa Program Services OFF CAMPUS STUDY 15880 Russia and the Newly Independent States Program Services OFF CAMPUS STUDY 22413 South America 1 Program Services OFF CAMPUS STUDY 183169 South Asia Program Services OFF CAMPUS STUDY 40005 Sub-Saharan Africa Program Services OFF CAMPUS STUDY 24529 North America 1 Program Services OFF CAMPUS STUDY 603 Central America and the Caribbean Investments 35863765 Europe (Including Iceland and Greenland) Investments 29879401 Sub-Saharan Africa Investments 4220937 East Asia and the Pacific Investments 7503216 Central America and the Caribbean Grantmaking SCHOLARSHIPS 131990 East Asia and the Pacific Grantmaking SCHOLARSHIPS 553494 Europe (Including Iceland and Greenland) Grantmaking SCHOLARSHIPS 300353 Middle East and North Africa Grantmaking SCHOLARSHIPS 105006 North America Grantmaking SCHOLARSHIPS 412166 South America Grantmaking SCHOLARSHIPS 72427 South Asia Grantmaking SCHOLARSHIPS 269466 Sub-Saharan Africa Grantmaking SCHOLARSHIPS 204133 9 9 81650401 958192 82608593 Scholarships Central America and the Caribbean 4 131990 ACCT. CREDIT Scholarships East Asia and the Pacific 54 553494 ACCT. CREDIT Scholarships Europe (Including Iceland and Greenland) 9 300353 ACCT. CREDIT Scholarships Middle East and North Africa 3 105006 ACCT. CREDIT Scholarships North America 13 412166 ACCT. CREDIT Scholarships South America 2 72427 ACCT. CREDIT Scholarships South Asia 5 269466 ACCT. CREDIT Scholarships Sub-Saharan Africa 6 204133 ACCT. CREDIT true false true true true true SCHEDULE F, PART I, LINE 3, COLUMN F EXPENDITURES ARE REPORTED USING THE ACCRUAL METHOD OF ACCOUNTING. INVESTMENTS ARE REPORTED AT THEIR FAIR MARKET VALUE. Schedule F, PART I, LINE 2 HOBART AND WILLIAM SMITH COLLEGES OFFER GRANTS TO STUDENTS ON THE BASIS OF DEMONSTRATED FINANCIAL NEED AND/OR ACADEMIC ACHIEVEMENT. STUDENTS AND THEIR FAMILIES SUBMIT STANDARDIZED APPLICATION MATERIALS TO THE OFFICE OF FINANCIAL AID, WHICH OVERSEES THE PROCESS OF AWARDING SUCH GRANTS. ELIGIBILITY CRITERIA FOR THE VARIOUS GRANTS IS ESTABLISHED BY THE COLLEGES. THE COLLEGES CREDIT THE TUITION ACCOUNTS OF THE STUDENTS WHO ARE AWARDED FINANCIAL AID GRANTS. true Scholarships 1595 43728273 Schedule I, PART I, LINE 2 HOBART AND WILLIAM SMITH COLLEGES OFFER GRANTS TO STUDENTS ON THE BASIS OF DEMONSTRATED FINANCIAL NEED AND/OR ACADEMIC ACHIEVEMENT. STUDENTS AND THEIR FAMILIES SUBMIT STANDARDIZED APPLICATION MATERIALS TO THE OFFICE OF FINANCIAL AID, WHICH OVERSEES THE PROCESS OF AWARDING SUCH GRANTS. ELIGIBILITY CRITERIA FOR THE VARIOUS GRANTS IS ESTABLISHED BY THE COLLEGES. THE COLLEGES CREDIT THE TUITION ACCOUNTS OF THE STUDENTS WHO ARE AWARDED FINANCIAL AID GRANTS. X X X true true X X X X X false false true false false false false false false MARK GEARAN PRESIDENT 473412 0 0 0 43253 0 26000 0 99278 0 641943 0 0 0 PETER POLINAK VICE PRESIDENT FOR FINANCE 203567 0 0 0 1552 0 20280 0 1257 0 226656 0 0 0 TITILAYO UFOMATA PROVOST/DEAN OF FACULTY 203470 0 0 0 1144 0 8942 0 30594 0 244150 0 0 0 ROBERT MURPHY VP OF ENROLLMENT MANAGEMENT 260144 0 0 0 2248 0 26000 0 14932 0 303324 0 0 0 ALFRED DAMIANO CHIEF INFORMATION OFFICER 213515 0 0 0 411 0 21982 0 20847 0 256755 0 0 0 ROBERT O'CONNOR VP OF INSTITUTIONAL ADVANCEMEN 181917 0 0 0 250 0 18760 0 14899 0 215826 0 0 0 ROBERT FLOWERS VP OF STUDENT AFFAIRS 176888 0 0 0 233 0 17849 0 20691 0 215661 0 0 0 Schedule J, PART I, LINE 4C PRESIDENT GEARAN PARTICIPATES IN A FROZEN STOCK OPTION ARRANGEMENT WHERE HE MAY EXERCISE THE OPTION TO BUY UNITS IN TWO SPECIFIED MUTUAL FUNDS CONTAINED WITHIN THE COLLEGES' ENDOWMENT PRIOR TO JULY 1, 2016. THE OPTION PRICE IS $60,000 PER FUND. THE VALUE OF THIS OPTION DECREASED BY $9,279 DURING CALENDAR YEAR 2014. NO PAYMENTS TO PRESIDENT GEARAN HAVE BEEN MADE UNDER THIS ARRANGEMENT. SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: PRESIDENT GEARAN AND DR. UFOMATA ARE PROVIDED HOUSING AS A CONDITION OF THEIR EMPLOYMENT AND FOR THE CONVENIENCE OF THE COLLEGES. THE FAIR MARKET VALUE OF THE HOUSING ALLOWANCE IS INCLUDED AS A NON-TAXABLE BENEFIT IN SCHEDULE J, COLUMN (D). HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES: PRESIDENT GEARAN RECEIVED MEMBERSHIPS TO TWO SOCIAL CLUBS FOR THE PURPOSES OF MEETING AND ENTERTAINMENT OF ALUMNI AND OTHER GUESTS OF THE COLLEGES. THE VALUE OF THE SOCIAL CLUB DUES IS INCLUDED SCHEDULE J, COLUMN (D) AS A NONTAXABLE BENEFIT. PERSONAL SERVICES: PRESIDENT GEARAN AND DR. UFOMATA RECEIVED PERSONAL SERVICES FOR THE CONVENIENCE OF THE COLLEGE. THE VALUE OF THE PERSONAL SERVICES IS INCLUDED IN SCHEDULE J, COLUMN (D) AS A NONTAXABLE BENEFIT. A CITY OF GENEVA INDUS DEV AG MULTI (SERIES 2007) 161266095 372175bt5 2007-12-12 31250000 CAPITAL PROJECTS false false false B CITY OF GENEVA DEV CORP REVENUE (SERIES 2012) 800820946 37217PAQ8 2012-06-28 29942818 REFUNDING OF SERIES 2001 AND 2003 false false false C CITY OF GENEVA DEV CORP REVENUE (SERIES 2014) 800820946 37217PBN4 2014-03-20 15416104 CAPITAL PROJECTS false false false A 4225000 0 31250000 0 0 0 475688 357585 0 29974498 442229 0 2011 false false true true B 2845000 0 29942818 0 0 0 435838 0 0 0 29506980 0 2013 true true true true C 0 0 15416105 0 0 0 308322 0 0 7931371 107213 7069199 false false false true A false false true true false 0 0.01887 0.01887 false false false false B false false true true false 0 0.00829 0.00829 false false false false C false false true true false 0 false false false false A false false false true true true RBC CAPITAL MARKETS 30. true false false 0 true false B false true false false false false 0 false 0 true false C false true false false false false 0 false 0 false false A false B false C false PART II, LINE 11: OTHER SPENT PROCEEDS Col A- $475,688 NYS bond issuance charge, issuer administrative fee per Form 8038 Col B- $192,204 issuer administrative fee per Form 8038 - $29,942,818 was used to refund prior bond issues Col C- $107,213 issuer administrative fee per Form 8038 PART III, QUESTION 9 THE ORGANIZATION DOES NOT HAVE ESTABLISHED WRITTEN PROCEDURES TO ENSURE THAT ALL NONQUALIFIED BONDS OR THE ISSUE ARE REMEDIATED IN ACCORDANCE WITH THE REQUIREMENTS UNDER REGULATIONS SECTION 1.141-12 AND 1.145-2 BUT THE COLLEGES DO COMPLY WITH THE REGULATIONS. PART IV, QUESTION 2C MAY 9, 2013 FOR THE PERIOD DECEMBER 12, 2007 THROUGH DECEMBER 1, 2012. MARY HERLIHY-GEARAN SPOUSE OF PRESIDENT 54426 EMPLOYEE AT THE COLLEGES false X 93 1790934 FMV false true true PART I, LINE 32A Hobart and William Smith College have an agreement in place with a security broker to process and sell stock gifts as soon as they are received. FORM 990, PART VI, SECTION A, LINE 11B A DRAFT OF THE FORM 990 IS PREPARED BY THE COLLEGES' MANAGEMENT IN CONJUNCTION WITH THE EXTERNAL AUDIT AND TAX ADVISORS AND PROVIDED TO THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD OF TRUSTEES. THE FORM IS REVIEWED AND CORRECTIONS OR CHANGES ARE MADE AS NECESSARY. A FINAL FORM 990 IS THEN DISTRIBUTED TO THE FULL BOARD BEFORE FILING IT WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE IN WRITING CONFLICTS OF INTEREST OR POTENTIAL CONFLICTS OF INTEREST ON A DISCLOSURE STATEMENT. AT THIS TIME A RIGOROUS PROCESS OF REVIEWING THE DISCLOSURES IS UNDERTAKEN BY THE ASSISTANT SECRETARY AND ASSISTANT TREASURER'S OFFICE TO ENSURE CONFLICTS ARE TIMELY DEALT WITH IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES (OMITTING THE PRESIDENT FOR THIS PURPOSE) IS COMPRISED OF MEMBERS WITHOUT A CONFLICT OF INTEREST. THIS COMMITTEE REVIEWS THE COMPENSATION FOR THE PRESIDENT. AN ANNUAL PROCESS OF ASSESSING THE PRESIDENT'S PERFORMANCE AND REVIEWING COMPARATIVE COMPENSATION DATA IS PERFORMED IN ORDER TO RECOMMEND COMPENSATION CHANGES. A MOTION TO BE APPROVED BY THE FULL BOARD IS DRAFTED BY THE EXECUTIVE COMMITTEE AFTER THE REVIEW PROCESS. THE DISCUSSIONS OF THE COMMITTEE AND FULL BOARD ARE CONTEMPORANEOUSLY DOCUMENTED IN THE BOARD MINUTES. THE COLLEGES MEET THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION. FORM 990, PART VI, SECTION C, LINE 19 HOBART AND WILLIAM SMITH COLLEGES MAKE THEIR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGE IN INTEREST RATE SWAP $2,088,826 CHARITABLE REMAINDER TRUST (7) CRAT NY NA Trust true POOLED INCOME FUND POOLED INCOME NY NA Trust true false false false false false false false false false false false false false false false false false false true POOLED INCOME FUND S 109501 FMV