2014-03-28T14:48:05-05:00 2013-06-30 232932984 PARENTEBEARD LLC 400 MARKET STREET WILLIAMSPORT PA 17701 990 2012-07-01 231352692 WILSON COLLEGE WILS 7172644141 1015 PHILADELPHIA AVE CHAMBERSBURG PA 17201 BRIAN ECKER 7172644141 2014-03-27 1 JULIUS C GREEN CPA JD P00350393 2159720701 2012 2015-11-30 17:44:51Z BARBARA MISTICK 1015 PHILADELPHIA AVE CHAMBERSBURG PA 17201 29288985 0 X WWW.WILSON.EDU X 1869 PA PRIVATE COMPREHENSIVE LIBERAL ARTS AND SCIENCES, NOT-FOR-PROFIT EDUCATIONAL COLLEGE. 25 25 542 100 436014 -80456 6143676 3950108 15231051 14433231 395752 4066451 514001 862344 22284480 23312134 5587101 5230512 0 0 9893896 9695389 0 0 1145204 11220725 11361069 26701722 26286970 -4417242 -2974836 111628768 114329107 39470799 37567597 72157969 76761510 X WILSON COLLEGE IS AN INDEPENDENT COLLEGE WITH A PROUD HISTORY OF EDUCATING STUDENTS SINCE 1869 THROUGH RIGOROUS STUDY OF THE LIBERAL ARTS AND SCIENCES. TODAY, WILSON'S MISSION INCLUDES EDUCATING BOTH WOMEN AND MEN ENROLLED ACROSS ALL PROGRAMS. GUIDED BY THE WILSON HONOR PRINCIPLE AND DISTINGUISHED BY ITS COMMITMENT TO TRANSFORMATIVE STUDENT GROWTH, WILSON COLLEGE PREPARES ALL OF ITS GRADUATES FOR FULFILLING LIVES AND PROFESSIONS, ETHICAL LEADERSHIP, AND HUMANE STEWARDSHIP OF OUR COMMUNITIES AND OUR WORLD. 0 1 19121526 5230512 14431464 WILSON UNDERSTANDS THAT SUSTAINABLE SOLUTIONS TO COMPLEX PROBLEMS WILL REQUIRE INNOVATION AND GLOBAL SAVVY - TALENTS DEVELOPED MOST FULLY THROUGH A RIGOROUS, PERSONALIZED EDUCATION IN THE LIBERAL ARTS AND A POWERFUL LEARNING/LIVING ENVIRONMENT FOR STUDENTS OF ALL AGES AND CULTURES. THIS IS WILSON'S COMMITMENT TO ITS STUDENTS.THE COLLEGE FOR WOMEN OFFERS BACCALAUREATE DEGREE PROGRAMS AND RESIDENTIAL HOUSING. THE ADULT DEGREE PROGRAM OFFERS BACCALAUREATE AND ASSOCIATE DEGREE PROGRAMS, TEACHER INTERN PROGRAM, AND OTHER COURSES FOR MEN AND WOMEN. WILSON CONTINUES TO OFFER THE "WOMEN WITH CHILDREN" PROGRAM. THIS PROGRAM PROVIDES CAMPUS HOUSING YEAR-ROUND TO SINGLE MOTHERS AND THEIR CHILDREN SO THAT THE MOTHER CAN PURSUE A BACHELOR'S DEGREE FULL TIME. U.S. NEWS & WORLD REPORTS HAS RANKED WILSON 5TH OVERALL IN THE CATEGORY OF BEST REGIONAL COLLEGES IN THE NORTHERN REGION FOR 2012-13; THIS IS THE THIRTEENTH CONSECUTIVE YEAR THAT WILSON HAS BEEN RECOGNIZED IN THE RANKINGS.A MASTER OF HUMANITIES PROGRAM WAS INTRODUCED IN SPRING 2012 TO ACTIVELY ENGAGE WORKING PROFESSIONALS IN THE HUMANITIES FIELDS IN ORDER TO FURTHER CONTINUE AND ACCELERATE THEIR UNDERSTANDING OF THE CRITICAL INTERROGATIONS, PROCESSES AND INVESTIGATIONS THAT MARK THE FIELD. THE PROGRAM FOCUSES STUDENTS ON LEARNING TO ARTICULATE THEIR OWN EXPRESSION OF ORIGINAL IDEAS BASED ON RIGOROUS THEORETICAL, CRITICAL AND HISTORICAL STUDY OF THE HUMANITIES FIELD. 19121526 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 1 0 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 71 0 1 542 1 1 1 1 CJ BD OC EI 0 0 0 1 1 0 0 0 0 X 25 25 0 1 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X BRIAN ECKER VP FINANCE & ADMINISTRATION 7172622017 1015 PHILADELPHIA AVENUE CHAMBERSBURG PA 17201 JOHN W GIBB 1.00 X X 0 0 0 PAULA S TISHOK 1.00 X X 0 0 0 ELIZABETH V MCDOWELL 1.00 X X 0 0 0 JULIE I ENGLUND 1.00 X X 0 0 0 RICHARD C GROVE 1.00 X 0 0 0 SUSANNA N DUKE 1.00 X 0 0 0 LESLIE L DURGIN 1.00 X 0 0 0 EDGAR H HOWELLSJR 1.00 X 0 0 0 PAMELA F KIEHL 1.00 X 0 0 0 JANE E MURRAY 1.00 X 0 0 0 TRACEY LESKEY 1.00 X 0 0 0 J SAMUEL HOUSER 1.00 X 0 0 0 MARSHA A SAJER 1.00 X 0 0 0 NANCY C SMITH 1.00 X 0 0 0 JAMES A SMELTZER 1.00 X 0 0 0 JUDITH R STEWART 1.00 X 0 0 0 PHOEBE H STEVENSON 1.00 X 0 0 0 NANCY D WASHINGTON 1.00 X 0 0 0 NANCY A KOSTAS 1.00 X 0 0 0 BETTY LOU L THOMPSON 1.00 X 0 0 0 SHELDON GOETTEL 1.00 X 0 0 0 HEATHER E LONG 1.00 X 0 0 0 TAMI L FRATIS 1.00 X 0 0 0 RONETTE M STONER 1.00 X 0 0 0 AMY A BOYCE 1.00 X 0 0 0 JILL A ROBERTS 1.00 X 0 0 0 MARY F CRAMER 1.00 X 0 0 0 LISBETH S LUKA 1.00 X 0 0 0 JENNIFER BANZHOF 1.00 X 0 0 0 PATRICIA BENNETT 1.00 X 0 0 0 R CHARLES GRANT 1.00 X 0 0 0 DOROTHY VAN BRAKLE 1.00 X 0 0 0 BARBARA K MISTICK 40.00 X 219811 0 17477 BRIAN ECKER 40.00 X 108667 0 19201 328478 0 36678 6 0 1 0 SAGE DINING SERVICES INC 1402 YORK RD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICE 996562 SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 MAINTENANCE CONTRACTOR 660200 WISE CHOICE CONSTRUCTION CO INC 4336 HARNEY RD TANEYTOWN MD 21787 CONSTRUCTION LABOR 365481 ELLUCIAN 4375 FAIR LAKES CT FAIRFAX VA 22033 SOFTWARE CONSULTING 310563 J&R LAMB STUDIOS 190 GREENWOOD AVENUE MIDLAND PARK NJ 07432 CONSTRUCTION LABOR 234588 9 340 347638 3602130 250806 3950108 TUITION AND FEES 611710 11685996 11685996 ROOM AND BOARD 611710 2290063 2290063 BOOKSTORE 611710 327965 327965 COMMUNITY RIDING 611710 129207 81985 47222 14433231 1258292 1258292 74236 32786 41450 41450 41450 8747818 5939659 2808159 2808159 2808159 0 340 4406 -4406 -4406 CONFERENCES 611710 233790 198472 35318 CHILDCARE 624410 190320 190320 POSTAGE REIMBURSEMENT 561000 94173 94173 307017 45455 261562 825300 23312134 14431464 436014 4494548 4786572 4786572 443940 443940 399595 150088 249507 7596026 5984523 1108562 502941 418712 346567 47303 24842 671914 478379 130372 63163 609142 424090 143447 41605 1766136 1766136 62593 62593 66915 66915 444895 444895 565871 228636 275822 61413 134153 85608 48089 456 1132354 491129 479353 161872 183751 3478 180273 767333 767333 337352 283722 27897 25733 192389 106957 76595 8837 1171372 1171372 1968478 1356407 612071 332668 332668 MAINTENANCE 970732 514561 456070 101 UNCOLLECTIBLE PLEDGE RE 750000 750000 SPECIAL PROJECTS 117676 112679 263 4734 RECRUITMENT 73749 15178 58571 322652 175631 147021 26286970 19121526 6020240 1145204 306725 310946 5779214 3120909 2294646 1361204 401875 494837 1231163 1423973 159992 164617 657461 743238 56345032 24643580 32231004 31701452 41197571 45112646 17048490 19103828 135000 135000 10185627 10656457 111628768 114329107 1045641 1343582 373615 248390 31180000 31180000 6871543 4795625 39470799 37567597 X 29820898 31621282 4895602 6480142 37441469 38660086 72157969 76761510 111628768 114329107 X -2974836 5006266 2572111 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 43700 X X X 0 57180277 1057585 8258847 834007 5634412 60028290 60520915 4075586 -1665106 726685 5024433 57180277 50938308 4361120 10533563 681304 4630772 60520915 41170055 7418539 5334035 676836 3049196 50938308 52696730 763222 -9782767 440181 2066949 41170055 0.51390 0.48610 1 0 575546 575546 47903340 19792795 28110545 7707075 4850785 2856290 159071 159071 31701452 LIFE INSURANCE POLICIES CASH SURRENDER VALUE 24926 F ALTERNATIVE INVESTMENTS 19078902 F 19103828 ASSETS HELD IN TRUST UNDER SPLIT INTEREST AGREEMENTS 10656457 10656457 FUNDS HELD IN CUSTODY FOR OTHERS 101069 ADVANCES FROM US GOVT FOR STUDENT LOANS 556460 OBLIGATION UNDER INTEREST-RATE SWAP AGREEMENTS 4100641 CAPITAL LEASE OBLIGATIONS 37455 4795625 X 24500919 5006266 -3409778 1596488 22904431 444895 -37192 407703 23312134 19897378 37192 37192 19860186 444895 5981889 6426784 26286970 PART III, LINE 4: THE HANKEY CENTER SERVES AS COLLEGE ARCHIVES WHICH INCLUDES THE C. ELIZABETH BOYD ('33) ARCHIVES AND THE BARRON BLEWETT HUNNICUTT CLASSICS GALLERY. THE HANKEY CENTER IS NAMED IN HONOR OF JOAN HANKEY '59, THE DONOR THAT HAS MADE IT POSSIBLE FOR WILSON COLLEGE TO KEEP ALIVE THE HISTORY OF WOMEN AT WILSON AND TO FURTHER THE ADVANCEMENT AND EDUCATION OF WOMEN AND GIRLS GLOBALLY. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: INCOME FROM ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS, SUPPORT FACULTY/STAFF DEVELOPMENT, AND TO SUPPORT OPERATIONS OF THE COLLEGE. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN FISCAL 2013 AND 2012. THE COLLEGE'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR THE YEARS SUBSEQUENT TO JUNE 30, 2009 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE COLLEGE'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEVEFICIAL INTEREST IN PERPETUAL TRUSTS 469,194. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 2,102,917. STUDENT FINANCIAL AID (NETTED AGAINST TUITION ON FINANCIAL STATEMENTS) -5,231,889. UNCOLLECTIBLE PLEDGE RECEIVABLES -750,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -32,786. FUNDRAISING EXPENSES -4,406. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 32,786. FUNDRAISING EXPENSES 4,406. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID (NETTED AGAINST TUITION ON FINANCIAL STATEMENTS) 5,231,889. UNCOLLECTIBLE PLEDGE RECEIVABLES 750,000. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE ORGANIZATION'S NONDISCRIMINATION POLICY IS IN ALL OF ITS' PUBLICATIONS INCLUDING THE SCHOOL'S CATALOG AND COURSE ROSTER. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES VARIOUS FEDERAL GRANTS DIRECTLY FROM THE U.S. DEPARTMENT OF EDUCATION. THESE GRANTS INCLUDE SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, COLLEGE WORK-STUDY FUNDING, AND PELL GRANTS. THE COLLEGE ALSO RECEIVES GRANTS FROM THE COMMONWEALTH OF PENNSYLVANIA, THE MOST SIGNIFICANT OF WHICH IS THE INSTITUTIONAL ASSISTANCE GRANT. 1 0 0 0 0 0 0 0 0 0 SCHOLARSHIPS FOR STUDENTS ENROLLED AT WILSON COLLEGE EUROPE 3 65120 STUDENT ACCOUNT CREDIT SCHOLARSHIPS FOR STUDENTS ENROLLED AT WILSON COLLEGE SOUTH AMERICA 1 15382 STUDENT ACCOUNT CREDIT SCHOLARSHIPS FOR STUDENTS ENROLLED AT WILSON COLLEGE MIDDLE EAST AND NORTH AFRICA 2 19768 STUDENT ACCOUNT CREDIT SCHOLARSHIPS FOR STUDENTS ENROLLED AT WILSON COLLEGE WESTERN ASIA 2 76452 STUDENT ACCOUNT CREDIT SCHOLARSHIPS FOR STUDENTS ENROLLED AT WILSON COLLEGE EAST ASIA AND THE PACIFIC 13 267218 STUDENT ACCOUNT CREDIT 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: SCHOLARSHIP FUNDS ARE AWARDED TO INTERNATIONAL STUDENTS WHO DEMONSTRATE FINANCIAL NEED BY COMPLETING A STATEMENT OF FINANCES AND/OR MERIT, BASED ON PRIOR ACADEMIC ACHIEVEMENT. ENDOWED SCHOLARSHIP RECIPIENTS ALSO MEET THE SPECIFIC CRITERIA AS IDENTIFIED BY THE DONORS. RECIPIENTS OF TUITION REMISSION AND PARTICIPANTS IN EXCHANGE PROGRAMS OCCUR THROUGH AN APPLICATION PROCESS FROM SCHOOLS IN WHICH WILSON COLLEGE HAS AN INSTITUTIONAL AGREEMENT. THE SCHOLARSHIPS ARE APPLIED DIRECTLY TO THE COST OF ATTENDING WILSON COLLEGE AND FUNDS ARE NOT ACTUALLY DISBURSED. 1 STUDENT WORK STUDY 139 208572 N/A N/A TUITION EXCHANGE AND REMISSION STUDENTS ENROLLED 56 327069 N/A N/A INSTITUTIONAL SCHOLARSHIPS FOR STUDENTS ENROLLED 167 291599 N/A N/A ENDOWED SCHOLARSHIPS 291 3903392 N/A N/A CV STARR SCHOLARSHIP 7 55940 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SCHOLARSHIP FUNDS ARE AWARDED TO STUDENTS WHO MEET THE FINANCIAL REQUIREMENTS AS DEMONSTRATED BY THE RESULTS FROM FEDERAL FREE APPLICATION FOR FEDERAL STUDENT AID. ENDOWED SCHOLARSHIP RECIPIENTS ALSO MEET THE SPECIFIC CRITERIA AS IDENTIFIED BY THE DONORS. INSTITUTIONAL FINANCIAL AID IS ALSO AWARDED TO STUDENTS WHO MEET SPECIFIC MERIT OR AFFILIATION CRITERIA. RECIPIENTS OF TUITION REMISSION AND EXCHANGE PROGRAMS ARE VERIFIED FIRST BY THE DIRECTOR OF HUMAN RESOURCES. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 BARBARA K MISTICK 202311 0 0 0 17500 0 13000 0 4477 0 237288 0 0 0 PART I, LINE 1A BARBARA MISTICK, PRESIDENT HAS ON CAMPUS HOUSING FOR 2013. AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE EMPLOYER, THE PRESIDENT IS REQUIRED TO LIVE IN COLLEGE HOUSING, THEREFORE, NONE OF THE BENEFIT WAS TREATED AS TAXABLE COMPENSATION. ADDITIONALLY, THE COLLEGE HOUSING IS USED FOR FUNDRAISING AND CAMPUS RELATED EVENTS. THE COLLEGE PAYS COUNTRY CLUB DUES AS WELL AS SOCIAL CLUB DUES FOR THE PRESIDENT. BECAUSE THESE DUES ARE RELATED TO FUNDRAISING EFFORTS, THEY WERE NOT TREATED AS TAXABLE COMPENSATION. A MUNICIPAL AUTHORITY BOROUGH OF CHAMBERSBURG 251742939 158042AA9 2007-11-08 31180000 CONSTRUCTION OF SCIENCE CENTER BUILDING 0 0 0 A 31315687 237534 27342384 3735769 2009 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 1 1 BANK OF AMERICA SWAP 25.400000000000 0 0 0 0 0 A 0 SCHEDULE K PART IV, ARBITRAGE, LINE 2C DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MUNICIPAL AUTHORITY BOROUGH OF CHAMBERSBURG DATE THE REBATE COMPUTATION WAS PERFORMED: 11/28/2012 SCHEDULE K, PART II, LINE 3: TOTAL PROCEEDS REPORTED ON LINE 3 OF PART II EXCEEDS BOND PROCEEDS IN PART I DUE TO INVESTMENT EARNINGS OF $135,687. SCHEDULE K, PART IV, LINE 3: THE COLLEGE ENTERED INTO THREE INTEREST RATE SWAP AGREEMENTS IN CONNECTION WITH ITS SERIES 2007 BONDS WITH BANK OF AMERICA. THE TERMS OF THE SWAP AGREEMENTS EXPIRE AS FOLLOWS: NOVEMBER 2018, NOVEMBER 2037, AND NOVEMBER 2037. SCHEDULE K, PART III, LINE 9; PART IV, LINE 7; AND PART V: THE COLLEGE IS IMPLEMENTING WRITTEN POLICIES AND PROCEDURES RELATED TO ITS TAX EXEMPT BOND COMPLIANCE AND MONITORING REQUIREMENTS. X 7 7620 COST X 7 220244 QUOTED MARKET PRICES X FURNITURE & EQUIPMENT 13 19856 COST X BOOKS & PUBLICATIONS 7 141 COST X CLOTHING & HOUSEHOLD GOODS 22 2945 COST 1 0 1 0 CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 THE COLLEGE CHANGED ITS MISSION FROM OPERATING A COLLEGE FOR WOMEN AND A CO-EDUCATIONAL COLLEGE OF CONTINUING EDUCATION TO PROMOTING THE EDUCATION OF BOTH WOMEN AND MEN IN UNDERGRADUATE AND GRADUATE DEGREE AND NON-DEGREE PROGRAMS. THIS CHANGE IS EFFECTIVE FOR THE 2013-2014 ACADEMIC YEAR. FORM 990, PART VI, SECTION A, LINE 3 THE COLLEGE OUTSOURCED ITS PHYSICAL PLANT, FOOD SERVICES, CONFERENCES AND CAMPUS SAFETY FOR FISCAL YEAR 2013. FORM 990, PART VI, SECTION A, LINE 4 THE COLLEGE CHANGED ITS MISSION FROM OPERATING A COLLEGE FOR WOMEN AND A CO-EDUCATIONAL COLLEGE OF CONTINUING EDUCATION TO PROMOTING THE EDUCATION OF BOTH WOMEN AND MEN IN UNDERGRADUATE AND GRADUATE DEGREE AND NON-DEGREE PROGRAMS. THIS CHANGE IS EFFECTIVE FOR THE 2013-2014 ACADEMIC YEAR. OTHER SIGNIFICANT BY-LAW CHANGES INCLUDE: ARTICLE III: MEMBERSHIP OF THE BOARD OF TRUSTEES -CLARIFIES NUMBER OF VOTING TRUSTEES (21-33) ON BOARD AND REVISES THESE NUMBERS IN THE CHARTER TO BE CONSISTENT WITH BYLAWS. -CONSISTENT WITH COVENANT, REQUIRES THAT THE BOARD INCLUDE SEVERAL MEMBERS OF THE PRESBYTERIAN CHURCH (USA) ONE OF WHOM SHALL BE FROM THE SYNOD OF THE TRINITY. ARTICLE V: OFFICERS OF THE BOARD -ADDS POSITION OF ASSISTANT SECRETARY TO ASSIST THE SECRETARY IN EXECUTING MINISTERIAL FUNCTIONS OF THE OFFICE (E.G., SIGNING AND AFFIXING CORPORATE SEAL TO DOCUMENTS EXPRESSLY AUTHORIZED BY THE BOARD OR BY THE SECRETARY. -DELETES THE AUDIT FUNCTION FROM THE TREASURER'S RESPONSIBILITIES. ARTICLE VI: OFFICERS OF THE COLLEGE -PROVIDES THAT IF THE PRESIDENT BECOMES INCAPACITATED, THE VICE PRESIDENT FOR ACADEMIC AFFAIRS WILL ASSUME THE DUTIES AND RESPONSIBILITIES OF PRESIDENT ON ACTING OR INTERIM BASIS AT THE PLEASURE OF THE BOARD OF TRUSTEES. ARTICLE XIII: LIMITATION OF TRUSTEE MONETARY LIABILITY -PROVIDES THAT TRUSTEES ARE NOT PERSONALLY LIABLE FOR MONETARY DAMAGES FOR ANY ACTION UNLESS THE TRUSTEE HAS BREACHED THE DUTY OF CARE AND THE BREACH OF CARE CONSTITUTES SELF DEALING, WILLFUL MISCONDUCT, OR RECKLESSNESS. ARTICLE XIV: INDEMNIFICATION -SUBJECT TO BOARD APPROVAL, AUTHORIZES THE COLLEGE TO CREATE A FUND TO SECURE OR INSURE ITS INDEMNIFICATION OBLIGATIONS. -REQUIRES THE COLLEGE TO PURCHASE AND MAINTAIN SUFFICIENT D&O INSURANCE ON BEHALF OF TRUSTEES AND FORMER TRUSTEES. -PROVIDES THAT THE INDEMNIFICATION OBLIGATION CAN BE REPEALED OR AMENDED ONLY AS TO ACTIONS BY TRUSTEES OCCURRING AFTER THE REPEAL OR AMENDMENT, AND INDEMNIFICATION CONTINUES UNCHANGED AS TO ACTIONS TAKEN BEFORE THE REPEAL OR AMENDMENT. - BOARD AUTHORIZATION IS REQUIRED TO INDEMNIFY ANY PERSON SEEKING INDEMNIFICATION UNDER THIS PROVISION. ARTICLE XV: CONFLICT OF INTEREST - UPDATES CONFLICT OF INTEREST PROVISIONS CONSISTENT WITH EXISTING CONFLICT OF INTEREST POLICY AND DISCLOSURE OBLIGATIONS FOR TRUSTEES, OFFICERS OF THE COLLEGE, SENIOR MANAGEMENT, AND PERSONS WITH RESPONSIBILITY FOR THE FINANCIAL RESOURCES OF THE COLLEGE. ARTICLE XVI: REVIEW AND AMENDMENT OF BY-LAWS - REQUIRE A 30-DAY NOTICE OF A MEETING SCHEDULED TO AMEND THE COLLEGE'S CHARTER/ARTICLES OF INCORPORATION AND THESE BYLAWS. - PLACES RESPONSIBILITY FOR REVIEWING THE BYLAWS AND RECOMMENDING CHANGES TO THE BOARD UNDER THE COMMITTEE ON TRUSTEESHIP/GOVERNANCE, IN CONSULTATION WITH THE SECRETARY OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS REVIEWED FIRST BY THE PRESIDENT AND CABINET (MANAGEMENT REVIEW). PURSUANT TO THE BOARD'S DELEGATION OF AUTHORITY, THE FORM 990 WAS SUBMITTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. FOLLOWING THE AUDIT COMMITTEE'S REVIEW AND APPROVAL, THE FORM 990 WAS PROVIDED TO EACH TRUSTEE PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE WILSON COLLEGE CONFLICT OF INTEREST POLICY PROTECTS THE INTERESTS OF THE COLLEGE IN CONNECTION WITH ANY TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTERESTS OF ANY COVERED PERSON. A "COVERED PERSON" INCLUDES EACH OF THE COLLEGE'S TRUSTEES, OFFICERS, MEMBERS OF ANY COMMITTEE OF THE COLLEGE'S BOARD OF TRUSTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF TRUSTEES, AND THE COLLEGE'S EXECUTIVE EMPLOYEES AND ANY OTHER MANAGER OR SUPERVISOR IDENTIFIED BY THE BOARD OF TRUSTEES OR THE PRESIDENT AS EXERCISING SUBSTANTIAL INFLUENCE OVER THE OPERATIONS OF THE COLLEGE. EACH COVERED PERSON IS REQUIRED TO SIGN A STATEMENT THAT AFFIRMS THAT THEY READ, UNDERSTAND AND AGREE TO COMPLY WITH THE POLICY. THEY ARE ALSO REQUIRED TO SUBMIT, ON AN ANNUAL BASIS, A QUESTIONNAIRE DISCLOSING THEIR ACTUAL AND POTENTIAL CONFLICTS OF INTEREST. POTENTIAL CONFLICTS OF INTEREST IDENTIFIED THROUGH THE REVIEW OF THE QUESTIONNAIRE BY THE SECRETARY OR VICE PRESIDENT, OR OTHER POTENTIAL CONFLICTS OF INTEREST ARISING DURING CONSIDERATION OF A TRANSACTION OR ARRANGEMENT ARE REPORTED TO THE BOARD'S AUDIT COMMITTEE. THE AUDIT COMMITTEE WILL EVALUATE THE DISCLOSURES AND THE MATERIAL FACTS AND DETERMINE WHETHER THERE IS A CONFLICT OF INTEREST. THE AUDIT COMMITTEE MAY REFER THE MATTER TO THE BOARD FOR SUCH A DETERMINATION. IF IT IS DETERMINED THAT NO CONFLICT OF INTEREST EXISTS, THE COVERED PERSON MAY PARTICIPATE FULLY IN THE DISCUSSION OF AND VOTE ON THE PROPOSED TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15 A SEPARATE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS CURRENT SALARY, EVALUATION RESULTS FOR THE PRESIDENT, AND DATA FROM THE FOLLOWING SOURCES: SALARIES OF PEER AND ASPIRANT COLLEGES, FORMS 990 FROM OTHER INSTITUTIONS, GUIDESTAR INFORMATION AND RELEVANT SALARY SURVEYS, INCLUDED BUT NOT LIMITED TO, THE ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF PENNSYLVANIA (AICUP) AND THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION (CUPA), TO ENSURE THAT COMPENSATION DOES NOT EXCEED FAIR MARKET VALUE. THE RECOMMENDATION OF THE COMPENSATION COMMITTEE IS THEN SHARED AND DISCUSSED WITH THE ENTIRE BOARD OF TRUSTEES (IN EXECUTIVE SESSION) AND THE ENTIRE BOARD VOTES ON THE COMPENSATION RECOMMENDATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS IN THE FORM OF THE 990 AND 990-T ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGED IN BENEFICIAL INTEREST IN PERPETUAL TRUST 469,194. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 2,102,917.