| Form 990, Part VI, Section B, line 11b |
The 990 review process is as follows: A draft of the completed Form 990 is sent to the Audit Committee and a draft of the sections concerning compensation is sent to the Organizational Strategy and Compensation Committee. The Organizational Strategy and Compensation Committee may contact management or the Audit Committee with any questions or concerns on the compensation sections. The Audit Committee then meets with senior management personnel to review the process by which the Form 990 was prepared, discuss any items of significance, and resolve any questions. The Audit Committee then votes to accept the Form 990 based on management's representations. Prior to the return being filed, a draft of the complete Form 990 is provided to the full board. At the next meeting of the Board of Trustees, the Audit Committee reports to the full Board on the results of its review. |
| Form 990, Part VI, Section B, line 12c |
Compliance with Dartmouth's institution-wide Conflict of Interest policy (www.dartmouth.edu/~osp/resources/policies/dartmouth/cofinterest.html) is required by College policy. Compliance is monitored by the Office of the General Counsel, which reviews information concerning potential conflicts solicited from approximately 390 trustees, faculty, and staff members each year. Compliance with the requirements of the Policy concerning researchers engaged in externally sponsored research is enforced and monitored by the Office of the Provost, and particularly by the Office of Sponsored Projects and the Conflict of Interest Committee of the Council on Sponsored Activities which, in accordance with federal regulations, solicit information from researchers concerning financial interests that may affect or be affected by proposed research. In addition, the Office of the General Counsel and the Investment Office monitor compliance with the Policy on Pecuniary Benefit Transactions and Related Party Investments. |
| Form 990, Part VI, Section B, line 15 |
The process for determining the compensation of Dartmouth's President and other officers and key employees is as follows: (1) Comparability data are gathered by the Chief Human Resources Officer from a compensation survey conducted by a nationally-known compensation consulting firm. (2) Recommendations for compensation adjustments for officers and key employees are prepared by the President, using comparability data and a review of the employee's performance. (3) The President's recommendations are presented for approval to the Organizational Strategy and Compensation Committee of the Board, together with the comparability data. (4) Comparability data for the President's compensation is also presented to the Organizational Strategy and Compensation Committee by the Chief Human Resources Officer. The Board of Trustees approves the President's compensation. The President and the Investment Committee jointly approve the Chief Investment Officer's compensation. |
| Form 990, Part VI, Section C, line 19 |
Dartmouth makes its governing document (The Charter of Dartmouth College), conflict of interest policies and financial statements available to the public by posting these documents on its website. |
| Form 990, Part XI, line 9: |
Net unrealized change in value of non-investment items 145,356,260. Net change in split-interest agreements 9,302,555. |
| Form 990 Part IV, Line 28c, Business Transactions with Interested Persons: |
A special and rigorous conflict-of-interest policy applies to Dartmouth investments with firms in which related parties (e.g., Trustees or non-Trustee Investment Committee members) have a financial interest. Under the New Hampshire Pecuniary Benefit Law (Revised Statutes Annotated, Chapter 7:19-a) and Dartmouth's Policy on Pecuniary Benefit Transactions and Related Party Investments, such investments are strictly regulated. Before such an investment may be made, the Investment Office must submit to the Board of Trustees an analysis (1) documenting the past performance of funds managed by the firm in question; and (2) comparing the terms of the proposed investment with the terms of other recent similar investments not involving related parties. The analysis must also document that Dartmouth's investment would not comprise more than 10% of the fund and that other institutional investors have committed to participate in the same fund. Based on this information, the proposed investment is considered by the Investment Committee of the Board of Trustees, the Audit Committee, and the full Board. In each instance, any Trustee or non-Trustee Investment Committee member associated with the firm involved in the investment must be recused from the discussion and vote. The investment may not be made unless the Investment Committee, the Audit Committee and the Board each give their approval by a two-thirds vote. Approval requires a finding that the proposed investment is fair and reasonable to Dartmouth and that it is no less favorable than the terms of similar recent investments made by Dartmouth not involving related parties. In accordance with State law, a notice of the proposed investment--identifying the related party, the investment firm, and the amount of the investment--is then filed with the State Attorney General's Office and published in the local daily newspaper. |
Attach to Form 990 or 990-EZ.