| Form 990, Part III, Line 1 ORGANIZATION'S MISSION |
WILLIAMS SEEKS TO PROVIDE THE FINEST POSSIBLE LIBERAL ARTS EDUCATION BY NURTURING IN ITS STUDENTS THE ACADEMIC AND CIVIC VIRTUES AND THEIR RELATED TRAITS OF CHARACTER. AS BOTH AN EDUCATIONAL AND SOCIAL IMPERATIVE, WILLIAMS WELCOMES TALENTED STUDENTS IRRESPECTIVE OF THEIR FINANCIAL RESOURCES. ONCE ENROLLED, THEY LEARN - BOTH INSIDE AND OUTSIDE THE CLASSROOM - THAT THE PRIVILEGE OF A WILLIAMS EDUCATION IMPLIES BOTH THE OPPORTUNITY AND RESPONSIBILITY TO SERVE SOCIETY AT LARGE. THE COLLEGE STRIVES TO ACHIEVE SUCH EXCELLENCE BY FOSTERING A COMMUNITY OF LEARNING THAT COMPRISES STUDENTS, FACULTY AND STAFF, IN PARTNERSHIP WITH NETWORKS OF DEEPLY DEVOTED ALUMNI AND PARENTS. |
| Form 990, Part VI, Line 1a Delegate broad authority to a committee |
WILLIAMS COLLEGE'S GOVERNING BODY AND GOVERNING DOCUMENTS DELEGATE AUTHORITY ON A LIMITED SCOPE TO AN EXECUTIVE COMMITTEE CONSISTING OF THE BOARD CHAIR, THE PRESIDENT OF THE COLLEGE, AND 5-7 OTHER BOARD MEMBERS SELECTED ANNUALLY BY THE CHAIR AND PRESIDENT ACTING JOINTLY. |
| Form 990, Part VI, Line 4 Significant changes to organizational documents |
WILLIAMS COLLEGE AMENDED ITS BYLAWS IN JANUARY OF 2021. The amendment provides the terms for trustees be reduced to not more than 5 years, previously 7 years. In addition, THE Maximum Length of Trustee Service WAS REDUCED FROM TWELVE TO TEN YEARS. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body |
WORKING WITH CROWE LLP, THE FORM 990 IS PREPARED FOR REVIEW BY SENIOR MANAGEMENT AND THE AUDIT COMMITTEE. CROWE LLP SIGNS THE RETURN AS PAID PREPARER. The final Form 990 is provided to the full board in advance of filing with the IRS. |
| Form 990, Part VI, Line 12c Conflict of interest policy |
TRUSTEES, OFFICERS, AND SENIOR STAFF ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE ANNUALLY. THE DISCLOSURE FORMS ARE REVIEWED BY THE CHAIR OF THE AUDIT COMMITTEE. TRUSTEES OR OFFICERS HAVING A CONFLICT OF INTEREST ON ANY MATTER THAT COMES BEFORE THE BOARD, OR ANY COMMITTEE OF THE BOARD, FOR ACTION RECUSE THEMSELVES FROM PARTICIPATING IN THE DECISION. EMPLOYEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM ANNUALLY. DISCLOSURES ARE REVIEWED BY DEPARTMENT HEADS AND SENIOR STAFF. ANY EMPLOYEE WITH A CONFLICT OF INTEREST WOULD BE PRECLUDED FROM INVOLVEMENT IN DECISION MAKING OR FINANCIAL DEALINGS WITH THE ENTITY OR RELATIONSHIP GIVING RISE TO THE CONFLICT. TRUSTEES, OFFICERS, AND EMPLOYEES ARE REQUIRED TO REPORT ANY MID-YEAR CHANGES TO THE PRESIDENT'S OFFICE AND THEIR SUPERVISOR RESPECTIVELY. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official |
Williams College assigns the duty of setting the President's compensation to the Executive Committee of the Board of Trustees that annually reviews compensation. The Executive Committee considers compensation surveys, market data, and analysis. The deliberations and decisions are documented. |
| Form 990, Part VI, Line 15b Process to establish compensation of other employees |
The compensation of the organization's other officers and key employees is determined by the President. Each year, the Director of HR provides the President with a multiyear summary of compensation benchmarking data for members of senior staff. The benchmarking data comprises salary survey data aggregated by the College and University Professional Association of Human Resources, as well as an independent survey administered by Sullivan Cotter. The President consults with the Executive Committee of the board and the deliberations and decisions are documented. |
| Form 990, Part VI, Line 18 How forms are made available to the public |
THE FORM 990 IS AVAILABLE UPON REQUEST, ON THE COLLEGE WEBSITE, AND ON GUIDESTAR.ORG. THE FORM 990-t IS AVAILABLE UPON REQUEST AND ON GUIDESTAR.ORG. |
| Form 990, Part VI, Line 19 Required documents available to the public |
WILLIAMS COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE POSTED ON THE COLLEGE WEBSITE. |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances |
Life income payments and Change in Value of split interest agreements - -8668103; Adjustments for post-employment liabilities - -1036621; Gain or Loss on Financial Contract Swaps - 3617573; Gain or Loss on retirement of long term debt - 1490080; Change in Noncontrolling interest - 52908; Deferred excise tax - nonoperating - -17040779; |
Attach to Form 990 or 990-EZ.