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      <InitialContractExceptionInd>false</InitialContractExceptionInd>
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        <PersonNm>Richard P Melnick</PersonNm>
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        <PersonNm>Eileen Sullivan</PersonNm>
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        <FormAndLineReferenceDesc>Part I Line 3</FormAndLineReferenceDesc>
        <ExplanationTxt>Directors and Officers are not compensated in their capacity as Directors and Officers of the Student Clubs of HBS, Inc. All compensation is paid by Harvard University for work performed by the University.</ExplanationTxt>
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        <FormAndLineReferenceDesc>Form 990, Part VI, Section A, Line 6, 7a, 7b</FormAndLineReferenceDesc>
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        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 11A</FormAndLineReferenceDesc>
        <ExplanationTxt>Form 990 was reviewed by the President Fellows of Harvard College Administrators. A copy of Form 990 was provideed to the governing body before it was filed.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 12c</FormAndLineReferenceDesc>
        <ExplanationTxt>Student Clubs of HBS, Inc distributes a policy on conflicts of interest and committment and an annual disclosure form to Directors and Officers. Completed forms are reviewed by Harvard Administrators.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 15a, 15b</FormAndLineReferenceDesc>
        <ExplanationTxt>Directors and Officers are not compensated in their capacity as Directors and Officers of the Student Clubs of HBS, Inc. All compensation is paid by Harvard University for work performed for the University.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section C, Line 19</FormAndLineReferenceDesc>
        <ExplanationTxt>Student Clubs of HBS, Inc is a part of President Fellpows which makes its annual finacial statemnts available on its website. President Fellows of Harvard Colleges conflict of interest is available on Harvards intranet, accessible to members of the Harvard community. Student Clubs of HBS, Incs governing documents are available upon request.</ExplanationTxt>
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        <FormAndLineReferenceDesc>Form 990, Part VII, Section A, Line 1a</FormAndLineReferenceDesc>
        <ExplanationTxt>The list below details the average hours per week that individuals listed in Part VII Line 1a Column E devote to President Fellows of Harvard College. The University does not track hours worked by trustees, officers, key employees and highest compensated employees. The avaerage hours worked reported on Part VII Column B are estimates with 60 hours per week as an approximation for full time employment. The hours per week devoted to related organizations represents an estimate of the time the individual spends in his/her capacity as a member of the Board of Directors and/or employee of Harvard affiliates.</ExplanationTxt>
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        <ExplanationTxt>President Fellows of Harvard College may provide various administrative sevices on behalf of the Student Clubs of HBS, Inc. In addition, President Fellows of Harvard College may share office space and equipment with the Student Clubs of HBS, Inc.</ExplanationTxt>
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