Norwich University

“The board of trustees audit committee reviews and comments on the form 990, including schedule b before it is filed. An electronic copy of form 990, not including schedule b, is distributed to all board members before the return is filed. A paper copy of the schedule b, physically located on the university campus, is available for any board member to review once the audit committee completes their initial review.”

“The conflict of interest policy and affidavit is distributed annually to board of trustees. The completed affidavits are returned and reviewed by both the university administration and the audit committee of the board of trustees for conflicts that could impair the judgement of the individuals. The audit committee reports the result of their review to the full board during the fall meeting. The audit committee asks any trustee with a disclosed conflict of interest to recuse themselves from board conversations where the outcome could affect the business relationship with the university.”

“The compensation of officers and senior administrators at norwich university is set by the president with the advice of the human resources committee of the board of trustees. The president's compensation is set by the board of trustees with the advice of the human resources committee. The process used for these decisions follows the guidelines suggested by the irs for compliance with irc section 4958. The primary factor in these determinations is salary benchmarking following the methods used for all staff at the university. Benchmark compensation data are obtained from an annual salary survey of higher education institutions conducted by the college and university professional association for human resources (cupa-hr). Norwich university compares to a selected salary cohort from this survey. The current cohort includes all responses from institutions with operating budgets in the range of $60 million to $140 million that offer both undergraduate and graduate degrees. About 205 institutions included in the survey meet these criteria. For all employees at norwich, a factor based on time in the current lob level is applied to the benchmark rate from the salary survey to find an expected market rate for each employee in the current position. Salary increases are proposed to assure that employees remain close to their expected market rate. In addition to the salary benchmark data, the committee considers performance information on the senior administrators provided by the president, and the results of the performance appraisal of the president conducted by the board. The director of human resources serves as the staff liaison to the human resources committee. The formal charge to the human resources committee of the board is presented below. Human resources committee the human resources committee was established in october 2016 as a reconfiguration of the compensation committee which had been formed in october 2009. The rationale of the restructure was to acknowledge the changing field of human resources which still encompasses compensation but also provides leadership in other areas of importance to the university such as employee engagement, professional development and compliance with federal and state regulations. The purpose of the committee is to review and evaluate human resources programs, including compensation and benefits, policies and procedures which enhance the mission and guiding values of norwich by supporting a diverse workforce and providing exceptional service to the campus community. The committee will review and provide advice to the president on compensation issues for highly compensated employees, review compensation benchmarks and studies done by independent organizations, and use appropriate comparable data prior to making these recommendations to the president. In addition, the committee will make a recommendation to the full board on the president's compensation. These recommendations will consider performance, longevity, market equity, and will insure compliance with irs and other federal and state guidelines. Documentation of the board's actions on the president's compensation is to be considered confidential and is to remain on file with the secretary of the board. The committee will also have responsibility for reviewing and making recommendations to the board on changes in the design of the benefit plans provided for eligible staff and faculty, such as the cafeteria plan of benefits and all of its components, including but not limited to medical coverage, dental coverage, flexible spending accounts, and group life and long term disability insurance. As one aspect of employee benefits, the committee will provide fiduciary oversight for the design and implementation of the university's retirement plans, maintaining them for the benefit of the staff and faculty who are the plan participants. The director of human resources will be the liaison.”

“Norwich university's governing documents, financial statements, tax returns, and conflict of interest policies are available for review upon request. The norwich university form 990 is available for public review at www.guidestar.org.”

“Norwich university's mission is to give our youth an education that shall be american in character - to enable them to act as well as to think - to execute as well as to conceive - "to tolerate all opinions when reason is left free to combat them" - to make moral, patriotic, efficient, and useful citizens, and to qualify them for all those high responsibilities resting upon a citizen of this free republic. Norwich's mission statement is unique in higher education. We know exactly who we are, why we are here, and where we are going. We are able to be very specific: the distinctive terms and phrases found in this mission statement provide important clues in understanding the essence of this organization, and ultimately the directions we will seek and the outcomes we will require of our students. The most distinguishing terms are: american in character global in perspective mutual respect service thinking and acting conceiving and executing making moral and patriotic citizens making useful citizens qualifying graduates for responsibilities of a free republic these, as well as other distinguishing outcomes of the norwich experience are discussed below: american in character means that we teach students to understand and hold dear those values and principles upon which this free republic was established. The american experience was unique and world changing in its development. It was built upon the fundamentals of democracy and the notion that people have inalienable rights. We want our students to know the principles and the events in which these principles manifested which lead up to the great american experiment, the history of our successful journey, and the reasons why the principles manifested in the bill of rights, the constitution, and the declaration of independence are worth fighting for. Throughout the entire student experience, both academic and extracurricular, we teach this value and ensure that our students understand its meaning. Global in perspective means that our students should understand that the usa is not alone in this world. The world is a complex place, and civilization and its cultures are constantly evolving. Defining the entire world with american values distorts the reality of a multicultural planet and limits one's perspective on the history of man's journey to the present time. Because america is a leader in the world, and because our students are destined to be leaders in america, we must understand and respect all points of view as part of gaining the wisdom to lead. Throughout the entire student experience, both academic and extracurricular, we teach this value and ensure that our students understand its meaning. Mutual respect, social graces, and politeness. Mutual respect is a cornerstone of civilization and a foundation of academia. It is what initiates a salute; it is what allows two people to appreciate each other for the value that they bring to the relationship, no matter how lasting or temporary the relationship is. It is common human decency, kindness, and a cornerstone of a civil society. Mutual respect turns into lasting friendship. Its successful breeding at norwich university is a primary reason why people develop close relationships with those they otherwise might not. In addition to mutual respect, norwich students and graduates are known for their grace in social situations and their politeness. The norwich environment breeds this characteristic. Throughout the entire student experience, both academic and extracurricular, we teach these values and ensure that our students practice them. Service is an integral part of the norwich experience. Leaders serve, and we train leaders. We seek to inculcate this value in our students, in part by ensuring that they directly experience it. Experiencing "service to others before self" is a vital part of each student's maturation process. Students take with them from norwich the expectation that service will be a lifelong commitment. Throughout t”

“Related entity net income -550,100. Bond administration fees -283,063. Change in present value of liabilities 756,532. Change in swap valuation 4,372,846.”