Trustees of Clark University

“Two of Clark's Trustees are related. Robert Stevenish and Robert Stevenish II are father and son.”

“Members of the Clark University Board of Trustees are responsible for the election of trustees for vacant positions. The Alumni Association recommends candidates to be the alumni trustees to the Board and the Board selects an alumni trustee annually.”

“The Audit Committee of the Board of Trustees was authorized and requested to review the administration's draft responses to the Form 990. This was completed at the February 13, 2020 meeting of the committee. The Board has authorized submission to the Internal Revenue Service with the approval of the Audit Committee. In addition, a draft of the 990 is posted on the trustee web page and each member is notified of the opportunity to review before submission.”

“Each trustee, senior administrator, and faculty member is required to complete annually a conflict of interest disclosure form. Faculty forms are reviewed by the Grants Office within the Office of Academic Affairs. Trustees and senior administrators' disclosures are reviewed by the Assistant Secretary of the Corporation and the Executive Vice President, who is also the Treasurer of the Board of Trustees.”

“Periodically, the Chairman of the Board of Trustees requests the Executive Vice President to provide comparable institution compensation data. Data is obtained from a combination of information disclosed in the Chronicle of Higher Education and from salary surveys, including those available from the College and University Personnel Association (CUPA). These data are submitted directly without editing. The Board Chair advises the full Board of Trustees of the compensation level of the President. The University also engages a professional compensation consultant and has established an Executive Compensation Committee. The Committee, which meets annually, is charged by the full Board of Trustees with establishing the President's compensation with the assistance of the consultant, who develops appropriate metrics and collects comparable institutional survey data.”

“Clark University's governing documents, conflict of interest policy and financial statements are all considered public documents. The governing documents, including the provisions of Jonas Clark's will, the by-laws of the University and the Articles of Incorporation are available for viewing in Goddard Library and are also publicly available as a result of several public debt issuances through the Massachusetts Development Finance Agency (MDFA). Financial statements are similarly available and are also posted on the University's website and through Guidestar. The conflict of interest policy is available upon request from the Board of Trustees and the Office of Sponsored Programs and Research.”

“The Trustees of Clark University herein amend the originally filed form 990 for the year ending 5/31/2019 due to a correction in the allocation of compensation in Part IX lines 5 and 7. Changes to the original return are as follows: Part IX, Line 5, Column A, decrease of $68,311. Part IX, Line 5, Column B, decrease of $3,104, Part IX, Line 5, Column C, decrease of $65,207. Part IX, Line 7, Column A, increase of $68,311. Part IX, Line 7, Column B, increase of $3,104. Part IX, Line 7, Column C, increase of $65,207. Total expense in all columns remains unchanged.”

“Change in value of split interest agreement, -$331,992. Change in value of interest rate swap, -$558,099. Change in value of beneficial interest in outside trust, $29,464. Change in post-retirement health obligation, -$45,112. Settlement gain post-retirement health insurance liability, $624,128. Student loan activity-net, $40,018.”