Suffolk University

“In the intervals between meetings of the board of trustees, the executive committee shall have and exercise the authority of the board of trustees in the management and execution of the affairs of suffolk university in all matters except those with respect to which authority is given in the university's bylaws to the administration and finance committee and except those which pursuant to law or specific sections of the bylaws require the vote of the board of trustees.”

“The controller of suffolk university is responsible for providing the information necessary for the university's tax advisor to prepare form 990. Recommended changes are discussed with senior management and incorporated into the return. The draft form is then provided to the audit, compliance, and risk management committee of the board of trustees sufficiently in advance of the filing deadline to enable a detailed and conscientious review by all members of the committee with senior management and the university's tax advisor. All questions and concerns of the audit, compliance, and risk management committee members are addressed and incorporated into the form as appropriate. After the audit, compliance, and risk management committee review, all members of the governing body are provided a link to a password-protected website on which the entire form 990 can be viewed in advance of the filing deadline. All questions and concerns of the members of the board of trustees are addressed by the interim cfo and treasurer and incorporated into the form 990 as appropriate. After all of the input from the board of trustees and the audit, compliance, and risk management committee has been appropriately addressed, the interim cfo and treasurer of the university is authorized to file the form 990 with the internal revenue service.”

“The audit, compliance, and risk management committee of the board of trustees is responsible for obtaining a conflict of interest disclosure statement from all board members, officers of the university, and all employees of the university holding certain positions as determined by the audit, compliance and risk management committee, referred to as covered persons. The disclosure statement is to be completed upon first acceding to the officer position, upon material change in the information requested, and in july of each year. The audit, compliance, and risk management committee provides the board with a summary report of any conflict of interest at least annually, and more frequently as appropriate. The audit, compliance, and risk management committee may invite the covered person to make a presentation at a meeting to discuss the transaction. The audit, compliance, and risk management committee will then determine by a majority vote whether the transaction is in the university's best interest, and whether it is fair and reasonable, and therefore whether the university may or may not enter into the transaction.”

“For the compensation setting process of the president, the board of trustees engaged an independent firm to analyze and compare the compensation of ceos at comparable institutions. A committee of the board of trustees worked with the independent firm to analyze the compensation data. After reviewing the results of the study and in consultation with outside counsel, the committee proposed compensation for the president. A contract was prepared by the outside counsel, which was voted on and approved at a meeting of the full board of trustees. Future amendment/contract changes are reviewed by counsel. For the compensation setting process of other officers and key employees, the board of trustees engaged an independent firm to analyze and compare the compensation of individuals in comparable positions at comparable institutions. A committee of the board of trustees worked with the independent firm to analyze the compensation data. The compensation for all officers and key employees with multi-year contracts is voted on and approved at a meeting of the full board of trustees. Form 990, part vi, section b, line 16: the university participates in a joint venture agreement that helps universities expand international recruitment and ensures international students' success on campus through proven programs that better prepare students for academic success. The joint venture includes two parties and is governed by a eight member board of directors comprising four representatives from each organization. Prior to signing, the agreement was reviewed by internal and external legal counsel to ensure it complied with tax regulations. The revenue recognized pursuant to the agreement is considered in part viii as related or exempt function revenue. The agreement also includes a provision for terminating the agreement in the event that continuation of the agreement would cause the university to lose its tax-exempt status.”

“All requests for governing documents, conflict of interest policy, financial statements, and tax returns are received by the president and/or vice president's offices and are turned over to the interim cfo and treasurer's office for immediate response. Tax returns and financial statements are also available on the massachusetts attorney general and guidestar websites.”

“Description of organization mission: at suffolk university we are driven by the power of education, inclusion, and engagement to change lives and positively impact communities. Committed to excellence, we provide students with experiential and transformational learning opportunities that begin in the center of boston, reach across the globe, and lead to extraordinary outcomes for our graduates.”

“Revenues related to the university's program services are allocated based on the school in which academic courses are taught. Expenses are allocated based on the fte enrollment in the respective schools.”

“Change in value of split interest -40,699. Foreign exchange adjustment -13,053. Post retirement benefit obligation -10,136. Other non-operating expenses -1,331,425.”