Wesleyan University

“Form 990 review process the university's fiscal year end is june 30. The audited financial statements are finalized in late october due to the time it takes to value endowment assets. During november and december, a tax committee consisting of university general counsel, chief financial officer, and controller meet to discuss any significant changes in policies, governance, management and other activity. In addition, the finance office reaches out to other departments such as academic affairs, officer of advancement, and admissions to determine potential filing activity. During january and february the controller's office works with the external auditors to complete a draft document for the annual audit committee meeting. The document is provided to each member of the audit committee and discussed during the meeting. The chair of the audit committee will summarize the review to the full board of trustees at the next meeting. The final return is filed in may with a copy of the final return made available through the trustee secure portal a couple of weeks prior to the final filing to each voting member of the governing board.”

“Conflict of interest policy the university posts its conflict of interest policy on its website and requires questionnaire completion from university faculty, staff and trustees on an annual basis. Faculty and staff are collected electronically through network sign on. Conflict of interest questionnaires from board members are collected by the secretary of the university and reviewed by legal counsel. Responses are monitored by the university general counsel in conjunction with the president's office. Any supervisor receiving notice of a potential conflict of interest shall determine whether the situation presents a potential conflict of interest under this policy and document their determination in writing. Unless the supervisor is able to clearly determine that no such conflict exists or in the case that the individual disagrees with the supervisor's decisions, the supervisor shall require the individual to disclose the situation in writing and the supervisor and/or individual shall forward that description to an appropriate vice president or senior officer of the university. The supervisor shall not permit any individual to participate in the questionable activity unless and until a vice president or senior officer of the university has reviewed the activity and confirmed in writing that the activity may continue and/or that there are relevant safeguards in place to protect the university. Any individual who disagrees with a conflict-related decision of any vice president or senior officer may seek review by the president of the university whose decision shall be final. On an annual basis the university distributes and requires individuals to complete a statement a) confirming that they have read and understood the conflict of interest policy and b) that they have no knowledge of any conflict of interest except for those appropriately disclosed under the policy.”

“Compensation policy wesleyan university's salary administration is designed to accomplish three major objectives: - attract and retain highly qualified staff members; - link compensation to performance; and - promote consistency and an internally equitable relationship between salary and responsibility a compensation committee of the board of trustees, composed of three members and chaired by the chair of the board of trustees, is responsible for evaluating the compensation reasonableness for all officers and key employees as determined from time to time. The committee reviews the performance appraisal of the president by the board, determines the compensation of the president, and sets goals and performance measures for the following year. The committee begins discussion in the second half of the academic year. Wesleyan participates in an annual survey of its peers conducted by a private consultant. This process ensures that the university remains consistent with the regulatory and legal requirements of compensation in a 501(c)(3) non-profit organization. The process for determining the compensation of the president meets the three requirements of the rebuttable presumption standard. The compensation arrangment is approved in advance by the organization's compensation committee. The committee is appointed by the board of trustees for the purpose of assisting the board to fulfill its responsibility to the organization and the community to ensure the compensation is in accordance with the organization's policies. Prior to making any compensation decisions, the compensation committee obtains and relies upon appropriate data as to comparability. The committee utilizes local and national compensation surveys to set compensation levels. Finally, the executive compensation committee adequately and timely documents the basis for setting compensation concurrently with the making of the determination.”

“Public disclosure the university posts its governing documents on its website at www.wesleyan.edu/generalcounsel. In addition, the university's audited financial statements and form 990 are on its website at www.wesleyan.edu/finance. Other governing documents are available upon request.”

“Organization's mission i. Wesleyan university is dedicated to providing an education in the liberal arts that is characterized by boldness, rigor, and practical idealism. At wesleyan, distinguished scholar-teachers work closely with students, taking advantage of fluidity among disciplines to explore the world with a variety of tools. The university seeks to build a diverse, energetic community of students, faculty, and staff who think critically and creatively and who value independence of mind and generosity of spirit. Ii. Values and culture *as a learning community* wesleyan educates students to become independent thinkers capable of continuing to learn and able to translate intellectual rigor into real-world action. At wesleyan, students are driven to make knowledge more available and more meaningful, to push insights across borders into new domains, and to engage with new or neglected audiences. They discover what they love to do and get better at it - while constantly being challenged to make what they learn relevant to others. Wesleyan creates an environment in which students can strive for excellence through hard work that is joyful and satisfying. Alumni of the institution continue to draw on their learning experiences for the rest of their lives and remain devoted to the institution. *as a center for creative practice* wesleyan attracts faculty and students who find enormous value in independent research, scholarship, and creative practice. Professors embrace their role as scholars-teachers and are energized by their students' deep inquisitiveness, unguarded curiosity, and eagerness to explore beyond the syllabus. The university's small graduate programs in the sciences and music facilitate collaborative research. Undergraduates are given opportunities for advanced independent work through which they increase their intellectual capacities and discover aspects of themselves and the world that will remain meaningful to them long after graduation. Members of the wesleyan community address scholarly issues of importance to their respective fields and regularly produce work that goes beyond academic realms to have a positive impact on public life. *as an institutional citizen and leader in education* wesleyan inspires faculty, staff and students to play active roles as neighbors and citizens. The university contributes economically and culturally to middletown, and it instills in its graduates a sense of civic possibility and purpose. Wesleyan alumni create opportunities to integrate service into their professional and personal lives and generously support the educational enterprise on campus. The university supports the continued evolution of a liberal arts education and makes a case for its importance in the public sphere. Members of the wesleyan community regularly go on to distinguished careers in public service, and the university provides support for disseminating scholarship that can have positive public impact.”

“Change in value of split-interest agreements 3,146,000. Postretirement benefit obligation changes -1,397,000.”