University of Hartford

“The executive committee of the board is authorized to exercise powers of the board when the board is not in session except those powers explicitly excluded in the board's by-laws and those powers which are not delegable under state law. There are no material differences in voting rights among members of the board.”

“The form 990 was prepared by independent tax consultants with information provided by management. Senior management reviewed and presented the form 990 to the audit committee for review prior to the filing date. The final form 990 was provided to the board members before the filing date.”

“The university has board-approved conflict of interest policies covering all board members, officers, and employees. The board policy is distributed annually to all board members. The policy for employees and officers is distributed annually and/or available on the university website. All officers, board members, and key employees are asked to report annually on whether or not they have any potential conflicts. Each reported conflict and potential conflict is reviewed and the relevant policy applied. Any person determined to have a conflict is removed from any affected decision-making process. The office of human resource development is charged with reviewing and recommending action on conflict of interest issues involving employees. Violation of university policies, including the conflict of interest policy, is subject to disciplinary action up to and including termination. Potential conflicts involving board members are reviewed and resolved by the board chair or president as appropriate.”

“Compensation of the following officers is reviewed and set by the compensation committee of the board: president, executive vice president and chief operating officer, provost, vice president for finance, vice president for development and alumni affairs, vice president for student affairs, vice president for marketing and enrollment, and the vice president, general counsel and secretary. The compensation committee considers compensation comparability studies as well as the performance of each individual. The deliberation and decision regarding the compensation is contemporaneously documented in board minutes. Compensation of college deans, which includes all key employees for purposes of form 990, is reviewed and set annually by the provost. As with compensation with officers, considerations include compensation comparability studies as well as the performance of each individual. The committee approves compensation changes as part of the annual budget process or as needed. The committee last met in summer of 2024.”

“Financial statements of the university are available upon request, and included on guidestar.org. The conflict of interest policy is available online as part of the university's employment manual and is also available upon request. Regarding governance documents, the act of authorizing the establishment of the university of hartford, 1957 connecticut special act no. 3, is available to the public as a public document. The university makes its corporate bylaws available for inspection upon request.”

“Regents are not compensated for their services. Faculty regents are compensated as employees of the university of hartford, not for services as regents.”

“Change in value of perpetual trust (hase, inc.) 2,686,132. Actuarial change in post-retirement benefits 1,548,232. Change in remediation liability -126,192.”