Long Island University

“FORM 990, PART I, LINE 1 BRIEF DESCRIPTION OF ORGANIZATION'S MISSION To provide excellence and access in private higher education to people from all backgrounds who seek to expand their knowledge and prepare themselves for meaningful, educated lives and for service to their communities and the world. FORM 990, PART III, LINE 1 MISSION: ACCESS AND EXCELLENCE LONG ISLAND UNIVERSITY WAS FOUNDED ON THE PRINCIPLE OF EDUCATING AND EMPOWERING MEN AND WOMEN FROM ALL WALKS OF LIFE. THROUGH OUR MISSION OF ACCESS AND EXCELLENCE, THE LIU COMMUNITY REMAINS COMMITTED, ABOVE ALL ELSE TO THE EDUCATIONAL NEEDS AND INTERESTS OF OUR DIVERSE STUDENT BODY. WE STRIVE TO CULTIVATE AND EXPAND ACADEMIC, PROFESSIONAL, ARTISTIC AND CO-CURRICULAR OPPORTUNITIES, ENABLING STUDENTS TO REALIZE THEIR FULL POTENTIAL AS ETHICALLY GROUNDED, INTELLECTUALLY VIGOROUS AND SOCIALLY RESPONSIBLE GLOBAL CITIZENS.”

“Form 990, part vi, line 11b form 990 is prepared by an independent accounting firm (kpmg) based on information provided by the business and finance division of the university. The audit committee then reviews the form 990 in a meeting attended by committee members, management and the independent accountants. A copy of the final form 990 is provided to the each member of the board of trustees prior to filing the return with the irs. The audit committee chair, chief financial officer and the independent accountants are available to the board for questions.”

“Form 990, part vi, line 12c all officers, directors and key employees annually complete a questionnaire to disclose potential conflicts. The questionnaire includes key definitions and examples. In addition, the conflict of interest policy is annually reviewed with officers, directors and key employees and the same are regularly reminded to disclose any changes. For all actual or potential conflicts that are identified by management, the affected person is asked to recuse himself or herself from all deliberations, transactions, negotiations and other matters relating to any such interest. New officers, directors and key employees undergo an orientation which includes a review of the conflict of interest policy.”

“Form 990, part vi, line 15 a/b compensation for the university president and other university officers is established by a process that includes the use of comparability data, review and approval by the compensation committee of the university's board of trustees, and contemporaneous recordkeeping of deliberations and decisions. The compensation committee consists of the chair of the board of trustees, the secretary and the university chancellors. The president does not participate in the setting/review of her compensation and all decisions are made by independent persons without a conflict of interest with respect to compensation arrangements. The most recent review took place in october 2014.”

“Form 990, part vi, line 19 long island university publishes an annual report to the community which includes financial statement highlights. This report is available on the university's web site. The university's conflict of interest policy, audited financial statements and form 990 are available to the general public on request. The 990 is also available at www.guidestar.org.”

“FORM 990, PART XI, LINE 9 POSTRETIREMENT CHANGES ....................................$ (2,225,617) CHANGE IN FMV OF INTEREST RATE SWAP AGREEMENTS ............$ (1,692,526) CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS ..............$ (198,291) Other nonoperating change in net assets....................$ 50,158 -------------- $ (4,066,276)”