Iona University

“As provided in Article VII, Section 6 of the By-Laws, The Executive Committee shall be composed of the President of the College, the Chair and Vice Chair of the Board of Trustees and all chairpersons of standing committees, The Chair of the Board of Trustees shall be the Chair of the Executive Committee. The Chair, after consultation with the President, may appoint any other member of the Board to serve on the Executive Committee. The Committee's responsibilities shall include the following: 1. Between meetings of the Board of Trustees, supervising the general property and business affairs of the College except, that unless specifically empowered by the Board of Trustees to do so, it may not take any action inconsistent with a prior act of the Board of Trustees, alter by-laws, remove or appoint the President of the College or take any action which has been reserved to the Board; 2. Convening the Committee upon the call of the Chair or, on the request of the President, or on the request of at least three (3) members of the Committee; and 3. Reporting to the Board all actions taken by the Executive Committee since the last meeting of the Board.”

“The bylaws have been amended for the following: 1. For a trustee to succeed themselves in office, there must be positive re-nomination recommendation by the Committee on Trustees and Governance members assigned to conduct a review of each Trustees performance and then upon re-election by a majority vote of the Board of Trustees then in office. 2. The Committee on Trustees and Governance members so assigned will review the performance of each Trustee based on multiple criteria including but not limited to the "Expectations of a Trustee" prior to the end of the Trustee's current term and, at the sole discretion of the Committee on Trustees and Governance assigned members will determine Trustees eligibility for an additional term. 3. The terms of re-elected Trustees start at the beginning of the fiscal year of the College. 4. Elections for officers of the board shall generally be held at the Annual Meeting of the Board as appropriate and the terms of newly elected Officers shall commence at the start of the College's fiscal year. Elections of Officers to fill positions left vacant during the course of the fiscal year may be held at any Board meeting and the term of the newly elected Officer shall then begin immediately and continue for the remainder of that fiscal year. After completing service for the remainder of that fiscal year, said Officer may then serve the standard two-year term and may subsequently succeed themselves for up to two additional terms, each of these two additional terms contingent upon majority vote of the Trustees at the Annual Meeting. 5. Powers of trustees includes review, approve and/or amend College handbooks, governing documents and policies, particularly those with potential fiduciary impact.”

“The form 990 is prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 is circulated to the full board of trustees for discussion and comment. Each board member is provided ample opportunity to comment on the information contained in the form 990 prior to its electronic filing with the irs.”

“EACH TRUSTEE OF THE COLLEGE IS REQUIRED UPON APPOINTMENT AND ANNUALLY TO DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT, BOARD SERVICE, OR POSITION WITH THE COLLEGE. THE COLLEGE MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS BY THE SECRETARY OF THE BOARD. The Secretary provides a copy of all completed statements to the Chair of the Audit, Compliance and Risk Committee and the Chair of the Board. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. Should a potential conflict arise, they are reviewed by the Audit, Compliance and Committee, which will attempt to resolve any actual or potential conflict and, in the absence of resolution, will refer the matter to the Board of Trustees for resolution.”

“The college undertakes a thorough process to ensure that the executive compensation it pays to its top management official is reasonable given the market in which the college operates. In relevant part, the board of trustees has established a compensation committee of independent persons that have no personal interest in the proposed compensation agreement. Contemporaneous substantiation for the compensation review is with the compensation committee minutes which includes the use of comparative data available in the market. The process was most recently performed in may 2020.”

“The organization does not ordinarily make its governing documents, conflict of interest policy and financial statements available to the public, however if requested will be provided at management's discretion.”

“Conference Services - Total Revenue: 948680, Related or Exempt Function Revenue: 948680, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; OTHER REVENUE - Total Revenue: 1097741, Related or Exempt Function Revenue: 1090036, Unrelated Business Revenue: 7705, Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Change in postretirement benefit obligation - 1545000;”