Wagner College

“THE COLLEGE On January 30, 2020, the World Health Organization declared the outbreak of the coronavirus disease 2019 ("COVID-19") a global health emergency and subsequently declared the COVID-19 outbreak a global pandemic in March 2020. The pandemic has adversely affected domestic and global activity, and the full impact continues to evolve as of the date of this report. In reaction to the outbreak, federal, state, and local governments have issued mandates that have disrupted businesses and resulted in an overall decline in economic activity. The COVID-19 pandemic forced the College to suspend in-person classes and move to a virtual environment for a portion of the spring 2020 semester. Students living in residence halls were encouraged to return to their primary residences, and subsequently all administrative buildings on campus were closed, with the exception of essential services. The College refunded prorated charges for rooms and meal plans relating to the spring 2020 semester totaling approximately $2,800,000. The College expects for the fiscal year ended August 31, 2021 to be affected by the COVID-19 pandemic. The College has seen reductions in student enrollment for the fall 2020 semester resulting from the governmental mandates to control the spread of the virus. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security ("CARES") Act was signed into law, which among other things, created the Higher education Emergency Relief Fund ("HEERF"). The College applied for HEERF funds to provide emergency grants to help students and their families facing additional expenses related to the disruption of regular campus operations, as well as to help cover College expenses related to the disruption of campus operations due to COVID-19. During the fiscal year ended August 31, 2020, $716,449 was disbursed to qualifying students and recorded as revenue within government grants and contracts on the accompanying 2020 statement of activities. Furthermore, during the year ended August 31, 2020, $744,129 was used to reimburse the College for refunds made to students for housing and meal plans during the spring 2020 semester. Of this amount, the College satisfied conditions allowing revenue recognition for $716,449, and this amount was recorded as revenue within government grants and contracts on the accompanying 2020 statement of activities. Family Relationship Part VI, Section A. Governing Body and Management, Line 2 Board members Alex Fox and Graham Fox have a family relationship. Board Review of Form 990 Part VI, Section B. Policies, Line 11B Wagner College's 990 is prepared internally by the College's Finance & Business Office. Wagner then sends a draft of the return to an independent tax group at Grant Thornton LLP for review. The 990 is then brought to the Audit Committee for discussion, and lastly is provided to the Board of Trustees during a Board meeting for review before the 990 can be filed.”

“Part VI, Section B. Policies, Line 12C Wagner College has a conflict of interest policy in place, and consistently monitors and enforces compliance with such policy. Each year, conflict of interest statements are sent out to all members of the Board of Trustees, who then must disclose any transactions with interested parties. If there are any such transactions, the College would ensure that the transaction is arms-length. To date, there have been no non-arms length relationships noted.”

“Part VI, Section B. Policies, Line 14 Wagner College has a document retention and destruction policy in place that is followed by many offices on campus; however, the policy has not been put in front of the Board of Trustees for approval as of yet.”

“Part VI, Section B. Policies, Line 15A & 15B WAGNER COLLEGE'S EXECUTIVE COMMITTEE, WHICH IS COMPRISED OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES, DETERMINES THE COMPENSATION OF THE COLLEGE'S PRESIDENT, AND REVIEWS AND APPROVES THE COMPENSATION OF ALL SENIOR OFFICERS. BOTH THE EXECUTIVE COMMITTEE AND THE BOARD MUST REVIEW AND APPROVE COMPENSATION. COMPENSATION IS DETERMINED THROUGH REVIEW OF THE FORM 990 OF OTHER COMPARABLE AND LIKE-SIZE ORGANIZATIONS. THE EXECUTIVE COMMITTEE ALSO REFERS TO COMPARABLES AND SALARY SURVEYS, mainly cUPA, ON AN ANNUAL BASIS TO DETERMINE THE REASONABLENESS OF PROPOSED COMPENSATION AMOUNTS. ANY COMPENSATION DETERMINATIONS OF THE EXECUTIVE COMMITTEE ARE RECORDED CONTEMPORANEOUSLY IN THE MINUTES OF THE COMMITTEE.”

“Part VI, Section C. Disclosure, Line 19 Wagner College makes its financial statements AND ITS FORM 990 available to the public upon request. The College also provides a link to the annual report on the College website (www.wagner.edu), which includes the balance sheet and other financial information.”

“Part XI, Line 9 THE BALANCE of $44,527 REPRESENTS TOTAL EXPENSES RELATED TO THE GOLF CLASSIC FUNDRAISING EVENT FOR THE FISCAL YEAR.”