Clarkson University

“Bayard D Clarkson Sr. and Bayard D Clarkson Jr. are both current Trustees and have a family relationship.”

“The following process was observed by the University regarding the IRS Form 990: The return was prepared by management with a review performed by a qualifying tax consultant; a draft was presented to the Audit Committee of the Board of Trustees for review and approval; a copy of the final return was distributed to all board members before electronically filing the return with the Internal Revenue Service.”

“All trustees, officers and key employees are required to annually complete a conflict of interest statement. The statements are reviewed by the chair of the Audit Committee and addressed in governance meetings as needed.”

“The Universitys top management official is the President, the Chief Financial Officer is the Treasurer of the corporation, the Vice President for External Relations is the Assistant Secretary to the Board of Trustees and the key employees are as follows: Dean of the Graduate School, Director of Facilities and Services, Interim Dean of the School of Business, Interim Dean of the School of Arts and Sciences, Vice President for Enrollment and Student Advancement, Dean of the School of Engineering and the Interim Vice President for Development and Alumni Relations. The above positions compensation packages are reviewed by the Compensation Committee of the Board of Trustees Executive Committee. The committee conducts a comprehensive review by using data from multiple sources (most notably, data from independent compensation consultants, the Association of Independent Technological Universities and the College & University Professional Association of Human Resources) for comparable Universities. Performance input was solicited from the full board and Executive Committee into the Compensation Committee deliberations and documented in the Executive Committee meeting minutes. This process is performed annually. The University believes its procedures regarding executive compensation meet the rebuttable presumption requirements described in regulation section 53.4958-6(c).”

“The University posts its Conflict of interest policy on its website in the Operations Manual found under the Human Resources link. The consolidated financial statements are available on the Universitys website, while the IRS Form 990, Form 990T, and governance documents are made available upon request.”

“Clarkson University is an independent, nationally recognized technological university whose faculty of teacher-scholars aspires to offer superior instruction and engage in high-quality research and scholarship in engineering, business, science, health, and liberal arts. Our primary mission is to educate talented and motivated men and women to become successful professionals through quality pre-collegiate, undergraduate, graduate and professional continuing educational programs, with particular emphasis on the undergraduate experience. Our community and campus settings enhance the quality of student life and afford students access to, and interaction with, their faculty. We value the diversity of our University community, and we strive to attune ourselves and our programs to our global, pluralistic society. We share the belief that humane economic and social development derive from the expansion, diffusion and application of knowledge.”

“Related entity revenue $ (42,815) Change to post-retirement benefits $ 13,271,680 Change in value of split-interest agreements $ 105,521 --------------- Total $ 13,334,386”