Drew University

“The form 990 was reviewed by the audit committee and provided to all the members of the board of trustees. All members of the board of trustees are provided with a copy of the form 990 via the trustee website. Generally this is done prior to its filing with the irs, but for fiscal year 2020, the review was done just after filing with the irs.”

“All decisions of the board of trustees, officers, and employees of drew university are to be made solely on the basis of a desire to promote the best interests of the university. It is, therefore, the policy of the board and the university that: (1) all activities or behavior which conflict with the best interests of the university are prohibited. This could include but would not be limited to (a) use of university resources - for a university trustee, officer, or employee to make improper use of any university resources, including the services of university employees, for his or her own personal benefit, (b) compliance with rules - for a university trustee, officer, or employee to fail to comply with the university's duly established rules, regulations, or standards of personal behavior (c) disclosure of confidential information - for a university trustee, officer, or employee, without proper authority, to give or release to anyone not authorized to receive such information, any data of a confidential nature secured through his or her relationship to the university (d) acceptance of gifts - for a university trustee, officer or employee, or any dependent member of his or her immediate family to accept from any organization or person that they know to be doing or seeking to do business with the university, a loan or a gift or favor of more than nominal value. This paragraph shall not be deemed to prohibit loans made in the normal course of business with the terms standard for such loans from banks or financial institutions that may have or expect to have relations with the university (e) competition with the university - for a university trustee or officer, directly or through a corporation in which he or she has a substantial interest, to engage in, for remuneration, any other activity which is in direct competition with the university, except with the knowledge and written consent of the president or the president's designee. If the activity is that of the president, such consent must be given by the chair of the board. (2) involving the university and a member of the board or any officer of the university (or a member of his or her immediate family), or an organization with which a member of the board or any officer of the university is "affiliated," such trustee or officer, as soon as he or she has knowledge of the transaction, shall (a) disclose fully the precise nature of his or her interest or involvement in such transaction and/or such organization, and (b) refrain from participation in the university's consideration of the proposed transaction for the purposes of this conflict of interest policy, a trustee or officer is "affiliated" with any organization of which he or she (or a member of his or her immediate family) is an employee, general partner, member of the board of directors, trustee, or in which he or she (or a member of his or her immediate family) owns 10% or more of the outstanding stock. (3) that the following persons disclose to the university on a continuing basis all their relationships and business affiliations that reasonably could give rise to a conflict of interest, or the appearance of a conflict of interest, involving the university - the trustees (including the president), the vice presidents of the university, the deans, and such other officers as the president shall designate as being officers from whom, because of their respective duties and responsibilities, the university should receive a continuing disclosure of such outside relationships and business affiliations. All disclosures required to be made hereunder must be directed in writing to the executive committee of the board of trustees which shall have, with the assistance of the vice president of finance and administration, the responsibility for monitoring of this policy, including the administration and enforcement thereof. The executive committee shall be advised immediately of any disputes or other issues arising out of the applicati”

“Compensation for the president, other officers, and key employees is determined by the drew board of trustees on the recommendation of the board's executive compensation committee. No individuals with a conflict of interest may be involved in the compensation determination process. Comparability data for similarly qualified persons in functionally comparable positions at similar organizations is prepared by the organization and reviewed by the board's executive compensation committee. The minutes of the board of trustees and its executive compensation committee document the board's and committee's deliberations and decisions regarding compensation. Compensation reviews take place in may of each year. The benchmark data is derived from a custom report of about 68 institutions that are similar to drew in size, scope, and operating budget. Mean and median salaries for positions that are comparable to drew's administrative officers are derived from the data provided by cupa and used to determine the benchmark. The benchmark is used by the committee to determine the appropriateness of current salaries, salary increases, and salaries of new executive hires.”

“The university makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Drew is located on a beautiful, wooded, 186-acre campus in madison, new jersey, a thriving small town close to new york city. It has a total enrollment of more than 2,000 students and has 150 full-time faculty members, 99% of whom hold the terminal degree in their field. The theological and caspersen schools offer ma and phd degrees and the college confers ba and bs degrees in more than 30 disciplines. Drew's new, one-of-a-kind, leading edge path to an undergraduate degree, launch, syncs career development with rigorous academics and powerful community and will roll out in fall 2019. Particularly noteworthy opportunities for undergraduates include the charles a. Dana research institute for scientists emeriti (rise), home of 2015 nobel prize winner for medicine and drew fellow william campbell, the drew summer science institute (dssi), the center for civic engagement, as well as new york city semesters focusing on wall street, the united nations, contemporary art, theatre, social entrepreneurship and communications and media in new york city and several international semester programs.”

“Change in fair value of trusts, pooled income fund, and gift annuities -185,643. Postretirement related changes other than net periodic postretirement cost -1,397,939. Change in investment in copper beach 4,122,070.”