The Trustees of the Stevens Institute of Technology

“The University's conflict of interest policy requires ongoing compliance and self-reporting of conflicts. It also provides for completion of an annual disclosure form by all Trustees, officers and faculty. Each disclosure form is reviewed by the Office of Audit, Risk and Compliance, and disclosure forms for trustees and officers are reviewed by the Office of General Counsel; all conflicts of interest are reported to the Audit Committee of the Board and to the Board of Trustees. Information disclosed in the disclosure forms which indicates the presence of a conflict is investigated, discussed with relevant personnel and, if necessary, the conflict is eliminated or managed pursuant to a conflict management plan or device supervised by the Chair of the Board of Trustees or the Chair of the Audit Committee, with advice from the Office of Audit, Risk and Compliance and the General Counsel. In addition, conflicts are identified by the officers of the Institution and staff at other levels of the Institution as they arise from time to time and are referred to the Office of Audit, Risk and Compliance and the General Counsel for further analysis and resolution. Certain conflicts relating to research activities may be managed by the Director of the Office of Sponsored Programs, with advice from the Office of Audit, Risk and Compliance and the General Counsel.”

“The compensation of the President and five highest compensated employees of the University was approved by an independent Human Resources Committee of the Board of Trustees and the full Board of Trustees, in each case acting at meetings duly held. IN ADDITION TO APPROVING THE PRESIDENT'S COMPENSATION FOR CALENDAR YEAR 2018, THE COMPENSATION FOR THE FOLLOWING 5 ADDITIONAL POSITIONS WERE APPROVED: Provost and University Vice President Chief Financial Officer, Vice President for Finance and Treasurer VICE PROVOST FOR RESEARCH VICE PRESIDENT, GENERAL COUNSEL AND SECRETARY Dean of School of Business With respect to the following additional positions, the Human Resources Committee of the Board of Trustees, acting on behalf of the Board of Trustees, approved the compensation at duly held meetings of the Committee. The Board was fully informed of the Committee's actions: Vice President for Alumni and Development Vice President for Facilities and Campus Operations Vice President for Enrollment Management and Student Affairs Vice President for Information Technology and CIO Vice President for Communications and Marketing Vice President for Human Resources Vice President for Government and Community Relations, Chief of Staff Faculty Trustee (2) Professor, Endowed Chair (Former Provost) All such compensation was determined based upon recommendations from the President (except with respect to the President, whose compensation is recommended by the Board of Trustees, and the Deans and faculty, whose compensation is recommended by the Provost). The University retains the services of a nationalLY PROMINENT compensation consulting firm to perform a comprehensive compensation assessment of the salaries of all members of the senior administration, including the President. This study includes a comparison of the University's salaries with a core GROUP OF PEER INSTITUTIONS. The results of the study are reviewed and discussed annually with the Board's Human Resources Committee and the Board of Trustees, as those bodies approve executive compensation. The Secretary to the Board of Trustees OR THE VICE PRESIDENT OF HUMAN RESOURCES took contemporaneous minutes of each meeting of the Board at which these compensation decisions were made. Neither of them took minutes with respect to their own compensation.”

“The governing documents of the University together with charters for EACH committee of the Board of Trustees, the conflict of interest policy and the financial statements of the University are all made available on the University's website (www.stevens.edu). In addition, a variety of other documents and materials regarding the University and its operations as well as the other policies of the University, are also available on the website.”

“The full legal name of the University is The Trustees of the Stevens Institute of Technology. Stevens Institute of Technology is registered in the State of New Jersey as a "doing business name". GOVERNING BODY AND MANAGEMENT - FORM 990, PART VI, LINE 3 Stevens' Board of Trustees delegated to a prominent investment bank the management of Stevens' endowment pursuant to contracts which address the scope of the delegation of authority, monitoring by Stevens' management and the Board, and reporting, among other matters. The University retained Attain, LLC, to provide the services of a professional trustee to serve as the Chair of Stevens' Audit Committee (as contemplated by the University's by-laws). During fiscal year 2019, the university paid Attain $48,690 for these services. This role was filled by Ronald E. Salluzzo, partner EMERITUS (RETIRED) IN ATTAIN, LLC,S higher education and academic medical center practice. Form 990 Review - Form 990, Part VI, Line 11B This Form 990 was prepared by members of the finance and legal offices of the University together with its outside tax and accounting firm specializing in higher education. The Form 990 was then presented to the Audit Committee of the Board of Trustees for review and approval. Following this process and any modifications recommended by the Audit Committee, the Form 990 was presented to a meeting of the full Board of Trustees of the University and approved in accordance with the By-Laws of the University.”

“Post-Retirement Benefits - Other Components $ (326,014) of Periodic Costs CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 180,005 UNCOLLECTIBLE CONTRIBUTIONS (10,069,343) ---------- TOTAL $(10,215,352)”