Fairleigh Dickinson University

“The University's Board of Trustees assigned the primary responsibility for the detailed review of Form 990 to the Finance Audit and Budget Committee (the "FABC") of the Board. The FABC has worked closely with management to become familiar with the requirements and to ensure that the University's policies and procedures accurately reflect its operations. The draft Form 990 was reviewed by management with oversight responsibility prior to the submission to the governing body for review. The FABC reviewed the Form 990 (excluding Schedule B due to the confidential nature of the information) at its meeting on April 22nd, 2015 after receiving the draft document several days in advance. This review also included the University's officers. The draft Form 990 is subsequently revised as necessary and distributed by mail to all members of the Board of Trustees, allowing sufficient time for their review prior to the filing date.”

“Fairleigh Dickinson University is committed to the highest standards of ethics in all aspects of the operation of the University and has a written conflict of interest policy for all members of the University community (trustees, officers, faculty members, staff members, student employees, consultants or anyone else who has an official affiliation with the University). This policy requires trustees, officers, faculty members and staff members to avoid conflicts of interest and the appearance of impropriety in University transactions. Trustees, officers, and key employees are required to provide a signed conflict of interest disclosure annually to the University's general counsel, who is responsible for the administration of the policy. The policy states that no member shall make recommendations, vote, deliberate, or participate in decision-making where a conflict exists. The University's conflict of interest policy is also available on the University's website. The policy calls for any member of the University to make disclosures regarding policy violation to the general counsel for investigation. In addition, the University's Finance Department monitors payment requests and flags questionable items. Such items are referred to the general counsel for analysis, investigation, and guidance.”

“The Board of Trustees Compensation Committee is responsible for making recommendations to the Board of Trustees Executive Committee concerning compensation of the University President, and setting compensation and other terms and conditions of employment for officers of the University in consultation with the President. The process for determining compensation includes retaining an independent firm triennially to study executive compensation to assure that the compensation of each officer is consistent with market trend and in compliance with regulations. The most recent study was completed in 2013. The Compensation Committee is also responsible for conducting or commissioning any necessary survey or studies and report the results of such surveys and studies to the Board of Trustees. Meetings and decisions of the Committee are documented contemporaneously in Committee minutes.”

“The University's Form 990, Form 990-T and Form 1023 are made available to the general public by written request to the Associate VP of Finance, C/O Fairleigh Dickinson University, 1000 River Road, Teaneck, NJ 07666-1914, or by visiting either one of the University campus libraries located in Teaneck or Madison, New Jersey.”

“The University's conflict of interest policy and financial statements are made available to the general public on the University's website at WWW.FDU.edu/. The conflict of interest policy, financial statements and governing documents are also available upon written request to the Associate VP of Finance, C/O Fairleigh Dickinson University, 1000 River Road, Teaneck, NJ 07666-1914.”

“The number of volunteers is determined by using actual headcount from the University's database. The total includes volunteer members of the University governing body. Volunteers provided benefits to a variety of University programs and departments such as athletics, bookstore, radio station, food services, campus ministries, and adjunct faculty.”

“Change in the FMV of Trusts.”