Saint Peter'S University

“The executive committee is comprised of not less than five members and includes the chair and vice chair of the board, the chair of each standing committee of the board, the president of the university, and such other trustees as the board of trustees may from time to time designate in its discretion. To the extent permitted by general law, and subject to such contrary instructions, rules or regulations as may from time to time be issued by the board of trustees, the executive committee shall have full power to act for the board of trustees between meetings of the board, except that the executive committee shall not have the power to grant degrees or to elect or remove from office.”

“The organization's board of trustees has several committees that meet on a regular basis. Although there is no formal contemporaneous documentation for these meetings at the committee level, each committee reports directly to the organization's board of trustees wherein all discussions at the committee levels are documented in written meeting minutes of the full board of trustees.”

“Saint peter's university ("university") federal form 990 was provided to each voting member of its governing body - its board of trustees - prior to filing with the internal revenue service ("irs"). However, the version provided was not a complete copy because names and addresses of contributors on schedule b were redacted to protect the privacy of the university's donors, which includes board members. In addition, the university's audit committee performed a detailed review of the federal form 990. The university's board of trustees has delegated to the audit committee the responsibility to oversee and coordinate the federal form 990 preparation, review, and filing process for the university and its affiliates. As part of the tax return preparation process, the university hired a professional cpa firm with experience and knowledge in both education and not-for-profit tax return preparation to prepare the federal form 990. The cpa firm's tax professionals worked closely with the university's finance personnel to obtain the information needed to prepare a complete and accurate tax return. The cpa firm prepared a draft federal form 990 and furnished it to the university's finance personnel for review and any necessary revisions were made to the draft. Following the finalization of the review and approval of the form 990 by the finance personnel the university's audit committee performed a detailed review. In conjunction with the audit committee meeting wherein the form 990 was presented and discussed, the form 990 was provided to each voting member of its governing body and approved for filing with the internal revenue service.”

“Saint peter's university (the "university") regularly monitors and enforces compliance with its conflict-of-interest policy. Annually, all members of the board of trustees, directors, officers, and members of senior management are required to review the existing conflict-of-interest policy and complete a questionnaire. The completed questionnaires are returned to the university's secretary of the board for review. Thereafter, the university's secretary of the board prepares a summary of the completed questionnaires which contains information disclosed on an individual-by-individual basis. If applicable, the secretary to the board presents this summary to the university's executive committee for its review, discussion, investigation, and implementation of any necessary mitigating behavior.”

“Saint peter's university (the "university") board of trustees has an executive compensation committee ("committee"). The committee reviews the "total compensation" of the university's president, which is intended to include both current and deferred compensation and all employee benefits, both qualified and non-qualified. The committee's review is done on a contract renewal basis with performance bonuses reviewed and approved annually. The committee ensures that the "total compensation" of the president of the university is reasonable. The committee obtains and relies upon "appropriate data as to comparability" prior to making its determination. The committee is comprised of members of the board of trustees, each of whom is independent and free from any conflicts of interest. Although there is no formal contemporaneous documentation for the executive compensation committee meetings at the committee level, this committee reports directly to the university's board of trustees wherein all discussions at the committee level are documented in written meeting minutes of the full board of trustees. Form 990, part vi, section b, line 15b: the compensation and benefits of other executives reported in core form, part vii and schedule j of this form 990 are reviewed annually by the president with assistance from the university's human resources department in conjunction with the individual's job performance during the year and is based upon other objective factors designed to ensure that reasonable and fair market value compensation is paid by the university. Other objective factors include market survey data for comparable positions and individual goals.”

“The saint peter's university ("university's") certificate of incorporation and any amendments can be obtained and reviewed through the state of new jersey department of the treasury. The university's financial statements, governing documents, and conflict of interest policy are available to the public upon request and at management's discretion.”

“Other components of net periodic pension (cost) benefit -331,277. Pension-related changes other than net periodic pension benefit (cost) 224,722. Change in fair value of split-interest agreements -73,457. Change in fair value of interest rate swap agreements 387,631. Loss on extinguishment of debt -659,805.”