Westminster Theological Seminary

“The Executive Committee is comprised of the Chairman, Vice Chairman and one to three at-large trustees who shall be nominated by the Governance Committee and elected annually at the time of the election of officers. The President and whichever members of his Senior Administration he deems appropriate shall attend all meetings of the Executive Committee. All Board members may attend and participate in the meetings of the Executive Committee, but only members of the Executive Committee have the right to vote during such meetings. The Executive Committee shall have the authority to take formal action on behalf of the Board on matters that cannot reasonably wait until the next full Board meeting. The full Board may rescind or amend any action of the Executive Committee by a majority of the members present and voting.”

“Larry Puls and John Maynard - Family relationship”

“The Form 990 is prepared by an independent CPA firm. The Director of Finance reviews in detail and approves the 990. It is then sent to the Chief Operating Officer for top-level review. A draft copy of the Form 990 was provided to the Audit Committee and then a final copy was provided to every member of the organization's governing body before it was filed with the IRS.”

“Board members and officers annually sign conflict of interest policy disclosures. The signed statements disclosing any conflicts are reviewed by the Governance Committee of the Board of Trustees for determination of appropriate actions. Should any potential conflicts of interest be disclosed, the board member or officer is asked to refrain from participation in any decision with regard to matters affected by the relationship.”

“The independent members of the Board determine the President's salary. Comparability data is used, and the approval process is documented.”

“The compensation for other officers is approved by the President. Comparability data is used, and the approval process is documented.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“Compensation reported in Part VII, column D and Schedule J, Part II, column B is the amount reported on the individual's W-2, box 1 or 5 (whichever amount is greater) per the IRS instructions. In the case of minister's compensation when box 5 of the W-2 is not applicable, box 1 compensation is used. Employee deferrals to qualified retirement plans are normally captured in box 5, not box 1 of Form W-2. For reporting purposes we have included the minister's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C.”

“Other program revenue - Total Revenue: 475425, Related or Exempt Function Revenue: 475425, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“(Expenses $ 177,891 including grants of $ 0)(Revenue $ 239,800) Student Housing WTS offers limited housing for up to 17 students at our Church Road campus in Glenside: 9 male students in Machen Hall; 3 male students in SeokNam House; and 5 women students in the Church Road Gate House. In addition, WTS owns 9 condominiums at 1600 Church Road in Wyncote, Pennsylvania and can house up to 1 student of either gender plus his/her family of up to three total persons. Furnished, the condos are of particular help to international and newly married students.”

“(Expenses $ 61,439 including grants of $ 0)(Revenue $ 0) Upholding the Truth, LLC or "UTT" The purpose of UTT is to study, promote, and advance the truth and ethics of a biblically consistent worldview in all spheres of life and when appropriate, to do so with allied individuals, groups, and organizations that are committed to the same perspective. Representative projects include an annual conference devoted to the intersection of science and faith.”

“Change in value of beneficial interest in trust - 574770; Change in value of annuities - -49197; Distribution from beneficial interest in perpetual trusts - 372333;”