Cedar Crest College

“The executive committee shall be comprised of the following: the chairperson of the board, vice chairperson of the board, president of the college, president of the alumnae association, and chairs of the following committees: academic affairs, advancement, audit, enrollment and student affairs, and finance and endowment. In addition, the chairperson of the board may appoint up to two ad hoc members to serve on the executive committee. The chairperson may invite other board members to attend executive committee meetings as needed when relevant expertise is required. The chairperson of the board shall be the chair of the executive committee. The executive committee shall possess and exercise all executive and supervisory powers of the board of trustees in the intervals between meetings of the board, subject, however, to the regulations, instructions and authorizations as may from time to time be made and given by the board. Meetings may be convened to set the agenda for the coming academic year or to advise the president and board chair. Special meetings may be called by the chairperson of the board or upon the request of any two members of the executive committee. At least three (3) days notice of the convening of a special meeting of the executive committee shall be given by the secretary, except in cases of extreme emergency. Minutes of the proceedings of the executive committee and a report of its actions shall be distributed by the secretary to trustee members in advance of the next convened meeting of the board and according to established procedures.”

“The director of finance and accounting coordinates the preparation of the form 990 by the college's accounting firm. The form in its entirety is reviewed by the chief financial officer/chief operating officer/treasurer. A draft of the full form 990 is provided to members of the audit committee of the board of trustees and reviewed by the audit committee at a meeting with baker tilly, the independent auditors of the college. Following that review, the full disclosure copy of form 990 is provided to each trustee of the college prior to filing with the irs.”

“Members of the board of trustees and members of committees thereof, including officers and key employees, are required to sign a conflict of interest statement annually. The conflict of interest statements are maintained and monitored within the office of the president at the college. In addition, the cabinet must sign the college's staff handbook annually that deals with conflict of interest as a matter of policy. The signed document is stored within the hr department. Potential conflicts identified are presented to the chair of the board of trustees who consults with the president and the chief financial officer at the college who reviews the information provided. Additional information is requested when necessary. All new trustees are evaluated by the full board of trustees, the president and the cfo for potential conflicts. Any identified conflicts are addressed immediately. Board members will abstain from voting on such matters in which they have identified a conflict. The policy expressly states that family and business relationships may be sources of potential conflicts.”

“The compensation for the president was set in 2017 after an independent consultant, agb-ces, conducted a compensation study, including a review of peer institutions. The report was utilized by the trustee compensation committee in setting the salary for the president. In 2018, the college appointed dr. Elizabeth meade as president with a 5 year contract. Compensation of the sr. Officers/cabinet is calculated by benchmarking the salaries of those similar positions within our group of peers and current pay scales. The college uses several compensation tools to appropriately benchmark these salaries, such as cupa, payscale, and salaries.com. The salary comparison is performed by the human resources office and provided to the president. The president reviews the information and the compensation is determined. The compensation policy is documented in the board and committee minutes.”

“Financial statements are made available to the public through the following vehicles: dun & bradstreet; bloomberg municipal repository and ft interactive data attn: nrmsir. The governing documents and conflict of interest policy are made available to the public upon request.”

“Change in valuation of split-interest agreements -77,990. Recovery of cost 242,375.”