Eastern University

“The Executive Committee is composed of officers of the Board; the Chairpersons of Standing Committees of the Board; the President of the University, and such other Board members, not to exceed two in number, as shall be appointed by the Chairperson of the Board. Subject to the provisions of the University's Charter and Bylaws, the Executive Committee exercises all powers of the Board of Trustees in the interim between meetings of the Board.”

“The Form 990 is prepared by an independent CPA firm. Prior to filing the Form 990, the return is reviewed in detail by the VP for Finance & Operations, Director of Accounting & Finance, Treasurer (Chair of the Board Finance & Operations Committee), and the Chair of the Audit Committee. The Form 990 is distributed in electronic form to the entire board of Trustees prior to filing.”

“The conflict of interest policy is included in the employee handbook of the University, and it is monitored and enforced by departmental and/or divisional managers. Officers, trustees, and key employees are annually required to disclose interests that could give rise to conflicts. Should any potential conflicts of interest be disclosed, the trustee or officer would be asked to refrain from participation in any decision with regard to matters affected by the relationship.”

“The compensation for the President is established by the Executive Compensation Committee of the Board of Trustees. The Committee reviews market data as to compensation levels for comparable positions at similar organizations, and it maintains minutes of its meetings. The most recent analysis was completed in February 2022 and included a review of a compensation survey completed by the CCCU, as well as an internal review of compensation reported by peer and aspirant institutions on their Form 990.”

“The President determines compensation for all other officers using comparability data and the deliberation and decision are documented.”

“The institution's governing documents, conflict of interest policy and financial statements are available 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 employee's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C.”

“Misc Income - Total Revenue: 656377, Related or Exempt Function Revenue: 656377, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“(Expenses $ 5,767,000 including grants of $ 0)(Revenue $ 2,477) Academic Support - Funds expended to provide support services for the core, instructional mission of the University including operation of libraries and laboratories, instructional technologies, assessment, and academic administration.”

“Change in value of interest rate swap agreement - 69639; Change in value of beneficial interest in trusts - -58775; Change in value of annuities - -113817;”