Salus University

“The executive committee shall be comprised of the chairperson of the board of trustees who shall also be the chair of the committee, the president of the university, and the chairpersons of each standing committee of the board who shall be appointed for a term of one year by the chairperson of the board. The primary responsibility of the executive committee is to strengthen the board's performance by helping it function efficiently and effectively. Its broad powers shall be used only as necessary and appropriate on routine business or emergency matters that cannot or should not be delayed until the board's next regularly scheduled meeting or until a special meeting of the board should be called as specified in the bylaws. The committee shall have all powers of the board of trustees on all matters except for the following, which shall be reserved for the board: presidential selection and termination, president's compensation, trustee and board officer selection, charter and bylaw amendment, changing the university's mission, incurring corporate indebtedness, approval of annual budget and conferral of degrees. The executive committee meets in person or via conference for monthly updates.”

“The form 990 is prepared by an independent accounting firm and then a copy of the form 990 is made available to the audit committee of salus university on a secure network. Each committee member is provided the opportunity to comment on the information contained in the form 990 prior to filing. The full board is provided the opportunity to review the form 990 as it will be filed prior to it being filed.”

“Each officer, director, trustee and key employee of the university is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the university. The university monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are reviewed by counsel and presented to the audit and compliance committee for determination if an actual conflict exists.”

“The president is the organization's top management official. The president's compensation is determined by the executive committee of the board. In determining compensation, the board relies upon comparability data of institutions similarly situated to salus university. The deliberations to determine the president's compensation and the final determination itself are documented in the board committee's minutes. This review process last occurred in 2018. Compensation paid to other officers or key employees of the organization is determined by the president of the university in consultation with the director of human resources. When necessary, they will utilize independent comparability data to benchmark a reasonable salary for these individuals. This review process last occurred in 2018.”

“The organization does not make its governing documents, conflict interest policy or financial statements available to the public.”

“Post retirement benefit obligation actuarial valuation adjustment -577,004.”