Neumann University

“The members of the university consist of the congregational minister and the council of the religious congregation of the sisters of saint francis of philadelphia.”

“Sisters of saint francis reserve the power to choose the president of the university.”

“The sisters of saint francis have certain reserve power regarding decisions of the governing body.”

“The form 990 is shared with the audit committee of the board of trustees. After form 990 is reviewed by the audit committee, a final copy is sent to each member of the board of trustees before form 990 is filed. The annual federal non-profit tax return form, irs form 990, applicable to neumann university, is completed and submitted to the irs by the neumann university administration through the office of the vice president for finance and administration.”

“All officers, trustees and key employees review and sign the conflict of interest policy annually. The university president and general counsel review the signed statements and handle any conflicts of interest. Individuals with a conflict of interest must abstain from voting on the matter.”

“The president has a contract with a term of three years. The president's compensation is reviewed by a sub-committee of the executive committee of the board of trustees. The process (every three years) includes a review of peer compensation (college and university professional association (cupa) - human resources survey), the university's mission and vision, economic climate for the region, and the achievement of goals as contained in the strategic plan. When this process is completed, the president's compensation is decided and included in the annual budget, which is approved by the board of trustees. Increase in compensation is consistent for all key employees and officers of neumann university and included in the annual budget which is approved by the board of trustees. The percentage increase for university employees is a combination of economic conditions for the region and the cupa survey. This review is documented contemporaneously.”

“Access to the university's governing documents, conflict of interest policy, and financial statements will not be unreasonably withheld.”

“Contracted services: program service expenses 4,896,504. Management and general expenses 451,642. Fundraising expenses 116,729. Total expenses 5,464,875. Maintenance contracts: program service expenses 270,322. Management and general expenses 555,681. Fundraising expenses 0. Total expenses 826,003. Housekeeping contracts: program service expenses 976,516. Management and general expenses 0. Fundraising expenses 0. Total expenses 976,516. A/r collection expense: program service expenses 0. Management and general expenses 808,159. Fundraising expenses 0. Total expenses 808,159.”

“Loss on refunding of debt -2,501,973.”