Mount St. Joseph University

“Power to elect or appoint members the board of trustees of the university are elected by the members of the corporation board for sponsored ministries of the sisters of charity of cincinnati, oh.”

“Decisions reserved to members or stockholders the sisters of charity of cincinnati, ohio is the sponsoring order of the university. Certain recommendations from the board of trustees (such as the election or removal of the ceo) must be approved by the sisters of charity corporation board. Other approval powers vested in the sisters of charity leadership council include any changes to the mission, philosophical direction or purposes; establishing separate corporations; adoption repeal, or amendment of the articles of incorporation or code of regulation; acquiring capital financing and the amortization of debt; the purchase, sale, lease, or disposition of real property or other assets or the incurring of debt or other obligations that exceed the monetary limit set annually by the leadership council; appointment of external auditors; or any items in the capital or operating budget inferring a subsidy from congregational funds.”

“Process used to review the form 990 draft copies of the form 990 are presented to the audit/finance committee and/or the executive committee of the board of trustees for the review prior to filing. After discussion, modifications or changes are incorporated into the draft. This revised draft is then presented to the full board of trustees for review and discussion. Open items after this discussion will be taken back to the executive committee of the board for final approval. Once it has been approved, it will be made available to the entire board of trustees before filing.”

“Monitoring and enforcement of compliance with conflict of interest policy all officers, trustees, and employees are required to complete a conflict of interest policy statement annually. The chief compliance officer is responsible for distribution, collection, and review of all completed statements. Upon review, officer, director, and trustee statements are forwarded to the audit/finance committee chair for further review and documentation of any conflicts. A conflict is determined to exist when a person has a business relationship with the university either personally or through his or her employer. Anyone who has been determined to have a conflict shall recuse his or her self from votes relating to the conflict. Such recusal is documented in board minutes.”

“Process for determining compensation the chair of the board of trustees distributed to the independent members of the executive committee comparison salary data for the president of the university and its cabinet members. The committee reviewed and discussed the data, compared it with the actual salary amounts and unanimously agreed the salaries were reasonable and fair. This process is done annually.”

“Process for making documents available to the public the university will disclose referenced documents to the public upon request.”

“Organization's mission mount st. Joseph university (msju) is a catholic academic community grounded in the spiritual values and vision of its founders, the sisters of charity. The university educates its students through interdisciplinary liberal arts and professional curricula emphasizing values, integrity and social responsibility. Members of the university community embrace: excellence in academic endeavors; integration of life and learning; respect and concern for all persons; diversity of cultures and beliefs; service to others. Form 990, part vi, line 2 the university is aware of relationships between members of the board of trustees, their companies, and other board members and their companies but considers these relationships focused on services normal in the course of business. Trustees michael habel, timothy aug, brian doyle and kenneth ryan, have a business relationship with msju. Toby rau, trustee, has business relationships with tom schiller, trustee. Trustees steve suetholz, kenneth strecher and mary hollenback have business relationships with each other. Form 990, part vi, line 6 members or stockholders the members of the university corporation are the members of the corporation board for sponsored ministries appointed by the sisters of charity of cincinnati, ohio.”

“Other changes in net assets or fund balances loss on swaps (financial instruments) ($10,293) change in beneficial interest in trust $18,512 change in annuities payable ($1,496) total $6,723”