Bucknell University

“The following individuals have business relationships with each other based on their positions within the University's related organizations. Bucknell University Bucknell Real Estate Bison VenturesDavid Surgala VP for Finance President/ President/ and Administration Board Member Board MemberDennis Swank Associate VP for Vice President/ Vice President/ Finance/ Assistant Board Member Board Member SecretaryMichael Cover Treasurer and Controller/ Secretary/ Secretary/ Assistant Secretary Board Member Board MemberEdward Loftus Employee Board Member”

“An external review of the Form 990 is performed by the outside tax preparer. The final Form 990 is provided to the University's Audit, Compliance, and Risk Management Committee for review. The Form 990 is made available electronically to the trustees prior to filing.”

“All trustees are required to complete and submit an annual conflict of interest statement to the University's General Counsel. All Officers and Key Employees are required to complete and submit an annual conflict of interest statement to the University's Vice President for Finance and Administration. All statements are reviewed by General Counsel and/or the VP for Finance and Administration to determine if the possible conflicts of interest noted are actual conflicts and what action should be taken including prohibiting an individual from participating in any deliberations, decisions or transactions related to the conflict, and whether disclosures regarding the conflict should be made in financial statements or other documents.”

“The president's compensation was reviewed and approved by the Executive Resource Committee of the Board of Trustees. The Committee used various sources of data, including but not limited to, financial and legal consultants, other organizations' Form 990s and compensation surveys. There is a written employment contract in place which is signed by the president and the Chairperson of the Board of Trustees.Part VI, 15bIn addition, compensation of certain officers and key employees (those employees reporting directly to the president) are reviewed by the Executive Resource Committee and approved by the president of the university. The president and Committee used various sources of data, including but not limited to, other organizations' Form 990s and compensation surveys.”

“The president's compensation was reviewed and approved by the Executive Resource Committee of the Board of Trustees. The Committee used various sources of data, including but not limited to, an independent compensation consultant, other organizations' Form 990s and compensation surveys. There is a written employment contract in place which is signed by the president and the Chairperson of the Board of Trustees.In addition, compensation of certain officers and key employees (employees reporting directly to the president) are reviewed by the Executive Resource Committee and approved by the president of the university. The president and Committee used various sources of data, including but not limited to, an independent compensation consultant, other organizations' Form 990s and compensation surveys.”

“The University has audited financial statements available on the University's Finance Office website.”

“OTHER PROGRAM SERVICES 4: Academic Support - the expenses of activities and services that directly support instruction”

“Change in pledge receivable = $13850454”

“Gain on termination of lease with related party = $839413”

“Postretiree healthcare costs other than periodic expense = -$4147853”

“In May 2009, the University entered into various agreements with its wholly-owned for-profit subsidiary, Bison Ventures, Inc. and community development entities owned or controlled by a bank and a real estate corporation. The agreements provided (primarily through Bucknell University and the new markets tax credit program) financing to construct a bookstore in Lewisburg, Pennsylvania. Bison Ventures, Inc., through an arrangement with Bucknell University, leases the bookstore. Because of the interdependent loan agreements and lease agreements, the University has accounted for the financing arrangement as a capital lease.In June 2016 Bucknell exercised its purchase option thereby discharging the capital lease and other obligations with the community development entities. See Schedule O "Other Changes in Net Assets or Fund Balances".See also Schedule R, Part IV, for additional information regarding transactions with Bison Ventures, Inc.”