Point Park University

“The executive committee shall exercise all powers of the board of trustees when the board is not in session except that it may not: (i) alienate or encumber the real estate or endowments of the university, (ii) enter into financial arrangements or commitments which would have a major effect on the university, (iii) select the president of the university, (iv) elect members or officers of the board of trustees, or (v) commit the university to payments in excess of available revenues, unless specifically authorized to do so by the board.”

“J.k. Mcmahon and c. Shapira have a business relationship.”

“The bylaws were modified july, 2014. The executive officers of the university administration were revised effective 7/24/14 include the following: president, the chief academic officer, the chief financial officer, the general counsel, and such other officers as the president may designate from time to time. Quorum. Fifty (50) percent- a majority of the board shall constitute a quorum for the transaction of ordinary business at all regular and special meetings of the board. A majority of each committee shall constitute a quorum for the transcation of ordinary business at all regular and special meetings of the committee of the board. Any meeting may be adjourned and its business continued to an appointed day by the vote of the majority of the board members present even though less than a quorum.”

“The return is prepared by the university's business office. It is reviewed by an independent accounting firm. The audit committee of the board of directors conducts a review on behalf of the board. The final copy is sent to all voting members of the board before it is filed.”

“Contained within the university's written code of conduct is the conflict of interest policy, which is distributed annually to the board of trustees, as well as to all full-time and part-time employees and is available on the university's website. The conflict of interest statement that is signed by directors and officers states, "i acknowledge an ongoing responsibility to disclose potential conflicts of interest as they may arise." board members complete a 'conflict of interest statement' annually. The policy makes clear that not all conflicting interests are prohibited. Each reported conflict is evaluated to make certain that directors and officers primary obligation to the university is not compromised.”

“The board is responsible for hiring the president, and the executive committee of the board acts as the compensation committee for determining the president's annual goals, objectives, performance and compensation. The rules are set forth in the university's bylaws, article vi, section 2, paragraph 4. "the executive committee shall also act as the compensation committee for purposes of approving the president's annual goals and objectives, evaluating the president's annual performance, and determining the president's annual compensation. The executive committee in this role shall adhere to all applicable standards promulgated by the irs with respect to compensation payable by exempt organizations. The president shall not be present while the executive committee deliberates on the compensation, goals, and objective, or performance of the president. The executive committee shall also provide advice to the president regarding the annual goals and objectives, performance, and compensation of the president's executive officers. The chair of the board will report to the board, as appropriate, concerning the executive committee's deliberations as the compensation committee." from time to time, the university employs the services of an independent firm to do an executive benchmarking study and implement a peer review process for the compensation of the president and other officers and key employees in order to help advise the compensation committee. In general the human resources department uses surveys from cupa-hr [college & university professional assoc.] for staff and aaup [american assoc. Of university professors] for faculty to benchmark compensation.”

“The conflict of interest policy is available online as a component of the university's code of conduct. The governing documents are available upon request. The financial statements are not available to the public.”

“Change in value of interest rate swap: -859,538.”

“The organization's financial statements are audited by an independent accounting firm. In addition, the organization has a committee that assumes the responsibility for oversight of the audit of its financial statements and its selection of the independent accountant. This process has not changed from the prior year.”

“Full time staff 330 full time faculty 147 part time faculty 378 part time staff 190 part time students 737”