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.”

“Rich pegher and donald jenkins are brother-in-laws.”

“The bylaws were modified january 2021. Board officer positions were changed from 'chair and one or more vice chairs, treasurer, and secretary' to 'chair and one or more vice chairs'. University officer positions were clarified as follows: -general counsel shall be appointed by the board on the recommendation of the president and shall report to the president. Upon the determination of the board, the duties of the general counsel position may be provided by a law firm or a licensed attorney who is not an employee of the university. In that case, the office of general counsel shall remain vacant. -the secretary, who may also be a vice president, shall be appointed by the board on the recommendation of the president and shall report to the president. The secretary shall record and keep minutes of all the meetings of the board in books kept for the purpose. Any university officer may also hold the position of secretary. Policy on committee membership was modified to include, 'all trustees shall have the right to attend meetings of any committee other than the executive committee.' executive committee of the board membership policy was modified to include that 'other trustees, in addition to chair, vice chair(s) & chairs of all committees, may be selected by the chair of the board.' responsibilites of committees were modified to include the following: finance and investment committee 'review and making recommendations related to, the university's insurance programs, including property, liability and other insurance policies'. Audit committee to review and make recommendations related to, the university's enterprise risk management practices and related internal controls.”

“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 5. "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 the 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 deleberates 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 board chair will report to the board, as appropriate, concerning the executive committee's deliberations as the compensation committee. "the university regularly employs the services of an independent firm to do an executive benchmarking study and implement a peer review process (similar to the process for faculty and staff) for the compensation of the president and other officers and key employees in order to help advice to compensation committee. In general the human resources department uses surveys from cupa-hr (college & university professional assoc.) for staff and 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: 593,861.”

“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.”