University of Saint Katherine

“The organization is filing this Form 990 for a short period beginning 1/1/2021 and ending 6/30/2021. The above referenced parts and lines require information based on tax forms filed for the calendar year that falls within the tax year. Since the short period did not include a calendar year ended within its tax year, we reported -0- in accordance with the instructions.”

“The organization has an Executive Committee made up of the Board Chair, Board Secretary, and one additional Board member. The Executive Committee has the broad authority to act on behalf of the full Board.”

“Angelo Georggin (trustee) and Despina Georggin (trustee) have a family relationship. Daniel Braun (Board Chair) and Tom Braun (trustee) have a family relationship.”

“The Form 990 is prepared by an independent CPA firm and is reviewed in detail by the CFO and President. A copy of the Form 990 is provided to the organization's governing body before it is filed with the Internal Revenue Service.”

“Board members and officers sign an annual conflict of interest policy. The signed statements are reviewed by the President as well as the Audit and Finance Committee chair. If a confict arises, then it is addressed by the board and actions are executed accordingly. Any board member or officer with a conflict would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“The compensation arrangements of the President and CFO are approved in advance by an authorized body of the organization composed entirely of individuals who do not have a conflict of interest with respect to the compensation arrangement. The authorized body obtained and relied upon appropriate comparability data prior to making its determination. The authorized body adequately documented the basis for its determination concurrently with making that determination, including the voting record.”

“The governing documents, conflict of interest policy, and financial statements are available upon request.”

“The prior period adjustment reported on Form 990, Part XI, Line 8 is to recognize the Employee Retention Credit related to activity for the period ended December 31, 2020 that was applied for and received during the six-month period ended June 30, 2021.”