Franklin University

“Upon completion of the Form 990 and all supporting schedules (the "return") by the Director of Accounting, the return was first reviewed by the Chief Financial Officer and the University President, with consultation of tax experts where considered necessary. The return was then provided to the Chairman and Vice Chairman of the Board of Trustees and the Chair of the Finance Committee for their review. Questions from this review were addressed as appropriate with any necessary changes made to the 990.”

“Each year a copy of the University's Employee Ethics (Conflict of Interest) Policy is provided to each Trustee, the President and other officers of the University, along with a questionnaire related to the policy. Responses to the questionnaire, which are summarized for review by the President of the University, will identify any potential conflicts of interest. Should business come before the Board or Committee thereof that presents a potential conflict, the affected Board member would be asked to abstain from any Board action on that business.”

“A compensation review, as prepared by an independent compensation consulting firm (the "consultants"), was conducted in fiscal year 2016-17 on the President of the University. A thorough examination of external documented pay data (published surveys and 990 filings) for comparable positions at peer institutions (as mutually agreed upon by Franklin University and the consultants) was conducted. Compensation levels were reviewed for market competitiveness and reasonableness and were compared for all components of pay including cash compensation, benefits and perquisites. In preparation for such reviews, the consultants interviewed the President and a number of members of the Board of Trustees to gain perspective on the University's work environment mission, pay philosophies and pay program effectiveness as well as the President's duties. The results included individual market reports as well as an aggregate perspective. The Compensation Committee of the Board of Trustees approved the resulting reviews and compensation levels of the president which was ultimately approved in July of 2017 by the full board. Additionally the compensation committee implemented new policy around the review of all changes to executive compensation, including COLA adjustment, incentive payments and any increases to pay or benefits prior to such changes taking place. These policies covered all senior employees (earning over $100,000), including individuals not reporting directly to the president. All such actions are reflected in the minutes of both the Compensation Committee. Any compensation changes made are relative to an independent market review.”

“Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to Internal Revenue Code (IRC) Section 6104. These documents are not available to the public at this time.”

“In academic year 2016-17, Franklin University launched three Doctorate degree programs - a new degree level for the institution. The Doctorate programs and their descriptions are as follows: Doctorate of Business Administration (DBA) - The Franklin University's Doctor of Business Administration (DBA) has been designed to meet the evolving changes in business organizations and in business education. The program reinforces the core technical aspects of quality research, but also provides graduate students with the abilities employers request most in graduates such as communication and technology skills. Employers need competent professionals who can research and communicate complex issues, as well as navigate organization-wide issues. Goals of the DBA program:1. Provide a quality, comprehensive, and relevant curriculum 2. Build a community among students, faculty, alumni and professionals 3. Assist students in their transition from academic studies to a professional career 4. Develop strategic alliances with professional, corporate, governmental, and educational organizations. Doctorate of Healthcare Administration (DHA) - Franklin University's Doctor of Healthcare Administration (DHA) program has been designed to meet the evolving changes in the healthcare industry. The program reinforces the core technical aspects of quality research, but also provides graduate students with the abilities employers request most in graduates such as communication and technology skills. Employers need competent professionals who can research and communicate complex issues, as well as navigate organization-wide issues. The objectives of the Franklin University DHA program are: 1. Advance healthcare leadership domestically and globally 2. Provide a quality, professionally tailored, comprehensive, and practice-oriented curriculum 3. Build a community among students, faculty, alumni and professionals 4. Create a transformational environment for students to achieve their personal and professional goals 5. Integrate academic, professional and community goals and well-being 6. Develop strategic alliances with professional, corporate, governmental, and educational organizations. Doctorate of Professional Studies in Instructional Design Leadership (DPS IDL) - Franklin University's Doctor of Professional Studies Program - Instructional Design Leadership (DPS) is designed to meet the evolving changes in the training and instructional design industry. The program reinforces the core technical aspects of quality research, but also provides graduates with the abilities employers request most such as leadership, communication, and technology skills. Franklin's DPS program provides students with relevant, high-quality curriculum that is convenient and affordable. This program will prepare exemplary domestic and international leaders in instructional design and training by establishing a student-centered, professionally focused, inquiry-driven, and globally significant environment that places high value on diverse cultures, experiences, and perspectives.”

“Cumulative rounding to the nearest whole dollar amount for all amounts presented as tied to the audit financial statements.”