Mount Vernon Nazarene University

“From the Organization's Bylaws: Section 8: Duties of the Executive Committee of the Board of Trustees. In the interim of annual or special meetings of the Board of Trustees, the management of the affairs of the Corporation shall be vested in the Executive Committee. 1. The Executive Committee shall meet as often as is necessary and shall be governed by such rules as it may adopt, provided such rules and regulations are in harmony with the bylaws of the Corporation. 2. The Executive Committee shall act on whatever matters of corporation business as shall be referred and assigned to it by the Board of Trustees. 3. The Executive Committee may by resolution authorize the sale, conveyance, or mortgaging of any real property held by the Corporation, other than the main campus. 4. The Executive Committee shall approve the guidelines under which the Senior Administrators of the University are selected. The President shall confer with the Executive Committee prior to selection, reassignment, or termination of a senior administrator. 5. The Executive Committee shall keep a record of its proceedings and copies of these minutes shall be sent to each member of the Executive Committee within five days after the executive meeting. Minutes of action must also be received by the members of the Board of Trustees at its next meeting. 6. The Executive Committee may authorize and approve resolutions necessary to open and close bank, stock, bonds and other investment accounts and designate signatory authority thereon.”

“Robert J. Mahaffey and Robert S. Mahaffey - Family relationship”

“A Final Draft copy of the Form 990 and supplemental schedules was provided to all the members of the governing board for review before filing with the IRS. Comments and suggested revisions were considered and incorporated as appropriate.”

“At its annual reorganization meeting in november each board member receives a copy of the university's conflict of interest policy and is required to complete a disclosure statement to detail the existence of any conflicts of interest or affirm that none exist. These statements are reviewed and retained by the president's office. Those found to have a potential conflict, or the appearance of such, do not participate in final related business discussions or votes.”

“Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to Internal Revenue Code (IRC) Section 6104. These documents are currently available upon request to entities determined by management to have a legitimate interest.”

“Compensation paid to Trustees Daryl L. Blank, Douglas W. Boquist, and Douglas S. Wyatt was provided in exchange for services as adjunct faculty members or speaking at University events. These persons are not compensated in their position as trustees.”

“The University provides logistical and facility support for like-minded religious and educational organizations. Although this program has always existed at MVNU, the current and ongoing level of activity and resources involved in conducting this program merits separate reporting from other program services.”

“Change in Value of Split Interest Agreements - 1479; Postretirement Benefit Related Changes other than Periodic Cost - 29855;”