Denison University

“Form 990 review - form 990 was presented to the finance & audit committee of the board of trustees for their review at their april, 2023 meeting.”

“Monitoring and enforcement of conflict policy - responses to the conflict of interest questionnaire are reviewed annually by the committee on trustee affairs. Results of the review are reported to the full board. Procedurally, the human resource office and/or the president's office annually distributes the conflict of interest questionnaires for completion by trustees, officers, administrative staff and teaching faculty acting in administrative capacities. The completed forms are reviewed when returned. To the extent that those completed by board members or senior administrators reveal a possible conflict of interest, they are forwarded to the committee for further consideration. Additionally, if there is reasonable cause to believe that anyone has failed to disclose actual or possible conflicts of interest, the committee shall be informed and pursue these concerns. The president or her/his designee reviews the completed questionnaires by all other members of the administration and members of the teaching faculty acting in an administrative capacity and properly carry out the provisions of the policy on all matters of a conflict of interest. The president or her/his designee will provide a written report to the chair of the board on all matters of conflict of interest which he or she has addressed administratively. Denison's policy details specific procedures for handling potential conflicts of interest. Family and business relationships are disclosed in the form 990.”

“Compensation review and approval - the committee on trustee affairs has been delegated the authority and responsibility by the board to fix the terms and conditions of the president's appointment, monitor the performance of the president, and make appropriate decisions involving the compensation and financial benefits of the president. The committee on trustee affairs also has the delegated authority and responsibility to determine, upon the recommendation of the president, the compensation and any benefits of certain other officers and employees. Annually, the committee undertakes procedures specified in the university's executive compensation policy to establish a rebuttable presumption under irc section 4958 that the president's compensation is reasonable. These procedures include assuring that no committee member with a conflict of interest with respect to the compensation arrangement participates in the discussion and vote on the compensation arrangement; using comparability data for similarly situated organizations which are based on compensation surveys compiled by independent organizations; documenting the decision about compensation, the members of the committee who were present during the discussion, and the comparability data obtained and relied upon by the committee; and preparing minutes of the committee contemporaneously. Additionally, the committee reviews the president's assessment and recommendations regarding the performance, compensation, and leadership development of certain members of the senior executive staff including certain vice presidents, the provost, and the chief investment officer. The committee approves the compensation for this group as recommended by the president and/or as determined by the committee. At its discretion, the committee may seek the services of legal counsel and/or an independent compensation consultant, hired to provide independent, objective, and neutral advice regarding the cash and non-cash elements of the president's compensation, other disqualified persons, and any others the committee identifies for review.”

“Availability of documents - denison's audited financial statements are made available to the public through our finance office website. Governing documents and conflict of interest policy are available upon request from the vice president for finance and management.”

“The college has adopted and follows a document retention and destruction policy. However, the policy has not yet been approved by the board of trustees. As such, we are required to answer "no" to the question on line 14 of part vi even though the college has implemented and follows such a policy.”

“Our purpose is to inspire and educate our students to become autonomous thinkers, discerning moral agents and active citizens of a democratic society. Through an emphasis on active learning, we engage students in the liberal arts, which fosters self-determination and demonstrates the transformative power of education. We envision our students' lives as based upon rational choice, a firm belief in human dignity and compassion unlimited by cultural, racial, sexual, religious or economic barriers, and directed toward an engagement with the central issues of our time. Our curriculum balances breadth with depth, building academic specialization upon a liberal arts foundation in the arts, the sciences, the social sciences and the humanities. Responsive to new ways of learning, we continue to develop interdisciplinary integration of the many forms of knowledge. While our students pursue specialized learning in their chosen majors, they also develop the framework for an integrated intellectual life, spiritually and morally informed. Our faculty is committed to undergraduate education. As teacher-scholar-advisors, their principal responsibility is effective teaching informed by the best scholarship. Faculty members place a priority on close interaction with students, interactive learning, and partnerships with students in original research. Our low student/faculty ratio allows for close supervision or independent research and collaborative work in small groups and classes. We seek to ensure an ever-broader range of racial, ethnic, international and socioeconomic backgrounds in a student body of about 2,400 students. We offer different kinds of financial aid to meet the different needs of our students. The focus of student life at denison is a concern for the whole person. The university provides a living-learning environment sensitive to individual needs yet grounded in a concern for community, in which the principles of human dignity and ethical integrity are paramount. Students engage in a wide range of co-curricular activities that address the multidimensional character of their intellectual and personal journey. Denison is a community in which individuals respect one another and their environment. Each member of the community possesses a full range of rights and responsibilities. Foremost among these is a commitment to treat each other and the environment with mutual respect, tolerance, and civility.”

“Two individuals have total compensation on form 990, part vii and schedule j, part ii in excess of $1,000,000, the threshold for the excise tax imposed under section 4960. However, non-vested deferred compensation amounts are included for both individuals in the totals. As specified on schedule j, part iii, mr. Weinberg's non-vested amount is $250,000, and ms. Browne's non-vested amount is $174,250. These non-vested amounts are not taken into account for section 4960 purposes, and as such, section 4960 is not applicable for either individual. The university therefore has answered no to the question in part v, line 15 about section 4960.”

“Post-retirement related charges other than net periodic post-retirement cost 6,494,767. Actuarial adjustment of split interest agreements -1,208,908.”