Ashland University

“When the board of trustees is not in session, the executive committee shall have the authority to exercise all the functions of the board of trustees. The committee may not hire or remove the president, change the by-laws of this policy and procedure manual, make changes to the mission, approve major construction projects, incur debt financing, sell or acquire major assets or elect board members. Minutes of the execuive committee shall be presented to the full board for their approval at the next board meeting.”

“The university amended their bylaws in october 2018 and february 2019 to include the revisions in the following sections: - added section 1.6 standing committees, - added section 2.3 vice president/exec dean of seminary - revised section 2.5 authority to execute documents - revised section 3.4 the faculty senate - revised section 3.6 the seminary faculty - revised section 2.7.9 ashland theological seminary committee - revised section 2.7.1 executive committee - revised the number of voting trustees to be between 21 and 33.”

“The form 990 was prepared by the controller and their staff with the assistance of an independent tax preparation firm. University management reviews the 990 for completeness and accuracy. The audit and compliance committee of the board of trustees reviews and accepts the form 990 prior to filing. The entire board of trustees are provided access to the filing copy and have an opportunity to ask questions and the adminstration will satisfactorily respond prior to filing with the internal revenue service.”

“All board members and officers sign a conflict of interest disclosure form annually. Staff in the president's office review the signed forms for completeness and disclosure of conflicts. Any member who has a conflict recuses himself or herself from the discussion and voting topics at board meetings. All interested persons, including board members, officers, key employees and highly compensated individuals also complete an annual questionnaire regarding potential conflicts which might exist. The responses to this questionare are reviewed by the office of business affairs. The employee handbook has a conflict of interest statement that covers all employees of the university. The audit and compliance committee of the board of trustees is provided a summary of any conflicts that exists.”

“The board of trustees is responsible for setting compensation for the president. The board reviewed and approved the level of compensation for the current president based on various factors, including review of presidential compensation packages at comparable institutions and review of the market of presidents with similar levels of expertise as the president. The presidential assessment committee of the board conducts on-going analysis of presidential compensation and makes adjustments based on performance and market data. The university uses peer data and internal equity considerations to set compensation for all other employees. The president sets compensation for vice presidents using the compensation study, other industry compensation compilations and comparing similarly situated institutions. This process is completed annually.”

“Governing documents, conflict of interest policy and financial statements are kept on-site and are made available upon request.”

“Change in value of split-interest agreement 73,124.”

“The organization has an audit and compliance committee that assumes responsibility for oversight of the audit and the selection of an independent accountant.”