Notre Dame College

“Member of the corporation - the member of the corporation is the snd national ministry corporation. See the explanation for question 7b for the powers reserved to the member. All other powers and authority for the conduct and management of the affairs of the college are delegated and transferred to the board of trustees.”

“Powers reserved by the members - the member of the corporation is the snd national ministry corporation. Approval of the member, as recently updated in the college's constitution, is required for certain matters including the accountability for the catholicity of the college, establishing the philosophy and mission of the college, amending the college's organizing documents including its constitution, approving the selection of candidates to be interviewed for the president of the college, and initiating the liquidation, dissolution or merger of the college.”

“Form 990 review - data for form 990 is internally prepared under the vice president of finance and cfo with review by the president of the college. This data is reviewed by the outside tax professional from the audit firm of the college, and form 990 is prepared. Form 990 is e-mailed to the audit committee of the board to complete a review. This review typically takes place in may.”

“Distribution of form 990 to the board - the board of trustees receives a copy of form 990 before it is filed, but donor names and addresses are redacted from schedule b. The college believes that donor information is confidential, and some donors request that their gifts remain anonymous. As such, we are required to answer the question on line 11a "no" even though the board receives a copy of form 990 with information redacted from schedule b.”

“Monitoring and enforcement of conflict policy - the conflict of interest policy covers the trustees, officers, and other key employees. The trustees, officers, and key employees complete a statement once a year to disclose any potential conflicts of interest. Any potential conflicts of interest are reviewed by the executive committee of the board or the president of the college. The college president or board shall determine whether a conflict of interest exists and, if so, authorize or reject the transaction or take any other action deemed necessary to address the conflict and protect notre dame college's best interests. An individual with a conflict of interest is prohibited from voting on any matter that deals with the conflict and from participating in any decisions that relate to the conflict of interest.”

“Compensation review and approval - the compensation of the president is determined by the compensation committee of the board of trustees. The committee uses comparability data in establishing compensation and benefits. The committee members are independent of the president. As a small college with limited resources, the compensation level of other officers does not rise to a level to necessitate comparability data.”

“Availability of documents - the college does not make its financial statements, conflict policy or organizing documents available to the general public.”

“Change in fair value of interest rate swap 1,765,270.”