Ursuline College

“The members of the College are the President of the Ursuline Sisters of Cleveland and those designated by the leadership team of the Ursuline Sisters of Cleveland.”

“The members of the College have the power to appoint all Board Members.”

“The members of the College have approval rights over certain major decisions of the Board including change in mission, election of trustees, amendments to Articles of Incorporation or Regulations, sale of assets out of the ordinary course of business, sale of substantially all assets of the corporation, and the merger or dissolution of the corporation.”

“After preparation of Form 990 by the independent public accountants, the Finance Committee reviews the return. After the Committee's review, the Form 990 is provided to all Board members prior to being filed.”

“The College reviews its conflict policy with the Board annually. On an on-going basis, the Committees of the Board inquire about potential conflicts based upon general knowledge of business or personal relationships among fellow Board members. The College's Finance Department also assists with reviewing transactions for which conflicts may exist. When a conflict arises, the individual with the conflict is not permitted to vote or participate in the discussion of the proposed transaction. The decision about the transaction is made by persons who are independent of the person with the conflict of interest.”

“The Board's Finance Committee reviews the compensation provided to the President and other compensated officers annually. The Committee utilizes camparative data, and this review was last performed in 2014. The members of the Finance Committee are independent of the employees for whom compensation decisions are being made.”

“The College does not make its financial statements, conflict of interest policy or governing documents available to the general public.”

“The college received a donation during this fiscal year for which the donor wanted to remain anonymous. In keeping with the donor's wishes, the college provided a copy of form 990 to the entire board with "anonymous" listed on schedule b instead of the actual donor's name and address. Because the instructions to form 990 and schedule b do not permit the listing of anonymous donors, schedule b was changed to include the donor's name and address before form 990 was filed. Because the board received a copy of form 990 in which the donor's name was omitted, we are not permitted to answer the question in part vi, line 11a "yes". It should be noted, however, that the board received a copy of form 990 which included all other information (even the other donors listed on schedule b) except for the listing of the anonymous donor's name.”