Malone University

“Greg miller is a paid employee of the university, and, as such, is considered a non-independent board member. Lamar wyse and larry smerglia are considered non-independent board members due to transactions reported on schedule l.”

“A draft form 990 was reviewed in detail with audit and finance committee with approval. The audit and finance committee recommended approval of the form 990 by the full board of trustees. The approved copy of form 990 was made available to all board members through electronic mail. Schedule b was redacted in the emailed version with a hard copy made available to the board in the finance office.”

“The executive committee of the board reviews all conflict of interest statements of family and business disclosure letters returned to malone where a conflict is disclosed. The annual conflict of disclosure statements are submitted to and reviewed by the executive committee. In addition, the executive staff is responsible for monitoring any possible conflict transaction that arises to ensure that all transactions represent arm's length, fair market value for the benefit of the organization.”

“Compensation studies for the organization's president are researched and prepared by the hr director. That information is submitted to the presidential review and compensation committee (prcc) at the october board meeting for their review and approval. The committee is responsible for applying terms and processes of the executive compensation and intermediate sanctions as outlined above to follow the rebuttal presumption of reasonableness test.”

“The process for determining compensation for the organization's officers, and key employees is prepared by the hr director and the information is submitted to the president for his/her review and approval. The hr director uses cupa reports to determine the appropriate salaries at the vice-presidential and administrator level. The provost reviews the salaries of program chairs and key faculty members.”

“Malone university makes its governing documents, conflict of interest policy, and financial statements available to the public upon request and applicable document copies are sent to the requester free of charge.”

“Miscellaneous - Total Revenue: 559474, Related or Exempt Function Revenue: 559474, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; TRANSCRIPT FEES - Total Revenue: 12694, Related or Exempt Function Revenue: 12694, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Change in value of beneficial interests - 92259;”