Walsh University Inc

“Starting in 2010 (for the tax year ending june 30, 2009), each year a draft of the form 990 will be presented to the finance and audit committee for discussion and approval at the february meeting. Upon approval, the finance and audit committee will recommend approval of the form 990 by the full board. The approved copy of the form 990 will be made available to all board members through electronic mail. Schedule b will be redacted in the emailed version with a hard copy made available to the board at the finance office.”

“Each year, the president's office sends out "confidential disclosure statements" to all members of the board of directors and the university's officers. By completing and signing the statements each member or officer is certifying that they have carefully read the walsh university board of directors conflict of interest policy; that they will abide by the letter and the spirit of the policy and that they will make all disclosures required under the terms of the policy. The completed and signed statements are sent to the secretary of the board of directors. The secretary and the chair of the board review the statements and make a determination as to the likelihood of any actual or potential conflicts of interests.”

“In the spring of 2007, the current compensation committee was formed to amend the president's contract. The committee consists of the chairman of the board of directors, the vice-chairman of the board of directors, the finance and audit committee chairman, and the vp of finance and business affairs/cfo. Additional input came from the director of human resources. The committee established the president's contract amendment no. 1, effective july 1, 2007, which defines additional benefits. The compensation committee used the following information and services to establish the amendment; the naicu presidents network salary survey, the cupa-hr administrative compensation survey, consulting and legal services. Each year the chairman and vice-chairman of the board approve the president's bonus. The committee would only convene if the president was being awarded a higher percentage of increase than the rest of the faculty and staff of the university. Each year all contract adjustments and bonus allocations are approved by the board of directors at the may board meeting through the approval of the next year's operating budget.”

“Walsh university does not make governing documents, conflict of interest policy and financial statement available to the general public. However, the university will provide these documents to the general public upon request.”

“Gain/loss on derivatives 55,577. Net income from kentucky derby & fashion show fundraising events -3,760.”