Walsh University Inc

“Dr. Timothy collins is a paid employee of walsh university and is therefore considered a non-independent voting member of the board.”

“A draft of the form 990 will be presented to the audit committee for discussion and approval at the february meeting. Upon approval, the audit committee will recommend approval of the form 990 to the finance committee. Once approved by the finance committee, it is presented for approval by the full board. The approved copy of the form 990 will be made available to all board members through an electronic portal. Schedule b will be redacted in the emailed version with a hard copy made available to the board in the finance office.”

“The conflict of interest policy applies to all members of the board of directors of walsh university. 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 treasurer of the board of directors. The treasurer 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. If a director reports a conflict of interest to the board, that director may express his or her views at board or committee meetings after disclosing at the time of such expression the material facts giving rise to the conflict of interest. The disinterested directors are also permitted to discuss the matter outside of the presence of the director who has a conflict of interest. The director who has a conflict of interest will not be permitted to vote on matters under consideration by the board affected by the conflict.”

“On august 5, 2019, the university hired its seventh president with the assistance of a national search firm. At the time of the search, the board of directors of the university worked with the search firm, referenced the cupa-hr administrative compensation survey and worked with legal counsel to set the initial compensation. Effective july 1, 2022, the president's contract was extended through june 30, 2027. The extension included a review of compensation by the board of directors and legal counsel with assistance from the university's vice president of finance and reference to the cupa hr survey. Annual adjustments may be determined at the sole discretion of the board, subject to the president's performance, as assessed by performance reviews conducted by the board or its authorized designee(s), and the financial position of the university. The president sets compensation amounts for the university's vice-presidents based on the university's compensation management program. The compensation management program takes into account job factors including facilitating student success, knowledge and skill, impact and responsibility, interaction with others, and working context. The president works with the director of human resources to reference the cupa-hr administrative compensation survey to determine if salary levels are appropriate. The board of directors approves all contracts through the budgeting process.”

“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 on change in fair value of interest rate swap: $157,014”