Depauw University

“The executive committee shall consist of the chair of the board serving as chair, the vice chairs of the board, the methodist bishop, the immediate past chair of the board, the secretary of the board, and four additional voting members of the board of trustees appointed to the committee by the chair of the board. The executive committee shall have authority to act between regular meetings of the board on all matters of governance and management requiring attention of the board. The executive committee shall meet on agreed dates between the regular meetings of the board of trustees or upon not less than 48 hours advance notice (which may be waived by unanimous consent), upon call of the chair, of the president, or of two members of the committee. A summary of all action of the executive committee shall be distributed to all trustees as soon as possible after each meeting of the committee.”

“Newton crenshaw and r. David hoover - business relationship”

“The form 990 and related schedules undergo a thorough review by the vice president for finance and administration and the audit and risk management committee. The form and all schedules, except for schedule b, is then provided to all members of the board of trustees. The entire board of trustees approves the form 990 prior to submission to the irs.”

“The university's conflict of interest policy covers all employees and board trustees. All board trustees, key administrative faculty and staff (including officers), and grant administrators are required to complete an annual conflict of interest questionnaire disclosure. All other employees are required to disclose any potential conflicts of interest as they may arise. The vice president of academic affairs and the vice president for finance and administration collect the annual conflict of interest disclosure forms and conduct an initial review of each conflict of interest disclosure to determine if a potential conflict appears to exist, or if a conflict of interest in fact exists. Conflict of interest responses for the vice president of finance and administration and the chair of the board of trustees are submitted to the chair of the audit and risk management committee for review. In addition, a summary of all conflicts of interest is presented annually to the chair of the audit and risk management committee. If necessary, the vice president for finance and administration works with the chair of the audit committee and/or the chair of the board of trustees to determine the necessary action to be taken for any actual conflicts of interest determined to exist, such as requiring the individual to recuse him or herself from voting on the conflicting issue. In addition to reviewing the conflict of interest submissions, the finance department annually reviews a listing of vendors paid to identify any potential conflicts of interest.”

“University bylaws establish a subcommittee of the executive committee of the board of trustees to be designated as the executive compensation committee. This committee annually determines the compensation to be paid to the top management official and other executive officers of the university. Compensation review and approval takes into consideration comparable market data, as well as individual and organizational performance. Market data includes compensation and benefit information from member institutions of the great lakes colleges association (glca) and verifiable compensation and benefit information obtained from other selected peer liberal arts colleges. This review/approval process is documented in the committee meeting minutes, and was last performed in june 2014.”

“See narrative for form 990, part vi, section b, line 15a.”

“Governing documents, conflict of interest policy, and financial statements are all available to the public upon request.”

“Loss on interest rate swap - -96686; other changes in accumulated postretirement benefit obligations - 1740953; change in value of split-interest agreements - 2779530; allowance for uncollectible contributions - 91000;”