North Park University

“The Committee on Trustees determines the compensation for the President and recommends an amount to be approved by the full Board of Trustees. Once approved by the full Board of Trustees a recommendation goes to ECC Board for approval. During their review process, the Committee on Trustees reviews comparable compensation packages for similar positions at other colleges and universities. The Committee also employed a consultant to assist with the process.”

“The salaries of other officers are established by the President and the Human Resources Senior Director, considering the comparative salaries of equivalent positions at universities similar in size and complexity to North Park.”

“The executive committee of the Board of Trustees is composed of the Chair, Vice Chair, Secretary, Treasurer, one at large member, the President of the University, and the President of the Evangelical Church (ECC). This committee, to the extent permitted by law, and within the clearly established Board of Trustee policy or as instructed by the Board of Trustees, may exercise the authority of the Trustees between meetings of the full board.”

“The sole member of the Corporation is The Evangelical Covenant Church (ECC), an Illinois not for profit corporation.”

“No less than twelve (12) and and no more than twenty-three (23) individuals shall be elected as ECC Elected Trustees.”

“The following matters require the approval of the ECC Board, acting on behalf of the ECC, and in furtherance of the powers reserved by the ECC as the member of the University: - compensation of the President of the University and the Dean of North Park Seminary; - the University's strategic plan; - the University's mission statement; - major changes in University policy; - amendments to the University's Articles of Incorporation, and Constitution and Bylaws; - merger or dissolution of the University; - creation of University affiliates or subsidiaries; - selection of auditors; - fiscal year; - borrowing in excess of $1,500,000 or such larger dollar limit as specified by the ECC Board, other than seasonal utilization of a line of credit previously approved by the ECC Board; - disposition, buying, leasing, selling or encumbrance of real property belonging to the University with a consideration in excess of $1,500,000 or larger dollar limit as specified by the ECC Board.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.”

“The organization requires all officers and board members to annually complete and sign a conflict of interest questionnaire. HR is responsible for reviewing the signed statements for officers and the Office of the President reviews the board members' statements and ensures that interested persons are in compliance with the conflict of interest policy. Should any potential conflicts of interest be disclosed, the CFO reviews the conflict, reports to the Finance Committee and the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“The governing documents, conflict of interest policy and financial statements are available upon request.”

“Other program revenue - Total Revenue: 2395242, Related or Exempt Function Revenue: 2395242, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Present value of new irrevocable trusts, annuities and estates - 1339473; Change in value of irrevocable trusts, annuities and estates - 250435;”