Saint Xavier University

“Vp of business and finance resigned in may 2014. A cfo consultant was engaged to perform those duties and was hired in a permanent role in november 2014.”

“Prior to filing, copies of the completed draft form 990 (including required schedules) will be distributed to the audit committee in either electronic or paper form for review and approval. Any questions or concerns will be noted and addressed, and management staff will ensure that changes are incorporated into the form 990 as appropriate. Copies of the draft form 990 will then be distributed to the board of trustees in either electronic or paper form for review and approval. Board members will be provided with at least five business days to review the form. The form 990 will be filed once a motion to approve has been passed by the board of trustees.”

“The organization's conflict of interest policy covers all officers, directors, trustees, and key employees. These individuals are required to complete a conflict of interest questionnaire to disclose any potential or actual conflicts of interest they may have with the organization. Conflict of interest questionnaires are completed on an annual basis by all interested persons. Completed conflict of interest questionairres will be reviewed by the organization's compliance officer (or chairman). If it is determined an actual conflict of interest exists, the individual with a conflict will be excused from any discussion or vote on the matter for which they have a conflict.”

“The university's independent executive committee of the board of trustees utilizes comparability data from compensation surveys and studies to determine, evaluate and adjust the compensation of the organization's top management official, the president, on an annual basis. The final compensation package is subject to the full executive committee's review and approval and is documented in a written employee contract. Deliberations and decisions regarding the compensation package are documented in the minutes of the meeting. Compensation for other officers (form 990, part vi, section b, line 15b): the president, in consultation with the office of human resources, sets compensation following a review of (a) comparable compensation data from similiarly situated colleges and universities; (b) in relation to the nature and scope of the duties assigned. This is subsequently approved by the board of trustees on an annual basis. The final compensation packages of the university's other officers is documented in a written employment contract. Deliberations and decisions regarding the compensation packages are documented in the minutes of the board meeting. Faculty compensation is based on collective bargaining agreement which is renewed every three years.”

“Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to internal revenue code section 6104. These documents are not available to the public at this time.”

“Asset impairment loss -9,265,637.”

“The board of trustees assumes responsibility for oversight of the audit and selection of the independent auditor. This policy has not changed from prior years.”