Saint Xavier University

“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 questionnaires 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 a contract basis. The compensation package is subject to the full executive committee's review and approval and 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. 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.”

“Supplies: program service expenses 645,970. Management and general expenses 49,270. Fundraising expenses 2,970. Total expenses 698,210. Telephone: program service expenses 276,840. Management and general expenses 88,083. Fundraising expenses 8,233. Total expenses 373,156. Special events: program service expenses 326,871. Management and general expenses 21,881. Fundraising expenses 1,893. Total expenses 350,645. Dues: program service expenses 187,640. Management and general expenses 134,689. Fundraising expenses 12,292. Total expenses 334,621. Book subscriptions: program service expenses 70,147. Management and general expenses 953. Fundraising expenses 17,026. Total expenses 88,126. Miscellaneous: program service expenses 23,858. Management and general expenses -162,831. Fundraising expenses 97,985. Total expenses -40,988.”

“Asset impairment loss -134,673.”

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