Emmaus Bible College

“The executive committee shall consist of not less than seven trustees, a majority of whom shall constitute a quorum, and including the chairman of the board, vice-chairman of the board, the president, secretary, and treasurer. The members of this committee shall be appointed by the board of trustees at its annual meeting. The chairman of the board shall also be the chairman of the executive committee and in his absence, the vice-chairman shall sit in his place. The executive committee shall and may exercise all of the authority of the board of trustees during the interim between regular meetings of the board provided that such committee shall not have the authority of the board of trustees in reference to (i) amending, altering or repealing their bylaws; (ii) electing, appointing or removing any trustee; (iii) amending the charter; (iv) adopting a plan of merger or consolidation with another corporation; (v) authorizing the sale, lease, exchange or mortgage of all or substantially all of the property and assets of the corporation; (vi) authorizing the voluntary dissolution of the corporation.”

“Form 990 is prepared by an independent tax preparer and reviewed in detail by the organization's top management. The reviewed form 990 is then provided to the board of directors for review and comment. The form 990 is filed after all board comments are addressed.”

“All trustees and officers annually review the conflict of interest policy and sign that they are in compliance. The ethics committee reviews all the trustee and officer conflict of interest forms. Non-board conflict of interest issues are actively identified and addressed by the cabinet. Should any potential conflicts of interest be disclosed, the trustee or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“Line 15a - the independent board members review salary and benefit information for the president and compare with similarly qualified persons in comparable colleges to set salary and benefits for the upcoming fiscal year. The contemporaneous substantiation of the deliberation and decision process is documented in the board minutes. Line 15b - the president, along with the independent board members, review salary and benefit information for the vice presidents and compare with similarly qualified persons in comparable colleges to finalize salary and benefits for the upcoming fiscal year. The contemporaneous substantiation of the deliberation and decision process is documented in the board minutes.”

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

“Change in value of beneficial interest in trusts -63,398. Change in value of annuities and trusts -5,711.”