Benedictine University

“The membership of the Executive Committee shall consist of the Chair of the Board, the Vice Chair of the Board, the immediate past Chair of the Board, the President of St. Procopius Abbey, the President of the University, the Secretary of the Board and the chairs of the regular committees of the Board. The Chair of the Board, the President of St. Procopius Abbey and the President of the University may jointly add additional members to the committee. The Executive Committee shall have and exercise all the authority of the Board of Trustees in the management of the University, as may be provided by law or by the charter of By-Laws of the University. The Executive Committee shall consider for approval those persons nominated by the President of the University for administrative and full-time faculty positions of the academic rank of instructor or higher. The Executive Committee shall approve promotions and advancement in rank of instructor or higher. The Executive Committee shall approve promotions and advancement in rank, and changes in compensation schedules and employee benefits for administrative, faculty and support staff personnel. The annual budget presented by the President must have the approval of the Executive Committee. The Executive Committee shall approve the policy and regulation of the University and the government of the faculty and student body, provided that such regulations are consistent with the constitution or laws of the United States, the state of Illinois, and the Charter and the By-Laws of the University”

“Benedictine university is a membership corporation with two classes of participants in the corporation: members and trustees. Members of the corporation are the individuals constituting the board of directors of st. Procopius abbey, a not-for-profit corporation. The benedictine monks of st. Procopius abbey founded benedictine university as st. Procopius college in 1887.”

“It requires a two-thirds affirmative vote of all members to approve: (1) any sale, mortgage or encumbrance of any real estate of the university; (2) the merger, liquidation or dissolution of the university; (3) changes or amendments of the articles of incorporation of the university and by-laws; and (4) election of trustees. (new trustees are elected by a majority of the trustees in office at any regular meeting of the full board.)”

“The interim cfo, along with other members of the business and finance department, reviewed the draft form 990, together with its outside accounting firm. The completed 990 is reviewed by the finance and audit committee of the board of trustees. A copy is provided to each member of the full board of trustees prior to filing.”

“The compliance officer annually distributes the conflicts of interest policy and disclosure questionnaire, to trustees, officers, faculty and staff. Trustees receive a copy of the conflicts of interest policy in the trustee handbook. Each is required to annually disclose any actual or potential conflicts of interest by signing and submitting the university disclosure questionnaire and updating it as pertinent new interests or situations arise. Responses to the disclosure questionnaire are reviewed and disclosed conflicts are resolved. The office of the provost, the office of business and finance services, and the compliance officer provide assistance by answering questions and providing guidance on approaches to resolving conflicts of interest. Individuals who fail to complete the annual disclosure questionnaire and/or fail to disclose actual or potential conflicts of interest are subject to appropriate disciplinary and corrective action.”

“The process of determining compensation of the President of the University: The Chairman of the Board of Trustees and two independent members of the Board comprised the Compensation Committee. This group reviewed and determined executive compensation through the use of comparable compensation data from various sources including relevant external compensation surveys, compensation data from peer educational institutions, and internal executive equity analysis. The committee met and reviewed salary history and performed an analysis in reaching the annual compensation. Based on this analysis, the Compensation Committee made a recommendation to the Executive Committee of the Board of Trustees for final approval. Contemporaneous documentation was kept and maintained. LAST MEETING WAS IN NOVEMBER 2018.”

“The Board of Trustees met in October 2018 when a preliminary operating budget was approved by the Board. Search firms specializing in higher education placement and case compensation data were used. Documentation was kept and maintained.”

“The university makes its governing documents, conflicts of interest policy and financial information available to the public upon request. The financial information is also published in the university's voices magazine. The benedictine university conflicts of interest policy is available on the compliance page of the university's website”

“Endowment and investment gains transferred to operations - -500000;”