Millikin University

“The prepared form 990 is reviewed by the vice president of finance and business affairs before it is filed with the irs. It is also distributed to all members of the board of trustees and discussed and accepted by members of the audit committee and governance committee before it is filed with the irs.”

“Annually, the president's office sends out a questionnaire to all officers, trustees, and key employees in which any potential conflicts of interest are disclosed. The president's office monitors the return of all questionnaires and reviews and maintains these records.”

“The executive board has the overall responsibility for the compensation review of the president basing it on three factors: a)summative performance appraisal focused on annual goals with consideration of the results of the evaluation conducted in the previous fall; b)market analysis, especially peer and benchmark data; c)institutional needs. The president submits a status report on the current year's goals, anticipated year end results and a set of proposed goals for the upcoming academic year. The board chair will also receive appropriate peer and benchmark data from the human resources office. The executive committee will review the president's performance with the board chair and discuss their conclusions orally with the president to ensure the accuracy and fairness of judgments. The executive committee will then discuss its conclusions and compensation recommendation with the president. The board chair will discuss the executive committee's conclusions and compensation recommendation with the full board in executive session, with the president in attendance. The board will then approve the president's compensation for the following year, and the board chair will then prepare the necessary written confirmation. The board chair and president will then meet privately to conclude the process. The president has the overall responsibility for the compensation review of the vice presidents. A market analysis is done by the hr office that includes peer and benchmark data. This analysis is then used as a tool for determining salary changes.”

“The organization's governing documents, conflict of interest policy, and audited financial statements are made available to the general public with copies provided upon request.”

“Student services: program service expenses 836,196. Management and general expenses 0. Fundraising expenses 0. Total expenses 836,196. Printing: program service expenses 157,654. Management and general expenses 116,640. Fundraising expenses 67,877. Total expenses 342,171. Bad debts: program service expenses 320,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 320,000.”

“Change in beneficial interest in perpetual trusts -351,583. Change in fair value of interest rate swaps 42,527.”