Calvin Theological Seminary

“The executive committee is composed of six members, all of whom are on the board of trustees. The committee holds authority to manage the corporation's affairs as granted by the board, meeting in December, May, and as needed. A majority presence is required for a quorum, and decisions made by the majority at such meetings are binding. The committee can take necessary actions between board meetings, except those that require full board approval.”

“The Synod of the Christian Reformed Church in North America has the power to select and approve members of the board of trustees. They also have the power to fill vacancies that occur, including an increase in the number of trustees.”

“The following decisions are reserved to the Synod of the Christian Reformed Church in North America: 1) Remove any trustee at any time with or without cause; 2) Select the President of the corporation; and, 3) Ratification of the amended or new adopted bylaws”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by appropriate officers and management and is sent to the board finance committee for their review before it is filed. A copy is also sent to all voting board members of the governing body before it is filed with the IRS.”

“Board members and officers are required to complete a disclosure and compliance statement annually. Compliance is monitored and ultimately determined by the president and board of directors. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“The chair of the Board of Trustees and the director of the Development and Finance Committee annually review the compensation of the President, Chief Operating Officer, and Controller, informed by peer information from the Association of Theological Schools. This process is documented in the minutes.”

“See narrative for Form 990, Part VI, Line 15a”

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

“Misc revenue - Total Revenue: 10440, Related or Exempt Function Revenue: 10440, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Actuarial change in post retirement benefit - 45989; Change in value of split-interest agreements - -5198;”