Augsburg University

“The executive committee can meet and vote on resolutions as needed for events or activities that occur between board meetings. The executive committee includes the chair and other officers, plus at least four other members elected by the board. The audit committee approves the annual financial audit and tax return filings.”

“The voting members of the university are the governing members. The governing membership consists of: (1) eight delegates each from the following synods of the evangelical lutheran church in america: minneapolis area synod, saint paul area synod, southeastern minnesota synod, and northwest synod of wisconsin; (2) the bishop, or the bishop's designee, from each synod; (3) five members from the board of regents, determined at the discretion of the board chair; (4) the president of augsburg university (5) six members from the faculty: the chair of the faculty senate and the chairs of augsburg university's schools, one for each school, as appointed by the provost. (6) two members of the university administration determined in the discretion of the president; and (6) two current students holding elected seats as members of the student government. Members from each constituent group shall be selected by procedures determined by their particular body unless otherwise specified in these bylaws.”

“The governing membership elects the members of the university's board of regents and the nominating committee. The governing membership also establishes and elects members to such other committees it deems necessary to conduct its business.”

“The governing membership must approve amendments to the articles of incorporation or bylaws of the university, to merge or consolidate with another corporation, to dispose of all or substantially all the assets of this university, or to dissolve the university. The governing membership receives reports from the board of regents and administration of the university and generally acquaints itself with the progress and needs of the university. Its objectives are to strengthen the university spiritually and academically, to promote the university in appropriate forums, and to provide whatever other forms of assistance it may find feasible and appropriate. It may make recommendations to the board of regents as it deems advisable.”

“An independent public accounting firm prepares the form 990 based on data supplied by management of the university. The draft of the form 990 is reviewed by management with any corrections and changes being incorporated into the document. The audit committee reviews and approves the filing of the 990 and 990-t. The full tax return is posted to the board member portal prior to filling the return with the irs.”

“Augsburg university has both a conflict of interest policy specific to its board of regents and employees to protect and safeguard the interests of augsburg university. Each year, the board of regents are required to disclose any potential or actual conflicts of interest in their service to augsburg university. Such forms are reviewed by the board chair, or his/her designee, with appropriate action taken. Regents are required to disclose any conflict prior to discussion at meetings and to recuse themselves from voting, as recorded in the minutes. Augsburg university also seeks to avoid conflicts between the personal interests of employees and the interests of the university. In the event an employee or their family member may have a financial, personal, or professional interest that could potentially create an adverse conflict of interest involving the university, the employee is required to provide written disclosure to the appropriate vice president. The employee is then required to refrain from participating in the university's consideration or processing of the transaction to avoid any influence upon such transaction.”

“The president's compensation is reviewed, and adjusted if necessary, annually by the presidential review and compensation subcommittee of the board of regent's executive committee. It is the committee's practice to commission an external market analysis every few years. The last external market data report was commissioned in june 2024. The committee conducts a performance review of the president based on board input and predetermined performance goals. The results are communicated to the president in the fall by the board chair. If a salary increase is approved by the board, a personnel action request form is submitted. The president annually reviews the compensation for all members of the president's leadership team (plt). She/he determines the compensation for her/his direct report but leaves the final decision to the appropriate vice president for employees that do not report directly to her/him. Human resources provides survey data from the college and university professional association for human resources (cupa-hr) as well as industry specific compensation information for certain positions. The cupa-hr salary information is based on over 150 schools that compare to augsburg regarding enrollment size, academic programs, budget size, as well as other elca colleges. Human resources provides this information to the president each spring/summer and the review occurs during the next few months. The president communicates the compensation increase to the plt members and human resources ensures a personnel action request is completed. The process described here was last completed in 2025.”

“The university does not make its governing documents and conflict of interest policy available to the public. Audited financial statements are available on the electronic municipal market access website.”

“Adjustment of actuarial liability -13,771. Change in allowance for uncollectible pledges -471,436. Change in value of swap agreement -68,496.”