University of Dubuque

“In general, compensated officers of the board do not have voting power. Although the organization's articles of incorporation grant voting power to the president, the organization's current president, travis frampton, does not exercise this right to vote as a compensated officer. Pursuant to the articles, the president has been included in the total of voting members reported on line 1. Other than compensated officers who do not vote, all members of the board have equal voting power of one vote per individual.”

“(1) richard c. Svrluga, trustee and william j. Svrluga, jr., trustee have a family relationship. (2) other current officers and directors have a business relationship with other current officers and directors to the extent that they serve together on boards: douglas j. Horstmann, chairman/trustee, thomas woodward, trustee, scott a. Knapp, trustee, kimberly m. David, trustee, and rev. Dr. Jeffrey bullock, former president/trustee.”

“Individuals are elected to the board of trustees by vote of the majority of trustees. The articles of incorporation provide that such elections are subject to confirmation or approval by the general assembly of the presbyterian church of the united states of america.”

“The form 990 was reviewed by the university's controller and vp of finance prior to filing the form 990 with the irs. A copy of the organization's final form 990 (including required schedules), as ultimately filed with the irs, was provided to each voting member of the organization's governing body in electronic form via the board's secure website prior to its filing with the irs.”

“The university annually sends a questionnaire to all board members, cabinet, and key employees determined by the university (such as all directors in advancement office, controller, director of construction management, etc.) asking each to determine any related party/conflict of interest disclosures. Responses are reviewed to determine if there are any potential problems.”

“There is a board of trustees committee that sets forth annual goals for the president. His performance is evaluated annually (approximately june or july) based on the goals outlined. His annual compensation and any bonus compensation are then determined and approved by the committee. The committee also uses comparative data from the iowa association of independent colleges and universities (iaicu) in determining compensation. The president evaluates and determines each cabinet member's compensation using iaicu data and annual performance. Each cabinet member has long-term performance goals in the strategic plan. Although annual goals are documented in the strategic plan, each cabinet member has a clear understanding of what s/he is to do.”

“The university is required to post financial statements for the public due to its holding of public debt. The university complies with this requirement by posting its financial statements on an external, third party website. Other financial information, governing documents, and policies are not public information.”

“Hours reported for employees represent recorded payroll hours. Actual hours worked may exceed the hours reported.”

“Change in value of split-interest agreements -22,819. Unrealized gain (loss) on interest rate swap -243,402.”

“There was no change to the organization's committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant.”