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, rev. Dr. Jeffrey bullock, 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) rev. Dr. Jeffrey bullock, president and joseph a. Chlapaty, chairman/trustee have a business relationship to the extent that both serve on the board of paxton-patterson, llc. Their role as board members is to represent the university of dubuque's 40% interest in paxton-patterson, llc. (2) rev. Dr. Jeffrey bullock, president and scott a. Knapp, trustee have a business relationship. (3) richard c. Svrugla, trustee and william j. Svrugla, jr., trustee have a family relationship. (4) douglas j. Horstmann, secretary-treasurer/trustee, thomas woodward, trustee, scott a. Knapp, trustee, and kimberly m. David, trustee have a business relationship. (5) phillip a. Ruppel, trustee, thomas woodward, trustee, and scott taylor, trustee have a business relationship.”

“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 finance committee at the finance committee meeting prior to filing the form 990 with the irs. The high-level review was led by the external accountant (the signing paid preparer of the return). 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 192,254. Unrealized gain (loss) on interest rate swap 1,913,965. Book-tax difference on paxton/patterson llc -45,907.”