Mount Mercy University

“All members of the executive committee are on the governing board. It shall also be the responsibility of the executive committee to annually evaluate the office of the president and to advise the president accordingly in the performance of the president's responsibilities. Among its responsibilities are recommending the annual salary, benefits, and related matters to be accorded to the president and members of the president's cabinet. It is also the responsibility of this committee to establish the process for presidential searches. At least once every five (5) to ten (10) year period of presidential incumbency, if the president and board of trustees are prepared to renew a long-term commitment to each other, the president and the board shall participate in a comprehensive joint review process to be conducted as the board shall then determine.”

“Barbara knapp, board trustee and jim nikrant, board trustee have a family relationship.”

“The finance committee & executive committee reviews the 990 prior to it being filed and votes to accept it. Each board member receives a copy of the completed 990 prior to the return being filed with the internal revenue service.”

“Board members and officers of the institution are required to disclose all relationships and business affiliations that reasonably could give rise to a conflict of interest involving the institution annually using a conflict of interest questionnaire. All disclosures required under the conflict of interest policy must be directed in writing to the secretary of the board who, together with the university counsel, shall be responsible for the administration of this policy. Matters under this policy concerning trustees shall be reported initially to the chair of the board for appropriate action; those concerning staff will be referred initially to the president. Information disclosed to the secretary or president shall be held in confidence except when the best interest of the institution would be served by disclosing the information to the board in executive session. Trustees or officers who have declared or been found to have conflict of interest in any matter before the administration or the board shall refrain from participating in consideration of the proposed transaction, unless for special reasons the board or administration requests information or interpretation from the person or persons involved. The person or persons involved should not vote on such matters and should not be present at the time of vote. The organization documents its proceedings and findings in its meeting minutes.”

“The executive committee of the board of trustees each year reviews the salary and benefits of the president. Through the annual budget review process, the salaries of other officers and employees are researched and compared with the salaries at mount mercy in order to determine reasonableness and competitiveness. Mount mercy engages a third party firm which uses industry data to determine compensation. See schedule j, part iii. The executive committee either approves the budget or makes recommendations for adjustments based upon the comparative data supplied. All compensation decisions are contemporaneously documented. The process described here was last completed in 2023”

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

“Total number of volunteers is 330. Volunteers consist of board members, volunteers for phonathon, and volunteer coaches for em, development and academic affairs.”

“Change in value of interest rate swaps 150,038. Change in value of split interest agreements -96,666.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”

“This amended return is filed pursuant to the delinquent international information return submission procedures to include a previously omitted form 8865. Reasonable cause statement available upon request. This amended return also corrects an originally filed form 8865 to reflect updated capital contributions to the partnership. Schedule f was also revised to reflect this change.”