St Ambrose University

“The executive committee shall consist of officers of the board of trustees and the chairpersons of each of the standing committees (academic and student affairs, advancement, finance and investment, buildings and grounds, enrollment management, governance and nominating, audit and evaluation and compensation of the president). This committee may exercise, when the full board of trustees is not in session, all of the powers vested in the board of trustees, except: - the power to elect, appoint or remove trustees or to fill vacancies on the board of trustees - the power to change membership of, or to fill vacancies in the executive committee - the power to appoint the president of the university - the power to make, alter, restate, amend or repeal the restated articles of incorporation or bylaws of the corporation - the power to authorize any single expenditure in excess of $500,000 and cumulative expenditures in excess of $2,000,000 during any fiscal year - the power to adopt a plan of merger or consolidation - the right to sell, encumber, lease or exchange or make other disposition of all or substantially all of the property and assets of the corporation or to effect a voluntary disposition of the corporation or a revocation thereof - any other powers which may be expressly or specifically withheld by resolution of the board of trustees the officers of the board of trustees are defined as the co-chairs, the vice chairs, the secretary/treasurer and the assistant secretary/assistant treasurer. The only member of the executive committee who is not a member of the board of trustees is the assistant secretary/assistant treasurer.”

“- laura ekizian, caroline ruhl (until 10/2023), brian bassier and mark kilmer - business relationship - brian lemek and elizabeth lemek - family relationship - paul thompson and breann thompson - family relationship”

“A draft of irs form 990 is provided to the university's audit committee prior to the january committee meeting. The committee reviews the 990 and approves the return subject to any requested changes. The 990 is then provided to all board of trustee members prior to the april board of trustees meeting. The board reviews and approves the return during this meeting.”

“All purchase orders must be approved by the university's general accounting office. All material purchase orders must be approved by the university's vice president for finance. All material purchases that would require approval under the conflict of interest questionnaire would be identified during these reviews. On an annual basis the university's general accounting office compares the responses in the conflict of interest questionnaires to the university's accounting records to ensure they are complete.”

“The compensation of the university's president is the responsibility of the board of trustees of the university. The board of trustees has an evaluation and compensation of the president committee. In addition to recommending the salary and benefit package for the president, this committee also handles the annual evaluation of the president. Every five years the committee obtains a study from a consulting firm specializing in human resource matters to compare the salary and benefits of the university's president to industry medians for institutions of higher education similar in size and scope. This study looks at national trends in addition to compensation levels in the midwest region. In the years between these studies, the committee obtains industry data from sources such as the college and university professional association for human resources (cupa-hr). Generally in late june to early july, the committee asks the president to complete a self-evaluation of his or her performance for the past year. This self-evaluation is reviewed and a summary of the president's performance and future goals is completed by the committee. The committee meets with the president prior to the october board meeting to discuss his or her performance. The committee reviews the compensation of the president and compares it to the industry data noted above. The committee then deliberates and recommends a salary and benefit package that will be presented to the board of trustees for their approval. The discussion and decision of the committee is documented in their minutes. The salary and benefit package is presented to the board of trustees for approval during the october board meeting. The deliberation and decision of the board of trustees is documented in their minutes. The following is the process for setting the salary and benefits of the vice presidents and key employees: the compensation and benefits of the university's vice presidents and key employees is the responsibility of the president. On an annual basis the president has each vice president prepare a self evaluation. The president reviews the self evaluation and documents his or her evaluation of the vice president's performance. The evaluation of key employees is the responsibility of their direct supervisor. The president obtains industry data from cupa-hr and reviews the compensation and benefit levels of each vice president and key employee before setting their salary and benefits. The president then communicates this information to the board of trustees.”

“The university does not make its governing documents, conflict of interest policy and financial statements available to the general public.”

“All fundraising events have volunteer committees that help plan and implement these events. Other volunteers serve on advancement committees. The alumni board has members who represent the university at certain alumni events. Alumni have been recruited to serve on advisory councils including, those representing the academic colleges, specific programs such as computer science and engineering, as well as aspects of student life like campus ministry.”

“Unrealized gain/(loss) on interest rate swap 1,136,272. Unrealized gain/(loss) on swap settlements 201,286. Change in present value of annuities -178,306.”