Dordt University Incorporated

“The executive committee is comprised of seven to ten voting members from the board of trustees and the president of the college including the officers of the board, the chairs of board standing committees and four additional board members selected by the board of trustees. The executive committee has the duty to make recommendations to the board of trustees and do other acts that are in the best interest of the college, including making decisions which cannot be prudently withheld until the next meeting of the board of trustees and oversight of the executive compensation process. Certain actions are reserved to the full board of trustees as outlined in the bylaws.”

“The organization's bylaws were amended in april 2018 to change the number of at-large member trustees appointed by the board from other churches from six to eight.”

“The college's members consist of the society made up of confessing members of the christian reformed church including 18 regional classis groups.”

“Twelve members of the board of trustees are elected by the regional classis from among their members including the following: lake superior, minnkota, north central iowa, heartland, central plains, iakota, california south/greater los angeles, central california, columbia/pacific northwest, arizona/red mesa, rocky mountain/yellowstone, and wisconsin.”

“The form 990 is reviewed and approved by the finance committee prior to filing. The accounting firm performing the financial statement audit also reviews the form 990. The form 990 is provided to each board member prior to filing with the irs.”

“The college's conflict of interest policy covers the board of trustees. Each board trustee is required to annually complete and sign a conflict of interest disclosure statement. Any conflicts of interest must be disclosed and the executive committee will take appropriate action in dealing with any conflicts so disclosed. If a conflict of interest is determined to exist, the board trustee will withdraw from any discussion and abstain from voting on any matters where his/her personal interest may be involved. Any conflict of interest report is documented in the meeting minutes.”

“Compensation for the president is determined using comparability data and is approved by the board of trustees on an annual basis. Compensation levels should be comparable to similar positions within educational institutions with similar characteristics as dordt college. The decision is documented by the board chair and sent to human resources. This process was most recently undertaken in 2018.”

“The college makes its governing documents, conflict of interest policy, and financial statements available to the public upon request at the business office.”

“Other professional fees: program service expenses 1,818,598. Management and general expenses 174,817. Fundraising expenses 291,848. Total expenses 2,285,263. Dining hall contract: program service expenses 2,774,620. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,774,620. Off campus program fees: program service expenses 778,223. Management and general expenses 0. Fundraising expenses 0. Total expenses 778,223.”

“Change in value of split interest agreements -49,650. Loan cancellations and write offs -25,559.”

“Neither the oversight process for the audit or the selection process of the independent accountant changed during the tax year.”