Hannibal Lagrange University

“The Executive Committee is composed of nine (9) members and composed of the officers of the Board and the Chairpersons of the Standing Committees. No more than one-third (1/3) of the Executive Committee members may reside outside of the State of Missouri. The officers of the Board serve as the officers of the Executive Committee. The Executive Committee shall meet as needed to conduct the business of the University between regular meetings. The Executive Committee, when the Board is not in session, arranges for the execution of orders and resolutions not otherwise specifically committed or provided. It may temporarily fill vacancies in the faculty occurring between regular meetings or during a recess of the Board, and in accordance with the general policy of the Board, has the care and direction of matters pertaining to the welfare of the University, and especially shall discharge such duties as the Board may assign to it from time to time. It shall make formal reports of its action to the Board at its next regular meeting. Appointments to fill vacancies are subject to confirmation by the Board. The Executive Committee does not act contrary to prior action or direction by the Board.”

“The University has one member. The Member of the University is The Missouri Baptist Convention, a Missouri Chapter 352 non-profit corporation.”

“The Missouri Baptist Convention has the sole and exclusive right to elect and remove trustees of the University or any subsidiary.”

“The Missouri Baptist Convention has, in its the sole and absolute discretion, the following right: 1) The right to recommend to the University's Trustees and the right to approve or reject, in writing, any amendment by the University's Trustees of the University's Articles and/or Bylaws; 2) The right to approve or reject the sale, mortgage, lease, pledge, or transfer of all or substantially all of the assets of the University or any subsidiary; 3) The right to approve or reject the creation, amendment, or dissolution of any subsidiary of University; 4) The right to have notice of all meetings of the Board of the University or any subsidiary, to be sent to the Convention's Executive Director; 5) The right to have the Convention's President serve as a non-voting ex officio Trustee of the University's Board; 7) The right to have the Convention's Executive Director to serve as a non-voting ex officio Trustee of the University's Board and as a non-voting ex officio member of any search committee for University's President; 8) The right to have the Convention's President or his designated representative to attend meetings of the Board; and 9) The right to approve or reject any material change by the University in the ministry purposes of University or any subsidiary.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.”

“The University requires all officers and board members to annually complete and sign a conflict of interest questionnaire. The Vice President of Finance is responsible for reviewing the signed statements and ensuring that interested persons are in compliance with the conflict of interest policy. The President is responsible for reviewing the signed statement of the Vice President of Finance. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“The Board determines and sets the President's compensation. Comparability data is used and this process is documented in the board minutes. Form 990, Part VI, Section B, Line 15b - The President and the Executive Board determine the compensation of the other officers. Comparability data is used the process is documented in the officer's HR file.”

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

“Compensation reported in Part VII, column D and Schedule J, Part II, column B is the amount reported on the individual's W-2, box 1 or 5 (whichever amount is greater) per the IRS instructions. In the case of minister's compensation when box 5 of the W-2 is not applicable, box 1 compensation is used. Employee deferrals to qualified retirement plans are normally captured in box 5, not box 1 of Form W-2. For reporting purposes we have included the minister's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C.”

“Change in value of beneficial interest -265,572.”