Union College

“The executive committee is comprised of the executive officers of the college. The executive/officers consist of president, vice president (academic dean), and secretary/treasurer (vp for finance). The committee has the authority to make financial commitments on behalf of the college of up to $100,000.”

“Kent thompson and rick krueger - business relationship”

“The college's members are comprised of the same constituency as the mid-america union conference of seventh-day adventists, as defined in the conference's governing instruments.”

“The college's members may elect or remove the board of trustees. The president, vice president for finance, vice president for administration, and director of education of the mid-america union conference serve as trustees of the college, as do the presidents of all local conferences within the mid-america union conference association territory.”

“Any amendments of the college's governing documents require the approval of the college's members.”

“The form 990 was prepared by an independent accounting firm using data supplied by management. A copy of the form 990 was reviewed by the finance committee and provided to each member of the board of directors prior to filing with the irs.”

“Trustees must sign a conflict of interest form at the start of each year. All trustees shall disclose to the board of trustees any possible conflict of interest at the earliest practicable time. No trustee shall vote on any matter under consideration at a meeting of the board or any of its committees in which the trustee has a conflict of interest. The minutes of such a meeting shall reflect that a disclosure was made and that the trustee having a conflict of interest abstained from voting. Any trustee who is uncertain whether a conflict of interest may exist in any matter may request the board of trustees or committee of the board to resolve the question by a majority vote.”

“The north american division of seventh-day adventists publishes pay scales for all organizations under them. The pay scales provide a base salary and everyone gets a percentage of the base salary, allowing for variances based on the cost of living in the area. These pay scales are developed with an external independent company that calculates the data. For the president and cfo of the colleges and universities, the pay scales have a provision to add a spouse allowance of 20 percent to their salary. Union college creates categories within these ranges and everyone is placed within the ranges based on experience and degrees held. Everyone is placed in these categories by human resources and the human resources committee. Once a year the finance committee is given a copy of each employee's salary, and copy of the pay scale to review for accuracy. A committee of the board reviewed compensation for the president in 2017 and the vp of finance in 2017. The process is documented in meeting minutes along with a letter submitted to payroll documenting changes in compensation.”

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

“Change in value of annuities and split-interest agreements -94,377.”