Midamerica Nazarene University

“The Executive Committee includes the President, Chairperson, Vice Chairperson, Secretary and Treasurer of the Board, Standing Committee Chairs plus (2) elected members, at least (1) of whom shall be a layperson. It exercises most of the powers of the Board when the Board is not in session, but they do not take final action on any major matters pertaining to the University's position statement and mission, the removal of a University officer or Trustee from office, or the encumbrance of substantive institutional assets, until appropriate committees recommend such action and the Board has voted.”

“Philip Speicher and Andrew Speicher - Family relationship”

“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.”

“All trustees, MidAmerica Nazarene University Foundation trustees, and administrative officers of the University (members of the President's Cabinet) must disclose annually in writing any conflict of interest, or potential conflict of interest. If a circumstance should arise where it may be in the best interest of the University to engage in a transaction despite the conflict of interest, after disclosure of the conflict of interest, the individual with whom the conflict of interest is present must abstain from any discussion or deliberation concerning such matter (unless the Board of Trustees or administration requests information or interpretation for special reasons). Record of such individual's withdrawal from participation in the discussion, deliberation, and decision on the matter should be noted in any minutes of the session at which such matter is considered. Should a potential conflict of interest matter require an executive committee or board vote to resolve, those concerned shall not be present at the time of the vote. If a trustee, MidAmerica Nazarene University Foundation trustee, or administrative officer is uncertain whether to list a particular relationship, the board chair and institutional legal counsel may need to be consulted. The board chair and legal counsel may elect to seek the judgment of the executive committee of the Board of Trustees before informing or consulting with the entire board within an executive session. Information shared or gathered as a result of such consultations (including information provided on the conflict of interest statement) shall be confidential except when the institution's best interests would be served by disclosure. Such disclosure will be made only after informing those concerned. The finance committee of the Board of Trustees will conduct periodic reviews of financial activities to ensure that the University is operating in a manner consistent with accomplishing the institution's non-profit purposes and that the University's operations do not result in private inurement or impermissible benefit to private interest.”

“The President and other executive administrators are employed with the approval of the Board of Trustees. The Board of Trustees determines their compensation based upon an analysis of comparable market rates and terms. The review and deliberation are documented in the board minutes.”

“See narrative for Form 990, Part VI, Line 15a.”

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

“Misc Revenue - Total Revenue: 30891, Related or Exempt Function Revenue: 30891, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Change in value of annuities - 22097;”