Delaware State University

“The executive committee shall consist of the chair of the board and the chairpersons of all the standing committees and no others. The chair of the board shall preside at all meetings of the executive committee. In any interval between the regular meetings of the board, the executive committee shall have the authority to act on behalf of the board of trustees when a majority of the executive committee deems such action necessary for the welfare of the university; provided that the executive committee shall not have the power to amend the bylaws, to fill vacancies or remove any member of the board or to authorize the sale, lease or encumbrance of any of the property and assets of the university. The executive committee shall report its actions at the next regularly scheduled meeting of the board. The executive committee shall also be responsible for ensuring compliance with the board's ethics policy.”

“The governor of the state of delaware may appoint members to the board of directors. Seven governor-appointed members are currently sitting on the board. The governor is, likewise, treated as an ex-officio member of the board. He is not reported on part vii of the form 990 since he is nonvoting. In addition, the governor has teh ability to fill any vacancy that occurs with appointments made by the governor.”

“The university's form 990 was prepared by an outside accounting firm in conjunction with the university's financial department. The 990 is reviewed by the sr. Vp and coo, associate vp for finance, and controller. A copy of the form 990 is made available to the board of directors.”

“The university requires disclosure from officers, directors, trustees, and key employees on a continuous basis. At any time that a relationship is entered into, the member is required to inform the chairman of the board of trustees to determine whether a conflict exists. A recertification statement is also required annually.”

“Delaware state university undertakes a thorough process to determine executive compensation. This process includes each board of trustee member specifically discussing performance in a special annual meeting. Evidence supports compensation along with contemporaneous substantiation of the deliberations and the decision is made by the board of trustees.”

“The university makes its form 990 available to the public by retaining a copy at its place of business. The form 990 is likewise published on the internet at www.guidestar.org. The university's financial statements are published on the university's website. The governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.”

“Delaware state university is a state university. As such, the university's employees do not receive their w-2s from the university, but from the state of delaware. Accordingly, delaware state does not file a form w-3 with the internal revenue service. The university estimates that it has approximately 1,175 staff and faculty currently employed by the state of delaware.”