Claflin University

“The executive committee is elected at the annual meeting of the board and consists of nine members including the chair, secretary, treasurer, and the chairs of the standing committees of the board of trustees. The executive committee shall act in the interim between meetings of the board and shall have the following powers and functions: it shall hold stated meetings as fixed by the vote of its members and special meetings at the discretion of its chairman. It shall be responsible for the insurance and proper care of all real estate and personal property of the university. It shall assure arrangements for the bonding of those officers and staff members who handle the funds and securities of the university. It shall have no power to grant degrees, nor to remove or replace any member of the faculty, though it may suspend such a member pending investigation and action by the board. It has no power to part with or encumber any of the university real estate, nor to rescind or annul any action of the board. The executive committee shall report to the full board on all action taken between meetings of the board.”

“The 990 is provided to the budget and finance committee and reviewed with the cfo. Copies are provided to the full board for review.”

“The conflicts of interest policy is reviewed annually during the fall board meeting. Board members and key employees sign an annual statement to acknowledge that no conflicts exist. In the course of meetings and/or activities, a board member or key employee will disclose any interests in a transaction or decision where he/she, including their business and/or other non-profit affiliations, family and/or significant other, employer, or close associate will receive a potential benefit or gain. After disclosure of any possible conflict of interest, the person will be asked to leave the room for the discussion and will not be permitted to vote on the matter. The goverance committee on the board monitors and enforces compliance with the entire governing body. They stay abreast on all regulations pertaining to higher education and sacscoc our accrediting body.”

“The board of directors executive committee determines the compensation for the president based on comparable data received from human resources at the request of the board chair. The president performs a similar process for determining compensation for other officers and key employees of the university.”

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

“Consultants/professional services: program service expenses 3,526,327. Management and general expenses 2,902,848. Fundraising expenses 291,533. Total expenses 6,720,708. Services contracts: program service expenses 192,933. Management and general expenses 3,126,072. Fundraising expenses 334,133. Total expenses 3,653,138. Other services: program service expenses 64,981. Management and general expenses 0. Fundraising expenses 0. Total expenses 64,981.”

“Transfer of property -8,275,606.”