Erskine College and Theological Seminary

“The governing body delegates broad authority to an Executive Committee consisting of the Board Officers and Board Committee Chairs. The Executive Committee has full power and authority to act and to transact any business for and on behalf of the College and in the place of the Board of Trustees during the interim between meetings of the Board of Trustees except the Executive Committee may not appoint or remove Corporate Officers, nor make a bulk sale, dissolve the corporation, alter Bylaws, or authorize degrees.”

“The College is an institution of the General Synod of the Associate Reformed Presbyterian Church (ARPC). The ARPC appoints the College's trustees and must approve all changes or amendments to the College's charter.”

“See explanation for Part VI, Section A, Line 7a.”

“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 organization requires all officers and board members to complete conflict of interest forms on an annual basis. All other institution staff complete the forms every other year. These forms are reviewed by management and a report is given to the Board of Trustees each year at the February meeting. If a conflict of interest were to arise, all material facts are disclosed to the Committee on Trustees; the proposed contract, transaction, or relationship is examined to determine if it is in the best interest of the college, and the decision is documented; and the individual who has an interest excuses him/herself from the discussion preceding the vote and the vote to approve the proposed contract or transaction.”

“The President's compensation is reviewed on an annual basis as part of a performance review by the Executive Committee. Compensation is compared against information obtained from Form 990s of other institutions similar in size to Erskine and compensation surveys and studies are also used. The process includes contemporaneous substantiation of the deliberation and decision.”

“The President negotiates and sets the compensation for other officers. Compensation is compared against other institutions similar in size to Erskine. This process is documented during the board approval of the budget.”

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

“Change in Value of Split Interest Agreements - 138744; Total - 138744;”