Furman University

“The university's audit committee of the board of trustees reviewed the prepared form 990 prior to filing with the irs. Specific issues and/or questions that arose during the review process were addressed. The public disclosure copy of form 990 was provided to the remaining voting members of the university's board of trustees.”

“The conflict of interest policy for the board of trustees is included in section 9 of the furman university by-laws. Each member of the board of trustees is required to complete a conflict of interest disclosure form at the first meeting of each academic year. Each trustee shall disclose to the board chair any additional potential conflicts of interest at the earliest practical time. Additionally, the university has a conflict of interest policy for employees with executive or administrative responsibilities as the university recognizes that such employees have a duty of loyalty and fidelity in carrying out their responsibilities. This policy applies to those employees designated by the president as having executive or administrative responsibilities. Each such employee is required, at least annually, to complete the questionnaire. This questionnaire requires disclosure of any potential conflicts of interest and is administered by the human resources department.”

“The compensation of the university's president is determined annually by the executive committee of the board of trustees. The committee commissioned studies of peer institutions' executive compensation conducted by independent consultants. Final compensation is approved by the executive committee on an annual basis. The president's employment is guided by a written employment contract, signed by both parties. Additionally, the independent consultants review and analyze three of the officers' salaries annually. The three officers' salaries are selected by the independent consultants and are selected on a rotation baiss. Executive committee meetings are documented.”

“Furman university makes its governing documents, conflict of interest policy, and financial statements available upon request. Additionally, the university's consolidated financial statements and form 990 can be found on the furman website. The consolidated financial statements are included on the nacubo website.”

“Furman university is an institution of higher education providing a distinctive undergraduate and graduate education that emphasizes an engaged approach to liberal learning.”

“To provide a distinctive undergraduate liberal arts education which emphasizes an engaged approach to liberal learning. Furman also offers graduate programs in education and chemistry and also provides a continuing education program for the larger greenville, sc community.”

“A furman education includes co-curricular experiences which increase the trajectory of a student's development socially, physically, culturally, spiritually and intellectually. The overall student experience gives students the opportunity to test the theoretical in real world applications, thus preparing them for life beyond higher education. Intercollegiate athletics consists of 20 sports for men and women. Intramural and club sports are offered as well as opportunities to be involved in student government, service projects, student media outlets and over 140 different student organizations. Student life programs include career services, a counseling center, student health, religious life, diversity and inclusion, residential life, and the trone student center and student activities.”

“Change in interest rate exchange 128,537. Change in split interest agreement 480,057. Change in cash surrender value life ins. 133,502.”