North Greenville University

“The executive committee is composed of the chairman, the vice chairman, the secretary, two members-at-large, and the chairman of each of the other board committees. When the board is not in session, the executive committee has the authority to: a) Discharge such duties as the board may assign from time to time and submit a report of its action at the next meeting of the board. b) Review and approve the annual budget prepared by the president and recommend the budget to the entire board for final action. c) Except as limited by these bylaws, or the board itself, have general oversight over matters relating to finance, and implement the fiscal policies of the board. d) Initiate and implement long-range planning for the institution. e) Through the president, serve as the avenue of communication between the board, the faculty, staff, and student body. f) Serve as a grievance committee on complaints received through the office of the president from member of the faculty or staff at the executive committee's initiative or at the request of the president”

“The bylaws were restructured for clarification. The primary change was to restructure the Committees of the Board, including adding a separate Audit Committee and Business Affairs Committee.”

“The 990 is prepared by an independent CPA firm and reviewed in detail by the Organization's top management. Every member of the governing body is provided with a copy of the 990 prior to filing with the IRS.”

“The trustees and officers must sign a conflict of interest policy annually. The conflict of interest disclosure forms are then reviewed by the VP for Business Affairs. Any conflicts are disclosed to the President and the Chairman of the Board. If a matter related to a conflict is considered by the Board, the Board Member with the conflict will recuse him or herself.”

“The Executive Committee of the independent Board of Trustees reviews the salary and benefits of the President and decides what the new contract amounts will be using comparability data from colleges with similar budgets. This process is documented in the committee minutes. The salary of the Officers is reviewed annually by the independent Board during budget approval. The Officers are typically eligible to receive the same rate of merit increases as other employees, and the final salary decisions for the Officers is made by the President. This process is documented in board minutes as part of the annual budget process.”

“At this time, the University does not make available to the public its governing documents, conflict of interest policy, and financial statements.”

“The University is an institution of the South Carolina Baptist Convention (Convention). The Convention appoints the University's 25 trustees and must approve all changes or amendments to the University's charter.”

“Change in value of trust -26,590. Unrealized loss on assets held for sale -643,278.”

“The University's Board assumes oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”