Anderson University

“The governing body has delegated broad authority to an executive committee. This committee is comprised of seven board members including the chair, vice chair, and secretary of the board. The executive committee has all power to act for the full board during the interim periods of the meetings of the board, and all actions of the committee are binding on the full board.”

“The governing body of anderson university is vested in a board of trustees, elected by the south carolina baptist convention in the manner and for the terms prescribed in the charter of the institution, in accordance with the action of the convention. The south carolina baptist convention is an association of cooperating churches which meets annually for two days to conduct convention business. Each church that contributes to the cooperative program and adheres to the baptist faith and message 2000 is allowed to send a delegation of messengers to the annual meeting. Messengers register in advance and credentials are issued (including voting ballots) to qualified messengers. The messengers elect the trustees of anderson university.”

“Certain governance decisions are reserved to the messengers of the south carolina baptist convention, including: (1) the appointment and removal of members of the board of trust, (2) amendments to the articles of incorporation, (3) merger or dissolution of the corporation, and (4) the disposal of assets other than in the usual and regular course of the university's activities. Further, the executive board of the south carolina baptist convention may approve amendments to the articles of incorporation other than an amendment changing the relationship between the university and the convention.”

“Form 990 is prepared by an independent tax preparer. The form 990 is then reviewed in detail by top management (accountant, controller, and svp of finance and cfo) at the university. The form 990 is then forwarded to the board to review after it is filed with the irs.”

“Conflict of interest statements are signed annually by each board member, officer, and key employee. The signed statements are reviewed by the executive assistant to the president and by the president. If a conflict of interest arises during a meeting, the board of trustees member or the presiding officer identifies the conflict of interest, and the individual excuses themselves from discussion and vote on the matter. Transactions are monitored throughout the year by administration to ensure compliance is maintained.”

“Line 15a: the president's compensation is reviewed annually by an independent executive committee of the board. A written evaluation is then completed and compared to other college presidents at similar institutions. The compensation and related benefits provided are then approved by the full and independent board in the executive session. These deliberations are recorded in the corporate minutes. Line 15b: annual written performance evaluations are conducted by the independent president, which becomes the basis for pay increases; the president considers comparable compensation for other similar qualified individuals. These deliberations are documented in employee files.”

“Anderson university makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Change in value of perpetual trust 121,919.”