Saint Leo University Inc.

“The executive committee shall have ten (10) members, all of who shall be voting trustees, except for the president who shall be ex officio without vote and not counted as part of a quorum for the purpose of transacting business. The chairperson, vice chairperson, and secretary shall be members along with the chairpersons of all the board standing committees. In addition, one trustee shall be nominated by the committe on trustees and elected by the board at the annual meeting to serve on the committee. The chairperson shall insure there is at lease one member of the benedictine community on the executive committee. The purpose of the executive committee is twofold; 1) it shall serve at the pleasure of the board as its agent in helping the president to address business matters not otherwise herein solely reserved for the board of trustees or as otherwise delegated by the board between regular board meeings to conserve time; and 2) it shall assist the chairperson and the president in their joint responsibility to help the board to function effectively and efficiently by suggesting the board meeting agenda items and periodically assessing the quality of committee work. The committee shall have the authority to take action on emergency matters which cannot or should not be deferred until the board's next schedule meeting. The committee shall have authority to act for the board of turstees on all matteres except for the following which shall be reserved for the board; presidential selection and termination; trustee and board officer selection; changes in institutional mission and purposes; changes to the bylaws, charter, or articles of incoporation; incurring of corporate indebtedness in excess of $250,000; sale of university assets or tangible property valued greater than $250,000; adoption of the annual budget; and conferral of degrees.”

“Description of process used to review form 990. The board will receive a "finalized" draft copy of the 990 ahead of the february board meetings. During the board meeting the management team will briefly discuss and describe the 990 and will take comments and questions related to the draft. The board will get to vote on approval, and once approved, saint leo university will submit the 990 to the irs.”

“Description of process to monitor transactions for conflicts of interest. University members shall avoid favortitism and any potential conflict of interest or appearance of a conflict of interest through the following requirements: a. Trustee duties: elements of a conflict. A trustee has a conflict of interest whenever the trustee or a family member or a business associated with a trustee or a family members (insofar as may be known to the trustee) has an existing or potential financial or other interest in a matter pending before the board of trustees that might reasonably be expected to impair the trustee's independence of judgment or objectivity in the discharge of governance responsibilities. "business associates with a trustee" means an organization, corporation, partnership, proprietorship or other business entity with respect to which either the trustee or (insofar as may be known to the trustee) a member of the trustee's family; a) receives compensation in excess of $500 in any month or has any contractual right to future income in excess of $6,000 per year excluding compensation from the university, any governmental source, investment or savings income, retirement or insurance benefits or alimony; b) serves as an officer, director, partner, or employee; c) holds a financial interest valued in excess of $10,000. B. Board recusal: implications of recusal. Conflict of interest comes in many forms and cannot be avoided entirely. Recusal on a particular matter because of a conflict does not reflect adversely on the involved trustee, rather, it is simply recognition that, in a complex and interconnected society, conflicts will occur. When this happens, recusal is necessary to assure that a trustee's independence of judgment is not compromised, that the public's confidence in the integrity of the board of trustees is preserved, and that the university's public mission is protected. C. Conflict of interest and recusal procedures: review of procedures: the board of trustees, with the assistance of the university counsel, shall review annually at a board meeting the requirements and procedures provided in this policy. Each trustee shall sign a receipt indicating the date the code was received and acknowledging that they are responsible for reading the code and is bound by it. Trustees can seek clarification of the code's provisions from the university compliance officer. Recusal: a trustee must self recuse from a matter if the trustee has: a) any financial interest, direct or indirect, that is incompatible with the discharge of the trustee's public duties, or b) any personal interest, direct or indirect, that is incompatible with the discharge of the trustee's public duties. D. University members expected behavior: no employee shall have any interest, financial or otherwise, direct or indirect, or engage in any business transaction or professional activity, that is in substantial conflict with the proper discharge of the employee's duties. E. Additional obligations: trustee and senior administrative personnel have a duty to the university to always act in good faith, with the care an ordinary person in a like posiiton would exercise under similar circumstances, and in a manner reasonably believed to be in the best interests of the university. Persons occupying these positions of trust shall complete and submit, on at least an annual basis, a conflict of interest disclosure form ("form"). The form shall be amended for frequently, as needed, whenever there is a material change in the circumstances of the reporting person that would make the form then on file materially false or misleading. In addition, all trustees must agree and sign a statement of responsibilities ("statement") that will provide some guidance on the special responsibilities attended to that office. The form and the statement may be changed from time to time by the board.”

“Office & positions for which process was used. The university hires an independent consultant to review and make recommendations for the president's compensation package based off of industry, trends, etc. The executive committee of the board of trustees decides what the president's compensation will be after reviewing the consultant's work and recommendation. The exeutive committee of the board of trustees reviews and approves all salaries and bases their review on salary trending and other compensation related information. The process is used to establish compensation for the following offices and positions: university president senior vice president vice president of student affairs vice president of academic affairs vice president of business affairs vice president of athletics vice president of strategic enrollment management university counsel.”

“The organization makes its form 990 available to the public by retaining a copy at its place of business and providing it upon request. The form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.”

“Pledge write-off 104,571. Change in value of split interest agreement -862,445.”