Johnson University

“The university's tax preparer will provide the vice president for business and finance a scanned copy of the final version of the form 990 tax return. The return will be mailed and/or emailed to the executive committee and the president. These individuals will have three to five business days to ask any questions prior to the filing of the form 990 tax return. The vice president for business and finance will answer questions or provide information as requested.”

“The board of trustees will review annually the university's conflict of interest policy. Each board member will read and sign this policy at the february board meeting. These signed statements will be retained in the university's business office.”

“The executive committee of the board of trustees will review the cabinet level salaries and benefits annually. This review will be conducted at the standing may executive committee meeting. The vice president for business and finance will provide the salary and benefits information. The executive committee will also receive industry salary comparisons every three to five years. The president of the university does have a written employment contract. Other officers do not have a written employment contract.”

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

“Gain (loss) on interest rate swap agreement 81,193. Actuarial gain (loss) on annuity contracts 222,295. Rounding -1.”

“The finance and investment committee assumes responsibility for oversight of the audit and for the selection of an independent accountant, and this policy has not changed from that of the prior year.”

“On april 21, 2016, johnson university received a letter from the internal revenue service (irs) stating they had considered the university's application for a group exemption letter recognizing its subordinates as exempt from federal income tax under section 501(a) of the internal revenue code as organizations of the type described in section 501(c)(3). Additionally, the irs classified the organizations that johnson university operates, supervises, or controls, and that are covered by the university's notification to the irs, as organizations that are not private foundations because they are organizations of the type described in sections 509(a)(1) and 170(b)(1)(a)(ii) of the code. On july 1, 2016, johnson university florida, inc., began operations. As of june 30, 2017, it is the sole group subordinate of johnson university. Johnson university florida, inc. Is filing its initial form 990 for the year ended june 30, 2017.”