Samford University

“The Board of Trustees shall elect from its Active and Life Members an Executive Committee consisting of: (a) those currently serving Trustees who formerly served at least one term as Chair of the Board; (b) sixteen (16) additional members, including the Chair, Vice Chair, Secretary, and Assistant Secretary of the Board, and the respective chairs of the Business and Financial Affairs, Audit, Operations and Planning, Student Affairs and Enrollment Management, Academic Affairs, University Advancement, and Investment Committees and of the Committee on Trustees. Four additional members of the Executive Committee shall be elected from the membership at large. Members of each Board committee shall be elected annually to serve terms of one calendar year or until their successors have been elected and have agreed to serve. Members of the Executive Committee are eligible for reelection to the Executive Committee provided their terms as Trustees have not expired. PER SAMFORD UNIVERSITY BYLAWS, THE EXECUTIVE COMMITTEE SHALL HAVE THE FULL POWER AND AUTHORITY OF THE BOARD OF TRUSTEES TO TRANSACT ALL BUSINESS OF THE UNIVERSITY BETWEEN MEETINGS OF THE BOARD, EXCEPT WHERE LIMITED BY THE BOARD OR BY GOVERNING LAW.”

“ELIZABETH B. HOLLOWAY, WILLIAM STEVENS AND TIMOTHY VINES - Business relationship”

“The Board of Trustees has delegated to the Audit Committee the task of reviewing the Form 990 with management. The Audit Committee then prepares a report of this review and submits it and a copy of the 990 to the full Board prior to the filing of the return with the Internal Revenue Service.”

“Annually, the University distributes a questionnaire that requires trustees, officers, and key employees to disclose any actions that might be in violation of the Conflict of Interest Policy. Trustees or officers who have declared or have been found to have conflict of interest in any matter before the University administration or the Board shall refrain from participating in consideration of the proposed transaction, unless for special reasons, the Board or administration requests information or interpretation from the person or persons involved. The person or persons involved should not vote on such matters and should not be present at the time to vote. Any Board member who is uncertain about possible conflicts of interest in any matter may request the Board, through the Chairman, to determine whether a possible conflict prevails; the Board shall resolve the question by majority vote. When possible, the question of potential conflict should be referred to counsel for an opinion prior to the Board's vote. Accounting personnel overseeing the 990 preparation and other accounting functions review the questionnaires to help monitor compliance.”

“Compensation is compared to survey results from CUPA-HR and the Council for Christian Colleges and Universities (CCCU) and other sources. The President's compensation package was approved by the Board of Trustees and is reviewed annually by a committee of the Board of Trustees, which includes the Chairman of the Board of Trustees. The deliberation and decision has been appropriately documented. This process was undertaken in 2021 and 2022.”

“Compensation for officers is compared to survey results from CUPA-HR and the Council for Christian Colleges and Universities (CCCU) and other sources and is approved annually by the Chairman of the Board of Trustees and the President. Compensation for key employees is also compared to survey results and approved annually by the Provost and President. The deliberation and decision has been appropriately documented. This process was undertaken in 2021 and 2022.”

“The University files its Charter and amendments with the Office of the Judge of Probate of Jefferson County, Alabama, and the Office of the Secretary of State of the State of Alabama. The conflict of interest policy is available on the University's intranet and portions are contained in the Vendor Request Form. Financial information is available on Form 990 which is available upon request or at www.guidestar.org. In addition, financial statements are available on the Municipal Securities Rulemaking Board website at www.emma.msrb.org.”

“Other program services - Total Revenue: 2966833, Related or Exempt Function Revenue: 2966833, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“(Expenses $ 10,966,530 including grants of $)(Revenue $ 15,761,214) SAMFORD UNIVERSITY MAINTAINS A BEAUTIFUL CAMPUS OF ACADEMIC AND ADMINISTRATIVE BUILDINGS AND STUDENT HOUSING.”

“Pension liability adjustment - 31496010; Unrelated debt financed income - -822771; Change in value of split-interest agreements - -2182610; Loss on defeasance - -2676316;”