Mississippi College

“The mississippi baptist convention shall annually elect the trustees by vote of the messengers at the annual convention of that body held immediately prior to the commencement of such terms of office. The trustees shall be elected from nominees jointly approved by the resolution of the board of trustees (acting as a board or through a committee specifically authorized to act on behalf of the board) and by the nominating committee of the mississippi baptist convention (or by such other committee as may be from time to time designated by the convention). No person shall be eligible for election as a trustee by the convention who has not been jointly approved by the board of trustees and the nominating committee.”

“The returns are reviewed by the controller and the cfo. For privacy purposes, the college's audit committee and full board of trustees only receive a public disclosure copy of the 990 for their review prior to filing with the irs.”

“Annually each board member, officer or key employee is required to sign a statement indicating that he/she has read the college's conflict of interest policy and disclosed all possible conflicts. These statements are then reviewed by the audit committee. During the year, if the audit committee determines that a board member has a conflict of interest, the conflict is disclosed to the full board and the specific member with the conflict is required to recuse himself/herself from any decision making involvement related to the issue.”

“The president's compensation is determined by the board's executive committee. The executive committee is composed of the chairman of all board committees. The executive committee uses data from comparable universities to determine compensation. The president has a written contract covering all forms of compensation. Compensation for other top management officials, officers and key employees is determined by the president. Salary data from other like size institutions is used for comparison in determining salary levels. All officers and key employees' salaries are included in the university budget which is approved by the board of trustees.”

“The organization's governing documents, conflict of interest policy and financial statements are available upon request.”

“Change in additional minimum pension liability -2,655,113. Equity income in healthplex -350,473. Changes in split interest obligations -19,003.”

“The audit committee shall annually recommend to the board of trustees a firm of accountants to audit the financial records of the college, shall meet with the auditors selected by the board of trustees to review the audit report, shall oversee distribution of that report to the full board, shall oversee and receive reports from internal audit personnel of the college and shall report to and advise the board of trustees with respect to all matters relating hereto. The external auditors will report directly to the audit committee of the board. Members of the audit committee may not serve concurrently on the business affairs committee.”