Loyola University New Orleans

“All members in good standing of the Society of Jesus who are members of the Jesuit Community of Loyola University New Orleans and who hold full-time or part-time positions at the university and who have held such academic positions for one academic year shall be eligible for membership in the corporation. Membership in the corporation shall consist of not fewer than three nor more than twenty-five persons who fulfill these qualifications.”

“The sole rights and duties of members shall be (a) to elect annually such members of the Board of Trustees as are provided in these articles; (b) to receive annually a report from the President; (c) to determine the dissolution of the Corporation and the distribution of its assets, consistent with the terms of Article V hereof; (d) to amend the Articles and By-Laws of the corporation in the manner specified in Article IX; and (e) to fix and determine by majority vote the number of Trustees who shall constitute the whole Board of Trustees. The composition of the Board of Trustees shall be at all times such that more than twenty-two percent (22%) of the total membership of the Board of Trustees, but not more than sixty percent (60%) of said Board shall be composed of members in good standing of the Society of Jesus.”

“The Board of Trustees shall have and exercise the corporate powers prescribed by law. The essential function of the Board shall be policy making and responsibility for sound management. It shall formulate and determine the general educational and financial policies as shall be deemed necessary for the administration and development of the Corporation in accordance with its shared purposes. The Board shall create committees of the Board and Ad-Hoc Committees as it may deem necessary or desirable to carry out the purposes of the Corporation, each of which shall have such powers and responsibilities as the Board of Trustees shall designate. Nothing shall be considered to negate the power of the President to establish administrative committees, visiting committees, councils and other bodies he/she may deem necessary or desirable to aid him/her in the performance of his/her duties.”

“The Audit Committee reviews the Form 990 and recommends the review to the Board of Trustees. The Form 990 is posted on the Board of Trustees website for review. In addition, the Form 990 is reviewed by an independent accounting firm prior to its submission to the Board of Trustees.”

“Under the Conflict of Interest Policy each Trustee is required when initially elected, and annually thereafter to acknowledge in writing that he or she has reviewed this Policy and is complying with it, in letter and in spirit; when initially elected and annually thereafter, to complete the Disclosure Statement. An amendment statement must be filed promptly in the event of a material change in circumstances, and to disclose actual or potential conflicts of interest at any time when he or she becomes aware of them.”

“The Executive Committee of the Board of Trustees, chaired by the Board Chairperson, deliberates to determine the President's compensation. Each member of the compensation-setting body is a disinterested party. Key employee compensation is determined upon hiring by the President or Provost, depending on the organizational status of the key employee.”

“The IRS Form 990 and 990-T are made available to the public upon request. A copy of each is also on file at the university's library.”

“The annual financial report, conflict of interest policy, and other governing documents are also made available to the public upon request.”

“Non-recurring expense, Information technology system implementation related expenses, and Hurricane Ida insurance and FEMA related proceeds, net of related expenses.”