Oklahoma Baptist University

“OBU was organized by action of the Oklahoma Baptists, formerly the Baptist General Convention of Oklahoma (BGCO). According to the University's bylaws, Oklahoma Baptists has the power to remove (for cause) trustees and replace them. The Executive Director - Treasurer of the Oklahoma Baptists is a trustee on the University's Board.”

“The Form 990 is prepared by an independent CPA firm and then reviewed in detail by the Finance Team. It is then made available to the Audit Committee and the entire Board prior to being filed with the IRS.”

“Officers, trustees, key employees, and all employees with budgetary responsibility are required to submit conflict of interest disclosures annually. These forms are reviewed by management as well as the Audit Committee. Any conflicts or potential conflicts are resolved by the Audit Committee and the Board of Trustees. All interested parties are required to recuse themselves from board deliberations and any subsequent vote.”

“The University participates in annual salary studies of various higher education associations and uses the studies to review appropriateness of officer and key employee salary and benefits. The President has an annual review by the Board of Trustees that includes a performance review and comparison to average salaries and benefits of like institutions. The deliberations and decisions regarding executive compensation are documented in the board minutes.”

“The compensation approval process for the CFO is identical to the process followed for all other University employees. The annual salary studies are utilized to guide and inform compensation levels for each employee. An annual performance review is conducted and approved by their immediate supervisor. All personnel files are maintained in the HR office.”

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

“Compensation reported in Part VII, column D and Schedule J, Part II, column B is the amount reported on the individual's W-2, box 1 or 5 (whichever amount is greater) per the IRS instructions. In the case of minister's compensation when box 5 of the W-2 is not applicable, box 1 compensation is used. Employee deferrals to qualified retirement plans are normally captured in box 5, not box 1 of Form W-2. For reporting purposes, we have included the minister's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C.”

“Other Income - Total Revenue: 7006267, Related or Exempt Function Revenue: 6978758, Unrelated Business Revenue: 27509, Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“(Expenses $ including grants of $)(Revenue $ 6,978,758) Miscellaneous revenue generated from educational sales/services/events.”

“Change in value of investments held by supporting organization - -4387002; Change in value of beneficial interests in funds held by others - 306708; Change in actuarial value of PRBO - -530152;”

“Foreign expenditures are monies expended for student trips outside the US. The organization tracks expenditures in accordance with the accrual basis of accounting. They are recorded based on actual out-of-pocket expenses while traveling outside the US using expense reports and other appropriate documentation.”