Oral Roberts University

“The executive committee shall have delegated authority from the board to advise and assist the president of the university to address routine business matters between regular board meetings and to assist the board chair and the president in their joint responsibility to help the board to function effectively and efficiently by suggesting board meeting agenda items and periodically assessing the quality of committee work. The executive committee shall have delegated authority to act for the board of trustees on all matters except for the following, which shall be reserved for the board: president selection and termination; trustee and board officer selection; changes to the bylaws or certificate of incorporation; incurring of university indebtedness other than indebtedness in the ordinary course of business; sale of university assets or tangible property other than in the ordinary course of business; adoption of the annual budget; and conferral of degrees. These bylaws or this board may from time to time reserve other powers exclusively for the board of trustees. In addition to its authority to take action on emergency matters that cannot or should not be deferred to the next scheduled meeting of the board, the executive committee shall oversee the work of board standing committees and other committees.”

“Brooke asiatico has a business relationship with matt rearden, russell evans, stephen robinson, and elias reyes.”

“The form 990 is prepared by an independent cpa firm. It is the policy of oral roberts university that the finance committee will be responsible for the initial review of the internal revenue service form 990 that is to be filed on behalf of the organization. Upon approval of the finance committee, the form 990 shall be presented to the board of trustees along with a recommendation from the finance committee chair for board approval of the form 990 for filing with the irs. A board resolution is not required in order for the form 990 to be filed, provided that the board's approval of the form 990 is in accordance with the requirements for action by the board and is otherwise recorded in the minutes of the organization. Trustees may receive the form 990 as hard copies (mailed or hand-delivered) or electronic files (sent via e-mail).”

“Each director, principal officer, key employee, and member of a committee with governing board delegated powers shall annually sign a conflict of interest disclosure statement which is reviewed by the audit committee. To ensure the corporation operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews are conducted by the audit committee. The periodic reviews at a minimum include the following subjects: (a) whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arms length bargaining, and (b) whether partnerships, joint ventures, and arrangements with management foundations conform to the corporation's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“(1) the compensation of an individual employed in a position of executive, officer, or key employee is reviewed and approved by the board of trustees or its designated committee (compensation/human relations). Persons with conflicts of interest with respect to the compensation arrangement at issue are not involved in the compensation review and approval process. (2) the review and approval of compensation of the individual employed in the position of executive, officer, or key employee is based upon data of comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. (3) there is contemporaneous documentation and recordkeeping with respect to the review and approval of compensation paid to individuals employed in positions of executive, officer, or key employee.”

“The governing documents, conflict of interest policy, and financial statements are made available on the university's website.”

“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.”