Trinity University

“The executive committee shall be composed of the chairman, the vice chairman, the secretary, the treasurer and such other members of the board as the chairman may designate. The Executive Committee shall have the authority to take any action which the board is authorized to take except: the election of trustees; the election of board or university officers; the approval of the University budget; the amendment of the charter of the University or the bylaws; or the establishment or amendment of any board or University policy.”

“The 990 and supplemental schedules are prepared by a public accounting firm in collaboration with the organization's senior tax accountant. The draft return is reviewed by the V.P. Of Finance & Admin. and will BE SUBMITTED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW AND ACCEPTANCE. THE FORM 990 WILL THEN BE MADE ELECTRONICALLY AVAILABLE TO THE FULL BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS.”

“A CONFLICT OF INTEREST QUESTIONNAIRE IS DISTRIBUTED TO ALL BOARD OF TRUSTEE MEMBERS, officers and key employees ANNUALLY. THE PRESIDENT'S OFFICE MONITORS ENFORCEMENT OF THE POLICY AND REPORTS ON THE STATUS TO THE AUDIT COMMITTEE, BOARD, AND EXTERNAL AUDITORS. In the event of a potential conflict of interest, the potentially conflicted individual recuses themselves from the discussions and decision process of the transaction identified as a potential conflict of interest.”

“The compensation of the president is set by the compensation committee of the board of trustees after the chief human resources officer gathers peer institution compensation data for the president and vice presidents and provides the data to the board's compensation/executive committee. Each vice president's salary is recommended by the president after completing the annual performance evaluation of each vice president. The president submits each vice president's salary and benefit recommendation to the compensation committee of the board of trustees. The compensation committee is comprised of selected board members without conflict of interest with regard to the compensation arrangements. The compensation committee keeps contemporaneous documentation of the deliberations and decisions regarding the compensation arrangements. This process was last conducted in may 2020.”

“All salaries and wages are recommended by the division vice presidents and approved by the president. Positions other than the president and vice presidents are controlled by a salary increase procedure. The salary increase rate is approved by the board during the annual budget process.”

“The university's audited financial statements and form 990 are available on the university's website and are available in hard copy upon request.”

“As a result of the outbreak of COVID-19, Trinity University made significant changes to their operations during the tax year to limit students' exposure to the virus and protect the broader Trinity and San Antonio communities. These changes had an immediate impact on the university's community and its financial performance. The University provided pro rata room and board refunds to students of approximately $6.6M for the period during which they were not residing on campus. The University was also awarded an emergency grant of $1.7M as part of The Coronavirus Aid, Relief, and Economic Security Act; at least $833k will be distributed to students in fiscal year 2021. As a result of the short-term and potential long-term implications that this public health emergency has had on instruction, student experience, and operations, the University is unable to predict the impact on the generation of revenues and other financial effects.”

“Change In Value of Split Interest Agreements - 366182;”