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 for certain educational and mission, financial, and governance matters. The following powers are explicitly reserved for the vote of the entire board: the university's mission and tax-exempt purposes, approval of new or discontinuing educational programs, and approve and authorize all earned and honorary degrees upon the faculty's recommendation; the approval of the university capital and operating budgets, tuition changes, debt, purchases and sales of real property, construction and renovation projects, spending policy guidelines, and gift acceptance by university officers or other agents; the election of trustees, board members or university officers, appoint the president, the amendment of the charter of the university or the bylaws; or the establishment or amendment of any board or university policy.”

“Ted Beneski, Herb Stumberg and Cydney Donnell - Business relationship”

“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 comparable peer institution compensation data for the president and vice presidents and provides the data to the board's compensation/executive committee. The executive committee uses the appropriate benchmark data as part of setting the president's compensation, to ensure reasonableness. The compensation committee is comprised of selected board members disinterested with regard to the compensation arrangements. The compensation committee keeps contemporaneous documentation of the deliberations and decisions regarding the compensation arrangements. This process is completed prior to the beginning of each contract period being approved.”

“Each vice president's salary is recommended by the president after completing the annual performance evaluation of each vice president and the comparability data. The president submits each vice president's salary and benefit recommendation to the compensation committee of the board of trustees. The executive committee reviews the president's recommendations and comparable data to ensure that compensation packages remain reasonable. All other 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 are available on the university's website and are available in hard copy upon request. The form 990 is available upon request.”

“- Total Revenue: 1361294, Related or Exempt Function Revenue: 1339095, Unrelated Business Revenue: 22199, Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Change In Value of Split Interest Agreements - -479576; Total - -479576;”