Howard Payne University

“The Executive Committee shall have all power and authority of the board, except as restricted by the bylaws. The Executive Committee consists of the President as an ex-officio member, the Chairperson, the two Vice Chairpersons, Secretary of the board, the Chairperson of each standing committee, and seven other board members. All business conducted by the Executive Committee is reported in full at the next regular board meeting.”

“The Baptist General Convention of Texas (BGCT), a related organization, nominates half plus one of the total trustees to the board.”

“The Form 990 is prepared by an independent CPA firm and is reviewed in detail by the CFO before it is provided to the board's finance committee. A full copy of the 990 is shared with the board prior to filing with the IRS.”

“The University maintains a board-adopted conflict of interest policy. Trustees and officers are required to annually disclose potential conflicts of interest. The University monitors and enforces compliance with the policy by publishing it on the employee intranet, limiting business dealings with related parties, and discouraging activities that might be perceived as a conflict of interest. The University business office and CFO are charged with monitoring and enforcing compliance with the policy. 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.”

“The compensation for the University's President is recommended by a special committee consisting of independent members of the board of trustees. Years of experience, performance, and the review of comparative data of similar universities are taken into consideration when determining the President's compensation. The board deliberates regarding the President's compensation in executive session, and this is recorded in the minutes.”

“Compensation for other officers is established by the President and based on years of experience, performance, and comparable data of like positions in similar universities. Decisions are documented in the human resources files.”

“The University's primary governing documents are on file with the Texas Secretary of State and are publicly available. The conflict of interest policy and financial statements are made available in accordance with applicable law.”

“(Expenses $ 984,225 including grants of $) Provide academic support through library and various academic departments of the University.”

“Change in value of beneficial interest in trusts - 40950; Change in value of perpetual trusts held by others - 2385410;”