Criswell College

“The Executive Committee has the power to act for the Board of Trustees ad interim in all matters with the following exceptions: the Executive Committee shall not have the power to elect or dismiss the President, elect of dismiss elected faculty, approve the annual budget, amend the Corporation's Certificate of Formation, Bylaws, or Articles of Faith, sell, encumber or otherwise transfer any real property owned by the Corporation or make any binding decisions affecting the Corporation's interest in First Dallas Media, Inc. or radio station KCBI. The Executive Committee consists of the Chairman, Vice Chairman, Secretary and two Trustees appointed by a majority of the trustee officers.”

“The following changes were made to the organizations bylaws: - Verbiage change to the Mission statement to broaden the description to Christian Leaders from ministerial based vocations. - In regard to the conflict of interest policy the following items were added: conflict resolution procedures and the length of time a trustee must recuse themselves once a conflict is disclosed.”

“The Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's controller and chief business officer. The reviewed Form 990 is then provided to the organization's board of directors prior to filing.”

“The organization requires its board of directors to disclose any potential conflicts of interest on an annual basis. The board as a whole is charged with monitoring the policy on a regular and consistent basis, and determining whether any conflicts exist. In addition, the chief business officer is involved in monitoring. Should a conflict of interest exist, interested parties are required to recuse themselves from the decision making process, and any subsequent vote.”

“The compensation of the President is determined following a review and approval by the independent members of the executive committee of the board of trustees. Presidential salaries of comparable not-for-profit schools are analyzed in determining the President's compensation. The process is documented in board and committee meeting minutes and human resources forms. Compensation for other officers is established using comparability data from various sources and is approved by the President. Deliberations occur during the annual performance review process. Final decisions are documented with the human resources office, and employee performance reviews are filed with the President's office.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon written request.”

“Criswell College has been in communication wih the IRS and has been informed that it may not be subject to Form 990 filing requirements. However, the organization has chosen to file Form 990 for transparency purposes.”

“Change in Value of Split Interest Agreements -60,045. Change in Value of Perpetual Trusts -438,977.”

“The Board of Trustees assumes responsibility for oversight of the audit of its financial statements and selection of the independent accounting firm used. This process has not changed since the prior year.”