Northwest Nazarene University Inc

“The full board of trustees comes together twice each year, in october and marc for matters that come up in between these two meetings, the board has established an executive committee to act on its behalf. The executive committee consists of the chairperson, the vice-chairperson, the secretary of the board, and five other persons elected from among the members of the board of trustees. Representation includes four lay representatives and four ministerial representatives, at least one district superintendent, and at least one pastor. The president of the university is a non-voting, ex-officio member of the executive committee. The executive committee has authority to act for the university when the board of trustees in not in session. In addition, the executive committee oversees the work of board committees and serves as the personnel committee of the board of trustees. Notwithstanding the above, the following matters are reserved for the board of trustees unless delegated to the executive commitee: presidential selection and termination; changes in institutional mission and purpose; changes to the articles of incorporation and/or bylaws; incurring corporate indebtedness; sale of university real property; adoption of the annual budget; conferral of degrees; and other powers expressly reserved to the board of trustees. The executive committee regularly reports its actions to the board of trustees.”

“The district assemblies on the northwest usa region of the church of nazarene shall elect, consistent with the articles of incorporation and the bylaws of the university, the board of trustees.”

“Any proposed amendments to the university's articles of incorporation must be ratified by a majority vote in two-thirds of the district assemblies in the northwest usa region.”

“Once the form 990 has been prepared by the university's accounting firm, it is reviewed by the controller and the vp for finance (cfo) for any missing and/or inaccurate numbers, statements, etc. When management is satisfied that it is accurate and complete, an electronic copy of the form and all schedules is emailed to the individuals on the audit committee for their review. If the timing is such that it can be readily reviewed at a regularly-scheduled board meeting, the audit committee discusses any questions they have with management and/or the accounting firm at the meeting. When all questions have been answered to their satisfaction, all other trustees receive an electronic copy of the return before it is electronically filed with the irs. If the timing does not coincide with a regularly-scheduled board meeting, the members of the audit committee direct any questions they have to the controller and/or cfo either individually via email or telephone or a telephone conference call meeting is held at which all of the committee can discuss any questions they have.”

“Each member of the board of trustees shall, annually, sign a statement certifying that they have read, understand, and agree to comply with the conflict of interest policy. If there are any exceptions, they are required to state them and excuse themselves from voting on any business related to the area of conflict. Additionally, any employees who report directly to the president or a vice president shall sign the same statement, also noting any exceptions.”

“The university president's salary is determined annually by the executive committee of the board of trustees. They use comparative position and salary data from other universities of similar size and demographics, such as schools within the council for christian colleges & universities (cccu) and the university's seven sister nazarene universities. Their recommendation is then taken to the full board of trustees for their approval. Detailed minutes are kept of all meetings of both the executive committee and the board of trustees. This process was last undertaken in 2020, for joel pearsall, president. The salaries of the other officers are determined annually using comparative position and salary data from other universities of similar size and demographics. This process is directed and undertaken by the president. Compensation recommendations made by the president is reported to governance and is determined within the established budgetary process of the university. This process was last undertaken in 2019, upon the hiring of steven emerson, vpfo.”

“The university makes its governing documents, conflict of interest policy, and audited financial statements available to the public upon request. They are available for review during regular business hours and a copy can be otained within a reasonable time period. The requestor may be required to pay the costs of reproducing the copies, if needed.”

“Change in present value of trusts and annuities 389,397.”

“This process has not changed from prior year.”