University of Denver

“The board of trustees has vested its functions and powers between sessions in an executive committee composed of (a) the chairman, chair elect, vice chairman and secretary, together with the treasurer, if the treasurer is a trustee, (b) those trustees who may from time to time chair the following committees: finance and budget, faculty and educational affairs, student affairs, institutional advancement, building and grounds, trustee affairs, audit, investment, and athletic affairs, and (c) such additional trustees as the chairman may appoint provided.”

“The university's bylaws were amended during the fiscal year. The amendments removes the 15 member limit on the on the board's exectuive committee and provides for annual approval of the executive committee membership by the board. The amendment also clarified that the board chair may appoint non-voting members who are not trustees to standing committees. In addition, the amendments added the university vice-chairs as non-voting ex-officio members of all board committees and clarified that the chancellor is a non-voting ex-officio member of all board committees except for the audit committee.”

“The board of trustees nominates incoming trustees to be recommended for appointment by the united methodist church at their annual conference.”

“Forms 990 and 990-t are prepared by an independent audit firm, cliftonlarsonallen llp, using information provided by management. The forms are then forwarded to management for review. The form is presented to and reviewed by the university's audit committee which has the authority to accept the submission and report to the executive committee or full board of trustees.”

“The university provides all trustees, officers, deans, and directors with a conflict of interest disclosure form annually in accordance with board policy. The disclosure form addresses transactions with interested persons, compensation from related organizations, relationships among trustees and independence of trustees. All disclosures from staff are reviewed by the university's internal audit function and reported to the senior staff and audit committee, if appropriate. All disclosures from trustees are reviewed and reported on the form 990, if appropriate, and disclosed to the university's audit committee.”

“Deliberations and discussions for the chancellor's compensation package are carried on in executive session of the board for which detailed minutes are not prepared. The compensation of the university's chancellor is determined by utilizing data from surveys and other published sources on comparable institutions. The initial compensation is set by the board and reviewed, and adjusted if appropriate, annually by the board. This process last took place in december 2013 for fiscal year 2014. Deliberations and discussions regarding compensation plans for all employees including top management and key employees, except the chancellor (ceo), are contemporaneously documented in the minutes of the annual board meetng that approves the budget for the upcoming year. This process last took place in june 2013 for fiscal year 2014. Compensation for all employees including top management and key employees is reviewed annually as a part of the university's performance and merit process.”

“The university has its board policies and conflicts of commitment and interest, and the financial statements available on the university's website. The organizing documents are available upon request.”

“Actuarial adjustments 2,166,880.”