Teikyo Loretto Heights University

“The organization is managed by an executive committee comprised of the chairman of the board of members as well as five other members. The chair of the executive committee and the other members of the executive committee are appointed by the chairman of the board of members. The executive committee shall have the authority to make decisions on behalf of the board of members in cases where the board of members cannot meet or between board meetings where immediate decisions must be made.”

“Mr. Yoshihito okinaga and dr. Hiroko okinaga have a business relationship.”

“The form 990 is reviewed by the president of the organization. In addition, a copy of the form 990 is distributed to the entire board of directors for their review and approval prior to filing with the irs.”

“Compensation for all employees of the organization is reviewed and approved by the chairman of the executive board of members when employees are hired and when there are changes in positions. The organization does not do annual increases for their employees. The organization uses salary data from mountain states employers council, college and university professionals association, and other relevant salary surveys to determine compensation amounts. The organization offers compensation in the 10th to 20th percentile for similar positions in the denver metropolitan area.”

“The organization makes its governing documents, conflict of interest policy, financial statements, form 1023, and form 990 available to the public based upon specific requests by individuals or organizations.”

“On october 14, 2016, the university's board of directors adopted a plan to discontinue operations and provide a reasonable opportunity to current students to complete their course of study at the university or provide a transition plan to other accredited institutions. The university entered into a maximum 18-month "teach-out" agreement with the department of education to continue participation, on a provisional basis limited to an orderly close-out of its teaching activities, in student financial assistance programs authorized by title iv of the higher education act. The university completed the teach-out program october 31, 2017. Upon completion of the teach-out program, the organization began the process of winding down and closing the organization. The organization was officially dissolved on july 1, 2019 upon filing the articles of dissolution with the colorado secretary of state. For the remaining months following the dissolution, the organization continued its process of winding down and closing the organization. The organization did not make its final distribution of assets until december 31, 2019.”