George Fox University

“Form 990 is prepared by a third-party accounting firm. Finance office staff, the controller and the cfo review the form 990 before filing. The board of trustees finance committee reviews form 990 after filing at their next board meeting.”

“All employees and board of trustee members are required to complete a new conflict of interest form each year. The board of trustee records are monitored & reviewed by the president's office. The employee records are monitored and reviewed by the employee empowerment recruiter. The forms are maintained in the employee empowerment department. Periodically during the time-frame that these forms are sent to employees, the employee empowerment recruiter sends out additional requests to those who have not completed the forms. This includes contacting employees' supervisors when necessary. If a conflict of interest or potential conflict of interest is notated on a form by the employee or trustee, executive director of employee empowerment reviews it. If more information is needed, she contacts the employee or trustee. If, in the director's judgment, it is deemed not to be a conflict of interest, the form is filed and no further action is taken. If a conflict of interest or potential conflict of interest exists, the director gives the form to the evp for finance and operations to review. If necessary, the evp then contacts the employee or trustee or the head of the department that might be impacted by the conflict of interest (if it is an outside business the university might contract with for services or products) to ensure that sound business practices continue to be followed in selecting vendors, etc. Any employees or trustees with conflicts will be prohibited from any deliberations and decisions related to the conflict of interest.”

“For the president of the university: compensation is evaluated and established by the board of trustees. No conflict of interest for members evaluating and reviewing the president's compensation exists. The board reviews and discusses the compensation of other university presidents within the council for christian colleges and universities, specifically, the ones with similar enrollment and student demographics (pell eligibility, etc.), and then adjusts for the cost of living in other regions. - compensation is approved by the board. - discussion within the board regarding compensation issues is documented in the appropriate minutes of those meetings, generally the executive committee of the board. - this process is documented through the transfer of this documentation and email correspondence between employee empowerment office and the president's office. - a contract is completed and signed by a board member and supplied to the employee empowerment office. Changes and/or adjustments to the president's compensation are also communicated via email on behalf of a member of the board. - for this period, the review of the president's compensation package was completed in february 2016. The president's compensation and contract will be completed again in july 2022. For the vice presidents and provost: compensation is evaluated and established by the president of the university. No conflict of interest exists. The president of the university reviews the compensation of other university vice presidents within the council for christian colleges and universities, specifically, the ones with similar enrollment and student demographics (pell eligibility, etc.), and then adjusts for the cost of living in other regions. Cupa-hr survey data is also supplied to the president by employee empowerment for comparison. - individual compensation is negotiated between each vice president and the president of the university. The budget for that compensation is approved as part of the entire university budget by the board of trustees. - a contract is completed for each vice president and signed by the president of the university. - this process is documented through the transfer of this documentation and email correspondence between employee empowerment and the president's office. Current contracts run as follows: chief financial officer - august 2017 through june 2018. Vp of enrollment and marketing - july 2017 through june 2019. Vp of student life - june 2015 through june 2018. Vp of advancement - this position was vacant december 15, 2017 through june 2018. Provost - june 2015 through june 2018.”

“Governing documents and conflict of interest policy are made available on the university's website. Financial statements are not made available to the public.”

“Amended return: the return is being amended to correctly disclose the reportable compensation for two officers.”

“Unrealized gain/loss on interest rate swaps liability 964,259. Change in present value of annuities payable -33,229. Change in present value of charitable remainder trusts -36,617. Write-off of prior year pledges -34,340.”

“Amended return: the return is being amended to correctly disclose the base compensation for two officers.”