Lewis and Clark College

“The college's bylaws establish an executive committee that consists of the board chair, vice chairs, the president, the chairs of the board's standing committees, and other trustees or life trustees who are appointed by the board chair. The executive committee is empowered to act on behalf of the full board between meetings of the board, although the executive committee may not (1) take any action inconsistent with a prior action of the board; (2) appoint or discharge the president, an acting president, or any board member to or from any position; (3) materially amend the annual operating budget or the capital budget of the college; (4) authorize the earned and honorary degrees and diplomas or certificates to be offered and awarded; (5) amend the articles or bylaws of the college or the standing rules of the board; (6) site permanent buildings; (7) borrow money or encumber assets; (8) sell a significant portion of the assets of the college; or (9) take any action that by resolution has been reserved for the full board.”

“All voting trustees are elected or appointed by the board of trustees, except that the presidents of the college of arts and sciences alumni association and law school alumni association are ex officio voting members of the board during their respective terms of service.”

“1. A draft of form 990 is initially reviewed by the associate vice president for business and finance (controller), followed by a secondary review by the vice president for business and finance (treasurer). 2. The audit committee will meet in february or march of each year to review the final draft of form 990. 3. Two weeks prior to this audit committee meeting the business office will forward the electronic public version of the form 990 to the audit committee for review. 4. The full detail of schedule b donors will be made available to the board chair for review in hard copy. 5. The committee will review the complete form 990 and have the ability to ask questions of the administration and the college's tax consultants. 6. Following the audit committee meeting the electronic version of the public form 990 will be sent to each trustee. Trustees will have the ability to ask questions by email or by phone.”

“A board member or board committee member shall be considered to have a conflict of interest if: (1) such board or committee member has existing or potential financial or other interests which impair or might reasonably appear to impair such person's independent judgment in the discharge of his or her responsibilities to the college; or (2) such person is aware that a member of his or her family, or another organization in which such person is an officer or director or is otherwise involved, has such existing or potential conflict of interest. All board or committee members shall disclose to the board or to the committee any possible conflict of interest at the earliest practicable time and, if the matter is uncertain, may request the board or committee to resolve the questions by majority vote. Annually all members of the board of trustees are asked to sign a conflict of interest disclosure statement. No board or committee member shall vote on any matter under consideration at a board or committee meeting in which such person has a conflict of interest. The minutes of such meetings shall reflect that a disclosure was made and that the person having a conflict of interest abstained from voting. Annually each officer of the college is required to review the college's code of ethics, which includes our conflict of interest policy, and acknowledge compliance.”

“The college is governed by an independent board of trustees. The board is responsible for the appointment, evaluation and compensation of the president of the college. The board has established a compensation committee, which consists of three to five independent trustees appointed by the chair of the board, plus the chair of the board as an ex officio member. The committee annually evaluates the president and determines the president's compensation, taking into account annual survey data from peer institutions. This process was undertaken in 2017 and was completed prior to the beginning of the new president's term in september 2017. The committee also annually reviews compensation of the college's vice presidents and deans, which it did in fall 2017. The compensation for the vice presidents and deans of the college is determined by the president. When setting compensation, the president considers compensation surveys of similar peer institutions, as well as internal compensation data. Information regarding the compensation of vice presidents and deans is required by board policy to be shared annually with the board of trustee's compensation committee.”

“The form 990 is made available to the public on the college's website and upon request. In lieu of form 1023, a letter from the irs dated june 3, 2002 acknowledging the organization's tax exempt status under section 501(c)(3) of the internal revenue code is made available to the public on the organization's website.”

“The college's governing documents (corporate by-laws) and the audited financial statements are made available to the public on the organization's website. The college's conflict of interest policy is made available to the public upon request.”

“Change in value of split interest agreements 241,544. Change in value of swap agreements 2,226,593.”