Linfield University

“Before filing of the college's tax return, the return (form 990) and supplemental schedules and information, are forwarded to the Audit Committee for review, comments, and approval, including schedule B. After the approval and before the return is filed, a copy is posted to the Trustee's website to be available for review by each member of the Board of Trustees, excluding schedule B. The information that is included in and reported on in schedule B is provided to the full Board of Trustees confidentially at its regular meetings. After the return is posted to the full Trustee's website, ample time is allowed for comments and changes, if any, prior to the extended due date of the return. Any material changes in the approval by the Audit Committee.”

“Conflicts of Interest policies and questionnaires are disbursed, collected and reviewed annually. Any apparent conflicts, are reviewed for materiality and mitigating controls in place then forwarded to the college's Audit Committee for further review and action as deemed necessary.”

“The process for determining the compensation of the President of the College is completed periodically based on the direction and review of the Executive Committee of the Board of Trustees. Data collection is performed by Linfield's Director of Human Resources via survey of comparable institutions. The data is analyzed and reviewed by the Executive Committee of the Board of Trustees who determines the President's compensation. The process for determining compensation for officers and key employees is also completed periodically by the Director of Human Services utilizing published comparability data. The data is analyzed and reviewed by the President of the College.”

“Linfield College's financial statements and conflict of interest policy are available on the College's website and by request. Each year, a conflict of interest questionnaire is issued to all trustees, officers, key employees and faculty. The College has not previously had requests for copies of its governing documents. We would, however, provide them if requested to do so.”

“Taxpayer originally understated Retirement and Other Deferred Compensation on Sch J and 990 Part VII. Taxpayer also corrected 990 Part VIII line 2a to gross up revenue and itemize financial aid expense on lines 2 & 3 of 990 Part IX, and further report financial aid on Sch F Part III for foreign students and Sch I Part III for domestic students. 990 Part IX has been amended to break out the expenses by function. Sch B has been amended to include all donors whose gift value exceeds $5,000.”

“Other expenses relate to auxiliary enterprise costs consisting of food service, residence life, bookstore operations and conference hosting and payments on obligations for split interest agreements.”

“Change in Value of Split Interest Agreements: $104,395; From Accrual to Cash contributions receivable: ($1,023,329); Includes rounding adj”