University of the Pacific

“The executive committee is empowered to act for the board between regular board meetings on all matters except the following, which shall be reserved for the board: (i) presidential selection and termination, (ii) board member and board officer election, (iii) changes in mission and purposes of the institution, (iv) amendments to the articles of incorporation and bylaws, (v) incurrence of corporate indebtness, (vi) acquisition, sale and other disposition of real estate, except the acquisition, sale or other disposition of real estate which meets certain conditions set forth in board policy, (vii) adoption of the annual budget, and (viii) conferral of degrees. In addition to its authority to take action on emergency matters that cannot or should not be deferred to the next scheduled meeting of the board, the executive committee shall: (i) oversee the work of the board committees, (ii) periodically review the bylaws and recommend any appropriate changes to the board, and (iii) support the president, and annually evaluate his or her performance, compensation and conditions of employment.”

“The full Board of Regents of the University annually reviews the IRS 990 prior to filing using the following process: - A draft of the return is electronically submitted to the Board Audit Committee for review. The Audit Committee Chair then sends comments and questions to the Chief Financial Officer for resolution. - The Chief Financial Officer summarizes the Audit Committee's questions in writing and submits the explanations and a draft of the return to the full Board for any further comment. - Board members send comments and questions to the Audit Committee Chair. The Chair forwards questions to the Chief Financial Officer for resolution. - The Chief Financial Officer summarizes the Board's questions in writing and submits the explanations to the Audit Committee Chair for any further comment. - The return is finalized and filed with the IRS.”

“The University regularly and consistently monitors and enforces compliance with its written conflict of interest policy. Each year, all Board of Regents members and key employees identified by the Board's Audit Committee, inclusive of those reported as Board members, officers, key employees, highly compensated employees and former key and/or highly compensated employees in this IRS 990, are required to complete and sign a conflict of interest survey. Surveys are submitted confidentially to the Director of Internal Audit for review. All individuals surveyed are required to sign an annual disclosure of any direct or fiduciary relationships that they (or members of their family) maintain with organizations that do business with the University which could be reasonably construed to affect their independent, unbiased judgment in light of their decision-making authority or responsibility. These individuals ("covered persons") affirm they: - Have received a copy of the conflict of interest policy; - Have read and understand the policy; - Agree to comply with the policy: and - Have disclosed any direct or indirect financial interest relationship. Any potential conflicts are addressed through further discussion with the respondent and resolved and disclosed as appropriate. If the Director of Internal Audit has reasonable cause to believe a Covered Person has failed to disclose actual or possible conflicts of interests, he or she shall inform the person of the basis for such belief and allow the Covered Person an opportunity to explain the alleged failure to disclose. Covered Persons who have declared or been found to have a conflict of interest must refrain from participation in the consideration of proposed transactions, unless for special reasons the Board or administration requests clarifying information or interpretation. Persons with conflicts may not vote or be present at the time of a vote. If after such notice and opportunity to disclose is provided, the Chair of the Audit Committee determines that a failure to make the required disclosure continues, the matter is referred to the Audit Committee of the Board of Regents, who review the matter and if it is determined that there is a conflict refers the matter to the full board of regents, which takes the necessary action to mitigate the conflict to protect the interest of the University. In addition, the University separately surveys all board members, officers, key employees, highly compensated employees and former key and/or highly compensated employees as part of the annual IRS 990 review process to inform the answers to conflict of interest and governance.”

“The university's board of regents is responsible for reviewing the performance of the president and setting the president's compensation upon the recommendations of the board's executive committee and human resources committee. The human resources committee is appointed by the board to provide oversight of executive compensation; review university compensation plans that guide the compensation of university employees; and provide insight, oversight and foresight in matters of talent and culture. The human resources committee provides a recommendation to the executive committee on a compensation package for the president that is appropriately competitive in light of benchmark data and the president's performance. Each year, the human resources committee, composed of three to four nonemployee members of the board, is formed to study and make presidential compensation recommendations to the executive committee. In accordance with the bylaws (article iv), the executive committee conducts a performance review of the president and reviews the recommendations of the human resources committee. The executive committee then makes a recommendation to the full board as to the compensation package for the president. The full board, after consideration of the recommendations of the human resources committee and executive committee, then approves and adopts the compensation package for the president. The president, as a member of the board of regents, is recused from all compensation discussions, and is not involved in any decisions of the executive committee or the board. The human resources committee, executive committee and full board base their recommendations and decision (as applicable) on the following: consultations with and reports of independent compensation consultants working at the direction of the human resources committee which include, among other information, studies of the annual salaries of presidents of comparable institutions as reported in the compensation survey by the association of independent california colleges and universities (aiccu) and studies of the annual salaries of presidents of comparable institutions as reported in the compensation surveys by the college and university personnel administrators (cupa). The human resources committee, executive committee and board of regents minutes document each group's recommendation or approval of the compensation for each year.”

“The board of regents is responsible for establishing the conditions of employment for other key institutional officers who serve under the direction of the president, including the provost, the vice presidents and other key employees. Working through its human resources committee, the board reviews university compensation plans that guide the compensation of university employees. The human resources committee provides oversight of executive compensation by recommending to the board which senior university officers and other key employees other than the president should be subject to the board's review and then the committee ensures that the salary ranges for these positions, and the procedures used by the university in determining their compensation, meet applicable tax, accounting, and legal requirements and enable the university to recruit and retain superior talent in these positions. The human resources committee further directs the university in the retention of a qualified independent compensation consultant to provide comparative market information on compensation and benefits for the president and other key employees, and to advise the committee on compensation trends and regulatory compliance issues. The human resources committee reviews and provides guidance to the president regarding compensation philosophies and plans that guide the compensation of university employees each year, the president reviews the most recent report by the university's independent compensation consultant, along with, as appropriate, annual compensation surveys prepared by the association of california colleges and universities (aiccu) and the college and university personnel administrators (cupa), in order to establish comparable rates of pay for similarly-sized private institutions. Compensation for other key employees is established by the provost or vice president with oversight responsibility for the related school or division, using the above sources along with other sources relevant to the responsibilities of the school or division key employee position. Performance reviews, along with any merit and equity salary adjustments, were completed during the fiscal year ended 6/30/22.”

“The University's conflict of interest policies and audited financial statements are posted on its website, www.pacific.edu. The governing documents are not made publicly available except to the extent that they appear as attachments to Forms detailed in response to question number 18, in which case they would be provided upon request to the Office of General Counsel, University of the Pacific, 3601 Pacific Avenue, Stockton, CA 95211. Certain governing documents, including the University's Articles of Incorporation, are on file with the State of California.”

“The University does not track hours worked by Trustees, Officers, Key Employees, and Highest Compensated Employees. Full-time exempt employees of the University are expected to work no less than 40 hours per week. Amounts provided in Part VII are based upon University estimates.”

“OTHER REVENUE - Total Revenue: 6509779, Related or Exempt Function Revenue: 6375984, Unrelated Business Revenue: 133795, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0;”

“On April 9, 2020, the Secretary of Education, Betsy DeVos, announced the availability of CARES Act funding for emergency financial aid grants to students of University of the Pacific (and other colleges and universities nationwide). The federal government passed legislation called the Coronavirus Aid, Relief and Economic Security (CARES) Act. The bill builds upon earlier versions of the CARES Act and is intended to be a third round of federal government support in the wake of the COVID-19 public health crisis and associated economic fallout. The bill includes funding for emergency grants for eligible students. In Fiscal Year 2022, The University of the Pacific received $6,016,108 of additional funding which was used to issue individual awards to students for their emergency expenses incurred as a result of the COVID-19 pandemic.”

“The University is fortunate to benefit from the services of volunteers across its numerous schools, departments, and programs, but the University does not formally track this population.”

“(Expenses $ 12,122,587 including grants of $) RESEARCH: INCLUDES EXPENDITURES FOR ACTIVITIES SPECIFICALLY DESIGNED TO PRODUCE HIGH-QUALITY RESEARCH OUTCOMES WHILE PROVIDING HANDS-ON RESEARCH TRAINING TO BOTH UNDERGRADUATE AND GRADUATE STUDENTS.”

“ACTUARIAL GAIN (LOSS) ON TRUST & ANNUITY AND OTHER CHANGES - -867862; Investment return (loss), net of distributions - -65642924;”

“Indirect expenses are not tracked for these programs as we only track university funds transferred to foreign countries to support these programs.”

“The amounts listed in column (f) for the university's investments in central american/caribbean, east asia and the pacific, and europe refer to the fair market value of investments for that particular region, not solely the expenditures for the fiscal tax year ended 6/30/22, as required by the irs.”

“Amounts reported on Part VIII, Line 1f and Schedule B, Part I represent grant and contribution revenue reflected in the audited financial statements.”