President-Board of Trustees Santa Clara College

“The board of trustees has delegated the review of the form 990 to the audit committee. The organization's controller's office worked closely with the outside accounting firm it engaged to prepare the return. Information for the return was also obtained through discussions with senior administration and the general counsel. The audit and risk oversight committee also met with the controller's office and the accounting firm hired to prepare the form 990 and the return was accepted. The final draft was provided to the entire voting board before the return was filed.”

“The board of trustees has a conflict of interest policy as part of the bylaws. The assistant treasurer is responsible for monitoring potential conflict of interest. Annually, a questionnaire is sent to the board of trustees, officers and key employees asking for any possible business or personal connection to the organization that may cause a potential conflict. The procedures for addressing any conflict of interest includes, but is not limited to, the following: (1) the conflicting interest is fully disclosed to the president and board; (2) the interested person responds to factual questions related to the substance of the transaction or arrangement being considered, after which he/she shall leave the meeting; (3) the person with the conflict of interest is excluded from the discussion and approval of such transaction; (4) alternatives to the proposed transaction are investigated, competitive bids or comparable valuations are obtained; (5) the transaction or action must be approved by a majority of disinterested persons.”

“The executive committee of the board of trustees has the authority to review and determine the president's compensation. Discussions of the president's compensation were documented in the minutes of meetings of the executive committee. The compensation of the provost and vice presidents are determined by the president. Other key employees' compensation is determined by the respective vice president or provost. In all cases, comparable data from similar organizations and positions were used to determine compensation levels. This information comes from independent survey data. Each employee's compensation is documented in their respective personnel files and they are personally notified of any changes in compensation.”

“While federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available for public inspection, the organization makes its conflict of interest policy available upon request. The organization's financial statements are available to the public on the organization's website.”

“Santa clara university is a catholic and jesuit institution that makes student learning its central focus, promotes faculty and staff learning in its various forms, and exhibits organizational learning. Student learning takes place at the undergraduate and graduate level in an educational environment that integrates rigorous inquiry and scholarship, creative imagination, reflective engagement with society, and a commitment to fashioning a more humane and just world. As an academic community, we expand the boundaries of knowledge and insight through teaching, research, artistic expression, and other forms of scholarship. It is primarily through discovering, communicating, and applying knowledge that we exercise our institutional responsibility as a voice of reason and conscience in society, we offer challenging academic programs and demonstrate a commitment to the development of: 1) undergraduate students who seek an education with a strong humanistic orientation in a primarily residential setting. 2) graduate students, many of them working professionals in silicon valley, who seek advanced degree programs that prepare them to make significant contributions to their fields. In addition to these core programs, we also provide a variety of continuing education and professional development opportunities for non-matriculated students.”

“Loss on uncollectible pledges -91,779. Actuarial changes to split interest agreements 740,691.”