William Jessup University

“The organization has an Executive Committee that has the broad authority to act on behalf of the full board. The Executive Committee consists of the Chairman, Vice Chairman, Secretary, Treasurer, President and 2 trustees.”

“Clifford Daugherty, Chairman and Jennifer Silva Griffin, Trustee have a business relationship.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990, with Schedule B redacted, is then forwarded to the board.”

“The board expects of itself and its members ethical and businesslike conduct. Board members and Officers must represent unconflicted loyalty to the interests of the entire organization, superseding any conflicting loyalty such as that to advocacy or interest groups and membership on other boards or staffs. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of the committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. To ensure the University operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews are conducted.”

“The executive committee is tasked with the annual performance review and compensation recommendations for the University President. The Board of Trustees shall fix the salary of the President and may fix the salaries of other employees of the Corporation including the other officers. If the Board does not fix the salaries of the other officers, the President shall fix such salaries. The reasonableness of compensation is determined annually using a compensation study for all positions within the University. The board-approved compensation is documented by the Board Chair and notice sent to the Human Resources Department.”

“The Organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“Compensation reported in Part VII, column D and Schedule J, Part II, column B is the amount reported on the individual's W-2, box 1 or 5 (whichever amount is greater) per the IRS instructions. In the case of minister's compensation when box 5 of the W-2 is not applicable, box 1 compensation is used. Employee deferrals to qualified retirement plans are normally captured in box 5, not box 1 of Form W-2. For reporting purposes we have included the minister's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C.”

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 06/30/2019. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $16,831,628 Line 29 - Net assets with donor restrictions 5,839,416 ___________ Total net assets $22,671,044”

“The University has a sub-committee of the board that assumes responsibility for oversight of the audit, its financial statements, and selection of an independent accountant. This process has not changed since the prior year.”