Azusa Pacific University

“The governing body has delegated broad authority to the Executive Committee. The Executive Committee is composed of Peggy Campbell, Tom Miller, Dan Fachner, Bill Hooper, David Le Shana, Michael Lizarraga, Elizabeth Maring, Don Marshburn, David Poole and Jon Wallace. The scope of the Executive Committee's authority may be found in the bylaws of APU. The bylaws state that, "The Executive Committee, to the extent provided in the Bylaws, shall have all the authority of the Board, except (a) The approval of any action for which the California Nonprofit Corporation Law also requires approval of the members or approval of a majority of all members; (b) The filling of vacancies on the Board or in any committee which has the authority of the Board; (c) The amendment or repeal of Bylaws or the adoption of the new Bylaws; (d) The amendment or repeal of any resolution of the Board, which by its express terms is not so amendable or repealable; (e) The appointment of Committees of the Board or the members thereof." All members of the Executive Committee are also members of the Board of Trustees.”

“President Jon Wallace and Executive Vice President David Bixby, family relationship.”

“Form 990 is prepared by an independent CPA firm and reviewed by the organization's top management. The reviewed Form 990 is then forwarded to the board of directors for review prior to filing.”

“Annually, the Office of the General Counsel has all trustees, officers, and other key employees complete a conflict of interest questionnaire and the General Counsel addresses any disclosed conflicts of interest pursuant to the processes set forth in the University's Policy on Conflicts of Interest. All potential conflicts of interest by administrators, officers or trustees of the institution are brought to the attention of the Chairman of the Board of Trustees and General Counsel for resolution.”

“Any changes to the compensation of the University's CEO and executive officers is approved by the Board of Trustees based on market survey data. Periodically, the University retains the services of an independent compensation consultant to review the compensation of the CEO and executive officers and to report to the Board of Trustees. The compensation of other key employees is reviewed and approved by the executive officer or administrator to whom they report. The process and decisions are recorded for all compensated officers, trustees, and key employees.”

“Available upon request”

“Accretion for Asset Retirement Obligation -41,015. Change in Value of Beneficial Trust Change in Value of Split Interest Agreements 149,637. Endowment Gifts 1,400,393. Unrealized Loss on Interest Rate Swap 17,830.”

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