Concordia University Irvine

“The board of regents has granted the authority to the following committees: (1) investment committee charged with the oversight of the university's endowment and, investment allocation decisions, and all custodial concerns related to concordia's financial instruments. (2) finance/audit committee charged with the oversight of the financial management of the university, including the review of external financial reporting and the annual audit process. (3) compensation committee charged with the review and approval of compensation structures relating to faculty, staff, and key employees.”

“The synod holds a convention every three years, which is comprised of lutheran congregations across the united states. A representative of the congregations is appointed who, in turn, votes for four members of the board of regents.”

“The 990 is reviewed by the chief financial officer before it is filed.”

“In their capacity as regents, the members of the board of concordia university irvine must act at all times in the best interest of the university. All actual and potential conflicts of interest shall be disclosed by board members to the appropriate personnel within the university through the annual disclosure form and/or whenever a conflict arises. The disinterested members of the board shall make a determination as to whether a conflict exists and what subsequent action is appropriate (if any). If it is determined that a conflict of interest does in fact exist, the interested board member(s) is/are recused from participating in debates and votes on the matter. Staff and faculty of the organization are regularly required to reaffirm their adherence to and understanding of the need to disclose any potential conflicts of interest.”

“Compensation decisions are subject to review and concurrence by senior members of staff. Comparability data as provided by willis, towers, watson is used as a benchmark, and the methodology of the decision is documented by human resources.”

“The governing documents, conflict of interest, and related documents are available upon request.”

“Other fees: program service expenses 289,422. Management and general expenses 196,197. Fundraising expenses 0. Total expenses 485,619. Enrollment commission: program service expenses 4,314,938. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,314,938. Outside services: program service expenses 1,227,400. Management and general expenses 1,673,636. Fundraising expenses 0. Total expenses 2,901,036. Contracted services - bon appetit: program service expenses 3,161,950. Management and general expenses 82,813. Fundraising expenses 1,523. Total expenses 3,246,286. Contracted services - pacific: program service expenses 0. Management and general expenses 2,585,415. Fundraising expenses 0. Total expenses 2,585,415.”

“Change in value of beneficial interest in split-interest agreements -165,955. Change in value of beneficial interest in perpetual funds 216,566. Change in interest in net assets of concordia university irvine foundation -1,061,782.”