California Lutheran University

“The form 990 is prepared by an outside cpa firm and reviewed by the controller and vice president of administration & finance. The 990 is posted on an internal website with access given to all board members. The board of regents of the university has delegated the formal review to the administration and finance committee of the board. After the administration and finance committee complete their review, the president of the university signs the 990.”

“The organization requires all board of regents, officers, faculty members and staff to be familiar with the terms of the conflict of interest policy; disclose to the board secretary any possible personal, familial, close or business relationships that reasonably might give rise to a conflict involving the university; and acknowledge by his or her signature that he or she is in accordance with the letter and spirit of this policy. In the case of officers and other designated employees, an annual disclosure will be completed and filed with the office of the vice president for administration and finance. Each member of the staff and faculty not completing an annual affirmative statement must promptly report any perceived or actual conflict of interest to their appropriate senior administrator. The vice president for administration and finance shall review the annual disclosure statements of officers and designated employees and any reported perceived or actual conflicts of interest. Exceptions will be promptly reported to the audit committee of the board at its next meeting. Board of regents shall report to the secretary of the board of regents. After disclosure, such personnel shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon.”

“The compensation for the president is established by the board of regents. Annually, the presidential compensation committee of the board of regents reviews the president's compensation package, market rate information, performance and makes recommendations to the full board for any adjustments to the president's compensation. An independent compensation consultant is utilized on at least a bi-annual basis to analyze current market comparison data. Annually, the president's and vice president of administration and finance's compensation is reviewed by the audit committee of the board of regents to ensure it agrees with the compensation agreements. The compensation of all the vice presidents is established by the president and is based on regional compensation market data, internal data, and job performance. Compensation studies are conducted by the human resources department and/or outside compensation consultants. The assistant vice president for human resources provides the president with the most recent compensation study prior to annual compensation increases to key officers.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public on a request basis.”

“Actuarial adjustment 24,926. Unrelated business income from partnerships 31,188. Unrealized loss on interest exchange agreement -12,798. Rounding -1.”