| F990_P06_S0B_L11b |
Form 990, Part VI, Section B, Line 11b |
THE INSTITUTE'S FORM 990 IS PRIMARILY PREPARED BY THE INSTITUTE'S CONTROLLER. ONCE COMPLETED, IT IS THOROUGHLY REVIEWED BY THE SENIOR V.P. OF FINANCE AND THE INSTITUTE'S INDEPENDENT ACCOUNTING FIRM. AFTER REVISIONS ARE MADE, THE FORM IS THEN PRESENTED TO THE PRESIDENT AND FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. AFTER THE FINANCE COMMITTEE COMPLETES ITS REVIEW, THE FORM 990 IS THEN PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL. |
| F990_P06_S0B_L12c |
Form 990, Part VI, Section B, Line 12c |
CONFLICTS OF INTEREST FOR BOARD MEMBERS ARE CLEARLY DEFINED BY THE INSTITUTE'S BOARD OF TRUSTEES POLICY MANUAL. TRUSTEES ARE REQUIRED TO DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST, AND TO ABSTAIN FROM VOTING ON ANY MATTERS, IN WHICH THEY HAVE A CONFLICT OF INTEREST. INDIVIDUAL TRUSTEES, AND MEMBERS OF THEIR FAMILY OR ANY ORGANIZATION IN WHICH A TRUSTEE OR MEMBER OF HIS OR HER FAMILY IS A STOCKHOLDER, MAY NOT HAVE EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS THAT MIGHT IMPAIR THEIR INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF THEIR RESPONSIBILITIES TO THE COLLEGE . THE COLLEGE MAINTAINS A CURRENT COMPLETED CONFLICT OF INTEREST STATEMENT FOR ALL TRUSTEES. THIS REVIEW IS DONE ANNUALLY FOR EACH BOARD MEMBER. THE INSTITUTE'S AUDIT COMMITTEE MONITORS TO ENSURE THAT THERE IS COMPLIANCE WITH THE POLICY. |
| F990_P06_S0B_L15 |
Form 990, Part VI, Section B, Line 15 |
THE BOARD OF TRUSTEE HAS THE OVERALL RESPONSIBILITY FOR THE COMPENATION REVIEW OF THE PRESIDENT. AN ANNUAL REVIEW IS BASED ON FOUR FACTORS, SUMMATIVE PERFORMANCE APPRAISAL, ACHIEVEMENT OF ANNUAL GOALS, MARKET ANALYSIS AND INSTITUTIONAL NEEDS. THE PRESIDENT SUBMITS A STATUS REPORT ON THE CURRENT YEAR'S GOALS, YEAR END RESULTS AND PROPOSED GOALS FOR THE UPCOMING YEAR. THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES , WHICH IS FREE OF CONFLICT OF INTEREST, WILL ALSO RECEIVE APPROPRIATE PEER AND BENCHMARK DATA FROM THE HUMAN RESOURCES OFFICE. THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS WILL REVIEW THE PRESIDENT'S PERFORMANCE AND DISCUSS THEIR CONCLUSIONS ORALLY WITH THE PRESIDENT TO ENSURE THE ACCURATE AND FAIRNESS OF THE JUDGEMENTS. THE COMPENSATION COMMITTEE WILL THEN DISCUSS ITS CONCLUSIONS AND COMPENATION RECOMMENDATION WITH THE PRESIDENT. THE PRESIDENT HAS A WRITTEN EMPLOYMENT CONTRACT. THE PRESIDENT HAS THE OVERALL RESPONSIBILITY FOR THE COMPENSATION REVIEW OF THE VICE PRESIDENTS. A MARKET ANALYSIS IS DONE BY THE HUMAN RESOURCES OFFICE WHICH ALSO INCLUDES PEER AND BENCHMARK DATA. THIS ANALYSIS IS THEN USED AS A TOOL FOR DETERMINING SALARY CHANGES AND IS REVIEWED WITH THE COMEPNSATION COMMITTEE PRIOR TO IMPLEMENTATION. THE COMMITTEE CONTEMPORANOUSELY DOCUMENTS ITS DISCUSSIONS ON THE COMPENSATION ANALYSIS. THE COMPENSATION PROCEDURES MEET THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION: (1) THE COMPENSATION ARRAINGEMENT IS APPROVED IN ADVANCE BY A COMMITTEE FREE OF CONFLICT OF INTERESTS; (2) THE COMMITTEE RELIED ON APPROPRIATE COMPARABLITY DATA; AND (3) THE COMMITTEE ADEQUATELY AND TIMELY DOCUMENTED THE BASIS FOR THE DECISION. |
| F990_P06_S0C_L19 |
Form 990, Part VI, Section C, Line 19 |
THE FORM 990 AND THE ACCOMPANYING FINANCIAL STATEMENTS ARE READILY AVAILABLE TO THE PUBLIC AS REQUIRED. THESE DOCUMENTS CAN BE OBTAINED UPON REQUEST BY THE PUBLIC OR IS READILY AVAILABLE ON THE INTERNET (WWW. GUIDESTAR.COM) . |
| F990_P11_S00_L09 |
Form 990, Part XI, Line 9 |
APPRECIATION IN FAIR VALUE OF DERIVATIVE ( $3,870,349) & COSTS OF DEFEASEMENT OF BONDS ( $-315,941) . RENTAL EXPENSE RECORDED RELATED TO THE SAN ANTONIO GIK LEASE ( $-464,664). THE RENTAL EXPENSE EQUALS THE AMOUNT RECORDED AS REVENUE IN PARTXI, LINE 6 OF SCHEDULE D. THE RENTAL EXPENSEIS A NON-CASH ITEM. |
Attach to Form 990 or 990-EZ.