| FORM 990, PART VI, SECTION A, LINE 2 |
MR. JERRY FALWELL, JR. AND MR JONATHAN FALWELL CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE BROTHERS. MR. JEFFREY F. BENSON AND MRS. GAYE OVERTON BENSON CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE HUSBAND AND WIFE. |
| FORM 990, PART VI, SECTION B, LINE 11 |
THE FORM 990 FOR FY JUNE 30, 2016 WAS PROVIDED BEFORE FILING TO THE CHANCELLOR/PRESIDENT, IN-HOUSE LEGAL COUNSEL, CHIEF FINANCIAL OFFICER, DIRECTOR OF ACCOUNTING AND THE EXECUTIVE COMMITTEE OF THE BOARD (WHICH IS THE GOVERNING BODY OF THE ORGANIZATION BETWEEN BOARD MEETINGS) FOR REVIEW. |
| FORM 990, PART VI, SECTION B, LINE 12C |
THE CFO COLLECTS ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES AND, PURSUANT TO THE BYLAWS, BRINGS ANY DISCLOSED CONFLICTS OF INTEREST TO THE AUDIT COMMITTEE. IF A CONFLICT OF INTEREST ARISES IT IS HANDLED ON A CASE BY CASE BASIS WHERE LEGAL COUNSEL, THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY DECIDE ON THE MOST APPROPRIATE COURSE OF ACTION. RECUSAL FROM ANY DELIBERATIONS AND VOTE CONCERNING MATTERS IMPACTED BY THE CONFLICT WOULD BE THE TYPICAL SOLUTION. |
| FORM 990, PART VI, SECTION B, LINE 15 |
COMPENSATION OF THE CHANCELLOR/PRESIDENT AND OTHER OFFICERS AND KEY EMPLOYEES ARE REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE. COMPARABLE SALARY DATA IS REVIEWED WHEN SALARIES ARE SET AND ADJUSTED TO DETERMINE THE REASONABLENESS OF THE COMPENSATION. COMPENSATION IS FURTHER REVIEWED DURING THE BUDGETING PROCESS. |
| FORM 990, PART VI, SECTION C, LINE 19 |
GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: |
CHANGE IN SPLIT INTEREST AGREEMENT -6,954,047. |
| FORM 990, PART XII, LINE 2C: |
THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. |
Attach to Form 990 or 990-EZ.