| FORM 990, PART VI, SECTION A, LINE 4 |
IN FEBRUARY 2018, THE BOARD APPROVED A BYLAW CHANGE WHEREBY AN INCUMBENT BOARD CHAIR IS NOW ELIGIBLE FOR REELECTION TO THAT OFFICE. |
| FORM 990, PART VI, SECTION A, LINE 7A |
PER THE BYLAWS, THE BOARD OF REGENTS HAS EX OFFICIO AND ELECTED MEMBERS. FOUR EX OFFICIO MEMBERS SERVE BY VIRTUE OF THEIR POSITIONS FOR SO LONG AS THEY HOLD SUCH POSITIONS: THE COLLEGE PRESIDENT (ELECTED BY THE BOARD OF REGENTS), A REPRESENTATIVE OF THE ELCA (APPOINTED BY THE ELCA PRESIDING BISHOP), AND THE ALUMNI BOARD PRESIDENT AND ALUMNI BOARD PRESIDENT-ELECT (BOTH ELECTED BY THE COLLEGE'S ALUMNI BOARD). ALL OTHER MEMBERS ARE ELECTED BY THE BOARD OF REGENTS, AND ARE SUBJECT TO RATIFICATION BY THE MEMBERS OF THE CORPORATION. |
| FORM 990, PART VI, SECTION A, LINE 7B |
AMENDMENTS TO THE ARTICLES OF INCORPORATION ARE SUBJECT TO APPROVAL OF THE BOARD OF REGENTS AND SUBSEQUENT RATIFICATION BY THE MEMBERS OF THE CORPORATION. |
| FORM 990, PART VI, SECTION B, LINE 11B |
THE COLLEGE PROVIDES PRELIMINARY TAX RETURN INFORMATION VIA SELECTED WORKPAPERS AND A SPECIALIZED TEMPLATE TO THE AUDIT FIRM. THE AUDIT FIRM THEN USES SPECIALIZED PROPRIETARY 990 TAX FORM SOFTWARE TO PERFORM DIAGNOSTICS AND PREPARE A DRAFT OF THE FORM 990 BASED ON INFORMATION PROVIDED TO THEM AND THEIR KNOWLEDGE OF HOW TO COMPLETE THE 990. AFTER RECEIVING THE DRAFT FORM 990 FROM THE AUDIT FIRM, PERSONNEL FROM THE BUSINESS OFFICE REVIEW THE DRAFT, RECONCILING INFORMATION BACK TO SUPPORTING WORK PAPERS WHERE POSSIBLE AND REVIEWING OTHER INFORMATION FOR COMPLETENESS, ACCURACY, CONSISTENCY, AND REASONABLENESS. NEXT, THE PRESIDENT'S CABINET AND THE BOARD'S AUDIT COMMITTEE MEMBERS REVIEW THE DRAFT OF THE FORM 990 FOR COMPLETENESS, ACCURACY, CONSISTENCY, AND REASONABLENESS. FEEDBACK FROM ALL REVIEW IS FORWARDED TO THE AUDIT FIRM, AND THE FORM 990 IS UPDATED ACCORDINGLY. A COPY OF THE FORM 990 (WITH DONOR NAMES REMOVED) IS POSTED TO THE SECURE, CONFIDENTIAL BOARD OF REGENTS WEB SITE, AND AN EMAIL IS SENT TO ALL BOARD MEMBERS NOTIFYING THEM THAT THE 990 IS AVAILABLE FOR REVIEW. FEEDBACK PROVIDED FROM THE BOARD MEMBERS IS REVIEWED AND DISCUSSED WITH INDIVIDUAL BOARD MEMBERS AS NECESSARY AND APPROPRIATE. ALL FEEDBACK THAT REQUIRES A SIGNIFICANT CHANGE TO THE FORM 990 IS PROVIDED IN A SUMMARY FASHION TO ALL BOARD MEMBERS, TO ALLOW ADDITIONAL FEEDBACK OR COMMENTS. THE FINAL APPROVED FEEDBACK IS GIVEN TO THE AUDIT FIRM TO INCORPORATE IN THE FINAL FORM 990. THE BOARD RECEIVES THE FINAL FORM 990 PRIOR TO IT BEING FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C |
THE CONFLICT OF INTEREST POLICY IS REVIEWED, UPDATED, AND APPROVED ANNUALLY BY THE BOARD. BOARD MEMBERS AND KEY EMPLOYEES ARE REMINDED OF THEIR RESPONSIBILITY TO FOLLOW THE CONFLICT OF INTEREST POLICY. BUSINESS OFFICE PERSONNEL ARE FAMILIAR WITH THE VENDORS USED BY THE COLLEGE AND WOULD FOLLOW THE CONFLICT OF INTEREST POLICY IF THERE WERE ANY POTENTIAL TRANSACTIONS THAT WOULD FALL WITHIN THE SCOPE OF THAT POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15A |
THE BOARD OF REGENTS ESTABLISHES COMPENSATION FOR THE PRESIDENT INITIALLY AND ANNUALLY, APPLYING ALL ELEMENTS NOTED IN THIS LINE'S QUERY. THE COMPARATOR GROUP IS LIMITED TO LIBERAL ARTS COLLEGES WITH COMPARABLE ENROLLMENTS, INCLUDING OTHER ELCA RELATED COLLEGES. THE PRESIDENT ESTABLISHES COMPENSATION FOR THE PRESIDENT'S CABINET INITIALLY AND ANNUALLY, APPLYING ALL ELEMENTS NOTED IN THIS LINE'S QUERY. THE COMPARATOR GROUP IS LIMITED TO LIBERAL ARTS COLLEGES WITH COMPARABLE ENROLLMENTS, INCLUDING OTHER ELCA-RELATED COLLEGES. |
| FORM 990, PART VI, SECTION C, LINE 19 |
THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. |
Attach to Form 990 or 990-EZ.