FORM 990, PART VII, SECTION A: |
THE FOLLOWING BENEDICTINE MONKS ARE COMPENSATED EMPLOYEES BUT DO NOT RECEIVE A W-2, AS ALL COMPENSATION EARNED IS TRANSFERRED DIRECTLY TO THE SAINT VINCENT ARCHABBEY: BROTHER NORMAN HIPPS, O.S.B. ($293,935) REV. WARREN MURRMAN, O.S.B. ($23,894) REV. EDWARD MAZICH, O.S.B. ($88,167) RT. REV. DOUGLAS R. NOWICKI, O.S.B. ($33,806) REV. THOMAS ACKLIN, O.S.B. ($49,365) BROTHER DAVID CARLSON, O.S.B. ($94,686) REV. PATRICK CRONAUER, O.S.B ($86,768) REV. JEAN-LUC ZADROGA, O.S.B ($29,694) |
FORM 990, PART VI, SECTION A, LINE 2 |
MR. CHARLES J. QUEENAN, JR. IS THE FATHER-IN-LAW OF MS. JERI ECKHART QUEENAN. CURRENT BOARD MEMBERS HON. MAUREEN LALLY-GREEN, ESQ. AND MR. JAMES F. WILL BOTH SERVE ON THE BOARD OF FEDERATED FUNDS. MR. J. CHRISTOPHER DONAHUE, CHAIRMAN, IS THE PRESIDENT AND CEO OF FEDERATED INVESTORS, INC. CURRENT BOARD MEMBER ATTY. JOSEPH C. BARTOLACCI SERVES ON THE BOARD OF FEDERATED INVESTORS OF WHICH MR. J. CHRISTOPHER DONAHUE, CHAIRMAN, IS THE PRESIDENT AND CEO. |
FORM 990, PART VI, SECTION A, LINE 7A |
GOVERNANCE OF THE CORPORATION IS ENTRUSTED TO THE MEMBERS OF THE CORPORATION AND THE BOARD OF DIRECTORS. THERE ARE SEVEN MEMBERS OF THE CORPORATION, AND THEY ARE A SELF-PERPETUATING GOVERNING BODY. THE MEMBERS OF THE CORPORATION MUST BE MEMBERS OF THE BENEDICTINE SOCIETY - SAINT VINCENT ARCHABBEY. THE MEMBERS ARE THE LEGAL GOVERNING BODY OF THE CORPORATION BUT HAVE DELEGATED TO THE CORPORATION'S BOARD OF DIRECTORS RESPONSIBILITY FOR MOST ACADEMIC AND OPERATIONAL MATTERS. |
FORM 990, PART VI, SECTION A, LINE 7B |
MEMBERS OF THE CORPORATION ARE REQUIRED TO APPROVE DEBT, NEW CONSTRUCTION AND MAJOR CHANGES IN MISSION. |
FORM 990, PART VI, SECTION B, LINE 11B |
THE BOARD DELEGATED THE COMPLETE REVIEW OF THE FORM 990 WITH ALL REQUIRED SCHEDULES TO THE FINANCE COMMITTEE AND TO THE CHAIRMAN OF THE BOARD. FORM 990 WAS PRESENTED AT THE MARCH 2019 MEETING TO ALL FINANCE COMMITTEE MEMBERS WITH AN INDEPENDENT REVIEW BY THE CHAIRMAN. THE REMAINING BOARD MEMBERS ARE PROVIDED A COPY OF THE FORM 990 EXCLUDING SCHEDULE B. |
FORM 990, PART VI, SECTION B, LINE 12C |
ALL NEW BOARD MEMBERS UNDERGO A VETTING PROCESS BY A BOARD COMMITTEE TO ASCERTAIN IF ANY POTENTIAL CONFLICT OF INTEREST EXISTS BETWEEN THE MEMBER AND THE COLLEGE CORPORATION. BOARD MEMBERS ARE REVIEWED ON AN ANNUAL BASIS TO ENSURE THAT THEY ARE ADHERING TO OUR CONFLICT OF INTEREST POLICY. ADDITIONALLY, MANAGEMENT REGULARLY AND CONSISTENTLY REVIEWS ALL SIGNIFICANT BUSINESS CONTRACTS TO DETERMINE THAT WE ARE COMPLIANT WITH OUR CONFLICT OF INTEREST POLICY. QUESTIONNAIRES ARE SENT OUT FROM THE PRESIDENT'S OFFICE ON AN ANNUAL BASIS TO ALL OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES AND LEGAL COUNSEL REVIEWS. |
FORM 990, PART VI, SECTION B, LINE 15 |
THE ARTICLES OF INCORPORATION PROVIDE FOR AN EXECUTIVE COMPENSATION COMMITTEE TO RECOMMEND TO THE BOARD OBJECTIVES FOR THE PRESIDENT OF THE COLLEGE, VICE PRESIDENT FOR FINANCE OF THE COLLEGE/TREASURER OF THE CORPORATION, THE VICE PRESIDENT FOR ACADEMIC AFFAIRS AND ACADEMIC DEAN AND THE EXECUTIVE VICE PRESIDENT AND RECOMMEND POLICIES, STRATEGIES AND PAY LEVELS NECESSARY TO SUPPORT THE COLLEGE'S OBJECTIVES. THE COMMITTEE COMPILES COMPARATIVE DATA FROM OTHER COLLEGES OF SIMILAR SIZE (CHRONICLE OF HIGHER ED, IPEDS, CUPA-HR). THE COMMITTEE MAY ALSO, IF APPROPRIATE, SELECT INDEPENDENT COMPENSATION CONSULTANTS TO ADVISE THE COMMITTEE. HR DIRECTOR KEEPS A FILE WITH MINUTES OF MEETINGS AND WORKSHEET USED TO ANALYZE COMPENSATION DATA. |
FORM 990, PART VI, SECTION C, LINE 19 |
FORM 990 IS AVAILABLE UPON REQUEST. |
FORM 990, PART XI, LINE 2C: |
THE TREASURER, ASSISTANT TREASURER AND CONTROLLER WORK WITH THE FINANCE & AUDIT COMMITTEE CHAIR TO SELECT AND ENGAGE OUR INDEPENDENT AUDITORS SUBJECT TO COMMITTEE APPROVAL. THE RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT FIELD RESTS WITH MANAGEMENT. THE CHAIR OF THE FINANCE AND AUDIT COMMITTEE IS KEPT CURRENT WITH THE AUDIT AS IT PROGRESSES BY BOTH MANAGEMENT AND THE INDEPENDENT ACCOUNTANTS. THE INDEPENDENT ACCOUNTANTS ALSO PRESENT THE ANNUAL FINANCIAL RESULTS TO THE FINANCE AND AUDIT COMMITTEE FOR DISCUSSION AND APPROVAL. |