| Form 990, Part III, Line 4d: Other Program Services Description |
OTHER PROGRAM SERVICES 4: Other Programs include our Conference Ministries and various programs that support our mission. |
| Form 990, Part VI, Line 1a: Explanation of Delegated Broad Authority to Committee |
Article IX, Section 1 of the By-Laws provides that there shall be an executive committee with broad authority to act on behalf of the governing body during the intervals between meetings of the Board of Trustees. The executive committee shall consist of not less than three nor more than seven members of the Board of Trustees, who shall at the meeting of Trustees at which officers of the Corporation are elected for the ensuing year, be elected by the affirmative vote of a majority of the entire Board of Trustees, for the same term for which officers are elected, subject to removal at any time by the affirmative vote of two-thirds of the Trustees. |
| Form 990, Part VI, Line 11b: Form 990 Review Process |
The 990 is reviewed by the Audit Committee of the Board of Trustees. The Audit Committee reports to the board its findings. The entire board is also presented with a copy. This happens prior to the return being filed with the IRS. |
| Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts |
All officers, trustees and key employees complete a conflict of interest questionnaire each year. These questionnaires are reviewed by our General Counsel and action is taken if conflicts need to be resolved. We would take steps to make sure any transaction where there are potential conflicts are at arm's length and the affected officers, trustees, and key employees are not involved in the decision making process. |
| Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management |
Several years prior, consultants were used to establish benchmarks for officer salary levels. Since 2009 Moody has annually reviewed the 990 salary information of comparable institutions to set benchmarks for this purpose. Information is accessed for the following positions: President, COO, CFO, Chief Educational Officer and Chief Development Officer. We typically look at 7-10 higher education institutions, some of which are competitors to Moody. We choose institutions of comparable mission and size (based upon total expenses). We look at 3-4 parachurch organizations as well. This data is used as a salary administration benchmark. To increase its applicability, the data is adjusted for cost of living differences (based upon the location of the other institutions) in relation to the cost of living in the greater Chicago area.Following this analysis, which is provided for review by the Compensation Committee of the Board in the fall of each calendar year, the President's salary increase recommendations are based upon Institute salary guidelines for the fiscal year(which reflect trends in national average salary increases) and upon job performance. The Compensation Committee can either approve or disapprove the President's recommendations. Increases for officers and other key employees are scheduled for November of each year, so that the financial condition and performance of the institution at the close of the prior fiscal year can be taken into account.The President's salary increase is scheduled at the same time and is set by the Board (in the context of the data provided and the current fiscal year salary guidelines for the Institute). |
| Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees |
See note under compensation for CEO and top executives. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
Audited Financial Statements and 990s and 990Ts are available on our website as well as through the mail by request. We also make available upon request our By-laws and Conflict of Interest Policy. |
| Other Changes In Net Assets Or Fund Balances - Other Decreases |
Change in Value of Pension Obligation = -$6300271 |
| Other Changes In Net Assets Or Fund Balances - Other Increases |
Change in Value of Postretirement Health = $1881306 |
| Other Changes In Net Assets Or Fund Balances - Other Decreases |
Change in value of Split Interest Agreements = -$4798945 |
Attach to Form 990 or 990-EZ.