| FORM 990, PART VI, SECTION A, LINE 1A: |
AS PROVIDED IN ARTICLE VII, SECTION 6 OF THE BY-LAWS, THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE PRESIDENT OF THE UNIVERSITY, THE CHAIR AND VICE CHAIR OF THE BOARD OF TRUSTEES AND ALL CHAIRPERSONS OF STANDING COMMITTEES, THE CHAIR OF THE BOARD OF TRUSTEES SHALL BE THE CHAIR OF THE EXECUTIVE COMMITTEE. THE CHAIR, AFTER CONSULTATION WITH THE PRESIDENT, MAY APPOINT ANY OTHER MEMBER OF THE BOARD TO SERVE ON THE EXECUTIVE COMMITTEE. THE COMMITTEE'S RESPONSIBILITIES SHALL INCLUDE THE FOLLOWING: 1. BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, SUPERVISING THE GENERAL PROPERTY AND BUSINESS AFFAIRS OF THE UNIVERSITY EXCEPT, THAT UNLESS SPECIFICALLY EMPOWERED BY THE BOARD OF TRUSTEES TO DO SO, IT MAY NOT TAKE ANY ACTION INCONSISTENT WITH A PRIOR ACT OF THE BOARD OF TRUSTEES, ALTER BY-LAWS, REMOVE OR APPOINT THE PRESIDENT OF THE UNIVERSITY OR TAKE ANY ACTION WHICH HAS BEEN RESERVED TO THE BOARD; 2. CONVENING THE COMMITTEE UPON THE CALL OF THE CHAIR OR, ON THE REQUEST OF THE PRESIDENT, OR ON THE REQUEST OF AT LEAST THREE (3) MEMBERS OF THE COMMITTEE; AND 3. REPORTING TO THE BOARD ALL ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE SINCE THE LAST MEETING OF THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 11B: |
THE FORM 990 IS PREPARED BY A NATIONALLY RENOWNED ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. A COPY OF THE DRAFT FORM 990 IS CIRCULATED TO THE FULL BOARD OF TRUSTEES FOR DISCUSSION AND COMMENT. EACH BOARD MEMBER IS PROVIDED AMPLE OPPORTUNITY TO COMMENT ON THE INFORMATION CONTAINED IN THE FORM 990 PRIOR TO ITS ELECTRONIC FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C: |
EACH TRUSTEE OF THE UNIVERSITY IS REQUIRED UPON APPOINTMENT AND ANNUALLY TO DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT, BOARD SERVICE, OR POSITION WITH THE UNIVERSITY. THE UNIVERSITY MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS BY THE SECRETARY OF THE BOARD. THE SECRETARY PROVIDES A COPY OF ALL COMPLETED STATEMENTS TO THE CHAIR OF THE AUDIT, COMPLIANCE AND RISK COMMITTEE AND THE CHAIR OF THE BOARD. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. SHOULD A POTENTIAL CONFLICT ARISE, THEY ARE REVIEWED BY THE AUDIT, COMPLIANCE AND RISK COMMITTEE, WHICH WILL ATTEMPT TO RESOLVE ANY ACTUAL OR POTENTIAL CONFLICT AND, IN THE ABSENCE OF RESOLUTION, WILL REFER THE MATTER TO THE BOARD OF TRUSTEES FOR RESOLUTION. |
| FORM 990, PART VI, SECTION B, LINE 15A: |
THE UNIVERSITY UNDERTAKES A THOROUGH PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION IT PAYS TO ITS TOP MANAGEMENT OFFICIAL IS REASONABLE GIVEN THE MARKET IN WHICH THE UNIVERSITY OPERATES. IN RELEVANT PART, THE BOARD OF TRUSTEES HAS ESTABLISHED A COMPENSATION COMMITTEE OF INDEPENDENT PERSONS THAT HAVE NO PERSONAL INTEREST IN THE PROPOSED COMPENSATION AGREEMENT. CONTEMPORANEOUS SUBSTANTIATION FOR THE COMPENSATION REVIEW IS WITH THE COMPENSATION COMMITTEE MINUTES WHICH INCLUDES THE USE OF COMPARATIVE DATA AVAILABLE IN THE MARKET. THE PROCESS WAS MOST RECENTLY PERFORMED IN MAY 2023. |
| FORM 990, PART VI, SECTION C, LINE 19: |
THE ORGANIZATION DOES NOT ORDINARILY MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC, HOWEVER IF REQUESTED WILL BE PROVIDED AT MANAGEMENT'S DISCRETION. |
| FORM 990, PART XI, LINE 9: |
CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION ($250,469) |
Attach to Form 990 or 990-EZ.