2014-03-24T13:02:29-05:00 2013-06-30 420714325 MCGLADREY LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2012-07-01 560529990 PFEIFFER UNIVERSITY PFEI 7044631360 PO BOX 960 MISENHEIMER NC 28109 MICHAEL MILLER 7044631360 2014-03-24 TAMELA L GAINEY P00437957 3362724551 2012 2015-11-30 17:44:51Z MICHAEL MILLER PO BOX 960 MISENHEIMER NC 28109 48188751 0 X WWW.PFEIFFER.EDU X 1938 NC PFEIFFER UNIVERSITY IS A COMPREHENSIVE UNITED METHODIST-RELATED UNIVERSITY, WITH MULTIPLE CAMPUSES AND DELIVERY SYSTEMS, COMMITTED TO EDUCATIONAL EXCELLENCE, SERVICE, AND SCHOLARSHIP. WITHIN NURTURING COMMUNITIES OF LEARNERS, WE VALUE DIVERSITY AND PROMOTE THE ATTAINMENT OF FULL ACADEMIC AND PERSONAL POTENTIAL THROUGH ACCESSIBLE UNDERGRADUATE AND GRADUATE PROGRAMS. IT IS THE VISION OF THE UNIVERSITY THAT OUR STUDENTS EMBRACE THE CHRISTIAN VALUES OF HUMAN DIGNITY, INTEGRITY, AND SERVICE AND BECOME SERVANT LEADERS AND LIFELONG LEARNERS. 26 26 356 79 0 0 2657882 2126464 31335884 31960186 327977 1358078 140144 150633 34461887 35595361 9429083 9002452 0 0 12679163 13356229 0 0 955217 11791148 12271159 33899394 34629840 562493 965521 46220010 48046498 22329359 22297947 23890651 25748551 X PFEIFFER UNIVERSITY IS A COMPREHENSIVE UNITED METHODIST-RELATED UNIVERSITY, WITH MULTIPLE CAMPUSES AND DELIVERY SYSTEMS, COMMITTED TO EDUCATIONAL EXCELLENCE, SERVICE, AND SCHOLARSHIP. WITHIN NURTURING COMMUNITIES OF LEARNERS, WE VALUE DIVERSITY AND PROMOTE THE ATTAINMENT OF FULL ACADEMIC AND PERSONAL POTENTIAL THROUGH ACCESSIBLE UNDERGRADUATE AND GRADUATE PROGRAMS. IT IS THE VISION OF THE UNIVERSITY THAT OUR STUDENTS EMBRACE THE CHRISTIAN VALUES OF HUMAN DIGNITY, INTEGRITY, AND SERVICE AND BECOME SERVANT LEADERS AND LIFELONG LEARNERS. 0 0 19278686 0 31960196 PFEIFFER UNIVERSITY IS A COMPREHENSIVE UMC-RELATED UNIVERSITY WITH MULTIPLE CAMPUSES AND DELIVERY SYSTEMS PROVIDING HIGHER EDUCATION DEGREES THROUGH UNDERGRADUATE, GRADUATE, AND ADULT LEARNER PROGRAMS. 9002452 9002452 SCHOLARSHIPS AND SIMILAR FINANCIAL AID FOR STUDENTS. 28281138 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 220 0 1 356 1 0 0 0 0 0 1 1 0 0 0 0 X 26 26 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JEFFREY PLYLER VP FOR FINANCE 7044633042 PFEIFFER UNIVERSITY HWY 52 MISENHEIMER NC 28109 X DAVID MCILQUHAM 3.00 X X 0 0 0 BENNY MERRELL 2.00 X X 0 0 0 J KEITH CRISCO 1.00 X X 0 0 0 SAMUEL ASBURY 2.00 X 0 0 0 ROBERT BRIETZ 2.00 X 0 0 0 JAMES CASHION JR 1.00 X 0 0 0 ANNE DANIEL 2.00 X 0 0 0 TONY DENNIS 0.50 X 0 0 0 WINSLOW HAYES GALLOWAY 1.00 X 0 0 0 THOMAS GRADY 1.00 X 0 0 0 LAWRENCE GROVES 1.00 X 0 0 0 REV JOY MELTON 2.00 X 0 0 0 REV G SCOTT MIDDLETON 2.00 X 0 0 0 STEVE PUGH 1.00 X 0 0 0 RUSSELL RING 1.00 X 0 0 0 BENJAMIN ROBINSON PHD 1.00 X 0 0 0 MARSHALL ROGERS 1.00 X 0 0 0 A JAMES RUSSELL 1.00 X 0 0 0 DR KENNETH E RUSSELL 1.00 X 0 0 0 C HERBERT SCHNEIDER 2.00 X 0 0 0 JONATHAN T SMITH 1.00 X 0 0 0 ROBERT L TAYLOR JR 1.00 X 0 0 0 RICHARD THAMES 1.00 X 0 0 0 DR ELLIOTT WILLIAMS 1.00 X 0 0 0 DR CHRISTOPHER L BRAMLETT 0.50 X 0 0 0 REV FRANK B COOK 0.50 X 0 0 0 DR MARY ELIZABETH FRANCIS 0.50 X 0 0 0 DR WILLIAM GRIGG 0.50 X 0 0 0 ROBERT H HEROLD II 0.50 X 0 0 0 CARL M HILL 0.50 X 0 0 0 ERNEST KNOTTS 0.50 X 0 0 0 RALPH M MCALISTER 0.50 X 0 0 0 DR RICHARD L PETTY 0.50 X 0 0 0 DR GEORGE E THOMPSON 0.50 X 0 0 0 GEORGE P WATERS 0.50 X 0 0 0 MILDRED CARTER 1.00 X 0 0 0 DONNA I DEBOY 1.00 X 0 0 0 PHILIP HOWARD 1.00 X 0 0 0 ROSEMARIE GENTLE 1.00 X 0 0 0 BISHOP LARRY GOODPASTER 1.00 X 0 0 0 DR PATRICIA MEYERS 1.00 X 0 0 0 REV SAMUEL H MOORE JR 1.00 X 0 0 0 JULIA WILLIS 1.00 X 0 0 0 MICHAEL C MILLER 40.00 X 226266 0 15028 TRACY ESPY 40.00 X 111852 0 10484 ROBIN S LESLIE 40.00 X 81810 0 9024 THAD A HENRY 40.00 X 138854 0 6225 558782 0 40761 3 0 1 0 SODEXO FOOD SERVICE PO BOX 960 MISENHEIMER NC 28109 FOOD SERVICE 957810 SODEXO INC & AFFILIATES PO BOX 536922 ATLANTA GA 30353 MAINTENANCE 873505 STOKES CONSTRUCTION 619 N SECOND STREET ALBEMARLE NC 28001 CONSTRUCTION 356610 VILLAGE OF MISENHEIMER PO BOX 100 MISENHEIMER NC 28109 SECURITY SERVICES 220000 JENZABAR PO BOX 55018 BOSTON MA 02205 TECHNOLOGY 142252 8 36070 275695 1814699 199628 2126464 TUITION AND FEES 611710 26872079 26872079 DORMITORY & HOUSING 611710 2803881 2803881 FOOD SERVICE & VENDING 611710 1660452 1660452 OTHER SOURCES, ATHLETICS & LIBRAR 611710 574611 574611 BOOKSTORE 451211 49163 49163 31960186 553064 553064 151555 0 151555 151555 151555 13378104 12573090 805014 805014 805014 19368 36070 20300 -932 -932 OTHER AUXILIARY INCOME 611710 10 10 10 35595361 31960196 0 1508701 9002452 9002452 622218 499801 122417 10754393 7817350 2596363 340680 5427 4070 1085 272 1071821 883962 153019 34840 902370 676778 180474 45118 9340 9340 74065 74065 139743 139743 427806 427806 266490 199868 37309 29313 899653 689965 183991 25697 845427 676342 126814 42271 3984178 3784519 119795 79864 1058713 794035 158807 105871 27340 21872 4101 1367 401777 401777 1690155 1605647 50705 33803 216825 173460 32524 10841 STUDENT BOARD 1411469 1411469 SPECIAL EVENTS 301048 225786 45157 30105 PROFESSIONAL MEMBERSHIP 92462 73970 13869 4623 BAD DEBT 81400 81400 343268 239593 55540 48135 34629840 28281138 5393485 955217 338566 908772 3056519 3185580 573809 739984 975481 739963 1231794 1395818 126344 111039 391146 159693 43338523 19125063 24839644 24213460 13884612 15270899 802095 1075168 0 246122 46220010 48046498 1628949 1869366 1768303 1762938 439799 396619 14040000 15923238 1345613 1290220 0 650000 3106695 405566 22329359 22297947 X 6332877 7308373 3335728 3957592 14222046 14482586 23890651 25748551 46220010 48046498 X 965521 885141 7238 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15095175 196908 1929240 381316 82764 139743 16617500 15513694 185439 76723 350763 180559 149359 15095175 12981255 260098 2680150 165108 89892 152809 15513694 11843108 464552 1167111 184241 187178 122097 12981255 16054578 326093 -3357293 495533 591748 92989 11843108 0.01180 0.85160 0.13660 0 0 3348276 3348276 32950582 14097181 18853401 5992031 4551515 1440516 1047634 476367 571267 24213460 ANNUITIES PAYABLE 127562 CAPITAL LEASES 230093 SERVICE PROVIDER AGREEMENT 47911 405566 X 27392845 885141 27000 -8995214 -8083073 35475918 139743 -20300 119443 35595361 25534945 27000 20300 47300 25487645 139743 9002452 9142195 34629840 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE USED AS DIRECTED BY DONOR STIPULATION AND APPLICABLE LAWS. THESE RESOURCES FUND SCHOLARSHIPS, MAINTENANCE, AND OTHER PROGRAMS AND INITIATIVES THAT FURTHER THE VISION AND MISSION OF THE UNIVERSITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: PFEIFFER UNIVERSITY IS A TAX-EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). THE CAMPUS IS A SINGLE MEMBER LIMITED LIABILITY COMPANY AND IS THEREFORE DISREGARDED FOR INCOME TAX PURPOSES. MANAGEMENT HAS EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT PFEIFFER HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION. WITH FEW EXCEPTIONS, PFEIFFER IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, AND LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF SCHOLARSHIPS -9,002,452. CHANGE IN VALUE OF ANNUITY 5,194. CHANGE IN CASH SURRENDER VALUE 2,044. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENTS EXPENSES -20,300. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENTS EXPENSES 20,300. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF SCHOLARSHIPS 9,002,452. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE UNIVERSITY INCLUDES THE RACIALLY NONDISCRIMATORY POLICY IN ALL ITS BROCHURES, CATALOGUES AND OTHER WRITTEN COMMUNICATIONS WITH THE PUBLIC THAT RELATE TO STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 EXPENDITURES OF FEDERAL AWARDS: SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT $ 86,443 FEDERAL DIRECT LOAN PROGRAM 14,082,347 FEDERAL WORK STUDY 145,386 PELL GRANT PROGRAM 1,847,184 FEDERAL PERKINS LOAN PROGRAM 404,910 EXPENDITURES OF STATE AWARDS: NC NEED-BASED SCHOLARSHIP PROGRAM $ 1,770,003 NC FORGIVEABLE EDUCATION LOANS FOR SERVICE 19,750 AUCTION 19498 14170 5328 0 0 0 0 0 1025 GOLF TOURNAMENT 35940 21900 14040 0 3187 12100 3988 0 0 55438 36070 19368 3187 12100 3988 1025 20300 -932 1 SCHOLARSHIPS 1078 9002452 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SCHOLARSHIPS ARE MONITORED EACH YEAR BY FINANCIAL AID IN CONJUNCTION/CONSULTATION WITH THE ADVANCEMENT DEPARTMENT. X 1 1 X X X 0 0 0 0 0 0 0 0 0 MICHAEL C MILLER 226266 0 0 0 0 0 0 0 15028 0 241294 0 0 0 PART I, LINE 1A HOUSING ALLOWANCES ARE GRANTED TO EMPLOYEES THAT ARE REQUIRED TO LIVE ON CAMPUS, ARE PART-TIME COACHES, OR IF INCLUDED IN TERMS OF EMPLOYMENT. SUCH ALLOWANCES ARE PROVIDED AS MONTHLY INCOME IN THE AMOUNT OF RENT AND AN ADDITIONAL 25% MARKUP TO COVER ANY TAXES. ANNUALLY, SUCH EMPLOYEES SIGN A RENTAL CONTRACT EACH JULY FOR THE UPCOMING LEASE TERM. PART I, LINE 1B INFORMATION REGARDING THE HOUSING ALLOWANCE IS CONTAINED IN THE EMPLOYEES' OFFER LETTERS. A PUBLIC FINANCE AUTHORITY 273866124 2012-12-21 15923238 CAPITAL PROJECTS & REFUNDING BALANCE ON SERIES 2006 BONDS 0 0 0 A 13180000 15923238 254738 1207000 1281500 2013 1 0 0 0 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 1 0 0 0 0 0 X 2 175 APPRAISAL X 90 DONOR/RECEIPT X 7089 RECEIPT/>$5K APPRAISAL X 10 80458 AVERAGE PRICE X 4 1870 DONOR/RECEIPT X 5 776 DONOR/RECEIPT X EDUC. EQUIPMENT 9 100411 DONOR/RECEIPT/>$5K APPRAISAL X TRAVEL 7 4960 DONOR/RECEIPT/>$5K APPRAISAL X EVENTS/TICKETS/CAMPS 16 3799 DONOR/RECEIPT 0 0 1 1 METHOD FOR DETERMINING NUMBER OF CONTRIBUTIONS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTORS REFERENCED IN PART I, COLUMN B IS REPRESENTATIVE OF THE NUMBER OF CONTRIBUTIONS. THIRD PARTY USE: PART I, LINE 32B: PFEIFFER UNIVERSITY CONTRACTS WITH AN ONLINE AUCTION COMPANY FOR ASSISTANCE WITH THE ANNUAL HOMECOMING AUCTION. THE COMPANY PROVIDES A SPECIFIC WEB ADDRESS WHERE CONSTITUENTS CAN BID ONLINE AND PROVIDE MAXIMUM BIDS PRIOR TO THE LIVE AUCTION AT HOMECOMING. FORM 990, PART VI, SECTION A, LINE 6 THE BOARD OF TRUSTEES HAS 26 VOTING MEMBERS, CONSISTING OF 24 BOARD TRUSTEES AND TWO EX-OFFICIO MEMBERS (THE PRESIDENT AND PRESIDENT-ELECT OF THE ALUMNI BOARD). THE EXECUTIVE COMMITTEE HOLDS THE AUTHORITY TO ACT ON BEHALF OF THE BOARD. THE EXECUTIVE COMMITTEE IS COMPOSED OF THE BOARD CHAIR, PAST CHAIR, VICE-CHAIR, SECRETARY, TREASURER, AND CHAIRS OF ALL STANDING COMMITTEES. ALL MEMBERS OF THE EXECUTIVE COMMITTEE ARE TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 PFEIFFER UNIVERSITY'S FORM 990 WILL BE SENT TO THE PRESIDENT, CFO, AND ALL BOARD OF TRUSTEE MEMBERS FOR INDIVIDUAL REVIEW BEFORE THE RETURN IS SUBMITTED. THE FINANCE COMMITTEE WILL REVIEW IN DETAIL AT A SCHEDULED MEETING PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO EVERY BOARD OF TRUSTEE MEMBER, EMPLOYEE, INDEPENDENT CONTRACTOR AND VOLUNTEER AT PFEIFFER UNIVERSITY. ALL COVERED INDIVIDUALS MUST ANNUALLY REVIEW AND SIGN THE POLICY. IF AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST IS BELIEVED TO EXIST, THE INDIVIDUAL MUST IMMEDIATELY AND FULLY DISCLOSE THE POTENTIAL CONFLICT IN WRITING TO THAT INDIVIDUAL'S IMMEDIATE SUPERVISOR OR TO THE PRESIDENT, PROVOST, VICE PRESIDENT OF FINANCIAL SERVICES OR THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE. THE AFOREMENTIONED PARTY WILL REVIEW SUCH CONFLICT AND APPROVE OR DISAPPROVE OF THE INDIVIDUAL'S INVOLVEMENT IN ANY TRANSACTIONS OR DECISIONS RELATED TO SUCH CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS PEER METRICS TO DETERMINE THE PRESIDENT'S COMPENSATION. ALL COMPENSATION MEETINGS AND DETERMINATIONS ARE DOCUMENTED IN THE EXECUTIVE COMMITTEE MINUTES, AND AGREED UPON TERMS AND CONDITIONS OF EMPLOYMENT ARE RECOGNIZED IN A SIGNED EMPLOYMENT AGREEMENT. COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS BASED ON ANNUAL PERFORMANCE EVALUATIONS. THE DIRECT SUPERVISOR COMPLETES THE ANNUAL PERFORMANCE EVALUATIONS, THE SUPERVISOR SIGNS THE EVALUATION. THE DEPARTMENT SUPERVISOR THEN REVIEWS AND SIGNS THE EVALUATION. AT THAT POINT THE EVALUATION IS SHARED WITH THE EMPLOYEE FOR ANY ADDITIONAL INPUT. THEN THE EMPLOYEE SIGNS THE DOCUMENT AND IT IS FORWARDED TO THE HUMAN RESOURCES DEPARTMENT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES COPIES OF THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS UPON REQUEST. IN ADDITION, PFEIFFER UNIVERSIRY POSTS ITS CONFLICT OF INTEREST STATEMENT ONLINE AT THE PFEIFFER UNIVERSITY WEBSITE. FORM 990, PART VII, SECTION A, COLUMN F: THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF ANNUITY 5,194. CHANGE IN CASH SURRENDER VALUE 2,044. FORM 990, PART XII, LINE 2C, AUDIT/FINANCE COMMITTEE: THE FINANCE/AUDIT COMMITTEE'S PROCESS OF AUDIT EVALUATION HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART VI, SECTION A, LINE 1A EACH TRUSTEE, EXCEPT THE EX-OFFICIO MEMBERS, SHALL BE ENTITLED TO ONE (1) VOTE ON EACH MATTER SUBMITTED TO A VOTE AT A MEETING OF THE TRUSTEES, OR SUBMITTED BY EMAIL BALLOT. THE VOTE OF A MAJORITY OF THE TRUSTEES ON ANY MATTER AT A MEETING OF THE BOARD AT WHICH A QUORUM IS PRESENT SHALL BE THE ACT OF THE TRUSTEES ON THAT MATTER, UNLESS THE VOTE OF A GREATER NUMBER IS REQUIRED BY LAW OR BY THE CHARTER OR BYLAWS OF THE CORPORATION. ATTENDANCE BY TELECONFERENCE IS ACCEPTABLE TO CONSTITUTE A QUORUM AND TO VOTE ON A GIVEN MATTER. THE CHAIR OF THE FACULTY SENATE AND THE PRESIDENT OF THE STUDENT GOVERNMENT ASSOCIATION SHALL BE EX-OFFICIO, NON-VOTING MEMBERS OF THE BOARD, AND THEIR TERMS ON THE BOARD SHALL COINCIDE WITH THEIR RESPECTIVE TERMS AS CHAIR OF THE FACULTY SENATE AND PRESIDENT OF THE STUDENT GOVERNMENT ASSOCIATION. THE RESIDENT BISHOP OF THE WESTERN NORTH CAROLINA CONFERENCE AND THE SUPERINTENDENT OF THE ALBEMARLE DISTRICT SHALL SERVE AS EX-OFFICIO VOTING MEMBERS WHOSE TERMS ON THE BOARD SHALL COINCIDE WITH THEIR APPOINTED POSITIONS. THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR, PAST CHAIR, VICE-CHAIR, SECRETARY, TREASURER, AND CHAIRS OF ALL STANDING COMMITTEES. ALL MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE TRUSTEES. THE EXECUTIVE COMMITTEE SHALL HAVE GENERAL CHARGE OF THE BUSINESS OF THE CORPORATION BETWEEN THE REGULAR MEETINGS OF THE BOARD AND SHALL HAVE AUTHORITY TO ACT UPON ALL MATTERS WHICH, IN THE JUDGMENT OF THE COMMITTEE, SHALL REQUIRE IMMEDIATE ACTION OR DECISION. IT SHALL HAVE GENERAL CHARGE OF THE FINANCIAL INTERESTS OF THE UNIVERSITY AND OF SECURING AND NEGOTIATING LOANS. THE COMMITTEE SHALL ENSURE THAT THE UNIVERSITY IS IN COMPLIANCE WITH THE APPROVED CAPITAL EXPENDITURE POLICY. DURING THE INTERVALS BETWEEN THE MEETINGS OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL HAVE THE POWER TO TRANSACT ALL FINANCIAL AND EXECUTIVE BUSINESS, EXCEPT AS OTHERWISE MAY BE PROVIDED BY LAW OR BY THESE BYLAWS. THE COMMITTEE SHALL CONDUCT AN ANNUAL REVIEW OF THE PRESIDENT'S PERFORMANCE AND COMPENSATION PACKAGE. MINUTES OF THE MEETINGS AND ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE ACCURATELY RECORDED AND SHALL BE PRESENTED IN EACH CASE TO THE SUCCEEDING MEETING OF THE BOARD FOR APPROVAL AND RATIFICATION. CAMPUS AT PFEIFFER LLC 4701 PARK ROAD CHARLOTTE NC 28209 205671256 CAMPUS CAPITAL PROJECTS NC 0 4234993 PFEIFFER UNIVERSITY