AGB/NACUBO Compliance Questionnaire Study Selected Results John D. Walda President and CEO National Association of College and University Business Officers Richard D. Legon President Association of Governing Boards of Universities and Colleges

146 Colleges/Universities Type of Institution 146 Colleges/Universities Note: all colleges/universities offer a four-year degree or higher

Comparison of Study Participants and All U. S Comparison of Study Participants and All U.S. Four Year Colleges and Universities, Number of Students Enrolled

58 Colleges/Universities Do you currently have a written conflict of interest policy in place that governs members of the organization’s ruling body and its top management officials? Private Colleges/Universities 58 Colleges/Universities

144 Colleges/Universities Does your organization currently make its audited financial statements available to the public? 144 Colleges/Universities

Did your organization have an investment policy for endowment funds? Private Colleges/Universities or Public Colleges/Universities with an endowment fund not managed by the state treasury or other state agency 134 Colleges/Universities

Did your organization have an investment committee that oversaw investment of your endowment fund assets? How many individuals were members of the investment committee that oversaw the endowment fund(s)? 128 Colleges/Universities 137 Colleges/Universities

Total year end fair market value of endowment assets All Colleges/Universities 142 Colleges/Universities Note: two colleges/universities did not provide any endowment information.

If “Yes,” did your organization meet the adopted target spending rate? Did your investment committee or board adopt a target spending rate for all endowments? All Colleges/Universities If “Yes,” did your organization meet the adopted target spending rate? 127 Colleges/Universities 141 Colleges/Universities Note: three colleges/universities did not provide information on adopting a target spending rate.

What was the target spending rate? All Colleges/Universities 128 Colleges/Universities

Endowment Fund Distribution Percent of colleges/universities that distribute endowment funds to the following categories 142 Colleges/Universities Number of Colleges/ Universities

Did the organization obtain an independent compensation comparability survey that was used in setting the person’s compensation? Private Colleges/Universities 314 Executives

Did the organization use a process intended to satisfy the rebuttable presumption procedure of section 4958 to determine compensation of the person? Private Colleges/Universities 314 Executives

Five highest paid employees Note: 25%, Median and 75% represent quartiles; compensation in thousands of dollars.

Sports Coach Public vs. Private Public (82 Sports Coaches) Private (14 Sports Coaches)

Chancellor/President Public vs. Private Public (89 chancellors/presidents) Private (45 chancellors/presidents)

UBI Activities reported on Form 990-T (Q27) Total Respondent Gross Receipts or Sales: $146.2 million Total Respondent Current Net Operating Loss: $-5.2 million Number of colleges/universities with current net operating gain/loss by activity:

Percentage of Colleges/Universities Offering an Average Tuition Discount Percentage

To access the full report, visit: www.agb.org/irs