| Form 990, Part III, Line 4A |
Statement of program service accomplishment With its home campus in St. Louis, Missouri, USA, Webster University comprises an action-oriented global network of faculty, staff, students and alumni who forge powerful bonds with each other and with their communities around the globe. Founded in 1915, Webster is a private non-profit university with students studying at campus locations in North America, Europe, Asia and Africa and in a robust learning environment online. History & Mission The University is committed to delivering high-quality learning experiences that transform students for global citizenship and individual excellence. This mission is reinforced by adherence to the following four values: 1. Students - By sustaining a personalized approach to a global, student-centered education through small classes, close relationships with faculty and staff, and attention to student life. 2. Learning - By developing educational programs that join theory and practice, address contemporary needs of employers/society, provide an international perspective, encourage creativity and scholarship, foster a lifelong desire to learn and actively serve communities and the world. 3. Diversity and Inclusion - By creating an environment accessible to individuals of diverse cultures, ages, and socioeconomic backgrounds and instilling in students a respect for diversity and an understanding of their own and others' values. 4. Global Citizenship - By educating a diverse population locally, nationally and internationally, acting responsibly toward the environment to foster a sustainable future, and strengthening the communities we serve. Distinctive Attributes While our values reflect our mission, our mission-focused strategies also help meet the needs of our students and communities we serve. We do this through a global mindset that welcomes cultural immersion, new ways of living and thinking, and education that opens our students to the world and in turn, opens the world to our students. Webster University campus locations are part of a powerful network of learning, information sharing, and social and cultural exchange. Ultimately, they provide a location for knowledge creation, preservation and dissemination on a local and global scale. As a strong, truly international university, Webster provides uniquely global opportunities and experiences, which prepare our students to lead in their communities and around the world. Webster integrates academics and operations in innovative ways to achieve excellence in academic and administrative programs, services and graduates. We attract diverse, interesting and accomplished students, faculty and staff who thrive in and contribute to our premier global network for learning. Our students, faculty and staff are committed to their local communities and enjoy building connections with friends and colleagues around the world. Faculty teaching, scholarship, research, artistic endeavors, curriculum development and service support our culture of academic excellence across the network. More than 200,000 alumni form an elite global network of accomplished and connected citizens. |
| FORM 990, PART VI, SECTION B, LINE 11B |
The form 990 has been reviewed by the Accounting Manager, Assistant Controller, and the Treasurer/CFO. The form was made available to board members on the University's Intranet before filing. |
| FORM 990, PART VI, SECTION B, LINE 12C |
Compliance with Conflict of Interest Policy The university has an Ethics/Code of conduct policy located on the university website. Employees sign their acknowledgement of the policy and their adherence at new employee orientation. Managers and supervisors are responsible for implementing and monitoring compliance with the policy. Employees violating the letter or spirit of the Ethics/Code of conduct policy are subject to disciplinary action. The Conflict of Interest policies apply to all trustees and employees of the university defined within the policy as covered persons. Certain covered persons annually complete a conflict of interest questionnaire provided by the university to 1) confirm one's understanding of the conflict of interest policy and 2) to disclose any possible covered transaction which could be or could appear to be a conflict. The university regularly and consistently monitors and enforces compliance of the conflict of interest policy by constant review of a written policy, which contains details of the following: - A policy statement - Details of the policy application - Definitions of: o Conflict of interest o Covered persons o Related persons o Business partners o Transacting party - Guidance for avoiding conflicts of interests in regards to: o Business decisions o Use of university resources and name o Gifts and gratuities o Financial interests and relationships with transacting parties o Receipt of items of monetary value from transacting party - Standards for approval of transactions involving conflicts of interest, notably: o Actual conflicts of interest o Apparent and potential conflicts of interest o Substantial and material benefit - Administration of policy including: o Reviewing reports regarding the conflict of interest questionnaire o Receiving disclosures of proposed transactions involving a conflict of interest o Reviewing proposed transactions as compared to the standards o Maintaining documentation o Reviewing operations to make changes to policy as deemed appropriate |
| Form 990, Part VI, Section B, Line 15A |
Process for Determining Compensation The university continues to meet the rebuttable presumption requirements. The university maintains competitive compensation practices designed to attract and retain high-quality experienced leadership talent needed to manage in a complex global environment. External independent compensation consultants are engaged periodically to review and advise the board on executive compensation. In 2020, the university engaged Pearl Meyer to conduct a compensation assessment of the positions of Chancellor and President, using a comparator group of private and public universities of similar complexity and size. In accordance with the by-laws of Webster University and the charters of the Board of Trustees Executive and Compensation Committees, the elements of compensation and total compensation are recommended by the Board Compensation Committee and approved by the Executive Committee. Changes in compensation of the Chancellor and the President are recommended by the Board Compensation Committee and approved by the Board Executive Committee. Executive Committee and Compensation Committee meeting minutes are maintained. |
| Form 990, Part VI, Section B, Line 15B |
Process for Determining Compensation THE PROCESS FOR OTHER OFFICERS IS THE SAME AS THAT FOR THE TOP MANAGEMENT OFFICIAL. |
| FORM 990, PART VI, SECTION C, LINE 18 |
The form 990 and form 990-T are also posted on guidestar.org. |
| FORM 990, PART VI, SECTION C, LINE 19 |
Process for making documents available to public The organization makes its governing documents, conflict of interest policy, and financial statements available upon request |
| Form 990, Part XI, LINE 9 |
CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS $ 652 Foreign Currency Translations (4,078,048) Consolidating Entries/indirect costs 1,513,594 Restructure Costs/Cost to Discontinue Operations (3,386,581) Endowment Funds Transfer/Other Changes (1,724,857) ---------------- TOTAL $(7,675,240) |
Attach to Form 990 or 990-EZ.