On Aug. 24, 1867, Johns Hopkins University established its Board of Trustees, consisting of 12 members responsible for defining the University's mission and values. Today, the Board has expanded to 30 trustees and six ex officios. The Board now acts as the University’s chief governing body, responsible for academic, financial and policy actions of the University, including voting on tenure, setting tuition for academic programs, determining compensation for the president and supervising University investments.