2022-04-18T17:12:49-05:00 2021-05-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2020-06-01 530259954 NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS NATI 2028612500 1110 VERMONT AVENUE NW NO 800 WASHINGTON DC 20005 SUSAN JOHNSTON PRESIDENT & CHIEF EXECUTIVE OFFICER 2028612500 2022-04-15 1 SUSAN JOHNSTON 999009999 ANDREWJ SMITH P01985389 6123764500 2022-04-15 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z SUSAN JOHNSTON 1110 VERMONT AVENUE NW NO 800 WASHINGTON DC 20005 15357715 0 X WWW.NACUBO.ORG X 1956 IL TO IMPROVE FINANCIAL AND ADMINISTRATIVE MANAGEMENT AT INSTITUTIONS OF HIGHER EDUCATION. 21 21 48 20 103646 49423 10781141 9329709 5891596 2526460 2967 463939 221059 159702 16896763 12479810 11750 78000 0 0 7890360 6619168 0 0 536954 7174202 4457574 15076312 11154742 1820451 1325068 21257129 26631746 10866525 11912634 10390604 14719112 X THE USUAL PUBLIC ACTIVITIES OF THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS (NACUBO) ARE TO DEVELOP, PROMOTE, AND IMPROVE BUSINESS AND FINANCIAL PRINCIPLES AND PRACTICES IN THE ADMINISTRATION OF INSTITUTIONS OF HIGHER EDUCATION AND TO FOSTER AMONG MEMBER INSTITUTIONS PROFESSIONAL IDEALS AND STANDARDS IN BUSINESS AND FINANCIAL ADMINISTRATION.NACUBO'S CORE MISSION IS TO IMPROVE FINANCIAL AND ADMINISTRATIVE MANAGEMENT AT INSTITUTIONS OF HIGHER EDUCATION. TO THIS END, NACUBO MARSHALS EXPERTISE, SHARES KNOWLEDGE, PROVIDES TECHNICAL ASSISTANCE, AND ENCOURAGES INNOVATION IN BUSINESS PRACTICES. AREAS OF FOCUS INCLUDE ACCOUNTING AND FINANCIAL MANAGEMENT INCLUDING ENDOWMENTS AND DEBT, TAXATION, STUDENT FINANCIAL SERVICES, AND BUSINESS OPERATIONS INCLUDING INFORMATION TECHNOLOGY AND FACILITIES MANAGEMENT. 0 0 4067367 MEMBER SERVICES:UNIVERSITIES - THE ASSOCIATION KEEPS MEMBERS INFORMED OF FEDERAL ACTIONS, SOLICITS MEMBER OPINIONS AND CONCERNS, AND ADVOCATES FOR THE BEST INTERESTS OF COLLEGES AND UNIVERSITIES WITH CONGRESS AND FEDERAL AGENCIES. THE ASSOCIATION'S ADVOCACY EFFORTS WERE COORDINATED WITH A NUMBER OF OTHER ASSOCIATIONS REPRESENTING VARIOUS HIGHER EDUCATION CONSTITUENCIES. IN ADDITION, NACUBO IS THE VOICE FOR HIGHER EDUCATION WITH THE VARIOUS BODIES THAT SET STANDARDS FOR ACCOUNTING PRACTICES, SUCH AS THE FINANCIAL ACCOUNTING STANDARDS BOARD, THE ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS, AND THE U.S. GENERAL ACCOUNTING OFFICE. (CONTINUE ON SCHEDULE O)RESEARCH - NACUBO UNDERTAKES BOTH ON-GOING LONGITUDINAL STUDIES IMPORTANT TO THE HIGHER EDUCATION INDUSTRY SUCH AS THE ASSOCIATION'S ANNUAL STUDY OF COLLEGE AND UNIVERSITY ENDOWMENTS AND SHORT SURVEYS OR RESEARCH ON SPECIFIC ISSUES OF CONCERN.REGIONAL ASSOCIATIONS AND PARTNERSHIPS - NACUBO MANAGES AN ASSOCIATION MANAGEMENT SYSTEM THAT SERVES THE JOINT MEMBERSHIP OF THE NATIONAL ASSOCIATION AND ITS FOUR REGIONAL AFFILIATED ASSOCIATIONS (CACUBO, EACUBO, SACUBO AND WACUBO). THE SYSTEM CAPTURES A VARIETY OF DATA POINTS THAT ENABLE IMPROVED TRACKING OF INDIVIDUAL MEMBER ACTIVITY AND DUES BILLING AND COLLECTION PROCESSES. THIS DATABASE IS LINKED TO BOTH A CONTENT MANAGEMENT SYSTEM AND THE ASSOCIATION WEBSITE IMPROVING MEMBER SERVICE.AWARDS PROGRAM - NACUBO RECOGNIZES INSTITUTIONAL AND INDIVIDUAL EXCELLENCE THROUGH ITS AWARDS PROGRAM. THESE AWARDS WERE PRESENTED TO INDIVIDUALS WHO SHOWED OUTSTANDING ACHIEVEMENT AND EXEMPLARY PERFORMANCE IN THE AREAS OF FINANCIAL MANAGEMENT, ENDOWMENT MANAGEMENT, PROFESSIONAL DEVELOPMENT AND MORE. INSTITUTIONS WERE RECOGNIZED THAT DEMONSTRATED INNOVATION IN THE AREAS OF PROCESS IMPROVEMENT AND RESOURCE ENHANCEMENT. 3462551 78000 1143301 CONFERENCES, WORKSHOPS, AND SEMINARS:THE NACUBO ANNUAL MEETING IS THE MOST IMPORTANT PROFESSIONAL DEVELOPMENT EVENT OF THE YEAR FOR COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND THEIR STAFF. THE CONFERENCE WAS HELD VIRTUALLY FOR THE 2021 FISCAL YEAR. SESSION TOPICS INCLUDED ADVANCING TECHNOLOGY, ENHANCING THE DEVELOPED ENVIRONMENT, FINANCING THE ENTERPRISE, IMPLEMENTING AND LEADING CHANGE, IMPROVING THE STUDENT EXPERIENCE, PLANNING & BUDGETING, AND MANY OTHER TECHNICAL, MANAGERIAL AND LEADERSHIP ISSUES. (CONTINUE ON SCHEDULE O).NACUBO PRESENTS WEB CASTS FROM THE ASSOCIATION'S STUDIO DURING THE YEAR.THE WEB CASTS COVERED "HOT TOPICS" IN HIGHER EDUCATION BUSINESS AND ADMINISTRATION. THIS DEPARTMENT ADMINISTERS A CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT PROGRAM FOR CERTIFIED PUBLIC ACCOUNTANTS. NACUBO IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. PROFESSIONAL DEVELOPMENT (PDC) -NACUBO CREATES AND DELIVERS A BROAD RANGE OF PROGRAMS, SERVICES, AND PRODUCTS THAT ARE DESIGNED TO STRENGTHEN THE ABILITIES AND KNOWLEDGE OF CAMPUS ADMINISTRATORS AT ALL LEVELS. TO MEET THE CHANGING NEEDS OF HIGHER EDUCATION, NACUBO HAS DEVELOPED A VARIETY OF WORKSHOPS AND MATERIALS COVERING TOPICS IN THE FIELDS OF ACCOUNTING, HIGHER EDUCATION FINANCE, LEADERSHIP AND MANAGEMENT, TAX, STUDENT FINANCIAL SERVICES, CAMPUS OPERATIONS, AND TECHNOLOGY. 407803 1279513 CONSULTING:NACUBO CONSULTING PROVIDES PRACTICAL GUIDANCE TO HIGHER EDUCATION INSTITUTIONS. OUR AIM IS TO BE AN INSTITUTION'S PARTNER IN PRACTICE. NACUBO CONSULTANTS BRING EXPERTISE, EXPERIENCE, AND LEADERSHIP ABILITIES TO EVERY ENGAGEMENT SEEKING TO SUPPORT INSTITUTIONS IN CRITICAL AREAS. ALL OF THE CONSULTING ENGAGEMENTS ARE CUSTOMIZED WITH DEFINED SCOPES OF WORK TO SUPPORT MEMBERS' WORK THROUGH COMPLEX PROBLEMS OR IMPROVE OPERATIONS. 202413 PUBLICATIONS AND OTHER PRODUCTS:NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS REMAINS A SOURCE OF PROFESSIONAL INFORMATION FOR MEMBERS. NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS SELLS APPROXIMATELY 25 PUBLICATION TITLES, INCLUDING TWO ONLINE SUBSCRIPTION SERVICES. 202413 8140134 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 55 0 48 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X RANA ROSE 2028612500 1110 VERMONT AVENUE NW SUITE 800 WASHINGTON DC 20005 ROBERT G MOORE CHAIR 1.00 X X 0 0 0 SUSAN SCROGGINS VICE CHAIR 1.00 X X 0 0 0 LYNN VALENTER IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 SUSAN A MADDUX SECRETARY 1.00 X X 0 0 0 DAVID BEA DIRECTOR 1.00 X 0 0 0 BRIAN G GUTIERREZ DIRECTOR 1.00 X 0 0 0 TERESA COSTANTINIDIS DIRECTOR 1.00 X 0 0 0 RUSS HANNAH DIRECTOR 1.00 X 0 0 0 JOHN W CRAWFORD DIRECTOR 1.00 X 0 0 0 LAURA HUBBARD DIRECTOR 1.00 X 0 0 0 RUTH JOHNSTON DIRECTOR 1.00 X 0 0 0 DIANA KUHLMANN DIRECTOR 1.00 X 0 0 0 MARYFRANCES MCCOURT DIRECTOR 1.00 X 0 0 0 MARY LAGRANGE DIRECTOR 1.00 X 0 0 0 KEITH MAC MCINTOSH DIRECTOR 1.00 X 0 0 0 NICOLE TRUFANT DIRECTOR 1.00 X 0 0 0 MICHAEL D VOLNA DIRECTOR 1.00 X 0 0 0 ROBERT SWANSON DIRECTOR 1.00 X 0 0 0 MATTHEW WARD DIRECTOR 1.00 X 0 0 0 MITCHELL WEIN DIRECTOR 1.00 X 0 0 0 CORY S BRADFORD PHD DIRECTOR 1.00 X 0 0 0 LISA FRACE DIRECTOR UNTIL 3/21 1.00 X 0 0 0 ELIZABETH CLARK VP, POLICY AND RESEARCH 35.00 X 205827 0 30490 MATTHEW HAMILL UNTIL 61920 SENIOR VP, STRATEGY AND SOLUTIONS 35.00 X 291843 0 20423 JAMES HUNDRIESER VP, CONSULTING AND BUSINESS DEVELOPMENT 35.00 X 311107 0 36462 SUSAN JOHNSTON PRESIDENT AND CEO 50.00 X 421269 0 83715 TIMOTHYRANDY ROBERSON VP, LEADERSHIP DEVELOPMENT 35.00 X 164704 0 42052 TADELETCH TADU YIMAM VP, DIGITAL ENGAGEMENT 35.00 X 173961 0 32083 SUSAN MENDITTO SENIOR DIRECTOR, ACCOUNTING POLICY 35.00 X 171472 0 34021 LAURA WAMSTED SENIOR DIRECTOR, BUSINESS DEVELOPMENT 35.00 X 151262 0 40320 MONICA DILLINGHAM CHIEF TECHNOLOGY OFFICER 35.00 X 146452 0 38202 BARBARA DIROCCO SENIOR DIRECTOR, MEETINGS AND EVENTS 35.00 X 139300 0 39192 MARY BACHINGER TAX POLICY DIRECTOR 35.00 X 121649 0 38909 2298846 0 435869 19 0 1 0 CAPITOL TAX PARTNERS 101 CONSTITUTION AVE NW STE 675 EAS WASHINGTON DC 20001 CONSULTING 250000 RPK GROUP 626C ADMIRAL DRIVE SUITE 511 ANNAPOLIS MD 21401 CFO AND HOURLY SUPPORT 228674 ABILA DEPT 3303 PO BOX 123303 DALLAS TX 75312 DATABASE SUPPORT 190528 MARRIOTT BUSINESS SERVICES PO BOX 402642 ATLANTA GA 30384 FOOD & BEVERAGE FOR ENDOWMENT MGMT FORUM 128026 HODGE HART & SCHLEIFER 8401 CONNECTICUT AVENUE SUITE 600 CHEVY CHASE MD 20815 INSURANCE 112684 7 7886026 1443683 9329709 CONSULTING FEES 900099 1279513 1279513 CONFERENCES, WORKSHOPS & SEMINARS 900099 1143301 1143301 ADVERTISING 541800 103646 103646 2526460 327726 327726 3007813 2871600 136213 136213 136213 165634 6305 159329 159329 373 373 373 12479810 2582143 103646 464312 X 78000 78000 1663440 1549543 113897 3821478 2872392 592624 356462 366712 275383 57769 33560 428403 333937 61046 33420 339135 271698 44570 22867 66949 1160 65789 40145 40145 87497 87497 39402 39402 2082575 931424 1144026 7125 36150 29481 6669 280564 249062 30337 1165 31869 25634 4393 1842 1056985 856927 129446 70612 14027 13190 573 264 46815 46481 292 42 20 20 162756 130916 22431 9409 91218 70789 20429 DATABASE/BOOKS SUBSCRIP 76340 59242 17098 PUBLICATIONS & PRINTING 69323 69144 88 91 UBI TAXES 36052 36052 FOOD & BEVERAGES 35875 35554 226 95 203012 116628 86384 11154742 8140134 2477654 536954 3764230 7012610 4763431 5098269 1158288 189590 677977 37123 30818 944354 481576 3985380 3406794 741342 578586 9658771 12751910 21257129 26631746 1688000 1079897 6571836 7316173 2606689 3516564 10866525 11912634 X 9199500 14252501 1191104 466611 10390604 14719112 21257129 26631746 1325068 3003440 0 X 0 1 X 1 0 X 1019680 9186943 9356592 10781141 9329709 39674065 13503629 5474188 5751696 5448062 2588448 32766023 14523309 14661131 15108288 16229203 11918157 72440088 0 0 0 72440088 439016 465929 581798 697715 327726 2512184 567688 655072 533431 443534 103646 2303371 1006704 1121001 1115229 1141249 431372 4815555 708523 713847 777257 35940 373 2235940 16238536 16495979 17000774 17406392 12349902 79491583 0.91130 0.90060 0.06060 0.06630 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: CONSULTING FEES - 2016 AMOUNT: $ 504,131. 2017 AMOUNT: $ 600,617. 2018 AMOUNT: $ 632,294. JOB BANK - SALES RETURNS AND ALLOWANCES - 2016 AMOUNT: $ 22,707. REFUNDS - 2017 AMOUNT: $ 83,951. MAILING LIST - 2017 AMOUNT: $ 3,818. 2018 AMOUNT: $ 931. 2019 AMOUNT: $ 300. OTHER INCOME - 2016 AMOUNT: $ 181,685. 2017 AMOUNT: $ 25,461. 2018 AMOUNT: $ 144,032. 2019 AMOUNT: $ 35,640. 2020 AMOUNT: $ 373. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 87497 87497 8052637 8140134 557007 139252 0 0 1000000 1000000 895520 557007 3452527 5178791 160018 117121 81511 87497 446147 250000 250000 223880 139252 863132 1294698 53123 903 1020 53006 53254 917 1048 53123 55548 -575 1719 53254 61495 3984 9931 55548 0.91499 0.08501 0 0 935031 382740 552291 1264398 1257794 6604 1785951 1766260 19691 578586 DEFERRED RENT 1252644 PAYROLL PROTECTION PROGRAM (PPP) LOAN 2263920 3516564 X 16118083 3003440 667930 3671370 12446713 39402 -6305 33097 12479810 11789575 667930 6305 674235 11115340 39402 39402 11154742 PART V, LINE 4: EARNINGS ON THE PERMANENTLY RESTRICTED ENDOWMENT NET ASSETS ARE AVAILABLE FOR NACUBO AWARDS PROGRAMS AND INSTITUTIONAL CAPACITY DEVELOPMENT. PART X, LINE 2: NACUBO IS EXEMPT FROM THE PAYMENT OF TAXES ON INCOME OTHER THAN NET UNRELATED BUSINESS INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. NACUBO RECEIVED UNRELATED BUSINESS INCOME FROM ADVERTISING REVENUE THAT IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. UNRELATED INCOME TAX EXPENSE WAS $36,052 AND $4,153, FOR THE YEARS ENDED MAY 31, 2021 AND 2020 RESPECTIVELY. NACUBO'S INCOME TAX RETURN IS SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. NACUBO IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -6,305. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 6,305. 1 HUB LEADER, STUDENT SUCCESS (STIPEND) 15 78000 N/A N/A 1 X X X X X 1 0 0 0 0 0 0 0 0 SUSAN JOHNSTON PRESIDENT AND CEO 400019 0 21250 0 0 0 34079 0 49636 0 504984 0 0 0 JAMES HUNDRIESER VP, CONSULTING AND BUSINESS DEVELOPM 291732 0 19375 0 0 0 26791 0 9671 0 347569 0 0 0 MATTHEW HAMILL UNTIL 61920 SENIOR VP, STRATEGY AND SOLUTIONS 143492 0 14064 0 134287 0 13638 0 6785 0 312266 0 0 0 ELIZABETH CLARK VP, POLICY AND RESEARCH 193327 0 12500 0 0 0 21372 0 9118 0 236317 0 0 0 TIMOTHYRANDY ROBERSON VP, LEADERSHIP DEVELOPMENT 153204 0 11500 0 0 0 17027 0 25025 0 206756 0 0 0 TADELETCH TADU YIMAM VP, DIGITAL ENGAGEMENT 162461 0 11500 0 0 0 15938 0 16145 0 206044 0 0 0 SUSAN MENDITTO SENIOR DIRECTOR, ACCOUNTING POLICY 164286 0 7186 0 0 0 17266 0 16755 0 205493 0 0 0 LAURA WAMSTED SENIOR DIRECTOR, BUSINESS DEVELOPMEN 144399 0 6863 0 0 0 16826 0 23494 0 191582 0 0 0 MONICA DILLINGHAM CHIEF TECHNOLOGY OFFICER 142543 0 3909 0 0 0 17022 0 21180 0 184654 0 0 0 BARBARA DIROCCO SENIOR DIRECTOR, MEETINGS AND EVENTS 126100 0 13200 0 0 0 13941 0 25251 0 178492 0 0 0 MARY BACHINGER TAX POLICY DIRECTOR 118454 0 3195 0 0 0 13920 0 24989 0 160558 0 0 0 PART I, LINE 4A MATTHEW HAMILL RECEIVED A PAYMENT OF $134,287. FORM 990, PART VI, SECTION A, LINE 1 EXECUTIVE GOVERNANCE COMMITTEE. THE EXECUTIVE GOVERNANCE COMMITTEE SHALL CONSIST OF THE CHAIR OF THE BOARD OF DIRECTORS, THE PRESIDENT, THE SECRETARY, THE VICE CHAIR, THE CHAIR OF THE FINANCE AND AUDIT COMMITTEE, THE PAST BOARD CHAIR, AND UP TO TWO ADDITIONAL MEMBERS WHO SHALL BE DESIGNATED BY THE BOARD CHAIR AND APPROVED BY THE BOARD OF DIRECTORS. THE EXECUTIVE GOVERNANCE COMMITTEE SHALL CARRY OUT THE BOARD'S OVERALL RESPONSIBILITY WITH RESPECT TO OVERSEEING THE BOARD'S COMMITTEE STRUCTURE; MONITORING THE ORIENTATION AND CONTINUING EDUCATION OF DIRECTORS; ENSURING COMPLIANCE WITH LEGAL, ETHICAL, AND CONTRACTUAL OBLIGATIONS; DETERMINING THE COMPENSATION OF NACUBO SENIOR STAFF AND ALL DISQUALIFIED PERSONS; AND EXERCISING THE BOARD'S AUTHORITY WHEN THE BOARD IS NOT IN SESSION EXCEPT AS SPECIFICALLY LIMITED BY THE BOARD, THE BYLAWS, AND APPLICABLE LAW. ALL ACTION APPROVED, TAKEN, AND RATIFIED BY THE COMMITTEE SHALL BE DEEMED TO BE, AND MAY BE CERTIFIED AS BEING APPROVED, TAKEN, AND RATIFIED UNDER AUTHORITY OF THE BOARD. ACTIONS TAKEN BY THE EXECUTIVE GOVERNANCE COMMITTEE SHALL BE REPORTED TO THE BOARD OF DIRECTORS AT ITS NEXT REGULARLY SCHEDULED MEETING. THE EXECUTIVE GOVERNANCE COMMITTEE SHALL BE RESPONSIBLE FOR MAINTAINING AN EFFECTIVE WORKING RELATIONSHIP WITH THE PRESIDENT, SHALL NEGOTIATE WITH THE PRESIDENT HIS OR HER EMPLOYMENT CONTRACT, AND SHALL ANNUALLY EVALUATE THE PRESIDENT'S PERFORMANCE. FORM 990, PART VI, SECTION A, LINE 6 NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS HAS THE FOLLOWING TYPES OF MEMBERS: REGULAR, ASSOCIATE, PROVISIONAL, SUBSCRIBER, AFFILIATE, GOVERNING BOARD AND STUDENT/RETIREE. FORM 990, PART VI, SECTION A, LINE 7B DUES INCREASES ARE SUBJECT TO MEMBER APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD MEMBERS WILL CONDUCT A THOROUGH REVIEW OF THE 990 BEFORE THE DOCUMENTS ARE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE HR MONITORS COMPLIANCE WITH CONFLICT OF INTEREST POLICY. EACH EMPLOYEE HAS A DUTY TO PLACE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS' INTERESTS FOREMOST IN ANY PERSONAL DEALINGS WITH NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND HAS A CONTINUING RESPONSIBILITY TO COMPLY WITH THE REQUIREMENTS OF THIS POLICY. THE CONDUCT OF PERSONAL BUSINESS BETWEEN ANY EMPLOYEE AND NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS IS PROHIBITED WITHOUT WRITTEN APPROVAL OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS, AFTER FULL DISCLOSURE BY THE EMPLOYEE. EACH EMPLOYEE MUST SIGN THE CONFLICT OF INTEREST DISCLOSURE STATEMENT FOR PURPOSES OF PROVIDING MANAGEMENT WITH THE INFORMATION NEEDED TO IMPLEMENT THIS POLICY. EMPLOYEE DISCLOSURE STATEMENTS WILL BE REVIEWED BY THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS PRESIDENT, WHO WILL RESOLVE ANY ACTUAL OR POTENTIAL CONFLICT(S). EACH EMPLOYEE SHALL ANNUALLY SIGN A DISCLOSURE STATEMENT WHICH AFFIRMS THAT SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY. THE DISCLOSURE STATEMENT WILL ALSO PROVIDE AN OPPORTUNITY TO DISCLOSE OR DISCLAIM SPECIFIC FINANCIAL INTERESTS. THIS POLICY APPLIES TO THE BOARD OF DIRECTORS AS WELL AS ALL EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES AN INDEPENDENT COMPENSATION CONSULTANT AND COMPENSATION SURVEYS AND STUDIES TO DETERMINE THE APPROPRIATE COMPENSATION AMOUNTS. ONCE APPROVED BY THE COMPENSATION COMMITTEE, A WRITTEN EMPLOYMENT CONTRACT IS WRITTEN FOR THE PRESIDENT/CHIEF EXECUTIVE OFFICER AND THE EXECUTIVE MANAGEMENT TEAM. QUATT ASSOCIATES WAS USED TO CONDUCT OUR MOST RECENT ORGANIZATION WIDE COMPENSATION REVIEW. OUR PRESIDENT OVERSAW THIS REVIEW PROCESS WITH THE INDEPENDENT COMPENSATION CONSULTANT. THIS PROCESS LAST TOOK PLACE IN 2019. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. IT DOES NOT MAKE ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G SERVICE CENTER FEES: PROGRAM SERVICE EXPENSES 376,431. MANAGEMENT AND GENERAL EXPENSES 422,650. FUNDRAISING EXPENSES 2,633. TOTAL EXPENSES 801,714. HONORARIA: PROGRAM SERVICE EXPENSES 5,784. MANAGEMENT AND GENERAL EXPENSES 6,494. FUNDRAISING EXPENSES 40. TOTAL EXPENSES 12,318. CONSULTANTS: PROGRAM SERVICE EXPENSES 546,141. MANAGEMENT AND GENERAL EXPENSES 711,437. FUNDRAISING EXPENSES 4,431. TOTAL EXPENSES 1,262,009. AGENCY TEMPORARIES: PROGRAM SERVICE EXPENSES 3,068. MANAGEMENT AND GENERAL EXPENSES 3,445. FUNDRAISING EXPENSES 21. TOTAL EXPENSES 6,534.