2013-05-15T10:49:15-05:00 2012-06-30 410746749 CLIFTONLARSONALLEN LLP 9515 DEERECO RD - SUITE 500 TIMONIUM MD 210932184 990 2011-07-01 521573280 COLA INC COLA 4103816581 9881 BROKEN LAND PARKWAY NO 200 COLUMBIA MD 21046 DOUGLAS BEIGEL 4103816581 2013-05-14 1 MELISSA DYER CPA P01222987 4104530900 2011 2016-02-24 21:20:13Z DOUGLAS BEIGEL 9881 BROKEN LAND PARKWAY NO 200 COLUMBIA MD 21046 12796393 0 X WWW.COLA.ORG X 1988 MD COLA IS A PHYSICIAN-DIRECTED ORGANIZATION WHOSE PURPOSE IS TO PROMOTE EXCELLENCE IN LABORATORY MEDICINE AND PATIENT CARE THROUGH A PROGRAM OF VOLUNTARY EDUCATION, CONSULTATION AND ACCREDITATION IN THE INTEREST OF QUALITY PATIENT CARE. 12 12 91 12 12810 -12873 0 0 9306653 9982618 298223 231709 12280 12810 9617156 10227137 0 0 0 0 5791925 6386164 0 0 0 3928939 4211292 9720864 10597456 -103708 -370319 13219021 12778694 8993983 9016197 4225038 3762497 COLA IS A PHYSICIAN-DIRECTED ORGANIZATION WHOSE PURPOSE IS TO PROMOTE EXCELLENCE IN LABORATORY MEDICINE AND PATIENT CARE THROUGH A PROGRAM OF VOLUNTARY EDUCATION, CONSULTATION AND ACCREDITATION IN THE INTEREST OF QUALITY PATIENT CARE. 0 0 7052531 9265369 ACCREDITATION PRODUCTS - THIS DIVISION IS RESPONSIBLE FOR SCHEDULING ON-SITE SURVEYS FOR THE LABORATORY ACCREDITATION PROGRAM, HANDLING THE PAPERFLOW & TRACKING THE VALIDATION OF EACH PARTICIPANTS PROGRESS THOUGH THE ACCREDITATION PROCESS. COLA'S UNIFORM SET OF FACILITY CRITERIA ADDRESSES ISSUES OF SAFETY, PATIENT CONVENIENCE AND ACCESS. MEDICAL REPORTS FOR EACH PHYSICIAN ARE REVIEWED FOR COMPLIANCE AND CONTENT, ORGANIZATION, CONFIDENTIALITY AND SAFETY STANDARDS. IN THE FISCAL YEAR ENDED 6/30/12, 3,864 LABS WERE SURVEYED AND 6,758 LABS WERE ACCREDITED. 1016554 678249 EDUCATIONAL PRODUCTS - THIS DIVISION PRODUCES THE COLA INSIGHT (6 ISSUES), NUMEROUS TECHNICAL RESOURCES, FORMS, LETTERS, COURSES & OTHER E-LEARNING EDUCATIONAL MATERIAL. IN THE FISCAL YEAR ENDED 6/30/12, 43,008 COPIES WERE DISTRIBUTED. 114010 39000 LICENSING - THIS DIVISION LICENSES COLA INTELLECTUAL PROPERTY TO OTHER ORGANIZATIONS THAT ACCREDIT MEDICAL LABORATORIES TO PROMOTE EXCELLENCE IN LABORATORY MEDICINE AND PATIENT CARE. 8183095 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 17 0 91 1 1 1 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MD X MICHAEL F BOULE 4103816581 9881 BROKEN LAND PARKWAY SUITE 200 COLUMBIA MD 21046 VERLIN K JANZEN MD 1.00 X 5000 0 0 DONNA E SWEET MD MACP 1.00 X 0 0 0 ROBERT J CARR MD 1.00 X 0 0 0 VERONICA C SANTILLI MD MHA CPE 1.00 X 0 0 0 W JAMES STACKHOUSE MD MACP 1.00 X 0 0 0 RICHARD A WHERRYMD 1.00 X 0 0 0 ARDIS D HOVEN MD 1.00 X 0 0 0 BARBARA L MCANENY MD 1.00 X 0 0 0 BRADLEY J FEDDERLY MD 1.00 X 0 0 0 RICHARD EISENSTAEDT MD 1.00 X 0 0 0 ROBERT A MANN MT 1.00 X 0 0 0 HENRY TRAVERS MD 1.00 X 0 0 0 DOUGLAS BEIGEL 60.00 X 445639 0 27089 ROBERT F FRENCH 60.00 X 159781 0 23103 MICHAEL F BOULE 60.00 X 142374 0 28682 MATT HOPWOOD 60.00 X 164355 0 26064 JOHN DALY 60.00 X 152819 0 1060 KIRK COUSER 60.00 X 125187 0 33024 JAMES LIGGINS 60.00 X 109389 0 8113 KATHY NUCIFORA 60.00 X 127067 0 13692 SUSAN TRASK 60.00 X 105568 0 11938 1537179 0 172765 9 0 1 0 VISION MULTIMEDIA TECHNOLOGIES LLC 800 WYMAN PARK DRIVE SUITE 310 BALTIMORE MD 21211 COMPUTER CONSULTING 246103 VENABLE LLP 750 E PRATT ST 900 BALTIMORE MD 21202 LEGAL SERVICES 148875 TWO38 DESIGN INC 238 GARDEN WAY WESTMINSTER MD 21157 COMPUTER CONSULTING 146054 THE MERZ GROUP 1570 MCDANIEL DRIVE WEST CHESTER PA 19380 MARKETING CONSULTING 129534 ENTREQUEST INC 2400 BOSTON ST STE 310 BALTIMORE MD 21224 TRAINING 123500 6 LABORATORY ACCREDITATI 900099 9265369 9265369 EDUCATIONAL PRODUCTS & 900099 678249 678249 LICENSING 900099 39000 39000 9982618 226965 226965 2574000 2569256 4744 4744 4744 ADVERTISING REVENUE - 900099 12810 12810 12810 10227137 9982618 12810 231709 1292186 219120 1073066 4226630 4000363 226267 91830 91830 433509 419936 13573 342009 301561 40448 101843 74286 27557 44613 23466 21147 444522 299163 145359 382836 209783 173053 405225 306848 98377 263725 198798 64927 1053802 1033860 19942 317636 278094 39542 752569 417626 334943 69159 34516 34643 TRAINING 172654 121614 51040 REPAIRS AND MAINTENANCE 58890 29871 29019 PRINTING & PUBLICATION 49466 48765 701 DUES AND SUBSCRIPTIONS 31593 26298 5295 62759 47297 15462 10597456 8183095 2414361 0 65907 213671 1759319 1681319 593758 427850 119404 58536 1461182 1238621 287992 222561 8074971 8042182 2317670 2132575 13219021 12778694 1086987 1197983 7906996 7818214 8993983 9016197 X 4225038 3762497 4225038 3762497 13219021 12778694 X -370319 -92222 X X 0 1 1 X 0 X 8498129 8703538 9248650 9306653 9982618 45739588 8498129 8703538 9248650 9306653 9982618 45739588 0 0 0 45739588 582387 266533 217131 209061 226965 1502077 582387 266533 217131 209061 226965 1502077 182 182 9080698 8970071 9465781 9515714 10209583 47241847 0.96820 0.96200 0.03180 0.03790 X 81758 74356 7402 1379424 1164265 215159 222561 INVESTMENT IN SYSTEM DEVELOPMENT 2132575 2132575 10227137 10597456 -370319 -92222 -92222 -462541 10134915 -92222 -92222 10227137 0 10227137 10597456 0 10597456 0 10597456 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: IN ACCORDANCE WITH THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, COLA ASSESSES ALL TAX POSITIONS TAKEN. COLA DETERMINED THAT IT WAS NOT REQUIRED TO RECORD A LIABILITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2012 AND 2011. X X X X 0 0 0 0 0 0 0 0 0 DOUGLAS BEIGEL 330194 0 78340 0 37105 0 8295 0 18794 0 472728 0 0 0 ROBERT F FRENCH 143533 0 15257 0 991 0 6770 0 16333 0 182884 0 0 0 MICHAEL F BOULE 127573 0 14207 0 594 0 6330 0 22352 0 171056 0 0 0 MATT HOPWOOD 148626 0 15601 0 128 0 0 0 26064 0 190419 0 0 0 JOHN DALY 152453 0 0 0 366 0 0 0 1060 0 153879 0 0 0 KIRK COUSER 111438 0 13668 0 81 0 0 0 33024 0 158211 0 0 0 SUPPLEMENTAL INFORMATION PART III SUPPLEMENTAL INFORMATION FOR SCHEDULE J, PART I, LINE 3: A COMMITTEE OF THE BOARD, COMPOSED ENTIRELY OF INDIVIDUALS WITH NO "CONFLICTS OF INTEREST" (AS DEFINED UNDER IRS RULES), DETERMINED THE CEO'S COMPENSATION FOR THE REPORTING YEAR. THE COMMITTEE OBTAINED A DETAILED MARKET-BASED COMPENSATION ANALYSIS FROM A CONSULTING FIRM. THIS COMPENSATION ANALYSIS PROVIDED COMPARABILITY DATA FOR POSITIONS COMPARABLE TO THAT OF THE CEO. THIS COMPENSATION ANALYSIS WAS THEN USED BY THE COMMITTEE TO DETERMINE THE APPROPRIATE COMPENSATION FOR THE CEO, WHICH IS REFLECTED IN A WRITTEN EMPLOYMENT CONTRACT. DURING THE REPORTING YEAR, THE CONSULTING FIRM USED BY THE COMMITTEE DID NOT MEET THE DEFINITION OF "INDEPENDENT" PROVIDED IN THE SCHEDULE J INSTRUCTIONS, SO COLA WAS NOT ABLE TO CHECK THE "INDEPENDENT COMPENSATION CONSULTANT" BOX IN PART I, LINE 3. HOWEVER, PRESENTLY, A COMPENSATION COMMITTEE (AS DEFINED IN THE SCHEDULE J INSTRUCTIONS), COMPOSED ENTIRELY OF INDIVIDUALS WITH NO "CONFLICTS OF INTEREST" (AS DEFINED UNDER IRS RULES), DETERMINES THE CEO'S COMPENSATION, AND DOES SO ONLY AFTER OBTAINING A COMPENSATION SURVEY OR STUDY PREPARED BY AN INDEPENDENT COMPENSATION CONSULTANT (AS DEFINED IN THE SCHEDULE J INSTRUCTIONS). THIS COMMITTEE THEN DETERMINES THE CEO'S COMPENSATION IN STRICT COMPLIANCE WITH THE REQUIREMENTS OF THE IRS INTERMEDIATE SANCTIONS REGULATIONS. SUPPLEMENTAL INFORMATION PART III SUPPLEMENTAL INFORMATION FOR SCHEDULE J, PART II - DOUGLAS BEIGEL: (B) BREAKDOWN OF W-2 AND/OR 1099 MISC COMPENSATION (I) BASE COMPENSATION - $330,194 THIS BASE COMPENSATION WAS APPROVED AS REASONABLE, IN ADVANCE, BY AN INDEPENDENT EXECUTIVE COMMITTEE, WHICH BASED ITS DECISION ON DATA PROVIDED BY A DETAILED MARKET-BASED COMPENSATION ANALYSIS FROM A CONSULTING FIRM, WHICH PROVIDED COMPARABILITY DATA FOR POSITIONS COMPARABLE TO THE CEO'S. (II) BONUS & INCENTIVE COMPENSATION - $78,340 $60,340 OF THIS AMOUNT WAS AN AWARD BASED ON THE ACHIEVEMENT OF ANNUAL (FISCAL YEAR) PERFORMANCE STANDARDS ESTABLISHED BY COLA IN ADVANCE. FINAL PAYMENT WAS BASED ON ACTUAL GOAL ACHIEVEMENT FOR THE FISCAL YEAR ENDING JUNE 30, 2011, AS DETERMINED BY COLA. THE ENTIRE AMOUNT OF THE AWARD WAS AT-RISK. $18,000 OF THIS AMOUNT WAS A BONUS PAID TO THE CEO IN LIEU OF TAXABLE LIFE INSURANCE PREMIUMS THAT WERE PAID BY COLA IN PRIOR YEARS. (III) OTHER REPORTABLE COMPENSATION - $37,105 $2,498 OF THIS TOTAL WAS TAXABLE DISABILITY INSURANCE PREMIUMS PAID BY COLA. $387 OF THIS TOTAL WAS IMPUTED INCOME FROM COLA-PROVIDED GROUP TERM LIFE INSURANCE. $17,720 OF THIS TOTAL WAS A CASH PAYMENT EQUAL TO THE AMOUNT OF CONTRIBUTIONS COLA COULD NOT MAKE TO THE CEO'S ACCOUNT IN COLA'S 401(K) TAX-QUALIFIED RETIREMENT PLAN DUE TO THE APPLICATION OF LEGAL LIMITS TO THE 401(K) PLAN'S EMPLOYER CONTRIBUTION FORMULA. (ABSENT THESE LIMITS, THE CEO WOULD HAVE RECEIVED THESE CONTRIBUTIONS UNDER THE PLAN'S FORMULA.) $16,500 OF THIS TOTAL WAS AN EMPLOYER CONTRIBUTION TO A 457(B) NON-TAX-QUALIFIED RETIREMENT PLAN. IN THE EVENT OF A COLA BANKRUPTCY, PARTICIPANTS IN A 457(B) PLAN ARE GENERAL UNSECURED CREDITORS OF COLA. DISTRIBUTIONS FROM THE 457(B) PLAN MAY NOT BE ROLLED-OVER TO AN IRA OR QUALIFIED PLAN. AS REQUIRED BY THE FORM 990 INSTRUCTIONS, BECAUSE THE EMPLOYER CONTRIBUTION IS FULLY VESTED AT ALL TIMES, COLA IS REPORTING THE CONTRIBUTION AS "OTHER COMPENSATION" IN COLUMN B(III), RATHER THAN AS DEFERRED COMPENSATION IN COLUMN C, EVEN THOUGH THE CONTRIBUTION WAS NOT PAID TO CEO (AND MAY NEVER BE PAID TO THE CEO IN THE EVENT OF A COLA BANKRUPTCY). (C) RETIREMENT AND OTHER DEFERRED COMPENSATION - $8,295 THIS WAS COLA'S CONTRIBUTION TO THE CEO'S ACCOUNT IN COLA'S 401(K) PLAN, WHICH IS AVAILABLE TO ALL ELIGIBLE COLA EMPLOYEES. (D) NONTAXABLE BENEFITS - $18,794 $5,874 OF THIS AMOUNT WAS COLA'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN ON BEHALF OF THE CEO. THE PLAN IS AVAILABLE TO ALL ELIGIBLE COLA EMPLOYEES. $12,920 OF THIS AMOUNT WAS THE CEO'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN. SUPPLEMENTAL INFORMATION PART III SUPPLEMENTAL INFORMATION FOR SCHEDULE J, PART II - ALL OTHERS: (B) BREAKDOWN OF W-2 AND/OR 1099 MISC COMPENSATION (I) BASE COMPENSATION THE EXECUTIVE'S BASE COMPENSATION IS REQUIRED TO FALL INTO A PRE-ESTABLISHED SALARY RANGE ESTABLISHED BY COLA THROUGH THE USE OF INDEPENDENT MARKET DATA (DERIVED FROM VARIOUS SOURCES) ON COMPENSATION FOR SIMILAR POSITIONS IN ORGANIZATIONS SIMILAR TO COLA. THE REASONABLENESS AND COMPETITIVENESS OF THE COMPENSATION STRUCTURE IS REVIEWED ANNUALLY BY COLA AND IS ADJUSTED WHERE APPROPRIATE. ALL COMPENSATION ACTIONS FOR THE EXECUTIVES REQUIRE THE APPROVAL OF THE CEO, WHO ALSO HAS THE AUTHORITY TO MAKE EXCEPTIONS TO THE COMPENSATION STRUCTURE BASED ON CONSIDERATIONS OF BUSINESS NECESSITY, INTERNAL EQUITY AND EXTERNAL COMPETITIVENESS. (II) BONUS & INCENTIVE COMPENSATION THIS AMOUNT WAS AN AWARD BASED ON THE ACHIEVEMENT OF ANNUAL (FISCAL YEAR) PERFORMANCE STANDARDS ESTABLISHED BY COLA IN ADVANCE. FINAL PAYMENT WAS BASED ON ACTUAL GOAL ACHIEVEMENT FOR THE FISCAL YEAR ENDING JUNE 30, 2011, AS DETERMINED BY COLA. THE ENTIRE AMOUNT OF THE AWARD WAS AT-RISK. (III) OTHER REPORTABLE COMPENSATION THIS AMOUNT WAS IMPUTED INCOME FROM COLA-PROVIDED GROUP TERM LIFE INSURANCE. (C) RETIREMENT AND OTHER DEFERRED COMPENSATION THIS WAS COLA'S CONTRIBUTION TO THE EXECUTIVE'S ACCOUNT IN COLA'S 401(K) PLAN, WHICH IS AVAILABLE TO ALL ELIGIBLE COLA EMPLOYEES. (D) NONTAXABLE BENEFITS FRENCH: $5,874 OF THIS AMOUNT WAS COLA'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN ON BEHALF OF THE EXECUTIVE. THE PLAN IS AVAILABLE TO ALL ELIGIBLE COLA EMPLOYEES. $10,459 OF THIS AMOUNT WAS THE EXECUTIVE'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN. BOULE: $5,874 OF THIS AMOUNT WAS COLA'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN ON BEHALF OF THE EXECUTIVE. THE PLAN IS AVAILABLE TO ALL ELIGIBLE COLA EMPLOYEES. $16,478 OF THIS AMOUNT WAS THE EXECUTIVE'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN. HOPWOOD: $4,895 OF THIS AMOUNT WAS COLA'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN ON BEHALF OF THE EXECUTIVE. THE PLAN IS AVAILABLE TO ALL ELIGIBLE COLA EMPLOYEES. $21,169 OF THIS AMOUNT WAS THE EXECUTIVE'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN. DALY: THIS AMOUNT WAS COLA'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN ON BEHALF OF THE EXECUTIVE. THE PLAN IS AVAILABLE TO ALL ELIGIBLE COLA EMPLOYEES. COUSER: $5,874 OF THIS AMOUNT WAS COLA'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN ON BEHALF OF THE EXECUTIVE. THE PLAN IS AVAILABLE TO ALL ELIGIBLE COLA EMPLOYEES. $27,150 OF THIS AMOUNT WAS THE EXECUTIVE'S CONTRIBUTION TO COLA'S GENERAL HEALTH AND WELFARE PLAN. FORM 990, PART VI, SECTION A, LINE 6 COLA HAS THREE MEMBER ORGANIZATIONS: THE AMERICAN MEDICAL ASSOCIATION, THE AMERICAN ACADEMY OF FAMILY PHYSICIANS, AND THE AMERICAN COLLEGE OF PHYSICIANS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER ORGAINZATION MAY APPOINT THREE MEMBERS TO THE COLA BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS BASED UPON FINANCIAL STATEMENTS AUDITED BY AN INDEPENDENT ACCOUNTANT AS WELL AS SUPPORTING AND UNIQUE SCHEDULES SUPPLIED BY COLA MANAGEMENT. INDEPENDENT ACCOUNTANT REVIEWS INFORMATION SUPPLIED BY COLA MANGEMENT AND PREPARES RETURN WHICH IS THEN REVIEWED BY THE TREASURER AND CEO. FINAL DRAFT IS SUPPLIED TO THE FINANCE COMMITTEE OF THE COLA BOARD OF DIRECTORS FOR REVIEW AND DISTRIBUTED TO THE ENTIRE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE COLA BOARD OF DIECTORS HAS A LEGAL AND FIDUCIARY REPONSIBILITY, WHILE ACTING AS A COLA DIRECTOR, TO MAKE DECISIONS EXCLUSIVELY BASED ON WHAT THE DIRECTOR BELIEVES TO BE IN THE BEST INTERESTS OF COLA. NO DIRECTOR SHOULD VOTE OR TAKE A POSITION ON A COLA ISSUE BASED ON PERSONAL INTERESTS OR ON THE INTERESTS OF ANOTHER ORGANIZATION. IF A DIRECTOR BELIEVES THAT THERE MAY BE A PERSONAL OR ORGANIZATIONAL INTEREST THAT MIGHT BE PERCEIVED AS AFFECTING HIS OR HER ABILITY TO ACT IN THE BEST INTERESTS OF COLA OR A PARTICULAR MATTER, THAT ISSUE SHOULD BE DISCLOSED SO THAT THE CONFLICT OR POTENTIAL CONFLICT IS CLEARLY UNDERSTOOD. IF THE DIRECTOR, THE RELEVANT COMMITTEE, OR THE BOARD BELIEVES THAT THE DISCLOSED CONFLICT OR POTENTIAL CONFLICT MIGHT REASONABLY PREVENT THE DIRECTOR FROM ACTING SOLELY IN THE BEST INTERESTS OF COLA ON A PARTICULAR MATTER, THE DIRECTOR SHOULD NOT PARTICIPATE IN THE DISCUSSION OR IN THE VOTE ON THAT MATTER AND IF THE CONFLICT IS GREAT ENOUGH, THEY SHOULD LEAVE THE DISCUSSION. NO CONFIDENTIAL INFORMATION, STRATEGIES OR PLANS RELATING TO COLA SHOULD BE DISCLOSED TO ANY OTHER PERSON OR ORGANIZATION. DISCLOSURE OF SUCH INFORMATION, STRATEGIES, OR PLANS COULD CONSTITUTE A VIOLATION OF THE DIRECTOR'S DUTY OR LOYALTY TO COLA. IF THERE IS ANY QUESTION ABOUT A CONFLICT OF INTEREST OR POTENTIAL CONFLICT, THE DIRECTOR SHOULD ADDRESS THE QUESTION TO THE CHAIR OF THE BOARD OR THE CHIEF EXECUTIVE OFFICER. EACH DIRECTOR MUST ANNUALLY SIGN THE CONFLICT OF INTEREST FORM FOR THE BOARD OF DIRECTORS. ANY CONFLICT OF INTEREST BY A KEY EMPLOYEE (OTHER THAN BY THE CEO) IS REQUIRED TO BE DISCLOSED TO THE CEO, WHEREAS ANY CONFLICTS OF INTEREST INVOLVING THE CEO ARE REQUIRED TO BE DISCLOSED TO THE CHAIRMAN OF THE BOARD. THE KEY EMPLOYEE IS UNDER A CONTINUING OBLIGATION TO DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST AS SOON AS IT IS KNOWN, OR REASONABLY SHOULD BE KNOWN. KEY EMPLOYEES ARE REQUIRED COMPLETE A QUESTIONNAIRE TO FULLY AND COMPLETELY DISCLOSE THE MATERIAL FACTS ABOUT ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE DISCLOSURE STATEMENT IS COMPLETED UPON HIS/HER ASSOCIATION WITH COLA, AND IS UPDATED ANNUALLY THEREAFTER. AN ADDITIONAL DISCLOSURE STATEMENT IS FILED AT SUCH TIME AS AN ACTUAL OR POTENTIAL CONFLICT ARISES. COPIES ARE PROVIDED TO THE CHIEF EXECUTIVE OFFICER OF COLA AND KEPT IN THE HUMAN RESOURCES DEPARTMENT. IN THE CASE OF THE CHIEF EXECUTIVE OFFICER'S DISCLOSURE, THAT STATEMENT IS PROVIDED TO THE CHAIRMAN OF THE BOARD AND CORPORATE SECRETARY. LINE 15A: A COMMITTEE OF THE BOARD, COMPOSED ENTIRELY OF INDIVIDUALS WITH NO "CONFLICTS OF INTEREST" (AS DEFINED UNDER IRS RULES), DETERMINED THE CEO'S COMPENSATION FOR THE REPORTING YEAR. THE COMMITTEE OBTAINED A DETAILED MARKET-BASED COMPENSATION ANALYSIS FROM A CONSULTING FIRM. THIS COMPENSATION ANALYSIS PROVIDED COMPARABILITY DATA FOR POSITIONS COMPARABLE TO THAT OF THE CEO. THIS COMPENSATION ANALYSIS WAS THEN USED BY THE COMMITTEE TO DETERMINE THE APPROPRIATE COMPENSATION FOR THE CEO. DURING THE REPORTING YEAR, THE COMMITTEE DID NOT CONTEMPORANEOUSLY SUBSTANTIATE THE DELIBERATION AND DECISION PROCESS WITH RESPECT TO THE CEO'S COMPENSATION. THEREFORE, COLA IS NOT ABLE TO CHECK "YES" FOR LINE 15A. HOWEVER, PRESENTLY, A FORMAL COMPENSATION COMMITTEE, COMPOSED ENTIRELY OF INDIVIDUALS WITH NO "CONFLICTS OF INTEREST" (AS DEFINED UNDER IRS RULES), IS RESPONSIBLE FOR ESTABLISHING THE CEO'S COMPENSATION AND THAT COMMITTEE KEEPS DETAILED MINUTES TO DOCUMENT CONTEMPORANEOUSLY ALL DELIBERATIONS AND DECISIONS WITH RESPECT TO THE CEO'S COMPENSATION. THOSE MINUTES ARE THEN REVIEWED, CORRECTED IF APPROPRIATE, AND APPROVED AT THE NEXT FOLLOWING COMMITTEE MEETING. LINE 15B: THE SALARY RANGE FOR THE OFFICERS AND KEY EMPLOYEES LISTED ON PART VII HAS A MINIMUM, A MID POINT AND A MAXIMUM POINT. ALL INDIVIDUAL SALARIES MUST FALL INTO THE APPROPRIATE RANGE. TO ACHIEVE THE HIGHEST RETURN OF PRODUCTIVITY ON COMPENSATION, COLA ACQUIRES INDEPENDENT MARKET DATA ON COMPENSATION FOR SIMILAR POSITIONS IN ORGANIZATIONS SIMILAR TO COLA AND UTILIZES THAT DATA TO SET THESE MINIMUMS, MID-POINTS AND MAXIMUMS. THIS MARKET DATA IS DERIVED FROM SOURCES SUCH AS A COMPENSATION STUDY (PERFORMED BY A THIRD PARTY VENDOR), CURRENT HELP WANTED ADVERTISEMENTS (BOTH IN PRINT AND ON THE INTERNET), SALARY SURVEY WEBSITES, AND NETWORKING WITH PEERS. THE REASONABLENESS AND COMPETITIVENESS OF THE COMPENSATION STRUCTURE IS REVIEWED ANNUALLY BY COLA AND IS ADJUSTED WHERE APPROPRIATE. ALL COMPENSATION ACTIONS FOR THE OFFICERS (EXCEPT FOR THE CEO) AND OTHER KEY EMPLOYEES REQUIRE THE APPROVAL OF THE CEO OF COLA, WHO ALSO HAS THE AUTHORITY TO MAKE EXCEPTIONS BASED ON CONSIDERATIONS OF BUSINESS NECESSITY, INTERNAL EQUITY AND EXTERNAL COMPETITIVENESS. THE PROCESS DESCRIBED ABOVE WAS LAST UNDERTAKEN FOR THE FOLLOWING OFFICERS AND KEY EMPLOYEES IN THE YEAR SPECIFIED BELOW: FRENCH, CHIEF COUNSEL: 2007 BOULE, CONTROLLER: 2007 HOPWOOD, COO: 2008 DALY, CMO: 2011 PRESENTLY, THE COMPENSATION PACKAGES OF OFFICERS AND KEY EMPLOYEES WHO ARE "DISQUALIFIED PERSONS" ARE DETERMINED BY A COMPENSATION COMMITTEE, COMPOSED ENTIRELY OF INDIVIDUALS WITH NO "CONFLICTS OF INTEREST" (AS DEFINED UNDER IRS RULES), USING COMPENSATION COMPARABILITY DATA PREPARED BY AN INDEPENDENT CONSULTANT, AND THE DELIBERATIONS AND DECISION-MAKING PROCESS ARE CONTEMPORANEOUSLY SUBSTANTIATED IN DETAILED MINUTES THAT ARE REVIEWED, CORRECTED IF APPROPRIATE, AND APPROVED AT THE NEXT FOLLOWING COMMITTEE MEETING. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -92,222. PART XII, LINE 2C THE FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS.