Nercomp Inc.

“The organization's bylaws were amended on june 17, 2021 to define members of the organization as state, municipal, and for profit institutions of higher education as well as nonprofit organizations.”

“The organization has a single class of members. Members include higher education institutions and nonprofit organizations.”

“The members of the organization have the power to elect the organization's board of trustees.”

“The decision to amend the bylaws of the organization is subject to approval by the organization's members, via a majority vote.”

“The form 990 is prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, and is ready to be filed with the internal revenue service, it is electronically sent to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

“Trustees, officers, and employees provide a signed conflict of interest statement annually, disclosing his or her real, potential or perceived conflicts of interest. Such members must also make interim written disclosure of any such conflicts they become aware of during the year. Individuals having conflicts of interest must abstain from discussion of matters relating to the conflict at the next board meeting and must not use their personal influence in any decision regarding the matters relating to the conflict. The minutes of any such board meeting must reflect the disclosure that was made regarding the conflict and the abstention from discussion.”

“The organization's process for determining the compensation of officer/staff compensation includes comparability data from similar-sized organizations and board discussion. The process occurs annually prior to the july 1st pay period.”

“The organization's governing documents, conflict of interest policy and financial statements are available upon request by contacting the organization.”

“The organization has a committee that assume the responsibility for oversight of the audit and selection of an independent accountant. The process has not changed from the prior year.”