Cambridge Credit Counseling Corp

“Bppc prepares an officer's tax return”

“After the prepared return has been approved by the cfo and the president, it is submitted to each member of the board of directors accompanied by a document titled board review of form 990. This accompanying document, prepared by the cfo, draws the board's attention to the information they need to focus on in order to meet their oversight responsibilities. They are presented with the opportunity to ask questions prior to the return being filed.”

“After the prepared return has been approved by the cfo and the president, it is submitted to each member of the board of directors accompanied by a document titled board review of form 990. This accompanying document, prepared by the cfo, draws the board's attention to the information they need to focus on in order to meet the oversight responsibilities. They are presented with the opportunity to ask questions prior to the return being filed. Form 990, part vi line 12c - explanation of monitoring and enforcement of conflicts annually, the chairman of the board discusses the conflict of interest policy with the board members and corporate officers and requests completion of a conflict of interest statement including any existing or potential conflicts of interest. Conflicts disclosed are reviewed by the chairman of the board and the chair of the governance committee. Any additions to potential or actual conflicts of interest would be communicated to the president of the company for monitoring proposed and on-going transactions during the year. If there are potential transactions that would create a conflict of interest, the board member with the conflict is prohibited from voting on the issue. Currently, all board members and corporate officers are covered by the policy.”

“The executive compensation committee of cambridge credit counseling corp. Currently consists of 4 independent members of the board of directors. A compensation study was conducted comparing executive salaries at cambridge with those of several other regional and national non-profit credit counseling agencies. The information was compiled from publicly available information from the most recent 990s posted through guidestar.orgthe executive compensation committee developed a set of salary recommendations to put before the full board of directors. The board of directors took up these recommendations at the next scheduled board meeting. The executive compensation committee takes into account market conditions and the organization's financial condition when salary recommendations are put before the board for compensation.”

“Governing documents and conflict of interest policy are made available on our website for the general public to view.”