National Association of Educational Procurement Inc

“Association managment contracted out to MCI USA starting May 1, 2021.”

“Beginning in 2024, the organization amended its bylaws to align with operations, dissolving the group exemption of its regions, which are unincorporated chapters. Chapter assets and accounts are owned and controlled by the organization; the management and updated accounting reflect that.”

“The organization has members. Voting membership in the Association is limited to educational institutions of higher education and private college preparatory schools. Non-voting membership includes Associate Members, Individual Members, and Business Affiliates.”

“Each voting member shall have one vote in the affairs of the Association, which shall be cast by the voting member's designated representative. The members shall take action by the affirmative vote of a majority of voting members present and entitled to vote, in person or by proxy, on the action except where a different vote is required by law, the certificate of incorporation, or the Bylaws. Notwithstanding the preceding sentence, directors are elected by a plurality of the voting members present and entitled to vote, in person or by proxy, at a meeting at which a quorum is present, and district directors are elected by plurality of the voting members of the district present and entitled to vote, in person or by proxy, at a meeting at which a quorum is present, unless the Articles of Incorporation have provided otherwise. Associate membership, individual membership and business affiliates can neither vote nor serve as an officer or director of the Association.”

“The governing body has annual meetings and special meetings. During these meetings the voting members are present and they are entitled to cast a vote regarding the subject matter.”

“The independent accountant prepares an initial draft of 990 based upon the audited financial statements and information provided by management. This initial draft is then reviewed by the management. After this review, any edits or updates are made by the independent accountant and a revised draft is provided to the organization. This draft is then shared with the Finance & Audit Committee for review. After any Finance & Audit Committee edits are incorporated into the 990, the final 990 is then provided to the full Board of Directors. The Board is given 10 days to review and provide any questions or comments. After the 10 day Board review period, the 990 is filed with the IRS.”

“Officers, directors and employees are required to annually disclose any interests that could give rise to conflicts. The conflict of interest policy is monitored on a regular basis.”

“The Board of Directors reviews and approves the compensation for the Executive Director. The Association has no other compensated officers or directors. The Association has no employees that meet the key employee definition.”

“The organization makes governing documents available through their website. The Conflict of Interest Policy and the financial statements are available to the public upon request.”

“National Association of Educational Procurement, Inc., (NAEP) is a professional association serving colleges and universities nationwide. NAEP was organized in 1921 to provide a forum where campus purchasing professionals might share valuable information. NAEP is dedicated to serving higher education by providing specialized information to those with purchasing responsibility. NAEP's mission is to advocate the development, exchange, and practice of effective and ethical procurement principles and techniques within the higher education community through continuing education, publications, and networking opportunities.”

“Net Assets transferred from Subordinates upon group dissolution 1,277,212. Agency funds disbursed -30,120.”