Acmpe Scholarship Fund Inc.

“The board of directors may at any time appoint an executive committee which shall consist of five or more directors. The members of the executive committee shall be the same persons who serve as the members of the executive committee of mgma-acmpe, provided that such individuals are directors of the corporation. Such committee shall have such powers and duties as may be delegated to it by the board of directors, and each member shall serve for that period determined by the board of directors. The executive committee may be authorized and directed to exercise all the powers and perform all the duties of the board of directors in the interim between meetings of the board of directors provided that it shall take no action inconsistent with specific direction of the board. The committee shall keep regular minutes of its meeting, reporting the same from time to time at the next succeeding meeting of the board of directors, regular or special.”

“The board of directors delegated to the finance committee the review of the form 990. The finance committee reviews the form 990 in detail. After the review, the members of the board of directors receive a copy of the form 990 prior to it being filed.”

“The organization's officers, board of directors, and committee members are required to disclose in writing, on an annual basis, any interests that could give rise to conflicts of interests. If any conflicts exist, the board members recuse themselves from voting on any matters pertaining to the conflict. The organization monitors compliance with the conflict of interest policy by inquiring at each board meeting whether there have been any changes that could give rise to a conflict of interest since the board members signed the annual affirmation.”

“The organization does not have any paid employees, so it does not have a process for determining executive compensation. The top management positions are shared with mgma-acmpe (ein: 45-2766110). The process for determining the executive compensation at mgma-acmpe is as follows: the mgma-acmpe executive committee serves as the compensation committee, and it reviews and utilizes comparability data in this function. The board of directors delegates responsibility for the compensation decision to the executive committee for the ceo's compensation. The organization maintains the necessary documentation as to how the executive compensation is determined. The compensation for other officers and key employees is determined using a similar process. It is based on comparability data, which is reviewed and approved by the ceo. The appropriate documentation is maintained by the organization as to how the compensation is set.”

“The organization posts its audited consolidated financial statements and governing documents on its website. The audited consolidated financial statements, governing documents, and conflict of interest policy are also available upon request.”

“Salaries and wages are paid by mgma-acmpe (ein: 45-2766110), and then allocated to the organization as functional expenses.”

“Consulting: program service expenses 11,521. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,521.”

“Audit net asset adjustments 85,539.”