Nasba Center for the Public Trust

“The Bylaws of the organization specifies that there is one member. The National Association of State Boards of Accountancy, Inc. (NASBA) is named as the sole member.”

“From the Bylaws: CPT is a membership organization and shall have one member. The sole member shall be the National Association of State Boards of Accountancy, Inc. Directors are elected by the member.”

“From the Bylaws: Certain decisions are reserved to the member or approval is required by the member for Board of Director decisions. These include, but are not limited to, termination of CPT, election of Directors and the election and removal of officers.”

“The management and staff of the organization prepared Form 990 and it is reviewed by the governing Board of Directors. The form is made available to the Board in electronic format to review and for comment prior to filing. Any changes deemed necessary are made prior to the return being filed.”

“Annually every Director, officer and employee is required to sign a compliance statement which states that they have read and understand the conflict of interest policy and that they are in full compliance with the policy. Any exceptions to the policy are noted on the statement. All conflicts of interest are disallowed without prior approval of the President. In addition, new vendor relationships are reviewed during the year to determine if any conflicts of interest exists.”

“The NASBA Executive Compensation Committee (Compensation Committee) is comprised of the Past Chair, the Chair, the Vice Chair, the Secretary and the Treasurer. These Compensation Committee members are disinterested directors who are subject to NASBA's Conflict of Interest Policy. The Compensation Committee assesses and determines compensation for NASBA's President and Chief Executive Officer (CEO), ensuring that his or her compensation aligns with NASBA's mission and values, its compensation philosophy, its bylaws, extant contracts and governing law. To ensure the competitiveness of the compensation of the CEO, the Compensation Committee undertakes an annual process that includes reviewing comparable data and reports prepared by external consultants. In addition, the external consultants provide a reasonableness letter regarding the CEO compensation. All compensation deliberations and decisions regarding the CEO are contemporaneously documented in the Executive Committee/Compensation Committee minutes. The Board of Directors has final approval authority over the compensation of the CEO. Documentation of the compensation decision is provided to the Chief Financial Officer and Chief Human Resource Officer.”

“Currently the organizations governing documents, conflict of interest policy and financial statements are available to the officers, directors, member of the organization and others upon request.”

“The staff of CPT are employed by National Association of State Boards of Accountancy (NASBA), a related company. CPT reimbursed NASBA for the cost relevant to the time spent on CPT activities. Since CPT did not issue any W-2s, column (D) is reported as zero. The amount reported in column (E) represents the amount reported by NASBA on the W-2 Box 5 for each person listed. The compensation for CPT's officers, relevant to the time spent on CPT activities, is provided by NASBA in the form of an in-kind donation.”

“The staff of CPT are employed by National Association of State Boards of Accountancy (NASBA), a related company. CPT reimburses NASBA at cost for the time spent on CPT activities.”

“CPT held a golf tournament fundraising event in May 2025. Donor acknowledgments will be sent in January 2026 to the donors stating the donation amount received and the value of the benefits received by the donor.”