Wamc

“Description of significant changes to organizational documents: the board bylaws were updated, with the mission added. The board of trustees revised the provision establishing the executive committee and introduced specific requirements for filling vacancies. The president's role was amended to make the president a non-voting member of the board. The executive committee meeting mandate was removed, and a full board of trustees meeting requirement was added. Additionally, committees were revised to include and define the executive committee, compensation committee, and nominating committee.”

“The cpa/preparer reviews a draft copy of the form 990 with wamc's executive committee of the board and any proposed committee changes are completed. Subsequently, but prior to filing, the form 990 is distributed to the entire board.”

“Wamc maintains a conflict of interest policy under which officers, trustees, and key employees are required to disclose annually any interests which might give rise to conflicts. In addition, trustees are required to disclose potential conflicts to other board members at all meetings. Separately, a questionnaire is required by the federal communications commission (on a bi-annual basis) in which trustees are required to disclose conflicts and certain other matters.”

“The executive committee of the board of trustees has the responsibility to set the compensation of wamc's president / ceo and, also, conduct an annual performance review. The committee periodically (no less than every three years) evaluates compensation, and obtains and reviews information on compensation in comparable organizations (see schedule j, part a). The committee also reviews and approves compensation for wamc's other highly compensated employees. Form 990, part vii, section a: dr. Chartock, the former president / ceo of wamc who retired in may 2023, also served as a trustee. His compensation, however, relates solely to his role as president / ceo. No trustees of wamc receive any compensation for their role as an officer and/or trustee.”

“Wamc has a public inspection file, located at its albany office, which contains organizational documents and irs filings. Wamc makes available copies upon request. Wamc's annual form 990 is also available online at www.wamc.org and at www.guidestar.org”

“Wamc's audit committee, which is comprised of independent trustees, assumes responsibility for the oversight of the audit process and selection of the independent accountant.”