Picpa Foundation for Education And

“The pennsylvania institute of certified public accountants (institute) board and council are considered members of picpa foundation for education and research (foundation), based on the internal revenue service definition of member.”

“All but three members of the foundation's board are required to also serve on the institute's board. As for the three spots, one spot on the foundation board is filled by the chairman of the education committee and two spots are appointed by the president of the education committee.”

“Any alteration, amendment, or repeal of the bylaws must be approved by a majority vote of the institute council members, in their capacity as cpe members.”

“There are no subcommittees with the authority to act on behalf of the governing body, therefore the irs instructions require form 990, part vi, section a, line 8b to be answered no.”

“The form 990 is prepared by an independent accounting firm and then reviewed by management and the board prior to filing.”

“The organization has a written conflict of interest policy which is reviewed and acknowledged annually by the board members and officers. This written conflict of interest document is provided to each of the above individuals at the first organizational meeting following the installation of the new leadership at the annual meeting. A signed acknowledgment of compliance with the conflict of interest policy is maintained in the organization's headquarters and is monitored and enforced by jennifer cryder, cpa , executive director. If there is a disagreement or uncertainty as to whether or not a conflict of interest exists, a formal determination will be made by the board. All individuals required to sign the conflict of interest policy have an ongoing duty to disclose conflicts of interest as they arise. In the event that an individual above has a personal interest or a conflict of interest that arises, it must be disclosed in writing to the ceo/executive director immediately. Thereafter, that individual shall refrain from any portion of any meeting when these matters are discussed or considered as their presence could inhibit free discussion of the matter. Minutes of appropriate meetings should reflect that such disclosure was made, and that such person was not present during discussions of, and abstained from voting on, the conflict matter.”

“The picpa foundation for education and research does not compensate any persons. All compensation is paid through the related party, pennsylvania institute of certified public accountants.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request. The combined financial statements are also posted on www.picpa.org.”