Chesnut Hill College of the Sisters of St. Joseph

“The members of the organization are the general council of the congregation of the sisters of saint joseph. They have the same voting rights as the other board directors.”

“The general council of the congregation of the sisters of saint joseph reserve the right to elect the members of the board of directors.”

“The members may initiate and implement any proposal with respect to any of the following, and, if any proposal with respect to any of the following is otherwise initiated, it shall not become effective unless approved by the members: (a) to adopt or change the mission, purpose, philosophy or objectives of the corporation or to change the general structure of the operation of the corporation as a voluntary non-profit corporation for education; (b) to amend the corporation's charter, certificate or articles of incorporation, or bylaws; (c) to dissolve, divide, convert, liquidate or wind up the corporation, or consolidate or merge the corporation with another corporation or entity; (d) to sell all or substantially all the assets of the corporation; (e) to elect the members of the board of directors of the corporation; (f) to approve principal officers of the corporation; and (g) to effect any transfer or encumbrance of corporate property which requires approval pursuant to canon law.”

“The form 990 and all accompanying schedules are prepared and reviewed by the college's external audit firm. After the initial review by management, the form 990 is then distributed to the audit committee members for their review and approval. The full board of directors receives the return prior to the return being filed with the internal revenue service.”

“The college has a substantive written conflict of interest policy that covers board members and any other individual considered an interested person. Board members, officers, and key employees sign an annual conflict of interest statement which includes comprehensive questions on family and business relationships. All statements are reviewed by the board secretary. Any potential or actual conflict is fully disclosed by the secretary to the membership committee, who will determine whether or not the transaction is in the best interest of the organization. The interested party is excluded from all discussions and decisions related to the conflict.”

“The process for determining the compensation for the college president and the officers is documented in the college's "process for determining compensation" policy. The president of the college, a sister of st. Joseph, receives no direct compensation. A portion of the president's salary is remitted to the congregation of the sisters of saint joseph of philadelphia. The board of directors approves the fiscal year budget which contains the total compensation amount for the year. The president and senior vice president for financial affairs determine the salaries of officers and other college employees based on the budget and market data from comparable institutions. The organization uses cupa salary data to verify any compensation decisions are within fair market range for the industry. The executive committee of the board of directors periodically reviews the college president's salary and documents its review in committee minutes. Specific discussions on compensation are not recorded in board minutes, however, compensation is a component of the budget which is fully documented.”

“Governing documents, conflict of interest policy, and financial statements are made available to the public upon request at the college's accounting office.”

“Change in life insurance csv 22,368.”