Peirce College

“The form 990 was prepared by a nationally renowned accounting firm in conjunction with the organization's finance department. The form is then submitted to an audit, risk & compliance committee of the board for approval. A copy of the draft 990 is then circulated to the full board of trustees for discussion and comment prior to filing with the internal revenue service.”

“Conflict of interest policy monitoring & enforcement: annually the college requires each employee, inlcuding the president/ceo and other key employees, to complete and sign a conflict of interest questionnaire to determine if the employee has a relationship, financial interest or business affiliation that could result in a conflict of interest. Employees are required to update their disclosure if at any time their circumstances change. These questionnaires are returned to human resources for review to determine if any further action is required. Annually the college requires each trustee, including trustee officers, to complete and sign a conflict of interest questionnaire to determine if the trustee has a relationship, financial interest or business affiliation that could result in a conflict of interest. Trustees are required to update their disclosure if at any time their circumstances change. These questionnaires are returned to the board secretary for review by the office of the president to determine if any further action is required. If a potential conflict of interest is identified, the following procedures are followed: (a) an interested person may participate in a board or committee meeting, but after the presentaton, he/she must leave the meeting duirng the discussion of, and the vote on, the business relationship involving the possible conflict of interst. (b) the chairperson of the board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to that proposed business relationsip. (c) after exercising due diligence, the board or committee shall determine whether the college can obtain with reasonable efforts a more advantageous business relationship from a person or entity that would not give rise to a conflict of interest. (d) if a more advantageous business relationship is not reasonably possible under circumstances not producing a conflict of interest, the board or committee shall determine by a majority vote of the disinterested trustees if the business relationship is in the college's best interest, for its own benefit, and if it is fair and reasonable. Based on that determination, the board or committee will decide whether or not to enter into the business relationship.”

“Line 15a, process for determining compensation: mary ellen caro was elected president and ceo of peirce college in april of 2018. The compensation established for caro was determined as a result of a compensation study commissioned by the board of trustees in 2017 as part of the presidential search. The compensation data was compiled using information from other colleges and universities as a guide in determining reasonable compensation for the president position. After reviewing that data, the compensation was determined to be reasonable by independent members of the board and contemporaneously documented in the meeting minutes. Line 15b, process for determining compensation: the compensation for the key employees of peirce college was determined by local and regional market surveys and information and data from local and regional publications and papers. This information, along with internal equity, determine the basis hire-in salary of key employees. Annually, key employees are evaluated by the president using a performance review which is the standard review used by all employees throughout the college. This process also determines the percent of merit increases received. The merit increase percentages are determined as part of the budget process and the level of percentage increases given to the key employees is based on the scoring outcome of their performance review.”

“How documents are made available to the public: the college makes its form 990 available to the public by reserving a copy at its place of business. The form 990 is likewise published on the internet at www.guidestar.org. The organizaton's governing documents and conflict of interest policy will be made available to the extent required by law.”

“Description of organization mission: peirce colleges is a private accredited institution offering certificates/associate/bachelor/master degrees in career oriented programs geared towards adult learners.”

“Organization's mission: peirce college empowers adult learners to improve their lives by achieving career goals through academic offerings aligned with evolving workforce needs.”

“Program service: founded in 1865, peirce college is a private institution providing practical leading-edge curricula to primarily working adult learners. The college awards master, bachelor, and associate degrees as well as certificates in business, health care, information technology, liberal studies and legal studies. Peirce college offers its programs on campus at its center city philadelphia location and online through web based distance learning. Peirce college is accredited by the middle states commission on higher education.the bachelor of science, associate of science and the certificate of proficiency in paralegal studies are recognized and approved by the american bar association (aba). The accreditation council for business schools and programs (acbsp) accredits peirce college's bachelor, associate and certificates of proficiency in business administration and accounting.”