Montgomery County Community College

“The final 990 will be presented to the board finance committee for review. The full board will receive a copy of the 990 prior to filing.”

“Article v conflicts of interest section 1. Policy and definitions a. Policy. The board of directors shall adopt, maintain and, from time to time, amend a policy ("conflicts policy") of the foundation with respect to the potential or actual conflict of interest of a member of the board with respect to the foundation. B. Definitions (1) a "conflict of interest" may arise when a member of the board has a direct or indirect "financial interest" in an issue, decision, policy or transaction of, with and/or contemplated by the foundation; (2) a person has a "financial interest" if he or she has, directly or indirectly, through business, investment, or family (i) an ownership or investment interest in any entity with which the foundation has or contemplates a transaction or arrangement; (ii) a compensation or remuneration arrangement with any entity or individual with which the foundation has or contemplates a transaction or arrangement; or (iii) a potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the foundation is negotiating a transaction or arrangement; (3) "compensation" includes direct and indirect remuneration as well as substantial gifts or favors; (4) an "interested person" is a director who has a direct or indirect conflict of interest; and (5) a "related person" of a director means (i) the spouse, parent, child, grandparent, grandchild, or sibling of such person, by blood, marriage or adoption, or any person with whom such person resides; or (ii) any entity with respect to which any one or more persons described in clause (i) serves as a director, officer, member, manager, partner, proprietor, venturer, trustee, executor, administrator, custodian, employee, agent, representative or in any similar capacity. Section 2. Duty to disclose and related duties. A. No director may use information that is proprietary or confidential or otherwise not generally known to the public that is made available to such person by virtue of his or her position as a director for their personal advantage or that of any related person. No director may accept any service, discount, concession, fee for advice or service or thing of value from any person or organization with an interest in an issue, matter or transaction in which the foundation also has an economic or programmatic interest under circumstances that would suggest an obligation on the part of the director to exert any influence on the board to enter into a transaction or adopt, alter or abolish any policy or position. B. An interested person shall immediately disclose to the board each actual or potential conflict of interest affecting such interested person. Each director shall, upon becoming aware of another person's actual, potential or suspected conflict of interest, where such conflict of interest has not been disclosed fully to the board, bring such conflict of interest or suspicion thereof to the attention of the board. C. After determining that a conflict of interest exists, the affected interested person shall withdraw from any further involvement in the issue, matter or transaction causing the conflict of interest unless a majority of the disinterested directors determine that the conflict of interest is (i) immaterial or not adverse to the interests of the foundation; or (ii) the benefits of allowing the affected interested person to participate in the discussion or consideration, but not the final decision, outweigh the dangers; in which case the affected interested person may participate in the discussion, study or consideration of the issue, matter or transaction, but not the final decision. Section 3. Procedures for determining whether a conflict of interest exists. A. A director who is uncertain as to whether he or she may have a conflict of interest shall disclose, in writing, all material facts related to such potential conflict of interest to the executive director of the foundation, and request a writte”

“Montgomery county community college has the responsiblity of determining compensation of the officers and key employees. The college solicits a third party consultant, the hay group, who develops a matrix of grades. Each grade has a minimum, midpoint, and maximum. The candidate is reviewed by human resources based upon their knowledge, degree, and experience. Human resources then recommends to the hiring party a written compensation package that includes the salary range for the position. There are several levels of review and approval with the board to ratify the position. A general statement appears in the board minutes when a position has been ratified based on background documentation provided prior to the meeting.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“These funds were redirected to the pennsylvania center for employee ownership, a 501(c)(3) organization.”

“There were no changes to this process from the prior year.”