Montgomery County Community College Foundation

“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.”

“Purpose: The Board of Trustees of Montgomery County Community College is committed to the principles of integrity, good faith and fair dealing, and professional accountability in all its dealings on behalf of the College. Accordingly, the purpose of this policy is to provide guidance to members of this Board with respect to any conflict of interest experienced by the totality of any outside interests, concerns and relationships held by any individual member. Policy: A conflict of interest may exist whenever the outside interests, concerns or relationships held by a member of the Board of Trustees, compromises, or appears to compromise, that member's fiduciary duty to the College. In the course of doing College business, actual and potential conflicts of interest on the part of an individual Board member's outside interests, concerns and relationships, must be disclosed to the Board as a whole. This disclosure of outside interests, concerns and relationships should be updated annually by each member of the Board of Trustees. When a potential conflict of interest, previously disclosed, is subsequently relevant to a matter immediately before the Board, it is expected that the Board member will bring it again to the attention of the Board as a whole. Procedure: Members of the Board of Trustees will disclose any potential conflict of interests through the completion and submission of a written questionnaire on an annual basis. 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: A. immaterial or not adverse to the interests of the Foundation; or B. 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. The policy is reviewed by the Administration and if changes are required, those changes would be approved by the Foundation Board.”

“Montgomery County Community College has the responsibility 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 for each grade. The candidate is reviewed by Human Resources based upon their knowledge, degree and experience. Human Resources then recommends to the hiring party a compensation package that is within the salary range for the position. There are several levels of review and approval with the board ratifying 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.”

“Karen stout is the past president of montgomery county community college and remains a board member of the foundation. Compensation reported for her on part vii, represents her 2015 calendar year wages from the college - she was not employed by the college during fiscal year 2016.”