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 policy 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 interest 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 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.”

“The organization has a committee that assumes responsibility for oversight of the audit and selection of an independent accountant and these processes have not changed during the tax year.”