Southwestern Automated Clearing House Association

“The members of epayresources approve significant decisions of the governing body.”

“Verbal reports of committee actions such as the audit committee or compensation committee are made to the board at its regular meetings. These reports are then documented in the minutes of the board meeting. The executive committee has the authority to act between board meetings and, if actions are taken between meetings, those actions are reflected in minutes of the executive committee.”

“The board of directors does not review the 990 prior to being filed. The information for form 990 is reviewed in detail by the president and ceo and the person responsible for the financial records prior to submission to an independent tax preparer. The completed 990 is also reviewed by the same two parties prior to filing.”

“The governing body member annual questionnaire will be completed on an annual basis to identify any potential conflicts of interest.”

“A comparative analysis of the chief staff officer is performed annually using information from the salary surveys of the american society of association executives (asae). A matrix is prepared that analyzes the salary of comparable ceos relating to staff size, annual operating budgets, industry served and geographic location. The matrix contains the average, median, lower quartile and top quartile of total ceo compensation. The board of directors reviews this matrix and approves the ceo total compensation package. A comparative analysis of the organization's officers was performed in 2015 using information from the salary surveys of the american society of association executives (asae). A matrix was prepared that analyzes the salary of comparable positions. The matrix contains the average, median, lower quartile and top quartile of total officer compensation. The board of directors reviewed this matrix and approves the officers' total compensation package.”

“All documents are made available for inspection in our offices upon request.”

“Change in investment in epayadvisors, inc. -135,513. Net assets transferred from eastpay, inc. 2,074,505.”

“The oversight and selection process has not changed from prior tax years.”

“Effective august 1 2016, southwestern automated clearing house association (surviving organization) and eastpay, inc. Merged, and the surviving organization was renamed epayresources. The plan of merger states that "the assets, liabilities, reserves, and accounts of eastpay, inc. Shall be taken up on the books of the surviving organization at the amounts at which they are then carried on the respective books of eastpay, inc." as per the plan of merger, eastpay, inc.'s net asset balance as of the date of merger were transferred to the surviving organization.”