Southwestern Automated Clearing House Association

“The organization made a change to provide meeting notice of no less than 30 days (up from 10) nor more than 120 days (up from 60). The organization made a change to allow for a director leaving employment from a member financial institution and seeking employment with another financial institution up to 120 days to bridge that gap of employment while still being able to serve on the board with one additional extension not to exceed an additional 120 days (240 total).”

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

“Documentation of meetings held 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.”

“Form 990 review 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 the person responsible for the financial records after submission by an independent tax preparer. The completed 990 is also reviewed by the same two parties after filing.”

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

“Determination of compensation a comparative analysis of the chief executive 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 2021 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.”

“Availability of documents all documents are made available for inspection in our offices upon request.”

“Change in investment in epayadvisors, inc. Change in investment in epayadvisor 40,680.”

“Committee's oversight and selection process the organization has a committee that assumes responsibility of the oversight of the audit and selection of an independent accountant. There was no change to the process during the year.”