Armstrong Atlantic State University Educational Properties Foundation Inc

“Form 990, part vi, section b, line 11: a copy of form 990 is provided to the finance committee for review and comment several months in advance of the filing deadline. After an opportunity for review and comment, a copy is provided to the entire governing board. After being made available to the finance committee and the governing board, the form 990 is filed unless material comments or questions are raised or revisions are required. If comments are raised or revisions are required, the governing board or finance committee shall recommend steps to timely resolve the matters.”

“The organization requires that each director, principal officer, and committee member with governing board-delegated powers sign a statement at the time elected and annually thereafter to affirm that such person: 1) has received a copy of the conflict of interest policy 2) has read and understands the policy 3) has agreed to comply with the policy, and 4) understands the organization is charitable and in order to maintain its federal tax exemption, it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. Once a potential conflict of interest is disclosed, the governing body excluding the affected party meets to discuss and decide whether a conflict exists. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If the governing board ultimately determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“Form 990, part vi, section b, line 15: the organization requires that compensation arrangements must be approved in advance by the board of trustees or other authorized body of the organization. No participation is allowed by individuals with a conflict of interest or by the person whose compensation is being approved. Prior to making its determination, the governing body shall obtain and utilize appropriate comparability data in establishing the amount of compensation or payment. Examples of such data include industry surveys, compensation documentation of at least three similar positions in similar organizations, expert compensation studies, etc.”

“SAME AS ABOVE”

“The organization maintains at its office the governing documents, financial statements, form 990 and form 1023 which are available for public inspection. Copies of these documents are provided at a reasonable fee for reproduction.”

“To acquire, finance, own, lease and operate campus improvements, educational facilities, residence halls and ancillary facilities for armstrong atlantic state university.”