Hanover College Trustees

“Process to review form 990 the 990 is first reviewed by the controller and then by the vp for business affairs. The 990 will then go to the finance committee of the board of trustees for final review and then to the full board of trustees for final approval. The 990 reviewed by the board of trustees does not list the donors' names, but they can request to see the copy listing the donors. In addition, the organization's accounting firm reviews the form 990 prior to filing.”

“Monitoring & enforcement of compliance with conflict of interest policy the conflict of interest policy is signed annually by the board of trustees, reviewed by the president, and the copies are kept on file in the president's office. If a conflict is found, the interested person shall not be present or participate in the vote on whether to enter into such transaction with the interested person, but may be counted for purposes of determining the existence of a quorum. If the interested person is counted for quorum purposes, the action must be approved by a sufficient number of votes based upon that quorum. For example, if a majority vote of the quorum is required to approve an action, and eight (8) trustees constitute a quorum, the action must be approved by five (5) of the seven (7) disinterested trustees voting on the transaction or arrangement.”

“Process to determine president and officer compensation the president's compensation is reviewed by the board of trustees every two years and documented in the board minutes. Dr. Dewine retired on june 30, 2015 and dr. Lake lambert begain july 1, 2015. The president completes the compensation reviews for each of the officers and keeps the reviews on file in the presidents office. The officer's compensation was last reviewed in the summer of 2016. The policy encourages the application of the rebuttable presumption standard of code section 4958 and the related treasury regulations by (a) excluding any interested party from the decision-making process; (b) requiring disinterested board or committee members to obtain and rely upon comparability data when setting the proposed compensation terms; (c) requiring approval of the transaction in advance by disinterested directors or committee members; and (d) requiring contemporaneous documentation (i.e., minutes) reflecting the decision and the process by which it was made.”

“Availability of governing documents, conflict of interest policy, & fs the organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request. A copy of the governing documents, conflict of interest policy, and financial statements are also kept in the library for public inspection.”

“Compensation compensation on part vii is reported for the calendar year end 12/31/2015 per the instructions to the form 990. Dr. Dewine is reported as an officer on part vii to report the compensation paid to her from january 1, 2015 through june 30, 2015 when she retired.”