Private Academic Library Network of Indiana Inc.

“The significant changes that took place in the governing docs are as follows: in the bylaws the removal of ancilla college from the list of supported organization with it being replaced by saint mary-of-the-woods.”

“Classes of members or stockholders palni's membership are made up of supported organizations. All members have the right to elect members and officers of the governing body. The members also approve significant decisions such as annual budgets, elections, dissolutions, and changes to the governing documents. Upon dissolution of the organization, the net assets could be transfered back to the remaining membership.”

“There is one class of membership consisting of appointees of the supported organizations. This class elects members of the governing board annually. All members have one vote.”

“Decisions subject to approval of members: there is one class of members who have the right to appove decisions by the governing board consisting of the supported organizations. This class of members makes decisions such as electing the governing board, approving dissolution of the organization, approving any changes to the governing documents, and approving the operating budget of the organization. All members have one vote.”

“A complete copy was provided by electronic form to the treasurer and the executive committee. The executive committee has been granted authority by the governing board to review and approve the form 990 prior to filing. After the treasurer and the executive committe have reviewed the form 990 the return is signed and filed with the irs.”

“Palni reviews their conflict of interest policy annually and all members are required to disclose any conflicts. If conflict arises the appropriate chair may appoint a disinterested person or committee to investigate alternatives to the proposed arrangement or transaction. If a more advantagous transaction is not attainable the committee must determine if the transaction or arrangement is in palni's best interest and for its own benefit. The person with the conflict may not be present or participate in the vote.”

“Palni annually reviews the compensation of the executive director. The review is conducted by palni's executive committee by reviewing performance and events through out the year. A salary review of similar or like organizations is included in the executive compensation review. After the review process, any changes in compensation is recommended and is available for the entire executive committee for their approval. Once approved the decision is documented in meeting minutes.”

“Forms 1023 and 990 as well as financial statements, governing documents, and conflict of interest policy are available to the public upon request.”