Alpha Kappa Psi Fraternity Inc

“Alpha kappa psi fraternity is a member-based organization. Each chapter (regional collection of members) is entitled to a vote for the annual election of board members. This is the only extent to which members participate in the organization's governance. Members have no rights to receive distributions of income or assets from the organization.”

“As discussed on schedule o, part vi, section a, line 6, each chapter of alpha kappa psi fraternity is entitled to 1 vote on the annual election of the board of directors. Each april, the chapters receive a ballot with the individuals running for board election.”

“The fraternity executive committee does meet during the year in executive session, but minutes are not taken.”

“The form 990 is reviewed by the audit committee and is then submitted to the board prior to filing.”

“Alpha kappa psi fraternity's board members and members of management are required to disclose any potential or actual conflicts of interest. Disclosures are required not less than once annually. Any current conflicts with topics on the board meeting agenda are discussed during that meeting. Any and all conflicts are addressed and resolved by the ceo and/or board members.”

“Alpha kappa psi fraternity's executive committee reviews and approves the ceo's annual compensation and bonus plan. Not less than once every 5 years, the executive committee performs a compensation study using external market data. All decisions and deliberation are documented and maintained in accordance with the fraternity's document retention policy. The ceo conducts an annual review of the chief operating officer and determines any salary increases.”

“Alpha kappa psi fraternity makes its governing documents and financial statements available to interested parties upon written request.”

“We are recognized as the premier developer of principled business leaders. Society values the leadership skills instilled in our members and as a result competes to obtain their services. Members view the organization as the primary opportunity for personal and professional leadership development. Our members are influential leaders. They contribute to our continued successes through support of the educational programs sponsored by our organization. The objectives of alpha kappa psi, adopted at the time of the founding, are: 1. To further the individual welfare of its members; 2. To foster scientific research in the fields of commerce, accounts, and finance; 3. To educate the public to appreciate and demand higher ideas therein; and 4. To promote and advance in institutions of college rank, courses leading to degrees in business administration.”

“The organization has an audit committee that is responsible for overseeing the audit and selecting an independent accountant.”