Michigan Virtual University

“The corporation shall have a board of directors that shall serve as the governing board of the corporation, which shall manage the business, property and affairs of the corporation. The mvu board of directors consists of at least eleven members representing government and education and the private sector. The number of persons representing government and education shall be at least six, with at least five persons representing the private sector who have an interest in the virtual learning programs established by the corporation. The number of persons representing the private sector is always less than the number of persons representing government and education. The board of directors officer positions are elected during the annual fall board meeting. The chairperson rotates in odd-numbered years between an individual representing educational interests and a business representative from the private sector. Each director holds office for three years with terms of office arranged to accomplish staggered terms of office across the board as a whole.”

“The 990 is received by the organization's president/ceo who reviews the return for accuracy. Upon the president/ceo's approval, the 990 is made available to the board of directors in electronic format. After any concerns presented by the board are addressed, the president/ceo signs and files the return.”

“Each board member, officer and employee shall annually sign a statement that affirms such person: a) has received a copy of the conflict of interest policy; b) has read and understands the policy; c) has agreed to comply with the policy; and d) understands mvu is a nonprofit organization and in order to maintain its federal tax exemption it must engage primarily in activities that accomplish one or more of its tax-exempt purposes.”

“Compensation is determined by use of a specialty software designed to evaluate and compare salaries of similarly positioned individuals with comparable qualifications. The recommendation is passed to the board and the final decision is made and documented.”

“All information is available upon request. Form 990 is also posted annually on guidestar's website. Michigan virtual university is registered to solicit in the state of michigan and provides form 990 to the michigan attorney general's office where it is public information.”

“Michigan virtual university has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the prior year.”

“Employer identification number: 38-3414105 for the year ending september 30, 2015 michigan virtual university, hereby elects, pursuant to irc sec. 168(k)(2)(d)(iii), not to claim the additional 50% depreciation allowable under irc sec. 168(k) for the following qualifying property placed in service during the tax year ending september 30, 2015. All property in the 3, 5, 7, and 10 year classes. See attached form 4562.”