Building Fund Cottey College

“Some decisions are subject to approval by the executive board of the parent organization.”

“Copies of Form 990 were provided to each member of the board of trustees and to the audit committee of parent organization prior to filing. A formal review process was conducted with the audit committee, with opportunities for questions from that committee and the board of trustees to be addressed before the return was filed.”

“Conflicts of Interest policies and signature pages are distributed yearly to each member of the board of trustees. Signature pages are collected at the office in Des Moines, Iowa and monitored for completion. Any conflicts of interest that arise pursuant to this process or otherwise throughout the year are to be reported immediately and the remaining members take the appropriate action.”

“The organizations Executive Director is employed by the related parent organization, International Chapter of the P.E.O. Sisterhood, and the organization shares her services with International Chapter. The International Chapter explains on its Form 990 the process of determining the Executive Directors compensation.”

“A similar arrangement exists for the Director of Finance/Treasurer as explained for the Executive Director. (See Part VI, line 15a explanation)”

“Governing documents, conflicts of interest policies and financial statements are available to members of the parent corporation only. These items are not available to the general public.”

“The Executive Director and Director of Finance/Treasurer of the parent organization, International Chapter of the P.E.O. Sisterhood, also serve in the same capacity for the reporting organization. An estimate of average hours worked each week for reporting and related organizations has been included in column (B). No wages are paid or reimbursed for either officer from the reporting organization. All wages and related benefits for these individuals are paid and reported by the parent organization.”

“The organizationss modified cash basis financial statements were audited by an independent auditing firm on a consolidated basis with the other philanthropic funds of the P.E.O. Sisterhood, excluding Cottey College and the P.E.O. Foundation. (Listed on Schedule R, Part II)”