MID-Atlantic Region Commission on Higher Education

“All member institutions vote for individuals who are selected to be on the governing body (commissioners).”

“The form 990 is reviewed by the marche finance comittee which comprises the corporate treasurer (a commissioner), three other commissioners, the president of marche, and the senior director for finance & administration.”

“The commission has a conflict of interest policy for corporate actions. Once each year, all commissioners and senior staff must sign a disclosure statement indicating that they have or do not have a current conflict of interest. At regular intervals, the commission conducts a review which includes the following:(i) whether compensation arrangements and benefits paid by the corporation to the commissioners, corporate officers and senior management employees are documented in writing, reasonable, not in excess of fair market value, and the result of arm's length bargaining; (ii) whether the corporation's acquisitions result in any private inurement or impermissable excess benefit to an interested person; (iii) whether partnership or joint venture arrangements and arrangemnents with other service organizations conform to written policies, are properly documented, reflect reasonable payment for goods and services, further the commission's charitable purposes and do not result in private inurement or impermissable excess benefit to an interested person; (iv) whether arrangements with other providers, employees, and third party payers further the commission's charitable purposes and do not result in private inurement or impermissable excess benefit to an interested person,”

“The executive committee which functions as the corporation's compensation committee engages quatt associates in washington, d.c. To survey the compensation paid to the presidents of similar non-profit organizations. A survey is done every two to three years.”

“The organization's governing documents, conflict of interest policy and financial statements are made available to the public upon request.”

“The board of directors assumes the responsibility for oversight of the audit of its financial statements and the selection of an independent accountant. This process remains unchanged from the prior year.”