Cambridge College Inc.

“Form 990, part v, line 1a the amount listed has been reduced by the number of forms 1098-t that were filed. The organization filed 2,971 forms 1098-t.”

“Form 990, part vi, section a, line 1a the board of trustees may choose to establish from among its members an executive committee. If established, the executive committee shall consist of the chairs of all standing board committees, as described in section 4.13(a), and the officers of the board. The chair shall act as the chair of the executive committee, and the vice chair shall act as vice chair of the executive committee. The president shall serve as a member of the executive committee, ex-officio, with vote. The executive committee shall have the authority to act for the board of trustees to address routine business between regular board meetings; it shall assist and advise the chair and the president in their responsibilities to help the board of trustees function effectively and efficiently; and shall have the authority to act for the board of trustees on all matters except for the following, which shall be reserved for the board: selection and termination of the president; adoption of the annual budget; selection and removal of trustees or officers appointed by the trustees; incurring of substantial indebtedness on behalf of the college; capital expenditures that require approval by the board under applicable board of trustees policy; relocation of the college or major decisions pertaining to the principal office of the college; and any actions which require by law the vote of the board, including amendment of the articles of organization or the bylaws; merger or consolidation of the college; dissolution of the college; or the initiation of bankruptcy proceedings.”

“Form 990, part vi, section b, line 11b the 990 was prepared and reviewed by a national accounting firm using information provided by the controller. The form is subsequently reviewed by the assistant controller and vp of finance and administration, as well as the president. Prior to filing, a copy of form 990 was provided to the entire board of trustees.”

“Form 990, part vi, section b, line 12c the college uses a conflict of interest disclosure form to monitor compliance with the conflict of interest policy. Annually, officers and directors are required to complete the disclosure form. The process is administered by the trustees and governance committee with assistance from the office of the president. Effective implementation of this policy requires, first, the full disclosure of individual interests that might conflict with the best interests of the college. Second, the trustees, officers, employees, and other representatives who have disclosed a potential conflict of interest shall refrain from participating in the college's consideration of any proposed business or financial relationship in which he or she is interested, except to respond to questions or to provide further information. If a transaction or relationship requires a vote, the interested party should not be present at the time of the vote.”

“Form 990, part vi, section b, line 15 the executive committee of the board of trustees serves as the compensation committee. When determining the president's compensation, human resources provides a compensation analysis for similarly situated presidential salaries. A written contract is negotiated and the employment and compensation package is then approved by the board of trustees.”

“Form 990, part vi, section c, line 19 cambridge college makes available copies of its by-laws, conflict of interest policy, and financial statements to the general public upon request.”

“Form 990, part xi, line 9 change in value of split-interest agreement $(22,076)”