Mountain State University Inc

“The form 990 is reviewed prior to filing by all board members remaining at 5/15/2015.”

“All officers, directors, and key employees are required to complete a conflict of interest questionnaire annually. No officer, director, or key employee will enter into any outside business activity with the organization without first notifying the organization of the individual's personal or financial interest in the activity and without first obtaining ratification from the executive committee of the organization's board of trustees. The organization's policies and procedures require board members to disclose conflicting relationships, and these relationships are analyzed on a case-by-case basis. Individuals, who may directly or indirectly, benefit from any contract in which the organization seeks to enter into must fully disclose such interest to the board prior to the organization entering into said contract. Further, any trustee, officer, board committee participant, employee, or other person authorized to vote must abstain from any vote that relates to a personal financial or other business interest.”

“A regular analysis of executive compensation is performed. The analysis was completed in june 2011 by mcconnell and company. They provide reports for the board's compensation committee to use when making compensation decisions. Every two or three years, the msu board of trustees selects a company that specializes in the evaluation of executive compensation to conduct an executive compensation study to determine if the compensation of the president and executive staff are within market range. These companies follow the standard practice of selecting peer institutions for msu based on the nsse and ipeds data. Factors for selection of peer include enrollment, private institutions, and delivery modalities. The compensation of the president and all executive staff are reviewed to determine if their compensation in within the market ranges compared to peer institutions.”

“The organization may make its governing documents, conflict of interest policy, and financial statements available to the public on a case-by-case basis.”

“On june 28, 2012, the high learning commission (hlc) of the north central association of colleges and schools, the university's accrediting body, voted to withdraw the university's accrediting body voted to withdraw the university's accreditation effective august 27, 2012. The university submitted a formal appeal. On december 18, 2012, the appeals panel rendered their decision to uphold the ruiling of the hlc to withdraw the accredittaion of the university effective december 31, 2012. The university has entered into a memorandum of understanding with the university of charleston (uc) that formally identified uc as the official teach-out partner for the university. The plan was submitted and approved by the hlc. The plan contemplates the transfer of all remaining assets to uc once the university has resolved all liabilities and officially dissolved as a corporation. Mountain state university, inc. Has ceased all major operations effective december 31, 2012 and is in the process of liquidating assets and paying liabilities.”

“Equity changes between related entities 214,827.”