The Alumni Association of the University of North Carolina at Greensboro

“A member of the association is principally defined as an individual who has attended the university of north carolina at greensboro, the womens college of the university of north carolina, the north carolina college for women, the state normal and industrial college, or the state normal and industrial school (hereafter in this section referred to as the institution). Any person who has earned a degree or certificate from the institution is eligible. As an alumni member any individual who has attended but not earned a degree or certificate from the institution is eligible as an associate member. Any individual who did not attend the institution but chooses to affiliate with the association by donating to the alumni association program endowment fund via the lifetime or sustaining programs shall be considered an associate member. Lifetime and sustaining giving levels are set periodically by the alumni association board of directors. Membership in the association shall be available without regard to race, sex, color, creed, national origin, or sexual orientation.”

“The nominating committee shall prepare a slate of candidates for election as officers and directors and shall secure the consent of its nominees to serve if elected. The membership shall be notified of nominations at least 30 days prior to the annual meeting. Directors of the association shall be elected by the association for terms of three years with one-third to be elected each year. Directors, having served a full term, may succeed themselves to the same position for one additional term. Election of officers and directors shall take place at the annual meeting. Nominations shall be permitted from the floor at the annual meeting. All nominees, whether nominated by the committee or from the floor, shall be members who have given consent to the nominations. Only alumni members may hold office in the association.”

“The 990 was prepared by an independent accounting firm and reviewed by the finance committee. After finance committee review, the full board receives electronic copies of the 990 and votes on approval via electronic balloting.”

“At the beginning of each year, board members are required to sign a "code of ethics and conflict of interest policy" statement to disclose any relevant facts that might give rise to a conflict of interest with respect to any matter to be considered by the board.”

“The form 990 is made available upon request. Additionally, prior year copies of the form 990 can be found on guidestar.org”

“Through the year ended june 30, 2016 the association's financial statements were prepared on the modified cash basis of accounting, which was a comprehensive basis of accounting other than united states generally accepted accounting principles. For the year ended june 30, 2017, the association has elected to change to the accrual basis of accounting in order to conform with united states generally accepted accounting principles. The association has also elected to restate, for comparative purposes, its june 30, 2016 financial statements to this basis of accounting in order to facilitate comparison between the two years. The effect of this change in basis of accounting is presented as a restatement of beginning net assets. The total effect of this change is an increase in net assets of $1,904 at july 1, 2015.”

“Process for committee assuming responsibility for oversight of audit has remained the same as in the prior year.”