Beacon College Inc

“The executive committee shall have five members, all of whom shall be voting members of the board. The president shall also serve on the executive committee but in an ex officio, non-voting capacity. The executive committee shall be composed of the officers of the board with other members selected from the chairs of standing committees and/or at-large members nominated by the board chair and confirmed at the board's annual meeting by a majority vote of those trustees in attendance. In conducting its duties, the executive committee, shall not, even if the number is sufficient, be considered a quorum for a special meeting of the full board. The executive committee is empowered to act for the board between regular board of trustees' meetings on all matters, except for those matters exclusively reserved to the board: (i) presidential selection and termination, (ii) board member and board officer election, (iii) changes in the mission and/or purpose of the institution, (iv) amendments to the articles of incorporation and/or bylaws, (v) incurrence of corporate indebtedness, (vi) sale or other disposition of real estate and/or other tangible property, (vii) adoption of the annual budget, and (viii) conferral of degrees, (ix) setting tuition, (x) setting increases in salaries.”

“Board of trustees members are provided a draft copy of the form 990 for their review, and the final form 990 is then filed upon signature of an authorized officer.”

“A board member shall be considered to have a conflict of interest if he or she, or persons or entities with which he or she is affiliated, has a direct or indirect interest that may impair or may reasonably appear to impair his or her independent, unbiased judgment in the discharge of his or her responsibilities to the institution. Board members shall disclose to the board any actual, apparent, or possible conflict of interest at the earliest practical time. A board member who has made such a disclosure shall abstain from voting on such matters, or participating in or otherwise influencing the deliberations of the board in relation to the matter for which an actual, apparent, or possible conflict is acknowledged. The board meeting minutes shall reflect that a disclosure was made and note the board members' abstention from voting and absence during board deliberations. A board member who is recused may be counted for purposes of determining the presence of a quorum at the meeting, but shall not be counted for purposes of determining the presence of a quorum for requisite board action. In accordance with the conflict of interest policy, every board member shall complete and sign a disclosure form on an annual basis, and update the form as promptly as possible following knowledge of conditions that may create a possible conflict of interest. Board members serve as volunteers and are not compensated for their services. They may be reimbursed for transportation and other reasonable direct expenses while engaged in the discharge of their official board duties.”

“Beacon conducts an annual administrative salary and benefit survey for the president. At the same time, an annual salary survey of senior executives or officers is also conducted. The research utilized for the administrative survey is obtained from the college and university professional association for human resources (cupa-hr). Cupa-hr is considered the definitive source for administrative salaries for higher education since 1967, and the research from its administrator survey is used by the "chronicle of higher education" to annually report on the compensation for higher education administrative staff. In addition, beacon utilizes the data obtained from the most recent irs form 990 filings for each college that beacon utilizes for comparative purposes. Included in this comparison are: peer colleges, florida colleges, private independent colleges, baccalaureate colleges, and southern region private independent colleges, by enrollment or total expense. The director of human resources performs the analysis of data and writes the reports, which includes data documentation, for the board chair and president to review. The president makes a recommendation to the board chair for suggested compensation for senior executive level compensation, based on an annual review of their accomplishments in their respective positions. The board chair reviews both the president's annual compensation survey and senior executive level compensation recommendations from the president. These are then presented to the compensation committee appointed by the executive committee for review and discussion, to include the annual review for the president. The compensation committee meets in closed session and determines the compensation levels for the president and senior executives. The compensation committee advises the executive committee who presents the recommendations to the full board.”

“The college's governing documents, conflict of interest policy, and financial statements are made available upon request for a reasonable copying charge.”

“Dining services: program service expenses 2,585,427. Management and general expenses 2,242. Fundraising expenses 0. Total expenses 2,587,669. Facilities management: program service expenses 1,414,880. Management and general expenses 119,714. Fundraising expenses 0. Total expenses 1,534,594. Consulting services: program service expenses 234,693. Management and general expenses 170,600. Fundraising expenses 0. Total expenses 405,293. Health services management: program service expenses 100,200. Management and general expenses 0. Fundraising expenses 0. Total expenses 100,200. Financial aid services: program service expenses 99,467. Management and general expenses 0. Fundraising expenses 0. Total expenses 99,467. It management: program service expenses 0. Management and general expenses 16,538. Fundraising expenses 0. Total expenses 16,538. Contract labor: program service expenses 0. Management and general expenses 7,955. Fundraising expenses 0. Total expenses 7,955.”

“Change in value of split interest agreement 51,095. Provision for bad debt -27,930.”