Beacon College Inc.

“The executive committee shall have five members, all of who 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, changes noted by members are made as necessary, 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.”

“The process for determining ceo and top management compensation incudes all of these elements: (1) review and approval by independent members of the board of trustees; (2) use of data as to comparable compensation; (3) contemporaneous documentation and recordkeeping. The board of trustees votes on compensation packages for officer's and key employee compensation, using comparability data from similar exempt organizations.”

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

“Guest speakers: program service expenses 4,600. Management and general expenses 11,550. Fundraising expenses 0. Total expenses 16,150. Wellness program fees: program service expenses 3,501. Management and general expenses 4,648. Fundraising expenses 0. Total expenses 8,149. International outreach: program service expenses 11,225. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,225. Photography and filming: program service expenses 0. Management and general expenses 47,976. Fundraising expenses 0. Total expenses 47,976. Website design and upgrade: program service expenses 0. Management and general expenses 28,230. Fundraising expenses 0. Total expenses 28,230. Study abroad professional services: program service expenses 17,854. Management and general expenses 0. Fundraising expenses 0. Total expenses 17,854. Financial aid services: program service expenses 133,005. Management and general expenses 0. Fundraising expenses 0. Total expenses 133,005. Other: program service expenses 31,041. Management and general expenses 1,372. Fundraising expenses 0. Total expenses 32,413. Consulting services: program service expenses 21,684. Management and general expenses 43,515. Fundraising expenses 18,326. Total expenses 83,525. New program development: program service expenses 40,270. Management and general expenses 0. Fundraising expenses 0. Total expenses 40,270. Subcontracted services: program service expenses 2,256,737. Management and general expenses 90. Fundraising expenses 0. Total expenses 2,256,827.”

“Change in value split interest agreement 8,396. Bad debt pledges -70.”