American Christian College Inc

“The governing body delegated broad authority to the Executive Committee. The Executive Committee's members include the Chairman and two Directors. The Executive Committee shall have the power to bind Summit Ministries and act on behalf of the entirety of the Board of Directors, provided that, the Executive Committee shall not have the power to delegate any of its powers to any further committee, though it may appoint such committees as it desires for purposes other than to act on behalf of Summit Ministries. By way of example only and without limitation, the Executive Committee may appoint members of additional committees to prepare research and recommend courses of action. Without limiting the foregoing, the Executive Committee shall not have the power to: 1. Elect, appoint or remove any member of the Board of Directors of Summit Ministries; 2. Amend, restate, alter or repeal the Articles of Incorporation or Bylaws of Summit Ministries; 3. Whether in one or a series of transactions exceeding 250k, approve a plan of merger or approve a sale, lease, exchange or other disposition of all or substantially all of the property of Summit Ministries; or 4. Take any other action prohibited by law.”

“The Form 990 is prepared by an independent CPA firm and is reviewed by the organization's accountant and CFO for accuracy. A copy of the return is then provided to the board of directors for their review prior to being filed with the IRS.”

“On an annual basis, board members and officers are required to disclose potential conflicts of interest, and the CFO reviews the signed statements. This process is overseen by the Executive Committee of the Board of Directors. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“15a - A compensation review committee, consisting of independent members of the board, is responsible for recommending compensation for the position of President. As part of their process, the compensation review committee references comparability data, including salary and benefits provided to similar positions, at similar organizations. The committee then makes a recommendation to the full board, which votes to approve or deny the recommended compensation package. All related deliberations and decisions are documented in the board minutes. 15b - This same compensation review committee is responsible for reviewing and approving compensation for all staff, including the Chief Financial Officer, and follows the same processes as previously outlined for the President.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The Audit Committee of the Board of Directors is responsible for oversight of the audit of the organizations financial statements, and selection of the independent accounting firm used. This process has not changed from the prior year.”