Montana State University Book Store Inc.

“All regularly registered students and regular members of the faculty of montana state university shall be members of this corporation, which membership shall automatically terminate upon the graduation, withdrawal, resignation, expulsion, or severance by any other means of said relationship.”

“The members of the organization have the ability to elect student and faculty board members every year, should a new one be nominated. Candidates can apply to run for a board position or they can be nominated by any member of the board to fill a vacancy.”

“The board of directors shall have the power to make, alter, amend, and repeal bylaws of the corporation by affirmative vote of a majority of the board at any regular or special meeting, provided that the proposed action is inserted in a notice of such meeting, and provided that such amendments shall be ratified by a majority of those members of the corporation voting at an election called for that purpose. The bylaws may be altered, amended, or repealed at any meeting of the members of the corporation by an affirmative vote of two-thirds of all the members, represented either in person or by proxy, provided that the proposed action is inserted in the notice of such meeting.”

“Form 990 is prepared by an outside accounting firm and is then reviewed by the organization's board of directors before filing.”

“Msu bookstore has a human resource manager who monitors potential conflicts of interest. Due to the nature of conflicts of interest, self-reporting of potential conflicts is the responsibility of the party involved.”

“The compensation for the top management official of the bookstore, the president and ceo, is determined by the board of directors of msu bookstore. The process of this compensation evaluation involves comparisons with compensation schedules from across non-profit and for-profit corporations of like size, using metrics such as store volume, similar organizational structures, length of service, educational backgrounds, etc. Data is compared from over 1,000 college stores in this evaluation, as well as in discussion with our audit partner. Data sources such as the national association of colleges stores, national association of college auxiliary services, large store group of the national association of college stores, and the independent college stores association are used in this analysis. Besides national data, locally produced data is used such as sales and profit production of the store, yearly evaluation documents, employee satisfaction surveys, and performance against set goals from the prior year.”

“The governing documents, conflict of interest policy, and financial statements are made available to the public only upon request.”

“The organization has a committee that assumes responsibility for the oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the prior year.”