American Indian Higher Education

“During the period from 2016 through 2024, the former Vice President of Finance & Administration perpetrated fraud within the entitiespayroll processes by overriding established controls, which compromised the reliability of certain payroll records. For the year ended September 30, 2024, management identified $28,709 of improper payroll charges and recorded such amounts as other expenseloss due to fraud, with related adjustments to allocations and accrued amounts as applicable.Based on information available to date, management estimates that cumulative improper payroll charges of approximately $757,000 occurred in periods prior to the current fiscal year. Because historical payroll records were compromised, additional misstatements may exist, and the ultimate amount of the fraud cannot be reasonably determined at this time.”

“Aihec has five classes of membership: regular member (voting), associate member, international member, organization member, and honorary member. The aihec board of directors is composed of its regular members, which include tribally chartered institutions of postsecondary education that: - is a subdivision of a government of a federally recognized american indian tribe, alaska native village, or alaska native corporation or has been chartered, sanctioned or formally established by a federally recognized tribal government or an alaska native village, or alaska native corporation; - has a governing board that is comprised solely of american indian or alaska native members, except in those cases where the charter of the tribal college authorizes a majority of such members; - primarily serves an american indian or alaska native community or communities; - has a majority of full-time equivalent american indian or alaska native students; - has demonstrated that it is fulfilling the goals and purposes for which it was established, sanctioned or chartered and is adhering to an educational plan of operation; and - is accredited, or a formal candidate for accreditation, by a regional institutional accrediting association recognized by the u.s. Secretary of education. Upon accreditation being conferred, associate members may become regular members, and therefore serve on the board of directors. The remaining three categories of membership have no voting rights or responsibilities and may not hold office in aihec.”

“The return was prepared by outside accountants and reviewed by senior management. The 990 was submitted to the finance and audit committee for review before it was filed. Once the 990 was reviewed by the f&a committee, a copy of final 990 will be sent to the entire board at the next scheduled board of director's meeting for review.”

“The organization distributes the conflict of interest policy annually to the governing board and employees for review. Receipt confirmation is attached. Board members and all staff must review and sign the attached confirmation, which is returned and filed at the corporate office. A board members' conflict of interest is brought to the attention of the executive committee. The committee decides on what action should be taken, and the proposed action is voted on by the governing board. Employee conflict of interest is handled by the human resources department and the president and ceo. Violation of policy may lead to disciplinary action, up to and including immediate termination of employment.”

“The ceo's compensation is determined and approved by board and executive committee, based on the information obtained in local compensation study. The board's deliberation and decision are recorded in the board meeting minutes. The last compensation review took place in january 2022.”

“All financial documents, governing documents, and conflict of interest policy are available upon request.”