Prescott College Inc

“The executive committee shall have the authority of the board in the management of the business of the corporation in the interval between meetings of the board only to the extent of taking necessary actions in cases when the board cannot act in a timely fashion or in instances where the health, safety, and security of the corporation or individuals associated with it are immediately threatened or when otherwise specifically authorized by the board.”

“The form 990 will be distributed to the finance committee for initial review, and is then made available to the board of trustees prior to being filed.”

“A trustee shall be considered to have a conflict of interest if (a) such trustee has existing or potential financial or other interests that impair or might reasonably appear to impair such member's independent, unbiased judgment in the discharge of his/her responsibilities to the college, or (b) such trustee is aware that a member of his/her family (which for purposes of this paragraph shall be a spouse, parent, siblings, children, and any other relative if the latter resides in the same household as the trustee), or any organization in which such trustee (or member of his family) is an officer, director, employee, member, partner, trustee, or controlling stockholder has such existing or potential financial or other interests. All trustees shall disclose to the board any possible conflict of interest at the earliest practicable time. No trustee shall vote on any matter, under consideration at a board or committee meeting, in which such trustee has a conflict of interest. The minutes of such meeting shall reflect that a disclosure was made and that the trustee having a conflict of interest abstained from voting. Any trustee who is uncertain whether s/he has a conflict of interest in any matter may request the board or committee to determine whether a conflict of interest exists, and the board or committee shall resolve the question by majority vote.”

“Compensation for top management and directors as well as other positions in the college is determined based on comparability of data from like institutions, like positions and the local economy. Status within prescott college is also a factor so that one job is not out of alignment compared to other like responsibility" jobs in other departments. The president's salary is reviewed and approved by the board of directors. Salaries of the other officers and key employees is reviewed by senior management. This process was last performed december 2023.”

“Governing documents are available on the prescott college website. The conflict of interest policy and audited financial statements are available upon request.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”