Inceptia

“The executive committee of the board of directors shall consist of no less than three (3) members from the board of directors as designated by a majority of the board of directors at the annual meeting. The executive committee shall have and exercise the authority of the board of directors pursuant to the nebraska nonprofit corporation act at all times when a meeting of the board of directors is not in session, provided, however, that the executive committee shall not have the authority to authorize any distributions in excess of $1,000.00, approve or recommend the merger, or the sale, pledge or transfer of all of the corporation's assets, elect, appoint or remove directors on any of its committees, or adopt, amend or repeal the articles or bylaws of the corporation. The executive committee shall meet at such times as the board of directors shall determine. The executive committee shall maintain a written record of its proceedings and shall report its proceedings to the board of directors at the next meeting of the full board of directors.”

“Nebraska student loan program, inc. (nslp), a not-for-profit corporation, serves as the sole member of inceptia and elects inceptia's board of directors.”

“Nebraska student loan program, inc. (nslp), a not-for-profit corporation, serves as the sole member of inceptia and elects inceptia's board of directors.”

“The 990 is prepared by an external auditor, reviewed by staff, and mailed to all board members. The 990 is presented to the audit committee and the board before it is filed.”

“Inceptia maintains a conflict of interest policy for all directors and officers. A conflict of interest exists if a member has financial or ownership interest in the organization. The policy exists to identify potential instances in which an individual could personally benefit to the detriment of the organization. The policy requires all members to disclose an annual disclosure form. If a potential conflict of interest is determined to exist, such interested person must prepare a written statement describing the nature of the transaction and conflict of interest. Discussions with independent, outside legal counsel, as well as the chairman and president of inceptia determine whether a conflict of interest exists. In the event of a positive finding by independent legal counsel and after review by the board, legal counsel will advise the interested person how to remove themselves from influence over the decisions on the matter, as well as advise on any other restrictions that will be imposed upon the interested individual. Results of the proceedings are documented in the organization's meeting minutes.”

“Public availability of documents, policies, and financial statements: inceptia does not make their governing documents, conflict of interest policy, or financial statements available to the public.”