California Alumni Association

“The organization has three classifications of members: 1. Annual members (members paying dues on an annual basis) 2. Paying life members (members making installment payments on life membership) 3. Life members (members who are fully paid or received complimentary life membership) the following persons are eligible to become members of the organization: (i) any person who has been awarded a degree from any university of california campus, (ii) any person who has attended any university of california campus as a student for at least one quarter, one semester, or has accumulated twelve (12) or more units of credit from any university of california and/or university extension campus; (iii) a current or former faculty or staff member of the organization or any university of california campus; (iv) any person who has demonstrated an interest in benefits or programs of the organization or the university of california; and (v) any person who has rendered outstanding service to the organization or the university of california.”

“New members of the board of directors are nominated by the nominating committee of the board of directors. Announcements of such nominations are made in the next issue of california magazine. Additionally, any group of 100 members of the organization in good standing may, by written petition, nominate a full or partial ticket if said written petition is filed with the secretary within a period of 30 days after the published report of the nominating committee. If no such petition has been filed with the secretary, then the nominees of the nominating committee, as approved by the board, shall be declared duly elected. If such petition is filed, then an election by written ballot shall be held for the contested position or positions.”

“Fixing or changing the number of directors or officers may not be adopted, amended, or repealed without the vote or written assent of a majority of the members of the corporation, or the majority vote of the members present at a meeting of the members.”

“The form 990 is prepared by an independent accountant in conjunction with the organization's finance and accounting staff. A draft form 990 is reviewed by the organization's cfo; any adjustments are made, as necessary. The form 990 is then reviewed with the audit committee of the board of directors, and distributed to the entire board thereafter, prior to filing with the internal revenue service.”

“All board members, officers, and key employees are required to complete a conflict of interest annually. In addition, a vendor check is done annually to capture any potential conflict of interest. In the event a conflict of interest exists, the persons involved are required to recuse themselves from making any decision on the matter.”

“Compensation of the executive director and senior management team members is reviewed and approved by the compensation committee. The committee uses compensation surveys, studies, and/or form 990 information from other organizations in making their decision. Substantiation of the deliberation and decision is documented in the committee meeting minutes.”

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

“Gain on derivative financial instrument 109,314. Change in pension liability 742,964.”