Palmer College of Chiropractic West

“The organization has one member, palmer college foundation. The rights, powers, duties and obligations of the member is and shall be identical to those of the members of palmer college foundation.”

“Trustees are elected at the same time and in the same manner as provided in the articles of incorporation and/or the bylaws of palmer college foundation. The persons nominated for the position of trustee by the board of trustees of palmer college foundation and/or the members thereof shall be nominated to serve in that capacity as a trustee of this corporation as well as palmer college foundation.”

“Those provisions of the articles of incorporation and/or the bylaws of the corporation that affect the rights, powers and/or duties of the members, inclusive of the right to elect members and trustees and/or dissolve the corporation or sell all of its assets or effect a merger or consolidation, must be approved by a majority vote of all of the members. (see amended & restated articles of incorporation - 2012, article iv, and bylaws - 2012, article ii).”

“After completion of the draft of the form 990 by an external accounting firm, the form 990 draft is shared with the chief financial officer and his staff for their review and correction of any errors. Once those corrections have been made, the form 990 draft is shared with the audit committee of the college's board of trustees. The audit committee of the board of trustees has been designated as the committee to review the form 990 before it is filed. The audit committee and chief financial officer (treasurer) will meet to review the draft form 990 with representatives of the accounting firm who completed the draft form 990, if considered necessary. Once the draft has been reviewed and any corrections made, copies of the form 990 will be provided to the full board of trustees. Once board receipt has been determined, the treasurer will sign and file the 990 with the internal revenue service.”

“The organization requires officers, directors and key employees to complete an annual form to comply with its conflict of interest policy.”

“The board considers several sources in determining compensation for senior administrators such as the acc surveys, chronicle of higher education surveys, guidance from professional compensation consultants and also with surveys conducted by our human resources department. The board of trustees' executive committee who, periodically, during the year, meets to review the chancellor's performance and sets the chancellor's compensation. Annually, the chancellor meets with the executive committee of the board to review salaries of the senior administrators. The chancellor sets senior administrators' salaries with oversight from the board of trustees. Compensation decisions are contemporaneously documented in the board minutes.”

“Palmer college does not make its policies, governing documents, conflict of interest policy, or financial statements available to the public.”

“Non cash contributions -9,835.”

“The organization is included in the consolidated entity audit with palmer college foundation and receives consolidated gaap finanacial statements on an annual basis from independent auditors. The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant.”