2012-06-27T13:49:26-05:00 2011-12-31 202153727 SB & COMPANY LLC 200 INTERNATIONAL CIRCLE SUITE 5500 HUNT VALLEY MD 21030 990 2011-01-01 530196569 AMERICAN ASSOCIATION OF COMMUNITY COLLEGES AMER 2027280200 ONE DUPONT CIRCLE NW NO 400 WASHINGTON DC 20036 DONALD BROWN 2027280200 2012-06-27 1 JAMES E MARSHALL JR P00841360 4105840060 2012-06-27 2011 2016-02-24 21:20:13Z DONALD BROWN ONE DUPONT CIRCLE NW NO 400 WASHINGTON DC 20036 22788340 0 X WWW.AACC.NCHE.EDU X 1920 DC TO EXERT LEADERSHIP AND PROVIDE SERVICES IN SUPPORT OF COMMUNITY, JUNIOR AND TECHNICAL COLLEGES, AS THESE INSTITUTIONS DELIVER ACCESSIBLE EDUCATIONAL OPPORTUNITIES DESIGNED TO ADDRESS THE NEEDS OF INDIVIDUALS, ORGANIZATIONS AND COMMUNITIES FORMING THEIR CONSTITUENCIES. 32 32 73 0 532238 0 5124375 12805937 9538071 9267811 312431 631188 55783 46942 15030660 22751878 992575 1223459 0 0 6846704 6906990 0 0 225495 10121043 13972804 17960322 22103253 -2929662 648625 19186399 19529473 8115016 8353820 11071383 11175653 X BUILDING A NATION OF LEARNERS BY ADVANCING AMERICA'S COMMUNITY COLLEGES. 0 0 11853654 1223459 GRANTS AND CONTRACTS - ACTING AS A FOCAL POINT FOR FUNDS USED TO PROVIDE OPPORTUNITIES FOR MEMBER COLLEGES, AACC PARTICIPATES IN A VARIETY OF PROJECTS THAT STRENGTHEN VARIOUS ELEMENTS OF THE NATION'S COMMUNITY COLLEGE SYSTEM. 1414598 1583371 ANNUAL CONVENTION - THE AACC ANNUAL CONVENTION IS THE LARGEST ANNUAL CONVENING OF COMMUNITY COLLEGE LEADERS AND SUPPORTS AACC'S MISSION OF "BUILDING A NATION OF LEARNERS BY ADVANCING AMERICA'S COMMUNITY COLLEGES." THE EVENT IS THE MOST VISIBLE ACTIVITY FOR BEST PRACTICES, NETWORKING, TRENDS AND POLICY DISCUSSION AMONG PRESIDENTS AND SENIOR ADMINISTRATORS, BUSINESS SUPPORTERS, AND POLICY PROFESSIONALS. 1147423 160906 PUBLICATIONS - AACC PRODUCES AND DISSEMINATES A WIDE VARIETY OF BOOKS, MONOGRAPHS, BRIEFS AND REPORTS THAT PROVIDE CURRENT INFORMATION FOR AND ABOUT COMMUNITY COLLEGES AND RELATED ISSUES. THESE TIMELY AND PRACTICAL PUBLICATIONS ARE FOCUSED ON HELPING COMMUNITY LEADERS AND FACULTY TO BE MORE EFFECTIVE AND TO INCREASE UNDERSTANDING AND VISIBILITY OF COMMUNITY COLLEGES. 1178623 COMMUNITY COLLEGES POLICY DEVELOPMENT - THE PRESIDENT'S OFFICE IS THESTRATEGIC AND PROGRAMMATIC HUB OF AACC. THE PRESIDENT IS DEEPLYINVOLVED IN LEADING AACC'S SERVICE AND ADVOCACY AGENDA. TRAVELING UP TO50% OF THE TIME, THE PRESIDENT IS AACC'S PRIMARY REPRESENTATIVE TO ALLOF ITS INTERNAL AND EXTERNAL CONSTITUENCIES AND THE "FACE" OF AACCWITHIN HIGHER EDUCATION AND TO POLICYMAKERS. THE BOARD OF DIRECTORS ANDFIVE COMMITTEES OF THE BOARD ARE ENGAGED THROUGHOUT THE YEAR TO DISCUSSISSUES RELATED TO KEY COMMUNITY COLLEGE ISSUES AND TRENDS AND HIGHEREDUCATION IN GENERAL. THEIR PRIMARY FUNCTION IS TO PROVIDE DIRECTION TOTHE PRESIDENT IN THE AREAS OF LEGISLATIVE ADVOCACY AND MEMBER SERVICES.IN ADDITION, THEY PROVIDE GENERAL OVERSIGHT TO THE BUSINESS OPERATIONSOF AACC. 795572 624040 INTERNATIONAL SERVICES 373533 ECONOMIC DEVELOPMENT 624801 773010 WORKSHOPS AND SEMINAR 655144 GOVERNMENT RELATIONS 345295 COMMUNICATION AND PUBLIC RELATIONS 507047 MEMBERSHIP AND INFORMATION SERVICES 124190 RESEARCH 310759 ACADEMIC, COMMUNITY AND STUDENT DEVELOPMENT 4914964 1397050 19330639 1 1 0 1 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 124 0 73 0 1 1 0 0 0 0 0 0 0 X 32 32 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X RAMSAY RJOHNSON JR CPA 2027280200 ONE DUPONT CIRCLE NW SUITE 410 WASHINGTON DC 20036 MYRTLE DORSEY 2.00 X X 0 0 0 MARIE FOSTER GNAGE 2.00 X X 0 0 0 JOHN J SYGIELSKI 2.00 X X 0 0 0 KENNETH ATWATER 2.00 X 0 0 0 LARRY BAILEY 2.00 X 0 0 0 RITA MCEPEDA 2.00 X 0 0 0 MICHAEL RCHIPPS 2.00 X 0 0 0 NED DOFFONEY 2.00 X 0 0 0 RICHARD DURAN 2.00 X 0 0 0 CAROL W EATON 2.00 X 0 0 0 KAREN ELZEY 2.00 X 0 0 0 PATRICIA GRANADOS 2.00 X 0 0 0 JONATHAN GUEVERRA 2.00 X 0 0 0 G EDWARD HUGHES 2.00 X 0 0 0 CURTIS IVERY 2.00 X 0 0 0 ALEX JOHNSON 2.00 X 0 0 0 CAROLE BEROTTE JOSEPH 2.00 X 0 0 0 JANE KARAS 2.00 X 0 0 0 CINDY L MILES 2.00 X 0 0 0 SCOTT MURAKAMI 2.00 X 0 0 0 WILFREDO NIEVES 2.00 X 0 0 0 SHOUAN PAN 2.00 X 0 0 0 PAMELA QUINN 2.00 X 0 0 0 PATRICIA ROWELL 2.00 X 0 0 0 THELMA SCOTT-SKILLMAN 2.00 X 0 0 0 JOSEPH SEABROOKS JR 2.00 X 0 0 0 LYNDA STANLEY 2.00 X 0 0 0 KAREN STOUT 2.00 X 0 0 0 CAROLANE WILLIAMS 2.00 X 0 0 0 RONALD WILLIAMS 2.00 X 0 0 0 JENNIFER WIMBISH 2.00 X 0 0 0 BETTY YOUNG 2.00 X 0 0 0 WALTER BUMPHUS 35.00 X 443614 0 72822 DONALD BROWN 35.00 X 147548 0 32564 HEATHER OWENS 35.00 X 56119 0 18745 DAVID BAIME 35.00 X 190260 0 42267 NORMA KENT 35.00 X 150860 0 32474 LYNN BARNETT 35.00 X 133068 0 27093 JAMES MCKENNEY 35.00 X 131067 0 13777 JONATHAN NELSON 35.00 X 110687 0 12330 JEFF MILLS 35.00 X 117396 0 12308 MICHAEL ALLEN 35.00 X 112871 0 0 1593490 0 264380 9 0 1 0 XPAND CORPORATION 1941 ROLAND CLARKE PLACE RESTON VA 20191 DEVELOPMENT SERVICE OFFERED IN SUPPORT O 1978509 THE MAGAZINE GROUP 1129 20TH STREET NW SUITE 700 WASHINGTON DC 20036 EDITORIAL,DESIGN,AND PRODUCTION SERVICES 366300 THE NATIONAL ASSOCIATION OF WORKFORCE BO 1133 19TH STREET NW SUITE 400 WASHINGTON DC 20036 WORKFORCE STRATEGIES 321934 REINGOLD INC 1415 ELLIOTT PLACE NW WASHINGTON DC 20007 CONVENTION MARKETING, SOCIAL NETWORK DEV 247734 TOWNSEND GROUP INC 2 WISCONSIN CIRCLE SUITE 900 CHEVY CHASE MD 20815 CONVENTION MANAGEMENT SERVICES 236287 5 6233122 6572815 12805937 MEMBERSHIP DUES 900099 5447770 5447770 ANNUAL CONVENTION 900099 1583371 1583371 PROF DEV WORKSHOPS 900099 773010 773010 PUBLICATIONS 541800 693144 160906 532238 INTERNATIONAL SERVICES 900099 624040 624040 146476 146476 9267811 277343 277343 24375 36462 -12087 -12087 -12087 353845 353845 353845 353845 RENT 900099 31219 31219 OTHER INCOME 900099 27810 27810 59029 22751878 8794602 532238 619101 1223459 1223459 1343910 1037594 306316 4154113 3426769 571066 156278 382852 317153 65699 685621 565941 72174 47506 340494 294676 45818 1908 1028 880 71847 1790 70057 19752 19752 85814 85814 6363995 6262486 101509 414584 397484 10898 6202 520069 327235 189969 2865 13371 13371 467794 1965 465829 703817 686407 14786 2624 2158902 2156974 1928 347590 57000 290590 29133 296 28837 PRINTING AND PUBLICATIO 1050908 1040772 10136 INDIRECT COSTS 942352 943187 -835 PROGRAM DEVELOPMENT COS 180134 178990 1144 MEALS AND ENTERTAINMENT 23823 23249 574 577011 373841 195958 7212 22103253 19330639 2547119 225495 1350978 2377936 1352620 234440 1246483 1505707 2361918 2324059 38546 71337 456561 221310 3319465 1986380 1518279 1333085 10725836 11445099 135178 16500 19186399 19529473 2394759 2579051 5585079 5758269 135178 16500 8115016 8353820 X 5970111 4696063 4996407 6374725 104865 104865 11071383 11175653 19186399 19529473 X 648625 -544355 X X 0 1 1 X 1 1 X 7888813 7514638 5946155 5124375 12800964 39274945 8682449 8715301 8821944 9538071 9267811 45025576 16571262 16229939 14768099 14662446 22068775 84300521 0 0 0 84300521 499594 378925 212175 310252 301781 1702727 499594 378925 212175 310252 301781 1702727 96882 43400 45568 47834 59029 292713 17167738 16652264 15025842 15020532 22429585 86295961 0.97690 0.97260 0.01970 0.02280 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 1 140000 0 0 0 0 0 140000 0 104865 104865 104865 104865 354365 500 250000 104865 1.00000 0 0 453816 222229 231587 396446 224615 171831 2469203 1539536 929667 1333085 DEFERRED COMPENSATION 16500 16500 22751878 22103253 648625 -544355 -544355 104270 22133796 -544355 -544355 22678151 85814 -12087 73727 22751878 22029526 0 22029526 85814 -12087 73727 22103253 PART XII, LINE 4B - OTHER ADJUSTMENTS: NET RENTAL INCOME - CONDO -12,087. PART XIII, LINE 4B - OTHER ADJUSTMENTS: NET RENTAL INCOME - CONDO -12,087. 1 ALAMO 201 W SHERIDAN SAN ANTONIO TX 78204 746002173 501(C)(3) 21725 IMPROVING CHINESE COLLEGES CURRICULUM AND LEADERSHIP ANNE ARUNDEL CC 101 COLLEGE PARKWAY ARNOLD MD 21012 520905706 501(C)(3) 11787 LEARN & SERVE ATLANTIC CCA 5100 BLACK HORSE PIKE MAYS LANDING NJ 08330 237368159 501(C)(3) 7200 PLUS 50, ADULT DEGREE BURLINGTON 601 PEMBERTON BROWN MILLS ROAD PEMBERTON NJ 08068 221825538 501(C)(3) 60000 WORKFORCE DEVELOPMENT CAPE COD CC 2240 IYANNOUGH RD BARNSTABLE MA 02668 046002284 501(C)(3) 5241 LEARN & SERVE, ADULT DEGREE CC OF VERMONT PO BOX 120 WATERBURY VT 05676 030213787 501(C)(3) 14000 LEARN & SERVE CENTRAL FL CC 3001 SW COLLEGE ROAD OCALA FL 34474 591213999 501(C)(3) 10200 PLUS 50, ADULT DEGREE CENTURY COL 3300 CENTURY AVE NORTH WHITE BEAR LAKE MN 55110 411687554 501(C)(3) 7200 ADULT DEGREE CHATTAHOOCHEE TECH COL 980 S COBB DR MARIETTA GA 30060 630657380 501(C)(3) 20000 PLUS 50, ADULT DEGREE DAWSON CC 300 COLLEGE DR GLENDIVE MT 59330 816000240 501(C)(3) 5600 PLUS 50 DISTTRUSTEINDIAN RIVER STATE 3209 VIRGINIA AVENUE FORT PIERCE FL 34981 591206516 501(C)(3) 5000 WORKFORCE DEVELOPMENT EL PASO CC PO BOX 20500 EL PASO TX 79998 741690850 501(C)(3) 25000 LEADERSHIP TRAINING FOX VALLEY 1825 N BLUEMOUND DRIVE APPLETON WI 54912 391087276 501(C)(3) 5171 IMPROVING CHINESE COLLEGES CURRICULUM & LEADERSHIP GLENDALE CC 1500 N VERDUGO RD GLENDALE CA 91208 952668744 501(C)(3) 14425 LEARN & SERVE GEORGIA PERIMETER COLLEGE 3251 PANTHERSVILLE ROAD DECATUR GA 30034 581660133 501(C)(3) 10000 PREGNANCY PREVENTION HAZARD CTC 1 COMMUNITY COLLEGE DRIVE HAZARD KY 41701 581660133 501(C)(3) 7200 PLUS 50, ADULT DEGREE HENNEPIN TECH COL 9000 BROOKLYN BLVD BROOKLYN PARK MN 55445 411687554 501(C)(3) 10000 PREGNANCY PREVENTION IVY TECH 3800 N ANTHONY BLVD FORT WAYNE IN 46805 351180631 501(C)(3) 26682 IMPROVING CHINESE COLLEGES CURRICULUM & LEADERSHIP IVY TECH FOUNDATION 3800 N ANTHONY BLVD FORT WAYNE IN 46805 237073977 501(C)(3) 4714 IMPROVING CHINESE COLLEGES CURRICULUM & LEADERSHIP LAKELAND CC 7700 CLOCKTOWER DRIVE KIRKLAND OH 44094 341011011 501(C)(3) 6206 IMPROVING CHINESE COLLEGES CURRICULUM & LEADERSHIP LANE CC 4000 EAST 30TH AVENUE EUGENE OR 97405 900546223 501(C)(3) 9004 IMPROVING CHINESE COLLEGES CURRICULUM & LEADERSHIP LONGBEACH CD 4901 E CARSON STREET LONG BEACH CA 90808 952654140 501(C)(3) 60000 WORKFORCE DEVELOPMENT LORAIN CNTY COMM COLLEGE 1005 N ABBE RD ELYRIA OH 44035 340930187 501(C)(3) 60000 WORKFORCE DEVELOPMENT LORAIN CNTY COMM COLLEGE 1005 N ABBE RD ELYRIA OH 44035 340930187 501(C)(3) 14000 LEARN & SERVE MESA CC 1833 W SOUTHERN AVE MESA AZ 85202 860185552 501(C)(3) 17273 PREGNANCY PREVENTION MONROE 1000 EAST HENRIETTA ROAD ROCHESTER NY 14623 160849590 501(C)(3) 7200 PLUS 50, ADULT DEGREE MONT COLFOU 900 HUNGERFORD DRIVE ROCKVILLE MD 20850 521267008 501(C)(3) 10000 PREGNANCY PREVENTION MONT CTYCC 340 DEKALB PIKE BLUE BELL PA 19422 231670325 501(C)(3) 5000 LEADERSHIP TRAINING MOTT CC 1401 EAST COURT STREET FLINT MI 48503 381914697 501(C)(3) 71339 WORKFORCE DEVELOPMENT NACCE 1 FEDERAL STREET BLDG 101-R SPRINGFIELD MA 01105 260704711 501(C)(3) 90000 WORKFORCE DEVELOPMENT NE JR COLLEGE 100 COLLEGE DRIVE STERLING CO 80751 840644739 501(C)(3) 7200 PLUS 50, ADULT DEGREE NE WISCONSIN TECH COL 2740 W MASON ST GREEN BAY WI 54307 391087141 501(C)(3) 66000 WORKFORCE DEVELOPMENT PHI THETA KAPPA INT HONOR SOCIETY 1625 EASTOVER DR JACKSON MS 39211 646012238 501(C)(3) 100000 PLUS 50 NO IOWA CC 500 COLLEGE DRIVE MASON CITY IA 50401 420930155 501(C)(3) 60000 WORKFORCE DEVELOPMENT PAROS 4308 CHESAPEAKE ST NW WASHINGTON DC 20016 460490310 501(C)(3) 10000 WORKFORCE DEVELOPMENT QUEENSBOROUGH CC 222-05 56TH AVENUE BAYSIDE NY 11364 131988190 501(C)(3) 11621 LEARN & SERVE RIO SALADO CC 2323 WEST 14TH STREET TEMPE AZ 85281 860185552 501(C)(3) 60000 WORKFORCE DEVELOPMENT SAINT LOUIS CC 300 S BROADWAY ST LOUIS MO 63102 430786590 501(C)(3) 7200 PLUS 50, ADULT DEGREE SALT LAKE CC 9750 S 300 WEST SANDY UT 84070 876000448 501(C)(3) 11088 LEARN & SERVE SANTA FE CC 6401 RICHARDS AVENUE SANTA FE NM 87508 850311615 501(C)(3) 63000 WORKFORCE DEVELOPMENT SE COM COLL 285 SOUTH 68TH STREET PLACE LINCOLN NE 68510 470549567 501(C)(3) 60000 WORKFORCE DEVELOPMENT SO AK CC PO BOX 7010 EL DORADO AR 71731 710718948 501(C)(3) 7200 PLUS 50, ADULT DEGREE SPOON RICC DC 23235 NORTH COUNTY 22 HIGHWAY CANTON IL 61520 370895488 501(C)(3) 7200 PLUS 50, ADULT DEGREE SW ILLINOIS 2500 CARLYLE AVENUE BELLEVILLE IL 62221 370896981 501(C)(3) 7200 PLUS 50, ADULT DEGREE UNIV ALASKA 3211 PROVIDENCE DRIVE ANCHORAGE AK 99508 926000147 501(C)(3) 7200 PLUS 50, ADULT DEGREE WESTERN PEIDMONT CC 1001 BURKEMONT AVENUE MORGANTON NC 28655 560816544 501(C)(3) 9553 LEARN & SERVE WHITEMOUNT 2020 RIVERSIDE DRIVE BERLIN NH 03570 026000618 501(C)(3) 60000 WORKFORCE DEVELOPMENT WIREGRASS DC 4089 VAL TECH ROAD VALDOSTA GA 31602 581774017 501(C)(3) 7200 PLUS 50, ADULT DEGREE ZANES 1500 NEWARK ROAD ZANESVILLE OH 43701 310796550 501(C)(3) 5000 LEADERSHIP TRAINING 49 ALL EXPENDITURES, WITH THE EXCEPTION OF PAYROLL, ARE REVIEWED BY THE GRANTS ACCOUNTANT TO DETERMINE THE COSTS MEET THE CRITERIA ESTABLISHED UNDER CIRCULAR A-122 FOR REASONABLENESS, ALLOCABILITY AND ALLOWABILILTY, AS WELL AS AACC INTERNAL POLICIES AND PROCEDURES. THIS IS AFTER THE PAYMENT DOCUMENT IS SUBMITTED BY THE GRANTS OFFICER OR HIS OR HER DESIGNEE APPROVED BY AN APPROPRIATE AACC MANAGEMENT PERSONNEL. IF THE GRANTS ACCOUNTANT BELIEVES ANY OF THE SPECIAL CONDITIONS OF THE GRANT AWARD ARE NOT BEING ADHERED TO, OR SOME VIOLATIONS OF THE COST PRINCIPLES IS DISCOVERED, HE DISCUSSES THE ISSUES WITH THE CONTROLLER. IF THE CONTROLLER SUSTAINS THE PARTICULAR ISSUE, THE CONTROLLER CONTACTS THE APPROPRIATE GRANTS OFFICER AND EXPLAINS WHY APPROPRIATE ACTION IS NECESSARY AND WHAT THE APPROPRIATE CORRECTIVE ACTION WOULD BE. PAYROLL COSTS AND TIME ALLOCATIONS ARE REVIEWED BY THE CONTROLLER AS WELL AS THE APPROPRIATE AACC VICE PRESIDENT IN CHARGE OF THE AACC SECTION RECEIVING THE FEDERAL AWARD. X X X X 1 1 X X X 1 1 0 0 0 0 0 0 0 WALTER BUMPHUS 443614 0 0 0 0 0 55550 0 17272 0 516436 0 0 0 DONALD BROWN 147548 0 0 0 0 0 15216 0 17348 0 180112 0 0 0 DAVID BAIME 190260 0 0 0 0 0 19439 0 22828 0 232527 0 0 0 NORMA KENT 150860 0 0 0 0 0 15288 0 17186 0 183334 0 0 0 LYNN BARNETT 133068 0 0 0 0 0 9742 0 17351 0 160161 0 0 0 PART I, LINE 1A THE CEO'S SPOUSE IS PRESENT IN THE MEETINGS FROM TIME TO TIME WHEN THE ORGANIZATION'S BUSINESS REQUIRES. THE ORGANIZATION REIMBURSES THE REASONABLE COST OF TRAVEL, MEALS AND LODGINGS RELATED TO ATTENDANCE AT SUCH MEETINGS. THE ORGANIZATION PAYS ALL THE INCOME AND PAYROLL TAXES ON THE HOUSING ALLOWANCES THAT THE CEO RECEIVES. THE ORGANIZATION PAYS THE INITIATION FEE AND ANNUAL DUES FOR THE CEO AND HIS SPOUSE TO JOIN A SOCIAL CLUB TO ASSIST THE CEO IN PERFORMING HIS DUTIES AS REQUIRED BY THE ORGANIZATION PART I, LINES 4A-B CONTRIBUTED TO 457B PLAN FOR THE PRESIDENT OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS 1,100 MEMBER COLLEGES. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS (1,100 COMMUNITY COLLEGE PRESIDENTS) ELECT THE BOARD OF DIRECTORS (32) BY MAIL BALLOT. THE BOARD OF DIRECTORS ELECTS OR APPOINTS OFFICERS OF THE ASSOCIATION. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD OF DIRECTORS DELEGATES ITS RESPONSIBILITY FOR REVIEW OF THE FORM 990 TO THE AUDIT AND FINANCE COMMITTEE OF THE BOARD, DUE TO THE CONFLICTING NEEDS FOR TIMELINESS OF REPORT SUBMISSION AND THE FACT THAT THE BOARD MEETS ONLY THREE TIMES PER YEAR. THE AUDIT AND FINANCE COMMITTEE REVIEWS THE 990 WITH A MINIMUM OF ONE WEEK NOTICE TO FORWARD COMMENTS, QUESTIONS AND SUGGESTIONS TO OTHER COMMITTEE MEMBERS. A COMMITTEE TELECONFERENCE MAY BE CALLED AT THE DISCRETION OF THE COMMITTEE CHAIR TO REVIEW THE 990. ALL MEMBERS OF THE BOARD OF DIRECTORS RECEIVE A COPY OF THE 990 SUBSEQUENT TO ACCEPTANCE OF THE REPORT BY THE AUDIT AND FINANCE COMMITTEE AND PRIOR TO FILING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS MONITORED BY BOTH THE PRESIDENT/CEO AND CFO. THE CFO REVIEWS ALL FINANCIAL TRANSACTIONS AND IS THE KEY POINT OF IDENTIFICATION OF POTENTIAL CONFLICTS. IF A POTENTIAL CONFLICT OF INTEREST IS IDENTIFIED, THE PARTICULAR SITUATION IS DISCUSSED WITH OUTSIDE LEGAL COUNSEL TO DETERMINE IF FURTHER REVIEW AND ACTIONS ARE WARRANTED. IF SO, THE MATTER IS THEN TAKEN TO THE CHAIRPERSON OF THE EXECUTIVE COMMITTEE (CHAIRPERSON OF THE BOARD) FOR SUBSEQUENT RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS IN CONSULTATION WITH OUTSIDE LEGAL COUNSEL, FOLLOWING BEST PRACTICES INCLUDING FORMAL PERFORMANCE EVALUATION AND REVIEW OF COMPARATIVE DATA FOR CEO POSITIONS IN SIMILAR ORGANIZATIONS. ALL OTHER OFFICERS, SENIOR MANAGEMENT AND KEY EMPLOYEES RECEIVE PERFORMANCE EVALUATIONS AND ARE SUBJECT TO THE SAME COMPENSATION POLICIES AND PROCEDURES AS ALL NON-CEO POSITIONS IN THE ASSOCIATION. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -544,355. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.