2026-04-13T10:35:23-05:00 2025-05-31 410746749 CLIFTONLARSONALLEN LLP 950 NORTH GLEBE ROAD SUITE 1200 ARLINGTON VA 22203 990 2024-06-01 530259954 NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS NATI 2028612500 1110 VERMONT AVENUE NW 800 WASHINGTON DC 20005 KARA D FREEMAN PRESIDENT AND CEO 2028612500 2026-03-27 1 1 ROBERT WILLIAMS P01345960 5712279500 2026-03-27 2024 2025-03-06 01:10:19Z KARA D FREEMAN 1110 VERMONT AVENUE NW 800 WASHINGTON DC 20005 49547038 0 X WWW.NACUBO.ORG X 1956 IL TO IMPROVE FINANCIAL AND ADMINISTRATIVE MANAGEMENT AT INSTITUTIONS OF HIGHER EDUCATION. 23 22 57 22 185194 131620 10408131 11400026 5566922 6018510 112528 2436759 299723 178511 16387304 20033806 232500 119100 0 0 7385265 7532301 0 0 876608 9708178 10211191 17325943 17862592 -938639 2171214 39795703 37464023 19271814 15685483 20523889 21778540 X THE USUAL PUBLIC ACTIVITITES OF THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVSERSITY BUSINESS OFFICERS (NACUBO) ARE TO DEVELOP, PROMOTE, AND IMPROVE BUSINESS AND FINANCIAL PRINCIPLES AND PRACTICES IN THE ADMINISTRATION OF INSTITUTIONS OF HIGHER EDUCATION AND TO FOSTER AMONG MEMBER INSTITUTIONS PROFESSIONAL IDEALS AND STANDARDS IN BUSINESS AND FINANCIAL ADMINISTRATION.NACUBO'S CORE MISSION IS TO IMPROVE FINANCIAL AND ADMINISTRATIVE MANAGEMENT AT INSTITUTIONS OF HIGHER EDUCATION. TO THIS END, NACUBO MARSHALS EXPERTISE, SHARES KNOWLEDGE, PROVIDES TECHNICAL ASSISTANCE, AND ENCOURAGES INNOVATION IN BUSINESS PRACTICES. AREAS OF FOCUS INCLUDE ACCOUNTING AND FINANCIAL MANAGEMENT INCLUDING ENDOWMENTS AND DEBT, TAXATION, STUDENT FINANCIAL SERVICES, AND BUSINESS OPERATIONS INCLUDING INFORMATION TECHNOLOGY AND FACILITIES MANAGEMENT. 0 0 5327776 119100 4306627 CONFERENCES, WORKSHOPS, AND SEMINARS:THE NACUBO ANNUAL MEETING IS THE MOST IMPORTANT PROFESSIONAL DEVELOPMENT EVENT OF THE YEAR FOR COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND THEIR STAFF. THE NACUBO 2024 ANNUAL MEETING TOOK PLACE IN CHICAGO, ILLINOIS. SESSION TOPICS INCLUDED: STRATEGIES FOR EFFECTIVE LEADERSHIP AND INNOVATIVE APPROACHES TO BUSINESS OFFICE CHALLENGES, STRATEGIC PLANNING, UNDERSTANDING AND NAVIGATING REGULATORY COMPLIANCE IN HIGHER EDUCATION, PLANNING AND BUDGETING IN HIGHER EDUCATION, ENTERPRISE RISK MANAGEMENT, COLLEGE ATHLETICS, MANAGING ORGANIZATIONAL CHANGE, ENDOWMENT MANAGEMENT, AND MANY OTHER TECHNICAL, MANAGERIAL, AND LEADERSHIP ISSUES.IN ADDITION TO THE ANNUAL MEETING, NACUBO CREATES AND DELIVERS A BROAD RANGE OF PROGRAMS, SERVICES, AND PRODUCTS THAT ARE DESIGNED TO STRENGTHEN THE ABILITIES AND KNOWLEDGE OF CAMPUS ADMINISTRATORS AT ALL LEVELS. NACUBO DEVELOPED A VARIETY OF ONLINE WORKSHOPS, WEBINARS, AND OTHER MATERIALS COVERING TOPICS IN THE FIELDS OF ACCOUNTING, HIGHER EDUCATION FINANCE, LEADERSHIP AND MANAGEMENT, TAX, STUDENT FINANCIAL SERVICES, CAMPUS OPERATIONS, AND TECHNOLOGY. NACUBO IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. NACUBO ADMINISTERS A CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT PROGRAM FOR CERTIFIED PUBLIC ACCOUNTANTS. 4190090 0 0 MEMBER SERVICES:UNIVERSITIES - THE ASSOCIATION KEEPS MEMBERS INFORMED OF FEDERAL ACTIONS, SOLICITS MEMBER OPINIONS AND CONCERNS, AND ADVOCATES FOR THE BEST INTERESTS OF COLLEGES AND UNIVERSITIES WITH CONGRESS AND FEDERAL AGENCIES. THE ASSOCIATIONS REPRESENTING VARIOUS HIGHER EDUCATION CONSTITUENCIES. IN ADDITION, NACUBO IS THE VOICE FOR HIGHER EDUCATION WITH THE VARIOUS BODIES THAT SET STANDARDS FOR ACCOUNTING PRACTICES, SUCH AS THE FINANCIAL ACCOUNTING STANDARDS BOARD, THE ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS, AND THE U.S. GENERAL ACCOUNTING OFFICE. RESEARCH - NACUBO UNDERTAKES BOTH ON-GOING LONGITUDINAL STUDIES IMPORTANT TO THE HIGHER EDUCATION INDUSTRY SUCH AS THE ASSOCIATION'S ANNUAL STUDY OF COLLEGE AND UNIVERSITY ENDOWMENTS AND SHORT SURVEYS OR RESEARCH ON SPECIFIC ISSUES OF CONCERN.GRANTS - NACUBO RECEIVED FUNDING FOR A GRANT TO SERVE ITS MEMBERS AND DEVELOP STRATEGIC FINANCE MODELS THAT PRIORITIZE AND SUSTAIN STUDENT EQUITY, SUCCESS, AND COMPLETION INITIATIVES. DURING THE THREE-YEAR GRANT, NACUBO WILL FACILITATE THE CREATION OF FRAMEWORKS, TOOLS, AND MODELS THAT CAN MOVE INSTITUTIONS TOWARDS SUSTAINABLE, INSTITUTION-WIDE FINANCIAL AND OPERATIONAL ACTIVITIES THAT INCREASE EQUITABLE OUTCOMES AND COMPLETION FOR STUDENTS. THE WORK WILL PARTICULARLY FOCUS ON WAYS TO INCREASE GUIDED PATHWAYS AND IMPROVE TRANSFER OUTCOMES.REGIONAL ASSOCIATIONS AND PARTNERSHIPS - NACUBO MANAGES AN ASSOCIATION MANAGEMENT SYSTEM THAT SERVES THE JOINT MEMBERSHIP OF THE NATIONAL ASSOCIATION AND ITS FOUR REGIONAL AFFILIATED ASSOCIATIONS (CACUBO, EACUBO, SACUBO AND WACUBO). THE SYSTEM CAPTURES A VARIETY OF DATA POINTS THAT ENABLE IMPROVED TRACKING OF INDIVIDUAL MEMBER ACTIVITY AND DUES BILLING AND COLLECTION PROCESSES. THIS DATABASE IS LINKED TO BOTH A CONTENT MANAGEMENT SYSTEM AND THE ASSOCIATION WEBSITE IMPROVING MEMBER SERVICE.AWARDS PROGRAM - NACUBO RECOGNIZES INSTITUTIONAL AND INDIVIDUAL EXCELLENCE THROUGH ITS AWARDS PROGRAM. THESE AWARDS WERE PRESENTED TO INDIVIDUALS WHO SHOWED OUTSTANDING ACHIEVEMENT AND EXEMPLARY PERFORMANCE IN THE AREAS OF FINANCIAL MANAGEMENT, ENDOWMENT MANAGEMENT, PROFESSIONAL DEVELOPMENT AND MORE. INSTITUTIONS WERE RECOGNIZED THAT DEMONSTRATED INNOVATION IN THE AREAS OF PROCESS IMPROVEMENT AND RESOURCE ENHANCEMENT. 2834478 0 0 ADVOCACY AND POLICY:NACUBO'S ADVOCACY AND PUBLIC POLICY TEAM TRACKS FEDERAL LEGISLATIVE AND REGULATORY ACTIVITIES THAT COULD IMPACT MEMBER INSTITUTIONS AND THE STUDENTS THAT THEY SERVE. THE TEAM'S FOCUS IS TO REPRESENT AND SERVE THE DIVERSE NEEDS OF THE COLLEGE AND UNIVERSITY BUSINESS OFFICE. KEY ACTIVITIES INCLUDE ADVOCACY BEFORE LEGISLATORS AND STAFF, EXECUTIVE BRANCH STAFF, AND OTHER POLICYMAKERS AS WELL AS PARTICIPATION IN ADVOCACY COALITIONS. IT ALSO INCLUDES COMMUNICATING POLICY AND RELEVANT HIGHER EDUCATION SECTOR UPDATES TO NACUBO MEMBERS. 1792319 0 1526689 CONSULTING:NACUBO CONSULTING PROVIDES PRACTICAL GUIDANCE TO HIGHER EDUCATION INSTITUTIONS. OUR AIM IS TO BE AN INSTITUTION'S PARTNER IN PRACTICE. NACUBO CONSULTANTS BRING EXPERTISE, EXPERIENCE, AND LEADERSHIP ABILITIES TO EVERY ENGAGEMENT SEEKING TO SUPPORT INSTITUTIONS IN CRITICAL AREAS. ALL OF THE CONSULTING ENGAGEMENTS ARE CUSTOMIZED WITH DEFINED SCOPES OF WORK TO SUPPORT MEMBER'S WORK THROUGH COMPLEX PROBLEMS OR IMPROVE OPERATIONS. 118297 0 158669 PUBLICATIONS AND OTHER PRODUCTS:NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS REMAINS A SOURCE OF PROFESSIONAL INFORMATION FOR MEMBERS. NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS SELLS APPROXIMATELY 12 PUBLICATION TITLES. 1910616 0 1685358 14262960 1 1 0 1 0 0 0 0 0 1 1 0 0 1 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 1 87 0 1 57 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 23 22 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X CHRISTIN MARTEN 2028612575 1110 VERMONT AVENUE NW SUITE 800 WASHINGTON DC 20005 KARA FREEMAN PRESIDENT & CEO 35.00 X X 564898 0 73065 LAURA HUBBARD ACTING CHAIR & VICE CHAIR 1.00 X X 0 0 0 RUSS HANNAH IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 TASHNI-ANN DUBROY BOARD VICE CHAIR (UNTIL 12/24) 1.00 X X 0 0 0 DARRELL DUNCAN SECRETARY 1.00 X X 0 0 0 CHOI HALLADAY DIRECTOR 1.00 X 0 0 0 ANGELA BLANTON DIRECTOR (UNTIL 07/24) 1.00 X 0 0 0 BRAD BACA DIRECTOR (UNTIL 07/24) 1.00 X 0 0 0 BRETT SWEET DIRECTOR 1.00 X 0 0 0 CLAIR KNAPP DIRECTOR (UNTIL 07/24) 1.00 X 0 0 0 DAWN ALSTON DIRECTOR 1.00 X 0 0 0 DEBBIE MULLER DIRECTOR 1.00 X 0 0 0 ELLEN HERBST DIRECTOR 1.00 X 0 0 0 GUADALUPE VALENCIA-SKANES DIRECTOR 1.00 X 0 0 0 JAMES S MATTEO DIRECTOR 1.00 X 0 0 0 JOHN W CRAWFORD DIRECTOR (UNTIL 07/24) 1.00 X 0 0 0 JOSE C RODRIGUEZ DIRECTOR 1.00 X 0 0 0 KELLY FOX DIRECTOR (UNTIL 07/24) 1.00 X 0 0 0 MARK VOLPATTI DIRECTOR 1.00 X 0 0 0 MICHAEL D VOLNA DIRECTOR 1.00 X 0 0 0 MICHAEL CLUNE DIRECTOR 1.00 X 0 0 0 NOEL A SLOAN DIRECTOR 1.00 X 0 0 0 RAYSA LEE-GRAY DIRECTOR 1.00 X 0 0 0 ROBYN PENNIGTON DIRECTOR 1.00 X 0 0 0 ROMAYNE L BOTTI DIRECTOR 1.00 X 0 0 0 SARA F THORNDIKE DIRECTOR 1.00 X 0 0 0 SHANTAY BOLTON DIRECTOR 1.00 X 0 0 0 SHARI MAYER DIRECTOR 1.00 X 0 0 0 STEVEN MANDEVILLE DIRECTOR 1.00 X 0 0 0 TADELETCH YIMAM VP, OPERATIONS & MEMBER ENGAGEMENT 35.00 X 238859 0 33497 TIMOTHY ROBERSON VP, LEADERSHIP DEVELOPMENT 35.00 X 189597 0 34667 ELIZABETH CLARK VP, POLICY & RESEARCH 35.00 X 247849 0 28397 TIMOTHY J MCDONOUGH SENIOR VP FOR STRATEGIC PARTNERSHIP 35.00 X 307864 0 75674 KELLI RAINEY SR DIR, STUDENT SUCCESS INITIATIVES 35.00 X 157811 0 27897 LINDSAY WAYT SR DIR, BUSINESS INTELLIGENCE 35.00 X 139520 0 24317 SUSAN MENDITTO SENIOR DIRECTOR, ACCOUNTING POLICY 35.00 X 192634 0 40226 KASH'KA FAIN INFORMATION TECHNOLOGY 35.00 X 159286 0 27052 KENNETH REDD SR DIR, RESEARCH & POLICY ANALYSIS 35.00 X 138729 0 30604 2337047 0 395396 22 0 1 0 MARY WHEELER 201 DOVE RANCH RD BAYFIELD CO 81112 CONSULTING SERVICES 331015 TERRI DAUTCHER 2321 TURK ROAD DOYLESTOWN PA 18901 CONSULTING SERVICES 151588 SOVA SOLUTIONS 1201 SEVEN LOCKS RD 1025 STE 360 ROCKVILLE MD 20854 CONSULTING SERVICES 149660 BARBARA LARSON 477 STAGEBRIDGE RD LOVINGSTON VA 22949 CONSULTING SERVICES 119771 CAPITOL TAX PARTNERS 101 CONSTITUTION AVE NW STE 675 E WASHINGTON DC 20001 CONSULTING SERVICES 110000 6 9054428 2345598 11400026 CONFERENCES, WORKSHOPS & SEMINARS 900099 4306627 4306627 CONSULTING FEES 900099 1526689 1526689 ADVERTISING 541800 185194 185194 6018510 656305 656305 31293686 29513232 1780454 1780454 1780454 158669 0 158669 158669 MISCELLANEOUS REVENUE 900099 17767 17767 SHIPPING REVENUE 900099 2075 2075 19842 20033806 5991985 185194 2456601 X 119100 119100 1781328 1636888 144440 4418281 3037751 855487 525043 420817 285638 83400 51779 520094 370872 95140 54082 391781 292506 64659 34616 74920 74920 550685 550685 48000 48000 71340 71340 3339665 2962388 280785 96492 69704 53620 14679 1405 503924 465298 35680 2946 24298 18691 5117 490 876209 646165 165248 64796 794631 728842 60374 5415 3048653 3033632 15005 16 12000 9231 2527 242 226484 163848 43001 19635 126464 97283 26632 2549 PUBLICATIONS & PRINTING 93951 91404 1494 1053 UBI TAXES 62656 62656 MEMBERSHIP FEES 54898 54898 232709 84249 132411 16049 17862592 14262960 2723024 876608 12399908 1699166 1375064 118815 378750 207711 10935 10935 872711 866154 2643972 1462545 1179791 1181427 17561098 27748064 6017446 5631751 39795703 37464023 1366380 1165540 10591437 7897912 7313997 6622031 19271814 15685483 X 20034191 21433453 489698 345087 20523889 21778540 39795703 37464023 X 2171214 -929063 12500 X 0 1 X 1 0 X 9329709 14735471 10982015 10408131 11400026 56855352 2588448 3549288 5682203 5550471 5991985 23362395 11918157 18284759 16664218 15958602 17392011 80217747 0 0 0 80217747 327726 602395 672974 564681 656305 2824081 103646 172765 167073 189387 185194 818065 431372 775160 840047 754068 841499 3642146 373 47453 325100 126787 19842 519555 12349902 19107372 17829365 16839457 18253352 84379448 0.95070 0.94640 0.04320 0.04720 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 373. 2021 AMOUNT: $ 47,453. 2022 AMOUNT: $ 325,100. 2023 AMOUNT: $ 122,337. 2024 AMOUNT: $ 17,767. SHIPPING REVENUE - 2023 AMOUNT: $ 4,450. 2024 AMOUNT: $ 2,075. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 150105 150105 14112855 14262960 863148 215787 0 0 617730 773749 849327 863148 3103954 4655931 73962 71850 59402 150105 355319 154433 193437 212332 215787 775989 1163984 54051 4241 3192 55100 53006 2058 1013 54051 53006 988 988 53006 53006 1673 1673 53006 53123 903 1020 53006 0.00000 0.88020 0.11980 0 0 935031 755219 179812 203079 144976 58103 1505862 562350 943512 1181427 RIGHT OF USE ASSETS 5631751 5631751 LEASE LIABILITIES 6622031 6622031 19545903 -929063 500000 12500 -416563 19962466 71340 71340 20033806 18291252 500000 500000 17791252 71340 71340 17862592 PART V, LINE 4: EARNINGS ON THE PERMANENTLY RESTRICTED ENDOWMENT NET ASSETS ARE AVAILABLE FOR NACUBO AWARDS PROGRAMS AND INSTITUTIONAL CAPACITY DEVELOPMENT. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECOVERED BAD DEBT 12,500. 1 GENWHY COMMUNICATIONS 308 BETHESDA DR HUNTSVILLE AL 35803 922861330 11600 0 N/A N/A STIPEND KALAMAZOO VALLEY COMMUNITY COLLEGE 6767 WEST O AVENUE KALAMAZOO MI 49003 382307720 GOV'T 7500 0 N/A N/A STIPEND GREAT FALLS COLLEGE MONTANA STATE UNIVERSITY 2100 16TH AVE S GREAT FALLS MT 59405 810522790 GOV'T 7500 0 N/A N/A STIPEND BROOKLYN COLLEGE 2900 BEDFORD AVE BROOKLYN NY 11210 111904329 GOV'T 6500 0 N/A N/A STIPEND ATLANTIC CAPE COMMUNITY COLLEGE 5100 BLACK HORSE PIKE MAYS LANDING NJ 08330 237368159 GOV'T 6500 0 N/A N/A STIPEND RUTGERS THE STATE UNIVERSITY 33 KNIGHSTBRIDGE ROAD ROOM C281 PISCATAWAY NJ 08854 226001086 GOV'T 6000 0 N/A N/A STIPEND 5 1 PART I, LINE 2: THE GRANT RECIPIENTS WERE PART OF A PILOT PROGRAM DESIGNED TO HELP THEM LEARN HOW TO USE AND IMPLEMENT THE TOOLS OF THE STUDENT SUCCESS HUB AT THEIR SCHOOL. THEY RECEIVED SOME FUNDING TO SUPPORT THIS INITIATIVE. THE TOOLS PROVIDED INCLUDE IMPROVING DATA GOVERNANCE, BUDGETING STRATEGIES, AND ANALYZING IPEDS DATA TO ASSESS AND DEVELOP METRICS AND DASHBOARDS INTERNALLY WITHIN THE SCHOOL. THE SELECTION CRITERIA WERE RELATED TO THE OVERALL GOALS OF THE GRANT PROGRAM. WE AIMED FOR A MIX OF PUBLIC REGIONALS, PRIVATE INSTITUTIONS, AND SO ON. THE SELECTED SCHOOLS NEEDED TO BE WILLING AND ABLE TO PARTICIPATE AND PROVIDE FEEDBACK THROUGHOUT THE PROGRAM. FINANCE IS NOT INVOLVED WITH MONITORING THESE GRANTS BECAUSE THEY'RE NOT TRADITIONAL GRANTS. INSTEAD, THEY SERVE AS A VEHICLE TO SUPPORT THE LAUNCH OF THE STUDENT SUCCESS HUB PROGRAM. FOR ACCOUNTING, NACUBO CONDUCTS MONTHLY REVIEWS AND TRACKS ACCURATE EXPENSES TO ENSURE EVERYTHING IS IN ORDER. X X X X 0 0 0 0 0 0 0 0 0 KARA FREEMAN PRESIDENT & CEO 504757 0 57500 0 2641 0 45783 0 27282 0 637963 0 0 0 TIMOTHY J MCDONOUGH SENIOR VP FOR STRATEGIC PARTNERSHIP 307564 0 0 0 300 0 35464 0 40210 0 383538 0 0 0 ELIZABETH CLARK VP, POLICY & RESEARCH 237549 0 10000 0 300 0 26680 0 1717 0 276246 0 0 0 TADELETCH YIMAM VP, OPERATIONS & MEMBER ENGAGEMENT 228859 0 10000 0 0 0 21265 0 12232 0 272356 0 0 0 SUSAN MENDITTO SENIOR DIRECTOR, ACCOUNTING POLICY 190446 0 1000 0 1188 0 21214 0 19012 0 232860 0 0 0 TIMOTHY ROBERSON VP, LEADERSHIP DEVELOPMENT 179075 0 10000 0 522 0 20218 0 14449 0 224264 0 0 0 KASH'KA FAIN INFORMATION TECHNOLOGY 157098 0 1000 0 1188 0 17247 0 9805 0 186338 0 0 0 KELLI RAINEY SR DIR, STUDENT SUCCESS INITIATIVES 151623 0 5000 0 1188 0 16757 0 11140 0 185708 0 0 0 KENNETH REDD SR DIR, RESEARCH & POLICY ANALYSIS 132523 0 4500 0 1706 0 15108 0 15496 0 169333 0 0 0 LINDSAY WAYT SR DIR, BUSINESS INTELLIGENCE 133832 0 4500 0 1188 0 14706 0 9611 0 163837 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A EXECUTIVE GOVERNANCE COMMITTEE. THE EXECUTIVE GOVERNANCE COMMITTEE SHALL CONSIST OF THE CHAIR OF THE BOARD OF DIRECTORS, THE PRESIDENT, THE SECRETARY, THE VICE CHAIR, THE CHAIR OF THE FINANCE AND AUDIT COMMITTEE, THE PAST BOARD CHAIR, AND UP TO TWO ADDITIONAL MEMBERS WHO SHALL BE DESIGNATED BY THE BOARD CHAIR AND APPROVED BY THE BOARD OF DIRECTORS. THE EXECUTIVE GOVERNANCE COMMITTEE SHALL CARRY OUT THE BOARD'S OVERALL RESPONSIBILITY WITH RESPECT TO OVERSEEING THE BOARD'S COMMITTEE STRUCTURE; MONITORING THE ORIENTATION AND CONTINUING EDUCATION OF DIRECTORS; ENSURING COMPLIANCE WITH LEGAL, ETHICAL, AND CONTRACTUAL OBLIGATIONS; DETERMINING THE COMPENSATION OF NACUBO SENIOR STAFF AND ALL DISQUALIFIED PERSONS; AND EXERCISING THE BOARD'S AUTHORITY WHEN THE BOARD IS NOT IN SESSION EXCEPT AS SPECIFICALLY LIMITED BY THE BOARD, THE BYLAWS, AND APPLICABLE LAW. ALL ACTION APPROVED, TAKEN, AND RATIFIED BY THE COMMITTEE SHALL BE DEEMED TO BE, AND MAY BE CERTIFIED AS BEING APPROVED, TAKEN, AND RATIFIED UNDER AUTHORITY OF THE BOARD. ACTIONS TAKEN BY THE EXECUTIVE GOVERNANCE COMMITTEE SHALL BE REPORTED TO THE BOARD OF DIRECTORS AT ITS NEXT REGULARLY SCHEDULED MEETING. THE EXECUTIVE GOVERNANCE COMMITTEE SHALL BE RESPONSIBLE FOR MAINTAINING AN EFFECTIVE WORKING RELATIONSHIP WITH THE PRESIDENT, SHALL NEGOTIATE WITH THE PRESIDENT HIS OR HER EMPLOYMENT CONTRACT, AND SHALL ANNUALLY EVALUATE THE PRESIDENT'S PERFORMANCE. FORM 990, PART VI, SECTION A, LINE 6 NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS HAS THE FOLLOWING TYPES OF MEMBERS: HIGHER EDUCATION INSTITUTION, ASSOCIATE, PROVISIONAL, CORPORATE, AFFILIATE, GOVERNING BOARD, AND STUDENT/RETIREE. FORM 990, PART VI, SECTION A, LINE 7B DUES INCREASES ARE SUBJECT TO MEMBER APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B NATIONAL ASSOCIATION OF COLLEGE AND THE BOARD MEMBERS WILL CONDUCT A THOROUGH REVIEW OF THE 990 BEFORE THE DOCUMENTS ARE FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE HR MONITORS COMPLIANCE WITH CONFLICT OF INTEREST POLICY. EACH EMPLOYEE HAS A DUTY TO PLACE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS' INTERESTS FOREMOST IN ANY PERSONAL DEALINGS WITH NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND HAS A CONTINUING RESPONSIBILITY TO COMPLY WITH THE REQUIREMENTS OF THIS POLICY. THE CONDUCT OF PERSONAL BUSINESS BETWEEN ANY EMPLOYEE AND NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS IS PROHIBITED WITHOUT WRITTEN APPROVAL OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS, AFTER FULL DISCLOSURE BY THE EMPLOYEE. EACH EMPLOYEE MUST SIGN THE CONFLICT OF INTEREST DISCLOSURE STATEMENT FOR PURPOSES OF PROVIDING MANAGEMENT WITH THE INFORMATION NEEDED TO IMPLEMENT THIS POLICY. EMPLOYEE DISCLOSURE STATEMENTS WILL BE REVIEWED BY THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS PRESIDENT, WHO WILL RESOLVE ANY ACTUAL OR POTENTIAL CONFLICT(S). EACH EMPLOYEE SHALL ANNUALLY SIGN A DISCLOSURE STATEMENT WHICH AFFIRMS THAT SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY. THE DISCLOSURE STATEMENT WILL ALSO PROVIDE AN OPPORTUNITY TO DISCLOSE OR DISCLAIM SPECIFIC FINANCIAL INTERESTS. THIS POLICY APPLIES TO THE BOARD OF DIRECTORS AS WELL AS ALL EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION USES AN INDEPENDENT COMPENSATION CONSULTANT AND COMPENSATION SURVEYS AND STUDIES TO DETERMINE THE APPROPRIATE COMPENSATION AMOUNTS FOR THE PRESIDENT. ONCE APPROVED BY THE COMPENSATION COMMITTEE, A WRITTEN EMPLOYMENT CONTRACT IS WRITTEN FOR THE PRESIDENT/CHIEF EXECUTIVE OFFICER AND THE EXECUTIVE MANAGEMENT TEAM. QUATT ASSOCIATES WAS USED TO CONDUCT OUR MOST RECENT ORGANIZATION WIDE COMPENSATION REVIEW. OUR PRESIDENT OVERSAW THIS REVIEW PROCESS WITH THE INDEPENDENT COMPENSATION CONSULTANT. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. IT DOES NOT MAKE ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G SERVICE CENTER FEES: PROGRAM SERVICE EXPENSES 884,617. MANAGEMENT AND GENERAL EXPENSES 83,847. FUNDRAISING EXPENSES 28,814. TOTAL EXPENSES 997,278. HONORARIA: PROGRAM SERVICE EXPENSES 181,291. MANAGEMENT AND GENERAL EXPENSES 17,183. FUNDRAISING EXPENSES 5,905. TOTAL EXPENSES 204,379. CONSULTANTS: PROGRAM SERVICE EXPENSES 1,889,998. MANAGEMENT AND GENERAL EXPENSES 179,141. FUNDRAISING EXPENSES 61,562. TOTAL EXPENSES 2,130,701. TEMPORARY AGENCY: PROGRAM SERVICE EXPENSES 6,482. MANAGEMENT AND GENERAL EXPENSES 614. FUNDRAISING EXPENSES 211. TOTAL EXPENSES 7,307. FORM 990, PART XI, LINE 9: RECOVERED BAD DEBT 12,500.