Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
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| FORM 990, PART VI, SECTION A, LINE 6 | SECTION 1. MEMBERS. THE CORPORATION SHALL HAVE THREE CLASSES OF MEMBERSHIP: (A) NATIONAL COUNCIL MEMBERS, (B) COLLEGIATE MEMBERS, AND (C) LOCAL HOUSE CORPORATION MEMBERS. (A) NATIONAL COUNCIL MEMBERS SHALL BE, AT ANY PARTICULAR TIME, THOSE INDIVIDUALS WHO, AT SUCH TIME, ARE SERVING ON THE NATIONAL COUNCIL OF ALPHA CHI OMEGA FRATERNITY, INC. ("FRATERNITY") AND SHALL HAVE THOSE RIGHTS AND OBLIGATIONS AS SET FORTH IN THE INDIANA NONPROFIT CORPORATION ACT (THE "ACT"), THESE BYLAWS AND THE ARTICLES OF INCORPORATION OF THE CORPORATION. (B) COLLEGIATE MEMBERS SHALL BE THOSE WHO ARE INITIATED INTO ALPHA CHI OMEGA FRATERNITY AND WHO ARE CURRENTLY AN ACTIVE MEMBER OF AN ALPHA CHI OMEGA CHAPTER AS DESCRIBED IN THE FRATERNITY'S POLICIES. COLLEGIATE MEMBERS SHALL ONLY HAVE SUCH RIGHTS AS ARE SET FORTH IN THE CORPORATION'S BYLAWS. (C) LOCAL HOUSE CORPORATION MEMBERS SHALL BE LOCAL HOUSE CORPORATIONS, AND PROPERTY MANAGEMENT TEAMS, DULY FORMED UNDER THE LAW OF THEIR STATE AND THE POLICIES OF ALPHA CHI OMEGA, THAT OWN, LEASE AND/OR MANAGE A FACILITY FOR THE USE OF A COLLEGIATE CHAPTER OF ALPHA CHI OMEGA. LOCAL HOUSE CORPORATION. |
| FORM 990, PART VI, SECTION A, LINE 7A | ONE OF THE DIRECTORS SHALL BE THE NATIONAL PRESIDENT OF THE FRATERNITY OR HER DESIGNATED NATIONAL COUNCIL REPRESENTATIVE. THE REMAINING DIRECTORS SHALL BE ELECTED BY THE NATIONAL COUNCIL MEMBERS OF THE CORPORATION. |
| FORM 990, PART VI, SECTION B, LINE 11B | PROCESS FOR REVIEW OF FORM 990 - THIS FORM 990 WAS PREPARED BY A PUBLIC ACCOUNTING FIRM AND REVIEWED IN DETAIL BY THE NHC'S FINANCE STAFF. THE FORM WAS THEN SENT TO ALL MEMBERS OF THE BOARD OF DIRECTORS FOR REVIEW. THE FORM WAS APPROVED BY THE BOARD OF DIRECTORS AT A REGULAR MONTHLY MEETING PRIOR TO BEING FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | PROCESS FOR MONITORING AND ENFORCING COMPLIANCE WITH CONFLICT OF INTEREST POLICY - MEMBERS OF THE BOARD OF DIRECTORS COMPLETE A COMBINED FIDUCIARY DUTY AND DISCLOSURE FORM ANNUALLY. THESE FORMS ARE COLLECTED AND REVIEWED BY THE FRATERNITY'S DIRECTOR OF EXECUTIVE OPERATIONS. ANY CONFLICTS OF INTEREST IDENTIFIED ON THE FORMS ARE REPORTED TO THE CEO AND BOARD CHAIR FOR FOLLOWUP AND RESOLUTION AS THOSE INDIVIDUALS DEEM APPROPRIATE. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION OF ALPHA CHI OMEGA'S CHIEF EXECUTIVE OFFICER (CEO) IS SET BY ALPHA CHI OMEGA FRATERNITY'S NATIONAL COUNCIL. THE COMPENSATION OF THE SENIOR FINANCIAL CONTROLLER (SFC) IS REVIEWED FOR REASONABLENESS BY THE NATIONAL COUNCIL. THE FRATERNITY ACTS AS THE COMMON PAYMASTER FOR ALL FOUR ALPHA CHI OMEGA ENTITIES AND ALLOCATES A PORTION OF THE CEO'S AND THE SFC'S SALARIES TO EACH ENTITY. BENCHMARK DATA RELATED TO THE CEO'S AND SFC'S COMPENSATION IS OBTAINED ANNUALLY BY THE NATIONAL COUNCIL FROM SEVERAL PUBLISHED SALARY SURVEYS. THE NATIONAL COUNCIL REVIEWS THE BENCHMARK DATA AND ENSURES THAT THE DATA POINTS ARE RELATED TO POSITIONS COMPARABLE TO ALPHA CHI OMEGA'S CEO AND SFC POSITIONS. THE NATIONAL COUNCIL THEN MEETS IN EXECUTIVE SESSION, COMPARES APPROPRIATE BENCHMARK DATA POINTS TO THE CEO AND SFC'S ACTUAL COMPENSATION, DETERMINES CHANGES TO THE CEO'S COMPENSATION IF APPROPRIATE, DETERMINES WHETHER THE SFC'S COMPENSATION IS REASONABLE IN LIGHT OF THE BENCHMARKS AND DIRECTS THE FRATERNITY'S PAYROLL STAFF TO MAKE CHANGES TO THE CEO'S COMPENSATION IF APPROPRIATE. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. |
| FORM 990, PART VII OFFICER'S COMPENSATION | THE CHIEF EXECUTIVE OFFICER IS COMPENSATED THOUGH THE ALPHA CHI OMEGA FRATERNITY, BUT ALSO SERVES AS THE CHIEF EXECUTIVE OFFICER ON ALPHA CHI OMEGA NATIONAL HOUSING CORPORATION (NHC) AND ALPHA CHI OMEGA FOUNDATION, INC. (FOUNDATION). THE NHC AND FOUNDATION REIMBURSE THE FRATERNITY FOR A PERCENTAGE OF THE CHIEF EXECUTIVE OFFICER'S SALARY AND BENEFITS. THE AMOUNT OF REIMBURSED SALARY IS REFLECTED ON PART IX, LINE 5, OFFICER'S COMPENSATION. |
| FORM 990, PART XII, LINE 2C | THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
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