TY 2013 Form 990 Schedule O

efile Public Visual Render ObjectId: 201521349349303462 - Submission: 2015-05-14 TIN: 04-1591060

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2013

Open to Public
Inspection

Name of the organization

THE NEW ENGLAND COLLEGE OF OPTOMETRY

Employer identification number

04-1591060

Return Reference	Explanation
FORM 990, PART VI, SECTION B, LINE 11	THE FORM 990 IS REVIEWED BY MANAGEMENT AND APPROVED BY THE COLLEGE'S AUDIT AND COMPLIANCE COMMITTEE. IT IS FURNISHED TO ALL TRUSTEES PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12C	THE COLLEGE'S WRITTEN CONFLICT OF INTEREST POLICY REQUIRES TRUSTEES, OFFICERS, AND KEY EMPLOYEES TO REPORT AT LEAST ANNUALLY, ON A WRITTEN BASIS, ANY CONFLICT OR POTENTIAL CONFLICT OF INTEREST. THOSE STATEMENTS ARE FIRST REVIEWED BY THE GOVERNANCE AND TRUSTEESHIP COMMITTEE AND THEN REFERRED TO THE AUDIT AND COMPLIANCE COMMITTEE. AFTER REVIEW AND CLARIFICATION, THOSE CONFLICTS ARE DISCUSSED WITH THE FULL BOARD IRRESPECTIVE OF DOLLAR AMOUNT. DIRECTORS ARE PROHIBITED FROM VOTING ON MATTERS INVOLVING AN ACTUAL OR POTENTIAL CONFLICT AND ARE REQUESTED TO RECUSE THEMSELVES FROM VOTING ON SUCH MATTERS.
FORM 990, PART VI, SECTION B, LINE 15	NECO'S PRACTICE HAS BEEN TO HAVE THE EXECUTIVE COMMITTEE DETERMINE AN APPROPRIATE COMPENSATION PACKAGE FOR ITS PRESIDENT AND TO NEGOTIATE SAME. THE EXECUTIVE COMMITTEE REVIEWS COMPENSATION DATA FROM OTHER COLLEGES OF OPTOMETRIC EDUCATION INCLUDING DATA FROM 990'S AS WELL AS STATE FILINGS. THE EXECUTIVE COMMITTEE ON OCCASION HAS USED AN OUTSIDE SEARCH FIRM OR OTHER COMPENSATION CONSULTANTS. THE PRESIDENT OF NECO SETS THE COMPENSATION OF ITS KEY EMPLOYEES USING COMPARABILITY DATA, INCLUDING 990, STATE FILINGS AND CPI DATA, PROVIDED BY THE DIRECTOR OF HUMAN RESOURCES AS WELL AS INPUT FROM THE CFO.
FORM 990, PART VI, SECTION C, LINE 19	THE FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE VIA THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. THE FORM 990 IS ALSO AVAILABLE VIA WWW.GUIDESTAR.ORG. THE GOVERNING DOCUMENTS ARE PUBLISHED ON OUR WEBSITE. THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST.
FORM 990, PART XI, LINE 9:	CHANGE IN VALUE OF LIFE INCOME FUNDS 22,207. CHANGE IN VALUE OF ANNUITY OBLIGATIONS -5,727. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 65,679.

Return Reference

Explanation

FORM 990, PART VI, SECTION B, LINE 11

THE FORM 990 IS REVIEWED BY MANAGEMENT AND APPROVED BY THE COLLEGE'S AUDIT AND COMPLIANCE COMMITTEE. IT IS FURNISHED TO ALL TRUSTEES PRIOR TO FILING.

FORM 990, PART VI, SECTION B, LINE 12C

THE COLLEGE'S WRITTEN CONFLICT OF INTEREST POLICY REQUIRES TRUSTEES, OFFICERS, AND KEY EMPLOYEES TO REPORT AT LEAST ANNUALLY, ON A WRITTEN BASIS, ANY CONFLICT OR POTENTIAL CONFLICT OF INTEREST. THOSE STATEMENTS ARE FIRST REVIEWED BY THE GOVERNANCE AND TRUSTEESHIP COMMITTEE AND THEN REFERRED TO THE AUDIT AND COMPLIANCE COMMITTEE. AFTER REVIEW AND CLARIFICATION, THOSE CONFLICTS ARE DISCUSSED WITH THE FULL BOARD IRRESPECTIVE OF DOLLAR AMOUNT. DIRECTORS ARE PROHIBITED FROM VOTING ON MATTERS INVOLVING AN ACTUAL OR POTENTIAL CONFLICT AND ARE REQUESTED TO RECUSE THEMSELVES FROM VOTING ON SUCH MATTERS.

FORM 990, PART VI, SECTION B, LINE 15

NECO'S PRACTICE HAS BEEN TO HAVE THE EXECUTIVE COMMITTEE DETERMINE AN APPROPRIATE COMPENSATION PACKAGE FOR ITS PRESIDENT AND TO NEGOTIATE SAME. THE EXECUTIVE COMMITTEE REVIEWS COMPENSATION DATA FROM OTHER COLLEGES OF OPTOMETRIC EDUCATION INCLUDING DATA FROM 990'S AS WELL AS STATE FILINGS. THE EXECUTIVE COMMITTEE ON OCCASION HAS USED AN OUTSIDE SEARCH FIRM OR OTHER COMPENSATION CONSULTANTS. THE PRESIDENT OF NECO SETS THE COMPENSATION OF ITS KEY EMPLOYEES USING COMPARABILITY DATA, INCLUDING 990, STATE FILINGS AND CPI DATA, PROVIDED BY THE DIRECTOR OF HUMAN RESOURCES AS WELL AS INPUT FROM THE CFO.

FORM 990, PART VI, SECTION C, LINE 19

THE FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE VIA THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. THE FORM 990 IS ALSO AVAILABLE VIA WWW.GUIDESTAR.ORG. THE GOVERNING DOCUMENTS ARE PUBLISHED ON OUR WEBSITE. THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST.

FORM 990, PART XI, LINE 9:

CHANGE IN VALUE OF LIFE INCOME FUNDS 22,207. CHANGE IN VALUE OF ANNUITY OBLIGATIONS -5,727. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 65,679.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2013

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