| Form 990, Part VI, Section A, line 3 |
IABCU outsources the planning and execution of its financial and exempt operations to Ashley Hill, Executive Secretary, who is employed and compensated by Samford University. In turn, IABCU pays a monthly fee to Samford University that covers Ms. Hill's compensation, which was $87,990, including salary and benefits, for fiscal year 2021. |
| Form 990, Part VI, Section A, line 6 |
IABCU consists of those institutions admitted into membership. All members have the same rights and each is entitled to two votes on each matter on which members vote. Members elect the governing body and approve significant decisions of the governing body. |
| Form 990, Part VI, Section A, line 7a |
IABCU consists of those institutions admitted into membership, and who have not resigned, forfeited membership, or been terminated. Members elect the members of the governing body. Each member is entitled to two votes. One of the member's votes may be cast by the member's chief executive officer, and one may be cast by the member's chief academic officer. If either or both of these representatives of the member is absent from the meeting, the member may designate another officer or agent who may, if present, cast the member's vote. The corporation may rely on the representations of such officer or agent as to his or her authority to cast the member's vote unless such authority is questioned. Neither cumulative voting nor voting by proxy shall be permitted. |
| Form 990, Part VI, Section A, line 7b |
IABCU consists of those institutions admitted into membership, and who have not resigned, forfeited membership, or been terminated. Each member is entitled to two votes on each matter on which members vote. Members have the right to vote to amend the bylaws, fix dues, approve the budget, and to approve the corporation's contracting to borrow money. Members also have the statutory right to vote on any amendment to the corporation's charter, to approve merger, to approve the sale of all or substantially all of the assets not in the regular course of activities, and to remove directors. One of the member's votes may be cast by the member's chief executive officer, and one may be cast by the member's chief academic officer. If either or both of these representatives of the member is absent from the meeting, the member may designate another officer or agent who may, if present, cast the member's vote. The corporation may rely on the representations of such officer or agent as to his or her authority to cast the member's vote unless such authority is questioned. Neither cumulative voting nor voting by proxy shall be permitted. |
| Form 990, Part VI, Section B, line 11b |
Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS. |
| Form 990, Part VI, Section B, line 12c |
IABCU requires all board members to annually complete and sign a conflict of interest questionnaire. The Executive Secretary is responsible for reviewing the signed statements and ensuring that interested persons are in compliance with the conflict of interest policy. The board is responsible for revieiwing the Executive Secretary's signed statement. If a matter related to a potential conflict were to arise at a board meeting, the interested person would abstain from voting on matters related to the noted conflict. |
| Form 990, Part VI, Section B, line 15 |
IABCU does not compensate any officers or key employees. Therefore, these lines were answered no in accordance with the instructions. |
| Form 990, Part VI, Section C, line 19 |
IABCU's governing documents, conflict of interest policy, and financial statements are available to the public upon request. |
Attach to Form 990 or 990-EZ.