TY 2021 Form 990 Schedule O

efile Public Visual Render ObjectId: 202301149349301075 - Submission: 2023-04-24 TIN: 04-1591060

SCHEDULE O
(Form 990)

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 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2021

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 11B	FORM 990 WAS REVIEWED IN DETAIL BY SENIOR MANAGEMENT AND ALSO REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. IT WAS FURNISHED TO THE FULL BOARD OF TRUSTEES BEFORE 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 FINANCE, AUDIT AND BUSINESS AFFAIRS COMMITTEE. AFTER REVIEW AND CLARIFICATION, THOSE CONFLICTS ARE ONLY DISCUSSED WITH THE FULL BOARD WHEN VIEWED AS MATERIAL. 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	THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ESTABLISHES THE COMPENSATION (SALARY AND BENEFITS) OF THE PRESIDENT/CEO AND EXECUTIVE VP/CFO/COO BY IDENTIFYING COMPENSATION THAT IS REASONABLE AND NOT EXCESSIVE, AND IS SUFFICIENTLY COMPETITIVE TO RETAIN THE BEST POSSIBLE TALENT TO LEAD THE ORGANIZATION. SIMILARLY, THE PRESIDENT ESTABLISHES THE COMPENSATION FOR THE VP AND DEAN OF ACADEMIC AFFAIRS, USING ASCO DATA FOR SIMILAR POSITIONS AT OTHER SCHOOLS OF OPTOMETRY, ADJUSTED FOR THE COST OF LIVING IN SIMILAR GEOGRAPHIC LOCATIONS. THE EXECUTIVE COMMITTEE HAS PREVIOUSLY COMPLETED INDEPENDENT COMPENSATION STUDIES FOR EXECUTIVE LEADERSHIP. REVIEWS BY INDEPENDENT THIRD PARTIES ARE CONDUCTED EVERY THREE YEARS TO DETERMINE WHAT SIMILARLY-SIZED PEER ORGANIZATIONS, IN THE SAME GEOGRAPHIC LOCATION, OFFER THEIR EXECUTIVE LEADERSHIP, FACULTY AND STAFF.
FORM 990, PART VI, SECTION C, LINE 19	AUDITED FINANCIAL STATEMENTS ARE PUBLICLY AVAILABLE ON THE COLLEGE'S WEBSITE. AUDITED FINANCIAL STATEMENTS AND FORM 990 ARE PUBLICLY AVAILABLE ON THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. FORM 990 IS PUBLICLY AVAILABLE AT WWW.GUIDESTAR.ORG. FORM 990, GOVERNING DOCUMENTS, AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE ON WRITTEN REQUEST.
FORM 990, PART XI, LINE 9:	CHANGE IN VALUE OF ANNUITY OBLIGATIONS -2,573.

Return Reference

Explanation

FORM 990, PART VI, SECTION B, LINE 11B

FORM 990 WAS REVIEWED IN DETAIL BY SENIOR MANAGEMENT AND ALSO REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. IT WAS FURNISHED TO THE FULL BOARD OF TRUSTEES BEFORE 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 FINANCE, AUDIT AND BUSINESS AFFAIRS COMMITTEE. AFTER REVIEW AND CLARIFICATION, THOSE CONFLICTS ARE ONLY DISCUSSED WITH THE FULL BOARD WHEN VIEWED AS MATERIAL. 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

THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ESTABLISHES THE COMPENSATION (SALARY AND BENEFITS) OF THE PRESIDENT/CEO AND EXECUTIVE VP/CFO/COO BY IDENTIFYING COMPENSATION THAT IS REASONABLE AND NOT EXCESSIVE, AND IS SUFFICIENTLY COMPETITIVE TO RETAIN THE BEST POSSIBLE TALENT TO LEAD THE ORGANIZATION. SIMILARLY, THE PRESIDENT ESTABLISHES THE COMPENSATION FOR THE VP AND DEAN OF ACADEMIC AFFAIRS, USING ASCO DATA FOR SIMILAR POSITIONS AT OTHER SCHOOLS OF OPTOMETRY, ADJUSTED FOR THE COST OF LIVING IN SIMILAR GEOGRAPHIC LOCATIONS. THE EXECUTIVE COMMITTEE HAS PREVIOUSLY COMPLETED INDEPENDENT COMPENSATION STUDIES FOR EXECUTIVE LEADERSHIP. REVIEWS BY INDEPENDENT THIRD PARTIES ARE CONDUCTED EVERY THREE YEARS TO DETERMINE WHAT SIMILARLY-SIZED PEER ORGANIZATIONS, IN THE SAME GEOGRAPHIC LOCATION, OFFER THEIR EXECUTIVE LEADERSHIP, FACULTY AND STAFF.

FORM 990, PART VI, SECTION C, LINE 19

AUDITED FINANCIAL STATEMENTS ARE PUBLICLY AVAILABLE ON THE COLLEGE'S WEBSITE. AUDITED FINANCIAL STATEMENTS AND FORM 990 ARE PUBLICLY AVAILABLE ON THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. FORM 990 IS PUBLICLY AVAILABLE AT WWW.GUIDESTAR.ORG. FORM 990, GOVERNING DOCUMENTS, AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE ON WRITTEN REQUEST.

FORM 990, PART XI, LINE 9:

CHANGE IN VALUE OF ANNUITY OBLIGATIONS -2,573.

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

Cat. No. 51056K

Schedule O (Form 990) 2021

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