2024-06-27T12:36:14-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 10700 NORTHUP WAY SUITE 200 BELLEVUE WA 98004 990 2023-01-01 871031412 POSTSECONDARY COMMISSION POST 3392448914 75 ARLINGTON STREET 500 BOSTON MA 02116 CAROL RAVA VICE PRESIDENT & TREASURER 3392448914 2024-06-13 1 CAROL RAVA XXX-XX-XXXX 1 ALLEN GILBERT CPA P01380103 4252506100 2024-06-13 0 AAL1 IAL1 2023 2023-04-26 12:10:37Z STIG LESCHLY 75 ARLINGTON STREET 500 BOSTON MA 02116 4075290 0 X WWW.POSTSECONDARYCOMMISSION.ORG X 2021 MA THE POSTSECONDARY COMMISSION IS AN ACCREDITOR OF INSTITUTIONS OF HIGHER EDUCATION THAT PROVIDE STRONG ECONOMIC OUTCOMES TO THEIR STUDENTS. PSC IS SEEKING FEDERAL RECOGNITION FROM THE US DEPARTMENT OF EDUCATION TO BE A TITLE IV GATEKEEPING, INSTITUTIONAL ACCREDITOR. 10 10 8 10 0 0 1000000 4075150 10000 0 0 0 0 140 1010000 4075290 0 0 0 0 371194 1194753 0 0 62311 118165 810571 489359 2005324 520641 2069966 236220 2306186 4900 0 231320 2306186 X THE POSTSECONDARY COMMISSION IS AN ACCREDITOR OF INSTITUTIONS OF HIGHER EDUCATION THAT PROVIDE STRONG ECONOMIC OUTCOMES TO THEIR STUDENTS. 1 0 1495861 0 0 SEE SCHEDULE O 1495861 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 1 8 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X THE CHARITY CFO LLC 3143900220 1310 PAPIN STREET 300 ST LOUIS MO 63103 BETH AKERS COMMISSIONER 1.00 X 0 0 0 MARIA ANGUIANO COMMISSIONER 1.00 X 0 0 0 JIM BLEW COMMISSIONER 1.00 X 0 0 0 MARIA FLYNN COMMISSIONER 1.00 X 0 0 0 TIM KNOWLES COMMISSIONER 1.00 X 0 0 0 PAUL LEBLANC COMMISSIONER 1.00 X 0 0 0 TED MITCHELL COMMISSIONER 1.00 X 0 0 0 JAMES RUNCIE COMMISSIONER 1.00 X 0 0 0 CASEY SACKS COMMISSIONER 1.00 X 0 0 0 MARNI BAKER STEIN COMMISSIONER 1.00 X 0 0 0 LISA DAGGS VICE PRESIDENT, STRATEGY & ADVANCEMENT 40.00 X 260000 0 9331 STIG LESCHLY PRESIDENT 40.00 X 300000 0 2750 CAROL RAVA VICE PRESIDENT, OPERATIONS & EXTERNAL AFFAIRS 40.00 X 260000 0 21380 820000 0 33461 3 0 1 0 CHELSEA PENNUCCI 400 E 71ST STREET APT 18I NEW YORK NY 10021 ACCREDITATION MODEL DEVELOPMENT, KNOWLED 258750 JAKE WEISSBOURD 486 HURON AVE CAMBRIDGE MA 02138 EXTERNAL AFFAIRS AND PARTNERSHIPS 106134 2 4075150 4075150 2021 IRS REFUND 900099 140 140 140 4075290 0 0 140 X 853461 691489 105963 56009 243859 45957 197902 15051 6110 8941 11048 3214 7834 71334 45497 19535 6302 48557 22385 26172 26294 26294 636329 634603 1726 12272 9702 2570 8281 8281 9271 9271 53425 36904 16521 MISCELLANEOUS EXPENSES 16142 16142 2005324 1495861 447152 62311 236220 2306186 236220 2306186 4900 0 4900 0 X 231320 2306186 231320 2306186 236220 2306186 2069966 4900 0 X 0 1 X 0 0 X 1000000 4075150 5075150 1000000 4075150 5075150 3740964 1334186 140 140 5075290 10000 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: IRS REFUND - 2023 AMOUNT: $ 140. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 4075290 0 4075290 0 4075290 2005324 0 2005324 0 2005324 X X X 0 0 0 0 0 0 0 0 0 STIG LESCHLY PRESIDENT 300000 0 0 0 0 0 2750 0 0 0 302750 0 0 0 CAROL RAVA VICE PRESIDENT, OPERATIONS & EXTERNA 260000 0 0 0 0 0 10426 0 10954 0 281380 0 0 0 LISA DAGGS VICE PRESIDENT, STRATEGY & ADVANCEME 260000 0 0 0 0 0 5253 0 4078 0 269331 0 0 0 PART I, LINE 3 COMPENSATION FOR THE PRESIDENT IS DETERMINED BY BENCHMARKING WITHIN THE SECTOR - BOTH HIGHER EDUCATION AND NONPROFIT - AND IS BASED ON THE EMPLOYEE'S KNOWLEDGE, SKILLS AND EXPERIENCE. REVIEW OF RELATED ORGANIZATIONS' COMPENSATION AS CAPTURED IN THEIR 990S IS ALSO USED FOR COMPARISON PURPOSES. COMPENSATION FOR THE PRESIDENT IS REVIEWED AND APPROVED BY THE BOARD. FORM 990, PART III, LINE 2 THE POSTSECONDARY COMMISSION FORMALLY BEGAN ITS PROCESS TO BECOME AN ACCREDITOR OF POSTSECONDARY INSTITUTIONS IN JANUARY 2023. PRIOR TO THIS TIME, PSC HAD CONDUCTED RESEARCH AND DUE DILIGENCE ON THE PROCESS UNDER THE NAME COLLEGE101. FORM 990, PART III, LINE 4A IN PSC'S FIRST YEAR (2023) AS AN ACCREDITOR SEEKING FEDERAL RECOGNITION, THE ENTITY ACHIEVED FIVE KEY MILESTONES. 1-SEATING A BOARD OF COMMISSIONERS - TEN BOARD MEMBERS REPRESENTING A VARIETY OF EXPERIENCES NOW FORM PSC'S BOARD OF COMMISSIONERS. THEY ARE ALL INDEPENDENT AND HAVE NO AFFILIATION, PAST OR CURRENT, WITH THE INSTITUTIONS PSC ACCREDITS. 2-PUBLISHING ACCREDITATION MATERIALS (STANDARDS, HANDBOOK, POLICIES) - PSC PUBLISHED DRAFTS OF ITS ACCREDITATION STANDARDS AND RELATED MATERIALS. THIS INCLUDES DETAILS ON HOW PSC MEASURES STUDENT ACHIEVEMENT, REQUIRES TRANSPARENCY OF OUTCOMES, AND HOLDS INSTITUTIONS ACCOUNTABLE FOR RESULTS. 3-SOLICITING PUBLIC FEEDBACK - PSC SOLICITED EXTENSIVE FEEDBACK ON ITS STANDARDS AND ACCREDITATION MODEL AND ESTABLISHED AN ONGOING PROCESS FOR CONTINUING TO RECEIVE SUCH FEEDBACK. 4- SECURING AN INSTITUTION TO ACCREDIT - PSC SECURED AN AGREEMENT WITH TEXAS STATE TECHNICAL COLLEGE THAT THE INSTITUTION WOULD SEEK ACCREDITATION FROM PSC AS PART OF PSC'S REQUIRED PROCESS TO PRACTICE AND APPLY ITS ACCREDITATION MODEL. 5- SHARING PSC'S MODEL AND APPROACH - PSC SPENT CONSIDERABLE TIME SHARING ITS EARLY WORK WITH A VARIETY OF KEY STAKEHOLDERS IN THE HIGHER EDUCATION SECTOR. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD MAY ESTABLISH AND ELECT FROM AMONG THE DIRECTORS SUCH COMMITTEES AS THEY MAY FROM TIME TO TIME DETERMINE NECESSARY OR ADVISABLE, AND MAY DELEGATE TO ANY SUCH COMMITTEE SUCH POWERS AND DUTIES THERETO AS THE BOARD MAY DEEM ADVISABLE, EXCEPT THE FOLLOWING POWERS AND DUTIES AND ANY OTHERS THAT MAY NOT BE DELEGATED UNDER APPLICABLE LAW: (A) CHANGING THE NUMBER OF DIRECTORS; (B) ELECTING OR REMOVING DIRECTORS, OFFICERS OR THE CHAIR OR VICE CHAIR OR FILLING VACANCIES IN ANY OF THOSE POSITIONS; (C) AMENDING THE CORPORATION'S ARTICLES OF ORGANIZATION OR THESE BYLAWS; (D) CHANGING THE CORPORATION'S PRINCIPAL OFFICE; (E) AUTHORIZING A SALE, LEASE, EXCHANGE, OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATION'S ASSETS; (F) AUTHORIZING A MERGER OR CONSOLIDATION OF THE CORPORATION; (G) INITIATING A BANKRUPTCY PROCEEDING; OR (H) AUTHORIZING DISSOLUTION OF THE CORPORATION. THE BOARD MAY ALSO APPOINT PERSONS OTHER THAN DIRECTORS AS NON-VOTING MEMBERS OF SUCH COMMITTEES. THE BOARD MAY ESTABLISH ADVISORY COMMITTEES THAT DO NOT HAVE AUTHORITY TO ACT ON BEHALF OF THE CORPORATION; PERSONS OTHER THAN DIRECTORS MAY BE APPOINTED AS VOTING MEMBERS OF SUCH ADVISORY COMMITTEES. EACH COMMITTEE SHALL KEEP A RECORD OF ITS ACTIONS AND PROCEEDINGS, AND REPORT ITS ACTIONS, IF ANY, TO THE BOARD AT THE NEXT MEETING OF THE BOARD AFTER SUCH ACTIONS ARE TAKEN. AT ANY MEETING OF A COMMITTEE A QUORUM FOR THE TRANSACTION OF ALL BUSINESS PROPERLY BEFORE THE MEETING SHALL CONSIST OF A MAJORITY OF THE ELECTED, VOTING MEMBERS OF SUCH COMMITTEE. EXCEPT AS THE BOARD MAY OTHERWISE DETERMINE, ANY COMMITTEE MAY MAKE RULES FOR THE CONDUCT OF ITS BUSINESS, BUT UNLESS OTHERWISE PROVIDED BY THE BOARD OR BY SUCH RULES, ITS BUSINESS SHALL BE CONDUCTED SO FAR AS POSSIBLE IN THE SAME MANNER AS IS PROVIDED BY THESE BYLAWS FOR THE CONDUCT OF BUSINESS BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 4 IN 2023, COLLEGE101 CHANGED ITS NAME TO THE POSTSECONDARY COMMISSION (PSC) AND FORMALLY LAUNCHED ITS WORK TO BECOME A FEDERALLY RECOGNIZED ACCREDITOR. THIS WORKSTREAM IS AN EXTENSION AND EXPANSION OF COLLEGE101'S PRIOR WORK. AT THE SAME TIME AND TO REFLECT THIS TIGHTENED FOCUS AND ALIGN WITH REGULATORY REQUIREMENTS FOR ACCREDITORS, PSC UPDATED ITS ARTICLES OF INCORPORATION AND BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD WILL HAVE AN OPPORTUNITY TO REVIEW THE DRAFT 990. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS, OFFICERS, EMPLOYEES, AND CONSULTANTS REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY AND DISCLOSURE ON AN ANNUAL BASIS. IF THE COMMISSION DETERMINES THAT A CONFLICT OF INTEREST EXISTS, APPROPRIATE ACTION WILL BE TAKEN TO ADDRESS AND MANAGE THE CONFLICT OF INTEREST. IF THE COMMISSION DETERMINES THE INDIVIDUAL FAILED TO DISCLOSE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE CORRECTIVE OR DISCIPLINARY ACTION, AS OUTLINED IN THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 PSC'S WHISTLEBLOWER POLICY ENCOURAGES EMPLOYEES TO COME FORWARD WITH COMPLAINTS, REPORTS OR INQUIRIES ABOUT ILLEGAL PRACTICES OR IMPROPER CONDUCT BY PSC ITSELF, BY ITS LEADERSHIP, OR BY OTHERS ON ITS BEHALF. THE POLICY PERMITS CONFIDENTIAL AND ANONYMOUS REPORTING AND OUTLINES WHERE AND HOW TO REPORT. THE POLICY ALSO PROTECTS AN INDIVIDUAL FROM RETALIATION FOR REPORTING. ALL EMPLOYEES ARE TRAINED ON THIS POLICY AND ARE PROVIDED ACCESS TO IT IN THE EMPLOYEE HANDBOOK. PSC'S DOCUMENT RETENTION AND DESTRUCTION POLICY PROVIDES GUIDELINES FOR THE RETENTION AND DESTRUCTION OF DOCUMENTS RECEIVED OR CREATED BY PSC. THE POLICY IS DESIGNED TO PROMOTE COMPLIANCE WITH FEDERAL AND STATE LAWS AND REGULATIONS. ALL DOCUMENTS THAT FALL UNDER THIS POLICY ARE SECURELY STORED IN PSC'S CLOUD-BASED FILING SYSTEM. COMPENSATION FOR THE PRESIDENT IS DETERMINED BY BENCHMARKING WITHIN THE SECTOR - BOTH HIGHER EDUCATION AND NONPROFIT - AND IS BASED ON THE EMPLOYEE'S KNOWLEDGE, SKILLS AND EXPERIENCE. REVIEW OF RELATED ORGANIZATIONS' COMPENSATION AS CAPTURED IN THEIR 990S IS ALSO USED FOR COMPARISON PURPOSES. COMPENSATION FOR OTHER KEY EMPLOYEES IS SET BY A COMBINATION OF REVIEW OF SIMILAR ROLES IN SIMILAR MARKETS (USING INDEED, GLASSDOOR, LINKEDIN), AS WELL AS LOOKING AT EMPLOYEES' PRIOR ROLES AND CURRENT MARKET VALUE FOR THEIR TALENT. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 630,456. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 630,456. PAYROLL AND BENEFITS SERVICES: PROGRAM SERVICE EXPENSES 4,147. MANAGEMENT AND GENERAL EXPENSES 1,726. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,873.