Opera House Arts

“The producing executive director and the treasurer review the form 990. The board reviews and adopts the completed 990 prior to its public release.”

“A conflict of interest policy is signed by each board member and officer annually. A conflict of interest transaction must be approved before consummation of the transaction as follows. The board of directors of the corporation may authorize, approve or ratify the transaction if the material facts of the transaction and the director's or officer's interest are disclosed or known to the board. The transaction may be approved only if it is fair and equitable to the corporation as of the date the transaction is authorized, approved or ratified. The party asserting fairness of any such transaction has the burden of establishing fairness. For purposes of this section, a conflict of interest transaction is approved if it receives an affirmative vote of a majority of the directors who have no direct or indirect interest in the transaction, but a transaction may not be approved by a single director. If a majority of the directors on the board who have no direct or indirect interest in the transaction vote to approve the transaction, a quorum is present for the purpose of taking action. Directors may recuse themselves from discussions and/or votes in which they perceive themselves as having a direct or indirect interest.”

“As provided in the employment agreement between opera house arts and the producing executive director, the process of determining compensation for the producing executive director includes review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision.”

“Opera house art's form 990 is made widely available via the guidestar website.”

“Governing documents, policies and financial statements are made available upon request.”

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