Scituate Library Foundation Inc

“The Organization informally monitors and enforces compliance with its conflict of interest policy by requiring voluntary disclosure of potential conflicts, review of such disclosures and recusal by conflicted individuals when warranted. On an annual basis, the Organization seeks to ensure compliance with its conflict of interest policy by sending relevant written policies to senior members of management and the Board of Directors. Prospectively, the Organization will implement a policy whereby a statement must be completed, signed and returned to the Organizations Clerk which will require each individual to confirm that he or she has i received a copy of the policy ii read and understood the policy and iii agrees to comply with the policy. Each individual will also be asked to disclose any potential conflict of interest that he or she or a member of his of her family, or an entity in which any of them have a material ownership interest, may have. When potential conflicts arise, they will be evaluated by the Board of Directors with the assistance of outside legal counsel, if necessary. Actual conflicts of interest will be resolved in consultation with the Organizations President for staff member conflicts and the Chairperson of the Board for director and officer conflicts. If a conflict exists, the individual is prohibited from participating in the Boards deliberations and decision regarding the transaction.”

“The Organization does not pay any Director or Officer compensation. All Directors and Officers are volunteers and each serves without compensation. If compensation was to be paid, the organization through the efforts of the Officers, Directors, outside legal counsel and the independent accounting firm of the Organization would ensure that they obtain comparative data for compensation paid for similar positions in the United States and for similar organizations with such information containing a minimum of four to five yeas of compensation history. The Board of Directors will vote to approve all compensation packages with the effected Officer in abstentia during the vote and discussions.”

“All documents required by law to be made available to the public are available on written request or are available online from the Massachusetts Attorney Generals Office Division of Public Charities.”

“All of the Officers and Directors of the Organization are volunteers and each serves without compensation.”

“The Organizations Form 990, including required schedules and supporting documentation, is initially prepared and compiled by the Organizations outside accountant and tax advisor. The Form 990 is subsequently reviewed by the Organizations senior management, including the Organizations President, Treasurer and Clerk and questions are relayed to the outside accountant and tax advisor by the Organizations Treasurer on behalf of senior management. A complete copy of the Form 990 is provided to each member of the Board of Directors prior to filing. The Organizations outside accountant and tax preparer files the Form 990 electronically with the Internal Revenue Service.”

“During 2024, the Organization reported realized appreciation due to market conditions on investment assets in the amount of 53,998.87.”