Salem Main Street Initiative

“The form 990 will be reviewed by the treasurer and executive director and a report issued to the board of directors prior to filing the tax return.”

“From time to time it may occur, in the course of carrying out board responsibilities, that a particular member may be perceived to benefit from an action or decision of the board. A situation of this kind presents a potential conflict between the board members'own financial or personal interests and his/her duty as a board member of absolute loyalty to salem main streets initiative downtown program, inc. This potential conflict may also look questionable to the public. Because of these problems(investments strategies, repair and maintenance contracts, etc.) a board member shall be cautious about entering into a business relationship with the salem main streets initiative downtown program, inc. The board itself shall be no less cautious about allowing salem main streets initiative downtown program, inc. To enter into such a relationship. Such a transaction shall not occur unless the board determines beforehand that it is clearly in the best interests of salem main streets initiative downtown program, inc. Prior to board votes, board members shall fully disclose any financial or personal interest to the entire board. Further, board members shall not vote on any aspect of the arrangement or be present when matters are being discussed and voted upon which board members have personal or financial interest.”

“The organization has available at its office the articles of organization, board of directors minutes and tax returns available to the public.”

“Prior year adjustments 4,498.”