The Bennett Public Library Association of Billerica

“The organization holds an endowment that is managed by enterprise investment advisors located in lowell, ma 01852 with general oversite by the executives of the board. General objectives and risk tollerance are determined by the board members, but the active management of the assets; including execution of trades and asset allocations are conducted by the asset managers at enterprise investment advisors.”

“The draft version of the form 990 is reviewed and approved by the officers of the board and then forwarded to the full board of trustees for review. After the full board approval the form 990 is signed and filed with the irs.”

“Each member of the board is required to complete an annual questionaire addressing relationships or other potential areas of conflict of interest in terms of goods or services. Such questionnaires are collected and monitored initially by the president. Issues deemed in potential conflict are referred to and addressed by a committee of the board for further clarification and resolution. If a possible conflict is identified and referred to the board, procedures outlined in the organization's conflict of interest policy are used to determine whether an actual conflict exists. Such procedures include a review of all of the facts and circumstances. The availability of alternate service providers, and the economic impact on the organization and the organization's mission. Final resolution of a conflict is documented in the minutes of the board meetings.”

“The organization does not compensate any of its members, officers or board members.”

“The library's form 990 (current and prior three years) are available on the official website of the attorney general of massachusetts at www.charities.ago.state.ma.us and guidestar at www2.guidestar.org. We also make our form 990, form 1023, articles of incorporation, and bylaws available to the public upon request. We do not make our conflict of interest policy available to the public. In addition, other governing documents are available at the official website of the secretary of state of massachusetts at: www.corp.sec.state.ma.us/corp/corpsearch/corpsearchinput.asp”

“The library's form 990 (current and prior three years) are available on the official website of the attorney general of massachusetts at www.charities.ago.state.ma.us and guidestar at www2.guidestar.org. We also make our form 990, form 1023, articles of incorporation, and bylaws available to the public upon request. We do not make our conflict of interest policy available to the public.”

“Transfer from trust fund 5,100.”