Faculty-Student Association of the State

“The 990 is presented in draft form to the members of the governing body after it has been reviewed by the organization's fiscal personnel. Each member has the opportunity to review the return and suggest any changes prior to filing with the internal revenue service.”

“Each director, officer and at the request of the board of directors, each key employee, upon their initial election and annually thereafter will complete, sign and submit to the secretary of the corporation a written statement identifying, to the best of his or her knowledge, any entity of which such director is an officer, director, trustee, member, owner (either as a sole proprietor or a partner), or employee and with which the corporation has a relationship, and any transaction in which the corporation is a participant and in which the director might have a conflict of interest. The secretary of the corporation shall provide a copy of all completed statements to the chair of the deciding body. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the deciding body. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he or she will leave the deciding body's meeting while the determination of a conflict of interest is discussed and voted upon. The deciding body members will decide if a conflict of interest exists. The deciding body will determine by a majority vote of the disinterested directors whether the transaction or arrangement is fair, reasonable and in the corporation's best interest. In conformity with the above determination, it will make its decision as to whether to enter into the transaction or arrangement. With respect to any related party transaction in which a related party has a substantial financial interest, the deciding body shall: (i) prior to entering into the transaction, consider alternative transactions to the extent available; (ii) approve the transaction by not less than a majority vote of the directors or committee members present at the meeting; and (iii) contemporaneously document in writing the basis for the deciding body's approval, including its consideration of any alternative transactions. The interested person with the conflict of interest is prohibited from making any attempt to influence improperly the deliberation or voting on the matter giving rise to the conflict of interest.”

“On an annual basis, the university president or his or her designee, in consultation with the board, will evaluate the performance of the executive director and will determine any changes in the compensation or other terms and conditions of the executive director's employment.”

“The organization makes its form 1023 and form 990 available to the public upon request over the phone, in writing, and via email. The organization's governing documents, conflict of interest policy, and financial statements are not available to the public.”