Rotary 5950 Foundation

“Current presidents of rotary district 5950 clubs are voting members of this organization.”

“Current presidents of rotary district 5950 clubs annually elect members to the board of rotary 5950 foundation.”

“No committees have authority to act on behalf of the board.”

“The form 990 is prepared by the organizations public accounting firm. Once a draft is available, it is provided to the board of directors for review, comments and corrections prior to filing.”

“Conflict of interest policy was adopted in october 2014. Each board member is required to affirm annually that they have reviewed and are in compliance with the policy. The policy is as follows: 1. Purpose the purpose of the conflicts of interest policy is to ensure that the deliberations and decisions of the foundation are made in the best interests of the foundation and those individuals it serves, and to protect the interests of the foundation when it is contemplating entering into a transaction, contract, or arrangement that might benefit the private interest of an interested director, officer or person (as defined below). An interested director, officer or person may not use his or her position with respect to the foundation, or confidential corporate information obtained by him or her relating to the foundation, in order to achieve a financial benefit for himself or herself or for a third person, including another nonprofit or charitable organization. This policy is intended to supplement but not replace any applicable laws governing conflicts of interest in nonprofit and charitable foundations. 2. Definitions 2.1 compensation. "compensation" includes direct and indirect remuneration as well as gifts or favors that are substantial in nature. 2.2 family. The "family" of any individual shall include only his or her spouse; his or her siblings and their spouses; his or her ancestors; and his or her descendants and their spouses. 2.3 financial interest. A person has a "financial interest" if the person has, directly or indirectly, through business, investment or family: (a) an existing or potential ownership or investment interest in any entity with which the foundation has a transaction, contract, or other arrangement, or (b) a compensation arrangement with the foundation or with any entity or individual with which the foundation has a transaction, contract, or other arrangement, or (c) an existing or potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the foundation is negotiating a transaction, contract, or other arrangement, or (d) an existing or potential ownership or investment interest in, or compensation arrangement with, any entity whose business or operation has been or will be directly affected by a decision or action of the foundation. 2.4 interested director. "interested director" shall mean any director of the foundation who has a material financial interest, as defined above, or who serves as a director or officer of any entity with which the foundation has a transaction, contract, or other arrangement. 2.5 interested officer. "interested officer" shall mean any officer who has a material financial interest, as defined above, or who serves as a director or officer of any entity with which the foundation has a transaction, contract, or other arrangement. For purposes of this policy, the president of the foundation shall be treated as an officer. 2.6 interested person. "interested person" shall mean either: (a) any person currently being compensated by the foundation for services rendered to it within the previous 12 months, whether as a full- or part-time employee, independent contractor, or otherwise, or (b) any person whose family member, as defined in section 2.2, is currently being compensated by the foundation for services rendered to it within the previous 12 months, whether as a full- or part-time employee, independent contractor, or otherwise. 2.7 foundation: rotary 5950 foundation 3. Committee on conflicts of interest 3.1 to administer and monitor compliance with this policy, the board shall create a committee of the board on conflicts of interest ("conflicts committee"), consisting of two non-officers of the board. 3.2 the conflicts committee shall require a statement from each director and officer not less frequently than once a year setting forth all business and other affiliations which relate in any way to the business and other acti”

“Documents related to the governance of the entity and copies of form 990 are provided upon written request.”