Balboa Park Online Collaborative Inc

“Upon completion of the Form 990 by the independent auditors, the Form 990 is first presented to the Audit Committee for review, comment, and approval. Upon approval from Audit Committee, a representative from the committee will present the Form 990 to the Board of Directors. In each case the Audit Committee and Board of Directors receive the Form 990, in advance of the meeting. The Board of Directors will vote to accept the Form 990 at the meeting, however, if inquiries or changes are necessary, approval of the Form 990 can be done through email. Email approval is also required for Board Members who were unable to attend the meeting.”

“Balboa Park Online Collaborative Inc. (BPOC), maintains a conflict of interest policy with the Board of Directors to protect BPOCs interests when its Board of Directors is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the Corporation. This policy is intended to supplement but not replace any applicable federal or state laws governing conflicts of interest applicable to nonprofit and charitable corporations.Each director, principal officer and member of a committee with board delegated powers shall annually, or upon the time of elected position, sign a statement which affirms that such person:A.has received a copy of the Conflicts of Interest Policy,B.has read and understands the Policy,C.has agreed to comply with the Policy, andD.understands that the Corporation is a charitable organization and that in order to maintain its federal and state tax exemptions it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.In order to assist BPOC in complying with federal and state requirements, including but not limited to those set forth in Internal Revenue Code section 4958, and in the Delaware General Corporation Law, all Board members shall annually (and upon election to the Board) complete a questionnaire. Completion of the questionnaire shall not relieve any Board member of his or her duty to advise the Board of any actual or potential conflict of interest concerning any matter before the Board, as set forth in Article III, Section 1 of the Balboa Park Online Collaborative, Inc. Conflict of Interest Policy.”

“The Director/CEO is subject to a contract of employment with the Corporation and is supervised by, and subject to, the Corporations Board of Directors. The Boards control includes the power to determine and set the Director/CEOs compensation, subject to the express terms and conditions of the current contract of employment. The compensation process is conducted under the control and supervision of the Board Chair and includes an annual review of the Director/CEOs performance in which input from Board Members and other key persons is solicited.The compensation process conducted was based on the review of CEO salaries within Balboa Park, where the corporate offices are located, and competitive CEO or CTO salaries within the regional for-profit technology world. BPOC's Executive Committee, stipulated that the level of compensation could fall within the top three to five salaries within the Balboa Park community, but not be the highest. Additionally, the compensation level had to be competitive for three to five years, since no increase in compensation would be offered during that time.”

“The organization makes its audited financial statements, governing documents and policies available upon request. The organization also uses www.guidestar.org to disclose its Form 990.”

“No documents available to the public.”

“The Finance Committees primary purpose is to monitor the organizations overall financial health by reviewing and evaluating financial reports and internal fiscal policies and recommending the annual budget to the full board. Under the oversight of the Finance Committee, the Director of Finance and Operations prepares a draft of the monthly financial statements for review by the CEO. The monthly financial statements are reviewed with the Board Treasurer and he/she will present the financial statements to the Finance Committee and to the to the Board of Directors. The Finance Committee and the Board of Directors receive a monthly report that includes a detailed income statement, balance sheet, aging accounts payable and aging accounts receivable.The Audit Committees purpose is to oversee the integrity and compliance of the organizations financial statements, accounting and financial reporting processes, and financial statement audits; additionally, oversee the performance of the organizations independent auditor.”