Twin Cities Diversity in Practice C/O Gray Plant Mooty

“The executive committee is composed of either a chair or co-chair, treasurer, secretary, and a member at large. The executive committee meets monthly and makes decisions on day to day functions that do not need board approval.”

“The organization's public accounting firm prepares the form 990 based on the information provided by members of the finance team. Once the return is prepared, it is sent to the board for their review and acceptance.”

“Any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest is covered. 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 directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, the interested person shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. There is no defined level to determined existence of conflict. If the governing board or committee has reasonable cause to believe an officer or director has failed to disclose actual or possible conflicts of interest, it shall inform the officer or director of the basis for such belief and afford the officer or director an opportunity to explain the alleged failure to disclose. Results following conflict of interest are documented among minutes of governing board. All committees with board delegated powers shall contain the names of the persons who disclosed or otherwise were found to have a financial interest in connection with an actual or possible conflict of interest. In addition, the names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection with the proceedings requires disclosure.”

“The governing documents and financial statements of the organization are available to the public upon written request of the executive director at the hosting headquarters.”

“The board of directors assumes responsibility for the review. This process has not changed from prior years.”