Economic Development Alliance of Southern Ohio Inc

“The organization adopted a form 990 distribution policy. The board members will receive the form 990 by email. The board will discuss, amend, or approve filing of the return at its next monthly meeting.”

“All officers, committee members and key employees are required to submit an annual disclosure of interests that could give rise to conflicts. After disclosure of the financial interest and all material facts, the person with the conflict of interest is excluded from the discussion and approval of such transaction. The remaining committee members shall decide if a conflict of interest exists after exercising due diligence and investigation.”

“The committee of the board utilizes the following process for approving compensation: the compensation arrangement must be approved in advance (before any payment is made) by the committee of the board composed entirely of individuals who do not have a conflict of interest with respect to the compensation arrangement. Neither the covered individual whose compensation is being determined nor any of his/her family members may be present during the discussion/debate or participate in the vote. When the committee of the board is considering compensation to covered individuals, it must rely on comparability data that demonstrate the fair market value of the compensation in question. When crafting compensation packages, the committee of the board secures data that documents compensation levels for similarly qualified individuals in like positions with similar organizations. The committee of the board documents how it reached its decisions with written records.”

“All governing documents and financial information are available at its office. An appointment to view the financial statements, 990, and conflict of interest policy can be made two business days in advance.”