Rockport Music Inc

“Senior management and the audit committee receives a completed draft form 990 (without schedules a & b) to review and submits comments and questions to the accountants who prepare the return. Once the questions are adequately answered and are approved by the audit committee, a complete copy of form 990 (without schedule b) is then submitted electronically to members of the organization's governing body for any comments prior to its submission. The governing body is provided with adequate time to review the prepared form 990 and provide comments. Any comments are then provided to the director of finance who groups and summarizes comments and is responsible for filing the return. Any issues are documented and addressed. The return is then finalized and approved for filing.”

“All members of the board of directors and officers are required to disclose any conflicts of interest by completing a questionnaire annually. A copy is provided to the secretary to retain for the organization's records. If a conflict of interest is deemed to exist, it is the duty of the individual to disclose such interest. This interest is to be recorded in the minutes of the meeting of the board and where the conflict concerns any board or committee member, the individual(s) shall not participate in any vote or deliberation on the matter.”

“The executive committee reviews the ceo/president's performance in connection with previously established goals along with accomplishments relative to current salary and market conditions. Based upon this review, the executive committee presents its assessment and recommended compensation adjustments to the board in executive session, for its approval. In addition, the board chair solicits comments on the ceo/presdient's performance from all board members. Based on all of the proceeding feedback, the board chair meets with the ceo/president for formal review, including presentation of salary adjustment. Compensation for employees (director-level and below) is determined based on performance, market rates, and other factors by the ceo/president in conjunction with managers (if applicable).”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code upon request; guidestar.org; mass. Attorney gernal website -http://www.charities.ago.state.ma.us/charities/ and other similar types of websites.”

“The organization did not change either its oversight process of the audit, review, or compilation of its financial statements and the selection of an independent accountant during the tax year.”