Arc Mu 7 Inc

“A draft of the form 990 was provided to the organization's management to review. Questions/changes were discussed with holman frenia allison pc, and a revised draft form 990 was provided to the board of directors, which was approved prior to beiing filed with the internal revenue service.”

“Board members and executive staff annually complete a conflict of interest disclosure questionnaire. Other employees annually complete a conflict of interest statement. If a potential conflict is reported by anyone on the board or the executive director, the board of directors determines whether a conflict exists and action required. If a potential conflict is reported by staff (other than the executive director), the executive director determines whether a conflict exists and action is required. The arc's policy requires that a potential conflict of interest be reported at any time that it arises.”

“The personnel committee of the board of directors reviews salary and benefits surveys from comparable organizations to determine compensation for senior management positions. The actions taken by the committee enable the organization to receive the rebuttable presumption of reasonableness for purposes of internal revenue code section 4958 with respect to the total compensation of certain members of the senior management team, including the executive director. The three factors which must be satisfied in order to receive the rebuttable presumption of reasonableness are the following: 1. The compensation arrangement is approved in advance by an "authorized body" of the applicable tax-exempt organization which is composed entirely of individuals who do not have a "conflict of interest" with respect to the compensation arrangement. 2. The authorized body obtained and relied upon "appropriate data as to comparability" prior to making its determination; and 3. The authorized body "adequately documented the basis for its determination" concurrently with making that determination.”

“The organization's governing documents, conflict of interest policy and financial statements are available upon request.”