Coastal Mountains Land Trust

“Members are those who contribute time as a volunteer or make a cash donation annually.”

“Members elect board members at the annual membership meeting.”

“Members may vote on the removal of directors. Members also have 150 days to comment on any changes to the bylaws or articles of incorporation before they go into effect.”

“An annual audit of the Land Trust will be performed by a Certified Public Accountant, selected by the Finance and Investment Committee, who will also prepare IRS Form 990. Each member of the Board will be provided with a copy of the IRS Form 990, either digitally or printed, for his/her review prior to submission to the Internal Revenue Service. Board members may provide comments or questions to the Treasurer regarding the IRS Form 990 within seven days after their receipt of it. If said comments or questions require revision of the IRS Form 990, the Treasurer will obtain revisions as necessary. Thereafter, the Treasurer (or in his/her absence, another officer of the Board) will sign the final version of the IRS Form 990 and submit it to the Internal Revenue Service.”

“Section 7. Conflicts of interest in the policies of the Board of Directors (available at www.coastalmountains.org, select "Key Documents") describes in detail the Land Trust's attention to potential conflicts of interest. In summary, when a transaction, contract, or project of the Land Trust is considered by the Board and when there is any reason to think that a member of the Board, staff, committees, a major donor, or any other person closely involved with the Land Trust might have the potential of financial advantage from the activity, the Board Member or Executive Director who is aware of that potential conflict brings the situation to the attention of the entire Board for inquiry that the person does have an actual, potential, or perceived conflict of interest, the person is asked to fully disclose that for a recording in the minutes of the Board meeting and to absent him/herself from all discussion, deliberation, and decision concerning the matter.”

“The Board of Directors annually evaluates the performance of the Executive Director and sets his/her compensation, utilizing surveys of compensation of Executive Directors of other nonprofit organizations in Maine as published biennially by the Maine Association of Nonprofits.”

“The organization makes its policies and financial statements available for review on its website.”

“Change in value of split interest agreement 11,587.”

“The audit oversight has not changed from the previous year.”