Friends of Mcgill University Inc

“A copy of the organizations form 990 was provided to the board of directors via e mail.”

“Any director or officer having an interest in a contract or any other transaction presented to the board for recomendation, authorization, approval or ratifacation shall give prompt, full and frank disclosure of their interest to the board prior to board action on the proposed arrangement. Any person having made a disclosure may make a presentation at a board meeting, but after the presentation, they shall leave the meeting during the discussion of and the vote upon the arrangement involving the potential conflict of interest, and such person may not be counted in determining the existence of a quorum. The board shall thereupon determine, by majority vote, whether the disclosure indicates that a conflict of interest exists or could reasonably be construed to exist. If the board determines that a conflict of interest exists or could reasonably be construed to exist, the board shall investigate alternatives to the proposed arrangement and after exercising due diligence, the board shall determine whether the corporation can obtain with reasonable effort a more advantageous arrangement. After that, due diligence consistent with the quorum requirement in this section, the board shall determine by a majority vote of the disinterested directors whether the arrangement is in the corporations best interest, whether it is fair and reasonable to the corporation, and whether to enter into the arrangement or some other more advantageous arrangement. The minutes of the meeting shall reflect the disclosure made, the vote thereon, the abstention from voting and participation by name, the content of the discussion, and whether the required quorum was present. If the board discovers that an individual appears to have failed to make any mandatory disclosure, the board shall undertake appropriate due diligence investigation and any necessary disciplinary and corrective action. Each director, officer, employee and committee member shall annually sign a statement that affirms that such person has received a copy of the conflicts of interest policy, has read and understands the policy, agrees to comply with the policy, and understands that the corporation is a charitable organization and in order to maintain its federal tax exemption must engage primarily in activities that accomplish one or more of its tax exempt purposes and aviod prohibited private inurement of its assets.”

“Documents are provided to the public upon written request via us mail or e-mail.”

“CANADA”

“Administrative fees 43,033 administrative expenses -43,033”