Mankato Symphony Orchestra Inc

“There are no committees with authority to act on behalf of the governing body.”

“The form 990 is presented to the governing body during a meeting. After reviewing the document, the board passes or rejects a motion to accept the form 990 prior to filing.”

“The organization monitors compliance with the conflict of interest policy on an on-going basis, and the policy covers all board members. In the case of an actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After this disclosure, he/she leaves the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon to decide if a conflict of interest exists. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action. The minutes of the governing board and all committees with board delegated powers shall contain the names of the persons considered to have conflicts of interest as described above, actions taken to determine existence of conflicts of interest, the governing board's or committee's decisions (and records of any votes taken), any disciplinary or corrective actions determined, and the names of the persons who were present for discussions and votes relating to the transactions or arrangementsent, contents of discussions, and any alternatives to the proposed transactions or arrangements.”

“The compensation for the executive director is determined by the board of directors. It is reviewed on an annual basis (with a midterm and final report) by a committee of three board members, who bring their review to the full board to examine and comment upon. Compensation is determined by review of similar organizations in similar markets with quantitative data. This process is documented in the board minutes by the chair of the committee. The process described here was last completed in 2025.”

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

“Professional fees: program service expenses 151,762. Management and general expenses 0. Fundraising expenses 0. Total expenses 151,762.”