Bay Area Stormwater Management Agencies Association

“Members may elect one or more members of the governing body, but basmaa is not considered a membership organization.”

“The organization has members, stockholders, or other persons who may elect one or more members of the governing body. All regular members shall have the right to vote, as set forth in basmaa's bylaws, on the election of directors during the annual meeting, directors shall be elected or the result of the election presented if written ballot elections are held by mail or email in advance of this meeting and other proper business may be transacted.”

“The form 990 is reviewed by basmaa's governing body during the finance committee meeting and the board of directors meetings.”

“All members of the board must annually provide a disclosure regarding any conflict of interest, additionally, any member of the board must obtain the full board's approval before entering into a new material financial transaction that is reasonably forseeable as posing a conflict to basmaa. Board approval may be granted if a majority of the members conclude: 1. The proposed transaction is for the corporation's own benefit, 2. The proposed transaction is fair and reasonable to basmaa, and 3. Basmaa cannot obtain in a more advantageous arrangement with reasonable efforts under the circumstances. Any board member is disqualified if a transaction or relationship prevents the member from applying disinterested skill and undivided loyalty to basmaa.”

“Independent board members determine the compensation for the executive director, based on comparable community positions.”

“Governing documents, conflict of interest policy, and financial statements are made available for public inspection upon written request. Prior year information returns (form 990) are available for public inspection on the guidestar website located at www.guidestar.org”

“Contractor and professional fees: program service expenses 37,195. Management and general expenses 0. Fundraising expenses 0. Total expenses 37,195.”

“Dissolution of net assets -88,036.”