Nice Ride Minnesota

“The completed 990 will be provided to each director. It will be reviewed at a board meeting. Any questions will be addressed and the board will vote to approve.”

“The organization's conflict of interest policy covers officers, directors, or members of committees with board-delegated powers. Each covered individual is required to annually sign a statement which affirms that they have received and understood the policy, agree to comply with the policy's provisions, and to provide a list of relationships which may give rise to a conflict. In connection with any actual or possible conflicts of interest, an interested person must disclose the existence and nature of his or her financial interest or fiduciary responsibility and all material facts to the directors and members of committees with board-delegated powers considering the proposed transaction or arrangements. After disclosure of the financial interest or fiduciary responsibility and all material facts, and after any discussion with the interested person, if requested, he or she shall leave the board or committee meeting while the final determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists without the interested individual. The minutes of the board and all committees document all proceedings resulting from conflicts of interest.”

“Compensation of the top management official was addressed by the chair of the administrative committee of the board pursuant to the compensation committee charter, including evaluations of salaries at similar organizations. The process and decision were documented. At present, salaries at nice ride are substantially lower than at similar nonprofit entities. This process was last performed in january 2023.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Nice ride minnesota continued to operate throughout 2022 by overseeing operation of the grant-funded bike share equipment by lyft bikes & scooters llp ("lyft") and operation of an e-bike sharing fleet by lyft pursuant to a program agreement. In june 2022, nice ride minnesota published a document seeking proposals from nonprofits with similar missions to acquire nice ride minnesota. In august 2022, we selected a proposal submitted by the great plains institute. Until february 2023, we expected that lyft would continue to operate our equipment at least through the expiration of the program agreement in 2023. In february 2023, it became apparent that lyft would exit the minneapolis micromobility market and would not relaunch the bike share system. At that point, nice ride minnesota notified its public sector partners and began wind-up activities. Our current plan for wind up is to convert all assets to cash, tranfer that cash to the great plains institute under a directed giving agreement, and dissolve.”