K-Love & Air1 Foundation

“Minutes are being taken contemporaneously with the meetings and subsequently reviewed and approved by the board. There are no committees that act on behalf of the governing body.”

“The form 990 is completed by an outside accounting firm. Thereafter, the form 990 is reviewed internally by members of the finance/accounting department and senior management. Once their questions are resolved, the document is distributed to each member of the board of directors for review. When the board of director's review is complete and the final form is approved, the form 990 is filed.”

“All board members and any employees found to have financial decision-making abilities are provided a copy of the policy on conflict of interest and are required to disclose any conflicts. If a conflict is disclosed, the full board, less the conflicted member, will determine the appropriate action to be taken. Additionally, employees, at the time of their employment, are required to sign an acknowledgement of the conflict of interest policy that imposes an on-going obligation to disclose any conflicts that might arise. In the event an employee reports a potential conflict of interest, the potential conflict is raised to the general counsel, and appropriate measures are taken. In the case of an employee with a financial interest in a vendor that does business with the ministry, the transaction is reviewed by disinterested members of executive management, and in appropriate cases competitive bids are obtained to assure that the transaction is fair and equitable. Conflict of interest statements are signed yearly.”

“The consolidated financial statements, conflicts of interest policy, as well as other pertinent documents are available upon request.”