Porch Chapel Hill-Carrboro

“Prior to filing, the form 990 will be reviewed by the executive director, and then distributed to the full board and the finance committee for review.”

“1. Duty to disclose. In connection with any actual or possible conflict of interest,an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with board of directors delegated powers considering the proposed transaction or arrangement. 2. Determining whether a conflict of interest exists. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board of directors or committee meeting while the 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. 3. Procedures for addressing the conflict of interest. A. An interested person may make a presentation at the board of directors or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest .b. The chairperson of the board of directors or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. After exercising due diligence, the board of directors or committee shall determine whether the corporation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. D. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board of directors or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the corporations bestinterest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement. 4. Violations of the conflicts of interest policy. A. If the board of directors or committee has reasonable cause to believe a member or a management employee has failed to disclose actual or possible conflicts of interest, it shall inform the member or management employee ofthe basis for such belief and afford the member or management employee an opportunity to explain the alleged failure to disclose. B. If, after hearing the members or management employees response and after making further investigation as warranted by the circumstances, the board of directors or committee determines the member or management employee has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action. Records of proceedings-the minutes of the board of directors and all committees with board delegated powers shall contain: a. The names of the persons who disclosed or otherwise were found to have a financial interest in connection with an actual or possible conflict of interest,the nature of the financial interest, any action taken to determine whether aconflict of interest was present, and the board of directors or committees decision as to whether a conflict of interest in fact existed. B. The names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion,including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection with the proceedings. Compensation-a. A voting member of the board of directors who receives compensation,directly or indirectly, from the corporation for services is precluded from voting on matters pertaining to that members compensation. B. A voting member of any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly,from the corporation for services is preclude”

“When the executive director was hired, we reviewed compensation paid by other non-profit organizations in our area.”

“The three most recent form 990s (including financial information), the bylaws, articles of incorporation, form 1023 application for exemption, and conflict of interest policy are provided to the public upon request.”

“Adjust for net assets beg balance -23,959”