Commonwealth Cares Fund Inc

“Each of the individuals serving as a member of the board of directors are members.”

“The form 990 is reviewed by the treasurer and provided to each board member.”

“The board reviews any potential conflicts of interest at the board meetings. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations. 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 governing board delegated powers considering the proposed transaction or arrangement. 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 governing board 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. Procedures for addressing the conflict of interest: a) an interested person may make a presentation at the governing board 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 governing board 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 governing board or committee shall determine whether the organization 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 isn't reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization best interest, 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. Each director, principal officer, and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a) has received a copy of the conflict of interest policy, b) has read and understands the policy, c) has agreed to comply with the policy, and d) understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities that accomplish one or more of its tax-exempt purposes.”

“Not applicable. No compensation provided. All volunteer.”

“The organization makes its form 990 and form 1023 available for public inspection as required under section 6104 of the internal revenue code upon request and on our wesbite.”

“Financial statements, form 990, conflict of interest policy, governance policies and procedures and other appropriate governing documents are available to the public upon request for the same period of disclosure as set forth in section 6104(d).”

“The organization did not change either its oversight process of the audit, review, or compilation of its financial statements or selection process for an independent accountant during the tax year.”