Sanford Lake Preservation Association

“The 990 will be reviewed by the president prior to filing the informational return.”

“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 which accomplish one or more of its tax-exempt purposes. To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax- exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: a. Whether compensation arrangements and benefits are reasonable, based on competent survey information and the result of arm's length bargaining. B. Whether partnerships, joint ventures, and arrangements with management organizations conform to the organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurnment, impermissible private benefit or in an excess benefit transaction.”

“Pay is discussed in performance reviews with the employee and following those discussions the supervisor provides a recommendation to the governance committee for adjusted annual compensation. The governance committee then makes the determination of where compensation is set based on the recommendations received.”

“Documents are available to the public upon request.”

“Maintaining the inland lake water levels and dams of sanford, wixom, smallwood, and secord lakes (the four lakes), to preserve the environment, promote the welfare and safety of the public, enhance the recreational and health benefits arising from the four lakes, and conduct all activities incidental or necessary to accomplishing the foregoing purposes.”