Indiana World Skating Academy Inc

“The 990 is reviewed by the executive committee before being filed, and then it is provided to the full board within 30 days of filing.”

“An interested board member, officer, or staff member shall not participate in any discussion or debate of the board of directors, or of any committee or subcommittee thereof in which the subject of discussion is a contract, transaction, or situation in which there may be a perceived or actual conflict of interest. However, they may be present to provide clarifying information in such a discussion or debate unless objected to by any present board or committee member. Conflict of interest statements are reviewed by the secretary and reported on at a board meeting.”

“The board of directors of indiana/world skating academy, inc. ("iwsa") has given the executive committee responsibility to establish and monitor changes to the compensation and benefits of the executive director of iwsa, and to provide oversight on the compensation and benefit actions taken by the executive director with respect to his/her direct reports and/or key employees. The role of the executive committee and executive director, as delegated to it by the board of directors, is to ensure that the compensation arrangements of iwsa are structured so that compensation payments to key employees are at all times reasonable for an organization subject to the requirements and constraints of sections 501(c)(3) and 4958 of the irs code of 1986, as amended (the "code"). In order to maintain its independence and objectiveness, membership on the executive committee is limited to directors who are not employees or related to employees of iwsa. No member of the executive committee may be an employee of iwsa, subject to the direction or control of any employee of iwsa, nor receive compensation or other payments subject to the approval of any employee of iwsa (except where approved by the board of directors). Finally, no member of the executive committee may have any material financial interest that would be affected by the compensation arrangement for any key employee of iwsa. The executive committee and executive director generally utilize performance indicators and changes to the consumer price index (cpi) in determining compensation each year and in evaluating prospectively any incentive or contingent compensation plan, and in reviewing retroactively the amounts determined by application of any incentive formula. The purpose of such retroactive review is to ensure that no amount is paid pursuant to any incentive plan or formula that, when aggregated with basic salary and bonus, exceeds reasonable compensation.”

“These items are available upon request.”