Oceana Advocacy Resources Inc

“Information for the federal form 990 comes largely from oar's independently audited financial statements, which consolidates oar's activities. The accounting department collects this and other information needed for the federal form 990, which is reviewed and presented in draft form by a tax accounting firm. After approval by senior management, the final draft of the 990 is presented to the board for review before it is submitted to the internal revenue service.”

“Every year, oar's officers and directors fill out a disclosure report asking them to disclose any family or business relationships they may have with other oar officers, directors, or key employees, as well as any financial conflicts of interest they may have. In addition, oar's conflict of interest policy requires any director or officer who is an interested person with respect to a transaction or arrangement under consideration by the corporation to promptly disclose to the board of directors or the board's designate the existence and nature of his or her financial interest in the transaction or arrangement. If oar is considering entering into a transaction or arrangement in which an interested person has a financial interest, the board of directors appoints a committee or subcommittee to review the transaction or arrangement. No interested person with respect to the transaction or arrangement under review will be a member of this committee or subcommittee or otherwise participate in its deliberations, except to furnish such factual information as the committee may request. If the committee finds that an interested person has a conflict of interest with respect to a proposed transaction or arrangement, the committee will obtain reliable information about the terms of comparable transactions or arrangements that are reasonably available to the corporation from unrelated parties free of any conflicts of interest. After reviewing this comparability information, the committee will determine by majority vote whether the proposed transaction or arrangement is fair and reasonable to the corporation and whether it would be in the corporation's best interest to enter into it on the terms proposed. If the board of directors learns that a director or officer has failed to disclose a financial interest as required by this policy, it will inform the individual and afford an opportunity for the individual to explain the alleged failure to disclose. After hearing the individual's response, the board will take appropriate action if any action is needed.”

“Oar publicly discloses it's 990, and the combined audited statements with oceana are readily distributed.”