Asian Youth Center

“Two of the board members are cousins.”

“Asian youth center's outside cpa firm and their accounting staff prepare the form 990. The form is then reviewed and approved by the organization's executive director. The form is provided to and reviewed with the entire governing body prior to filing with the irs.”

“All officers, directors, and key employees are covered persons under the organization's conflict of interest policy. The conflict of interest policy assists directors, officers and key employees of asian youth center (ayc) to identify situations that present potential conflicts of interest and provides ayc with a procedure that, if followed, allows a transaction to be treated as valid and binding, even if a director, officer or key employee has or may have a conflict of interest regarding the transaction. A person who has a conflict of interest does not participate in nor is permitted to hear the board's discussion of the matter except to disclose material facts and to respond to questions. Such person may not attempt to exert his or her personal influence with respect to the matter, either at or outside the meeting. Covered persons who are not members of the board of directors of ayc, or who have a conflict of interest regarding a contract or transaction that is not the subject to board or committee action, disclose any conflict of interest to the chair or the chair's designee. This disclosure is made as soon as the covered person becomes aware of the conflict. The covered person refrains from any action that may affect ayc's participation in the contract or transaction. If it is not entirely clear that a conflict of interest exists, the individual with the potential conflict discloses the circumstances to the chair or the chair's designee, who determines whether a conflict of interest exists that is subject to the policy. Each covered person annually completes a disclosure form identifying any relationships, positions or circumstances in which they are involved that they believe could contribute to a conflict of interest. These relationships, positions, or circumstances may include serving as a director of or consultant to a nonprofit organization, or owning a business that might provide goods or services to ayc. Any such information regarding the business interests of a covered person or a family member is treated as confidential and is generally made available to the chair, the executive director, and any committee appointed to address conflicts of interest, except when additional disclosure is necessary in connection with the implementation of the policy. Each member of the board of directors reviews the policy annually. Any changes to the policy are communicated immediately to all covered persons.”

“The board of directors has a policy for reviewing and approving the compensation packages of the executive officer and other key employees on a regular basis to determine it is fair and reasonable with the goal of retaining employees at compensation levels within appropriate market range. The policy provides that the review and approval of the compensation arrangement will be conducted, in advance, by independent and impartial members of the board (or a committee of the board). The board reviews comparability data such as compensation paid by similarly situated nonprofit and for-profit organizations for comparable positions in the same geographic area. The board may also review current compensation surveys compiled by independent firms and consider recent written offers from similar organizations competing for the covered individual's services. The documentation of the board includes the terms of the transaction and the date of approval, the members who were present during the debate and vote on the transaction, a description of the comparability data and how it was obtained and relied upon including the recommendations received from third-party consultants, and documentation of the basis for the determination.”

“Governing documents, the conflict-of-interest policy, and financial statements are available to the public upon request. However, current tax law does not require these documents be provided to the public.”