Museum of Latin American Art

“A committee of the board reviews the return before it is filed. A copy of the return is forwarded to all members of the board prior to filing.”

“Molaa has a conflict of interest policy that covers all officers, directors, and employees (covered persons). All officers, directors, and key employees must complete an annual disclosure statement and disclose any actual or potential conflicts of interest with respect to all business and family relationships. If the board identifies any potential or actual conflict of interest, such persons are prohibited from participating in the governing body's deliberations and decisions in the transaction. The policy defines a "conflict of interest", "business relationship", "entity", "family members", and "financial interest". The procedures outlined in the policy include the following: 1) duty to disclose: all actual and potential conflicts of interest will be disclosed by each board member to the molaa board of directors (the "board"), or whenever an actual or potential conflict of interest arises. The director must notify the board of any changes or additions to the submitted information during the course of the year. Directors are encouraged to disclose a relationship if there is any potential or actual conflict of interest in connection with an applicable proposed transaction or arrangement. Members of molaa's board, committees, and staff will not derive any personal profit or gain, directly or indirectly, by reason of his or her participation at molaa. Each individual will disclose to molaa any personal interest which he or she may have in any matter pending before molaa and will refrain from participation in any decision on such matter. Any member of the museum of latin american art's board, committees, and staff will refrain from obtaining any list of molaa members or sponsors for personal or private solicitation purposes at any time during the term of their affiliation. 2) determining whether a conflict of interest exists: the board will evaluate the submitted annual conflict of interest policies and determine whether the disclosed information raises a conflict of interest. If the board believes that a particular transaction or arrangement may represent a conflict of interest, it may request additional information from those persons detailing the nature of the transaction or arrangement. After disclosure of all material facts, and after any discussion with those persons, the board shall determine whether a particular transaction or arrangement constitutes a conflict of interest without the presence or participation of the affected person. A majority of the disinterested members of the board will decide if a particular relationship or transaction represents a conflict of interest. 3) procedures for addressing the conflict of interest: if the board determines that a particular relationship or transaction represents an actual, apparent, or potential conflict of interest, the board will resolve the matter in one of the following manners: waive the actual, potential, or apparent conflict as unlikely to affect the director's ability to act in the best interests of molaa; determine that the director should be recused from all deliberations and decision-making related to the particular transaction (both at the outset and on an ongoing basis) which gives rise to the actual, potential, or apparent conflict; determine that the director must resign from his/her service to molaa because the actual, potential, or apparent conflict is so pervasive that the director would seldom, if ever, likely be able to act in the best interests of molaa. The molaa board will have final authority over the resolution of all conflict of interest matters. 4) violation of the conflict of interest policy: if the board believes that the director has not disclosed a conflict of interest, it will inform the director of the basis for such belief and ask the director to provide clarification. Violation of this policy may result in discipline and/or corrective action, up to and including termination of employment or separation from applicable board or committee servic”

“Molaa's board of directors has a process for reviewing and approving the compensation of officers and 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 process for determining the compensation paid to the ceo, officers, and key employees includes the approval of the compensation arrangement in advance, by the board of directors, with all persons with a conflict of interest abstaining from the board's deliberation and discussion. The board reviews data of comparable compensation for similarly qualified nonprofit executives at similarly situated entities. 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 comparable data and how it was obtained, and documentation of the basis for its determination.”

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

“Contracted services: program service expenses 205,801. Management and general expenses 402,728. Fundraising expenses 0. Total expenses 608,529. Payroll fees: program service expenses 9,964. Management and general expenses 3,735. Fundraising expenses 1,676. Total expenses 15,375. Professional service fees: program service expenses 0. Management and general expenses 80,550. Fundraising expenses 0. Total expenses 80,550.”