Discovery Science Center of Orange

“Dscoc's tax returns are reviewed by the cfo prior to filing. The form 990 is made available to dscoc's board of directors and audit committee for their review prior to filing if requested.”

“Discovery science center (dsc) conflict of interest policy purpose the purpose of the conflict of interest policy is to protect the discovery science center's (dsc) interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or a member of the board of directors (board) of dsc or might result in a possible excess benefit transaction. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations. Definitions 1. Interested person any director, principal officer, or member of a committee with board delegated powers, who has a direct or indirect financial interest, as defined below, is an interested person. Note: section 5.02(c) of the dsc by-laws limits the number of board members who are interested persons to be no more than 10% of the total dsc board membership. 2. Financial interest a person has a financial interest if the person has, directly or indirectly, through business, investment, or family: an ownership or investment interest in any entity with which dsc has entered into a transaction or arrangement, a compensation arrangement with dsc or with any entity or individual with which dsc has entered into a transaction or arrangement, or a potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which dsc is negotiating a transaction or arrangement. Compensation includes direct and indirect remuneration as well as gifts or favors that are in excess of $10,000 per year. Does a financial interest by an interested person automatically constitute a conflict of interest? No, a financial interest is not necessarily a conflict of interest. A person who has a financial interest may have a conflict of interest only if dsc's audit committee decides that a conflict of interest exists. The following activities are defined by dsc to be potential conflicts of interest, but that conflicts of interest are not limited to the following situations: where a director makes a decision or does an act motivated by other or additional considerations than "the best interests of dsc; where a director personally contracts with dsc or where he/she is an owner or director of an entity which is contracting with dsc; where a director learns of an opportunity for profit through his involvement with dsc, which may be valuable to him/her personally or to another organization of which he/she is a member, or to other persons known to the director; where a director, in any circumstance as related to the organization, puts his/her personal interests ahead of the best interests of dsc; where a voting member of the governing board who receives compensation, directly or indirectly, from dsc for services votes on matters pertaining to that member's compensation; where a voting member of any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from dsc for services votes on matters pertaining to that member's compensation; or where any voting member of the board or any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from dsc, either individually or collectively, provides information to any committee regarding compensation. Section 5.02(c) of the dsc by-laws requires that any interested person who receives more than $10,000 from dsc (ether pursuant to a contractual relationship or in the form of compensation) shall require the approval of the executive committee of the board. However, any violation of the provisions of this paragraph shall not affect the validity or the enforceability of any transaction entered into by the corporation. A director may not participate in any vote on any proposed transaction with another organization or entity of which such director is also an employee, principal or director. Pro”

“Compensation for the ceo, cfo and chief of staff is determined by an executive committee comprised of board members. The executive committee meets annually to review compensation of the ceo, cfo and chief of staff. The executive committee uses comparability data in determining compensation as well as taking into consideration the financial and operating performance of the organization. The compensation for other officers and key employees is determined by the ceo, cfo and chief of staff. The ceo, cfo and chief of staff meet annually to determine compensation of other officers and employees in a manner similar to that of the executive committee discussed above.”

“Dsc makes its governing documents, conflict of interest policy, and financial statements available to the public in the same fashion as it makes its form 990 available to the public, upon request.”

“The audit oversight process has not changed since the prior year.”