Paul Carlson Medical Program Inc

“Members of the Executive Committee are appointed annually by the Board of Directors. The Executive Committee has the power to transact all regular business not requiring the approval of the full Board of Directors during the interim between the meetings of the Board of Directors provided that any action which it may take shall not conflict with the policies of the Board of Directors.”

“The organization's sole member is the Evangelical Covenant Church.”

“The sole member has the power to elect or appoint all members of the governing body.”

“The following actions require the approval of the sole member: (a) Election and removal of the Board of Directors (b) Appointment of the President and Chief Executive Officer of the Program; (c) Approval of strategic plan, mission statement and major changes of policy of the Program; (d) Approval of major borrowing; (e) Approval of the disposition, buying, leasing, selling or encumbering of real property used in ministry belonging to the Program; (f) Approval of mergers or dissolution of the Program and approval of creation of new affiliates and subsidiaries; (g) Amendments to the Articles of Incorporation and Bylaws of the Program; (h) Approval of the fiscal year end of the Program (i) Designation of auditors and determination and direction of legal representation of the Program”

“Form 990 was prepared by an independent CPA firm, reviewed in detail by the finance team, and then provided to and approved by the board of directors before filing.”

“An annual conflict of interest questionnaire is completed by all officers and board members. The questionnaires are reviewed by the board each year. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any decision with regard to matters affected by the relationship.”

“The Executive Director's compensation was determined by independent board members. Comparability data was used and the process was documented in the board minutes. Form 990, Part VI, Line 15b: The organization does not compensate any other officers or key employees. Therefore, this question was answered no in accordance with the instructions.”

“The organization's governing documents, financial statements and conflict of interest policy are available upon request.”

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 01/31/2019. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions: $1,571,815 Line 29 - Net assets with donor restrictions: $54,377 Total net assets: $1,626,191”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed since the prior year.”