Minnesota High Technology Foundation Inc

“The board of directors may, by resolution adopted by two-thirds (2/3) of the total number of directors, establish an executive committee of the board of directors of the foundation and appoint the chair, vice chair, president, and chair of the finance committee to serve on the executive committee. When a member of the executive committee ceases to be a director of the foundation, such person automatically shall cease to be a member of the executive committee of the foundation. Except for the power to amend the articles of incorporation and the bylaws of the foundation, which power is expressly reserved solely to the board of directors of the foundation as hereinafter provided, the executive committee shall have all of the powers and authority of the board of directors of the foundation in the management of the property, business, and affairs of the foundation in the intervals between meetings of the board of directors, subject always to the direction and”

“The form 990 is reviewed by the full board of directors prior to filing.”

“The foundation's conflict of interest policy, as written in the organization's bylaws, is consistently monitored and enforced through an annual questionnaire in which officers, directors or members of a committee board agree to disclose any existing or potential conflicts of interest. A contract where there is a potential conflict may be approved if the following procedures are observed: the material facts as to the contract or transaction and as to the director's interest are fully disclosed or known to the members and the contract or transaction is approved in good faith by two-thirds of the members entitled to vote, not counting any vote that the interested director might otherwise have, or the unanimous affirmative vote of all members, whether or not entitled to vote; the material facts as to the contract or transaction and as to the director's interest are fully disclosed or known to the board or a committee, and the board or committee authorizes, approves, or ratifies the contract or transaction in good faith by a majority of the board or committee, not counting any vote that the interested director might otherwise have, and not counting the director in determining the presence of a quorum. All proceedings related to conflicts of interest are documented in the meeting minutes.”

“The foundation does not compensate its officers or members.”

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

“No changes in the process from the prior year.”