The Literacy Council

“The 990 is provided to the finance committee who then recommends acceptance to the full board of directors. Vote to approve follows.”

“A fiduciary duty exists between the literacy council and its board, officers, management, employees, and the public which carries with it a broad and unbending duty of loyalty and fidelity. The board, officers, management, and employees have the responsibility of administering the affairs of the literacy council honestly and prudently, and of exercising their best care, skill, and judgement for the sole benefit of the literacy council. Those persons shall exercise the utmost good faith in all transactions involved in their duties and they shall not use their positions with the literacy council or knowledge gained there for their personal benefit. The interest of the organization must be the first priority in all decisions and actions. Transactions with parties with whom a conflicting interest exists shall fully disclose the situation to the organization's executive director (or if she/he is the one with the conflict then to the president of the board) who shall bring the matter to the attention of the board or a duly constituted committee thereof. Disclosure involving board members should be made ot the board president, or if she/he is the one with the conlifct then to the vice president of the board who shall bring these matters to the board or a dult constituted committee thereof. The board or duly constituted committee thereof shall determine whether a conflict exists, and in the case of an exisitng conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to the literacy council. The decision of the board or duly authorized committee thereof on these matters will rest in their sole discretion and their concern must be the welfare of the literacy council and the advancement of its purpose. All board members and employees are required to complete and sign a disclosure statement certifying they understand and will comply with the policy set forth.”

“The executive committee evaluates the performance and determines the compensation of the chief executive officer yearly by looking at comparables. Compensation and pay is within the limits established by the board of directors. Salary levels are reviewed by the board of directors annually or as deemed necessary. Eligibility for future pay adjustments is based upon on-the-job performance and the pay limits established for the position.”

“Salary levels are reviewed by the board of directors annually or as deemed necessary. Eligibility for future pay adjustments is based upon on-the-job performance and the pay limits established for the position.”

“Copies of the governing documents, conflict of interest policy, financial statements, 990 tax returns, and application for tax exemption are provided upon request during normal business hours at the organization's location, as well as posted on the guidestar website.”

“Other increase in net assets 972”