Southeast Technical Institute Foundation

“The executive committee consists of the four principal officers of the foundation board, the immediate past chair, and up to three additional directors appointed by the chair, to serve in such capacity until the next annual meeting of the board of directors. When such action is taken, the appointment of additional directors must be approved by a majority of all the directors in office when such action is taken. The chair of the board of directors shall serve as chair of the executive committee, and shall preside at all of its meetings. Except to the extent prohibited or limited by these bylaws or by resolution of the board of directors, the executive committee may exercise the authority of the board of directors at such times as the board is not in session.”

“The form 990 will be provided to the board members upon completion at the next scheduled board meeting. It is reviewed by the accounting manager and the treasurer of the organization prior to filing.”

“The conflict of interest policy covers board members, officers, and members of a committee with governing board delegated powers. A request is made annually for all board members to disclose any potential conflict of interest. The president of southeast technical institute and the board make a determination of whether there is a conflict of interest and if so, implements the procedure for evaluating the issue or transaction involved. The board member, officer, or committee member with the conflict must refrain from voting.”

“The foundation director is compensated through the sioux falls, sd school district. The compensation was set by that organization based on salary research of other comparable positions.”

“Currently, the governing documents are not made available to the public; however, information on the conflict of interest policy and financial information is included on the form 990.”