Grand Traverse Industries Inc

“The full board reviews and approves form 990 with an email vote including unanimous audit committee approval prior to e-filing. This is per board policy.”

“An intersted person may make a presentation at the board or committee meeting but after such presentation they shall leave the meeting during the discussion of and the vote on the transaction or arrangement that results in the conflict of interest. The chairperson of the board or committee may appoint a disinterested person to investigate possible alternatives. After exercising due diligence the board or committee will determine whether the organization can obtain a more advantageous transaction that would not give rise to a conflict of interst. If a more advantageous transaction is not reasonabley attainable the board or committee shall determine by majority vote of disinterested directors whether or not the transaction should be entered into.”

“Grand traverse industries board of directors adopts the philosophy of maitaining compensation practices for the executive director and other key employee positions shall first and foremost be in keeping with state and local norms. The decision for which shall be the exclusive right of the independent board of directors. The philospophy includes consideration of the following: 1. Irs intermediate sanctions per internal revenue code section 4958 2. Reasonable comparability with similar organizations considering market conditions 3. The job decription and actual work performed 4. Performance experience and tenure and 5. Availability of funds.”

“Annual report is sent to public funding bodies upon request.”

“Yearly the audited reviewed financial statements are distributed to persons of interest and may be viewed by the public at any time. The conflict of interest policy and governing documents are also available for review upon request.”

“Process is consistent with prior year.”