Serc Foundation

“Vacancies in the board of directors shall be filled by the following: a. Selection of a member of state education resource center's board of directors from that board's program committee or fiscal commitee; b. Nomination from the current directors of the corporation and consequent election of those individuals.”

“A copy of the form is provided to the organization. The organization does not require the entire board to review the return prior to filing. After review, the form 990 is approved for filing.”

“The serc foundation, inc. Has in place a conflict of interest policy which it annually monitors and enforces. The board currently mandates that all officers, directors, and key employees of the foundation annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. The signed conflict of itnerest policy is then submitted to the board who reviews the signed attestations for potential or actual conflicts. If a potential or actual conflict exists, the board will inform the member of the basis of such belief and afford the member an opportunity to respond. The board will disclose the conflict of interest and how the conflict was handled. The member with the actual conflict of interest will be prohibited from voting on the matter that gives rise to the conflict. If it is determined that a member has in fact failed to disclose an actual or possible conflict of interest, the foundation shall take appropriate disciplinary and corrective action, which may include recommending terminating such member's capacity with the foundation.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. In addition, the form 990 is posted on gudiestar.org and other similar types of websites.”

“Professional fees: program service expenses 0. Management and general expenses 42,996. Fundraising expenses 0. Total expenses 42,996.”

“The process has not changed from prior year.”