MID-Continent Railway Historical Society Inc.

“The society has three levels of membership: associate, regular, and life. Every member begins at the associate level. Those members wishing to take a more active role in the society's administration can upgrade to the regular or life level after two consecutive years in good standing at the associate level and payment of the respective initiation fee.”

“Members at the regular and life levels have the right to elect the members of the society's governing body, to run for election to the governing body, or to accept an appointment to an officer position.”

“Any amendments to the society's bylaws require the approval of the members at the regular and life levels.”

“The prepared form 990 is reviewed and approved by the management committee of the society's governing body before the return is filed with the irs.”

“The society's conflict of interest policy covers all of its directors and principal officers, as defined in the policy. Any director, principal officer, or member of a committee with broad authority to act on behalf of the governing body who has a direct or indirect financial interest as defined in the policy is considered an interested person. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors considering the proposed transaction or arrangement. An interested person may make a presentation at the meeting of the governing body, but after the presentation, he or she must leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. After exercising due diligence, the governing body will determine whether the society can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. To ensure the society operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, each director, principal officer, and member of a committee with broad authority to act on behalf of the governing body must annually sign a statement that affirms such person has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands the society is charitable and must engage primarily in activities which accomplish one or more of its tax-exempt purposes in order to maintain its tax exempt status. The society will also conduct periodic reviews of, but not limited to, whether compensation arrangements and benefits are reasonable, based on competent information, and the result of arm's length bargaining, and whether other arrangements with third parties conform to the society's written policies, are properly recorded, reflect reasonable payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit, or in an excess benefit transaction.”

“No documents available to the public.”

“Loss on disposal of assets -165,787.”