Minnetonka Center for the Arts

“The organization's membership consists of those individuals interested in the promotion, encouragement, practice and study, appreciation or enjoyment of the arts and that are current with the required dues.”

“Standard policy is to document executive committee meetings. The executive committee may not speak or act for the board except when formally given such authority by the board for a specific purpose and are time-limited.”

“Staff and management review a draft of the form 990. The draft is presented to the board of directors by the independent auditors along with a draft audit for approval prior to filing. The auditor presents highlights, asks for questions and clarifies as necessary.”

“The organization's conflict of interest policy applies to board members and employees. Annual disclosure is required to the executive director and board chair, who shall determine whether a conflict exists and is material, and, if the matters are material, bring them to the attention of the board. Annual disclosure statements are kept in employee/board records with the executive director. The board shall determine if a conflict exists and is material. The interested director may be present for discussion to answer questions, but may not advocate for the action to be taken and must leave the room while a vote is taken. The minutes of all actions taken on such matters shall clearly reflect that these requirements have been met.”

“Recommendations for salary increases or bonuses for the executive director come from the board and require full board approval. A salary adjustment form is completed and approved by the board chair. A copy is kept on file with payroll records overseen by the accountant and the original is in the executive director's personnel file. This process was most recently undertaken in 2016 for the executive director, r. Heaton. A compensation review is completed by the executive director for all other employees every two years using the "minnesota nonprofit salary and benefit survey" which is published biennially as a reference. Changes to compensation are documented with the payroll department. This was last done in march 2015.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Faculty contracted fees: program service expenses 233,860. Management and general expenses 5,151. Fundraising expenses 15,800. Total expenses 254,811.”