Minnesota Assistance Council for Veterans

“The executive committee will have at least three members, but no more than six members. Members shall consist of the board treasurer, cfo, and at least one additional board member. Additional members of the committee are not required to be members of the board. All members of the committee must have the education and experience to effectively supervise and direct the financial management of the organization. The executive committee has the authority of the board of directors in the management of the business of the organization in the interval between meetings of the board of directors, subject to the control and direction of the board.”

“The form 990 is prepared by an independent public accounting firm using information provided by the organization. Once a draft if ready, the form 990 is first reviewed by the organization's chief financial officer and board treasurer. The form 990 is then shared with all members of the board in advance of filing. Key points of interest and any material changes from prior year filings are pointed out in a summary to aid the review. Members are provided at least five business days to complete their review. After the review period is complete, questions answered, and any changes resulting from the review made (if applicable), the form is filed.”

“The conflict of interest policy applies to members of the board of directors and executive leadership. Each responsible person shall annually complete a disclosure form identifying any change in relationships, positions or circumstances in which the responsible person is involved that he or she believes could contribute to a conflict of interest arising. Any such information regarding business interests of a responsible person or a family member is treated as confidential and is generally made available only to the chair, the president/ceo, and any committee appointed to address conflicts of interest, except to the extent additional disclosure is necessary in connection with the implementation of this policy. Identification of conflicts of interest is a standing item on board and committee meetings. The president/ceo and board chair are responsible for the oversight of actual and potential conflicts. If it is unclear whether a conflict exists, that determination is made by the board chair. An individual with a conflict may not be present for the discussion of the transaction and may not be present while the remaining board members vote concerning the transaction. All relevant information is documented in the minutes of the meeting.”

“The president/ceo's compensation is analyzed annually utilizing the minnesota nonprofit salary and benefit survey from the minnesota council of nonprofits, as well as other sources, such as national employment data and trends and personal contacts at other nonprofits with similar positions. The compensation is reviewed and documented by both the chair of the board of directors and the executive committee. The board approves annual compensation adjustments for the president/ceo. Compensation of other officers and key employees is the responsibility of the president/ceo. Any compensation adjustments will take into account performance and salary survey data from the minnesota council of nonprofits for comparable positions. Any compensation adjustments are made on an annual basis on the same timeline as for all employees in the organization. The process described here was last completed in 2024.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available upon request and the financial statements are also available on the website.”