Minnesota Colon and Rectal Foundation

“The executive committee has the authority of the board of directors in the management of the business of the foundation in the interval between meetings of the board of directors. The executive committee consists of at least two persons selected by the board of directors from the members of the board of directors and the person that holds the primary responsibility of maintaining the financial books of the foundation. At all times the executive committee is subject to the control and direction of the board of directors of the foundation.”

“Michael spencer and mark sun - business relationship”

“Two members of the board of directors are appointed by colon and rectal surgery associates, ltd. The remaining director(s) are elected by the board of directors from the alumni of the minnesota colorectal residency training program and from the community at-large.”

“Two members of the board of directors are appointed by colon and rectal surgery associates, ltd.”

“The form 990 will be e-mailed to the board members prior to filing for review and comments. Jim mustonen will conduct the primary review and will work with the other members of the executive committee if needed.”

“All members shall disclose prior to the start of a new fiscal year using the conflict of interest assurance of compliance (ciac) form, any interests required by the foundation's conflict of interest policy. Additionally, any events during the fiscal year that give rise to the requirement to disclose if any conflict of interest might exist shall also be disclosed utilizing the ciac. The foundation's president will establish a conflict of interest review committee (circ) comprised of two board members and the cfo. The circ will review the ciac forms and evaluate each situation on its own merits, and if a potential conflict is noted, will include a written recommendation for its management. The organization's general legal counsel will be contacted as the circ deems necessary. Any member having an actual or potential conflict of interest on any matter considered by the board shall not vote on such matter. The minutes of the meeting shall reflect that such director disclosed the interest and abstained from voting.”

“The foundation makes its governing documents, conflict of interest policy, and financial statements available upon request.”

“Consulting & contract labor: program service expenses 42,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 42,000. Purchased services: program service expenses 10,950. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,950.”