National Nordic Foundation

“The prepared form 990 is reviewed and approved by the members of the governing body before the return is filed with the irs.”

“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. After disclosure of the financial interest and all material facts and after any discussion with the interested person, he/she shall remove himself/herself from the board meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board members shall decide if a conflict of interest exists. An interested person may make a presentation to the board, but after the presentation he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The board president shall, if appropriate, appoint a disinterested person or committee to investigate reasonable alternatives to the proposed transaction or arrangement that would not give rise to a conflict of interest. After exercising due diligence, which may include investigating alternatives that present no conflict, the board shall determine by majority vote whether the transaction is in the organization's best interest, and whether it is fair and reasonable to the organization. In conformity with such determination, the board shall make its decision as to whether to enter into the transaction or arrangement by roll-call vote. The minutes of any meeting of the board pursuant to this policy shall contain: the names of the persons who disclosed or otherwise were determined to have a financial interest in connection with an actual or possible conflict of interest; the nature of the financial interest; any action taken to determine whether a conflict of interest was present; and the board's decision as to whether a conflict of interest in fact existed. The names of the members of the board who were present during deliberations on the transaction (whether in person or telephonically); the content of the discussion, including any alternatives to the proposed transaction or arrangement; the names of those who voted on it; and the result of the vote, including, if applicable, the terms of the transaction that was approved and the date it was approved. Each director and officer shall annually sign a statement on the form attached, that: affirms that the person has received a copy of this conflict of interest policy, has read and understood the policy, and has agreed to comply with the terms of the policy; discloses the person's financial interests and family relationships that could give rise to conflict s of interests regarding his/her transactions with the organization. Understands the organization exists for charitable purposes and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

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