Veap Inc.

“The 990 is first sent to the Finance Committee for review. After approval, the return is sent to the Board of Directors for their review and approval prior to submission to the Internal Revenue Service.”

“The Board of Directors and staff of the organization complete a conflict of interest document annually. An actual or potential conflict of interest includes a relationship or transaction that may provide gain or benefit to a director, officer, or employee of VEAP or an affiliated person of such person at the expense of or to the disadvantage of VEAP, or that may affect a director's, officer's, or employee's objective judgment regarding what is in the best interest of VEAP. Directors, officers, and employees must avoid any activities, interests, or relationships that would interfere with their ability to act in the best interests of VEAP. It is the policy of VEAP that the existence of any of the interests shall be disclosed before any transaction is concluded. It shall be the continuing responsibility of the directors, officers, and employees of VEAP to scrutinize their transactions and outside business interests and relationships for potential conflicts and to immediately make such disclosures. Upon knowledge of interest or potential interest, the interested person is expected to disclose the interest and abstain from the decision pending and remove themselves from any action that would influence the situation.”

“1) The Executive Committee of the VEAP Board of Directors, which is comprised entirely of volunteer, independent directors who are officers of the corporation, undertakes an annual review of the CEO and the CEO's compensation. The compensation of VEAP's CEO is assessed and set in comparison to other similar leadership positions in salary surveys undertaken by Minnesota's non profit community. 2) The CEO and Executive Committee also meet to develop a proposed budget amount for the total compensation (including benefits) for all paid staff each year. As part of this process, a review of VEAP's staff positions compared to similar positions in the Minnesota non profit community is undertaken. 3) The recommended compensation of the CEO and for the entire staff is shared and discussed with the Finance Committee of the Board of Directors and incorporated into an annual budget which is brought to the VEAP Board of Directors by the Finance and Executive Committees for review and approval.”

“Governing documents, conflict of interest policy and financial statements are available upon request.”

“VEAP engages volunteers to leverage resources (time and expertise), support operations and enhance overall service delivery and impact. Both individual volunteers (adults and students) as well as groups of 3 or more volunteers provide valuable operational support for program services. We partnered for impact with faith communities, businesses, schools, and other community partners. In 2018, 3,001 volunteers contributed 64,058 service hours nearly doubling the size of VEAP staff. The total value of volunteer service hours contributed was $1,581,592.”

“The process has not changed from the prior year.”