Chatham Oaks Inc

“The board of directors may by resolution or by provisions in the bylaws delegate the management and conduct of the affairs of the corporation to an executive committee of its members duly appointed by the board.”

“Chatham oaks, inc. Is an iowa nonprofit membership corporation, in which abbe inc., an iowa nonprofit corporation, is the sole voting member.”

“Chatham oaks, inc. Has an independent board of directors that manages its affairs, but the board of directors of abbe, inc., as the sole voting member of chatham oaks, inc., has the authority to approve or remove members of the board of directors of chatham oaks, inc.”

“The board of directors of abbe, inc., as the sole voting member of chatham oaks, inc., has the authority to approve the budget of chatham oaks, inc.”

“The organization has no committees. If the organization forms committees they will contemporaneously document their meetings.”

“The form 990 is prepared by an independent accounting firm. The form 990 is then reviewed by the director of finance and president of abbe, inc. After the review is complete and the return is ready for filing with the irs, an electronic copy of the form 990 will be sent to all board members prior to the return being filed.”

“Conflict of interest forms are completed by staff and board members annually. Potential board conflicts are identified at the board level and established procedures are followed. Identified staff conflicts are reviewed by the supervisor and president. Any person involved in a conflict, potential conflict or appearance of a conflict shall not participate in the review, discussion or vote on any such transaction.”

“Board members/officers are volunteers therefore no compensation is paid. Vp/executive management compensation is determined through president of abbe, inc. And abbe inc. Finance committee compensation review. Their review is based on: salary surveys of like organizations, overall financial position of abbe inc. And affiliates, review of current duties and responsibilities of each position, performance reviews, and any changes in organizational structure. Form 990, part vi, section b, line 15b: the organization does not have any other officers or key employees per the form 990 definitions of such positions; therefore there is no specific formal evaluation for other officers and/or key employees. The executive director is responsible for reviewing and approving all other employee compensation. The organization does use comparison studies to aid in determining the compensation of any and all highly compensated individuals.”

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

“There has been no change in the oversight or selection process from prior years. Last year was filed as a short-year return and was unaudited, but the overall process has not changed.”