Fundacion Teleton USA

“The board of trustees has delegated the preparation of form 990 to the treasurer. The organization's treasurer works closely with the outside accounting firm and with accounting personnel involved in the preparation process of the form. Following the treasurer's discussion with the accounting firm, the treasurer reports back to the board regarding the oversight of form 990, and the final draft is provided to the entire voting board before the return is filed.”

“The compliance committee of the board is charged with monitoring proposed or ongoing transactions for conflict of interest and addressing any potential or actual conflicts pursuant to the conflict of interest policy. An annual conflict of interest questionnaire aimed at determining any family and business relationships and transactions or other transactions that may pose a potential conflict is distributed to the all covered persons. (i.e. Board members, officers and, executive leadership or key employees, if any), covered person is required to disclose real or potential, conflicts at the time when such conflicts arise. When someone becomes a covered person, and annually thereafter, each covered person is required to sign a statement affirming that he/she: 1) has received a copy of the conflict of interest policy, 2) has read the policy and understands said policy, and 3) agrees to comply with all the requirements of the policy, including completing the conflict of interest questionnaire. The completed questionnaires are reviewed by the compliance committee and any person with actual or potential conflicts are informed via written communication. The procedures for addressing any conflict of interest which includes but is not limited to (1) the conflicting interest is fully disclosed to the board; (2) the interested person responds to factual questions related to the substance of the transaction or arrangement being considered, after which he/she shall leave the, meeting; (3) the person with the conflict of interest is excluded from the discussion and approval of such transaction; (4)alternatives to the proposed transaction are investigated, competitive bids or comparable valuations are obtained, (5) any conflicting issues during the course of a board meeting which can not be resolved are referred to the governance committee and (6) the transaction or action must be approved by a majority of disinterested persons.”

“While federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available to the public for inspection, the organization makes them available upon request”

“The organization's oversight and selection process for the audit of the financial statements has not changed.”