Fundacion Teleton USA

“On december 2012, the organization restated the certificate of formation and the amended and restated bylaws, in accordance with the resolutions adopted by the board of trustees of the corporation, in order to provide that the corporation has no members. In may 2013, the board of trustees approved the amendment to the second restated certificate of formation of the corporation, in order to provide the name change to fundacion teleton usa.”

“The board of trustees has delegated the review of the 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. The treasurer has been responsible for the return for many years. Following the treasure's review and discussion with the accounting firm, the treasurer reports back to the board regarding the oversight of the 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 for conflicts of interest and addressing any potential or actual conflicts pursuant to the conflicts 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 all covered persons (i.e., board members, officers and executive leadership or key employees, if any). Covered persons are required to disclose actual 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 affiriming that he/she (1) has received a copy of the conflict of interest policy, (2) has read the policy, and (3)agrees to comply with all the requirements of the policy, including completing the conflicts 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 is excluded from the discussion and approval of such transaction; fundacion teleton usa 4) alternatives to the proposed transaction are investigated, competive bids or comparable valuations are obtained, (5) any conflicting issues during the course of a board meeting which cannot be resolved are referred to the governance committee, and (6) the transaction or action must be approved by 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.”