Taunton Development Massdevelopment Corporation

“Massachusetts development finance agency and taunton development corporation serve as members of the corporation. Each has authority to appoint members of the corporation's board of directors. The corporation may also engage these organizations to provide administrative or operational services in connection with the corporation's proposed activities as disclosed on form 990, part iii, line 4.”

“Under the by-laws of the corporation, board member are appointed by the members.”

“The powers of the members of the corporation are the following: -to make and accept contributions, whether capital or charitable -to lend funds to the corporation -to appoint individuals to the board of directors with taunton development corporation having the power to appoint three (3) directors and massachusetts development finance agency having the power to appoint (4) directors. -to complete any tasks that the board of directors of any committee of the board fails to complete -to dissolve the corporation by a two-thirds majority vote of the members -to amend the articles of organization by a two-thirds majority vote of the members -to perform such other and further duties as are reserved to the members of a corporation pursuant to chapter 180 of the massachusetts general laws.”

“The organization has board committees, which met during the fiscal year and made decisions on some operational matters; however, all major decisions of the organization were made by the board of directors and reflected in the minutes of their meetings.”

“The corporation has a paid preparer for the return. The prepared return is reviewed by finance and legal counsel at massachusetts development finance agency prior to filing.”

“The organization has a board approved conflict of interest policy covering all board members, officers and employees. All officers and board members are asked to report annually whether or not they have any potential conflict. Each reported conflict is reviewed and any persons determined to have a conflict is removed from any affected decision making process.”

“The compensation and benefits reported in part vii are determined by massachusetts development finance agency, a related organization.”

“The organization's governing documents, conflict of interest policy, form 990, and financial statements are available to the public upon request for the same period of disclosure as set forth in section 6104(d). The form 990 without schedule b is also available via guidestar and the massachusetts office of attorney general's website.”

“The corporation does not have formal document retention or whistleblower policies. Mdfa does have document retention policy and holds most of taunton development corp. Documents and follows the mdfa document retention policy.”