50Can Action Fund Inc

“50can action fund has not formed any committees of the board to date.”

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: 1) has received a copy of the conflicts of interest policy, 2) has read and understands the policy 3) has agreed to comply with the policy, and 4) understands the organization is a social welfare organization and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public by providing copies upon request.”

“The board of directors assumes the responsibility for the oversight of audited financial statements, the board collectively reviews and approves the audited financial statements.”