Cintrifuse

“The members of the organization shall be those persons who serve as directors and their respective memberships shall last during their respective terms of office as directors. The directors shall have all the rights and privileges of members as are provided under ohio nonprofit organization law including section 1702.14 of the ohio revised code.”

“The organization's governing body recruits new and replacement governing body members, as well as officers for the organization.”

“The directors are also the "members" of the organization per state law. Any decisions made by the board of directors are, by definition, also made by the members. There are no other stockholders or "owners" of the nonprofit.”

“The ceo, secretary and treasurer will review the 990 and share the 990 and the additional feedback with the organization's governing body before it is filed with the irs.”

“Each year the governing body of the organization must agree to abide by the organization's bylaws. The conflict of interest is embedded in the bylaws. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of his or her financial interest and must be given the opportunity to disclose all material facts to the directors and members of committees with board-delegated powers considering the proposed transactions or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he or she shall leave the 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. A. An interested person may make a presentation at the board or committee meeting, but after such presentation, he or she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. B. The chair of the board or committee shall, if appropriate, appoint a disinterested person or committee to obtain appropriate data as to comparable transactions and investigate alternatives to the proposed transaction or arrangement. Appropriate data as to compensation shall include compensation data from three comparable organizations in the geographic area for similar services. Appropriate data as to a property transaction may include independent appraisals and/or offers received as part of an open and competitive bidding process. C. The board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interests, for its own benefit, and whether the transaction is fair and reasonable to the organization and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination.”

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

“The process has not changed from prior year.”

“The prior period adjustment represents a true up of the investment balance that was not recognized on previously filed tax returns.”