Weld Re-4 Education Foundation

“The executive director presents the 990 to the entire board of directors for their approval before the return is filed with the IRS.”

“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 tot the directors and members of committees with board of directors-delegated powers considering the proposed transaction or arrangement. After any discussion with the interest person, he/she shall leave the board of directors ("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. After exercising due diligence, the board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, 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 interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement. If the Board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action. Each director, principal officer, and member of a committee with governing boar-delegated powers shall annually sign a statement which affirms such person: A. has received a copy of the conflicts of interest policy, B. has read and understands the policy, C has agreed to comply with the policy, and D. understands the organization is charitable 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 upon request.”