Croatan Institute

“Currently the governing board does not have separate committees.”

“The process that croatan institute uses to review the form 990 is as follows: the president, serving in his capacity as chief executive officer of the institute, reviews the form 990 and presents it to the board of directors for the board's formal review and discussion. The board then votes on whether to adopt the form 990 as presented or with modifications. Any modifications are made to the final form 990, which is then shared with all members of the board prior to its filing. The outcomes of this process of review are reflected in the minutes of action of the board of directors of croatan institute.”

“The organization's conflicts of interest policy is incorporated into the bylaws of croatan institute, as article vii, where procedures for monitoring, review, and compliance with the policy are specified. First, the policy is distributed annually to all directors and officers of the institute, each of whom certifies annually that the person has received a copy of the policy, has read and understands the policy, agrees to comply with the policy, understands that the policy applies to all committees and subcommittees acting with the authority of the board of directors, and understands that the corporation is a charitable organization and that in order to maintain its tax-exempt status, it must continuously engage primarily in activities which accomplish one or more of its tax exempt purposes. This signed statement by officers and directors is recorded in the minutes of action of the board of directors. All interested persons among officers and directors of the institute are caused to disclose the existence of any financial interest. Any such interested persons are given the opportunity to disclose all material facts to the board of directors, or members of any committee considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, the interested person 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.”

“Directors deliberate and vote. Such recusal is required by the institute's conflicts of interest policy. The contemporaneous substantiation of the board's deliberation and decision is effected through recording the outcomes of the vote, the terms of the approved package, including the compensation analysis, in the minutes of action of the board of directors.”

“The institute makes available its governing documents, conflict of interest policy, and irs forms 990 (including the financial statements incorporated therein) to the public upon request for the period of disclosure as set forth in section 6104(d).”

“The institute has a non-resident fellow based in geneva, switzerland, but no 2017 revenue or expenses were associated with the affiliate.”

“Misc program consulting by individuals: program service expenses 61,148. Management and general expenses 5,571. Fundraising expenses 689. Total expenses 67,408.”