Unboundrva

“The board of directors reviews and approves the 990 before it is filed.”

“The board shall adopt and periodically review a conflict of interest policy to protect the corporation's interest when it is contemplating any transaction or arrangement which may benefit the private interest of an officer or director of the corporation or might result in a possible excess benefit transaction. The 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. 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. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest.”

“The board examines average salaries of comparable positions at similar organizations. It adjusts compensation for experience of the organization's officers and size of organization, in services provided and monetary impact. A salary amount is proposed, then voted on by the board and documented in the board meeting minutes.”

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

“Unboundrva was involved in a business transaction by loaning cut close lawn care $1,700 as a short term loan. The full amount of this loan was paid back before the end of the fiscal year.”