Sistema Infantil Teleton USA

“The board of trustees has delegated the review of the form 990 to the finance manager and treasurer. The organization's treasurer works closely with the finance manager who is directly responsible for the preparation process of the form with the outside accountng firm. Following the finance manager's review and discussion with the accounting firm, the finance manager forwards the form to the treasurer for review. The treasurer reports back to the board regarding the oversight of the form 990 and the final draft is provided to the entire voting board before the return is filed.”

“The board of trustees is charged with monitoring proposed conflicts of interest and addressing any potential or actual conflicts pursuant to the conflicts of interest policy. An annual conflict of interest questionnaire, aimed at determining any family and business relationships and transactions or other transactions that may pose a potential conflict, is distributed to all covered persons (i.e., board members, officers and executive leadership or key employees , if any). Covered persons are required to disclose actual or potential conflicts at the time when such conflicts arise. When an individual becomes a covered person, and annually thereafter, he or she is required to sign a statement affirming that he/she (1) has received a copy of the conflict of interest policy, (2) has read the policy, and (3) agrees to comply with all the requirements of the policy. This includes completion of the conflicts of interest process which includes but is not limited to: (1) the conflicting interest is fully disclosed to the board; (2) the interested person responds to factual questions related to the substance of the transaction or arrangement being considered, after which he/she shall leave the meeting; (3) the person with the conflict is excluded from the discussion and approval of such transaction; (4) alternatives to the proposed transaction are investigated, competitive bids or comparable valuations are obtained, (5) any conflicting issues during the course of a board meeting which cannot be resolved are referred to the governance committee, and (6) the transaction or action must be approved by majority of disinterested persons.”

“A budget is set up by the board members for the various positions of the crit, including officers. The board members approve the budget and any compensation adjustments.”

“While federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available to the public for inspection, the organization makes them available upon request.”