Peabody Auditorium Foundation Inc

“No review was or will be conducted.”

“Duty to disclosein 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 to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement.determining whether a conflict of interest exists 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.procedure for addressing the conflict of interest a. 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. B. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. After exercising due diligence, the governing board or committee shall determine whether the peabody auditorium foundation, inc. 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. D. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the peabody auditorium foundation, inc.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.violations of the conflict of interest policy a. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflict 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. B. If, after hearing the members response and after making further investigation as warranted by the circumstances, the governing 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.”

“The peabody auditorium board of directors do not receive compensation. The acting executive director (ed) is a contracted employee that was hired in july 2015. Prior to her hire, her resume and overall qualifications were received by the executive committee and presented to the full board for review. Then, a contract agreement and the ed's compensation were mutually agreed upon. The ed reports directly to the excecutive committee on a monthly basis and presents monthly reports to the full board of directors. The contracted ed receives an annual verbal review from the executive committee based on performance and contributed income achieved per organization's events,programs,and campaigns. The recommendation for annual contractual renewal is presented to the board of directors for review and vote.”

“Available to public upon request.”