Knights of Ak-Sar-Ben Foundation

“The executive committee shall have the power and authority of the board to transact all regular business of the foundation in the interval between meetings of the board subject to any prior limitations imposed by the board, the articles of incorporation, and these bylaws or by law.”

“The form 990 was provided to the executive committee for review and then the public disclosure copy of the form 990 was provided to the entire board of directors for approval prior to filing.”

“Each principal officer, board member and member of a committee with governing board delegated powers shall annually sign a conflict of interest statement. 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 to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. 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.”

“Salaries, salary adjustments, and salary increases are reviewed by the executive committee as part of aksarben foundation's annual budgeting process.”

“The aksarben foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Other: program service expenses 267,395. Management and general expenses 127,643. Fundraising expenses 0. Total expenses 395,038.”

“Aksarben policies suggest and provide the option to do a vendor selection/rfp every three years, if needed. Aksarben staff oversees the operational aspects of the audit and, ultimately, the audit is overseen by aksarben's finance committee and aksarben's executive committee. A representative from the audit firm presents the audit to the finance committee who votes to accept it and recommends its acceptance by the executive committee. The report and approval then go to the executive committee, as well as the entire board. This process has not changed from the prior year.”