Westside Community Schools Foundation Inc.

“The executive committee shall have and may exercise all of the authority and power of the board during the interval between meetings of the board except where action by the entire board is specified by statute, the bylaws, or resolution of the board.”

“The president, chairman, and treasurer of the foundation review the full form 990 and a public disclosure copy of the form 990 is provided to the entire board prior to filing with the irs.”

“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. Periodically each director, principal officer and member of a committee with governing board powers shall affirm such person has agreed to comply with the policy and understands the foundation is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purpose.”

“The compensation committee shall consist of 3 board members. The committee shall meet as often as its chairperson deems necessary to perform and carry out the committee's responsibilities but at least once a year to set the president's and development director's salaries. Committee responsibilities include (1) overseeing the development and implementation of the compensation philosophy and strategy for the president and (2) reviewing and recommending to the board of directors annual raises in compensation for the president using comparative data that may include the size of the organization, geographic area served, related industries and professions, and other relevant factors that are specified by the compensation committee.”

“The foundation makes its governing documents, conflict of interest policy, and its financial statements available upon request. The westside community schools foundation uses the modified cash basis of accounting.”

“The audit committee of the westside community schools foundation, inc assumes responsibility for oversight of the review of its financial statements and selection of an independent accountant. This process has not changed from the prior year.”