Sv Archive

“All board members will review the form 990 prior to it being filed.”

“Duty to disclose: in connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest & 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. Procedures for addressing the conflict of interest: 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 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. After exercising due diligence, the governing board or committee shall determine whether the corporation 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. 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 corporation'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 conflicts of interest policy if the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts 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. If, after hearing the member's 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.”

“Due to financial constraints, it is generally recognized by the board that all salaries and wages are well below market value. If circumstances improve in the upcoming years, a policy for determining compensation will be put in place.”

“Documents are available upon request”

“In addition, to ensure the collection is available to the genral public through rentals and on-site screenings in an effort to educate and entertain the public, promote the art of filmmaking and promise a sense of community between filmmakers and film lovers. To nuture film and media arts, film culture and community in the northwest and beyond by providing a library and films for sale covering a broad range of film history, by offering a venue for film-related educational events, by affording emerging filmmakers a venue to show or relase their works,& by providing an outlet for the sale of locally made films.”

“Prior period adjustment to beg asset value -54,369 total -54,369”