Faena Arts Inc

“Process used to review the form 990 faena arts inc's form 990 was prepared by faena arts inc's external accountant, frendel brown & weissman llp, in consultation with faena arts inc's board of directors. The completed version of the form 990 was provided to the board for its review and comment. Upon approval by the board, the form 990 was finalized and filed with the irs.”

“Compliance with conflict of interest policy the board of directors oversees the submission of the annual disclosures by the directors, officers, trustees, and key employees, reviews the disclosures to determine whether there are any conflicts of interest, and monitors overall compliance with the policy. If any actual or potential conflict were to arise, legal counsel would work with the board to facilitate the fairness of the transaction, to ensure the recusal of any interested parties from any deliberations, and otherwise monitor compliance with the policy.”

“Process for determining compensation the directors of faena arts inc. Volunteer their services and receive no compensation from faena arts inc. All faena arts inc officer, director, trustee, or key employee salary changes are approved by the board. The board periodically reviews whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. When conducting reviews, the organization may, but no need to, use outside advisors. If outside experts are used, their use shall not relieve the governing board of its responsibility for ensuring periodic reviews are conducted.”

“Process for making documents available to the public faena arts inc makes its governing documents, conflict of interest policy and financial statements available to the public on request.”

“Fabrication of art installation: program service expenses 133,325. Management and general expenses 0. Fundraising expenses 0. Total expenses 133,325. Event production: program service expenses 113,684. Management and general expenses 0. Fundraising expenses 0. Total expenses 113,684. Consulting: program service expenses 216,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 216,500. Marketing: program service expenses 87,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 87,500. Design services: program service expenses 72,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 72,000. Other professional services: program service expenses 20,262. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,262.”

“The process for the selection and supervision of the organization's independent auditor has remained consistent with the prior year.”