Visit Newport Beach Inc

“A copy of the 990 is provided to the executive committee for review and it is subsequently approved at a board meeting before it is filed.”

“"as an employee of visit newport beach, inc., you are expected to use good judgment to avoid any activity, investment, or interest that actually or potentially creates a conflict between your personal interests and the interest of visit newport beach, inc. Or its partners, including any behavior which gives the appearance of taking money, merchandise, or services from a customer or vendor for personal gain. If you are uncertain as to whether a certain transaction, activity or relationship constitutes a conflict of interest, you should discuss the matter with the chief financial officer. If you or someone with whom you have a close relationship (such as a family member or close companion) engages in any activity or transaction which might cause a conflict between your personal interest and visit newport beach inc's interest. Information about that potential conflict must be disclosed in advance to the chief financial officer, and any exception to this guideline must be approved by the president/ceo of visit newport beach, inc. In advance in writing. Failure to adhere to this guideline, including failure to disclose any conflicts or to seek an exception, may result in discipline, up to and including termination of employment." as part of this policy, each year two disclosures are provided to the board of directors and the executive team of the organization. The annual disclosure requests information regarding any family or business relationshps and any possible compensation received. The other disclosure confirms the understanding of the conflict of interest policy and provides space for an explanation.”

“A compensation committee was formed by 3 members of the board. Members of the compensation committee contacted other bureaus, similar to visit newport beach, inc., for ceo compensation information. The bureaus contacted included santa barbara, san diego, and palm springs. The proposed compensation was then determined and agreed upon by the compensation committee and presented to the executive committee for final approval. This was conducted in april 2006. There are currently no minutes or support for the above mentioned survey of other bureaus. Subsequent raises for the ceo in 2007 - 2011 were reviewed and awarded by the chairman (and sometimes also signed by the vice-chairman) based on merit and did not include any research or separate compensation committee. There is support for the approved ceo raises and an employment contract.”

“The following documents are available for review upon request: form 990, form 1024, articles of incorporation, by laws, and determination letter.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant.”