Sourceamerica

“There were a number of revisions made to the bylaws in 2022, and they generally fell into four categories: (1) revisions to achieve full consistency with cooperative agreement requirements relating to board composition; (2) deletion of outdated provisions (e.g., requirements of the board to designate a person to sign and countersign checks, adopt a seal); (3) simplification and internal consistency (e.g., making the minimum number of members of all standing committees three; deleting the duplicative dissolution provision, since dissolution is already covered in the articles of incorporation); and (4) best practices (e.g., clarifying board/management relationship as "control and oversight" as opposed to "conducting" the affairs of the organization).”

“The 990 is provided to the full sourceamerica board generally 15 days in advance for review before it is executed by the organization's chief financial officer.”

“All members of the board of directors must file an annual disclosure statement revealing all conflicts of interest. The sourceamerica board of directors adopted a code of conduct policy that all board members must abide by. All sourceamerica employees, board members and other team members must abide by the code of conduct and the conflict of interest policy and must file a conflict of interest disclosure statement form on an annual basis or sooner as conflicts arise. All new sourceamerica employees must file a conflict of interest form upon hire.”

“The sourceamerica executive compensation committee and the board sets and approves the compensation of the ceo. The ceo approves the compensation for all other disqualified persons as defined by irs code section 4958 f(1). The sourceamerica executive compensation committee obtains compensation comparability data for the ceo and other disqualified positions. The comparability data is generally provided by an expert in compensation and is based on industry surveys, documented compensation of persons holding similar positions in similar organizations, expert's own compensation studies and other comparable data. The executive compensation committee reviews all compensation of disqualified individuals to ensure no excess benefit has occurred. The committee's deliberations and final vote excludes any person(s) whose compensation is being approved or any other board member with a conflict of interest. The executive compensation committee documents the basis for its determination with concurrent approval from the full board of directors. The organization's documentation contains the following: 1. The terms of the approved transaction and the date approved, 2.the members of the executive compensation committee who were present during the debate on the transaction that was approved and those that voted on it, 3.the comparability data that was relied on by the executive compensation committee and how the data was obtained and 4. Any actions by a member of the executive compensation committee having a conflict of interest. All documentation must be prepared before the later of the next meeting of the executive compensation committee or 60 days after the final actions of the organization's board of directors. In addition, the executive compensation committee must approve the documentation by the next board meeting.”

“The audited financial statements are available to the public on request.”