Southeast Asia Resource Action Center Searac

“The form 990 was prepared by the outside accountants and reviewed by the executive director and finance manager. The board received a copy of the form 990 before it was filed with the irs.”

“Board members and senior employees are required to annually sign a conflict of interest compliance statement. In connection with any actual or potential conflicts of interest, an interested person discloses the existence and nature of his or her financial interest to the directors or members of committees with board-delegated powers considering the proposed transaction or arrangement. After disclosing the financial interest, the interested person does not participate in the board or committee's consideration of whether a conflict of interest exists. If the board or committee finds that there is an actual or potential conflict of interest, it appoints a disinterested individual or a committee of disinterested individuals to investigate the transaction or arrangement and obtains appropriate information about the terms of comparable transactions or arrangements that would not give rise to a conflict of interest and that would be reasonably available to the organization. Before entering into the transaction or arrangement, the board or committee with board-delegated powers reviews the comparability information to determine whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable to the organization. The board or committee then decides whether to enter into the transaction or arrangement by majority vote.”

“The compensation for the executive director was determined by the board. This review used comparability data and the compensation process was documented. The last review took place in july 2016. The compensation for all other personnel was determined by the executive director. There is a process in place for all staff which includes documented annual reviews. Cost of living adjustments and research on foundations of comparable salaries are taken into consideration.”

“The organization's governing documents, conflict of interest policy and financial statements are located at our washington, dc office and are available to the public upon request.”

“Consultants: program service expenses 292,535. Management and general expenses 7,499. Fundraising expenses 403. Total expenses 300,437.”