Anne Arundel Workforce Development Corporation

“The president & ceo, director of finance and compliance officer review the form 990. After their review, the form 990 is provided to the finance committee for review and discussion. Once approved by the finance committee the form 990 is provided to the full board for their review. At the subsequent full board meeting the board members have the opportunity to discuss the form 990 and then a vote is taken to approve. Upon approval by the full board, the form 990 is filed with the internal revenue service.”

“The board shall adopt a conflict of interest policy that covers board members and staff members. The policy shall identify the types of conduct or transactions that raise conflict of interest concerns, set forth procedures for disclosure of actual or perceived conflicts, and should provide for review of individual transactions by the disinterested directors. Approval for a transaction by the disinterested directors shall be by a vote of a majority of directors in attendance at which a quorum is present. An interested party shall not be counted for purposes of determining whether a quorum is present, nor for purposes of determining what constitutes a majority vote of directors in attendance. Except upon strict compliance with this policy, the corporation shall not enter into a contract or other transaction with any of its directors, with a relative of a director, or with a corporation, firm, or other entity in which any of its directors has an interest or in which any of its directors is a director or officer. For purposes of this article, the term "relative" shall mean parents, grandparents, great-grandparents, aunts, uncles, brothers, sisters, nieces, nephews, children, grandchildren, and great-grandchildren, step relations, and their spouses. A director shall disclose to the board of directors any interest that the director may have, as well as any known interest held by the director's spouse or by any relative of the director or the director's spouse, in any contract or transaction under consideration by the corporation. If a director is also a director in a corporation, firm, or other entity with which the corporation proposes to contract or otherwise transact business, the director shall disclose that fact as well. Except for administrative or ministerial duties that do not affect the disposition or decision, a director shall not vote upon or participate in any way in any contract or transaction with the director, with a relative of the director or with a corporation, firm, or other entity in which the director has an interest or in which the director is a director. The director shall leave the room during consideration, discussion, and voting on the matter. The presence of the interested director may be counted for purposes of determining a quorum at the meeting. After full consideration and upon a specific finding that the contract or transaction is fair and reasonable, the remaining disinterested directors may authorize, approve, or ratify by the vote of a majority of the disinterested directors (even if the disinterested directors constitute less than a quorum), a contract or transaction with a director, with a relative of a director or with a corporation, firm, or other entity in which one of its directors has an interest or in which one of its directors is a director. Each director shall file on at least a yearly basis the director's and officer's disclosure statement.”

“The governing documents, conflict of interest policy, and financial statements are available upon request.”