The Valentine Museum

“E. Massie Valentine, Jr. Charles S. Valentine, III Trustee Trustee Family Relationship Charles S. Valentine, III Alford L. Stratford Trustee Trustee Family Relationship”

“Each elected board trustee serves for a term of 3 years commencing July 1 of each year. No trustee can serve more than two consecutive 3-year terms. The board of the trustees elects a chairman, a vice chairman, a secretary and a treasurer. The election takes place at the last regular meeting of the fiscal year. The nominees receiving the most votes are deemed to have been elected.”

“At any meeting of the board, one half of the voting members of the board constitute a quorum for the transaction of business. A majority vote of those in attendance at a meeting at which a quorum is present is the act of the board of trustees.”

“The form 990 is submitted to the finance committee and treasurer for review prior to filing.”

“An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she must leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee, if appropriate, appoints a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee determines whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the Governing board or committee determines by majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it must inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it must take appropriate disciplinary and corrective action.”

“The board reviews and must approve executive compensation.”

“Governing documents are made available to the public upon request.”