Robert E Lee Memorial Association Inc

“Two members of the board of directors, harriet stephens and paula ruffin, are sisters.”

“Form 990 is reviewed by the association's audit committee with external auditors upon completion of the audited financial statements. This committee then briefs the full board of directors each october and provides each voting member of the board with a final version of form 990. Afterwards, the form 990 is filed and made available for public inspection.”

“Each board member is provided a copy of the written conflict of interest policy. Annually, this policy is reviewed by the board of directors with each member completing a conflict of interest statement, which is retained until requiring update during the year or at the semi-annual fall meeting.”

“The performance review of the president is typically conducted annually following the board of directors' meeting in october by the association's board chair after discussion with key members of the board. A written annual performance is prepared, reviewed with the president, with each party signing and placed in the individual's personnel file. No review was conducted in october of 2016 because the president was newly hired and his salary determined by the compensation committee based on his previous experience and the consultation and compensation survey studies performed by an independent search firm hired by the association. In order to ensure that compensation is fair and reasonable, and not excessive, the compensation committee shall be composed of directors that are free from any conflict of interest related to the review of compensation. A salary increase for the president and all employees is determined when the association's budget is finalized. The salary increase proposed by the compensation committee is subject each year to board approval as determined by the needs of the association.”

“The association's 1023, 990, and 990-t are stored at the association's office and are available upon request.”

“The governing documents, conflict of interest policy, and audited financial statements can be distributed to the public upon request. However, requests are subject to the approval of the president and the assocation's consideration of the intended use of the requested documents.”

“Loss on valuation of beneficial interests -31,922.”

“The association's board of directors has an audit committee that is responsible for the selection and retention of independent auditors. This process has not changed from the prior year.”